| CODE | CPM5006 | ||||||
| TITLE | Feasibility Study | ||||||
| UM LEVEL | 05 - Postgraduate Modular Diploma or Degree Course | ||||||
| MQF LEVEL | 7 | ||||||
| ECTS CREDITS | 5 | ||||||
| DEPARTMENT | Construction and Property Management | ||||||
| DESCRIPTION | This study-unit provides an in-depth analysis of property valuations, covering several aspects of the valuation process. Participants will acquire comprehensive knowledge of the various valuation methods and the detailed process needed to create valuation reports, ensuring a comprehensive grasp of valuation techniques. It will provide information on the core value principles, valuation methods, and strategies used to accurately evaluate property values. It will explore the valuation standards and legislation in place to ensure that the valuation profession follows industry best practices and legal requirements. Responsibilities and factors are considered when providing valuation services, such as meeting customer expectations and defining the scope of work. The student will be able to explore legal frameworks, rules, and professions in real estate law, focusing on compliance and ethical behaviour in valuation practice. Legal considerations include GDPR compliance, securing required consents, maintaining confidentiality, and fulfilling legal duties. Professional methods in building pathology and inspection are addressed thoroughly to improve the accuracy of property assessment. The study-unit will promote integrity and professionalism in valuation processes by adhering to norms of conduct and ethical issues and examining costing approaches and their implementation within the Maltese property market to help individuals evaluate property values efficiently. Topics related to development finance, offering perspectives on financing choices and their influence on property values and investment choices will be discussed and participants will be able to gain a comprehensive overview of property appraisals and improve their skills in this crucial component of the real estate sector by combining academic knowledge with practical exercises. Study-Unit Aims: The study-unit's objectives are to familiarise students with the stages in the preparation of a valuation report involving the establishing of parameters for the valuation, encompassing the purpose, date, standard, and foundation of the valuation. The goal of the valuation is a determining factor that supports the rationale for the valuation process, as well as identifies the intended recipients of the valuation report. The study-unit will enable students to work towards the determination of value (as contingent upon the specific date of valuation) serving as a reference point for estimating the worth, the specific category of worth being assessed, market value, fair value, or investment value. Students will produce a final report. Learning Outcomes: 1. Knowledge & Understanding: By the end of the study-unit the student will be able to: - Identify the appropriate valuation method to be adopted in the context of a real-time case study; - Assess the value of property subject to a legal framework; - Identify the prerequisites to support the valuation report; - Demonstrate the knowledge of assessment criteria to ensure the validity and reliability of the valuation method undertaken; - Demonstrate knowledge of professional practice. 2. Skills: By the end of the study-unit the student will be able to: - Carry out and explain the brief and terms of the Real-estate project engagement in completing a valuation task. Main Text/s and any supplementary readings: - Burr Williams, J. (1997) The Theory of Investment Value. Fraser Publishing Company. - Wyatt, P. (2022) Property Valuations. Wiley-Blackwell. - Isaac, D., O'Leary, J., (2012) Property Valuation Principles. Red Globe Press. |
||||||
| STUDY-UNIT TYPE | Project | ||||||
| METHOD OF ASSESSMENT |
|
||||||
| LECTURER/S | |||||||
|
The University makes every effort to ensure that the published Courses Plans, Programmes of Study and Study-Unit information are complete and up-to-date at the time of publication. The University reserves the right to make changes in case errors are detected after publication.
The availability of optional units may be subject to timetabling constraints. Units not attracting a sufficient number of registrations may be withdrawn without notice. It should be noted that all the information in the description above applies to study-units available during the academic year 2025/6. It may be subject to change in subsequent years. |
|||||||