This new edition brings the subject up-to-date with an assessment of the effects of the recession on property investment and valuation. Building on the critical strength of the first edition which explained and analyzed the key concepts and techniques for property investment appraisal, the authors have extended their use of examples and illustrative material to lead the reader through the appraisal methods. This is the ideal text for all those studying property investment appraisal, property valuation and commercial and industrial property. It is also directly relevant to property professionals, valuation surveyors, investment analysts and property market researchers.