Syllabus academic year 2010/2011
(Created 2010-07-25.)
REAL ESTATE APPRAISALVFTF05
Credits: 15. Grading scale: TH. Cycle: G2 (First Cycle). Main field: Technology. Language of instruction: The course will be given in Swedish. VFTF05 overlaps following cours/es: VFT045 and VFT085. Compulsory for: L3. Course coordinator: Senior Lecturer Ingemar Bengtsson, Ingemar.Bengtsson@lantm.lth.se, Real Estate Science. Prerequisites: VFR140 Introductory Law and Real Estate Law and FMS032 Mathematical Statistics, Basic Course. Recommended prerequisits: VFTF01 Economics. Assessment: Participation in project works and a final written examination. Further information: The course is taught in Swedish. Home page: http://www.lantm.lth.se.

Aim
The objective of the course is to learn the participants how to appraise the market value of real estate. Compulsory acquisitions are also studied.

Knowledge and understanding
For a passing grade the student must

Be able to:

Skills and abilities
For a passing grade the student must

Be able to:

Judgement and approach
For a passing grade the student must

Be able to

Contents
The valuation of real estate is a central component in the course. The valuation of real estate is the application of general macroeconomic value and price theories. Each teaching moment consists of lectures and assignments, and also of project work in which the course's theoretical moments, as well as knolwedge from previous courses in the education, will be integrated and applied. The course is focused on a more pure real estate economy moment including general studies of the real estate market and its principles, as well as real estate property as a financial object, price formation in rental and real estate markets as well as the tax value of real estate and taxation. Included in this part is a study and comparison of objects in the real estate market, this market's financial and tax assumptions as well as fundamental construction technique. A central part consists of the valuation of real estate properties that has its emphasis on valuation theories and there, in particular, the area price method but also the yield method.

The course will also thoroughly deal with eminent domain and other forms of takings of real estate. The focus is set on how Swedish law addresses these problems and the variations among different forms of compulsory acquisitions.

Literature
Sjödin, Ekbäck, Kalbro & Norell, Markåtkomst och ersättning, Norstedts
Fastighetsvärdering med övningsbok (utgiven av LMV och Mäklarsamfundet), senaste upplagan
Additional articles.