Real Estate Finance (2225.YR.008004.1)
General information
Type: |
OPT |
Curs: |
1 |
Period: |
S semester |
ECTS Credits: |
3 ECTS |
Teaching Staff:
| Group |
Teacher |
Department |
Language |
| Year 1 |
Antoni Candini Díaz |
Economía, Finanzas y Contabilidad |
ENG |
Prerequisites
This course is restricted to MSc in Finance students.
COURSE CONTRIBUTION TO PROGRAM
Real Estate is one of the most important business categories as well as a key resource in the economy. Real estate is the most relevant source of households' wealth, and accounts for the vast majority of households' liability due to mortgages. Moreover, real estate is an important factor for the banking system, as residential mortgages account for around 10% of bank total assets across countries. Besides, institutional investors are allocating increasing proportions of their portfolios to this asset class.
Course Learning Objectives
This class will introduce the students to understanding the drivers and determinants of the fluctuations of the housing price, and will have a macroeconomic and asset-pricing perspective to the real estate market. The class will underline the role of the liquidity of the housing market, the determinants of homeownership, and how the price-to-rent ratio can be used to derive prediction of the future path of housing returns. Also, the course will describe the macroeconomic dynamics of the construction sector, and will introduce the concept of proptech.
CONTENT
1. The Introduction to the Real Estate Market and the House Price |
2. The Macroeconomics and Asset Pricing of the Real Estate Market |
3. The Liquidity of the Housing Market and the Construction Sector |
4. Commercial Real Estate and Proptech |
5. The Covid Crisis and the Future of Urban Real Estate |
Methodology
Regular classes with many practical examples. One practical case will be worked out in groups. Selected keynote speakers (real estate developers, investors or advisors) will complement lectures.
Assessment criteria
The Final grade is determined as follows:
40% Final Exam
30% Final Group Project and presentation
30% Class participation and assignments
Important clarifications:
1. To pass the course, a minimum grade of 50% is required on both the final exam and the weighted average of all three components listed above. Specifically, if both the final exam mark and the weighted average are above 50%, then the weighted average becomes the final grade for the course. Otherwise, the final grade for the course will be the lower mark of the two.
2. In case a retake exam is needed, the grade will be 100% determined by the retake exam grade.
Timetable and sections
| Group |
Teacher |
Department |
| Year 1 |
Antoni Candini Díaz |
Economía, Finanzas y Contabilidad |
Timetable Year 1
From 2023/4/25 to 2023/5/2:
Each Tuesday from 8:00 to 9:30.
Each Tuesday from 9:45 to 11:15.
Each Tuesday from 13:30 to 15:00. (Except: 2023/4/25)
Each Tuesday from 11:45 to 13:15. (Except: 2023/4/25)
From 2023/5/16 to 2023/6/6:
Each Tuesday from 8:00 to 9:30.
Each Tuesday from 9:45 to 11:15.
Each Tuesday from 11:45 to 13:15. (Except: 2023/5/23, 2023/5/30 and 2023/6/6)
Tuesday 2023/5/16 from 13:30 to 15:00.
Tuesday 2023/6/13 from 8:00 to 11:15.
