After successful completion of the course, students are able to demonstrate basic knowledge of real estate economics (part 1 of the course) and to apply and critically reflect on fiscal impact analysis (part 2 of the course).
Part 1:
The following contents are taught in the form of lecture units:
basic terms of real estate economics, special characteristics of real estate from an economic perspective, real estate valuation methods, reasons for and forms of state intervention in the real estate market, empirical knowledge of essential state interventions in the housing and land market in Austria, the commercial real estate market in Austria, as well as the role of the real estate market in the national economy.
Part 2:
In small groups, two different development concepts worked out in P1 will be compared according to defined criteria and the most suitable project will be identified and presented in a final presentation.
- Understanding the framework conditions for the economic assessment of planning measures
- Knowledge of the methodological foundations of fiscal impact analysis in the context of municipal development planning, zoning and development planning
- Ability to estimate the community fiscal effects of a planned development of an area in a community
- Critical examination of an urban development or spatial planning design from a financial point of view