A platform for research: civil engineering, architecture and urbanism
A platform for research: civil engineering, architecture and urbanism
Risk Premium Assessment for the Sustainable Valuation of Urban Development Land: Evidence from Spain
One of the most important parameters in sustainable urban land valuation is the risk premium. Correct assessment of the risk premium is essential for sustainable valuation. Generally, it is estimated that traditional financial models or historic rates do not take into account the specific risk factors of an investment project. In this paper, we propose a sustainable model to obtain it. It is based on investment risk factors and the urban planning land development stages. We conducted a study in Badajoz, Spain, on four urban stages: first, land without an execution program; second, land with an execution program; third, land with reparceling; and fourth, fully developed and urbanized land. We calculated one different risk premium value for each urban stage. The results show that with this model, we can obtain the risk premium at any time during urban planning development. The urban stage is one of the most influential factors in the risk premium value. It decreases during urban planning development, and fully developed and urbanized land has a lower risk premium.
Risk Premium Assessment for the Sustainable Valuation of Urban Development Land: Evidence from Spain
One of the most important parameters in sustainable urban land valuation is the risk premium. Correct assessment of the risk premium is essential for sustainable valuation. Generally, it is estimated that traditional financial models or historic rates do not take into account the specific risk factors of an investment project. In this paper, we propose a sustainable model to obtain it. It is based on investment risk factors and the urban planning land development stages. We conducted a study in Badajoz, Spain, on four urban stages: first, land without an execution program; second, land with an execution program; third, land with reparceling; and fourth, fully developed and urbanized land. We calculated one different risk premium value for each urban stage. The results show that with this model, we can obtain the risk premium at any time during urban planning development. The urban stage is one of the most influential factors in the risk premium value. It decreases during urban planning development, and fully developed and urbanized land has a lower risk premium.
Risk Premium Assessment for the Sustainable Valuation of Urban Development Land: Evidence from Spain
José María Codosero Rodas (author) / José Cabezas Fernández (author) / José Manuel Naranjo Gómez (author) / Rui Alexandre Castanho (author)
2019
Article (Journal)
Electronic Resource
Unknown
Metadata by DOAJ is licensed under CC BY-SA 1.0
Land Valuation Sustainable Model of Urban Planning Development: A Case Study in Badajoz, Spain
| DOAJ | 2018
Sustainability and risk premium estimation in property valuation and assessment of worth
| Online Contents | 2012
Sustainability and risk premium estimation in property valuation and assessment of worth
| Taylor & Francis Verlag | 2012
Sustainability and risk premium estimation in property valuation and assessment of worth
| British Library Online Contents | 2012
Urban land development and valuation system
| British Library Conference Proceedings | 1993