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Real Estate

Summary

Are you interested in the sourcing, financial analysis, execution of property acquisitions and developments? What are the strategies and decision-making processes for real estate investment, finance and development? How can you successfully manage a real estate portfolio? How do you underwrite and undertake the due diligence of various investment and development opportunities?

The MSc Real Estate is designed for those graduates with a non-property related degree who wish to cross over to the real estate discipline. The programme is for anyone with an interest in the workings of real estate markets and property businesses. Core areas include development and investment appraisal, economics, sustainability, asset management, valuation, international real estate, land and housing market analysis. Graduates will gain the key skills necessary to embark across a wider range of employment opportunities at the local, national and international levels.

The unique qualities which this programme will offer include integrating concepts in finance, investment and valuation with an understanding of the dynamics of property and capital markets. It will provide students with the capacity, skills and knowledge to provide analytical solutions within the property business environment.

About

This is a linked programme of awards leading to a Postgraduate Certificate/Diploma or an MSc in Real Estate. The rationale is to provide an intensive postgraduate educational opportunity for ambitious and motivated graduates wishing to be real estate professionals by making a career in property at local, national or international level. The subject matter is presented with an international perspective to reflect the increasingly strong role of property in today's global business economy and to be of relevance to a career incorporating multinational organisations operating particularly in the UK, Europe, UAE, North America and Asia.

The overarching aim of this master's programme is to facilitate the personal and intellectual capacity of full time and part time students and to produce graduates with the knowledge and skills appropriate to the understanding and management of property based on the investment, pricing and financing of real estate assets. The unique qualities which this programme will offer include integrating concepts in finance, investment and valuation with an understanding of the dynamics of land and property markets. It will provide students with the capacity, skills and knowledge to provide analytical solutions within the property business environment.

The programme will also provide for the integration of theory and practice in real estate management, investment and development appraisal methodologies. The key areas of real estate asset pricing and risk analysis, relevant to the commercial real estate industry, banks and institutional investors, are where the research interests of the core teaching group are closely related to the delivery of the programme. The multidisciplinary nature of the programme will use expertise from professional practice to develop thematic approaches to asset management, valuation, risk analysis, development and investment fund management. Particular emphasis will focus on real estate performance, land and housing markets and the impacts of changes in the economy on yields, rental values, development activity, investment returns, asset management and pricing of multi-asset portfolios.

The Royal Institution of Chartered Surveyors (RICS) as the professional body plays a very significant role in advising and accrediting property related programmes within the School. This MSc in Real Estate is accredited by the RICS for both full-time and part-time modes of delivery. The course also meets the licencing requirements of the Property Services Regulatory Authority (PSRA) in the Republic of Ireland.

The full-time offers two points of entry in each academic year: September and January. For the full time September intake, the degree will normally be completed in three semesters across a single academic year. For the full time January intake, the degree will normally be completed in three semesters but across two academic years.

Teaching and learning assessment

The Real Estate programme is delivered via a variety of lectures, seminars, computer tutorials, educational videos, practical exercises and study visits. Staff are encouraged to vary their teaching styles and facilitate small group teaching or break-out seminars as much as possible. Class sizes are kept small to ensure that students benefit from one-to-one support and tutorage. Modules are assessed through a mix/combination of coursework, examinations or practical exercises depending on the skills being assessed.

Professional recognition

Royal Institution of Chartered Surveyors (RICS)

Accredited by the Royal Institution of Chartered Surveyors (RICS) for the purpose of graduate membership.

Entry requirements

Entry Requirements

(a) Applicants must have gained an Honours or non-Honours degree from a University of the United Kingdom or the Republic of Ireland, or from a recognised national awarding body, or from an institution of another country which is recognised as being of an equivalent standard; or

(b) an equivalent standard in a Postgraduate Certificate, Graduate Diploma, Graduate Certificate or an approved professional or other qualification; and

(c) provide evidence of competence in written and spoken English (GCSE grade C or 4 or equivalent);

As an alternative to (a) or (b) and/or (c) in exceptional circumstances, where an individual has substantial and significant experiential learning, a portfolio of written evidence demonstrating the meeting of graduate qualities (including subject-specific outcomes, as determined by the Course Committee) may be considered as an alternative entrance route.

Evidence used to demonstrate graduate qualities may not be used for exemption against modules within the programme.

This is a linked Postgraduate Certificate/Postgraduate Diploma/Master's programme. Students will register on the Postgraduate Certificate. Successful students will be permitted automatic progression through each stage of the programme to Master's level. Alternatively, students who have successfully completed the Postgraduate Certificate or Postgraduate Diploma stages may exit the programme with the appropriate award.

Prior certificated or evidence from the accreditation of prior experiential learning may be accepted as exempting candidates from part of the programme provided that they shall register as students of the University for modules amounting to at least the final third of the credit value of the award at the highest level in respect of a Master's award and at least 50% of the credit value of the award in respect of the Postgraduate Diploma or Postgraduate Certificate award.

English Language Requirements

English language requirements for international applicants
The minimum requirement for this course is Academic IELTS 6.0 with no band score less than 5.5. Trinity ISE: Pass at level III also meets this requirement for Tier 4 visa purposes.

Ulster recognises a number of other English language tests and comparable IELTS equivalent scores.

Exemptions and transferability

With regard to transferring to and from the course and claiming exemption for completed modules, the University has developed a formal procedure, which allows recognition through the award of credit for previous modules that have been successfully completed. Therefore, modules passed in respect of other qualifications awarded by the University or by another university or other educational institution, or evidence from the accreditation of prior experiential learning, may be accepted as exempting candidates from part of the programme provided that they shall register as students of the University for modules amounting to at least the final 50% of the credit value of the award at the highest level.

Duration

Attendance

Full-time
This is a full-time, one year (12 month) programme, delivered across three semesters. For students commencing in January, the programme is delivered in three semesters across two academic years.

In the full time mode, students take four 15-credit modules per semester and each module equates to a student effort of 150 hours, made up of direct contact hours (i.e. that delivered in the classroom) and the remainder as independent study time which would involve reading books, journals and researching for coursework etc. The optional Dissertation module carries 60 credit points, equivalent to 600 total hours of student learning on research and project design, methodology and data analysis, practical skills and report preparation. The optional Real Estate Work Based Project Module (60 credits) is designed as an alternative to the Dissertation module to provide a 3 month work internship for students with no prior real estate industry experience, who then produce a work diary and report related to their work experience.

On average the contact time per week for each module will be 5 hours (with a mix of lectures and tutorials) i.e. 5 hours x 4 modules = 20 contact hours. This varies in some modules but will never be more than 5 hours per week per module. Usually these contact hours are spread across a minimum of 2-3 days in the full time mode across 12 weeks per semester.

The part time provision offers two points of entry in each academic year: September and January. For both intakes, the degree will normally be completed across three academic years.

Part-time
In the part-time mode, students take two 15-credit modules per semester per year and each module equates to a student effort of 150 hours, made up of direct contact hours (i.e. delivered in the classroom) and the remainder as independent study time which would involve reading books, journals and researching for coursework etc. Students also undertake a 60-credit Dissertation in year 3, which has limited direct teaching but has a staff supervisory process to support you or a Real Estate Work Based Project.

On average the contact time per week for each module will be 5 hours (with a mix of lectures and tutorials) i.e. 5 hours x 2 modules = 10 contact hours. This varies in some modules but will never be more than 5 hours per week per module. Usually these contact hours are spread across a minimum of 1-2 days in the part-time mode across 12 weeks per semester.

Careers or further progression

Career options

The programme is designed to provide a wide range of career opportunities for student choice. Employers include major real estate surveying firms, property investment and development companies, financial institutions, specialist research department/companies, governments and other public sector organisations around the world.

Real Estate professionals provide business advice on the purchase, sale, leasing and acquisition of commercial real estate including management of real estate portfolios to maximise the value of real estate as an asset class. Real estate players are able to creatively apply technical, legal and economic knowledge to deliver on a stakeholder's property objectives and meet current business needs and future strategy.

This course is designed to prepare graduates for future employment in a number of the RICS APC Pathways, which include:

Commercial Property Practice
Residential Property Practice
Valuation.

Further enquiries

Dr Jasmine Lay-Cheng Lim
T: +44 (0)28 9036 8562
E: lc.lim@ulster.ac.uk

Admissions contact:
Renee Magee
T: +44 (0)28 9036 8496
E: r.magee2@ulster.ac.uk

Centralised Admissions staff:
T: +44 (0)28 9036 6305
E: admissionsjn@ulster.ac.uk

Subjects taught

FOR THE SEPTEMBER FULL TIME INTAKE, THE SEQUENCE OF MODULES ARE AS FOLLOWS:

Semester one of the FT study

4 Compulsory Modules:
Real Estate Economics
Real Estate Valuation
Sustainable Real Estate

Ral Estate Asset Management

Semester two of the FT study

4 Compulsory Modules:
Development Appraisal and Regeneration
Risk Management Practices
Real Estate Investment Analysis
International Real Estate Markets

Semester three of the FT study

1 Optional Module:
Real Estate Work Based Project; or

Dissertation

FOR THE JANUARY FULL TIME INTAKE*, THE SEQUENCE OF MODULES ARE AS FOLLOWS:

First Semester of Year 1 FT study

4 Compulsory Modules:
Development Appraisal and Regeneration
Risk Management Practices
Real Estate Investment Analysis
International Real Estate Markets

Second Semester of Year 2 FT study

4 Compulsory Modules:
Real Estate Economics
Real Estate Valuation
Sustainable Real Estate
Real Estate Asset Management

Third Semester of Year 2 FT study

1 Optional Module:
Real Estate Work Based Project; or

Dissertation

The January full time intake students will take the scheduled semester two modules (Development Appraisal and Regeneration; Risk Management Practices; Real Estate Investment Analysis; International Real Estate Markets) during their first semester of study and the remaining modules (Real Estate Economics; Real Estate Valuation; Sustainable Real Estate; Real Estate Asset Management) in their second semester of study. They will progress onto the Masters Module (Real Estate Work Based Project; or Dissertation) during their third semester of study in the Spring semester in their second year of the course.

* Subject to interview or relevent industry/academic experience

Application date

Application is through the University's online application system.

Enrolment and start dates

Start Dates:ď„…September 2019 & January 2020

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