ABSTRACT
Introduction 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 United Kingdom and in those countries where valuation methodology has 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 or valuation as they would any other investment requiring analysis or valuation, namely to apply single rate principles.
