Course syllabus

Fastighetsvärdering
Real Estate Appraisal

VFTF20, 7,5 credits, G2 (First Cycle)

Valid for: 2018/19
Decided by: PLED L
Date of Decision: 2018-03-23

General Information

Main field: Technology.
Compulsory for: L3
Language of instruction: The course will be given in Swedish

Aim

The objective of the course is to lprovide students with the knowledge and skills necessary to evaluate the properties' market values.

Learning outcomes

Knowledge and understanding
For a passing grade the student must

 

• understand basic theory och value for real estate, both for ownership as other rights such as condominium
• understand basic theories and methods of property valuation
• possess basic knowledge of the system of property taxation
• have particularly good knowledge of the sales comparison valuation and the cash flow valuation
• have a basic understanding of the hedonic value theory and hedonic valuation method
• have knowledge of how the institutional framework of Swedish real estate market, particularly housing, is designed and how it affects real estate prices and rents

 

Competences and skills
For a passing grade the student must

 

• be able to assess different types of properties using the most common methods of property valuation.
• be able to describe and discuss in oral and written form different approaches in the valuation of real estate objects of various kinds.
• search and evaluate information about the value of various properties
• to design write write a value opinion adequately

 

Judgement and approach
For a passing grade the student must

• be able to critically assess the value of price statistics and other information that forms the basis for property valuation
• critically discuss about the relationship between property prices and the institutional framework in the form of legislation and policy

Contents

The basis of the subject real estate is the economisc price theory for a market economy with particular regard to the property market's specific condition. This forms the basis for this course in property valuation.

Theory and method of property valuation represents the central part of the course. The emphasis is on the sales comparison method and the yield method. Value Theory and analysis of the property market's interaction with legislation and policies represent other focus areas of the course.

Instruction consists of lectures, exercises, seminars and assignments in which the theoretical elements, as well as some prior knowledge, integrated and applied.

Examination details

Grading scale: TH - (U,3,4,5) - (Fail, Three, Four, Five)
Assessment: Written exam determines the grade. An approved grade also requires approved achievements in seminars and assignments as well as other compulsory elements. Mandatory attendance is required for seminars and computer exercises.

The examiner, in consultation with Disability Support Services, may deviate from the regular form of examination in order to provide a permanently disabled student with a form of examination equivalent to that of a student without a disability.

Admission

Admission requirements:

• VFR140 Introductory Law and Real Estate Law or VFTA05 Introductory Law and Real Estate Law
• FMS032 Mathematical Statistics, Basic Course or FMSF50 Mathematical Statistics, Basic Course

Required prior knowledge: VFTA01 Real Estate and Physical Planning VFTF01 Economics
The number of participants is limited to: No
The course overlaps following course/s: VFT045, VFTF05

Reading list

• Ingemar Bengtsson: Fastighetsvärdering. Studentlitteratur, 2018.
• Fastighetsekonomisk analys och Fastighetsrätt. Fastighetsnytt. Complementary text.
• Complementary materials provided by the department.

Contact and other information

Course coordinator: Universitetslektor Ingemar Bengtsson, ingemar.bengtsson@lantm.lth.se
Examinator: Universitetslektor Ingemar Bengtsson, ingemar.bengtsson@lantm.lth.se
Course homepage: http://www.lantm.lth.se