Real Estate Investment and Finance, M.Sc.

  • Application Deadline
  • 24 months
  • Tuition Fee
    15000 EUR/year
    Tuition fee
  • English (take IELTS)
University rank #190 (WUR) ,
The Masters programme in Real Estate Investment and Finance is a two-year (120 ECTS) programme leading to a Master of Science (Tech) degree. The programme courses are offered by Aalto University Department of Real Estate, Planning and Geoinformatics.


Real estate investments represent a large share of the wealth universe as well as of the portfolios of institutional investors, being thus an important field of specialisation in finance. Due to the special characteristics of real estate investments, operating in the real estate business requires knowledge of the functions and processes on the markets. This is what the Real Estate Investment and Finance programme at Aalto University is about.

The programme offers a holistic understanding of the operations in real estate markets and investments. After the programme, you are able to perform investment analyses of individual real estate investments and portfolios, and conduct market analysis. In addition, you gain knowledge on real estate management, development and the relevant legislation related to real estate. The programme combines theoretical knowledge with extensive hands-on work in assignments and case studies.

The programme provides a Masters degree of international standard and quality that gives the students the required knowledge to work in the fields of real estate and financial intermediation.The programme prepares students to professional positions in real estate, such as real estate analyst, commercial advisor, real estate manager and researcher.

Students will study:

  • Analysis of real estate investments and portfolios, both in theory and practise
  • Theories and their use in explaining the dynamics of real estate markets
  • Operations and roles of different actors, such as real estate investor, developer and agent.

Programme Structure

Courses Included:

  • Real Estate in Theory and Practice
  • Introduction to Real Estate Investments
  • Commercial Property Market and Valuation
  • Urban Economics for Real Estate
  • Real Estate Investment Analysis
  • Real Estate Development
  • Real Estate Finance I
  • Corporate Real Estate Management
  • Theories in Real Estate Economics
  • Game in Urban Planning and Development
  • Analysis of Real Estate Assets and Vehicles
For more information, please visit programme website.

Detailed Programme Facts

  • Programme intensity Full-time
    • Full-time duration 24 months
  • Credits
    120 ECTS
  • Languages
    • English
  • Delivery mode
    On Campus

English Language Requirements

You only need to take one of these language tests:

  • Minimum required score:


    The IELTS – or the International English Language Test System – tests your English-language abilities (writing, listening, speaking, and reading) on a scale of 1.00–9.00. The minimum IELTS score requirement refers to which Overall Band Score you received, which is your combined average score. Read more about IELTS.

    Take IELTS test
  • Minimum required score (Grade C):


    The CAE test – or the Cambridge Advanced English – is an exam for applicants who wish to get a Certificate in Advanced English. To receive the Advanced certificate, test-takers must score between 142 and 210 on the Cambridge English: Advanced test. Read more about CAE.

    Note: degree programmes and applications may require a more specific minimum score for admission.

  • Minimum required score:


    The TOEFL – or Test OF English as a Foreign Language – offers a paper-based test (PBT). The final, overall PBT score ranges between 310 and 677, and is based on an average taken from the three test components (listening, structure, and reading). The writing part of this test is scored separately on a scale of 0-6. Read more about TOEFL (PBT).

  • Minimum required score:


    The TOEFL – or Test Of English as a Foreign Language – offers an internet-based test (iBT). The final, overall iBT score ranges between 0 and 120, and includes a scaled average from the four components (reading, listening, speaking, and writing). Read more about TOEFL (iBT).

Academic Requirements

Admission Requirements:

Applicants are eligible to apply for a master-level studies in the field of science and technology if they have completed:

  • A 34 year bachelors degree from a university or the equivalent education. The degree must entitle the graduate to apply for university-level masters degree studies in the country in question.
  • A polytechnic degree (Finnish university of applied sciences,ammattikorkeakoulu).
  • A polytechnic degree in an EU country if the degree entitles the graduate to apply for university-level masters degree studies in the country in question.
Compulsory documents

  • An officially attestedcopyof an official Bachelor's degree certificate/diploma
  • Authorised translationof the degree certificate/diploma
  • An official transcript of records
  • Authorised translationof the transcript of records
  • CV
  • Copy of passport or an official identification indicating the citizenship of the applicant
  • A demonstration of language proficiency, i.e. language test scores
  • Portfolio

Tuition Fee

  • International Applies to you

    15000 EUR/year
    Tuition Fee
    Based on the original amount of 15000 EUR per year and a duration of 24 months.
Tuition in bachelor's and master's programmes taught in English from August 2017 onwards are subjected to annual fees for non-EU/EEA citizens.

Living costs for Helsinki

910 - 1,400 EUR/month
Living Costs

The living costs include the total expenses per month, covering accommodation, public transportation, utilities (electricity, internet), books and groceries.


Scholarships are available for non-EU/EEA nationals in all of the programmes with the tuition fees. There will not be any scholarship options for programmes with no tuition fees.

StudyPortals Tip: Students can search online for independent or external scholarships that can help fund their studies. Check the scholarships to see whether you are eligible to apply. Many scholarships are either merit-based or needs-based.