Information Package / Course Catalogue
Realestate Appraisal
Course Code: EMY216
Course Type: Required
Couse Group: Short Cycle (Associate's Degree)
Education Language: Turkish
Work Placement: N/A
Theory: 3
Prt.: 0
Credit: 3
Lab: 0
ECTS: 3
Objectives of the Course

The aim of this course is to enable students to recognize the factors affecting real estate value and learn basic valuation methods at an applicable level.

Course Content

The course covers the concept of value, types of value, location, zoning, building quality, market conditions, sales comparison approach, cost approach, income approach, and valuation of housing, plots, land, and commercial real estate.

Name of Lecturer(s)
Learning Outcomes
1.The student explains the concept of real estate valuation and the need for valuation.
2.The student distinguishes value types such as market value, fair value, investment value, and rental value.
3.The student analyzes location, zoning, building, and market factors affecting real estate value.
4.The student explains the basic logic of the sales comparison, cost, and income approaches.
5.The student performs a basic valuation analysis for a sample property.
Recommended or Required Reading
1.Instructor’s Lecture Notes
Weekly Detailed Course Contents
Week 1 - Theoretical
Introduction to Real Estate Valuation: The concept of real estate valuation, the need for valuation, its importance for the real estate sector, and its areas of use are explained.
Week 2 - Theoretical
The Concept of Value and Types of Value: Basic types of value such as market value, fair value, investment value, rental value, insurance value, and liquidation value are discussed.
Week 3 - Theoretical
Factors Affecting Real Estate Value: Location, transportation, environmental features, zoning status, building quality, supply-demand balance, and economic conditions are examined.
Week 4 - Theoretical
Valuation Process and Data Collection: Determining the purpose of valuation, identifying the property, reviewing documents, fieldwork, collecting market data, and the analysis process are explained.
Week 5 - Theoretical
The Effect of Land Registry, Cadastre, and Zoning Information on Valuation: Title deed records, encumbrances, parcel information, zoning status, construction conditions, and legal restrictions are discussed in terms of valuation.
Week 6 - Theoretical
Sales Comparison Approach: Comparison of similar properties, selection of comparable properties, adjustment factors, and the effects of location and property characteristics on value are explained.
Week 7 - Practice
Basic Comparable Analysis Practice: Students are asked to make a basic value estimate for a sample house or land using comparable market data.
Week 8 - Theoretical
Cost Approach: Land value, construction cost, depreciation, replacement cost, and the cost approach especially for new or special-purpose buildings are explained.
Week 9 - Theoretical
Income Approach: Rental income, net income, capitalization rate, payback period, and valuation of income-producing real estate are discussed.
Week 10 - Theoretical
Residential Property Valuation: The effects of location, building age, floor level, facade, view, social facilities, and usage condition on the value of apartments, detached houses, villas, and housing complex units are examined.
Week 11 - Theoretical
Land and Plot Valuation: The valuation logic for plots, fields, vineyards, orchards, development areas, and zoned or unzoned properties is explained together with development rights and investment potential.
Week 12 - Theoretical
Commercial Real Estate Valuation: Rental income, customer density, visibility, accessibility, and commercial potential are evaluated for shops, offices, warehouses, workplaces, and commercial spaces.
Week 13 - Theoretical
Valuation Report, Ethics, and Professional Responsibility: The sections of a valuation report, impartiality, accuracy, indicating data sources, avoiding misleading valuation, and professional ethical principles are explained.
Week 14 - Theoretical
General Review and Practical Valuation Study: The semester topics are reviewed; students are asked to prepare a short valuation analysis and final report for a sample property.
Assessment Methods and Criteria
Type of AssessmentCountPercent
Assignment1%5
Quiz1%5
Midterm Examination1%30
Final Examination1%60
Workload Calculation
ActivitiesCountPreparationTimeTotal Work Load (hours)
Lecture - Theory140342
Assignment1022
Quiz1055
Midterm Examination101010
Final Examination101616
TOTAL WORKLOAD (hours)75
Contribution of Learning Outcomes to Programme Outcomes
PÇ-1
PÇ-2
PÇ-3
PÇ-4
PÇ-5
PÇ-6
PÇ-7
PÇ-8
PÇ-9
PÇ-10
OÇ-1
3
4
3
3
3
4
4
3
4
3
OÇ-2
4
3
3
4
3
4
3
4
3
4
OÇ-3
3
4
3
4
4
3
4
3
4
3
OÇ-4
4
4
3
4
3
4
2
3
4
3
OÇ-5
3
4
4
3
2
3
4
3
4
3
Adnan Menderes University - Information Package / Course Catalogue
2026