Real Estate Investment

Faculteit Ruimtelijke Wetenschappen
Jaar 2021/22
Vakcode GEMREI
Vaknaam Real Estate Investment
Niveau(s) master
Voertaal Engels
Periode semester I b

Uitgebreide vaknaam Real Estate Investment
Leerdoelen • Know the differences between fixed and variable rate mortgages, and be able to perform relevant calculations
• Understand the operation of residential as well as commercial real estate markets and their underlying driving factors
• Be able to perform required investment analysis of potential investment opportunities in residential and/or commercial real estate markets
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.
Uren per week 3
Onderwijsvorm Guest lectures, Lectures
Toetsvorm Examination with multiple choice questions digital, Examination with open questions digital, Group assignments
Vaksoort master
Coördinator Dr. X. Liu
Docent(en) S. Fang ,Dr. X. Liu
Verplichte literatuur
Titel Auteur ISBN Prijs
Real Estate Finance and Investments. 14th ed. McGraw-Hill W. Brueggeman, J. Fisher (2011) 9780073377339
Entreevoorwaarden Students are required to have followed the real estate finance course in 1A to build up the basic knowledge in finance. Otherwise, the book “Corporate Finance” by Berk and DeMarzo (Pearson) is highly recommended.
Opgenomen in
Opleiding Jaar Periode Type
MSc Economic Geography  (Optional courses Economic Geography) 1 semester I b keuze
MSc Environmental and Infrastructure Planning  (Optional courses EIP) 1 semester I b keuze
MSc Population Studies  (Optional courses Population Studies) 1 semester I b keuze
MSc Real Estate Studies  (Basic programme Real Estate Studies) 1 semester I b verplicht
MSc Society, Sustainability and Planning  (Optional courses Society, Sustainability and Planning) 1 semester I b keuze
MSc Spatial Sciences (research)  (Optional thematic courses (GERMTTO) year 1 and 2 Spatial Sciences) - semester I b keuze