ESTIMO E POLITICA AGRICOLA EUROPEAModule Real Estate Valuation
Academic Year 2025/2026 - Teacher: GIUSEPPE CUCUZZAExpected 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
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
| Subjects | Text References | |
|---|---|---|
| 1 | Appraisal theory: Market value and values other than market value; the appraisal process, method, and procedures. | Textbook 3 |
| 2 | Diachronic criteria and the double segment method | Didactical material produced by the teacher |
| 3 | Review of financial calculation principles. Interest rates and rate conversion | Textbook 3 and didactical material produced by the teacher |
| 4 | Land market analysis and search for similar assets. | Textbook 3 and didactical material produced by the teacher |
| 5 | Even-aged and independent fruit orchards: overview and notable cases. Appraisal of even-aged, non-independent orchards and non-specialized orchards | Didactical material produced by the teacher |
| 6 | Appraisals of rural land – notable cases. Appraisal of rural land susceptible to improvement: procedures and applications | Didactical material produced by the teacher |
| 7 | Appraisal of mountain pastures | Didactical material produced by the teacher |
| 8 | Appraisal of woodlands and forests | Didactical material produced by the teacher |
| 9 | Appraisal of ornamental plants | Didactical material produced by the teacher |
| 10 | Appraisal of damage and insured value | Didactical material produced by the teacher |
| 11 | Appraisals in expropriations for public utility purposes – notable cases | Didactical material produced by the teacher |
| 12 | Appraisal of usufruct rights for civil and tax purposes. Appraisal of the right of use and habitation | Didactical material produced by the teacher |
| 13 | Appraisal of easements of predial, right of way, aqueduct, power line, gas pipeline, and military rights | Didactical material produced by the teacher |
| 14 | Succession and inheritance divisions | Didactical material produced by the teacher |
| 15 | Cost value and appraisal of building areas | Textbook 3 and didactical material produced by the teacher |
| 16 | Determining income and rate in capitalization appraisals | Textbook 3 and didactical material produced by the teacher |
| 17 | Review 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 requirements | Didactical material produced by the teacher |
| 18 | Conformity of documentation in the appraisal of real estate: acceptance of the assignment; assessments and preparation of the due diligence report | Didactical material produced by the teacher |
| 19 | Expert activity and appraisal report. The role of the technical consultant and the technical consultant. Arbitration. Preliminary technical assessment, sworn appraisal, and certified appraisal | Didactical material produced by the teacher |
| 20 | Valuation standards and the certified real estate appraiser | Didactical 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