The impact of COVID-19 on values and valuation
Abstract
Valuation is at the core of every investor decision, especially in times of uncertainty. In this paper the author moves from the outset of the COVID-19 pandemic when global markets were in turmoil, through the period when sentiment became clearer in the market and the role that this should play, how valuation methodology evolved as we entered into a period where investor activity returned with the wider economy going through periods of lockdown and restriction easing and then further periods of restrictions. We appear to be in an increasingly polarised marketplace and valuation methodology is increasingly important to ensure a consistent approach is taken. The pandemic has given valuers new tools and refocused the valuation community on how best to value in times of uncertainty — lessons learned that will remain relevant in the future.
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Author's Biography
Christian Luft has over 20 years in the valuation business. As a MRICS qualified valuer Christian is a director at Jones Lang LaSalle (JLL) and leads their EMEA retail valuation busines,s having focused on the retail sector for most of his career to date. In his role Christian is responsible for a number of key valuation client mandates, primarily owners of shopping centres and retail parks. He is also responsible for developing expertise and best practice in shopping centre valuations. Outside of JLL Christian has been a panellist at a number of conferences across the globe, representing not just the retail sector but also the wider valuation industry. He is a member of the International Valuation Standards Council (IVSC) European Membership and Standard Recognition Board, which was formed at the start of 2020.
Citation
Luft, Christian (2021, December 15). The impact of COVID-19 on values and valuation. In the Journal of Building Survey, Appraisal & Valuation, Volume 10, Issue 3. https://doi.org/10.69554/QQFO2733.
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