- Project plans
- Project activities
- Legislation and standards
- Industry context
Last edited 10 Apr 2020
Replacement cost valuation
RICS Insight Paper ‘Value of natural capital - the need for chartered surveyors’ published by the Royal Institution of Chartered Surveyors in 2017 suggests that replacement cost valuation is a revealed preference method that draws on the revealed preferences of stakeholders.
Replacement cost valuation assesses: ‘the cost of replacing a natural benefit that has or may be lost with a man-made replacement. For example, the cost of water treatment to deal with peat degradation following drainage might represent the minimum ‘value’ of the original environment that has been lost or may be lost. This method illustrates the dangers of a common language as replacement cost, and in particular depreciated replacement cost, would also be a familiar method to property valuers but in a different guise – the replacement of like with broadly like rather than with a substitute.’
Other revealed preference methods include:
Approaches other than the revealed preference method include:
 Related articles on Designing Buildings Wiki
Featured articles and news
Four outstanding professionals recognised.
Sustainable flooring from super strong grass.
Organisation presents reactions from industry leaders.
New infrastructure bank to be based in the North of England.
Fairer, faster, greener. A summary of the key points.
Strategies to help provide safer working conditions.
Protecting flora, fauna and the other natural features of Scotland.
Architecture considered somewhere between 'sublime and beautiful'.
Polish piano factory revived through an energy-oriented tune up.
Dynamic architectural approach sets out to restore and improve the environment.
Entries accepted from 1 December 2020 to 14 April 2021.
Procedure discontinued for sale or re-mortgage of buildings without cladding.
The art of negotiation.