MPR_HOCN Value and price of real estate

Faculty of Economics and Administration
Autumn 2024
Extent and Intensity
0/3/0. 7 credit(s). Type of Completion: zk (examination).
In-person direct teaching
Teacher(s)
doc. Ing. Vladimír Žítek, Ph.D. (seminar tutor)
Guaranteed by
doc. Ing. Vladimír Žítek, Ph.D.
Department of Regional Economics – Faculty of Economics and Administration
Contact Person: Ing. Iveta Suchomelová Vašíčková
Supplier department: Department of Regional Economics – Faculty of Economics and Administration
Timetable of Seminar Groups
MPR_HOCN/01: Tue 12:00–14:50 P201, except Tue 17. 9., except Tue 5. 11., V. Žítek
Course Enrolment Limitations
The course is also offered to the students of the fields other than those the course is directly associated with.
fields of study / plans the course is directly associated with
Course objectives
The course offers a wider perspective of the issue of real estate valuation. It is based on thorough understanding of the principles of the real estate market and its specifics; attention is devoted to the public interest, land use planning and real estate register. The significance of and the reasons for real estate valuation are explained in the practice. Their importance for tourism plays an important role in terms of access to real estate. The actual valuation starts with clarifying the procedures for land value determination (either using price maps of building sites or using calculation) and fruit trees and decorative plants value determination. Further attention is given to the cost, comparison and profit approach to building and flat valuations. All procedures are illustrated using practical examples, which enables the right interpretation of the found prices in dependence on the methods used. Special emphasis is placed on the correct pricing of holiday cottages and other buildings representing the tourism infrastructure, as well as the specific impact of their location in protected areas, spas and other important tourist sites. The entire course works with the idea of spatial differentiation of property values and also with the dimension of the attractiveness of real estate for tourism.
Learning outcomes
At the end of the course students should be able to:
- formulate the specifics of the property market
- calculate the deterioration of buildings
- organize a local survey for establishing the condition of a property
- assess the suitability or unsuitability of the choice and direction of methods for property valuation
- compare the results of valuation carried out using different kinds of administrative prices with the market price
- evaluate any property including lands
Syllabus
  • Real estate market and its public character
  • Real estate market and its specification
  • Evidence of real estates, resources of evaluation
  • Land evaluation
  • Building evaluation
  • Cost method of real estates evaluation
  • Compare method of real estates evaluation
  • Yield method of real estates evaluation
  • Estate agency as subject of real estate market
Literature
    required literature
  • Oceňování majetku 2024, změny oceňovací vyhlášky od 1.1.2024. Edice ÚZ. Sagit. 331 s.
  • BRETT, Deborah L. and Adrienne SCHMITZ. Real estate market analysis : methods and case studies. 2nd ed. Washington: Urban Land Institute, 2009, viii, 271. ISBN 9780874201369. info
  • BRADÁČ, Albert. Teorie oceňování nemovitostí. 8. přeprac. vyd. Brno: Cerm, 2009, 753 s. ISBN 9788072046300. info
    recommended literature
  • HANÁK, Jakub. Oceňování pozemků s vodními díly (Valuation of land with water constructions). Online. In Ing. Michal Křižák, Ing. Roman Mikulec, Ing. Albert Bradáč, Ph.D. Sborník z konference ExFoS 2020. Brno: Vysoké učení technické v Brně, Ústav soudního inženýrství, 2020, p. 260-269. ISBN 978-80-214-5829-1. Open access sborníku info
  • SEJÁK, Josef. Oceňování pozemků a přírodních zdrojů. Vyd. 1. Praha: Grada, 1999, 251 s. ISBN 8071693936. info
  • FENKER, Richard M. The site book : a field guide to commercial real estate evaluation. Fort Worth: Mesa House, 1996, vii, 165. ISBN 0940352109. info
Teaching methods
Lessons take form of seminars. Continuous self-study is expected, the output is a seminar project (valuation of a really existing property).
Assessment methods
The exam has a written and an oral part. The written part tests the students' practical knowledge, their skills at property valuation; key stages of the solution are evaluated; in total, the usually achievable maximum is 20 points; to pass the students needs at least 12 points (60 %). The oral part is the defence of the seminar project. Semester requirements: obligatory attendance at seminars, create and submit project.
There are no attendance requirements for students who are on an Erasmus stay abroad. They can take the exam directly.
Language of instruction
Czech
Further Comments
The course is taught annually.
The course is also listed under the following terms Autumn 2021, Autumn 2022, Autumn 2023.
  • Enrolment Statistics (recent)
  • Permalink: https://is.muni.cz/course/econ/autumn2024/MPR_HOCN