Property Investment, Finance and Valuation
- Module code
- Module leader
- Simon Huston
- Module level
- Module credits
- Min study time
- 150 hours
- Contact Hrs within study time
- 40 hours
- Teaching period
- Semester 2
- Property as an investment.
- Structural risk and information asymmetry in complex systems.
- Principles of finance and investment.
- Financial appraisal techniques.
- Feasibility modelling for investment appraisal.
- Sensitivity analysis.
- Strategic considerations for regeneration and property development.
- Corporate structure.
- Risk management.
- Valuation of specialist commercial properties.
- Indirect property investment (REITs).
- Debt and equity.
- Cost of capital.
- Returns and probabilistic risk as variance.
- Portfolios and CAPM.
- Performance measurement.
- Compulsory purchase.
- Bubbles and behavioural finance.
- International real estate investment.
- Impact of policy and contemporary market issues on valuation.
To achieve credit for this module, students must be able to:
- Identify and advise on appropriate sources and structures of funding for residential and commercial property purchase and development
- Evaluate and select appropriate methods and techniques for the financial appraisal of property investments and developments
- Make adjustments for the impact of contemporary policy and procedure on the valuation of property.
- Advise on the value of the specialist property for specified purposes.
|Examination||Unseen exam (3 hours)||50%|
Students should be familiar with the content of the following:
- Armatys, A. et al (2009) Principles of Valuation. EG Books
- Estrada, J. Understanding Finance (2011) Prentice Hall
- Denyer-Green, B. (2009). Compulsory Purchase and Compensation. (9th edition). Estates Gazette.
- Isaac, D. (2003). Property Finance. (2nd edition). Palgrave MacMillan.
- Isaac, D. (1998). Property Investment. Palgrave MacMillan.
- RICS (2011). Red Book: The RICS Valuation Standards. (8th edition). RICS.
- Rees W. and R. Hayward (2002) Valuation principles into practice. Glasgow, Bell and Bain
- Shapiro, E. et al (1943) Modern methods of valuation, 11th edition. London, Routledge.