THE APPLICATION OF HIGHEST AND BEST USE ANALYSIS

Appraisal Institute

The Valuation Journal, 2020, vol. 16, issue 2, 4-37

Abstract: The highest and best use of property is essentially the reasonably probable use that results in the highest value. The analysis of highest and best use can be thought of as the logical end of a spectrum of market analysis procedures, running from the study of a property’s market area, through more detailed marketability studies into the financial analysis of alternatives to determine the most profitable use, and finally to the reconciliation and formal conclusion of highest and best use, the timing of that use, and the most probable buyer. All these forms of analysis are interrelated processes that measure the economic potential of alternative uses of real estate. This article presents an overview of the steps in the process of highest and best use analysis.

JEL-codes: R30 R32 (search for similar items in EconPapers)
Date: 2020
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:vaj:journl:v:16:y:2020:i:2:p:4-37

Access Statistics for this article

The Valuation Journal is currently edited by Ion Anghel

More articles in The Valuation Journal from The National Association of Authorized Romanian Valuers Contact information at EDIRC.
Bibliographic data for series maintained by Stefan Alexandru ().