EIE311 Real Estate Development, Economic Analysis and Valuation
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Showing course contents for the educational year 2022 - 2023 .
Course responsible: Sølve Bærug
Teachers: Knut Boge
ECTS credits: 10
Faculty: Faculty of Landscape and Society
Teaching language: NO
Teaching exam periods:
This course starts in Autumn parallel. This course has teaching/evaluation in Autumn parallel
Course frequency: Annually
First time: Study year 2011-2012
Introduction to DCF og NPV. Discount rates, Advanced micro-level valuation. Leverage and financing in practice. Real estate portefolios. Real options and land value. Leases and leasing strategy.
After completed course, the student should have knowledge on:
- tax and duties on commercial real estate
- characteristics of real estate leasing market
- development cost estimates
- commercial real estate profits
- investment value of commercial real estate and development projects
- the concepts of commercial real estate and real estate valuation
- the norwegian and english terminology of commercial real estate and real estate valuation of commercial real estate
- international valuation standards
- basic urban economics
- deep understanding of the risk and profits relation
After completed course, the student should be able to:
- perform advanced economic analysis of real estate development projects
- perform advanced economic analysis in spreadsheets
- calculate shifts by the 4Q model
- efficiently search large information sets
After completed course, the student
- knows the current practice in the Norwegian real estate business
- can extract relevant information from real estate business news
- can reflect on the ethical aspects of real estate development
- can reflect on the connection between economic estimates, real estate development and environmental aspects
Lectures: aprrox. 4 h total per week. Self study.
Study platform https://nmbu.instructure.com/CanvasTimetable https://cloud.timeedit.net/nmbu/web/student/TimeEdit
David M. Geltner, Norman G. Miller, Jim Clayton, Piet Eichholtz Commercial Real Estate Analysis and Investments (with CD-ROM)Other course material: Overview of course material and curriculum will be handed out at the start of the semester.
Basic knowledge of real estate and property development.
Attendence at a number of guest lecturers' presentations, the number will be presented at the start of the course (usually 3) is required.
A written 3 hour exam, graded A-F. An open-book exam where every aid is allowed, including the students own pc. Communicating with externals is not allowed.
Ca. 40 hours of lectures and common supervision. Ca. 210 hours of self study or study in groups.
Minimum requirements for entrance to higher education in Norway (generell studiekompetanse).
Type of course:
Ca. 40 hours of lectures.
An external examiner will participate in the evaluatioin of all of the exams. A conference between the cours responsible and the external examiner will be held.
Allowed examination aids: C3 All types of calculators, all other aids – including digital aids
Examination details: Written exam: Letter grades