Objectives

The course provide an introduction to real estate markets, financial instruments to fund real estate projects, and valuation tools to analyze real estate investment opportunities. The course emphasizes how to apply standard financial theory to real estate, while taking into account the unique properties of the real estate market. The teaching format will be a combination of lectures and applications to illustrate the main concepts.

Contents

The course focuses on the following modules:

-Introduction to legal and financial real estate concepts
-Mortgages
-Household real estate investment decisions
-Income property investments
-Financing real estate development
-Alternative real estate financing and investment vehicles
-Portfolio analysis and real estate funds

References

Lecture slides will be posted on the course website before each session.
The recommended textbook for the course is:

-William B. Brueggeman, and Jeffrey D. Fisher, Real Estate Finance and Investments, 17th Edition, McGraw-Hill.

An alternative textbook is:

-David M. Gentler, Norman G. Miller, Jim Clayton, and Piet Eichholtz, Commercial Real Estate Analysis and Investments, 3rd Edition, Mbition Publishing.

Evaluation

First attempt

Exam:

Written 2h00 hours

Documentation:

Not allowed

Calculator:

Allowed

Evaluation:

Retake

Exam:

Written 2h00 hours

Documentation:

Not allowed

Calculator:

Allowed

Evaluation: