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Masters

Real Estate Investment

University College London (UCL)
London , United Kingdom
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Start Date
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Medium of studying
On campus
Duration
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Program Details
Degree
Masters
Major
Construction Management | Finance | Real Estate
Area of study
Architecture and Construction | Business and Administration
Education type
On campus
Course Language
English
About Program

Program Overview

Real Estate Investment (BPLN0011)

Key Information

  • Faculty: UCL Bartlett Faculty of the Built Environment
  • Teaching department: Bartlett School of Planning
  • Credit value: 15
  • Restrictions: N/A

Alternative Credit Options

There are no alternative credit options available for this module.


Description

Content

This module offers a critical introduction to key concepts in real estate investment and finance. The first half of the module introduces key concepts and theories from economics and finance and applies them in the context of real estate markets. The second half of the module offers a critical reflection on the relevance of finance theory to real estate markets, and on the tensions between real estate investment and social/environmental objectives.


Teaching Delivery

The module will be taught through a combination of ten weekly 2-hour interactive seminars. These will be supplemented with ten weekly screencasts (online) and several industry guest lectures.


Indicative Topics

  • Understanding assets and their cashflows
  • Valuing assets through incorporating risk & cost of time
  • Real estate investment in practice
  • Estimate risk & return
  • Modern Portfolio Theory (MPT) and Capital Assets Pricing Model (CAPM)
  • Real estate cycles and finance
  • Critiquing financial theory in real estate
  • Asset manager capitalism
  • Critical trends in real estate investment

Module Aims/Objectives

By the end of this module, students should be able to:


  • Explain and apply key concepts used in finance theory and real estate investment
  • Value different types of (real estate) assets based on finance theory
  • Explain key principles in constructing an appropriate portfolio of assets based on finance theory
  • Discuss the current global real estate investment landscape (including key actors, assets, investment vehicles and trends)
  • Critique finance theory and its compatibility with real estate markets
  • Critique the social and environmental sustainability of certain aspects of real estate investment
  • Explain the drivers of real estate investment trends from a variety of disciplinary perspectives (e.g., historical and economic)

Recommended Readings

  • For the first half of the module: Hartzell, D., & Baum, A. E. (2021). Real estate investment and finance: Strategies, structures, decisions. John Wiley & Sons.
  • For the second half of the module: Christophers, B. (2024). Our lives in their portfolios: Why asset managers own the world. Verso Books.

Module Deliveries for 2026/27 Academic Year

Intended Teaching Term: Term 2

  • Postgraduate (FHEQ Level 7)

Teaching and Assessment

  • Mode of study: In person
  • Methods of assessment: 100% Exam
  • Mark scheme: Numeric Marks

Other Information

  • Number of students on module in previous year: 62
  • Module leader: Dr. Christopher Foye
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