MSc Real Estate Development

Year of entry: 2024

Course unit details:
Real Estate Markets

Course unit fact file
Unit code PLAN61061
Credit rating 15
Unit level FHEQ level 7 – master's degree or fourth year of an integrated master's degree
Teaching period(s) Semester 1
Offered by Planning and Environmental Management
Available as a free choice unit? No



This unit will introduce students to the fundamentals of real estate and also act as an introduction to academic study in this subject area. We will consider the concept of real estate markets: what is a market; how does it operate; what influences it?  In this course unit, you will consider real estate and market hierarchies in both a global and national context.  Students will explore a number of different geographic and sector markets, critically considering the institutional framework around these: political and legal background; social and cultural aspects; technological and environmental factors.  You will study the structure of real estate ownership and how economic and monetary policies shape property cycles and the phenomenon of housing price bubbles.
This course unit includes a short residential field trip to London, designed to encourage critical evaluation and comparison of real estate markets.






  • to provide students with a sound knowledge of the structure and operation of real estate markets and the underlying economic drivers. 
  • to encourage critical debate and reflection on the performance of real estate markets in an international context
  • to foster a spirit of enquiry

Teaching and learning methods


A range of teaching and learning methods will be adopted with conventional lectures used to introduce topics in a structured manner. Workshops and seminars are used to explore a particular issue in more depth and encourage critical debate.  The residential field trip is an important integral part of the course unit and is designed to introduce students to leading players and properties in a particular market.
As noted in the Programme Specification, all course material will be available online. Formative feedback will be given through Q&A, discussion and interactive activities within lectures, workshops, seminars and FAQ section on Blackboard.  Substantive written or audio feedback on your assignments will be provided through Blackboard


Knowledge and understanding

Demonstrate a good understanding of the fundamentals of real estate and the structure and operation of real estate markets.
Demonstrate sound understanding of the causes of economic and property cycles and housing asset ‘bubbles’.
Demonstrate knowledge and understanding of current influences and drivers for a range of real estate markets

Intellectual skills

Critically analyse and evaluate information, make considered judgements and produce innovative and credible solutions to problems

Practical skills

Demonstrate numeracy skills through appreciation of issues around selection, accuracy, uncertainty and approximation with numbers

Transferable skills and personal qualities

Demonstrate ability to communicate ideas and arguments effectively, using a variety of media, to both specialist and non-specialist audience.

Demonstrate high levels of skill in team-working, project management and commercial awareness.

Assessment methods

Method Weight
Portfolio 75%
Oral assessment/presentation 25%

Feedback methods

Formative feedback will be given through Q&A, discussion and interactive activities within lectures, workshops, seminars and FAQ section on Blackboard, including the Property Post discussion board.  Verbal feedback is available on coursework discussed during consultation hours. Substantive written or audio feedback on your assignments will be provided through Blackboard

Recommended reading

Students are not expected to read all of the books listed.  You will be directed to read certain sections of some of these and you may wish to read further on particular topics, either in connection with this course unit or other subjects.

Begg, DKH, Fischer, S. and Dornbusch R. (2013) Foundations of Economics, 5th edn. London: McGraw Hill.
Jowsey, E. (2011) Real estate economics. Basingstoke: Palgrave Macmillan
Tiwari, P. and White, M. (2010) International real estate economics.  Basingstoke: Palgrave Macmillan

Buckle, M. and Thompson, J. (2016) The UK financial system: theory and practice. 5th edn. Manchester: Manchester University Press
Pilbeam, K. (2018) Finance and financial markets 4th edn. London: Macmillan International Higher Education
Valdez, S. and Molyneux, P. (2016) An introduction to global financial markets 8th edn. London: Palgrave Macmillan

Real Estate Markets:
Barkham, R. (2012) Real estate and globalization Oxford: Wiley-Blackwell
Barras, R. (2009) Building cycles: growth and instability.  Oxford: Wiley-Blackwell
Baum, A. (2015) Real estate investment: a strategic approach 3rd ed. Abingdon: Routledge
Cao, J. A. (2015) The Chinese real estate market: development, regulation and investment. Abingdon: Routledge
Dent, P., Patrick, M. and Xu, Y. (2012) Property markets and sustainable behaviour Abingdon: Routledge
Isaac, D. and O’Leary, J. (2011) Property investment 2nd ed.  Basingstoke: Palgrave Macmillan
Lizieri, C. (2009) Towers of capital. Oxford: Wiley-Blackwell
Marriott, O. (1969) The property boom. London: Pan Books
Scott, P. (1996) The property masters: a history of the British commercial property sector Abingdon: Taylor Francis

Study hours

Scheduled activity hours
Fieldwork 24
Lectures 14
Practical classes & workshops 32
Seminars 4
Independent study hours
Independent study 76

Teaching staff

Staff member Role
Selma Carson Unit coordinator

Additional notes

This unit includes a short residential fieldtrip to London, linked to the assessment, normally held in October.


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