ABSTRACT
In recent years these DCF techniques have been seen to be of assistance in decisions relating to property investment and valuation. Their principal application has been in making comparisons between choices of investment. However, arguments that a DCF approach may be more reliable in making a valuation were given impetus by support for this approach in the Mallinson Report published in March 1994Report of the President’s Working Party on Commercial Property Valuations, published by the Royal Institution of Chartered Surveyors (RICS). A detailed consideration of the use of DCF is contained in the Information Paper, Commercial Investment Property: Valuation Methods, published by the RICS in May 1997, which is essential reading for any member of the RICS and recommended reading for those who are not.
