- Course Code
- PO 2505
- Credit Points
- 15
- Course Coordinator
- TBC
Pre-requisites
Overview
This course introduces students to the concept of value in UK 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.
Structure
2 one-hour lectures per week, 1 one-hour tutorial every two weeks, plus occasional half-day site visits.
Assessment
1st Attempt: 1 two-hour written examination (80%) and one piece of in-course assessment (20%) consisting of a 2,000 word professional report.
Resit: 1 two-hour written examination (80%) plus in-course assignment mark carried forward.
Formative Assessment
This will take place both through tutorial discussions and practice valuation exercises.
Feedback
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.