Professional Property Valuation
ABOUT US
About Us and Your Property
Combined the team at Rhombus has over 20 years experience in propety valuations. Rhombus has assisted various commercial and non commercial clients in the valuation of their properties, assisting clients to make informed key decisions about their property and future.
What is Market Value?
International Valuation Standards defines market value as "the estimated amount for which a property should exchange on the date of valuation between a willing buyer and a willing seller in an arm’s-length transaction after proper marketing wherein the parties had each acted knowledgeably, prudently, and without compulsion."
Market value is a concept distinct from market price, which is “the price at which one can transact”, while market value is “the true underlying value” according to theoretical standards.
The concept is most commonly invoked in inefficient markets or disequilibrium situations where prevailing market prices are not reflective of true underlying market value. For market price to equal market value, the market must be informationally efficient and rational expectations must prevail.
