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Obsolescence – a cause for concern?

Author

Listed:
  • Richard Grover
  • Christine Grover

Abstract

Purpose - – The purpose of this paper is to review what is known about obsolescence and its causes, and provide a critique of how it is reflected in valuations. Design/methodology/approach - – The method has been to review the literature on obsolescence to examine the main causes and whether there are approaches that can identify the vulnerability of buildings to the business models they are designed to satisfy becoming outmoded. Findings - – Obsolescence is an inherent part of the way in which market economies function as new competitors disrupt established business models. Investors need better methods to evaluate the risk that obsolescence poses to their portfolios. Practical implications - – Obsolescence can result in significant unpredicted losses of value. Originality/value - – Much of the literature on obsolescence treats it in the same way as depreciation without recognising its unpredictable nature. The paper explores alternative approaches to how obsolescence might be measured.

Suggested Citation

  • Richard Grover & Christine Grover, 2015. "Obsolescence – a cause for concern?," Journal of Property Investment & Finance, Emerald Group Publishing Limited, vol. 33(3), pages 299-314, April.
    • Handle: RePEc:eme:jpifpp:v:33:y:2015:i:3:p:299-314
    DOI: 10.1108/JPIF-02-2015-0016
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    Citations

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    Cited by:

    1. Bensmain, Yassir & Dahane, Mohammed & Bennekrouf, Mohammed & Sari, Zaki, 2019. "Preventive remanufacturing planning of production equipment under operational and imperfect maintenance constraints: A hybrid genetic algorithm based approach," Reliability Engineering and System Safety, Elsevier, vol. 185(C), pages 546-566.
    2. Mingyang Wang & Jiaqi Zhang & Guangsheng Chen & Kah-Hin Chai, 2019. "Examining the influence of open access on journals’ citation obsolescence by modeling the actual citation process," Scientometrics, Springer;Akadémiai Kiadó, vol. 119(3), pages 1621-1641, June.

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