FM3100 Real Estate Development and Real Estate Economics Course description

Physical property (plots of land and buildings) are the arena for activities in most organisations. Development, procurement (purchase or hire) and changes to property (land use/right of use and/or assets) are some of the most important decisions made in an organisation, as such decisions form the long-term basis for the organisation's location, capital expenditure, capacity etc. In many instances, a Facility Manager will be involved in processes in which organisations procure, develop, change or dispose of property.

ØABED1000 Financial Accounting and ICT, ØAMET1000 Mathematics, ØASØK1000 Microeconomics, ØABED1100 Managerial Accounting, ØAMET1100 Statistics, ØASØK1100 Macroeconomics, ØABED2000 Investment and Finance and FM2100 Buildings, Infrastructure and FM (Hard FM) or equivalent.

Emnet kan tas av studenter med minst 120 studiepoeng, hvorav minimum 90 studiepoeng i utviklingsstudier og minst 30 av disse må være på påbyggingsnivå.

Knowledge

The student has knowledge of

• the development of different types of property
• how real estate markets are affected by the location and status of cities, urban and population growth, travel times, travel and transport costs
• the main segments in the real estate market
• land use/hire market (urban economics) versus the property ownership market (financial economics)
• market indicators for the property markets and financial and non-financial key figures for property
• the principles for and methods of valuing property and calculating returns on property
• the financing and depreciation of property

Skills

The student is capable of

• applying academic knowledge to analyse the property markets
• applying academic knowledge to perform own/hire analyses and to value property
• applying academic knowledge to calculate the return on property investments
• applying academic knowledge to calculate alternative costs for property

General competence

The student is capable of

• critically reflecting on the development, procurement, use, change and disposal of property
• seeing the subject in a greater societal perspective
• exchanging points of view and experience with other specialists/experts and contributing to developing good practice

A variety of teaching methods will be used, such as lectures, plenary discussions, practical exercises, group work and study trips. The students are expected to work on the practical exercises, take part in discussions and participate in study trips.

The following coursework requirements must be met in order to take the exam in the course:

• One individual written report. Scope: 3 pages/1,200 words.
• One written report by groups of 3-5 students. Scope: 3-5 pages/1,200-2,000 words.

If the required coursework is not approved, a revised and improved version must be submitted by the deadline stipulated by the lecturer.

A supervised, individual four-hour exam is held at the end of the semester.

See a separate list of allowed aids that will be published before the exam.

A grade scale with grades from A to E for pass and F for fail is used.

Each answer paper is assessed by two examiners, one external and one internal.

Admission requirements: Higher Education Entrance Qualification.

ØABED1000 Financial Accounting and ICT, ØAMET1000 Mathematics, ØASØK1000 Microeconomics, ØABED1100 Managerial Accounting, ØAMET1100 Statistics, ØASØK1100 Macroeconomics, ØABED2000 Investment and Finance and FM2100 Buildings, Infrastructure and FM (Hard FM) or equivalent is recommended.