MPRE Planning and Real Estate with Professional Placement / Course details

This unit will introduce students to the fundamental concepts of real estate and the basics of the real estate market. In this unit, 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?
- explore 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
- consider real estate in both an international and national context
- 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
- examine the function of real estate development and management within the property life cycle
- consider what ‘sustainable real estate’ means
- investigate contemporary ‘hot topics’ in the real estate field
- research and analyse property data and present your findings using appropriate media.

The unit aims to:
- introduce students to the fundamental concepts of real estate and the basics of the real estate market
- provide the foundation for more advanced units with a real estate focus to be studied later
- inspire students to start observing their daily environment from a real estate perspective
- support students to develop skills in analysing secondary qualitative and quantitative data related to real estate
- support students to develop analytical and critical thinking and problem-solving skills of students
- support students to develop professional presentation and report writing skills of students

Students should be able to: 

The unit will involve a series of structured lectures and workshops. The lectures introduce students to different topics relevant to the ILOs. Students are expected to learn more Independently studying some essential reading and recommended further reading related to the lectures. Students will utilise the learned content in the workshops that feed into the completion of the formative and summative assessment including specific workshops related to professional presentation preparation, professional report writing and use of important real estate data sources. There will also be an optional self-directed walking tour in Manchester that can be completed physically or virtually.

Course materials, such as the course guide, separate assessment brief, and lecture PowerPoint slides, will be made available online through VLE. The lectures will be recorded and available as podcasts on the University Video Portal. Students can discuss online with the course staff and fellow students on the VLE.

Explain the fundamental concepts of real estate
Distinguish the factors that influence the value of real estate from both the investor’s and user’s perspective
Analyse the structure and operation of real estate markets

Infer considered conclusions from the analysis and appraisal of real estate market information
Solve problems related to real estate

Examine the urban environment from the perspective of real estate 
Analyse and appraise real estate market information
 

Analyse and appraise qualitative and quantitative secondary data
Communicate ideas via professional reports

Individual assignment: Professional report on the real estate market 2,500 words (100%) 

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

Written feedback on the assignment will be provided through VLE within 15 working days of submission. Verbal feedback is available during office hours.

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.

Baum, A.E. (2023). Real estate investment: a strategic approach. 4th ed. Abingdon, Oxon: Routledge.

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

Dunse, N. and Jones, C. (1998). A hedonic price model of office rents. Journal of property investment & finance, 16(3), pp.297-312.

Haynes, B., Nunnington, N. and Eccles, T. (2017). Corporate Real Estate Asset Management: Strategy and Implementation. 2nd ed. London: Routledge.

Jowsey, Ernie. (2014). Real Estate Concepts : A Handbook. London: Taylor and Francis.

Millington, A. (2000). An Introduction to Property Valuation. Abingdon: Estates Gazette.

Nase, I., Berry, J. and Adair, A. (2013). Hedonic modelling of high street retail properties: a quality design perspective. Journal of property investment & finance, 31(2), pp.160–178.

Nijskens, R., Lohuis, M., Hilbers, P., Heeringa, W. (2019). Hot property: the housing market in major cities. Cham, Switzerland: Springer.

Pirounakis, N.G. (2013). Real estate economics : a point-to-point handbook. New York: Routledge.

Reed, R. (2021). Property development. 7th ed. Abingdon: Routledge.

Yudelson, J. and Meyer, U. (2013) The World's Greenest Buildings Promise Versus Performance in Sustainable Design. 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