Last modified: 21 Mar 2025 12:46
This course deals with the detail of why property requires to be valued and how the valuation process operates by way of the implementation of the RICS “Red Book”. The five property valuation methods are discussed via a series of lectures supplemented by tutorials/workshops in which valuation problem-solving tasks are discussed, with a focus on the investment method and the critique of traditional approaches. Practical valuation exercises are undertaken, which include the inspection and measurement of property and the analysis of comparable evidence.
| Study Type | Undergraduate | Level | 2 |
|---|---|---|---|
| Term | Second Term | Credit Points | 15 credits (7.5 ECTS credits) |
| Campus | Aberdeen | Sustained Study | No |
| Co-ordinators |
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This course introduces students to the concept of value in real estate markets, including an examination of the distinguishing features of real estate markets and the different types of legal interests in property. It examines the five main methods of valuation with particular emphasis on the comparable and investment methods. Through lecture examples and tutorial exercises, the course teaches a structured approach to the assimilation and analysis of relevant evidence for valuation. It also utilizes compounding and discounting techniques and applies these to the valuation of various property types and interests. Lastly, the practical context in which valuations are conducted is considered, including the workings of the RICS Valuation Standards and how valuations are reported.
Information on contact teaching time is available from the course guide.
| Assessment Type | Summative | Weighting | 30 | |
|---|---|---|---|---|
| Assessment Weeks | Feedback Weeks | |||
| Feedback |
2,000 words. Students will receive individual written feedback on their written coursework. They will also receive model answers to selected practice exercises as well as verbal feedback in the course of tutorial discussions. |
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| Knowledge Level | Thinking Skill | Outcome |
|---|---|---|
| Conceptual | Analyse | Collect, analyse and interpret data from a variety of sources to provide reasoned advice |
| Conceptual | Apply | Select and apply appropriate appraisal and investment management tools to make decisions or provide reasoned advice |
| Conceptual | Understand | Knowledge and understanding of the approaches and techniques used to value real estate |
| Procedural | Understand | Ability to appreciate and understand the importance of ethics and professional conduct |
| Assessment Type | Summative | Weighting | 70 | |
|---|---|---|---|---|
| Assessment Weeks | Feedback Weeks | |||
| Feedback |
2-hour Exam |
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| Knowledge Level | Thinking Skill | Outcome |
|---|---|---|
| Conceptual | Analyse | Collect, analyse and interpret data from a variety of sources to provide reasoned advice |
| Conceptual | Apply | Select and apply appropriate appraisal and investment management tools to make decisions or provide reasoned advice |
| Conceptual | Evaluate | Ability to discuss current issues within global or local real estate markets |
| Conceptual | Understand | Knowledge and understanding of the approaches and techniques used to value real estate |
There are no assessments for this course.
| Assessment Type | Summative | Weighting | 100 | |
|---|---|---|---|---|
| Assessment Weeks | Feedback Weeks | |||
| Feedback | ||||
| Knowledge Level | Thinking Skill | Outcome |
|---|---|---|
| Knowledge Level | Thinking Skill | Outcome |
|---|---|---|
| Conceptual | Apply | Select and apply appropriate appraisal and investment management tools to make decisions or provide reasoned advice |
| Conceptual | Understand | Knowledge and understanding of the approaches and techniques used to value real estate |
| Conceptual | Analyse | Collect, analyse and interpret data from a variety of sources to provide reasoned advice |
| Procedural | Understand | Ability to appreciate and understand the importance of ethics and professional conduct |
| Conceptual | Evaluate | Ability to discuss current issues within global or local real estate markets |
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