ESTIMO E POLITICA AGRICOLA EUROPEA
Module Real Estate Valuation

Academic Year 2025/2026 - Teacher: GIUSEPPE CUCUZZA

Expected Learning Outcomes

The aim of the course is to provide the skills necessary for the development of an objective judgment, compliant with international estimation standards, articulated, transparent and corresponding to the practical reason for the estimate and the needs of economic justice.

 In terms of learning, the achievable results can be summarized as follows:

Knowledge and understanding - ability to acquire useful knowledge to understand how to proceed in the elaboration of an appropriate judgment of estimate

Ability to apply knowledge and understanding - adequate skills to understand how to deal with the main estimation cases of agricultural interest through appropriate estimation methodologies and procedures

Autonomy of judgment - ability to elaborate an objective, transparent, replicable and coherent judgment of estimation with the axiomatization of the estimation discipline

Communication skills - ability to illustrate the methodological and application path used for the elaboration of the estimate of the value sought also with reference to the activities of reviewing estimate reports prepared by third parties

Learning skills - Acquisition of knowledge useful for operating in the world of work in the context of estimating the value of assets and rights with reference to the agricultural sector

Course Structure

The course includes lectures through lectures lasting 21 hours and classroom exercises lasting 42 hours, possible seminars and technical visits to institutions, structures or companies.

If the teaching is given in a mixed or remote mode, the necessary changes may be introduced with respect to what was previously stated, in order to comply with the program envisaged and reported in the syllabus.

To guarantee equal opportunities and in compliance with the laws in force, interested students can ask for a personal interview in order to plan any compensatory and / or dispensatory measures, based on the didactic objectives and specific needs. It is also possible to contact the referent teacher CInAP (Center for Active and Participated Integration - Services for Disabilities and / or SLD) of the Department.

Required Prerequisites

No prerequisite is required

Attendance of Lessons

Attendance at the course is not compulsory, however it is strongly recommended as it facilitates the learning process

Detailed Course Content

By means of applications referring to several notable cases, the operating diagrams for the estimate of the value of rustic funds even in the presence of legal limitations to the right of ownership, the methods of investigation and analysis of the land market, guidelines for the preparation of due diligence real estate, and the tools for carrying out professional practice in concessions credit, in the estimation of damages, of green areas and ornamental plants.

Contribution of the course to the goals of the 2030 Agenda for Sustainable Development:

Goal 4: Quality Education

Ensure inclusive and equitable quality education and promote lifelong learning opportunities for all

4.4 By 2030, substantially increase the number of youth and adults who have relevant skills, including technical and vocational skills, for employment, decent jobs and entrepreneurship

Goal 8: Decent work and economic growth

Promote sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all

Target

8.10 Strengthen the capacity of domestic financial institutions to encourage and expand access to banking, insurance and financial services for all

Goal 11: Make cities and human settlements inclusive, safe, resilient and sustainable

Target 11.a Support positive economic, social and environmental links between urban, peri-urban and rural areas by strengthening national and regional development planning

Goal 16 Promote peaceful and inclusive societies for sustainable development, provide access to justice for all and build effective, accountable and inclusive institutions at all levels

Target

16.6 Develop effective, accountable and transparent institutions at all levels


Textbook Information

Betts, R.M. Estate Appraisal. Principles & Procedures, 8th ed. Cengage Learning, , Mason OH 45040, USA, 2012, ISBN: 978-1-133-49594-9.

Course Planning

 SubjectsText References
1Appraisal theory: Market value and values ​​other than market value; the appraisal process, method, and procedures.Textbook 3
2Diachronic criteria and the double segment method Didactical material produced by the teacher
3Review of financial calculation principles. Interest rates and rate conversionTextbook 3 and didactical material produced by the teacher 
4Land market analysis and search for similar assets.Textbook 3 and didactical material produced by the teacher
5Even-aged and independent fruit orchards: overview and notable cases. Appraisal of even-aged, non-independent orchards and non-specialized orchardsDidactical material produced by the teacher
6Appraisals of rural land – notable cases. Appraisal of rural land susceptible to improvement: procedures and applicationsDidactical material  produced by the teacher
7Appraisal of mountain pasturesDidactical material produced by the teacher
8Appraisal of woodlands and forestsDidactical material produced by the teacher
9Appraisal of ornamental plantsDidactical material produced by the teacher
10Appraisal of damage and insured valueDidactical material produced by the teacher
11Appraisals in expropriations for public utility purposes – notable casesDidactical material produced by the teacher
12Appraisal of usufruct rights for civil and tax purposes. Appraisal of the right of use and habitationDidactical material produced by the teacher
13Appraisal of easements of predial, right of way, aqueduct, power line, gas pipeline, and military rightsDidactical material produced by the teacher
14Succession and inheritance divisionsDidactical material produced by the teacher
15Cost value and appraisal of building areas Textbook 3 and didactical material  produced by the teacher
16Determining income and rate in capitalization appraisals Textbook 3 and didactical material produced by the teacher
17Review of the purposes, characteristics, and structure of the Italian land registry. Identification and analysis of property cadastral documentation. Rural buildings: identification of objective and subjective requirementsDidactical material produced by the teacher
18Conformity of documentation in the appraisal of real estate: acceptance of the assignment; assessments and preparation of the due diligence reportDidactical material produced by the teacher
19Expert activity and appraisal report. The role of the technical consultant and the technical consultant. Arbitration. Preliminary technical assessment, sworn appraisal, and certified appraisalDidactical material produced by the teacher
20Valuation standards and the certified real estate appraiserDidactical material produced by the teacher

Learning Assessment

Learning Assessment Procedures

Verification of learning takes place through written tests and oral interview.

The evaluation of the student's preparation will take place on the basis of the following criteria: learning ability and level of depth of the topics covered, properties of synthesis and exposition, and the student's ability to reason.

The vote follows the following scheme:

Unsuitable

Knowledge and understanding of the topic: Important shortcomings. Significant inaccuracies

Ability to analyze and synthesize: Irrelevant. Frequent generalizations. Inability to synthesize

Use of references: Completely inappropriate

18-20

Knowledge and understanding of the topic: At the threshold level. Obvious imperfections

Analysis and synthesis skills: Just enough skills

Use of references: As appropriate

21-23

Knowledge and understanding of the topic: Routine knowledge Analysis and synthesis skills: It is capable of correct analysis and synthesis. Argue logically and consistently

Using references: Use standard references

24-26

Knowledge and understanding of the topic: Good knowledge

Analysis and synthesis skills: Has good analysis and synthesis skills. The arguments are expressed consistently

Using references: Use standard references

27-29

Knowledge and understanding of the topic: Knowledge more than good

Ability to analyze and synthesize: He has considerable abilities of analysis and synthesis

Use of references: Has explored the topics

30-30L

Knowledge and understanding of the topic: Excellent knowledge

Ability to analyze and synthesize: He has considerable abilities of analysis and synthesis.

Use of references: Important insights

Examples of frequently asked questions and / or exercises

Market analysis and research of comparison goods;

Estimate of a rustic land;

Equivalent essays;

Capitalization of an income stream;

Expropriations for public utility;

Determination of the right of usufruct for tax purposes;

Estimation of ornamental plants;

Estimation of the woods;

Appraisal and professional activity;

CTU and CTP.

Evaluation report