| CODE | CPM5001 | ||||||||
| TITLE | Real Estate Valuation Techniques and Standards | ||||||||
| UM LEVEL | 05 - Postgraduate Modular Diploma or Degree Course | ||||||||
| MQF LEVEL | 7 | ||||||||
| ECTS CREDITS | 5 | ||||||||
| DEPARTMENT | Construction and Property Management | ||||||||
| DESCRIPTION | This study-unit will provide more depth to the study of valuations in the property process. It will focus upon the real estate sector, its importance to the world economy, and the function of standards and procedures for valuation in real estate appraisal. The study-unit will examine how real estate valuation standards and practices have evolved historically, emphasizing significant turning points, approaches, and legal frameworks that have influenced the industry throughout time. Discussions centred around the newest developments, difficulties, and concerns affecting the real estate valuation industry, such as globalization, technical breakthroughs, environmental concerns, and legislative changes will from part of the curriculum. Among the topics to be covered are the evolution of the industry, technology breakthroughs, globalization, regulatory modifications, sustainability concerns, and input from industry stakeholders. Students will examine the results of these current global concerns and how they affect stakeholders in the business. Discussions around the professional and ethical issues that come with developing and upgrading properties will be included as well as the significance of upholding the highest levels of professionalism, ethics, and integrity in the real estate assessment industry. Prospective future trends and advancements in real estate appraisal techniques will be presented as part of the curriculum. Study-Unit Aims: The primary aims of the study-unit are to familiarise students with various methods of property valuation utilized in real estate and to demonstrate their suitable implementation in practical scenarios. Examining the legal and financial framework that facilitates the generation of values lends a localized and practical perspective to the subject matter. Learning Outcomes: 1. Knowledge & Understanding: By the end of the study-unit the student will be able to: - Identify the appropriate valuation method to be adopted in the context of a case study; - Understand the value of property subject to a legal framework; -Identify the prerequisites to enter this field of work; - Develop assessment criteria that would ensure the validity and reliability of the valuation method undertaken; - Demonstrate knowledge of professional practice. 2. Skills: By the end of the study-unit the student will be able to: - Assess general theory and principles; - Analyse key concepts and where valuations fit into the economy; - Analyse the importance of valuation and the role, competences required to fulfill the role; - Understand the brief and terms of engagement when undertaking a task. Main Text/s and any supplementary readings: - Burr Williams, J. (1997) The Theory of Investment Value. Fraser Publishing Company. - Blackledge, M. (2016) Introducing Property Valuations. Routledge. - Appraisal Institute (2020) The appraisal of Real Estate. 5th Edition. - Wyatt, P.(2022) Property Valuation. Wiley-Blackwell. - Isaac, D., O'Leary,J. (2012) Property Valuation Principles. 2nd edition. |
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| STUDY-UNIT TYPE | Lecture | ||||||||
| METHOD OF ASSESSMENT |
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| LECTURER/S | Rebecca Dalli Gonzi |
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The University makes every effort to ensure that the published Courses Plans, Programmes of Study and Study-Unit information are complete and up-to-date at the time of publication. The University reserves the right to make changes in case errors are detected after publication.
The availability of optional units may be subject to timetabling constraints. Units not attracting a sufficient number of registrations may be withdrawn without notice. It should be noted that all the information in the description above applies to study-units available during the academic year 2025/6. It may be subject to change in subsequent years. |
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