AFX3355 - Property investment

Offered

Clayton Second semester 2009 (Day)

Synopsis

This unit considers characteristics of property investment, valuation of real estate assets, real estate market analysis, the role of equilibrium asset pricing models, real estate and portfolio theory, measurement of risk and return, indices and pricing models, the effect of leverage and taxation, real estate in mixed asset portfolios, listed and unlisted property trusts, property management and development projects.

Objectives

The learning goals associated with this unit are to:

• analyse investments in asset classes with particular emphasis on property
• critically examine the different types of property, characteristics of property markets, the role of professional investors and managers and the nature of investment vehicles employed
• explain property cycles and the role of property in investment portfolios
• evaluate property based on risk of cash flows
• apply critical thinking, problem solving and presentation skills in individual and/or group activities dealing with property investment.

Assessment

Within semester assessment: 30%
Examination (3 hours): 70%

Contact hours

3 hours per week

Prerequisites

AFC2140 or AFF2631