Back to Lectures
Master Immobilienbewertung (MIB)

Offered in: Summer semester
Semester: 2
Exam Type:Written proficiency certificate and oral examination

Login to Download Documents

In this lecture, methods of appraisal are presented that can be found outside Germany in many countries around the world. Not every country has developed its own appraisal methodology and therefore this lecture will address the main trends and explain them using case studies. After an introduction to the central value concepts used worldwide, the typical appraisal purposes and a brief outline of financial mathematics, the main international appraisal standards (MSVO, Red Book, USPAP, Blue Book, White Book etc.) and the largest appraiser associations (RICS, Appraisal Institute, IVSC, TEGOVA etc.) are presented. Next, an overview of nationally and internationally used appraisal methods is given. On the basis of the country-specific procedures in Germany, UK, Japan, South Korea, and the USA, essential differences are worked through and demonstrated by means of example calculations. In the second block of lectures, typical discounted cash flow methods are presented and assessed for their practical relevance. Conclusion: “All appraisal methods lead to results in line with the market, provided that their input parameters are derived from real estate market events”.