MSc Real Estate

The course

Delivery
Online learning
Course award
MSc
Location
Online
Entry date
September, January

Ranked 2nd in Scotland and 10th in the UK for Town and Country Planning and Landscape in The Times / The Sunday Times Good University Guide 2021.

Contact

Overview

Our internationally recognised MSc Real Estate is designed to align your skills to the educational requirements of the industry’s professional bodies. Global relevance and employability are at the core of our curriculum design. The programme will enable you to understand the operation of real estate markets and develop a deep understanding of the techniques applied in them. You will gain the key skills necessary to embark on a wide range of careers in the global real estate industry.

This Masters programme is especially suitable if you have a non-real estate related degree and desire to develop skills and knowledge in the real estate sector. The MSc will lead to exciting employment opportunities across the industry.

Programme duration

Online Learning: The fastest this MSc can be completed is in 2½ years. The maximum completion timeframe is 8 years. On average, most students complete a MSc in 3-4 years.

Flexible study options

The online MSc Real Estate programme has been designed with flexibility in mind. It is ideal for those in employment or with other commitments, providing flexible study options that fit around work or family. Some features that our students value include:

  • MSc degrees can be completed between 2½ - 8 years, depending on your pace of study.
  • You have up to two years to complete an individual course (or module) after registering for the course.
  • You can choose to sit exams in one of 450 exam centres around the world. Exam centres are present in most major cities.
  • Courses are paid for on a ‘pay-as-you-study’ basis, allowing you to spread the payments across the duration of your degree.

The MSc Real Estate can also be studied on-campus on a full-time or part-time basis.

Delivery of online programmes

Our up-to-date and progressive course materials are made available online through the Virtual Learning Environment (VLE). The VLE links you with our expert academics and course materials through videos, webinars, articles, journals, assessments and discussion boards. Tutors will provide you, by phone, Skype or email, with academic support similar to that received by our on-campus students.

To find out more about time requirements, support and exams, view our How online learning works pages to find out more. 

Industry links

This programme benefits from the expertise of research-active and industry-minded staff. Along with teaching staff, several honorary professors from industry guest lecture and advise on student research projects.

Accreditation

This course is accredited by the Royal Institution of Chartered Surveyors (RICS). RICS accreditation demonstrates a globally-recognised standard of real estate education.

Course content

For the MSc, students undertake eight taught courses and submit a Masters dissertation. Students on the PgDip course take eight taught courses. Each taught course represents 150 hours of student effort and the dissertation represents 600 hours.

Course structure
Semester 1 Semester 2
Urban Economy and Property Markets Real Estate Investment Analysis
Real Estate Appraisal and Finance Real Estate Management and Sustainability
Construction Technology 3 Real Estate Development
Business Analytics and Introduction to Big Data Advanced Real Estate Valuation

Urban Economy and Property Market

Semester 1 (mandatory)

This module aims to develop an understanding of the spatial dimensions of property markets, the interaction between the property market and the urban economy and the impact on local property markets on urban management policies.

Real Estate Appraisal and Finance

Semester 1 (mandatory)

This course aims to establish the economic context for the creation of value, introduce the principles for the assessment of value in property markets, develop a clear understanding of the valuation process and appropriately apply the principal valuation methods (conventional and contemporary) to a range of property types and interests. Subjects covered by the syllabus include:

Economic context of the property market; The property professions: their role, ethical conduct and regulatory framework; Definitions of price, value and investment value (worth); Introduction to the principal techniques of property valuation; Valuation and appraisal mathematics: Present and Future Value, DCF, NPV and IRR; The valuation process; Analysis of market evidence and measurement practice.

Construction Technology 3

Semester 1 (mandatory)

The overall aim of this course is to provide students with a basic understanding of construction methods in buildings. The course addresses different concepts in modern buildings construction, namely: on-site and off-site construction, and low carbon construction. Subjects include:

Structural Requirements for Buildings: Foundations, Basement construction, Masonry and framed structures, Cladding and roofing;  An overview of off-site construction: Practical issues and case studies, Factory production; Low carbon construction: An overview of low carbon construction, Low carbon technologies.

Business Analytics and Introduction to Big Data

Semester 1 (mandatory)

This course aims to help students to develop a critical understanding of: Different approaches used by managers and management consultants to solve business decision problems; The purpose and value of business analytics in management decision making; The key statistical concepts that underpin aspects of strategic decision sciences; The practical skills to apply a range of analytical techniques used by Business Analysts; The key concepts of Big Data. The syllabus includes the following subjects:

Descriptive Analytics: Measure what is happening, Data Visualisation, Descriptive Statistics and Probability; Diagnostic Analytics; Predictive Analytics; Prescriptive Analytics; Introduction to Big data.

Real Estate Investment Analysis

Semester 2 (mandatory)

This course aims to enable learners to develop an in-depth understanding of property as an investment medium and the application of investment and finance theories to both the general investment markets and the property market. The syllabus consists of the following topics:

Investment theory and the investment decision; the nature of risk and return; the characteristics of property as an investment; the role of property in the multi-asset portfolio; the application of modern portfolio theory; introduction to international real estate portfolio analysis performance monitoring; the emergence of new financial products in the property sector, and market efficiency and the cause of mis-pricing, real estate derivatives.

Real Estate Management and Sustainability

Semester 2 (mandatory)

This course aims to give students an understanding of: the legal framework for property management and ownership; the roles and functions of the property asset manager; the financial, legal and technical skills within the management domain; concepts and tools for sustainability management within real estate. Subjects covered by the syllabus include:

Law of contract, delict, land ownership; Strategy Management introduction and the role of management within surveying; Financial management/Sinking funds/service charges; Lease management; Marketing and negotiation; Physical property management; Concepts of obsolescence; Buy/lease/outsource decision-making and financial analysis; Real Estate management models; Scenario planning; International comparison of real estate strategies; Sustainable development, buildings and corporate social responsibility.

Real Estate Development

Semester 2 (mandatory)

This course aims to achieve an understanding of the structure and functioning of the contemporary real estate market and of the factors influencing the development decision. Subjects covered by the syllabus include:

The real estate market and the property development industry; The factors influencing the development decision; The techniques of development appraisal including cashflow techniques and risk analysis; The nature of planning agreements and their impact on development appraisal; The general form and content of real estate development and investment finance; The form and content of real estate partnerships including appraisal and financing aspects.

Advanced Real Estate Valuation

Semester 2 (mandatory)

This course aims to develop a critical evaluation of valuation and appraisal methods and provide an opportunity to develop an in-depth knowledge of advanced methods of valuation and appraisal for land and property markets. The course is intended to discuss and explore the following issues:

Investment appraisal: An examination of current issues in investment appraisal; Spreadsheets; Mass appraisal: application of statistical techniques for property appraisal; Business appraisal; Professional valuation and appraisal software.

Career

We have students from all ages, cultures, backgrounds and walks of life but there are two distinct and common motivations: Some students come to advance their existing careers within the property and real estate industry, where they are already employed. Others are from different educational or professional backgrounds and wish to enter the industry using this qualification. This course offers students a structured path to become chartered. To read about what our students and graduates think about studying online visit our Meet our students pages.

Whatever the motivation, with strong professional links and a focus on up-to-date industry-relevant content, our Real Estate programme equips graduates with the knowledge and skills to quickly and effectively contribute to wide and varied roles within the real estate industry.

Graduates of this course are highly sought after in the real estate industry. Graduates from this area have gone on to work within some of the largest and most prestigious international real estate organisations and firms.

Real estate service firms

Avison Young, CBRE, Cluttons, Cushman & Wakefield, Drivers Jonas Deloitte, DTZ, EYCO, Gerald Eve, Jones Lang LaSalle, Knight Frank, Rydens and Savills

Investment banks

Barclays Capital, BNP Paribas, Deutsche Bank and JP Morgan

Institutional investors and investment funds

Aviva, Aberdeen Standard Investments, Legal & General

Consultancy firms

PWC and Deloitte Real Estate

Investment and development companies

British Land, Cala Homes, Grosvenor and Land Securities

We also have a proven track record in research, and a number of our graduates continue in research to complete PhD study.

Why Heriot-Watt Online?

Quality

Study towards the same high-quality qualification as if you were studying in-person, with no difference in degree certificate or transcript, including an Edinburgh campus graduation ceremony.

Flexibility and affordability

Study at a time and pace that suits you, and even while you work. HW Online offers pay-as-you-study courses and fees inclusive of exams and study materials, meaning you can focus on success, not extra costs.

Online community and help

Studying with us means you join an online community of over X students, allowing you to chat and learn from your fellow students through our virtual learning environment.

Employability and careers

Heriot-Watt produces more CEOs than any other University in Scotland, and 95% of graduates are in employment or further study within 6 months of graduation.

Lifelong connections

Upon completing your studies you will automatically join the UK’s oldest alumni association The Watt Club, with 147k members worldwide.

Track record

We’ve been providing high quality online and distance learning across the world for over 25 years.

Reputation

Be part of a Business & STEM renowned University with over 200 years of heritage. We’re proud to be ranked #1 by The Times/Sunday Times Good University Guide 2022 for a number of our Engineering subjects, including Chemical, Civil, Electrical and Electronic Engineering.

Entry requirements

For MSc level entry applicants must have:

  • Minimum of 2:2 honours degree or equivalent academic qualification in cognate and semi-cognate subject area. Corporate (or chartered) membership of relevant professional institutions will also be considered.

For PG Diploma level entry applicants must have:

  • Third class honours degree in a cognate or semi-cognate subject area PLUS 2 years of relevant experience at an appropriate level completed post qualification.
  • Cognate or semi-cognate ordinary degree PLUS 3-4 years of relevant experience at an appropriate level following graduation.
  • Candidates who do not meet the above entry requirements or have no formal academic qualifications will be considered individually based on their CV and interview. Admission via this route will be at the discretion of the Director of Admissions and the number of successful applicants will be restricted.

There is no entry at PG Certificate level except through exceptional agreement with approved learning partners.

Recognition of Prior Learning

We are committed to providing study opportunities to applicants who have a wide range of prior experiences through Recognition of Prior Learning (RPL). For more information on RPL, please contact the Online Admissions Team (egis-idl-apps@hw.ac.uk) ahead of application. We can only consider requests for RPL at the time of application to a course of study. 

English language requirements

If English is not the applicant’s first language a minimum of IELTS 6.5 or equivalent is required with all elements passed at 6.0 or above.

Applicants who have previously successfully completed courses delivered in the medium of English language may be considered and will be required to provide documentary evidence of this. Examples would be secondary school education or undergraduate degree course. A minimum of at least one year of full time study (or equivalent) in the medium of English language will be required.

We offer a range of English language courses to help you meet the English language requirement prior to starting your masters course:

  • 14 weeks English (for IELTS of 5.5 with no more than one skill at 4.5);
  • 10 weeks English (for IELTS of 5.5 with minimum of 5.0 in all skills);
  • 6 weeks English (for IELTS 5.5 with minimum of 5.5 in reading & writing and minimum of 5.0 in speaking & listening)

Additional information

Entry dates

Online Learning students can choose to start their studies in January or September. The January intake is not available to students studying on-campus.

Computing requirements

Please note that Online Learning students who access their studies online will be expected to have access to a PC/laptop and internet.

Fees

Tuition fees for 2022 entry
Status Per course Dissertation
UK / EU / Overseas £1440 £1850

Additional fees information

Students pay £1440 per course and £1850 for the Dissertation. This programme consists of 8 courses (modules). MSc students are also required to submit a Masters dissertation.

For questions about Heriot-Watt Online fees, please contact hwonlineapps@hw.ac.uk

Financial support

Tuition fee loans of £5,500 are available to Scottish distance learning students on taught postgraduate courses. Full-time distance learning postgraduate students can also access a £4,500 living cost loan. Find out more from the Students Awards Agency Scotland (SAAS)

Scholarships and bursaries

We aim to encourage well-qualified, ambitious students to study with us and we offer a wide variety of scholarships and bursaries to achieve this. Over £6 million worth of opportunities are available in fee and stipend scholarships, and more than 400 students benefit from this support.

View our full range of postgraduate scholarships.

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