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Abiola Benjamin ObayomiAbiola Benjamin Obayomi
Real Estate is my Profession. The change we need in Nigeria begins with all of us doing things differently. Collectively, we can make Nigeria work.
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Article Category >>>Real Estate

Relevance of Quantitative Techniques to Property Investment Decisions.

By Abiola Benjamin Obayomi       Apr 02, 2015


Relevance of Quantitative Techniques to Property Investment Decisions.

In the past, investors have been seen to rely solely on intuitions and sentiments which have been considered irrational in investment decision-making. Typically, prospective investments, after identification, are compared with benchmark criteria and decisions made on whether the attributes of the property will enable achievement of those criteria. These decisions are informed by forecasting models that vary in their degree of theoretical rigour, informed by and to a degree reflecting different levels of data richness. Decision-making is an essential process in organizational effectiveness. It has been well-defined as making a choice amongst alternatives. It is almost related to all managerial functions. Within the manufacturing domain, effective decisions are meant to achieve zero defects. Currently, this focus has also been applied to the service sector in order to create zero defects. Decision-making is an organizational process that has a powerful effect on organizational goals (Prasad, 2004)

An investment property is like any other investment: the goal is to generate a profit. In real estate, this is achieved through income (rent, for example) or through a profitable resale. The way in which a property is used has a significant impact on its value. Investors sometimes conduct studies to determine the best - and most profitable - use of a property. This is often referred to as its highest and best use. Certain properties can be developed in more than one way (commercially zoned property, for example) and investors can maximize returns by determining the highest and best use. Be that as it may, the following are the relevance of quantitative techniques to property investment decision making:

 

  • Quantitative techniques are a basis for scientific analysis: With the increase in complexities of modern business, including in the real estate sector; it is not possible to rely on the unscientific decisions based on the intuitions. QT provides the scientific methods for tackling various problems when it comes to property investment decision.
  •  

  • Quantitative techniques also provide the managers and the property investor with a variety of tools from mathematics, statistics, economics and operational research. These tools help the manager to provide a more precise description and solution for any problem in the investment process. The solutions obtained by using quantitative techniques are often free from the bias of the manager or the owner of the business.


  • Quantitative techniques also provide solutions to almost every area of business and investment decision. These can be used in production, marketing, inventory, finance and other areas to find answers to various questions like (a) how the resources should be used in production so that profits are maximized (b) how should the production be matched to demand so as to minimize the cost inventory.
  •  

  • An allocation of resources is said to be optional if either a given level of output is being produced at minimum cost or maximum output is being produced at a given cost. A quantitative technique enables project manager to optimally allocate the resources of the investment fund.


  • Using quantitative techniques it is possible to determine the optimal strategy of a business or firm that is facing competition from its rivals. The techniques for determine the optimal strategy is dependent upon game theory.
  •  

  • Using quantitative techniques it is possible to find out the earliest and latest time for successful completion of project and this is called program evaluation and review technique.
  •  

  • Quantitative techniques facilitate the process of decision making - quantitative techniques provide a method of decision making in the face of uncertainty. These techniques are based upon decision theory.
  • Thank you



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