There are fives ways to value commercial or residential properties. Property surveyors will typically use one or a combination of several to reach a more accurate figure for the valuation. Valuers use the comparison method for residential properties, which looks at sold house price data for the local area, but this method is also applicable to offices and shops. Commercial businesses such as nursing homes and hotels will be valued using the profits method. Other ways to value a commercial property include the contractor’s method, the investment method, and the residual method. The contractor’s method is used when a property is unique. The investment method looks at the market value of leasehold or freehold properties, and the residual method is used for undeveloped land.