Värderingsmetoder för förvaltning av kommersiella fastigheter – Är det möjligt att finna en optimal metod?

Sammanfattning: This thesis will discuss valuation methods that are well suited for real estate on the commercial market in Stockholm CBD. What distinguishes this report from others is that we discuss valuation methods that could be optimal for these types of real estate. The choice of method generally depends on the purpose and whom the valuation is for. The report states two methods that are frequently used and will be analyzed. These two methods are net capitalization and cash flow. The real estate societies that we interviewed each use one of these methods. Real estate valuation is a speculation of the future, which makes it afflicted with a great deal of uncertainty. Therefore we consider the method with the least uncertainty to be more likely to represent the best market value. Thus the report will highlight uncertainties and problems that can occur during valuation of real estate. Research was done through a literature study, containing technical literature and existing bachelor projects. We decided that the best way to connect the theory with reality is through an empiric study that was obtained after two interviews. The two individuals who were interviewed were chosen because of their different perspectives on valuation methods, types of properties they conduct and where these properties are located. Furthermore, the empiric made it possible for us to compare the methods by valuating a property with fictive values.