The Economics of Speculative Construction Development (BCPM0006)

Key information

Faculty: Faculty of the Built Environment
Teaching department: Bartlett School of Sustainable Construction
Credit value: 15

Restrictions: This module is only available to students enrolled on the following programmes: MSc Construction Economics and Management MSc Project and Enterprise Management MSc Real Estate Economics and Investment Analysis Please note that places are limited on the optional modules and will be allocated to students on a first come first served basis.
Timetable

Alternative credit options

There are no alternative credit options available for this module.

Description

Studying this module, you will focus on the speculative property developer, identified as one of the most significant clients.

It will demonstrate to you how property developers operate and then embrace strategic decision-making, land acquisition, raising finance, predicting demand and managing risk. You will learn how to undertake investment project financial appraisals, sensitivity analyses and scenarios.

The lecture and seminar titles you will attend are as follows:

Introduction: Types of speculative developer including actors, roles and relationships in the development process. Simple methods of calculating investment returns and residual land valuations
Project investment appraisal using net present value (NPV). Risk and uncertainty. Where do positive NPVs 鈥榗ome from鈥�? Are property markets 鈥榚fficient鈥�?
Required return under risk: market risk, Capital Asset Pricing Model (CAPM) and beta coefficient (beta).
Managing risk and uncertainty: financial risk, unique risk and market risk.
Group presentations; case studies of firms and projects.

Module deliveries for 2024/25 academic year

Intended teaching term: Term 2 听听听 Postgraduate (FHEQ Level 7)

Teaching and assessment

Mode of study: In person
Methods of assessment: 100% Coursework
Mark scheme: Numeric Marks

Other information

Number of students on module in previous year: 61
Module leader: Professor Yiming Wang
Who to contact for more information: bssc.enquiries@ucl.ac.uk

Last updated

This module description was last updated on 8th April 2024.

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