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 is familiar with the basics of housing market equilibrium and dynamics and of housing valuation. The student will understand basics of: the formation of housing market equilibrium; the relationship between housing prices, rents and supply; the important role of housing supply elasticity; the reasons for and outcomes of regional variations in housing market variables; housing price and rent formation at the macro and micro levels; the role of public sector interventions in the housing market.

Credits: 6

Schedule: 01.11.2023 - 30.11.2023

Teacher in charge (valid for whole curriculum period):

Teacher in charge (applies in this implementation): Elias Oikarinen

Contact information for the course (applies in this implementation):

CEFR level (valid for whole curriculum period):

Language of instruction and studies (applies in this implementation):

Teaching language: English. Languages of study attainment: English


  • valid for whole curriculum period:

    Key actors in the housing market, basic models for housing market long-term equilibrium and short-term dynamics, basic valuation concepts for housing including hedonic valuation and regression, supply elasticity of housing and land leverage, regional differences in key housing market variables, the role of public sector interventions in the housing market.

Assessment Methods and Criteria
  • valid for whole curriculum period:

    Lectures and assignments, option for an exam (preliminary). The assessment methods and criteria will be announced in course syllabus.

  • valid for whole curriculum period:

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


Substitutes for Courses
SDG: Sustainable Development Goals

    11 Sustainable Cities and Communities


Further Information
  • valid for whole curriculum period:

    Teaching Language : English

    Teaching Period : 2022-2023 Autumn II
    2023-2024 Autumn II

    Enrollment :

    Registration for the course will take place on Sisu ( The course is offered only to students in the Master's Programme in Real Estate Economics, Master's Programme Creative Sustainability (Real Estate and Water Management) and Master's Programme in Urban Studies and Planning (real estate specialization), students in Minor in Real Estate Economics and those exchange students who have been pre-admitted to the course.