PROPERTY VALUATION
Module/Course Title : PROPERTY VALUATION Course Cluster : Elective Course
Course Coordinator:
• Prof. Dr. Ghozali Maski, S.E.,M.S Lesson Plan Developer:
• Dr.rer.pol. Ferry Prasetyia, S.E.,M.App.Ec.
• Nugroho Suryo Bintoro, S.E.,M.Ec.Dev.,Ph.D Module/
course code
Student
workload Credits (ECTS) Semester Frequency Duration MIE80311 16 x 3CU x
170 minutes
3 CU x 1,5 ECTS
2nd Semester Odd & Even Semester
1 Semester 1 Types of courses
Lecture Contact hours Independent
study
Class size 20 students 16 x 3CU x
50 minutes
16 x 3CU x 120 minutes 3 Prerequisites for participation (if applicable)
-
4 Learning Outcomes:
a) Intended Learning Outcomes (ILO)
1) Capable of demonstrating a responsible attitude to work of their field of expertise independently (ILO 1)
2) Capable of developing the theory of Economics and its application in Development Economics, Financial Economics and Banking, Development Planning and Regional Finance, and Islamic Economics (ILO 5)
3) Capable of solving problems of Development Economics, Financial Economics and Banking, Development Planning and Regional Finance, and Islamic Economics through inter and multidisciplinary approaches (ILO 7)
4) Capable of communicating ideas, thoughts, and scientific arguments through a scientific approach and acquiring national and international recognitions (ILO 11)
b) Course Learning Outcomes (CLO)
1) Capable of explaining preliminary review of property valuation, valuation process, and property market (CLO 1)
2) Capable of explaining environmental analysis, HBU analysis, and spatial and physical development planning (CLO 2)
3) Capable of explaining the design and maintenance of property, land and building budget (CLO 3)
4) Capable of explaining investment and property finance, as well as valuation methodology (CLO 4)
5) Capable of explaining the valuation report and reconciliation of property value indications (CLO 5)
6) Capable of explaining the management and evaluation of property
projects, as well as the rules and code of ethics for appraisers (CLO 6)
5 Subject aims/Content
1) Introduction to Property Valuation (CLO 1) 2) Valuation process (CLO 1)
3) Property market (CLO 1) 4) Environmental Analysis (CLO 2) 5) Highest and Best Use Analysis (CLO 2)
6) Spatial and Physical Development Planning (CLO 2) 7) Property Design and Maintenance (CLO 3)
8) Budget for Land and Building Costs (CLO 3) 9) Property Investment and Finance (CLO 4) 10)Valuation Methodology I (CLO 4)
11)Valuation Methodology II (CLO 4)
12)Valuation Report and Reconciliation of Property Value Indications (CLO 5) 13) Property Project Management and Evaluation (CLO 6)
14) Assessor Regulations, Organization and Code of Ethics (CLO 6) 6 Teaching Methods
1) Cooperative Learning 2) Collaborative Learning 3) Lecture
7 Assessment Methods
Participation, Assignment, Mid-term Exam, and Final Exam
8 This Module/Course is Used in the Following Study Programme/s as well Master Program in Economics
9 Responsibility for Module / Course Team
10 Other Information References:
1) American Institute of Real Etate Appraisers, The Appraisal of Real Estate, Illinois : American Institute of Real Estate Appraisers, 2015
2) Rost, R.O. and CollinsH.G., Land Valuastion and Compensation in Australia, New South Wales : Australia Institute of Valuers and Land Economics, 1996
3) Gunther, Carl, Real Estate Fundamentals, New South Wales : Glencoe Publications
4) Dadi, Iwan Hindawan and Hartoyo, Harry, Highest and Best Use - Selected Reading in Real Estate Appraisal, Yogyakarta : Universitas Gadjah Mada, 1998 5) Hutcheson, John M., Property Development and Manajemen, New South Wales
: Glencoe Publications
6) Jaffe, Austin J, and Sirmans, C.F,Fundamentals of Real Estate Invesment, New Jersey : Prentice Hall, 1995.
7) Smith, Hlbert C. And Corgel, John B. Real Estate Persepective - An Introduction to Real Estate, Illinois : Irwin, 1992.
