Market Valuation of the Real Estate
ÚSI-ERTROAcad. year: 2020/2021
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.
Learning outcomes of the course unit
Knowledge of real estate evaluation with market price, specificities of evaluation for financial institutions and courts.
Theory of real estate valuation
Recommended optional programme components
Recommended or required reading
JOWSEY, E. Real estate economics. London: Palgrave Macmillan, 2011. ISBN 978-02-30233-20-1.
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.
ORT, P. Analýza realitního trhu. Praha: Leges, 2019. ISBN 978-80-7502-364-3.
ORT, P., ORTOVÁ ŠEFLOVÁ, O. Oceňování nemovitostí v praxi. Praha: Leges, 2017. ISBN 978-80-7502-234-9.
ORT, P. Oceňování nemovitostí - moderní metody a přístupy. Praha: Leges, 2013. ISBN 978-80-87212-77-9.
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.
SHAPIRO, E., MACKMIN, D., SAMS, G. Modern methods of valuation, New York: Routledge, 12th edition, 2019. ISBN 978-1138503519.
TEGoVA. European valuation standards 2016 (EVS 2016_The Blue Book). Dostupné na http://www.tegova.org.
WYATT, P. Property valuation, London: Wiley-Blackwell, 2nd edition, 2013. ISBN 978-11-19968-65-8.
ZAZVONIL, Z. Odhad hodnoty nemovitostí. Praha: Ekopress, 2012. ISBN.
Planned learning activities and teaching methods
Teaching is carried out through lectures and seminars. Lectures consist of interpretations of basic principles, methodology of given discipline, problems and their exemplary solutions. Seminars particularly support practical mastery of subject matter presented in lectures or assigned for individual study with the active participation of students.
Assesment methods and criteria linked to learning outcomes
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.
Language of instruction
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.
Gaining detailed knowledge of market real estate evaluation.
Specification of controlled education, way of implementation and compensation for absences
Attendance is checked in attendance sheet.
Classification of course in study plans
- Programme REI_P Master's, 2. year of study, winter semester, 5 credits, compulsory