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Special Issues On Real Estate Valuation

Course Code:

GEO9140

Semester:

9th Semester

Specialization Category:

S.

Course Hours:

4

ECTS:

5

Eclass Link:

https://eclass.uniwa.gr/courses/GEO237/


LEARNING OUTCOMES

The course aims to the specialized knowledge acquisition in advanced methods of real estate valuation and the international valuation standards. Upon successful completion of the course the student will:

  • Know the real estate valuation methods
  • Understand the real estate investment valuation methods
  • Know the business’ location criteria
  • Be able to apply advanced valuation methods on commercial real estate
  • Know the international valuation standards and their application on the occupation of the valuer in real estate property
  • Be able to apply methods of real estate valuation by using computer
  • Be able to apply geoinformatics in real estate valuation methods

 

General Competences

  • Search for, analysis and synthesis of data and information, with the use of the necessary technology
  • Working independently
  • Team work

 

SYLLABUS

  1. Investment valuation principles
  2. Business’ location theories
  3. Investments on commercial real estate
  4. Valuation of commercial real estate: income method, interest rates of investments, discounted cash flows analysis, internal return of investment
  5. Computer Assisted Mass Appraisal (CAMA) by using computers and mathematical models
  6.  International valuation standards
  7. Applications of geoinformatics in real estate valuation methods

 

STUDENT PERFORMANCE EVALUATION

I. Written final exam (60%) which includes:

  • Questions regarding theory
  • Problem solving questions

II. Exercises (10%)
III. Conducting studies and presentation (30%)

 

ATTACHED BIBLIOGRAPHY

In Greek:
1. Baum A., Mackmin D., Nunnington N. 2010. Real estate valuation using the income method, Kleidarithmos Athens.
2. Zedelis, P. 2015. Real Estate. [e-book] Athens: Hellenic Academic Libraries Union. Available at: http://hdl.handle.net/11419/4235. Karanikolas Ν. 2010. Real estate evaluation, Disigma Publications, Thessaloniki
3. Kiohos, P.. 2010. Introduction to real estate valuation methods, Eleni Kiohou Publishers, Athens.
4. Scarrett D. 2012. Real estate valuation: the five methods, Kleidarithmos Publishers, Athens

 

In English:
1. Baranzini A., Ramirez J., Schaerer C. and Thalmann P. (eds.) 2008. Hedonic Methods in Housing Markets, New York: Springer.
2. Ratcliffe J., Stubbs M. and Keeping M. 2009. Urban Planning and Real Estate Development, London: Routledge.
3. Rattermann M.R. 2009.The Student Handbook to the Appraisal of Real Estate, 13th Edition, MAI, SRA.
4. Sayce S. Smith J., Cooper R. Venmore-Rowland P. 2006. Real Estate Appraisal From Value to Worth, Blackwell Publishing Ltd.
5. Shapiro E. , Mackmin D. and Sams G. 2013. Modern Methods of Valuation, New York: Routledge.
6. The European Group of Valuers’ Associations (TEGoVA) 2016. European Valuation Standards 2016, 8th edition, http://www.tegova.org/.