To give participants:
1. an understanding of valuation principles, concepts and practice and methods of valuation.
2. the knowledge of how a property valuation is carried out.
3. an appreciation of the relevance of real estate investments and market to property valuation in Singapore.
1. VALUATION CONCEPTS (2 HOURS)
1.1 Define property valuation.
1.2 Discuss general valuation concepts and principles.
1.3 Evaluate what market value is.
1.4 Summarise the role of a valuer.
1.5 Discuss the purpose of valuation in relation to mortgage, sale, purchase, stamp duty, estate duty, acquisition, accounting, etc.
1.6 Explain the valuation process.
2. METHODS OF VALUATION (8 HOURS)
2.1 Explain the following methods of valuation and their applications:
a) Direct Comparison Method
b) Investment Method
c) Residual Analysis
2.2. Select the most suitable valuation method in particular situations.
2.3 Understand how a simple property valuation is carried out including inspection of property, collecting data, conducting searches and forming opinion.
3 RELEVANCE OF REAL ESTATE INVESTMENTS AND MARKET TO PROPERTY VALUATION (4 HOURS)
3.1 Define investment.
3.2 Know the range of alternative investments.
3.3 Explain the measurement of investment returns.
3.4 Evaluate the advantages and disadvantages of real estate investments.
3.5 Discuss the characteristics of real estate market.
3.6 Describe real estate cycles.
3.7 Discuss the various sources of demand and supply of real estate.
3.8 Summarise the factors affecting demand and supply of real estate.
4 INTERACTION WITH REAL ESTATE INDUSTRY PRACTITIONERS