Course detail

Market Valuation of the Real Estate

ÚSI-ERTROAcad. year: 2023/2024

Summary of the market valuation real property, the process of market valuation of real estates, the analysis of the real estate market in terms of pricing, work with data at market valuation of immovable property valuation approaches in valuing real property, the resulting estimate of the market value of a contributory analysis, market valuation for banking purposes and instruments are used, the market valuation of buildings under construction, residual method.

Language of instruction

Czech

Number of ECTS credits

6

Mode of study

Not applicable.

Guarantor

doc. Ing. et Ing. Martin Cupal, Ph.D. et Ph.D.

Department

Institute of Forensic Engineering (ÚSI)

Entry knowledge

Theory of real estate valuation

Rules for evaluation and completion of the course

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.

Attendance is checked in attendance sheet.

Aims

Gaining detailed knowledge of market real estate evaluation.
Knowledge of real estate evaluation with market price, specificities of evaluation for financial institutions and courts.

Study aids

Not applicable.

Prerequisites and corequisites

Not applicable.

Basic literature

IVSC. International Valuation Standards. London: IVSC, 2021. (CS)
JOWSEY, E. Real estate economics. London: Palgrave Macmillan, 2011. ISBN 978-02-30233-20-1.
ORT, P. Analýza realitního trhu. Praha: Leges, 2019. ISBN 978-80-7502-364-3.
ORT, P. Oceňování nemovitostí - moderní metody a přístupy. Praha: Leges, 2013. ISBN 978-80-87212-77-9.
ORT, P., ORTOVÁ ŠEFLOVÁ, O. Oceňování nemovitostí v praxi. Praha: Leges, 2017. ISBN 978-80-7502-234-9.
SHAPIRO, E., MACKMIN, D., SAMS, G. Modern methods of valuation, New York: Routledge, 12th edition, 2019. ISBN 978-1138503519.
ZAZVONIL, Z. Odhad hodnoty nemovitostí. Praha: Ekopress, 2012. ISBN.

Recommended reading

KANE, M. S., LINNE, M. R., JOHNSON, J. A. Practical Applications in Appraisal Valuation Modeling, Statistical Methods for Real Estate Practitioners. Chicago: Appraisal Institute, 2004. ISBN 0-922154-79-1.
RATTERMANN, M. R. Valuation by comparison. Residential Analysis and Logic. Chicago: Appraisal Institute, 2007. ISBN 978-0-922154-93-7.
RICS (Royal Institution of Chartered Surveyors). RICS Valuation standards. London: RICS, 2017. ISBN 978-1-78321-196-8.
TEGoVA. European valuation standards 2016 (EVS 2016_The Blue Book). Dostupné na http://www.tegova.org.
WYATT, P. Property valuation, London: Wiley-Blackwell, 3rd edition, 2023. ISBN 978-11-197-67-411.

Elearning

eLearning: currently opened course

Classification of course in study plans

  • Programme REI_P Master's 2 year of study, winter semester, compulsory

Type of course unit

 

Lecture

39 hod., optionally

Teacher / Lecturer

Ing. Marek Pertl, Ph.D.
Ing. Tomáš Hrdlička, Ph.D.
doc. Ing. et Ing. Martin Cupal, Ph.D. et Ph.D.

Syllabus

1. Basic terminology in market valuation (market value, market price, usual price, etc.).
2. Data for market valuation.
3. Fundamental Principles of the real estate market in relation to the valuation.
4. Analysis of the real estate market.
5. Comparative valuation approach: the principle of the method, a comprehensive solution methods (presentation and evaluation data).
6. The cost approach and its relation to market valuation.
7. The income approach pricing: principles and methods variants (according to financial mathematics and calculation of the present value). Analysis of highest and best use.
8. Analysis of the contribution. Method mean value, the weighted average method.
9. Insurance value.
10. Outline the specifics and forensic reports for the court.
11. Specifics of forensic reports in a building under construction, wear and tear, the rest of the method.
12. Specifics valuation of real estates for financial institutions.
13. Valuation of real estates with the easement. 

Exercise

26 hod., compulsory

Teacher / Lecturer

Ing. Tomáš Hrdlička, Ph.D.
Ing. Marek Pertl, Ph.D.
doc. Ing. et Ing. Martin Cupal, Ph.D. et Ph.D.

Elearning

eLearning: currently opened course