ABSTRACT
The problem of valuing leasehold interests in property has been troubling valuers for many years. In most countries the debate is now closed. However in the UK and in those countries where valuation methodology has largely followed UK practice there is disagreement between those who regard the ‘dual rate’ (sinking fund) or reinvestment approach to be correct and those who would seek to analyse a leasehold sale as they would any other investment requiring analysis namely to apply single rate principles.
