Please note! Course description is confirmed for two academic years, which means that in general, e.g. Learning outcomes, assessment methods and key content stays unchanged. However, via course syllabus, it is possible to specify or change the course execution in each realization of the course, such as how the contact sessions are organized, assessment methods weighted or materials used.

LEARNING OUTCOMES

After the course students understand the principles of real estate investment markets and valuation especially in the field of commercial property markets and are able to apply their knowledge in practice. They will be able to acquire, analyse, assess and interpreter information needed for conduct valuations and analyses for real estate investment decisions, and develop appropriate criteria for actions.

Credits: 6

Schedule: 15.04.2019 - 23.05.2019

Teacher in charge (valid 01.08.2020-31.07.2022): Kauko Viitanen

Teacher in charge (applies in this implementation): Vitalija Danivska, Eero Valtonen, Kauko Viitanen

Contact information for the course (valid 22.03.2019-21.12.2112):

Teacher in charge: Eero Valtonen

Teacher: Vitalija Danivska

Contact via email or at the lecture.

CEFR level (applies in this implementation):

Language of instruction and studies (valid 01.08.2020-31.07.2022):

Teaching language: English

Languages of study attainment: English

CONTENT, ASSESSMENT AND WORKLOAD

Content
  • Valid 01.08.2020-31.07.2022:

    Valuation standards, valuation process, valuation report, valuation methods, ethical conduct of valuations.

Assessment Methods and Criteria
  • Valid 01.08.2020-31.07.2022:

    Lectures/Workshops/Seminars, group work and assignments (preliminary). Regular attendance required. One absence may be made up by completing an assignment agreed upon with the teacher. The assessment methods and criteria will be defined in course syllabus.

  • Applies in this implementation:

    NOTE: Contradictory to the information in Oodi (and above information automatically copied from Oodi) attendance to the lectures is not compulsory.

    Assessment:

    Exam 65%

    Assignment 35%

    Both exam and assignment MUST be passed to pass the course.

    Both exam and assignment are graded in scale 0-5.



Workload
  • Valid 01.08.2020-31.07.2022:

    160 hours (6 cr). The workload per activity type will be presented in the course syllabus.

  • Applies in this implementation:

    Total workload: 6 credits = 160 hours

    Lectures + exam 19.5 hours

    Reflection of lectures 16,5 hours

    Reading IVS 44 hours

    Assignment 80 hours: Indicatively 60 hours reading the literature + 20 hours writing


DETAILS

Study Material
  • Valid 01.08.2020-31.07.2022:

    To be announced in course syllabus, MyCourses and lectures.

  • Applies in this implementation:

    IVSC International Valuation Standards 2017 ISBN 978-0-9931513-0-9

    IVSC Code of Ethical Principles for Professional Valuers ISBN 978-0-9569313-3-7

    IVSC A Competency Framework for Professional Valuers ISBN: 978-0-9569313-5-1






Substitutes for Courses
  • Valid 01.08.2020-31.07.2022:

    REC-E3040 Real Estate Investment Analysis

Prerequisites
  • Valid 01.08.2020-31.07.2022:

    REC-E3600 Real Estate Market Analysis

SDG: Sustainable Development Goals

    11 Sustainable Cities and Communities

FURTHER INFORMATION

Details on the schedule
  • Applies in this implementation:

    Course Exam: 23/5 16-19

    Course Assignment DL: 31/5 23:55


    The preliminary schedule of lectures (subject to changes, follow MyCourses announcements):

    There is a time period (between the 15/4 and 29/4 lectures) reserved for the individual reading of IVS and its attachments (see course materials) as well as assignment literature 

    NOTE: Except for the first lecture, all lectures are prepared with an expectation that the course materials have been read!

    MON 15/4 16-20 Course kick-off. Why do we need valuation? Interesting valuation cases and valuation tools in the market. Assignment handout.

    THU  18/4 NO LECTURE (individual reading of IVS and assignment literature)

    MON 22/4 NO LECTURE (Easter)

    THU 25/4 NO LECTURE (individual reading of IVS and assignment literature)

    MON 29/4 16-18 Bases of value

    THU 2/5 16-18 Market approach

    MON 16-18 6/5  Income approach

    THU 9/5 16-18 Cost approach

    MON 13/5 16-20 Selection of suitable approach, use of multiple approaches

    THU 16/5 16-18 Legal valuations/compensation valuations

    MON 20/5 16-20 Valuation ethics + brainstorming about future of valuation