Elective Course
REV701 – Residential Property Analysis and Valuation
Course Unit Code: REV702
Type Of Unit: Elective for Valuation Specialization
Level of Course Unit: Second cycle
Year of Study: First year
Semester: Second Semester
Number of ECTS Credits: 7.5
Mode of Delivery
Face to Face
Prerequisites
37.5 ECTS
Course Objectives
This course’s objective is to provide students with advanced knowledge and practical skills in analyzing and valuing residential real estate. It will cover key concepts such as market analysis, market dynamics and data collection and analysis. Students will gain knowledge and understand the key principles and components of valuing residential properties and preparing comprehensive valuation reports.
Learning Outcomes
- Identify the Residential Property Fundamentals.
- Be able to conduct market analysis and understand macro and micro economic factors affecting residential properties. Explore market research techniques, sources and risk assessment methods relevant to residential real estate.
- Explore Development and Key Features and gain an understanding on the development process of residential properties.
- Master Valuation Principles and Methods. Apply various methods of valuation (i.e. comparable, contractor’s, residual)
- Be able to analyze and appraise residential properties.
- Incorporate Emerging trends: Identify and integrate emerging trends in residential property analysis, such as sustainability, green buildings, and ESG considerations.
- Engage with Real-World Applications: Gain experience on real-world case studies and be able to prepare valuations of actual residential properties.
Course Content
- Fundamentals of residential properties and residential property analysis.
- Market analysis for residential properties and factors affecting their value. Macro and microeconomic factors affecting residential properties and utilization of market research techniques and risk assessment methods.
- Overview and understanding of the development process from start to finish for residential properties and specifically residential land development.
- Understand and apply principles of residential property analysis and valuation, including methods like comparable, contractor’s, and residual valuation.
- Assessment and appraisal of residential properties using various valuation techniques and market insights.
- Overview of emerging trends in residential property analysis. Identification and integration of emerging trends in residential property analysis, such as sustainability, green buildings, and ESG considerations.
- Hands-on experience through real-world case studies and preparation of valuations for actual residential properties.
Course Features
Planned learning activities and teaching methods
Lectures; in-class discussion and debates; in-class exercises; problem sets; team work; video case studies, team presentations, interactive online learning via Moodle (quizzes, assignments, forums)
Assessment methods and criteria
Class participation (including written class quizzes) and problem sets & interactive activities: 40%
Assignment (10.000 max words): 60%
Readings
Textbooks:
• Phil Parnham, Larry Russen – Residential Property Appraisal, Volume 2_ Inspections, Defects and Reports-Routledge (2022)
• Mackmin D. (2008) Valuation & Sale of Residential Property 3rd Edition.
• Phil Parnham_ Chris Rispin – Residential Property Appraisal-Spon Press (2000)
Articles & Journals:
• https://www.investopedia.com/articles/realestate/12/real-estate-valuation.asp
• https://www.investopedia.com/terms/c/comparables.asp
• Comparable evidence in real estate valuation 1st edition, October 2019 -RICS guidance note
Online sources:
• RICS Valuation – Global Standards (‘Red Book’) and International Valuation Standards (IVS).
Videos:
• https://www.youtube.com/watch?v=FjossBILy1s
• https://www.youtube.com/watch?v=H0Zj-hU0L9I
• https://www.youtube.com/watch?v=G_3Gq3eA3Ro
English (UK) 
Ελληνικά