ECONOMICS AND REAL ESTATE APPRAISAL
Learning outcomes of the course unit
The course is aimed at teaching knowledge and understanding of the basic of the management of appraisal; the student will also learn to apply the acquired knowledge and understanding to identify the needs in professional applications to give adequate answers, making judgment and improving communication skills and learning skills.
Course contents summary
Principles of Economics.
Need, good, and utility. Production and consumption. Market demand, supply and price. Company and enterprise. Business management.
Historical profile of appraisal. The object of the evaluation. Valuation theory. Assessment procedures for private goods. Estimation criteria: market value, cost value, capitalization value, complementary value, transformation value, subrogation value; characters of estimation judgment, estimation procedures. Assessment procedures for public goods. Monetary and non-monetary assessments; environmental assessments. Rustic funds estimate; land enhancements; civil, rural and industrial estimate; building areas and surface rights estimate. Condominium values estimate; costs of construction; bill of quantities estimates; work in progress accounting. Expropriation for public use; real servitudes; right of usufruct. Damage estimate; caution estimate. Mortgages and loans. Estimates regarding inheritance and divisions. Procedures for the assessment of plans and projects. Economic evaluation of public and private projects. Financial statements and financial ratios. The ratios of financial evaluation. The life cycle approach. Project financing. Cadastre and census estimates. Organization of the cadastre; cadastral operations estimate. Land registry, buildings registry. Taxes and duties. Professional practice. Technical advice and arbitration. Elements of financial mathematics.
Orefice M. (2007). Estimo. Vol. 2: Estimo industriale, UTET, Torino.
Sciarelli S. (2004). Fondamenti di economia e gestione delle imprese, CEDAM, Padova.
Simonotti M. (2006). Metodi di stima immobiliare, Flaccovio, Palermo.
Assessment methods and criteria