Real Estate Investment

2018-2019

Course Objective

After taking this course students:
- know the main characteristics of the stock of real estate
- know the principles of Dutch land use planning and housing policy
- know the essentials of real estate valuation
- know the main characteristics of the construction industry, real
estate markets and related financial markets
- are able to analyze the aforementioned issues from an economic
perspective
- are able to analyze the main features of real estate investments both
at the property and portfolio level

Course Content

A large part of the national capital stock consists of real estate. Most
of it is located in cities. Within cities there is a concentration in a
small number of centers and subcenters. The built environment is the
result of past and current investments in real estate and the course
introduces you into its analysis. After a general introduction that
emphasizes the
important role of real estate in the (urban) economy, the basics of real
estate valuation (yield, DCFM), land use policy and housing market
policy (including the specifics of the Dutch situation) will be
discussed. We will study residential as well as commercial markets
(offices, shops, industrial real estate). Attention will be paid to the
interplay between economic and planning issues in the generation of new
real estate in residential and commercial areas. We will analyze the
financing of real estate investments by studying their structure
(organizational forms and joint ventures), to the secondary mortgage
markets and to real estate investement trusts (REITs).

Teaching Methods

Lectures, tutorials

Method of Assessment

Written exam (75%), assignments (25%).

Literature

William B. Brueggeman and Jeffrey D. Fisher ‘Real Estate Finance and
Investments’ McGraw-Hill, 760 blz.
Barrie Needham 'Dutxh Land-use Planning' Routledge, 236 blz

General Information

Course Code E_EBE3_REI
Credits 6 EC
Period P1
Course Level 300
Language of Tuition English
Faculty School of Business and Economics
Course Coordinator dr. F. Hamelink
Examiner dr. F. Hamelink
Teaching Staff dr. F. Hamelink
prof. dr. J. Rouwendal

Practical Information

You need to register for this course yourself

Last-minute registration is available for this course.

Teaching Methods Study Group, Lecture
Target audiences

This course is also available as: