PRINCIPLES OF REAL ESTATE VALUATION
2016/2017, Semester 2
School of Design and Environment (Real Estate)
Modular Credits: 4
RE1104 Principles of Real Estate Valuation is the foundation module for the valuation core. As an introductory module, it covers the theory and concepts of value, bases and definitions of the different valuation concepts, the principles and practices of valuation and all the valuation methods. Students need to understand the concepts well as these will be built upon in the higher modules in valuation. Given that it is a professional discipline, students should know its significance to the real estate market.
As this is a foundational module it has no pre-requisite.
The main modes of teaching are lectures and tutorials. Lectures are aimed at imparting the concepts and knowledge required; they are usually illustrated by real cases and examples in the market so that students can relate. Tutorials are aimed at allowing students to ask, discuss and present prepared questions as well as any issues which they need to clarify from the lectures.
Weekly lectures start from Week 1; bi-weekly tutorials start from Week 5. Students are encouraged to use the first 4 weeks to form the group for the project and to consult on the project.
This module covers two main parts: the theoretical and conceptual aspects of valuation and the methods of valuation. The first part is the foundation and forms the base for subsequent modules in valuation. The second is the introduction to the various methods of valuation which will be extensively applied and in greater depth in subsequent modules. Valuation as a core module in real estate also serves to integrate with the other modules such as investment and market analysis, urban planning, finance and management.
An outline of the module will be given in the first week of lecture.
Valuation is a professional practice. To understand how it is done, students will carry out a residential land valuation as a group project.
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