Course syllabus


ACE220 Real estate economics (7.5 hp)

Course is offered by the department of Architecture and Civil Engineering

The alumni Linkedin group can be found here

Contact details


Christian Koch, Professor, Dr. Construction Management


Senior Lecturer, Martin Öberg, Gothenburg University Business School (MÖ)

Professor, Christian Koch, ACE, Construction management, Chalmers (CK) -

Doctoral Student, Antoine Manes, ACE, Construction management, Chalmers (AM)

Consultant, Ph.D. Kim Jacobsen, K-Jacobsen A/S. (KJ)

Senior Lecturer, Ph.D. Martine Buser (MB)

Course coordinator, M.Sc.  Oliver Disney (OD) -

Course purpose

Not only is most of the built environment in Sweden consisting of existing buildings, these buildings also are valuated at enormous financial sums. Designing and building real estate as well as managing it is an important part of the overall building process and the economics of real estate set important frames for design and building. Thus, understanding the dynamics and mechanisms in real estate economics is an important competence for the critical and skilled design and construction project management scholar.

The purpose of this course is to develop understanding and knowledge about basic concepts and tools within real estate economics through critical and interdisciplinary perspectives.


TBA: to be announced, TBC: to be confirmed, O: obligatory

All seminars are from 09.00-11.45 (morning) and group activities from 13.15-17.00 (afternoon)

See syllabus and schedule

The Zoom sessions can be joined by clicking here

Course literature

The articles are for the most part available via Chalmers library service (otherwise in Canvas):

See syllabus and schedule

Course design

The course includes lectures, seminars, exercises, and group assignments. Guest lecturers provide insights in theoretical concepts, case-based project work include interviews or visits to real estate companies. The course is 100% online and sessions will occur through the Zoom app. 

Learning objectives and syllabus

Learning objectives:

The overall learning outcome is to possess a basic understanding of real estate financing, economics and facility management.

On the completion of this course participants will be able to:

  • Understand and apply theories, concepts and techniques on real estate finance. This competence includes
  • Ability to identify and select proper concepts, theories and approaches to handling development and financing processes, organisation and management challenges, such as the complexity in coordinating the resources involved.
  • Understand basic dynamics of the real estate market.
  • Ability to use a series of tools and concepts of real estate economics


Competences and skills include the ability to apply tools for calculation of valuation and profitability of real estate investments and to be able to scrutinize, valuate and critically reflects upon the academic systematic knowledge on real estate investments.

The course integrates theoretical approaches with practical cases. Key concepts are

  • Real estate finance
  • Real estate markets
  • Investments
  • Valuation
  • Profitability

Focus is on how you should organise and lead real estate financing processes

Study plan

Examination form

Examination according to learning outcome goals by two assignments:

Assignment 1, a group work, literature seminar 35%.

Assignment 2, a group report on a case study 50%.

Assignment 1 and 2 involves handing in a written paper and obligatory presentation day

Participation in obligatory course elements 15%

The seminars that are obligatory are indicated in the course schedule.

Course summary:

Date Details Due