This course aims to explore how real estate value is created, appraised and exploited in the context of competitive markets and a global economy. It will equip students with the mathematical principles underpinning valuation, and enable them to use a selection of traditional and contemporary techniques based on mathematical formulae to value land and buildings.
By the end of the course, participants should be able to:
■ Understand and apply the appropriate standards and guidance relating to the measurement and valuation of property, and fully understand the basis on which measurements should be undertaken for different property types in the valuation and appraisal process.
■ Search for, analyse, manipulate and evaluate property market data.
■ Understand and explain the mathematical foundations of real estate valuation and appraisal, and apply to the solving of valuation and appraisal problems.
■ Undertake uncomplicated leasehold and freehold (may also be referred to as heritable or ownership interest in Scotland) valuations using any one of the traditional methods of valuation and a suitable yield, and advise clients on the results.
■ Apply a growth explicit discounted cash flow model to the valuation of an investment.
■ Critically appraise the relevance and limitations of the main methods of real estate valuation.
