Program Overview

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Real Estate Investment MSc

Key information

Duration: 12 months

Attendance mode: Full-time

Location: Bunhill Row, Central London

Start of programme: September 2025

Application deadline: Rolling applications

Entry year: Showing course information for 2025

Overview

The postgraduate degree in Real Estate Investment is your gateway to a successful career across the multidisciplinary real estate profession or the broader investment and finance environment. Choose this course if you’re looking for roles and a career in real estate investment strategy, capital markets and fund management, real estate finance but also in all areas of real estate including professional services.

Whether you are a graduate with the equivalent of a UK upper second-class degree, seeking to advance your real estate career, or just starting out, you already have an interest in real estate and are eager to develop the strong analytical and practical skills highly sought after in the real estate profession.

Accreditation

Accredited by The Royal Institution of Chartered Surveyors (RICS) and recognised by the Investment Property Forum.

Why choose this course?

• Focus on investment strategy, finance, fund management, risk analysis, financial modelling
• Connect with professionals and employers from London’s thriving real estate industry via seminars, events, guest speakers and the Bayes Real Estate Club

Comprehensive academic learning for innovative thinking ready to apply in industry

• Accredited by The Royal Institution of Chartered Surveyors (RICS) and recognised by the Investment Property Forum, enabling graduates to enter the RICS Assessment of Professional Competence (APC) qualification.

Course objectives

The Bayes MSc in Real Estate Investment prepares you for the complexities of real estate investment and finance, as well as other areas in the real estate field. The programme is designed to provide you with the academic rigour and analytical skills needed to critically evaluate market conditions, assess risks, and make well-informed investment decisions.

Teaching staff

Your Course Director will be Professor Sotiris Tsolacos, who is an academic with years of practical experience. Previously he was with Henley Business School and held posts at JLL and Property Portfolio Research/Costar from 1999 to 2013. He is working closely with property service providers, investment managers and private equity firms on a range of topical real estate themes. He is co-author of the standard textbooks Applied Quantitative Analysis for Real Estate and Real Estate Modelling and Forecasting. He is the recipient of the European Real Estate Society’s Achievement Award.

Professor Sotiris Tsolacos teaches on the Applied Statistics module, Applied Financial Analysis module, Economics and Market Analysis module and Debt Finance and Investment module.

Other teaching staff and modules they teach on

• Professor David Blake is Head of The Pensions Institute and an investment expert.
  • Investment Markets module.
• Christopher Bourn has more than 25 years' real estate experience, which includes private equity, investment banks and property company investor developers, with coverage in the UK and Pan European markets.
  • Appraisal and Financial Modelling
  • ARGUS software training
  • Debt Finance and Investments
• Stephen Lee is an internationally recognised academic, who sits on the boards of the European Real Estate Society and the International Real Estate Society. He has published over 100 papers.
  • Appraisal and Financial Modellng
  • Portfolios and Asset Allocation
• Alex Moss is Course Director for the MSc Real Estate programme and the Director of the Real Estate Research Centre at Bayes. He has previously held senior roles with Macquarie, Apax Partners, CSFB and BZW. He is currently Chairman of the Research Committee of the European Public Real Estate Association and runs a consultancy business advising institutions on their listed real estate strategies. He has authored numerous industry publications and academic papers. Alex is a Fellow of the Higher Education Academy.
  • Real Estate Equity Analysis

Accreditation details

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 (IPF) in the UK recognises the programme as a gateway to the real estate investment field. The successful completion of the programme provides fast-track membership, providing that the candidate has two years of relevant professional experience. As a student on the programme, you can take the IPF Student membership for free for the duration of your studies to access IPF’s extensive seminar programme, research reports and the online Resource Library.

Course content

Overall, the MSc Real Estate Investment can be described as a real estate degree with a strong foundation in investment and finance principles.

The topics and methods you study are relevant to all real estate businesses, including mainstream employers like chartered surveyors, while your training in investment and finance broadens your career options. However, the programme does not limit you to any specific type of firm or role.

In Term 1, you build a foundation in the core skills of a real estate professional. You will learn basic appraisal methods for valuation, development, and investment financing, as well as financial modelling.

Additionally, you will take an applied statistics module that focuses on using statistics for investment analysis and market forecasting. This knowledge is broadened through modules on economics and market analysis, along with an investment markets module that covers financial markets and includes alternative real estate markets.

Term 2 focuses on applying these core skills and principles in greater depth. You will explore financial instruments and techniques for analysing securitised equity and debt markets, the private debt market, portfolio risk, property futures, and emerging forms of real estate investment such as tokenisation.

In the Real Estate Equity Analysis module, you will examine different forms of indirect real estate investment, including REITs and property funds (core, opportunistic, and value-add). The Debt Finance and Investment module covers mortgage lending, risk analysis for lenders, IRR calculation in the event of default, mezzanine finance, mortgage-backed securities, and fund performance analysis when debt is utilised.

The Portfolio and Asset Allocation module addresses the role of real estate in investment portfolios and the composition of assets within real estate portfolios. This module also involves practical applications using real estate databases and performance data.

In Applied Financial Analysis, you will further develop your analytical skills and acquire advanced tools to address real-world issues in real estate investment and risk analysis. Topics include fair value assessments in real estate, risk-adjusted metrics, waterfall structures, industry forecast assessments, and training in ARGUS and Python.

The practical knowledge gained in Term 2 is further enriched by dedicated lab sessions and guest lectures from industry professionals.

In Term 3, you can choose two options; a general research project or research methods; each with a blend of electives.

Course structure

Programme content is subject to change. We regularly review our module offering and amend to keep up to date and relevant.

Induction weeks

All of our MSc courses start with two compulsory induction weeks which include relevant refresher courses, an introduction to the careers services and the annual careers fair.

Term 1

• Investment Markets
• Applied Statistics
• Appraisal and Financial Modelling
• Economics and Market Analysis

Term 2

• Portfolios and Asset Allocation
• Real Estate Equity Analysis
• Applied Financial Analysis
• Debt Finance and Investments

Term 3

You may choose from the following options in your final term.

Route 1:

BBM110 General Research Project, plus three 10 credit electives

Route 2:

Six 10 credit electives, including BBM109 Career Management Skills and Research Methods

Assessment methods

• Course work
• Examinations
• Group projects
• Presentation

Term dates

Term dates 2025/26

• Induction: 15th September 2025 - 26th September 2025
• Term one: 29th September 2025 - 12th December 2025
• Term one exams: 5th January 2026 - 16th January 2026
• Term two: 19th January 2026 - 3rd April 2026
• Term two exams: 20th April 2026 - 1st May 2026
• Term three - international electives: 4th May 2026 - 15th May 2026
• Term three: 18th May 2026 - 3rd July 2026
• Term three exams: 6th July 2026 - 17th July 2026
• Resits: 10th August 2026 - 21st August 2026
• Additional resit week - tests only: 24th August 2026 - 28th August 2026.

Careers

Graduates from this course may follow the same path as those from the MSc in Real Estate, but will be better qualified for real estate analyst roles in investment strategy, financing, and research. The MSc in Real Estate Investment offers a clear route for entry to the Investment Property Forum in the UK. Recent employers include Aventos, Crescendo Group, Bricksave and Savills OCM.

Recent graduates have secured positions including:

• Investment Analyst
• International Capital Markets Analyst
• Real Estate Structured Finance Analyst
• Credit Analyst
• Graduate Surveyor
• Assistant Manager of Research
• Development Trainee
• Deal Advisory Trainee
• Assistant Site Manager

Fees & funding

International fee

September 2025 entry

£28,200

Tuition fees are subject to annual change.

UK/Home fee

September 2025 entry

£27,000

Tuition fees are subject to annual change.

Deposit: £2,000 (usually paid within 1 month of receiving offer and non-refundable unless conditions of offer are not met).

First installment: Half fees less deposit (payable during on-line registration which should be completed at least 5 days before the start of the induction period).

Second installment: Half fees (paid in January following start of course).

Graduate Loyalty Discount

We are offering a Graduate Loyalty Discount of 20% on tuition fees to all our alumni when applying to any of our degree courses.

To be eligible for the discount you must have successfully completed an undergraduate or postgraduate degree at legacy City, University of London or legacy St George's, University of London.

To apply you will need to be accepted onto your intended course of study and to meet all the normal academic admissions criteria for the relevant course at City St George's, University of London.

Scholarships & bursaries

Scholarships, sponsorships, loans and other funding could support your education at Bayes Business School.

Learn about the cost of living as a Bayes student in London.

View our scholarships and funding

Entry requirements

• A UK upper second class degree or above, or the equivalent from an overseas institution.
• Applicants for the MSc in Real Estate Investment will be required to have a basic knowledge of quantitative methods.
• Work experience is not a requirement for this course.

English language requirements

If you have been studying in the UK for the last three years it is unlikely that you will have to take an English language test.

If you have studied in the UK at degree level for less than three years (e.g. 3+1, 2+1, 2+2, etc.) you will be required to provide the results of an approved English language test and possibly resit the test to meet our academic entry requirements.

Full list of approved English language tests/qualifications and minimum requirements.

Apply

Please see our Application Guide for details of the documents you will need to supply as part of your application, and other useful information.

We cannot comment on individual eligibility before you apply. We can only make a decision on your application once it is fully complete, with all requested information received.

Frequently asked questions

Apply for September 2025 entry

We only accept online applications.

Apply - MSc Real Estate Investment

Individual Appointments

If you would like to arrange an individual appointment to discuss the application process and be given a tour of the facilities, please complete this form.

Please note - these are subject to availability and will be on campus.

Terms and conditions

Students applying to study at Bayes Business School are subject to City St George's, University of London's terms and conditions.

Student life

We are located right in the heart of London. Being a City St George's student allows you to take advantage of all that London has to offer.

London is continually ranked as one of the 'Best Student Cities' in the world to study within (QS, 2019).

• Living in London
• Student support
• Accommodation

Have a question about student experience at Bayes?

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Contact us

Speak to one of our staff from Master's programmes teams.

• Book an MSc Consultation
• Enquiries form
• Events

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