COMMERCIAL REAL ESTATE APPRAISAL
2015/2016, Semester 1
School of Design and Environment (Real Estate)
Modular Credits: 4
This module RE5009 Commercial Real Estate Appraisal aims to equip all participants with the fundamental understanding of what real estate appraisal is all about, focusing on commercial property. It will address the concepts, definitions, principles and practices of appraisal which are universally adopted but applied in the local context to enhance relevance and realism. It will also provide an understanding of all the methods of appraisal and how these are then applied in commercial properties. Participants will be given hands-on experience in carrying out an actual appraisal project. The intended outcome is for participants to have sufficient knowledge and understanding of the theoretical underpinnings of appraisal as well as a good grasp of the commercial property market in Singapore and how commercial real estate appraisal is conducted.
Participants should either be currently involved in the real estate industry or have at least sufficient exposure to real estate to be able to appreciate and discuss issues relating to commercial real estate. Graduates from real estate degrees are welcome and will be expected to share their experience.
Given that the module is for both part-time and full-time participants, the 3-hour weekly lecture is held from 7-10 pm on Wednesdays during Semester 1. The 3-hour session will include both lecture and discussions and all participants will be expected to take an active role in the discussions.
Weekly 3 hour lecture/discussion on Wednesday starting 12 Aug and ending 11 Nov.
Briefly, this module will cover the theory and concepts of appraisal and the application of appraisal methods. Given that appraisal is a professional discipline, it will also examine the appraisal practices, particularly in the local context.
The module outline (syllabus) will be given as an attachment in the workbin.
A group project on an actual commercial property will be the basis of the practical work.
The assessment will comprise a group project (40%), individual participation (10%) and final examination (50%).
Workload Components : A-B-C-D-E
A: no. of lecture hours per week
B: no. of tutorial hours per week
C: no. of lab hours per week
D: no. of hours for projects, assignments, fieldwork etc per week
E: no. of hours for preparatory work by a student per week