Real Estate Finance

Academic year 2011-12

Date last modified

23-4-2012 1:29

Period

Period 5

Startdate:

09-Apr-12

Enddate:

01-Jun-12

Code

EBC4055

ECTS credits

6.5

Organisational unit

School of Business and Economics

Coordinator

P.M.A. Eichholtz

Description

The real estate markets play a major role in the economy. By all counts, the real estate market is the largest asset market we have. Moreover, the investment characteristics of real estate differ markedly from those of other asset classes like stocks and bonds. All this makes studying the real estate markets relevant and interesting. Some of the topics addressed include: -advanced valuation issues -the real options approach to property valuation -explaining property market behaviour -diversification of the real estate portfolio -direct and indirect real estate investments -performance measurement of property investments -real estate and inflation hedge -international real estate investments -mortgages and mortgage-backed securities -property derivatives

Goals

1. Understand modern financing techniques for real estate 2. Acquire a deep understanding about real estate investment strategies and valuation 3. Understand how different real estate markets (housing, commercial real estate) behave in the light of macro economic and demographic developments

Instruction language

Prerequisites

Basic knowledge of Financial Markets, Portfolio Management and Valuation. Courses and workload are very demanding for all IB Master courses. Exchange students need to have obtained a Bachelor degree business.

Recommended literature

Reader containing book chapters and journal articles

Teaching methods

PBL
PRESENTATION(S)
LECTURE(S)
ASSIGNMENT(S)
PAPER(S)

Assessment methods

PARTICIPATION
WRITTEN EXAM

Key words