RE2VAL-Property Valuation

Module Provider: Real Estate and Planning
Number of credits: 20 [10 ECTS credits]
Level:5
Terms in which taught: Autumn / Spring / Summer module
Pre-requisites: RE1IAP Investment Appraisal
Non-modular pre-requisites:
Co-requisites:
Modules excluded:
Module version for: 2017/8

Module Convenor: Prof Peter Wyatt

Email: p.wyatt@reading.ac.uk

Summary module description:

This module identifies the processes, procedures and practices necessary to value real estate, particularly commercial property investments. It examines the valuation process including regulatory framework, role of the valuation and different concepts of value. It examines in detail various methods of valuation and which ones are appropriate for which role and examines the limitations of these methods and the results.



This module is delivered at University of Reading and University of Reading Malaysia.


Aims:

To develop the students’ understanding of the underlying principles of valuation and to explain the various approaches to and methods of property valuation. 


Assessable learning outcomes:

•    Understand what valuation is, valuation applications: market transactions, performance measurement, financial reporting, loan security, land and property taxation, expropriation, insurance, and the valuation industry: service providers (agents and consultants) and clients.



•    Be cognisant of international and national standards and guidance, ethics and professionalism including conflicts of interest, client influence.



•    Understand the valuation process: terms of engagement, inspections and information gathering (inc. measurement), valuation, reporting



•    Appreciate the different valuation bases, assumptions and special assumptions



•    To understand the various approaches to, methods of and techniques for valuing legal interests in real estate.


Additional outcomes:

•    Develop numeracy and problem solving skills in the application of valuation techniques.


Outline content:

Brief description of teaching and learning methods:

Weekly two-hour lecture/workshop sessions. 


Contact hours:
  Autumn Spring Summer
Lectures 20 20 2
Tutorials 8 8
Guided independent study 56 56 30
       
Total hours by term 84.00 84.00 32.00
       
Total hours for module 200.00

Summative Assessment Methods:
Method Percentage
Written exam 80
Class test administered by School 20

Other information on summative assessment:

Formative assessment methods:

Penalties for late submission:
The Module Convenor will apply the following penalties for work submitted late, in accordance with the University policy.

  • where the piece of work is submitted up to one calendar week after the original deadline (or any formally agreed extension to the deadline): 10% of the total marks available for the piece of work will be deducted from the mark for each working day (or part thereof) following the deadline up to a total of five working days;
  • where the piece of work is submitted more than five working days after the original deadline (or any formally agreed extension to the deadline): a mark of zero will be recorded.

  • The University policy statement on penalties for late submission can be found at: http://www.reading.ac.uk/web/FILES/qualitysupport/penaltiesforlatesubmission.pdf
    You are strongly advised to ensure that coursework is submitted by the relevant deadline. You should note that it is advisable to submit work in an unfinished state rather than to fail to submit any work.

    Length of examination:
    One three-hour examination.

    Requirements for a pass:
    A mark of at least 40% overall.

    Reassessment arrangements:

    Reassessment will be by written exam. 


    Last updated: 8 May 2017

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