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LAND AND BUILDING VALUATION METHODOLOGIES Single discipline educational activity
Course Sheet Academic Year of enrolment:
Professor and Collaborators:
Hours of classroom activity:
Prerequisites:
There are no prerequisites
Objectives
Contents The course introduces students to real estate valuation by providing the tools for the correct formulation of value judgments.
Extended Syllabus Introductory notes on the estimative discipline
Definition of Estimate; Historical profile of the appraisal discipline.
Main economic issues of estimative interest
Notes on the history of economic thought; Need, good, utility; Resource allocation; Introduction to the functioning of the price system: circular flow model, supply and demand model, equilibrium; Production; Exchange; Value categories; Market forms.
Mathematical tools for estimating
Financial calculation: Simple interest; Annual discontinuous compound interest; Anticipation and delay coefficients; Annuity; Multiannuality; Sum coefficients; Elements of statistics applied to valuation.
Estimates
Origin and facts of estimates; Evaluation contexts; Types of values in conflicting estimates; Types of values in non-conflicting estimates; Values in public goods estimates.
Estimative theory
Jevons' law of indifference; Comparison; Adaptations related to the influence of space and time; Empirical formulation of the law of indifference.
Procedures for evaluating private assets
Direct procedures in the appraisal context (Market value using the single-parametric model; Market value using the multi-parametric multiple regression model; Sales comparison approach; Cost value).
Indirect procedures in the appraisal context (Market value through the profitability hypothesis; Market value through the transformation hypothesis; Market value through the subrogability hypothesis; Market value through the complementarity hypothesis; Cost value through the hypothesis of stratification by homogeneous items; Cost value through the hypothesis of the estimated metric calculation; Cost value through the opportunity cost hypothesis; Reproduction cost. Total cost of building production.
Procedures in the economic context.
Recommended Bibliography Grillenzoni M., Grittani G., - ESTIMO, teoria, procedure di valutazione e casi applicativi, Calderini, Bologna, 1994.
Roncaglia A., La ricchezza delle idee, Storia del pensiero economico, Editori Laterza, 2003.
Roscelli R. (a cura di), Manuale di Estimo, UTET, 2014.
Salvatore D., Microeconomia: teoria e applicazioni, Franco Angeli, Milano, 2001.
Methods of Provision
Teaching Methods The course is divided into theoretical lessons and practical exercises
Evaluation methods Verification of learning:
The exam consists of an oral interview on the topics covered during the course