This course is designed for any graduate wishing to enhance their real estate skills, for example, valuers, property developers and property managers.
Summary
Award: MSc Real Estate (MScRealEst)
Duration: 2½ years
Time commitment: 15 hours of study a week over 2½ years and recommended attendance at residential school for up to 6 days each year
Apply by: 31 July 2009
Course starts: 1 September 2009
Accreditation
This course is accredited by the RICS
Entry requirements
You should have a good first degree or a professional qualification of equivalent standing.
The suitability of each candidate’s qualifications will be decided at the discretion of the Course Director. No exemptions are given for prior learning. Academic entry requirements are set by the University of Reading.
Course modules
You can take the course on a modular (or subject-by-subject) basis, provided that:
• Subjects are taken only in the semester to which they are allocated
• Economics module is taken before Real Estate Economics module
• Research Methods module is taken before the Dissertation module
Course outline
Year 1
Semester 1
Economics – market mechanisms; consumer behaviour; output, cost and competition; market efficiency; macroeconomics; international trade; money and inflation.
Valuation – nature of real estate; valuation and appraisal bases; purposes and methods; investment, asset and loan valuation; standards of practice.
Semester 2
Development Appraisal and Funding – development process; constraints on development; residual and DCF methods; risk and sensitivity analysis; categories of development funding.
Real Estate Economics – user and investor markets; development and redevelopment; modelling of commercial markets; institutional analysis.
Year 2
Semester 3
Finance and Investment – investment risk and return; performance measurement; asset pricing; portfolio theory; financing property transactions.
Research Methods – nature of research; quantitative and qualitative methods; critical literature reviews; applying research methodology to real estate problems.
Semester 4 module options (choose two)
Corporate Real Estate – real estate from corporate occupier’s perspective; real estate as strategic corporate resource; planning; tenant perspective and issues; management methods; occupiers’ performance measurement; future challenges.
Marketing – marketing theory; product analysis; buyer behaviour; marketing property and property services; property agency.
Portfolio Analysis – comparison of risk–return profiles of real estate and financial investment assets; measuring investment performance; principles of portfolio diversification; case for active portfolio management.
Year 3
Semester 5
Dissertation
Face-to-Face teaching
Two sessions of two to three days are held in January and July each year in Reading. If student numbers permit, venues may also be arranged in South East Asia. Overnight accommodation is not provided as part of the course.
Asessment
Assessment consists of assignments and examinations in Semesters 1–4, and the dissertation in Semester 5.
Assignments
In Semesters 1–4 you will complete and submit two assignments per module for assessment according to the timetable of the course.
Exams
Exams are normally held in February and August and comprise:
• Two 3-hour written papers per semester in Semesters 1–3
• Two 2½-hour written papers in Semester 4 Dissertation
In Semester 5 you will submit a dissertation of 12,000–15,000 words. This will take the form of
an in-depth study of a course-related subject, undertaken with the guidance of a course tutor.
Admissions and enquiries
Email: courses@cem.ac.uk
Tel: 0800 019 9697 (freephone UK)
+44 (0) 118 921 4696 (international)
Fax: +44 (0) 118 921 4620