Czech

Not applicable.

Knowledge of typical cash flow of real estate, specifics of real estate, ability to work with the main determinants of investment and evaluate investment efficiency, fundamentals of real estate portfolios.

Mathematics

Not applicable.

Teaching takes the form of lectures and seminars. Lectures have the character of explanation of basic principles, methodology of given issues, problems and their exemplary solutions. The exercise supports especially the practical mastery of the subject matter presented in lectures or assigned tasks for independent study with the active participation of students.

Conditions of course-unit credit: participation in seminars, compliance of set tasks.
Exam will comprise written and oral part and will be classified according to performance level in both parts.

1. Planning of investment activity - importance of investment activity, stages of preparation.
2. Present value of investment, discounting, special cases.
3. Methods for evaluation of economic efficiency of investment projects (NPV, PI).
4. Methods for evaluation of economic efficiency of investment projects (IRR, PB).
5. Fundamentals of portfolio theory: return and risk.
6. Fundamentals of portfolio theory: effective set and optimal portfolio.
7. Cash flow plan of real estate investment project and its specifics.
8. Typical development of cash flow in real estate, financial modeling.
9. Risks in real estate and returns under risk, trend analysis.
10. Valuation of real estate for investment purposes, Investment Value.
11. Property management, facility management.
12. Comprehensive case study of investment decision-making in real estate.
13. Forms of real estate financing, mortgage markets, investment funds, REITs.

Not applicable.

Basic understanding of investing in real estates and the ability of unassisted evaluation of investment efficiency.

Attendance is checked in attendance sheet.

Not applicable.

Not applicable.

FOTR, J., SOUČEK, I. Investiční rozhodování a řízení projektů. Praha: GRADA, 2011. ISBN 978-80-247-3293-0.
STAIGER, R. Foundations of real estate financial modelling. New York: Routledge, 2015. ISBN 978-1-138-02516-5.
VALACH, J. a kol. Investiční rozhodování a dlouhodobé financování. Praha: EKOPRESS, 2010. ISBN 978-80-86929-71-2.

BAUM, A. E., CROSBY, N. Property investment appraisal. London: Wiley-Blackwell, 2007. ISBN 978-14-05135-55-9.
BRUEGGEMAN, W. B., FISHER, J. D. Real Estate Finance & Investments. New York: McGraw-Hill Education, 2015. ISBN 978-0073377353.
SCHNEIDEROVÁ HERALOVÁ, R. Udržitelné pořizování staveb (ekonomické aspekty). Praha: Wolters Kluwer, 2011. ISBN 978-80-7357-642-4.