Development Economics And Real Estate Appraisal URBAN5011

This course aims to explore how real estate value is created, appraised and exploited in the context of competitive markets and a global economy. This involves an integrated understanding of how law, economics, professional practice and public policy help shape real estate value. Property rights and concepts of land ownership are introduced and methods of real estate valuation examined in depth. The course concludes by considering how real estate value can both constrain public policy and be dramatically changed by public policy by real estate value.

Classes to run in Semester 1 on consecutive days (usually Wednesday and Thursday) for three weeks with a half day tutorial 2 weeks later (Tuesday). The three weeks may not be consecutive weeks.

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The course will be formally assessed by means of a project assessed in two parts. Students must pass all components at D3 or above to pass the course.

Real estate students on the MSc in Real Estate, MSc in Real Estate and Regeneration and MSc in City Planning and Real Estate Development will be assessed by a:

Valuation Report 1,500 words with valuation calculations - 40% of mark

Development Feasibility Report 2,500 words with appraisal calculations - 60% mark

Planning students on the MSc in City and Regional Planning and MSc in City Planning and Regeneration will be assessed by a:

Groupwork poster and presentation - 40% of mark

Development Feasibility Report 2,500 words with appraisal calculations - 60% mark