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.


After the course the student understands the process and function of market analysis in commercial property markets as well as the dynamics of commercial property markets, including price formation. He/she is familiar with the sources and contents of market data and understands their shortcomings. He/she can apply this knowledge in the valuation of a commercial property using the income approach. In addition to student will be able to analyse, assess and create information by interpreting domestic and foreign research, sources and other information.

Credits: 6

Schedule: 14.01.2021 - 26.02.2021

Teacher in charge (valid 01.08.2020-31.07.2022): Heidi Falkenbach

Teacher in charge (applies in this implementation): Heidi Falkenbach

Contact information for the course (valid 04.12.2020-21.12.2112):

Assist. Professor Heidi Falkenbach,

  • Contact Heidi on questions related to participation in the course, lectures, evaluation and any requests of exemptions, exceptions etc.

Doctoral student Tea Lönnroth,

  • Contact Tea on questions related to the home exam and home assignment.

Please note that all content-related questions on the home assignment and the home exam are to be asked on the course discussion forum or in the tutorial/Q&A sessions. This is is ensure that all students get the same advice. 

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


  • Valid 01.08.2020-31.07.2022:

    Market analysis, discounted cash flow, commercial property demand and supply, price formation and price factors of commercial properties, rental dynamics, yields.

Assessment Methods and Criteria
  • Valid 01.08.2020-31.07.2022:

    Home assignment, option for an pre- or final exam (preliminary). The assessment methods and criteria will be defined in course syllabus.

  • Applies in this implementation:

    Course consists of a pre-exam, contact sessions, tutorials and a home assignment.

    The pre-exam will be held on 21.1.2021. The instructions for the pre-exam can be found under Materials. All students in the course must pass the pre-exam to pass the course. Pre-exam retake is organised on 4.2.2021.

    The course evaluation and grading is based on the home assignment. Home assignment is done in pairs. Late hand-ins are not accepted.

    Participation in any of the contact sessions is not compulsory.  However, if you do not participate in the sessions, it is your own responsibility to keep yourself informed about DL's, requirements etc. There is no additional tutoring or guidance provided to students not participating in the guided session.

    Most of the Thursday lecture sessions in this course are arranged following flipped classroom logic where each student reads an assigned article before attending the contact session. The articles and their allocation to the students are uploaded to MyCourses "Materials" section by previous Tuesday before each session. The lecture is designed assuming that all students have read the material, and following the content might be difficult if you have not.

    Most Friday lectures are given by visiting lecturers. Please note that to accommodate the visits of our guest lecturers,  there might be changes in the lecture programme/timetable. E.g. we might need to swap the times of tutorials and lectures on some weeks. I will keep you informed and notify you on all changes as soon as I can. I recommend marking all lectures and tutorials in your calendar.

    Participation in the first lecture strongly recommended!

  • 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:

    The indicative workload per activity is:

    Pre-exam: 24 h

    Lectures: 22 h

    Independent reading: 52 h

    Home-assignment: 60 h


Study Material
  • Valid 01.08.2020-31.07.2022:

    To be announced in course syllabus, MyCourses and lectures.

  • Applies in this implementation:

    See course study instructions under Materials

Substitutes for Courses
  • Valid 01.08.2020-31.07.2022:

    REC-E1050 Commercial Real Estate Markets and Analysis

  • Valid 01.08.2020-31.07.2022:

    REC-E3100 Real Estate Economics and REC-E3200 Institutions in Real Estate Economics

SDG: Sustainable Development Goals

    9 Industry, Innovation and Infrastructure

    11 Sustainable Cities and Communities