MPRE Master of Planning with Real Estate

Year of entry: 2022

Course unit details:
Introduction to Real Estate

Unit code PLAN10201
Credit rating 20
Unit level Level 1
Teaching period(s) Semester 1
Offered by Planning and Environmental Management
Available as a free choice unit? Yes

Overview

This unit will introduce students to the fundamentals of real estate. You will study the structure and operation of the real estate market: what is a market, how does it function, who influences it and what are the key drivers? You will explore a number of different geographic and sector markets, critically considering the institutional framework around these: the political and legal background, social and cultural aspects, technological and environmental factors. In this course unit, you will consider real estate in both an international and national context.

We will consider the role of real estate from the perspective of both the investor and space end-user to develop your understanding of the factors which affect the value of real estate. We will also examine the function of real estate development and management within the property life-cycle. We will specifically consider what ‘sustainable real estate’ means as well as investigating contemporary ‘hot topics’.

Through the field trip and assessment process, you will be able to explore a sector of the real estate market in depth. You will research and analyse property data and present your findings using appropriate media.

 

Aims

The unit aims to:

- introduce the fundamental concepts of real estate

- explore the factors that influence the value of real estate from both the investor’s and user’s perspective

- examine the structure and operation of real estate markets in both an international and

national context

- critically analyse specific sectors of the real estate market

Syllabus

Week 1- 5th Oct       Introduction & Property Rights and Ownership & Role of Real Estate

Week 2 - 12th Oct    Occupier and asset markets

Week 3 - 19th Oct    Property Valuation

Week 4 - 26th Oct    Real Estate Performance Measurement

Week 5 - 2nd Nov     Chester Fieldtrip (physical or virtual)

Week 6 - 9th Nov      Commercial Property Market

Week 7- 16th Nov     Property Market Information

Week 8 - 23rd Nov    Chester Group Work Presentations

Week 9 - 30th Nov    Housing Market

Week 10 - 7th Dec    Real Estate Development

Week 11 - 14th Dec  Individual Report Finalisation (q/a session)

Teaching and learning methods

The course unit follows a blended learning approach where the majority of learning happens in an online environment (material distributed via the unit Blackboard page). There will be weekly seminars that are arranged both online and on-campus. There is always an online seminar whilst the on-campus workshop/seminar is subject to the government and university CoVid-19 guidelines. If on-campus seminars are possible, some weeks may have only an online seminar.

Each seminar will be connected to the independently studied asynchronous online content. There are activities and questions in the online content that will be discussed in the workshop/seminar related to that week’s content.

It is essential to come to the workshop/seminar prepared by studying the online content before the particular seminar.

There is a field trip to Chester that a student can decide to complete in a physical or virtual form. Virtual field trip option will take place certainly. The physical field trip is subject to the government and university CoVid-19 guidelines.

Knowledge and understanding

The unit aims to:

  • Introduce the fundamental concepts of real estate
  • Explore the factors that influence the value of real estate from both the investor’s and user’s perspective
  • Examine the structure and operation of real estate markets in both an international and national context
  • Critically analyse specific sectors of the real estate market 

 

Intellectual skills

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

Practical skills

  • Demonstrate observational skills through the fieldtrip and other activities
  • Carry out effective research into a market sector
  • Demonstrate numeracy skills through analysis of market data and appraisal exercises
  • Demonstrate ability to communicate ideas effectively both orally and in writing 

Transferable skills and personal qualities

  • Demonstrate ability to work effectively as part of a team and to present the group’s work using appropriate media. 

Assessment methods

Method Weight
Report 75%
Oral assessment/presentation 25%

Feedback methods

As you progress through the course unit, formative feedback will be given through Q&A, discussion and interactive activities within seminars.

Verbal feedback is available on coursework discussed during office hours. Written feedback will be provided on the group presentation. Detailed written feedback will be provided on the individual written assignment submitted through Blackboard (TurnItIn).

Consultation sessions in support of the assignment will be run detailed in the course timetable. It is also possible to discuss specific issues in relation to the course during the office hours or by email appointment.

Blackboard discussion board is available for assignment-related queries and will be actively monitored.

Recommended reading

Dent, P., Patrick, M. and Xu, Y. (2012) Property Markets and Sustainable Behaviour Abingdon: Routledge

Haynes, B. and Nunnington, N (2010) Corporate Real Estate Asset Management Abingdon: Routledge

Isaac, D. and O’Leary, J. (2011) Property Investment 2nd ed. Basingstoke: Palgrave Macmillan

Millington A. F. (2000) An Introduction to Property Valuation (5th Edition), London: Estates Gazette

Reed, R. and Sims, S. (2014) Property Development 6th ed. Abingdon: Routledge

Yudelson, J. and Meyer, U. (2013) The World’s Greenest Buildings Abingdon: Routledge

Study hours

Scheduled activity hours
Fieldwork 8
Seminars 10
Independent study hours
Independent study 182

Teaching staff

Staff member Role
Eero Valtonen Unit coordinator

Additional notes

Preparation for the seminars (going through the provided asynchronous text and videos) 10 hours

Seminars 10 hours

Private Study (inc. directed reading/exercises)172

Field visits (physical or virtual) 8

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