INTRODUCTION TO REAL ESTATE VALUATION

1. Module Overview
The Introduction to Real Estate Valuation course is one of six modules in the SRP-REMMI Advanced Certificate in Real Estate Management and Maintenance. The course provides knowledge in the principal factors affecting the value of real estate. It covers the concepts, principles and techniques of real estate valuation.

2. Module Structure
The course comprises of six sections:

S1:  Investments and The Real Estate Market

  • The General Investment Market
  • Characteristics of the Real Estate Market
  • Real Estate Investments

S4: Mathematics of Valuation

  • Present Value
  • Amount of $1 and Amount of $1/annum
  • Annual Sinking Fund

S2:  Definition of Market Value

  • Price vs Market Value
  • Factors Affecting Real Estate Values
  • Functions of Valuation

S5: Overview of Methods of Valuation

  • The Comparative Approach
  • Cost and Income Approach
  • Other Approaches

S3: The Valuation Process

  • Concepts of Valuation
  • Rates of Interest and Yields
  • Short and Long Term Yields

S6: Legal Considerations in Valuation

  • Responsibilities of Valuers
  • Errors in Valuation
  • Valuation Ethics

3. Learning Outcomes 
At the end of the module, trainees should be able to:
· Understand the characteristics of real estate investments
· Identify factors affecting real estate value
· Understand the role and function of valuation
· Understand and apply the mathematics of valuation and various methods of valuation
· Appreciate the legal issues in valuation and valuation ethics.

4. Course Leader
  
Mr Wong Tuck Wah, MBA, BSc (Pdtion Mgt & Manufacturing Tech)
Mr Wong retired as the Chief Operating Officer of National Trades Union Congress (NTUC) Healthcare Co-operative Limited in January 2009, and was responsible for facilities acquisition, management and business operations. Earlier postions he held include being Deputy Director of NTUC’s Administration and Research Unit and Deputy Director of the Singapore Institute of Labour Studies. He was also the workshop leader for the Valuation modules in the Oxford Brookes University BSc Estate Management programme. Mr Wong also represents the labour movement in numerous committees pertaining to workers’ education and training such as the Chinese Development Assistance Council and the Institute for Technical Education.

5. Certification  
An ‘Introduction to Town Planning Modular Certificate’ will be awarded to participants who have successfully completed the required assessments.

The modular certificate is credit transferable to gain advanced standing in the BSc Property & Facilities Management and Real Estate Management of the Liverpool John Moores University and Northumbria University in the UK respectively.

6. Module Duration, Fees & Funding Support

Module Duration

32 hours

Module Fee

$896

SDF Funding*

$224 / $352
SRP Absentee Payroll Funding** $128 / $144

Nett Cost to Company

$544 / $400
* Computed at $7/$11 per hour (eligibility criteria apply)
** Computed at $4/$4.50 per hour (eligibility criteria apply)

7. Training Schedule and Further Information
The next intake is scheduled to run from 19 Jan - 9 Feb 2010 (full-time). Please click here for a detailed schedule.

For further information, please call 64747442 or e-mail: recc@pacific.net.sg
Copyright © 2007, Real Estate & Construction Centre. E-mail: recc@pacific.net.sg