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Property Valuation, Transaction Prices and Market Activity

In: Property Valuation and Market Cycle

Author

Listed:
  • Manya M. Mooya

    (University of Cape Town)

Abstract

It is conventional theory that property valuation activity has neutral effects on transaction prices in property markets. This chapter critiques this view and argues that it prevents the proper identification of the relationship between property valuation and cycles in property markets. An alternative framework is presented, in terms of which the relationship between valuation, transaction prices and market activity is clarified. The framework is further employed to explain price bubbles in property markets which may, in certain cases, presage turning points in market cycles.

Suggested Citation

  • Manya M. Mooya, 2022. "Property Valuation, Transaction Prices and Market Activity," Springer Books, in: Maurizio d'Amato & Yener Coskun (ed.), Property Valuation and Market Cycle, chapter 0, pages 259-275, Springer.
    • Handle: RePEc:spr:sprchp:978-3-031-09450-7_17
    DOI: 10.1007/978-3-031-09450-7_17
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