Introduction to Valuation I

At the end of this course, students should be able to: 1. obtain sound knowledge of the foundational principles of investment mathematics which is fundamental to understanding of Valuation; 2. appreciate the fact that Valuation is the primary subject of study in the Estate Surveying and Valuation Profession; 3. gain understanding of the mathematical processes used in property investment analysis and decision-making; 4. develop basic understanding of the fundamentals of valuation; 5. improve understanding of Valuation mathematics; and 6. be conversant with the principles of value.

Introduction to investment mathematics. Simple interest calculations, compound interest calculations. Basic valuation mathematics, amount of one-naira calculations, present value of one- naira calculations, interrelationship between the amount of one naira and the present value formula, different ways of expressing the main components in the formula such as interest (i), number of (n) and the capital invested. Nature/theories and definitions of value, definitions and purposes of valuation. The functions of a valuer. Income, prices, cost and their relation to value. The economic constitutional, geographical, sociological, environmental, political and legal bases of property value. Principal types of landed property in Nigeria.