Valuation is one of the key drivers of reliable real estate base decisions globally. This research is aimed at gathering challenges arising from COVID-19 pandemic in the teaching and learning of real estate valuation to enhance sustainable real estate education and practice.
Covid-19 makes forecasts about the real estate market difficult to predict. A characteristic of the Vietnamese real estate market is the strong growth in the past 20 years. Assets will have different price movements, and there is no precedent.
Dear Adoga David I am not expert on real estate valuation. From my limited knowledge, though, I understand valuation is based upon projected rental income from tenancies. COVID-19 has a dramatic effect upon occupancy due to working from home and online transactions. As much real estate is left vacant, even becoming 'stranded assets', I would imagine that the valuation method based upon projected occupancies is no longer relevant and must change.
Many in the property industry seems to promote the notion of building more and bigger, with the belief that demand will follow supply. Even in my city in Australia, in the middle of COVID-19 and amid already high vacancies, new office towers are still being erected - although the demand is highly questionable. Instead, tenants will attracted to such new buildings from older office stock, known as the 'flight to quality', which exacerbates already huge vacancies in commercial stock. This is totally unsustainable.
You may wish to refer to my book 'The impact of overbuilding on people and the planet' (Cambridge Scholars, 2019) and my more recent article 'Growth in floor area: the blind spot in cutting carbon' (Emerald Open Research, 2020) - both can be found on my ResearchGate.
Dear David Ness, your contribution is highly significant, thank you. I would be glad to have those your publications directly sent me. Sincerely grateful.
Dear Adoga David I have shared my book manuscript, and pleased to attach link to my Thesis from my Researchgate Homepage:Thesis Accounting for the effects of oversupply of commercial property
Also link to my article about 'Growth in floor area: the blind spot in cutting carbon' Article Growth in floor area: the blind spot in cutting carbon
Hope you find these helpful.
Well the challenge is following the valuation procedures like the mathematical part of it
The biggest challenge is that we do not have models to evaluate the impact, forecast the impact of covid-19 on changes in social, economic, political factors ... and therefore it is difficult to value. value of the property during this period
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