MSc Real Estate Development

Fees for entry in 2027 have not yet been set. For reference, the fees for the academic year beginning September 2026 were as follows:

• MSc (full-time)
  UK students (per annum): £17,300
  International, including EU, students (per annum): £32,600

The fees quoted above are fully inclusive of tuition, administration and computational costs.

Fees for entry are subject to yearly review. The University reserves the right to increase your tuition fee by up to 7% each year for courses lasting more than one year, including to reflect rising costs associated with delivering our educational and wider student experience. Postgraduate fees information .

Always contact the admissions team if you are unsure which fee applies to your qualification award and method of attendance.

International student CAS deposit

Self-funded international applicants are required to pay a deposit of £2500 towards their tuition fees before a confirmation of acceptance for studies (CAS) is issued. Some applicants will be required to pay a higher deposit. More information on tuition fee deposits .

This course has normally included a residential field trip which is an optional part of the course.

Please note there is a student contribution towards the cost of the trip depending on the location.

All students should normally be able to complete their programme of study without incurring additional study costs over and above the tuition fee for that programme. Any unavoidable additional compulsory costs totalling more than 1% of the annual home undergraduate fee per annum, regardless of whether the programme in question is undergraduate or postgraduate taught, will be made clear to you at the point of application. Further information can be found in the University's Policy on additional costs incurred by students on undergraduate and postgraduate taught programmes (PDF document, 91KB).

We know that student finance can be complicated. The links below provide further information to help guide you.

Learn more about - student finance options for UK students.

Learn more about - fees and finance for international students.

Graduates of The University of Manchester and Manchester Metropolitan University can receive a 10% discount on their master's degree tuition fees as part of our Manchester Alumni Loyalty Discount scheme.

This unit is a combination of investment and finance. It aims to comprehensively examine the broad investment markets and to place into context the role of real estate as an investment asset by examining alternative investment vehicles.

The unit will examine principles of investment and asset valuation across a wide variety of asset classes including: equities, debts and derivatives markets. The unit will equip students with knowledge of debt instruments, risk mitigation techniques, and debt securitisation used in the financing of real estate, and the structuring of debt instruments as investment products.

Through national and international case studies and discussions during lectures, students will be equipped with knowledge of the real estate capital markets. Through workshop and tutorial exercises the students will develop competence in the application of quantitative techniques for evaluating real estate investment potential of assets. Though the assessment process, students will be able to hone quantitative and numeracy skills and undertake an evaluation of investment strategies of real estate funds.

 

A range of teaching and learning methods will be adopted with conventional lectures used to introduce the topics in a structured manner. Workshops and tutorials will be used to apply real estate investment analytical techniques and to facilitate critical debate about key issues in real estate investment theory and practice.

All unit material will be available online. Formative feedback will be provided through Q&A, discussion and interactive activities within lectures, workshops and tutorials. Where appropriate, the discussion board on VLE will be used as a repository for FAQs.

• Demonstrate an understanding of different classes of investment, the role of direct and indirect property investment, and the structuring of debt and equity instruments as investment products
• Have an overview of the current real estate finance market
• Understand, analyse and compare alternative real estate funding techniques
• Demonstrate a critical understanding of debt instruments, risk mitigation techniques and debt securitisation used in the financing of real estate

• Undertake portfolio review and strategic investment decision-making
• Apply and critically analyse measures of property investment performance

• Construct robust models to analyse and value real estate investments
• Anticipate real estate investment problems and structure appropriate solutions
   

• Collect and interpret quantitative and qualitative data
• Effectively communicate ideas and concepts in writing

Essay (3000 words) 100% weighting

Detailed feedback on summative assessments will be provided via VLE. This will be in written format. 
 

Baum A. (2015) Real Estate Investment: A Strategic Approach (3rd Edition), Abingdon: Routledge
Brown G. and Matysiak G. (2000) Real Estate Investment: A Capital Market Approach, Harlow: Financial Times (Prentice Hall)
Enever N., Isaac D. and Daley M. (2010) The Valuation of Property Investments (7th Edition) Oxford: EG Books
Isaac D. and O’Leary J. (2011) Property Investment (2nd Edition), London: Palgrave Macmillan
Cuthbertson, K. and Nitzsche, D. (2008) Investments, 2ndEdition Chichester: Wiley
Bruggeman W. B. and Fisher J. (2010) Real Estate Finance & Investment, 14th edition,
Irwin McGraw-Hill Geltner, D., Miller N., Clayton, J. and Eichholtz, P. (2007), Commercial Real Estate Analysis and Investments, Arizona: South-Western Educational Publishing
Ball, M., Lizieri, C., and MacGregor, B.D. (1998) The Economics of Commercial Property Markets, London: Routledge
Baum, A. and Hartzell, D. (2011): Global Property Investment - Strategies, Structures, Decisions, Oxford: Wiley Blackwell
Brooks, C. and Tsolacos, S. (2010) Real Estate Modelling and Forecasting, Cambridge: Cambridge University Press
Chan, S. H.; Erickson, J. and Wang, K. (2003) Real Estate Investment Trusts: Structure, Performance and Investment Opportunities Oxford: Oxford University Press
Imperiale, R. (2002) Real Estate Investment Trusts: New Strategies for Portfolio
Management, New York, John Wiley and Sons Inc
Linneman, P. (2011) Real Estate Finance and Investments, 3rd Edition, Philadelphia: Linneman Associates
Lizieri, C. (2009), Towers of Capital, Oxford: Wiley-Blackwell
Westerfield, R. and Jordan, B. (2012) Fundamentals of Corporate Finance, 8th edition, Boston: McGraw Hill