MSc Real Estate Development

In this module you will consider the role of property and the purpose of valuation. You will examine the five principal methods of valuation and their application. Through lectures, workshops and tutorial exercises you will develop competence in applying these techniques to various property types and interests, with particular focus on the market and income approaches. You will research and analyse property data and develop understanding of the factors which affect value, the hierarchy of evidence and the reliability of valuations. This unit will enable you to critically consider contemporary issues in property valuation. Through the assessment process, you will be able to explore a sector of the property market in depth. You will have the opportunity to enhance your negotiation skills through the group task. You will also have the opportunity to inspect and measure, for valuation purposes, a commercial building in Manchester City Centre and prepare a valuation report, having regard to the appropriate professional regulations.

• introduce the principal methods of property valuation and measurement

• demonstrate the application of these methods in a range of contexts

• explore the mathematical basis of different methods of valuation

• critically examine the physical, legal and economic factors affecting the value of real estate assets and the regulatory framework under which valuations are carried out

• critically investigate current issues in valuation practice

A range of teaching and learning methods will be adopted with conventional lectures used to introduce the topics in a structured manner. Workshops and tutorials will be used to apply valuation and measurement techniques and to facilitate critical debate about key issues in valuation theory and practice. There will be opportunities to explore current issues with valuation practitioners to ensure that any valuation debate is grounded in current practice. A key element of this unit is the on-site inspection, measurement and valuation exercise to allow these skills to be applied in a real world environment.

All unit material will be available online. Formative feedback will be provided through Q&A, discussion and interactive activities within lectures, workshops and tutorials. Verbal feedback will be available on coursework discussed during consultation hours and assignment surgeries. Where appropriate, the discussion board on Blackboard will be used as a repository for FAQs.