Since January 1, 2014 non-SGEI is part of the housing complexes of corporations valued at market value rather than business value. Law states that this is done on the basis of'market value in rented state' so that housing associations in terms of their commercial property are similar to other landlords. Also, per10 March 2015 the new Housing Act in force which provides for a limitation of the research activities of the corporations to a primary focus on social housing (SGEI activities). This stricter rules are introduced for non-SGEI activities as a market test on the gross initial yield.
Cushman & Wakefield has extensive knowledge and expertise in the field of real estate valuation and is continuously informed of current laws and regulations. Our experts understand the market, including yours! We can therefore help you with efficiently, effectively and cost-conscious execution of market valuations for your commercial property portfolio. For this we developed reliable computational models and, well-established appraisal systems such Reasult TMS.
Cushman & Wakefield also supports you with global credibility checks of your own ratings with plausibility statements. We do this for housing complexes and other commercial real estate.
An important part of our work for housing associations include:
- Balanace rating market value;
- Acquire and Dispose of property;
- Development and Redevelopment;
Questions that we answer to our clients include:
- What are the new trends within the real estate market?
- What is the market value of our property (DAEB/not DAEB) ?
- What is the best way to divide the organize of our housing complexes ?
- What processes are approved by our auditors ?
- How can we interpret the valuation outcomes and use it for our property management ?
Case 1 : Valuation of commercial (non- DAEB) part of the property portfolio
A medium-sized housing in the middle of the country has asked us to appraise the non-social ownership of the corporation for the financial statements. Obviously, this is done by us according to the legal Directive Report (RJ 645 ). Besides our appraisals on the guidelines of the PTA (Platform Valuers and Accountants) .
Cushman & Wakefield received the commission of this property portfolio for annual assessment of the full non-social ownership. Especially the close and personal collaboration with the client throughout the entire process has laid a solid foundation for the annual balance sheet valuations and consultancy work for this corporation.
Case 2 : Residential Appraisals for institutional investors
Cushman & Wakefield has recently been commissioned by a large Dutch institutional investor for the valuation of (a part of) the housing portfolio. Along with a fellow appraiser this is an agreement for the next three years. The knowledge of our valuers in combination with the capacity within the appraisal team makes it possible for us to appraise large portfolios in a relatively short time.
Case 3. Valuations for banks
Annually the Valuation & Advisory team at Cushman & Wakefield appraises tens of thousands of homes. We do this largely commissioned by housing corporations and institutional investors. We estimate increasingly single units and smaller residential portfolios, mostly banks and private investors. Most recently selected NIBC Realty Mortgage Cushman & Wakefield as nationally operating appraiser for NIBC home mortgage product ( www.vastgoedhypotheek.nl). And also for other banks such as FGH, Deutsche Bank and ABNAmro we value individual homes and residential portfolios.