Development

Assessing development appraisal risk with reference to client specific risk tolerance and perspectives

An often-asked question is whether the risk adjustment/analysis techniques adopted by development appraisers can reflect the diverse risks of developers and lenders in the real estate development sector. The paper addresses this question from the premise that the risk analysis used by the appraiser in development viability studies should be adapted to the specific risk tolerance of the instructing client and should address the exact type of risk that is germane to such a client.

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