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| HRT4042 | Real Estate Valuation | 2+0+0 | ECTS:3 | | Year / Semester | Spring Semester | | Level of Course | First Cycle | | Status | Compulsory | | Department | DEPARTMENT of GEOMATICS ENGINEERING | | Prerequisites and co-requisites | None | | Mode of Delivery | | | Contact Hours | 14 weeks - 2 hours of lectures per week | | Lecturer | Arş. Gör. Fatih TERZİ | | Co-Lecturer | | | Language of instruction | Turkish | | Professional practise ( internship ) | None | | | | The aim of the course: | | To provide that the students have idea on land valuation methods, and produce valuation maps and also they use GIS for land valuation. |
| Learning Outcomes | CTPO | TOA | | Upon successful completion of the course, the students will be able to : | | | | LO - 1 : | Understand the terms property and valuation, and comprehend the importance of valuation in land management. | 29 | 1, | | LO - 2 : | Understand methods of valuation and components of valuation in land compensation. | 24 | 1, | | LO - 3 : | Understand functions of experts, and learn preparing expert reports and calculating land value. | 24 | 1, | | LO - 4 : | Interpret the impact of urban development on real estate value and learn the use of real estate valuation methods in different processes such as urban transformation. | 28 | 1, | | CTPO : Contribution to programme outcomes, TOA :Type of assessment (1: written exam, 2: Oral exam, 3: Homework assignment, 4: Laboratory exercise/exam, 5: Seminar / presentation, 6: Term paper), LO : Learning Outcome | | |
| The Real Estate Valuation course aims to provide comprehensive knowledge about the fundamental concepts, legislation, and methods used in determining the value of real estate properties. The course will begin by exploring the concept of real estate, followed by an in-depth examination of valuation legislation and methodologies. Key topics such as factor selection in land and plot valuation, unit value calculations, and land appraisal will be covered. The importance of valuation in privatization processes, the determination and updating of land value indices, and institutional regulations will also be discussed. Additionally, the course will focus on the production and interpretation of value maps, emphasizing the significance of using Geographic Information Systems (GIS) in land valuation, supported by practical examples. This course aims to equip students with the ability to analytically evaluate real estate valuation processes and conduct accurate analyses using modern technologies. |
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| Course Syllabus | | Week | Subject | Related Notes / Files | | Week 1 | Introduction to real estate valuation; basic concepts in valuation; movables subject to valuation; real estate property, its scope and relationship with valuation; real estate valuation in Turkish law | | | Week 2 | Assets that can be valued; requirements for valuation; market and market types; real estate market and market actors | | | Week 3 | Important factors in demand analysis; types of real estate values | | | Week 4 | Terms related to valuation, real estate valuation process | | | Week 5 | Matters to be considered in valuation | | | Week 6 | Examining the classes and legality of structures | | | Week 7 | Global construction costs; valuation methods; the process of value formation in land | | | Week 8 | Types of soil in terms of usability; components of the plot | | | Week 9 | Mid-term exam | | | Week 10 | The process of transforming agricultural land into urban land | | | Week 11 | Schematic representation and interpretation of the increase in the value of a unit square meter of land; urban rent theories | | | Week 12 | Negative consequences of not being able to transfer urban rents to the public | | | Week 13 | Methods for returning urban rents to the public | | | Week 14 | The concept of "Property Analysis Report (PAR)" in the context of real estate valuation | | | Week 15 | Valuation processes in urban transformation | | | Week 16 | Final exam | | | |
| 1 | Yomralıoğlu, T., 1995. Tasınmazların Değerlendirilmesi, Ders notaları, KTÜ, Trabzon | | | 2 | Açlar, A. ve Çağdas, V., 2002; Taşınmaz (Gayrimenkul) Değerlemesi, 1. baskı, TMMOB Harita ve Kadastro Mühendisleri Odası, Remark, Ankara | | | 3 | Yomralıoğlu, T., 1997a. Kentsel Alan Düzenlemelerinde Dmar Planı Uygulama Teknikleri, Tasınmazların Değerlendirilmesi ve Kat Mülkiyeti Mevzuatı, Jeodezi ve Fotogrametri Derneği, 1, 153-169, Trabzon | | | 4 | Nisancı, R. 2003; Kentsel Tasınmaz Değer Haritalarının Olusturulması, TMMOB Harita ve Kadastro Mühendisleri Odası 9. Türkiye Harita Bilimsel ve Teknik Kurultayı,Kurultay Kitabı, 171-180, Ankara | | | 5 | Yomralıoğlu, T., 1993; The Investigation of a Value-Based Urban Land Readjustment Model And Its Implementation Using Geographical Information Systems, Doktora Tezi, University of Newcastle Upon Tyne | | | 6 | Yomralıoğlu, T., 2000. Coğrafi Bilgi Sistemleri Temel Kavramlar ve Uygulamalar, 1. baskı. Seçil Ofset, İstanbul. | | | 7 | Nişancı, R., 2005; Coğrafi Bilgi Sistemleri ile Nominal Değerleme Yöntemine Dayalı Piksel Tabanlı Kentsel Taşınmaz Değer Haritalarının Üretilmesi, KTÜ Fen Bilimleri Enstitüsü, Trabzon | | | 8 | Kone, L.D., 2006. Land Development Tenth Edition, Books That Build Your Business, ISBN-13, 978-0-86718-609-3 | | | 9 | Williamson, I., Enemark S., Wallace J. and Rajabifard A., 2009. Land Administration for Sustainable Development, ESRI Press Academic, Redlands, California. | | | |
| Method of Assessment | | Type of assessment | Week No | Date | Duration (hours) | Weight (%) | | Mid-term exam | 9 | | | 50 | | End-of-term exam | 16 | | | 50 | | |
| Student Work Load and its Distribution | | Type of work | Duration (hours pw) | No of weeks / Number of activity | Hours in total per term | | Yüz yüze eğitim | 2 | 15 | 30 | | Arasınav için hazırlık | 8 | 1 | 8 | | Arasınav | 1.2 | 1 | 1.2 | | Dönem sonu sınavı için hazırlık | 12 | 1 | 12 | | Dönem sonu sınavı | 1.3 | 1 | 1.3 | | Total work load | | | 52.5 |
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