Property Valuation, Transaction Prices and Market Activity

Manya M. Mooya ()
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Manya M. Mooya: University of Cape Town

Chapter Chapter 17 in Property Valuation and Market Cycle, 2022, pp 259-275 from Springer

Abstract: Abstract It is conventional theory that property valuation activity has neutral effects on transaction prices in property markets. This chapter critiques this view and argues that it prevents the proper identification of the relationship between property valuation and cycles in property markets. An alternative framework is presented, in terms of which the relationship between valuation, transaction prices and market activity is clarified. The framework is further employed to explain price bubbles in property markets which may, in certain cases, presage turning points in market cycles.

Keywords: Property valuation; Transaction prices; Property cycles; Price bubbles (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-031-09450-7_17

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DOI: 10.1007/978-3-031-09450-7_17

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