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zhouyu · 2023年02月15日

这题能解释一下吗?没看懂。

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NO.PZ202301100100000101

问题如下:

Which of the following three valuation approaches best represents the one the appraiser will place the most emphasis on?

选项:

A.

Cost approach

B.

Income approach

C.

Sales comparison approach

解释:

The direct capitalization method and the discounted cash flow method are income approaches used to appraise or estimate the value of a commercial (income-producing) property. A is incorrect because the cost approach considers what reproducing or replicating a property would cost and deducts depreciation and other factors that reduce the property’s value. Replacement cost includes the expense of buying the land and constructing a new property on the site that has the same utility or functionality as the property being appraised. C is incorrect because the sales comparison approach considers what similar or comparable properties (comparables) were transacted for in the current market. It is also referred to as the market approach

这题能解释一下吗?没看懂。

1 个答案

Lucky_品职助教 · 2023年02月15日

嗨,努力学习的PZer你好:


直接资本化法和折现现金流法是用于评估或估计商业(创收)财产价值的收益法,都属于income approach。本题要评估的是Class A office building located in New York City,因此需要用income approach.

A是不正确的,因为成本法考虑了再造或复制财产的成本,并扣除了折旧和其他降低财产价值的因素。重置成本包括购买土地和在现场建造与被评估财产具有相同效用或功能的新财产的费用。

C是不正确的,因为销售比较法考虑了当前市场上交易的类似或可比财产(可比房地产)。本题没有可类比的其他房地产。

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