production
Skip to Content

PO2509: PRINCIPLES OF PROPERTY VALUATION (2021-2022)

Last modified: 31 May 2022 13:05


Course Overview

This course deals with the detail of why property requires to be valued and how the valuation process operates in the UK by way of the implementation of the RICS “Red Book”. The five property valuation methods are discussed via a series of lectures supplemented by tutorials/workshops in which valuation problem-solving tasks are discussed, with a focus on the investment method and the critique of traditional approaches.  Practical valuation exercises are undertaken, which include the inspection and measurement of property and the analysis of comparable evidence.

Course Details

Study Type Undergraduate Level 2
Session Second Sub Session Credit Points 15 credits (7.5 ECTS credits)
Campus Aberdeen Sustained Study No
Co-ordinators
  • Dr N Liu

Qualification Prerequisites

  • Programme Level 2

What courses & programmes must have been taken before this course?

What other courses must be taken with this course?

None.

What courses cannot be taken with this course?

None.

Are there a limited number of places available?

No

Course Description

This course introduces students to the concept of value in UK real estate markets, including an examination of the distinguishing features of real estate markets and the different types of legal interests in property. It examines the five main methods of valuation with particular emphasis on the comparable and investment methods. Through lecture examples and tutorial exercises, the course teaches a structured approach to the assimilation and analysis of relevant evidence for valuation. It also utilizes compounding and discounting techniques and applies these to the valuation of various property types and interests. Lastly, the practical context in which valuations are conducted is considered, including the workings of the RICS Valuation Standards and how valuations are reported.


Details for second half-session courses, including assessments, may be subject to change until 23 December 2022.

Contact Teaching Time

Information on contact teaching time is available from the course guide.

Teaching Breakdown

  • 1 Seminar during University weeks 26 - 35
  • 1 Tutorial during University weeks 28 - 35, 39

More Information about Week Numbers


Details for second half-session courses, including assessments, may be subject to change until 23 December 2022.

Summative Assessments

Alternative Assessment

1x 2,000-word Valuation Report (50%)

1x 2,000-word Essay (50%)

Alternative Resit Assessment

A series of short essay questions that cover all five valuation methods. Students will have a few days to complete the questions. 

Formative Assessment

There are no assessments for this course.

Course Learning Outcomes

Knowledge LevelThinking SkillOutcome
FactualRememberILO’s for this course are available in the course guide.

Compatibility Mode

We have detected that you are have compatibility mode enabled or are using an old version of Internet Explorer. You either need to switch off compatibility mode for this site or upgrade your browser.