This course is designed to equip students with an understanding of the economics of the real estate market and give them skills to use data to make informed investment decisions.
- A unique new master's programme, combining theoretical insights with practical applications
- Teaching is pioneering a focus on theory and data-driven decision making
- The programme teaches collecting, processing and interpreting data in the property market
- Classes are based on real life problems being addressed using latest academic thinking
On this page
- Course content
- Structure and assessment
- Study modes, entry requirements and fees and funding
- Programme staff
Real estate it is an important asset class. It is the most popular alternative to stocks and bonds and has an important place in investment portfolios of most investors seeking diversification. In fact, in most countries the property market has a higher market capitalization than the stock market and comprises over 60% of the average household’s wealth. Therefore, both economics and financial economics of the real estate market are rapidly growing fields. At the same time, while availability of data has been hindering progress of research in this area for decades, recent developments in data collection and analysis offer opportunities recognized by academics and practitioners alike. This programme, starting September 2021, offers an in depth understanding of how this market works and how its constant changes can be analysed using data.
MSc REEIA has three aims:
- Develop an in-depth understanding of how real estate markets work based on the latest academic research.
- Provide cutting edge analytical frameworks for data driven investment decision making.
- Apply modern methods to collect and interpret property market data.
At the moment the course will be based at facilities close to the Bloomsbury campus but will move to the brand-new UCL East campus as soon as it is completed.
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MSc in Real Estate Economics and Investment Analysis will run in two stages. First, it will give the students a basic understanding of economic/financial concepts in the context of real estate and train them in using transferable technical skills such as elementary programming and basic research methods. The second part of the course will build on this and develop an advanced understanding of how these skills are applied in practise, what are their limitations and how they can be adjusted to achieve different goals.
The first part of the course is based around the following modules:
- Real Estate and Urban economics – basic theories of economics applied to location decisions of households and firms.
- Financial economics of Real Estate – basic principles of financial economics applied to real asset pricing and mortgage finance.
- Real Estate data analysis – current research issues and challenges in real estate practice and the tools to solve them (econometrics and coding skills).
The second part comprises of:
- Analytical property valuation – different approaches to value an asset in different sectors of the property market.
- Property investment analysis – the concept of risk and return estimation in real estate, portfolio optimization and forecasting methods.
- Real Estate asset management – different strategies to increase the economic value of an asset by increasing its operational efficiency.
In addition, the programme could be able to take advantage of the existing offering of optional modules at the Bartlett School. The most relevant modules include ‘Infrastructure as an asset class’ and ‘Economics of speculative development projects’. The list of optional modules unique to the School of Construction and Project Management offers a clear opportunity to focus on built assets. This is a unique offering on the market as it allows understanding the supply side of the real estate market much better than other programmes and gives a real estate programme housed at the Bartlett School of Sustainable Construction.
The programme ends with a dissertation. It is an academically rigorous piece of research and students can choose any topic they want as long as it is relevant to Real Estate and can be supervised by a member of the Bartlett School of Sustainable Construction staff.
The course structure is focused on learning through a mix of lectures, seminars, workshops and project work. Teaching is delivered as a mix of traditional lecture-based teaching with scenario- and project-based modules.
Digital learning platforms are used throughout the course for learning and assessment.
The principal modes of assessment of these skills are analytical essays, coursework, examination and the MSc dissertation undertaken as a piece of independent research.
Teaching is designed to support a mix of theoretical knowledge, practical skills and experiential learning. In particular, the programme adopts a problem-based approach to teaching technical skills and focuses on achieving and interpreting outcomes rather than understanding the details of processes.
There is no single module dedicated to technical skills. Instead, these skills are taught as solutions to problems posed by theory or practice.
Duration: The course can be studied full-time over one year or part-time over two to five years.
For full time students, teaching consists of two days per week over ten weeks over two terms.
Part time/flexible students will typically attend one day per week.
Entry requirements: Read the full entry requirements for this course on the UCL Graduate Prospectus.
The MSc core teaching staff are members of the Bartlett School of Sustainable Construction exploring real estate economics and finance. These staff are supplemented by industry experts. This ensures the connection of teaching with both current research and best industry practice.
Dr Nikodem Szumilo
Teaching and learning administrator
The course is purposefully open-ended in the sense that it offers skills applicable in multiple industries and sectors. While the majority of applicants will target jobs in the financial industry in London, their actual job destinations will be as varied as their backgrounds. One unifying theme is that their jobs will be relying on analytical and technical skills as well as an understanding of the recent developments in real estate research.
Additionally, through events aimed at industry and alumni organised by the Bartlett School of Sustainable Construction, you will have the opportunity to meet like-minded professionals in the field. Each year the School also hosts a series of careers events for students - including CV and interview skills sessions, a dedicated Careers Fair, site visits and an alumni panel event. UCL Careers also offers a regular programme of careers fairs and practical sessions on careers advice.
- Learn more about careers support available at the School
- Find out more about our School alumni and their career paths