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.

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

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

Week 2 - 1    Occupier and asset markets

Week 3 -    Property Valuation

Week 4 -     Real Estate Performance Measurement

Week 5 -    Chester Fieldtrip (physical or virtual)

Week 6 -      Commercial Property Market

Week 7-      Property Market Information

Week 8 -    Chester Group Work Presentations

Week 9 -     Housing Market

Week 10 -    Real Estate Development

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

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.

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 

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

• 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 

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

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.

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

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