Editorial

Citation

Brown, G.R. (1998), "Editorial", Journal of Property Valuation and Investment, Vol. 16 No. 5. https://doi.org/10.1108/jpvi.1998.11216eaa.001

Editorial

This is the last issue of the joint editions of the Journal of Property Valuation & Investment and the Journal of Property Finance. From January 1999 the two journals will emerge in a new form as the Journal of Property Investment & Finance.

This change has been motivated by the rapid developments that have taken place in the market over the last few years. More recently we have seen mergers of international real estate firms offering a wide range of property investment skills. The traditional notion of valuation in the international arena must therefore change. Old ideas need to be given an international slant when fund managers view the whole world as a source for investment property.

These interesting developments raise related issues about how we should appraise property in international financial markets where the value of information takes on a new role. The new journal aims to provide a forum for discussing a wide range of investment issues, so it seems logical to drop the term valuation from the title. This represents too narrow a view. Property these days is concerned with investment and finance. The valuation of property has more to do with economic theory than surveying.

The Journal of Property Valuation & Investment and the Journal of Property Finance have long been regarded as important international journals in their field. Only those with limited knowledge of the area would take a different view. The Journal of Property Investment & Finance will continue the work started by these journals and will aim to attract high quality international academic papers that are relevant to the growing area of property investment and finance.

Professor Gerald R. BrownUniversity of Salford, UK