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:
Current from: 2018/9

Module Convenor: Prof Peter Wyatt

Email: p.wyatt@reading.ac.uk

Type of module:

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	100

Summative assessment- Examinations:
One three-hour examination.

Summative assessment- Coursework and in-class tests:

Formative assessment methods:

Formative assessment will be through 4 online tests, which will be made available on Blackboard in weeks 5 and 11 of the autumn term and weeks 5 and 11 of the spring term.

Penalties for late submission:
The Module Convener will apply the following penalties for work submitted late:

where the piece of work is submitted after the original deadline (or any formally agreed extension to the deadline): 10% of the total marks available for that piece of work will be deducted from the mark for each working day[1] (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.

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

Reassessment arrangements:

Reassessment will be by written exam. 

Additional Costs (specified where applicable):

Last updated: 20 September 2018