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| Application Deadline: | We have no specific application deadline, and an early application is recommended | ||
| Annual Tuition Fee: | ≈ € 19,336 - | ||
| Location: | London / United Kingdom / View location on map ▾ Hide location on map ▴ | ||
| Duration: | 12 months | Start Date: | September |
| Educational Form: |
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| Education Variants: |
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| Languages: | English | ||
Location of Cass Business School
Please note we expect MSc in Real Estate and the MSc in Real Estate Investment to close by the end of August. You are encouraged to submit your application for these courses as soon as possible.
The MSc in Real Estate Investment is aimed at students wishing to enter or advance their careers in the fields of real estate investment management, real estate finance and the securitised real estate markets. As such, it deals extensively with the growth in the securitised real estate markets of Real Estate Investment Trusts and Mortgage Backed Securities. It also examines the real estate derivatives market.
The programme combines the rigour of a mainstream finance programme with the direct application of financial theory and techniques in a real estate context. To apply for this programme you should have a relevant undergraduate degree or work experience, along with strong quantitative skills.
Career opportunities
Graduates from the Cass Real Estate Investment Masters are highly sought after and you will be well placed to take up positions in many areas within real estate. These include investment, research, finance and portfolio management.
Major real estate advisory firms visit the Business School and present to our students. Many of the large investment houses, management consultants and other businesses based within the City make similar presentations to students across the School.
MSc in Real Estate Investment Employability
Our Graduate Destination Survey of last year's MSc in Real Estate Investment cohort shows that 75% of graduates are now either in work (65%) or not job seeking as they are in further study, military service etc. (10%)*
Some examples of where graduates from the 2009/10 MSc in Real Estate Investment are working are:
- Benson Elliot Services Ltd - Structured Finance - Analyst
- RBS - Structured Real Estate - Graduate
- Vanguard Asset Management - Sales - Client Services Associate
- Cushman and Wakefield - Real Estate Investment - Analyst
- HSBC - Debt Capital Markets - Analyst
Contents
To satisfy the requirements of the degree programme students must complete:
- Eight core courses
- Three electives
- Business Research Project
Two Induction Weeks The MSc Real Estate Investment starts with two compulsory induction weeks, focused on:
- an introduction to careers in real estate and the opportunity to speak to representatives from over 75 companies during a number of different industry specific fairs.
- a refresher course of basic financial mathematics, statistics, computing and electronic databases
Five core modules (30 hours each)
Investment Markets
Students will comprehensively examine the broad investment markets. The module will place into context the role of real estate as an investment asset by examining alternative investment vehicles. The module will examine asset valuation and the principles of portfolio diversification across a wide variety of asset classes including; equities, fixed-income securities, derivatives and the foreign exchange markets.
Quantitative Techniques
This module introduces statistical and econometric techniques with a focus on applied real estate research. The module will introduce techniques and concepts within the context of investment and portfolio research. The techniques learnt in this module will be applied and expanded on in other modules.
Real Estate Economics
This module introduces students to the principles of economics, and the primary ways in which those principles are useful in the analysis of real estate performance and real estate markets. Particular attention will be paid to the impacts of changes in the economy on rental values, development activity, real estate returns and its returns relative to other assets.
Real Estate Investment & Financial Analysis
This module introduces students to the primary issues in the evaluation of real estate investments. The course considers the primary valuation techniques, the financial modelling of investment appraisal of properties and also provides an introduction into the importance of financing structure. Students will examine alternative sources of capital and the impact on investment appraisals and performance.
Four core modules (30 hours each)
Portfolio Risk Management
This module covers key applied issues in relation to portfolio theory in particular the application of these models in practice. The module will also cover fund management issues such as regional, sector & economic diversification, portfolio construction and portfolio performance evaluation.
Real Estate Capital Markets
This module will provide comprehensive coverage of the real estate capital markets. The module will not only provide details on the structure of these securities and markets but also examine how they can be used in the context of issues such as real estate portfolio construction and asset allocation, hedging and financing. The module will also highlight the different characteristics of many of these securities to those commonly traded in the investment markets. The course will primarily cover Real Estate Investment Trusts, Private Funds and Real Estate Derivatives.
Real Estate Modelling and Market Dynamics
This is an applied econometric modelling course. It provides students with comprehensive coverage of the application of alternative modelling techniques. The module examines modelling issues across the range of real estate related assets and securities. In the context of the private real estate market the course illustrates the challenges in modelling markets due to factors such as data limitations. The module contains a mixture of theoretical constructs and the application of these in an applied econometric setting.
Real Estate Debt Markets
This module enables students to develop an appreciation of the various techniques available in real estate finance. The course will cover different sources and structures of debt finance, Commercial Mortgage Backed Securities, interest rate hedging and interest rate derivatives.
Three electives and Business Research project
Electives
You may choose from a wide variety of electives. For example:
- European Real Estate Markets
- Financial Regulation
- Housing Economics
- Panel and Cross-sectional Modelling
- Real Estate Forecasting
- Securitisation and Structuring of Vehicles
You are normally required to take an English Proficiency Test if you come from a non-English speaking country.
Most European Universities recognise the IELTS test.
More informationRequirements
English Requirements
Every year we welcome students from around 100 different nations to study with us here at Cass. It is essential that all students have an excellent command of English in order to participate fully in the collaborative learning process. We therefore require all students who have not previously studied in English to sit an IELTS or TOEFL exam. If you are not a native English speaker but have studied or are studying in English at degree level, please submit a copy of your most recent English language test along with your application.
IELTS
The required IELTS level is an average of 7.0 with a minimum of 6.5 in writing.
TOEFL
For TOEFL we require 107 (Internet Based Test)
Our TOEFL code is 7650, department code 02
We do not offer a pre-sessional English class as an alternative to achieving these scores. Any pre-sessional course should be viewed as a way of settling into living and studying in the UK and not as a way of topping up an IELTS or TOEFL score.
Other qualifications
To be accepted for these courses you will need a good Bachelors degree, usually a UK 2.1 or above or the equivalent from an overseas institution. Some level of previous study in finance or quantitative techniques is preferred for applications to the MSc in Real Estate Investment.
Applicants will need to submit two references, one of which MUST be an academic reference. No work experience is required, but please provide details of relevant experience that might enhance your profile.
Additional Requirements
| Minimal degree required: | Bachelor's degree |
| Minimal amount of work experience | Not specified |
Language Proficiency
| IELTS Band: | 7.0 |
| Cambridge English: Advanced (CAE): | Grade B (Score: 75) |
| TOEFL Paper-based: | 627 |
| TOEFL Computer-based: | 263 |
| TOEFL Internet-based: | 107 |
Accreditation
The Royal Institution of Chartered Surveyors (RICS) accredits the course, enabling graduates to enter the RICS Assessment of Professional Competence (APC).
The Investment Property Forum in the UK recognises the programme as a gateway to the real estate investment sector and as a clear entry route for membership of the Forum for all candidates aged over 30 with five years appropriate experience.
Contact
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