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This PhD-level course explores advanced topics at the intersection of real estate valuation and sustainability. The course provides a research-oriented examination of theoretical frameworks, empirical methods, and current challenges in the valuation of real estate assets, with a particular focus on sustainability-related factors such as energy efficiency, climate risk, regulatory frameworks, and market adaptation to environmental considerations.

Participants will engage with cutting-edge literature and develop critical perspectives on valuation and how sustainability impacts asset pricing, investment decision-making, and risk assessment in real estate markets. The course emphasizes the role of data and methodological rigor, including approaches from econometrics, spatial analysis, and machine learning.

A key component of the course involves the development and presentation of a working paper or project proposal aligned with the course themes. Peer feedback and academic discussion will support further development of individual research projects.

Knowledge

Upon successful completion of the course, the candidate will:

• Have advanced knowledge of theoretical frameworks and empirical research in real estate valuation.
• Understand how sustainability considerations (e.g., energy efficiency, climate risk, regulations) influence valuation practices and real estate markets.
• Be familiar with current academic debates and emerging research areas at the intersection of real estate and sustainability.

Skills

Upon successful completion of the course, the candidate will:

• Be able to design and conduct independent research using appropriate empirical methods relevant to real estate and sustainability.
• Demonstrate the ability to critically evaluate academic literature and apply advanced quantitative techniques to real estate valuation problems.
• Be capable of writing a research paper or project proposal in line with academic standards and grounded in the course themes.

General competence

Upon successful completion of the course, the candidate will:

• Be able to participate actively in academic discourse by presenting their own research and providing constructive feedback on the work of peers.
• Demonstrate academic writing skills and the ability to communicate complex research ideas clearly and effectively.
• Contribute to the broader research community through collaboration, critical reflection, and scholarly engagement.

The course will consist of a combination of lectures, academic discussions, and practical exercises. Candidates will receive feedback on both their written work and their presentations. Active engagement is expected throughout the course.

Lectures will be given by Prof. Dr. Dirk Brounen, Professor of Housing & Household Finance at Maastricht University, and Prof. Dr. Roland Füss, Professor at the University of St. Gallen, specializing in Real Estate Economics and Real Estate Finance.