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Π.Μ.Σ στη «Χρηματοοικονομική και Τραπεζική»

M.Sc. in Banking and Finance

Real Estate Finance and Investments

Full Time// 2nd Semester, Course Code: ΜΕΧΡΗ216

Part Time // 2nd Semester, Course Code: ΜΕΧΡΗ-Μ216

Credits: 6

Learning Outcomes

The course uses the financial tools the students have used during their undergraduate studies so as to properly assess the potential alternatives of various financial tools for investments in real estate (mortgages, leasing etc), This course also offers fresh knowledge on how rents can be determined 9especially in commercial real estate), as well as it describes the available methods that evaluate the fair and correct price of a real estate unit. Finally, the course offers some special methodologies suitable for specific classes of real estate, such as distressed buildings. The above knowledge is expected to offer to students the necessary tools that will help them to form their professional career status in the real estate sector. 

After the successful completion of the course, students will be sufficiently capable of:

  • Comprehending the financial methods through which real estate investments can receive the necessary funding (mortgage loans, leasing, factoring etc).
  • Comprehending the tools and the methods that determine the appropriate price of a real estate unit (house, building etc,),
  • Comprehending the efficient distribution of rents across tenants and owners, as well as the corresponding distribution of operational expenses across tenants.
  • Comprehending how investors can increase their wealth through real estate portfolio mechanisms.
  • Collaborating with their partners in class to efficiently describe real cases in the real estate sector in relevance to finance and investments decisions, so as they can advance their career in the relevant job market.

General Competences

  • Search for, analysis and synthesis of data and information, with the use of the necessary technology
  • Decision making
  • Working independently
  • Team work
  • Working in an international environment
  • Production of new research ideas   
  • Project planning and management

Course Content

Types of mortgage loans

Other financial methods in real estate

Types of real estate units

Real estate prices-determination and methods of price evaluation

Methods of rents determination

Methods of operational expenses distribution across tenants or between tenants and owners

Investment decisions in special types of real estate units (distressed buildings)

  • Real estate portfolio decisions

Student Performance Evaluation

For the overall students’ evaluation there is a final exam (60% of the final grade) which contains practical.numerical problems

As well as the writing of an essay (40% of the final grade)

Bibliography

Suggested Bibliography

  • Brueggeman, W. B. and Fisher, J. D. (2005) Real Estate Finance & Investments (12th Edition), New York City, NY: McGraw-Hill/Irwin.
  • Clauretie T. and Sirmans G. S. (2006) Real Estate Finance: Theory and Practice, Thomson, South-Western, Australia.
  • Green, R. and S. Malpezzi (2004) ‘U.S. Housing Markets and Housing Policy, Urban Institute Press.
  • Ling, D. C. and Archer, W. R.  (2010) Real Estate Principles: A Value Approach (3rd Edition), McGraw-Hill, Irwin.
  • Linneman, P. (2004) ‘Real Estate Finance & Investments: Risks and Opportunities (2nd Edition), Philadelphia: Linneman Associates.

Related Academic Journals

  • JOURNAL OF REAL ESTATE ECONOMICS
  • JOURNAL OF HOUSING ECONOMICS
  • JOURNAL OF FINANCE
  • FINANCIAL REVIEW

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