Course Information


Course Information
Course Title Code Semester L+U Hour Credits ECTS
PRINCIPLES AND PRACTICES OF REAL ESTATE AND ASSET VALUATION I 805000715200 3 + 0 3.0 8.0

Prerequisites None

Language of Instruction Turkish
Course Level Graduate Degree
Course Type Compulsory
Mode of delivery
Course Coordinator
Instructors Harun TANRIVERMİŞ
Assistants
Goals The course aims to contribute to the training of qualified technical personnel and to educate specialists who can prepare evaluation reports that can meet the needs of public and private institutions and real persons.
Course Content Scope and content are, valuation applications in the Turkish legal system: valuation applications for purchase and sale, mortgage loan and housing finance, expropriation, easement rights, temporary occupation and establishment of limited real right, taxation, insurance, land consolidation and reform applications, income and lease analyses, loss, amount of adequate pay, inheritance, goodwill applications and condominium, sale of public properties, privatization and nationalization and special purpose valuation processes, real estate value and rent indices and use in real estate analysis, mass valuation applications: theoretical principles and applications, creation and use of value maps, valuation profession and expertise applications, institutionalization of valuation profession, basic valuation standards: International Valuation Standards (IVSC), RICS Professional Standards - Red Book (RICS), (RICS Professional Standards), US Appraisal Standards and Appraisal Standards Board Standards for Professional Appraisal Practices (RICS) Professional Appraisal Practices (USPAP)) and other international organizations' standards, RICS Vocational Qualification Code and Scope (APC), International Property Measurement Standard (IPMS). valuation standards and practices in Turkey, expertise and valuation expert studies: quality reporting and analysis, case studies and projects selected applications and presentations.
Learning Outcomes 1) Learns the stages, purposes, goals and importance of valuation, value concepts and scopes.
2) Learns and applies the stages of collecting, analyzing and evaluating data
3) Gain an idea about the legal regulations regarding valuation in Turkey and the EU
4) Learns privatization and nationalization, special purpose valuation processes, identification and valuation of land and buildings by practicing
5) Discusses the difficulties and main problems in valuation practices in Turkey

Weekly Topics (Content)
Week Topics Teaching and Learning Methods and Techniques Study Materials
1. Week Appraisal practices in the Turkish Legal System: purchase and sale, mortgage loans and mortgage financing (mortgage) Lecture; Question Answer; Problem Solving; Discussion
Brainstorming
Brain Based Learning
Presentation (Including Preparation Time)
2. Week Appraisal practices in the Turkish legal system: expropriation, easement rights, temporary (temporary) occupation and appraisal of the establishment of limited rights, taxation, insurance, land consolidation and reform implementations Lecture; Question Answer; Problem Solving; Discussion
Brainstorming
Brain Based Learning
Presentation (Including Preparation Time)
3. Week The appraisal practices in the Turkish legal system include income, leasing and rent analysis, damage and loss, unjust occupation, inheritance, goodwill applications and floor ownership, sale of public properties, privatization and nationalization and special purpose valuation transactions , real estate value and rent indices and use in real estate analysis Lecture; Question Answer; Problem Solving; Discussion
Brainstorming
Brain Based Learning
Presentation (Including Preparation Time)
4. Week Appraisal practices in the Turkish legal system: analysis of individual and mass (mass) appraisal legislation and its applications Lecture; Question Answer; Problem Solving; Discussion
Brainstorming
Brain Based Learning
Presentation (Including Preparation Time)
5. Week Production and use of value maps, development of real estate rent and value indices and use in real estate analysis Lecture; Question Answer; Problem Solving; Discussion
Brainstorming
Brain Based Learning
Presentation (Including Preparation Time)
6. Week International Valuation Standards Council (IVSC): International valuation standards Lecture; Question Answer; Problem Solving; Discussion
Brainstorming
Brain Based Learning
Presentation (Including Preparation Time)
7. Week Royal Institution of Licensed Appraisers (RICS): RICS Professional Appraisal Standards (Red Book-Red Book) Lecture; Question Answer; Problem Solving; Discussion
Brainstorming
Brain Based Learning
Presentation (Including Preparation Time)
8. Week Licensed Appraisers The RICS (RICS): RICS code of ethics, RICS vocational qualification code and scope (Assesment of Professional Competence - APC) Lecture; Question Answer; Problem Solving; Discussion
Brainstorming
Brain Based Learning
Presentation (Including Preparation Time)
9. Week (Such as the Uniform Standards of Professional Appraisal Practices (USPAP)) enforced by the Appraisal Institute in the US and the Appraisal Standards Board, Lecture; Question Answer; Problem Solving; Discussion
Brainstorming
Brain Based Learning
Presentation (Including Preparation Time)
10. Week The Canadian Appraisal Institute's Professional Appraisal Practices (CUSPAP) and European Appraisal Association Standards (EVS - The Blue Book) Lecture; Question Answer; Problem Solving; Discussion
Brainstorming
Brain Based Learning
Presentation (Including Preparation Time)
11. Week Internationalization of real estate and asset valuation standards: international property measurement standards (IPMS), real estate and asset market brokerage standards (RICS Real Estate Agency & Brokerage Standards-REABS) Lecture; Question Answer; Problem Solving; Discussion
Brainstorming
Brain Based Learning
Presentation (Including Preparation Time)
12. Week RICS vocational qualification code and scope (Assesment of Professional Competence - APC), comparative analysis and evaluation of international organizations' evaluation standards with the Turkish Legal System Lecture; Question Answer; Problem Solving; Discussion
Brainstorming
Brain Based Learning
Presentation (Including Preparation Time)
13. Week The valuation standards and practices in Turkey are as follows: Capital Markets Board (CMB), Banking Regulation and Supervision Agency (BDDK), Turkish Valuation Experts Association (TDUB) and Public Oversight Agency Accounting and Auditing Standards Agency standards Lecture; Question Answer; Problem Solving; Discussion
Brainstorming
Brain Based Learning
Presentation (Including Preparation Time)
14. Week Expertise and valuation expertise: reporting and quality analysis, institutionalization of valuation expertise Lecture; Question Answer; Problem Solving; Discussion
Brainstorming
Brain Based Learning
Presentation (Including Preparation Time)

Sources Used in This Course
Recommended Sources
Alternative Methods of Capitalizing Income From Orchard, Groves and Vineyards, Casler, G.L. ve White, G.B. Cornell University Staff Paper, July 1982, No: 82-22, USA, 1982.
Bank of International Settlements (BIS), Housing Finance in the Global Financial Market, Committee on the Global Financial System Papers No.26, Basel, 2006.
Basic Real Estate Appraisal, Sixth Edition, Betts, R.M. ve Ely, S.J., Thomson, USA, 2005.
Compulsory Purchase and Compensation, Fifth Edition, Denyer-Green, B., Estates Gazette, London, UK, 1998.
Economic and Cultural Value in the Work of Creative Artists, Thorsby, D., Getty Instute Research Report, The Getty Conservation Institute, Los Angeles, USA, 1997.
Ermenek Barajı ve Hidroelektrik Santrali Projesi Kamulaştırma Alanındaki Arazilerin Gelirleri, Kapitalizasyon Oranları ve Birim Arazi Değerlerinin Araştırılması, Tanrıvermiş, H., Akipek, Ş., Bayramin, İ., Gün, A.S. ve Aliefendioğlu, Y., Ankara Üniversitesi Fen Bilimleri Enstitüsü Taşınmaz Geliştirme Anabilim Dalı Yayın No:1, Ankara, 2008.
Fundamentals of Mass Appraisal, Gloudemans, R. ve Almy, R., International Association of Assessing Officers, Kansas City, Missouri, USA, 2011.
Gayrimenkul Değerlemesi, Töre, E., Onikinci Baskı, İ.Ü. Yayın No:4487, Sosyal Bilimler Meslek Yüksekokulu Yayın No:2, İstanbul, 2004.
Int Standard on Mass Appraisal of Real Property,ernational Association of Assessing Officers (IAAO), Kansas City, Missouri, USA, 2013.
İmar Mevzuatımızda Planlama Kademeleri ve Üst Ölçek Planlama Sorunu, Ersoy, M., Bölgesel Kalkınma ve Yönetişim Sempozyumu, ODTÜ Şehir ve Bölge Planlama Bölümü, Ankara,
Kentsel Dönüşüm Sürecinde Taşınmaz ve Proje Değerleme İşlemleri ve Sorunlarının Analizi: Kayseri Büyükşehir Belediyesi Sahabiye ve Fatih Mahalleleri Dönüşüm Projesi Örneği Çerçevesinde Değerlendirme, Aliefendioğlu, Y., Tanrıvermiş, H., Uluslararası Sosyal Araştırmalar Dergisi, Cilt: 8(39): 736-769, 2015.
Land Resource Economics: The Economics of Real Estate, 4th Edition,Barlow R., Englewood Cliffs, N.J.:Prentice-Hall, USA, 1986.
Principles of Real Estate, Fourteen Edition,Banks, J.A., Cary, S.M., Harmon, L.C. ve Zucker-Maltese, C.R., IREM Institute of Real Estate Management, Chicago, USA, 2001.
Taşınmaz (Gayrimenkul) Değerlemesi, Açlar, A. ve Çağlar, V., TMMOB Harita ve Kadastro Mühendisler Odası Yayını, Ankara, 2002.
The Student Handbook to The Appraisal of Real Estate, 13th Edition, Rattermann, M.R., US Appraisal Institute, USA, 2009.
The Valuation of Apartment Properties, 2nd Edition, Mills, A., Parli, R. ve Reynolds, A., US Appraisal Institute, USA, 2008.
The Values of Cultural Heritage: Merging Economic and Cultural Appraisals, Klamer, A. ve Zuidhof, P.W., In: M.de la Tore and R. Mason (Eds), Economics and Heritage Conservation, Getty Conservation Institute, Los Angeles, USA, 1998.

Relations with Education Attainment Program Course Competencies
Program RequirementsContribution LevelDK1DK2DK3DK4DK5
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PY2500000
PY3500000
PY4500000
PY5500000
PY6555555
PY7555555
PY8554555
PY9555455
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PY14555555
PY20444444

*DK = Course's Contrubution.
0 1 2 3 4 5
Level of contribution None Very Low Low Fair High Very High
.

ECTS credits and course workload
Event Quantity Duration (Hour) Total Workload (Hour)
Course Duration (Total weeks*Hours per week) 14 3
Work Hour outside Classroom (Preparation, strengthening) 14 3
Homework 4 30
Final Exam 1 6
Time to prepare for Final Exam 1 30
Total Workload
Total Workload / 30 (s)
ECTS Credit of the Course
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Course Information