PROPERTY VALUE PROBLEMS AT AN ENTERPRISE: A CASE STUDY
||PROPERTY VALUE PROBLEMS AT AN ENTERPRISE: A CASE STUDY
||Book of Abstracts: 13th Annual European Real Estate Society Conference in Weimar, Germany
||Real property represents about one quarter of corporate worth. For many companies property is either their most significant cost or most significant asset, but still many companies underestimate the property value issues. Why? How are decisions concerning real property (value) made in organisations? The objective of the research is to determine how different business entities at an enterprise consider the property value: a) value estimation (valuation), and b) value management (property management). Three parties of one certain enterprise will be captured in the research: 1) Facility management, 2) Asset managemet, and 3) General management. The topic is tightly related with two internationally relevant research fields: corporate real estate management and valuation of properties for financial reporting. Both fields are new in Estonia and are almost not being examined. The case study of one certain organisation is made as a pilot case study for future broader research.
||corporate real estate; property management; property valuation
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