An Evaluation of Students’ Perspectives on the Teaching and Learning of Property Investment Valuation in a Nigerian University

Abstract

This paper evaluates students’ perspectives on the teaching and learning of property investment valuation through an empirical study of 84 graduating real estate students in a Nigerian university selected through purposive sampling technique. It was found that the students’ overall level of understanding of the basic topics in property investment valuation was highest in the definition of property investments and lowest in hedonic modelling of property investment values. Analysis of Variance (ANOVA) in the level of understanding of the basic topics in property investment valuation between the male and female respondents produced an F-ratio of 0.53 at p-value greater than 0.05. The respondents strongly agreed that practical exercises in the field will facilitate understanding of property investment valuation. They also agreed that lecturers with practical experience teach property investment valuation better and that property investment valuation should be taught together with valuation of financial assets. The paper concludes that there is need for practical-based property investment valuation curriculum at the university level in Nigeria in which property investment valuation is taught within the context of comparative investment appraisal.