Course code JurZ5017
Credit points 6
Appraisal of Real Estate
Total Hours in Course162
Number of hours for lectures24
Number of hours for seminars and practical classes24
Independent study hours114
Date of course confirmation16.02.2022
Responsible UnitInstitute of Land Management and Geodesy
Course developer
prof.
Vivita Puķīte
Dr. oec.
Prior knowledge
JurZ5010, Rights of Real Estate
Course abstract
The study course aims to acquire knowledge about applying real estate evaluation methods in solving practical tasks and scientific issues. Students get acquainted with the historical development of real estate valuation and the norms regulating the value of real estate. Acquires Value Theory under the condition - market value as a basis for valuation. Acquires the methods used in real estate valuation. Acquires knowledge about the aspects of determining the cadastral value and market value of real estate.
Learning outcomes and their assessment
Knows the concept of real estate value, its types, and understand the factors influencing the value of real estate and the criteria for determining it.
Is able to apply knowledge of factors, methods and criteria influencing value, determining different types of real estate values;
Is able to apply the acquired knowledge and practical skills in the application of valuation methods to different objects to determine different values.
Theoretical knowledge will be tested and evaluated in a test, but skills and abilities will be acquired and evaluated in practical work.
Course Content(Calendar)
1. Real estate valuation study course content, process and requirements (2h)
2. Historical development of real estate valuation (2h)
3. Norms regulating real estate valuation (2h)
4. Theory of values (2h)
5. Basic principles of evaluation based on different aspects of utility (2h)
6. Real estate valuation methods and their application possibilities (2h)
7. Cost method (2h)
8. Revenue method (2h)
9. Method of comparable transactions (2h)
10. Market value as a valuation basis (2h)
11. Determining the market value of real estate (2h)
12. Aspects of determining cadastral value (2h)
13. Development of value zoning (2h)
14. Base of cadastral values (2h)
15. Cadastral value calculation models (2h)
16. Special cases of real estate valuation (2h)
Practical works:
1. Real estate data for real estate valuation (8h)
2. Calculation of cadastral value of real estate (8h)
3. Calculation of real estate market value (8h)
4. Preparation of real estate appraisal report (8h)
Requirements for awarding credit points
The exam consists of:
• oral exam on the theoretical part;
• practical work is included;
• independent works have been developed.
Description of the organization and tasks of students’ independent work
Selection of literature and normative acts and studies, preparation for practical work.
Preparation of descriptions of practical works after the development of their practical part.
Preparing for the oral exam.
Criteria for Evaluating Learning Outcomes
The assessment of the exam depends on the cumulative assessment of the semester, the percentage distribution of which is as follows:
• oral exam - 40%
• Practical work - 40%
• Independent work - 20%.
Compulsory reading
1. Nekustamā īpašuma valsts kadastra likums: LR likums [tiešsaiste]. Pieņemts: 01.12.2005. Stājas spēkā: 01.01.2006. [Skatīts 25.02.2022.]. Pieejams: http://likumi.lv/doc.php?id=124247
2. .Kadastrālās vērtēšanas noteikumi: MK noteikumi Nr. 103 [tiešsaiste]. Pieņemts: 18.02.2020. Stājas spēkā: 21.02.2020.
Pieejams: https://likumi.lv/ta/id/312662-kadastralas-vertesanas-noteikumi
3. Kadastrālās vērtēšanas sistēmas pilnveidošanas un kadastra datu aktualitātes nodrošināšanas koncepcija. LR VZD. 2012. 60 lpp.
4. Baumane V. Nekustamā īpašuma vērtēšana. Teorētiskie aspekti. LLU, Jelgava: 2010. 65 lpp.
Further reading
1. Land Value Taxation: Can It and Will It Work Today? Edited by D.ick Netzer. USA, Lincoln Institute of Land Policy, 1998. 304 p.
2. Youngman J. Legal Issues in Property Valuation and Taxation Cases: cases and Materials. USA, Lincoln Institute of Land Policy, 2006. 320 p.
3. Betts R.ichard M., Ely Silas J. Basic Real Estate Appraisal. USA, Engllewood Cliffs: Prentice Hall Career & Тechnology, 1994. 496 p. .
Periodicals and other sources
1. Valsts zemes dienests. https://www.vzd.gov.lv
2. Latvijas Ģeotelpiskās informācijas aģentūra. https://www.lgia.gov.lv
Notes
Academic master's study program "Environmental, Water and Land Engineering" full- time studies