The Bartlett Real Estate Institute

The Bartlett Real Estate Institute is a global institute that is rethinking the traditional view of real estate through programmes, short courses, and research opportunities.

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Introduction

The Bartlett Real Estate Institute (BREI) is a global institute rethinking the traditional view of real estate as part of The Bartlett School of Sustainable Construction.

Many forms of built assets are defined as real estate, which currently accounts for around 60% of the world’s tangible wealth. But to recognise real estate solely in terms of its financial value – as a commodity in a tradeable market – is only part of the story.

BREI takes a new approach to real estate and recognises that it is the physical manifestation of many different needs, from the highly tangible and practical to the esoteric and intangible. Real estate reflects our creativity and imagination and impacts our societies, economies and the environment.  

BREI brings together academics and practitioners with different backgrounds who are passionate about real estate and work on projects addressing the most important questions in real estate. The institute is directed by Dr Nikodem Szumilo, and members of the leadership team lead its projects.

A professional advisory board supports their work. Many institute members are also actively involved in teaching real estate at UCL. In addition to the MSc in Real Estate Economics and Investment Analysis, we are involved in the MSc Healthcare Facilities and Design and Management for Sustainable Education MSc.

Study with us

Real estate is an important asset class. It is the most popular alternative to stocks and bonds and has an essential place in the investment portfolios of most investors seeking diversification.

In most countries, the property market has a higher market capitalisation than the stock market and comprises over 60% of the average household’s wealth. Therefore, the real estate market's economics and financial economics are rapidly growing fields.

At the same time, while the availability of data has been hindering the progress of research in this area for decades, recent developments in data collection and analysis offer opportunities recognised by academics and practitioners alike. Starting in September, this programme offers an in-depth understanding of how this market works and how its constant changes can be analysed using data.  

The REEIA MSc has three aims: 

  • Develop an in-depth understanding of real estate markets 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.  

The course is based at the brand-new UCL East campus.  

Shape the future of the built environment

Watch the video below and explore our new Real Estate Economics and Investment Analysis MSc. 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.

Watch Introducing the MSc in Real Estate Economics and Investment Analysis on YouTube.

Register your interest

Shape the future of the built environment through our Real Estate Economics and Investment Analysis MSc.

Find out more

Stay in touch

Register your interest today to receive updates from our faculty along with invitations to open days, taster sessions and more.

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People

Research

BREI brings together academics and practitioners with different backgrounds who are passionate about real estate and work on projects addressing the most important questions in real estate. 

Members and their projects 

Built Environment education in Ukraine 

Nikodem coordinates BREI’s involvement in Kyiv School of Economics’ (leading Business School in Ukraine) effort to start the first modern university programme on Urban Development. The project has been requested by the Ukrainian government and its objective is to support the post-war reconstruction effort with cutting edge academic knowledge. The project is supported by leading built environment experts from the best universities around the world and BREI is proud to provide expertise in real estate.  

Wartime regional GDP tracker for Ukraine  

At the beginning of the full-scale invasion on Ukraine in February 2022, Nikodem volunteered his research time to the National Bank of Ukraine (NBU). He leads an international team of researchers who created a tracker of regional GDP based on data from Twitter, Google and satellite pictures. The work is currently being used not only but NBU but also the International Monetary Fund (IMF) and has been covered by The Economist. It is led by BREI researchers and supported by the Geneva Graduate Institute.  

OpRE conference 

Nikodem coordinates BREI’s involvement in the OpRE Festival (organised by Hotel Analyst). This event breaks down the silos between different bits of operational real estate, enabling the pooling of ideas and the creation of co-investment opportunities.  

BREI data centre  

Nikodem coordinates a data centre that houses research data available exclusively to BREI members. The centre facilitates collaborations between academics from different fields across UCL departments. 

MSc Real Estate Economics and Investment Analysis  

Nikodem is the Director of UCL’s only MSc programme on the economics and finance of real estate. Most members of BREI’s leadership team teach on the programme and its students are actively engaged in the Institute’s activities. 

Digital Disruption 

  • Virtual Estate and Digital transformation in Real Estate Global Symposium  
  • Creating entrepreneurial MSc on RE digital transformation  
  • PropTech Accelerator/Laboratory  
  • UCL Campus Model  
  • Unissu Metaverse Webinar  
  • Oxford FoRE  
  • RED Foundation Data Research and Academia Steering Group  

Beyond Placemaking  

  • Hypermixity project and report for Native Land with ING  
  • CityLab (Bloomberg and Aspen Institute)  
  • City, Civility and Capitalism (Axon Johnsonn Foundation)  
  • Making Place Project with IPUT and ARUP  

Housing Affordability  

  • Supurbia & Street votes  
  • BSSC Sustainable Housing Group  
  • UCL Housing Forum  
  • Automatic Affordability Tenure  
  • Housing Issues series  
  • Gowling WLG How we Live Well Project  
  • High Rise Residential Development Evidence Review Advisory Group  

Market microstructure of commercial real estate, ongoing research theme 

  • Study on the Shared Ownership Mortgage Market, currently working on Scoping study for an evaluation of the Affordable Homes Programme 2021-2026, forthcoming. 
  • Led a consortium on the scoping study for the evaluation of the Affordable Homes Programme (AHP) 2021-2026 for the Department for Levelling Up, Housing and Communities (DLUHC). (November 2021-May 2022) 
  • Double or Quits: The influence of longer-term grant funding on affordable housing supply, September 2020.  
  • Leading on a report commissioned by the National Housing Federation, CASE Housing Associations, and Shelter assessing how long-term funding through the Affordable Homes Programme can affect housing supply. 
  • Read here

Recent publications and work in progress include:

  • Do short-term rental platforms affect housing markets? Evidence from Airbnb in Barcelona. with Miquel-Àngel García-López, Jordi Jofre-Monseny, and Mariona Segú. Journal of Urban Economics, vol. 119, September 2020. 
  • Effectiveness and supply effects of high-coverage rent control policies with Jordi Jofre-Monseny, and Mariona Segú. Regional Science and Urban Economics, 103916, 2023. 
  • La crisis de asequibilidad en la vivienda de alquiler. Papers: Regió Metropolitana de Barcelona, (66), 11-24. 2024 
  • Floods and urban density with Pierre Magontier. R&R 
  • "Mom, Dad: I'm staying." Young adults, housing, and labor markets 
  • “The impact of interest rates on rents“ with Josh Ryan-Collins and the DLUHC. Work in progress 2025. 
  • “Spillover effects on rent control policies“ with Jordi Jofre-Monseny and Mariona Segú. Work in progress 2023. 
  • “The long-run effects of housing benefits on children, households and neighbourhoods” with Cristina Bratu, Sander Ramboer and Arnaldur Stefansson. Work in Progress 2025. 

  • Herding behaviour, price bubbles, and debt in US housing markets 
  • Geography, risk, and strategy in commercial property development 
  • Liquidity and pricing in UK institutional property investment 
  • The geography of empty homes, and policy responses

PhD Researchers

BREI is open to applications from prospective PhD students interested in researching real estate topics. We support visiting scholars and research fellows who work with us on a short- or long-term basis. 

If you are interested in applying or future collaborations, email Dr Nikodem Szumilo or Dr Rodrigo Martinez.

Advisory Board

The Bartlett Real Estate Institute Advisory Board offers academic engagement with private, public and non-governmental organisations to deliver impactful, insightful and expert work. 

  • Michael Creamer, Advisory Board Chair
  • José Pellicer 
  • Thomas Wiegelmann 
  • Chris Urwin 
  • Brad Altberger 
  • Victoria Ormond, CFA 

Get in touch

Nikodem Szumilo

Dr Nikodem Szumilo

Bartlett Real Estate Institute Director

Click to email. n.szumilo@ucl.ac.uk