| Omschrijving |
As a popular asset class, real estate has attracted attention from both the individual and institutional investors who aim to achieve portfolio diversification, better asset liability management and inflation protection. Therefore, it is crucial to understand the risk and return characteristics associated with investing in both residential and commercial real estate. This course will focus on investments in commercial and non-commercial properties, and mortgages. Specifically, we will start with property investment analysis by introducing various property valuation models and risk-return analysis. Within residential real estate investment, we will focus on the determinants of investment potential of single family housing and how to formulate sound investment analysis of potential target properties which consists of analysis of fundamentals and the establishment of market valuation. With respect to commercial real estate investment, we will first introduce the basic knowledge of rent, lease, and market forces that affect the observed rents. Next, we will concentrate on the various valuation methods of commercial real estate, i.e. sales comparable approach and income approach. Finally, we will establish investment analysis of potential target properties in terms of their associated risk and return. In the second part of the course, we will get acquainted with various mortgage products, i.e. fixed rate and variable rate mortgages and their respective risk and return characteristics from lender’s perspective. |
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