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Masters in Real Estate and Planning

Masters in Real Estate Investment and Finance (Flexible)

At a glance

  • Develop your career prospects in the real estate finance industry
  • Start the programme from either September or February
  • Delivered on a part-time block release basis
  • Fully accredited by the Royal Institution of Chartered Surveyors (RICS)
  • Tailor the degree according to your interests via the range of modules
Level
Masters
Subject area(s)
Real Estate & Planning
Award
MSc
Duration
24 - 72 months depending on route taken
Attendance
Flexible
Programme Director
Chen
Dr Chen Zheng

Overview

This Masters programme allows you to relate your practical knowledge to academic theory. It can develop your career prospects by giving you the capability to undertake independent real estate investment analysis. It is accredited by the Royal Institution of Chartered Surveyors. 

The core modules of this flexible programme will develop your knowledge in areas such as corporate finance and investment appraisal. Also, analytical methods, economics and financial institutions. You can tailor the degree to your individual requirements by choosing from a range of options. You will also develop your report writing, oral presentation and research skills that are applicable to a range of future career paths. 

This programme is ideal if you want to continue in employment but also want to expand your academic understanding. The flexibility of this degree allows you to spread your studying over a number of years depending on your work commitments.

If you have completed the IPF - Investment Education Programme to Diploma level, you are eligible to continue to this programme. You can use the IPF entry route which will give you 100 credits towards your degree.

Timetables and FAQs

Real Estate & Planning

Our School is the largest in the UK for teaching and research in real estate and planning. Established in 1968 at the University of Reading, we are the only major UK real estate and planning centre to be located within a business school. Being part of the Henley Business School reflects our close and longstanding collaborative relationship with industry.

We enjoy a worldwide reputation for excellence in both teaching and research and we are consistently highly ranked in all major league tables. We undertake internationally recognised, leading edge research into real estate, planning and land. We offer a comprehensive range of courses, all of which are accredited by the  Royal Institution of Chartered Surveyors (RICS).

Our programmes are held in high regard by leading employers. Many of whom come to us each year to recruit our graduates. We are proud of our outstanding employment record. More than 95% of our students enter graduate-level jobs within 6-months of leaving us.

Compulsory modules

Compulsory modules Credits

Aims

  • Understand how financial issues influence decisions involving real estate within the firm.
  • Analyse the capital structure of a firm and its weighted average cost of capital.
  • Understand the problems that have to be overcome if real estate is to be treated on the same basis as other assets that are managed by companies.
  • Understand concepts of market efficiency as applied to property and the different approaches that can be taken to incorporate market perspectives into real estate management and decision making.
  • Describe the contribution of options, both real and financial, to management decision-making techniques.
  • Critically discuss the choices of target return required for real estate investments.
  • Understand the forms of financing available to real estate companies and relative costs.
20 [10 ECTS credits]

Aims:
To enable students to understand the financial, technical and market context of the appraisal of real estate investments. Students will be introduced to different concepts of value and how these relate to decision making in the property investment market. They will apply basic financial and cash flow models to the appraisal of real estate investments, identifying the appropriate approaches for estimating Market Value and Investment Value as defined by International Valuation Standards. The information content of appraisals will be also be considered, including inputs such as rental values, capitalisations rates, rental growth rates and exit yields.

20 [10 ECTS credits]

Aims:
This module aims to introduce students to concepts of investment strategy, portfolio selection and performance measurement, and to develop and apply these concepts in the context of real estate investment markets. Upon completion of the module, students should be able to understand key theoretical concepts in investment strategy, undertake basic modelling for portfolio decision making, critically appraise published work in the real estate investment field, and apply this knowledge to the analysis of real estate portfolio investment problems.

20 [10 ECTS credits]

Summary module description:
This module introduces students to the primary real estate securities markets. The module will extensively discuss a variety of issues with respect to Real Estate Investment Trusts and Property Companies. It will also examine the debt capital markets. The module will examine how the different vehicles are structured and how they can contribute to a broad real estate portfolio. In particular it will cover extensively those issues that differentiate real estate securities from both the private real estate market and from similar mainstream assets

20 [10 ECTS credits]

Elective modules

Five optional modules from a range that may include:

Optional modules Credits

Aims:
The module aims to provide the student with a comprehensive introduction to key issues in and approaches to the analysis of international commercial real estate markets and in particular to examine the functioning and principal characteristics of commercial real estate markets and the real estate sector, in both established and emerging markets.

20 [10 ECTS credits]

Summary module description:

The module has three overarching aims:

  1. To develop students’ understanding of the practicalities of some of the development process i.e. the activities, agencies, events, relationships, skills and tasks involved.
  2. To develop students’ capacity to critically analyse real estate development as a social and political process.
  3. To develop students’ skills in the financial appraisal of development opportunities.
20 [10 ECTS credits]

Aims:
The module aims to build a solid foundation in the economics of property to provide an insight into the application of economic principles and models to property and land use.

20 [10 ECTS credits]

Summary module description:

The module will present and analyse several sources of funding and their pricing. The process of raising equity for private real estate investment will be introduced and examined. As far as debt funding is concerned, alongside traditional methods (e.g. private lending and mortgages), the module will review structured products and hybrid forms of financing. Particular emphasis will be given to the implications of different funding structures on returns that are achieved or are achievable by equity investors.

20 [10 ECTS credits]

Summary module description:
This module aims to provide students with a knowledge and understanding of the legal framework for freehold and leasehold ownership and with a sound grasp of how the rules governing the use, enjoyment and transfer of leasehold property operate in a practical and commercial context.

20 [10 ECTS credits]

Summary module description:

Students will understand the different roles for which valuations are needed (financial statements, bank lending security, performance measurement, sale and acquisition) including the advantages and disadvantages of various applications of techniques for each role and be able to apply these different techniques within the market context of the UK.


20 [10 ECTS credits]

Summary module description:

The module aims to provide students with the tools to assess housing problems and policies. The module will use economic theory and empirical tools to study housing markets in a dynamic context, with emphasis placed on demand-side and supply-side drivers. The role of finance in the housing market will be explored, as will the impact of regulation. The roles of market search, estate agents, developers and financial institutions will be considered from an economic perspective and the links between the housing market, the macro-economy and business cycles will be investigated. The merits and demerits of the various methodologies to derive house price indices will be analysed. Empirical analysis will be undertaken in appropriate sections.

20 [10 ECTS credits]

Summary module description:

The module aims to provide the student with an understanding of the role, responsibilities and skills required of the CRE asset manager and a critical appreciation of the diversity and development of their functions.

20 [10 ECTS credits]

This module permits a student to conduct a substantial research study on a relevant topic in either real estate or real estate investment and finance that is selected by the student in consultation with the module convenor and a specific supervisor.

The dissertation module provides a vehicle for an in-depth understanding of a chosen area of real estate or real estate investment and finance. Depending on the student’s interest, this requires students to select a relevant topic or issue in their programme area for further research and analysis. They will be specifically required to display academic rigour in carrying out an agreed research programme, in presenting findings, and in producing a high quality, fully referenced dissertation that is supported by appropriate statistical, qualitative and/or illustrative data.

Academic authors
Chen
Dr Chen Zheng
40 [20 ECTS credits]

The module or course content descriptions set out on this page are correct for those being taught in the current academic year. Modules or course content marked as optional are indicative and may be subject to change.

Similar to corporate training methods, our flexible courses are based around relatively short periods of intensive study which are then reinforced by your experience in practice and web-based learning materials. You will attend the University for short blocks of study when there are opportunities to experience a range of learning methods. Each module runs for either 4 or 5 days and is held from Monday to Thursday or Monday to Friday.

You are encouraged to contribute your own knowledge and experience in order to extend the learning opportunities. The flexibility of the courses means that there are no stages or parts to the degree. You work towards the Masters qualification by fulfilling requirements for 180 credits. There is also the possibility of gaining a Postgraduate Certificate (60 credits) or Postgraduate Diploma (120 credits). It is also possible to take individual modules as part of a Continuing Professional Development programme.

Our courses are designed and delivered by internationally-renowned experts, with a wealth of academic and professional experience. All of our courses are regularly updated to maintain their relevance in a rapidly changing industry.

You must be in relevant employment in order to undertake the programme. Your career prospects will be enhanced by the skills and knowledge gained on each of the modules. You will also benefit from the networking opportunities with fellow real estate professionals in the various modules.

The School of Real Estate & Planning has a worldwide reputation and a long history of providing postgraduate education in real estate. All our postgraduate programmes open up many options for employment in the real estate industry around the world.

Our alumni association, The Reading Real Estate Foundation, organise career development and recruitment events for real estate students throughout the year. These include an evening lectures series with key industry speakers, an annual Careers Fair and our highly successful Mentoring Programme which pairs students with professionals in the real estate industry.

We have a professional Careers Development Advisor, Jane Batchelor, who helps our students with every aspect of the career development process, including identifying work placement, internships and permanent career opportunities.

On graduation our students are employed by the largest and most prestigious firms including:

Real Estate Service Firms:

CBRE, Cluttons, Cushman & Wakefield, Drivers Jonas Deloitte, DTZ, Jones Lang LaSalle, KingSturge, Knight Frank and Savills

Investment Banks:

Barclays Capital, BNP Paribas, Deutsche Bank, Goldman Sachs, JP Morgan, Merrill Lynch and Morgan Stanley

Institutional Investors and Investment Funds:

Aviva, Invesco, Legal & General

Consultancy Firms:

Accenture, Ernst & Young, PriceWaterhouseCoopers and Property Portfolio Research

Investment and Development Companies:

British Land, Grosvenor, Hines, Land Securities and SEGRO

Royal Institution of Chartered Surveyors (RICS)

Royal Institution of Chartered Surveyors (RICS)

The programme is accredited within the University of Reading – Royal Institution of Chartered Surveyors (RICS) partnership arrangement.

Our students and alumni are always keen to share their Henley experience. Whether you are a prospective applicant or already applied to a Masters programme at Henley Business School. You can ask questions to a current student by clicking the “Chat to our students” button below.

When contacting one of our students, please introduce yourself and the Masters programme you have applied for.

Speak to a current student

Contact us

If you have any questions, please contact us by email at postgraduate@henley.ac.uk or by phone on +44 (0)118 378 7593.

An image of Mathy Vandhana Sannasi

I have had a very eventful career, being a dentist turned technology enthusiast. There could not have been a better validator to my passion than my Masters and my professors. The entire experience, I feel, has done complete justice!

An image of Antonia Ajisebutu

One of my goals is to take my family business to the next stage by diversifying the business, entering new markets and taking risks. That’s one of the key things that I’ve learnt during my Masters.

An image of Jamie Parkes

I love the world of property because it impacts everyone’s daily life, from where you live, to where you work, shop, exercise and socialise. A personal highlight of the course is meeting and networking with other young professionals.

Jamie Parkes Masters in Real Estate
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