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Real Estate Investment Finance

MSc or PGDip

Key facts

Start dates

September 2021 / January 2022 / April 2022 / July 2022 / September 2022

Course length

Part time: 1 - 2 years for Postgraduate Diploma, 18 months - 5 years for MSc.


MSc is accredited by the Royal Institution of Chartered Surveyors (RICS). Recognised by the Investment Property Forum

  • Investment Property Forum
  • Royal Institution of Chartered Surveyors


Designed for professionals from across real estate, finance and business sectors, this course will extend your expertise of real estate as a financial asset in the investment market. 

This course is tailored to offer you a flexible and innovative way to study from home. You’ll develop and expand your knowledge of the practices that underpin the sector by studying:  

  • The Real Estate Investment Market
  • Applied Real Estate Valuation
  • Real Estate Investment and Finance
  • Legal and Regulatory Considerations.

You’ll learn by studying and applying your learning to scenarios that are rooted in real world examples and led by industry developments. You’ll be challenged to think critically and develop robust expertise that can be applied across the industry. Throughout your studies you’ll have lots of opportunities to develop your network and connect with professionals across the globe. 

The structure of the course enables you to start at any of the four entry points throughout the year. Each module is organised to allow you to work at your own pace and keep track of your learning.

Group of students working together on laptops

How to apply

Entry requirements

Specific entry requirements

MSc/PGDip REIF is open to applicants who hold a 2.1 undergraduate honours degree (or international equivalent) or above. It is also desirable to have at least two years relevant experience in the workplace.

We will actively consider applications from candidates who hold a 2.2 undergraduate honours degree (or international equivalent), who can evidence strong and relevant professional experience.

Information on entry requirements and how to apply to the CPD Certificate (CREIF) can be found here.

Applicants working in the sector, who hold suitable professional qualifications - which can demonstrate ability to study at master's level, are also welcome to apply.

Please also see the University's general entry requirements.

English language requirements

If your first language is not English you will require a minimum academic IELTS score of 6.5 overall with 6.0 in all components OR an equivalent English language qualification acceptable to the University.

Please also see the University's standard English language requirements.

International qualifications and equivalences


English requirements for visas

If you need a student visa to enter the UK you will need to meet the UK Visas and Immigration minimum language requirements as well as the University's requirements. Find out more about English language requirements.

Pathways courses for international and EU students

We offer a range of courses to help you meet the entry requirements for your postgraduate course and also familiarise you with university life in the UK.

Take a Pre-Master's course to develop your subject knowledge, study skills and academic language level in preparation for your master's course.

If you need to improve your English language, we offer pre-sessional English language courses to help you meet the English language requirements of your chosen master’s course.

Terms and Conditions of Enrolment

When you accept our offer, you agree to the Terms and Conditions of Enrolment. You should therefore read those conditions before accepting the offer.

Application process

Tuition fees

Please see the fees note
Home/EU distance learning
Masters £8,500 (18 months); Diploma £7,500 (12 months)

International distance learning
Masters £8,500 (18 months); Diploma £7,500 (12 months)

Home (UK) distance learning
Masters £9,500 (18 months); Diploma £8,000 (12 months)

International / EU distance learning
Masters £9,500 (18 months); Diploma £8,000 (12 months)

Home (UK) distance learning
Masters £9,900 (18 months); Diploma £8,650 (12 months)

International / EU distance learning
Masters £9,900 (18 months); Diploma £8,650 (12 months)

Questions about fees?

Contact Student Finance on:

Tuition fees

2020 / 21
Home/EU distance learning
Masters £8,500 (18 months); Diploma £7,500 (12 months)

International distance learning
Masters £8,500 (18 months); Diploma £7,500 (12 months)

2021 / 22
Home (UK) distance learning
Masters £9,500 (18 months); Diploma £8,000 (12 months)

International / EU distance learning
Masters £9,500 (18 months); Diploma £8,000 (12 months)

2022 / 23
Home (UK) distance learning
Masters £9,900 (18 months); Diploma £8,650 (12 months)

International / EU distance learning
Masters £9,900 (18 months); Diploma £8,650 (12 months)

Questions about fees?

Contact Student Finance on:
+44 (0)1865 483088

Fees quoted are the full price of the course.

Financial support and scholarships

For general sources of financial support, see our Fees and funding pages.

Additional costs

Please be aware that some courses will involve some additional costs that are not covered by your fees. Specific additional costs for this course, if any, are detailed below.

The published course and module descriptions were accurate when first published and remain the basis of the course, but the University has had to modify some course and module content in response to government restrictions and social distancing requirements. In the event of changes made to the government advice and social distancing rules by national or local government, the University may need to make further alterations to the published course content. Detailed information on the changes will be sent to every student on confirmation in August to ensure you have all the information before you come to Oxford Brookes.

Learning and assessment

This is a flexible, distance learning (online) course.

The CPD Certificate (CREIF) and PG Diploma can be completed within a minimum period of one year.  Or spread out to a maximum of two years.

The MSc can be completed within a minimum period of 18 months, or extended to a maximum period of five years.

The programme consists of four subject modules which are taken by CPD, PG Diploma and MSc students. There are then two additional research modules for students who are taking the MSc REIF. Each subject module has been designed around six learning packages and is a ‘stand-alone’ module so you can start the course at any point.

Male student studying with headphones in

Study modules

The modules listed below are for the master's award. For the PGDip award your module choices may be different. Please contact us for more details.

Taught modules

Compulsory modules

The Real Estate Investment Market (30 credits)

This module aims to provide an understanding of the fundamentals and principles of the real estate investment market via six learning packages:

  • Real estate assets, drivers and cycles
  • Investment strategies and models
  • Real estate lifecycles
  • Real estate sectors and risks
  • Real estate management – asset, fund and portfolio
  • Real estate stakeholders

Applied Real Estate Valuation (30 credits)

This module compares and contrasts the perspectives of real estate valuer and capital market valuation when doing a valuation of real estate via the following learning packages:

  • Valuation concepts and the appraisal process
  • Valuation standards
  • Valuation techniques
  • Valuation modelling
  • Sustainability and property valuations
  • Due diligence

Real Estate Finance and Investment (30 credits)

This module provides the framework for developing an understanding of the financial and business context in which a real estate organisation functions. The learning packages include:

  • Financial reporting and the property business
  • Sources and costs of capital
  • Investment appraisal and management of risk
  • The property market and the capital markets
  • Property-backed securities
  • Property taxation

Legal and Regulatory Considerations (30 credits)

This module brings together a number of regulatory and tax principles, as well as issues that are implicit in many of the topics covered in the other modules via the following learning packages:

  • Business legal structures
  • Property rights and land laws
  • Financial services regulatory framework
  • Regulating the raising of finance
  • Regulation of foreign investment and unlisted real estate funds
  • Corporate social responsibility and the control of money laundering and corrupt practices

Applied Research Methods (10 credits)

This module is only compulsory for students studying for the full MSc. Through the development of research skills, this module complements the overall MSc programme by providing students with the opportunity to draw on all of the core modules to inform and direct the choice of dissertation subject.

Final project

Compulsory modules

Dissertation (50 credits)

The aim of the dissertation is to enable students to carry out and write up an extended piece of research focused on their chosen area. Students are encouraged to undertake research in an area of interest to their employers where appropriate.

Please note: As our courses are reviewed regularly as part of our quality assurance framework, the modules you can choose from may vary from that shown here. The structure of the course may also mean some modules are not available to you.

Learning and teaching

The REIF programme has been specifically tailored to enhance your online-learning. Teaching methods include:

  • video podcasts
  • discussion boards
  • webinars
  • presentations.

You can share work and study experiences, take part in presentations and receive feedback on assignments. Recordings of the Webinars will be available as part of each module.

To enable you to get to know other students and discuss your studies informally, we have set up designated groups on:

  • Facebook
  • LinkedIn
  • Whatsapp.


Assessment methods used on this course

There are no formal exams. To reflect the practical nature of the REIF programme, each module is assessed with a combination of:

  • online tests
  • coursework
  • presentations.


Most of our teaching staff are involved in academic research and/or professional/commercial consultancy work.

The Real Estate and Land Policy Group includes expertise on a wide range of topics relating to the operation of land and property markets, real estate development and land and housing policy. A major part of our work is on the impact of land and housing markets/policy on broader development processes particularly for enhancing urban sustainability.

Research themes include:

  • low carbon development
  • sustainable real estate
  • corporate social responsibility
  • urban equity.

Our research addresses valuation and emerging areas of research in real estate and behavioural finance. We have a strong track record of international comparative research.. And we maintain expertise on local and national topics.

Peter Dent, Michael Patrick and Ye Xu authored ‘Real Estate Property Markets and Sustainable Behaviour for the Natural and Built Environment Series’ (Routledge 2012).

After you graduate

Career prospects

This programme has been designed for real estate professionals across all sectors, as well as fund managers and investment bankers who would like to gain a better understanding of real estate as a financial asset in an investment portfolio.

The MSc REIF is accredited by the Royal Institution of Chartered Surveyors (RICS), so after the MSc, graduates are entitled to apply for RICS graduate pathway to membership.

I now have a deeper understanding of concepts that are applied in day-to-day work. Furthermore, the course allows me to come up with certain out-of-box solutions in certain situations and to generate additional value for my clients.
Ivana Gazivoda Vucinic, REIF student

The course offers a balanced and detailed insight into real estate investment finance and will be a real advantage for me in my role as a Senior Relationship Manager having exposure to a wide range of clients and property portfolios.”
Mark Allen, REIF student

Programme Changes: On rare occasions we may need to make changes to our course programmes after they have been published on the website.

For more information, please visit our Changes to programmes page.