Will be called "Principles of Property Investment and Valuation".
As verbatim from "Rules and Guidelines to Part I & II Estate Agent Examination (2nd Edition - 1 Jan, 2005)".
The main types of landed properties and interest existing therein. Characteristics of property and the property market, determinants of values, impact of economic, legal and geographical influences and value.
The factors that affect the supply and demand of landed properties. Definition of market value and other concepts of value. Price, Value and Cost. Factors affecting rental. Determinants of market rental.
Rate of return derived from property. Outgoings and the relationships between rental value and net income. Determination of outgoings from properties.
The methods of valuation (conceptual mainly, calculations only in relation to simple properties). Investment in property compared to other forms of investment. Yields and returns from properties.
Compound interest theory and the construction and use of Valuation Tables including that for incomes receivable in advance.