Which principle guides the estimation that value increases with the anticipation of future benefits?

The correct choice is indeed the principle of anticipation, which is fundamental in real estate valuation. This principle holds that the value of a property is influenced by the expectation of future benefits that can be derived from owning it. For example, when a buyer considers purchasing a home, they will factor in anticipated future appreciation, potential rental income, or benefits from property improvements.

This principle emphasizes that buyers are not just valuing what the property is today, but rather what they believe it will become in the future based on various factors such as market trends, potential for development, or appreciation in the area. Investors and homeowners alike often look forward to how property values may rise, influencing their buying decisions and the prices they're willing to pay currently.

The other principles, while important in real estate, address different aspects of property value determination. The principle of supply and demand focuses on how the relationship between property availability and buyer interest affects prices. The principle of competition pertains to how competing properties influence each other's market value. Lastly, the principle of improvability relates to the potential enhancements or developments that can increase a property's value, separate from the anticipation of future value.