Course detail

Real Estate Valuation Theory

ÚSI-ERTONAcad. year: 2023/2024

Basic terminology in the real estate evaluation. Price and value, basic methods of real estate evaluation.
Basic data for evaluation, search of premises. Databases for real estate valuation.
Methods of valuation: yield, cost and comparative, land evaluation, determination of common price of real estate.
Evaluation of the immovable assets in accordance with present regulations for evaluation, for credit proceedings, for accounting, for insurance companies, for inheritance procedure, for purposes of taxes, for co-ownership settlement, for auction, for purposes of Commercial Code and valuation in special cases. Determination of the level of financial detriment at the real estate damage and evaluation of the performed building operations.
Evaluation of the rights of user. Finding the cost, economic and market rent from real estate. Flats evaluation.
Specificity of the expert opinion on price of immovable assets in various kinds of proceeding, valuation of the real estates in foreign countries. Czech and international standards for real estate evaluation.

Language of instruction

Czech

Number of ECTS credits

4

Mode of study

Not applicable.

Guarantor

doc. Ing. Robert Kledus, Ph.D.

Department

Institute of Forensic Engineering (ÚSI)

Entry knowledge

Knowledge of general rules for the creation of expert opinions, basic knowledge of mathematics (planimetry, stereometry, financial mathematics), basic knowledge of the building industry (ways of executing load-bearing and non-load-bearing structures, building services, properties of built structures).

Rules for evaluation and completion of the course

Conditions for obtaining the credit: attendance at seminars, completion of assigned tasks, the passing of credit tests.
Exam: oral exam
Attendance in seminars is checked in attendance list.

Aims

Methods of real estate evaluation, practice of the expert activities within evaluation.
Overview of the regulations in price law and their applications.
Knowledge of real estate terminology. Knowledge of terminology in pricing and financial arithmetic.
Theoretical knowledge of the cost, yield and comparitive methods. Knowledge of the issues of lands and their evaluation.
Knowledge of methods of real estate evaluation in special cases:
- Heritage,
- Donation,
- Sale,
- Settlement of ownership,
- Auction,
- A guarantee for the loan.
- Valuation of the company,
- Rights of users and more.

Study aids

Not applicable.

Prerequisites and corequisites

Not applicable.

Basic literature

BRADÁČ, A., a kol.: Teorie a praxe oceňování nemovitých věcí. Brno: Akademické nakladatelství CERM, s.r.o. Brno, 2016. 790 s. ISBN: 978-80-7204-930- 1
BRADÁČ, A.; KLIKA, P.; BRADÁČOVÁ, L.; BRUMOVSKÝ, M.; BURDA, A.; CUPAL, M.; INTROVIČOVÁ, S.; KLIŠOVÁ, J.; MELEN, V.; NIČ, M.; NYKODÝMOVÁ, V.; PERTL, M.; LORENCOVÁ, M.; SUPERATOVÁ, A.; ZUZAŇÁKOVÁ, P.; UHERKOVÁ, E.; ULRICH, J. Teorie a praxe oceňování nemovitých věcí. první. první. Brno: AKADEMICKÉ NAKLADATELSTVÍ CERM, s.r.o., 2016. 790 s. ISBN: 978-80-7204-930- 1.
KLIKA, P.; KLEDUS, R. Teorie oceňování nemovitých věcí. Brno: Vysoké učení technické v Brně, Ústav soudního inženýrství, 2019. s. 1-131. ISBN: 978-80-214-5743-0
KLIKA, P.; KLEDUS, R. Teorie oceňování nemovitých věcí. TEORIE OCEŇOVÁNÍ NEMOVITÝCH VĚCÍ. první. Brno: Vysoké učení technické v Brně, Ústav soudního inženýrství, 2019. s. 1-131. ISBN: 978-80-214-5743-0.

Recommended reading

IVSC: Mezinárodní oceňovací standardy 2017. ASA Europe: Český překlad. Praha: EKOPRESS, 2018. ISBN: 978-80-87865-44-6
TEGoVa: European Valuation Standards 2016. Belgie: Gillis nv/sa, 2016. ISBN: 978-90-819060-1-2

Elearning

eLearning: currently opened course

Classification of course in study plans

  • Programme REI_P Master's 1 year of study, winter semester, compulsory

Type of course unit

 

Lecture

26 hod., optionally

Teacher / Lecturer

Ing. Pavel Klika, Ph.D.
doc. Ing. Robert Kledus, Ph.D.
Ing. Vítězslava Hlavinková, Ph.D.

Syllabus

1. Basic terminology in the real estate valuation (real estate, building, land, components, ownership and co-ownership, . Price and value, basic methods of real estate valuation.
2. Data for evaluation, search of premises. Real estate valuation database, their creation and running. Calculations, their accuracy and influence on the evidence conclusions. Application of the software and responsibility for the usage.
3. Cost method of valuation.
4. Yield method of valuation.
5. Comparative method of valuation.
6. Lands valuation.
7. Determination of common price of real estate.
8. Real estate evaluation in accordance with present regulations.
9. Real estate evaluation for credit proceeding, for accounting, insurance companies, inheritance procedure, for purposes of inheritance tax, gift tax and conveyance of real estate tax, valuation at family settlement, execution of verdict at the sale of real estate, for auction, valuation for purposes of Commercial Code, valuation of real estate at restitutions and rehabilitation out of the court, valuation of the company.
10. Determination of financial detriment at real estate damage and valuation of the performed building operations. Defects in invoicing of the building operations supplies, examination of betterment from performed building operations, valuation of real estate with the work in progress.
11. Valuation of the rights of user and real estate under right of user.
12. Examination whether the building is original or new. Estimation of the cost, economic and market rent of real estate. Flats valuation.
13. Specificity of the expert opinion on price of immovable assets in various kinds of proceeding, valuation of real estates in foreign countries. Czech and international standards for real estate valuation.

Exercise

26 hod., compulsory

Teacher / Lecturer

Ing. Vítězslava Hlavinková, Ph.D.
Ing. Pavel Klika, Ph.D.

Elearning

eLearning: currently opened course