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The module aims to provide an introduction to real estate valuation and/or appraisal, the range of possible methodologies, their strengths and limitations and the appropriate contexts for their application. The module focuses on the definitions of value, an introduction to the financial mathematics used in investment appraisal and valuation methodologies, the five main methods of valuation, the purposes and bases of valuation and appraisals, analysis and reporting of risk in relation to the appraisals, the professional guidelines and mandatory requirements (The Red Book) of the main surveying body, the RICS, to be adhered to in property valuation practice and ethics, and current issues in valuation, including sustainability.

Upon completion of this module you will be able to
LO1: comprehend the property valuation process including instructions, bases, methods and reporting
LO2: evaluate and apply the valuation methodologies to undertake a variety of valuations for a range of purposes
LO3: critically appraise the strengths, weakness and limitations of these valuation methodologies
LO4: critically appreciate risk and uncertainty in the valuation process.
LO5: evaluate the possible impact of sustainability issues on valuation
LO6: critically engage in the ethical and professional regulatory issues in the property market