About Program
The program consists of 3 terms. The courses included in the program cover economics of real estate, real estate financing, statistics, marketing, appraisal, real estate law, real estate legislation and related tax and accounting courses. In order to complete program 7 compulsory and three elective courses are required.
Objectives
The graduate program in Real Estate Finance and Evaluation aims to enable students to gain relevant knowledge and skills related to the tools in the real estate sector so as to be able to improve the efficiency of capital investments in real estate and bring a solution to the problem of informality.
The total credits required for the satisfactory completion of the curriculum are 30 credits. The program additionally requires a graduation project to be successful completed.
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CURRICULUM!
Elective Course List
Code Course Title *C **A ***L+P Hours Credits
E-GYM 529 Çevreve Kent Sosyolojisi Yes Yes 3 + 0 3
E-GYM 531 Proje Değerleme ve Raporlama Yes Yes 3 + 0 3
E-GYM 533 Gayrimenkul Tesis Yönetimi Yes Yes 3 + 0 3
E-GYM 535 Şirket Değerlemesi Yes Yes 3 + 0 3
E-GYM 537 İnşaat Sözleşmeleri ve Uygulamaları Yes Yes 3 + 0 3 E-GYM 539 Kamulaştırma Teknikleri ve Kentsel Alan
Düzenlemesi
Yes Yes
3 + 0 3
E-GYM 540 Gayrimenkul Satış ve Pazarlama Yes Yes 3 + 0 3
E-MBA 523 Finansal Yönetim Yes Yes 3+0 3
Grand Total:
30
60
*C: Compulsory
Course Descriptions
GYM511 Gayrimenkul Ekonomisi ve Finansal Analiz (Real Estate Economics and Financial Analysis) (3 credits) The aim of related course is to examine the real estate market in the country and to investigate the real estate financing markets within the frame of the act related to housing finance came into force in 2007. In this context, the real estate financing market, sources of funds on the market and financing methods used in the market will be discussed, and by detailing the concept of mortgage, types of mortgage loans granted in the first hand mortgage market, risks encountered in loans and the concept of mortgage insurance will be detailed in the course. Furthermore, the concept of securitization, the important element of the second hand mortgage market will be analyzed in the course. Under this main heading, the definition of securitization, emergence and development of securitization methods, the parties involved in the securitization process and other factors related to the process, securitization methods, the benefits and drawbacks of securitization practices, and receivable types subject to securitization applications will be discussed. Lastly, the real estate market in Turkey and its financing will be described in detail in the course. In this chapter, the place and importance of mortgaged real estate loans in Turkish banking sector and regulations for the development of securitization market based on mortgage loan in Turkey will also be examined. (This course is given in Turkish)
E-GYM512 İmar Mevzuatı (Zoning Legislation) (3 credits) Planning and reconstruction data are valuable data for real estate development process. The most important effects on real estate importance are urbanization process. Because of that, learning of zoning law and understanding of meaning and dynamics of urbanization is not only necessary, it is must. But zoning law is diffusedly and splintery regulated in our country. And very often changes are made. Therefore teaching of firstly the zoning law, addressing the basic sources, essence of process of “planning”, “plan implementation” and “construction”
are the goal of the lecture. Correctly configuring knowledges of planning and reconstruction onto real estate knowledge are increased the correctness, improve the quality and reinforce the legitimacy of professional activities of real estate valuation and development experts. (This course is given in Turkish)
E-GYM513 İstatistiksel Analiz ve Karar Verme(Statistical Analysis and Decision Making) (3 credits) This course involves the analysis and application of econometric methods. The topics within the content are: simple regression analysis, multiple regression analysis, dummy variables, heteroscedasticity, time series analysis, serial correlation, panel data, IV estimation, simultaneous equation systems, limited dependent variable models, unit roots, cointegration. (This course is given in Turkish)
E-GYM517 Gayrimenkul Hukuku (Real Property Law) (3 credits) Experts who are dealing with real estate valuation and development firstly should know the essence and fundamental concepts of property law. Without learning, without interiorizing and without understanding of all these, real estate valuation and developments process cannot correctly be analysed. Due to this reason the purpose of the lecture is designed based on fourth book of Turkish Civil Code that is property law to teach fundamental topics and concepts of property law. After learning fundamental concepts, fundamental knowledge is integrated with cadastre and land registry law and condominium law. Thereafter perspectives are enlarged by examining detail of land registry regulation of that is the base of title deed index and is the basic study area of experts in practice. (This course is given in Turkish)
E-GYM521 Proje Geliştirme (Project Development) (3 credits) Immovable property or real estate is defined as the land including (plant, tree, building and parts thereof), quarry and the rights related to
in the fieldhave a great impact on the success of the sector. In this course, the process the sector has gone through and the reflections of the effects of the process on cities are examined. The project development process, the selection of the best and most efficient usageanalysis, feasibility, architectural design, designer selection, cost and budget phase, financing, construction, marketing/sales/rental, delivery and after sales support with details of the stages are discussed. (This course is given in Turkish)
E-GYM523 Gayrimenkul Değerleme Yöntemlerice Uygulamaları (Real Estate Appraisal Methods and Applications) (3 credits) Real estate (immovable property) is defined as the land which is a physical asset and the buildings constructed by people on this land. So, the real estate appraisal refers independent and free appreciation of the potential value of a real estate, a real estate project or rights and benefits belonging to a real estate at a certain date. Thus, the basic concepts of real estate, the appraisal process, approaches used in the appraisal, financing aspect, reporting process and standards are extremely important for all stakeholders in the real estate market. In this context, the aim of the related course is to inform the students regarding the basic concepts related to real estate appraisal, share of details related to the structure information and appraisal process, appraisal methods, and “Communiqué on International Appraisal Standards in the Capital Market” prepared by Capital Market Authority. (This course is given in Turkish)
E-GYM525 Taşınmaz Değerlemede ve Geliştirmede Mesleki Mevzuat (Occupational Legislation in Land Valuation and Development) (3 credits) There are many legal regulations beside property law and zoning regulation related with these basic topics. Things are not uniform for the topics of real estate valuation and developments. Knowing and being aware of existence of legal regulation for specific real estate properties and their specific fields of usages will increase the perspective and performance of experts who deal with that wide spread fields. Couse of Professional Legislation in Real Estate Valuation and Development firstly implements concept of “capital markets” and its base legislation that is the legislation of Capital Market Board, and then implements the dimensions of both specific and institutional fields of real estate valuation and developments. Thus knowledges of real estate and zoning law are integrated with the subject of legislation and legal basis, so the perspectives are sited on a holistic framework. (This course is given in Turkish)
ELECTIVES
E-GYM529 Çevreve Kent Sosyolojisi (Environmental and Urban Sociology) (3 credits) The purpose of the Urban and Environmental Sociology course is to examine the development journey of civilization related to the parts of habitats, and to focus on the effects of stunning urbanization in the last century on the changes in human, social, ecological balance and our daily lives. This course covers the phenomenon of immigration throughout history, environmental destruction, social stratification, local governments, mega-cities, industrial city, cultural city, etc. and the discussion of sustainable future cities. (This course is given in Turkish)
E-GYM531 Proje Değerleme ve Raporlama (Project Appraisal and Reporting) (3 credits)Real estate (immovable property) is defined as the land which is a physical asset and the buildings constructed by people on this land. So, the real estate appraisal process refers independent and free appreciation of the potential value of a real estate, a real estate project or rights and benefits belonging to a real estate at a certain date. Thus, the basic concepts of real estate, the appraisal process, approaches used in the appraisal, financing aspect, reporting process and standards are extremely important for all stakeholders
included in the appraisal report as well as analyzing the sample appraisal reports. (This course is given in Turkish)
E-GYM533 Gayrimenkul Tesis Yönetimi (Real Estate Facility Management) (3 credits) The objective of this course is to make possible required academic, technical and managerial capabilities for productive and comfortable operation of structures like being a necessary result of production relations of our developing and changing century’s communal life areas, apartment, sites, factories, hospitals and integrated production facilities. (This course is given in Turkish)
E-GYM535 Şirket Değerlemesi (Company Valuation) (3 credits) Today, appraisal has become an integral part of the financial management. In determining the company value many other factors along with the company's growth potential, risk profile and cash-generating capacity are considered. It plays a critical role in issue of shares or repurchase, a potential takeover, investment in a company or the decision-making process related to any kind of investment. On the other hand, increase in the efficiency of capital markets and diversification of products traded in those markets have accelerated the movement of stocks and other financial assets and this have increased the importance of appraisal concept. In company appraisal, not only past financial performance, but also future expectations are also taken into consideration. In this context, the purpose of the company appraisal course is to determine the best companies in the sectors where the future expectations are strong. (This course is given in Turkish)
E-GYM537 İnşaat Sözleşmeleri ve Uygulamaları (Construction Contracts and Applications) (3 credits)The aim of this course is to enable students to acquire theoretical and practical knowledge and skills about the construction practices in the construction sector and the preparation and management of construction contracts. (This course is given in Turkish)
E-GYM539 Kamulaştırma Teknikleri ve Kentsel Alan Düzenlemesi (Expropriation Techniques and Urban Area Design) (3 credits) In this course Land and Land Regulations and Expropriation topics are discussed in detail. These two “development plan application tools” are addressed in the light of both relevant legal sources and jurisprudence of “State Council and Supreme Court” in detail. (This course is given in Turkish)
E-GYM540 Gayrimenkul Satış ve Pazarlama (Real Estate Sales and Marketing) (3 credits)The aim of this course is to introduce modern marketing notion and techniques within the framework of real estate market dynamics. (This course is given in Turkish)
EMBA523 Finansal Yönetim (Financial Management) (3 credits) This course helps students to explain the basics of financial management. Long-term projects for the decision-making process methods after examination of the cost of capital will be discussed. Then, with the issuance of stock financing will be discussed. Then, after funding issues have been processed with the help of derivative markets, with the discussion of imbalances in the foreign exchange markets will continue. (This course is given in Turkish)