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Real Estate Investment Finance

MSc / PGDip

School of the Built Environment

The distance learning Real Estate Investment Finance (REIF) programme has been designed for real estate professionals across all sectors, as well as fund managers and investment bankers, who would like to develop their understanding of real estate as a financial asset in an investment portfolio.

The REIF programme is designed to give students the practical skills needed to succeed, while also offering a flexible and innovative way to study from home. The programme is delivered online and is supported by our Virtual Learning Environment, as well as a series of Webinars, which give students the opportunity to virtually attend lectures led by their module leaders. Students will also take part in presentations, network, and share work/study experiences with fellow students from across the world.

This programme is also available as a Certificate for Continued Professional Development (CREIF), that has been developed in response to industry demand for a practical and applied programme that gives real estate professionals across all sectors the opportunity to gain a better understanding of the real estate investment market.

The Real Estate Investment Finance (REIF) program is accredited by the Royal Institution of Chartered Surveyors (RICS), and recognised by the Asia Association for Investors in non-listed real estate vehicles (ANREV), the Investment Property Forum (IPF) and the Asia Pacific Real Estate Association (APREA).

There is more information about the REIF programme on our Hot Property blog.

Available start dates

January 2019 / April 2019 / June 2019 / September 2019 / January 2020

Teaching location

Distance learning

Course length

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

For full application details, please see the 'How to apply / Entry requirements' section.

  • The REIF programme is delivered purely online, offering students a flexible and innovative way to study.
  • The four 'stand-alone’ core modules enable students to start the programme at any of the four entry points throughout the year. 
  • Learning is supported via a series of online webinars, video podcasts, audio recordings and virtual quizzes. The regular webinars give students the opportunity to virtually attend lectures led by module leaders, take part in presentations, as well as network and share study experiences with fellow students from across the world. Recordings of the webinars are made available as part of each module.
  • Each module is organised around six learning packages allowing students to work at their own pace and keep track of their learning.
  • The REIF programme is practically based and offers the opportunity to share knowledge and experience in real life situations.
  • REIF students are part of a strong online community with access to discussion boards and chat rooms via the university’s online learning environment, as well as designated groups on various social media platforms.

The REIF programme has been designed to be studied flexibly via distance learning (online). 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 core modules with two additional modules for the MSc REIF. Each core module has been designed around six learning packages and is a ‘stand-alone’ module to enable you to start the programme at any point.

MSc/ PG Diploma modules:

The Real Estate Investment Market

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

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

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

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

Additional MSc Modules:

Applied Research Methods

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.

Dissertation

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 available may differ from those shown here.


Approach to assessment

There are no formal exams. Each module is assessed through a combination of online tests, coursework and presentations to reflect the practical nature of the REIF programme.

 

Innovative online learning and networking opportunities

The REIF programme has been specifically tailored to enhance students' online-learning. Alongside video podcasts and discussion boards, Webinars are held across each module offering students the opportunity to attend lectures on module topics, share work and study experiences, take part in presentations and receive feedback on assignments. Recordings of the Webinars are made available to all as part of each module.

We have also set up designated groups especially for REIF students on platforms such as Facebook, LinkedIn and Whatsapp, to enable students to get to know each other and discuss their studies informally.

 

Attendance pattern

Online distance learning.

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.

Tuition fees

Home/EU - distance learning fee: 2018/19: Masters £7,500 (18 months) Diploma £5,000 (12 months). 2019/2020: Masters £8,000 (18 months) Diploma £6,500 (12 months).

International - distance learning fee: 2018/19: Masters £7,500 (18 months) Diploma £5,000 (12 months). 2019/2020: Masters £8,000 (18 months) Diploma £6,500 (12 months).

2018/19: Masters students pay £5,000 in the first year & £2,500 in the second. 2019/2020: Masters students pay £6,000 in the first year & £2,000 in the second.

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 in the 'This course in detail' window above.

Questions about fees?
Contact Student Finance on:
+44 (0)1865 483088
finance-fees@brookes.ac.uk

Funding and scholarships

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.

How to apply

There is no formal application deadline (recruitment closes when teaching capacity is reached). However, we advise applying in good advance to secure places, and allow sufficient time for applications to be reviewed.

Applicants should also factor in time to meet any offer conditions and prepare tuition funding.

For further information about this course and to find out the date of our next Virtual Open Day please contact the Programme Administrator: rec-creif@brookes.ac.uk


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.

 

 

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.

How this course helps you develop

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

How Brookes supports postgraduate students

Online Learning
The REIF programme makes extensive use of the Oxford Brookes Virtual Learning Environment (VLE) – not just as a repository for study material, but as a web-based environment. Using VLE, students can access workbooks to keep track of their learning, watch podcasts from their module leaders, undertake assessments and work collaboratively within virtual groups, as well as have the opportunity to discuss issues with Module Leaders via a range of media.

Importantly, students have the opportunity to attend Webinars throughout the programme, giving them the chance to experience lectures led by their module leaders, take part in presentations, as well as network and share work/study experiences with fellow students from across the world.

Access to a worldwide community
The programme provides an online community for students and module leaders to share knowledge and experience in real life situations. With access to discussion boards and chat rooms via VLE, as well as designated groups on Facebook, LinkedIn and Whatsapp, students are able to socialise and network with fellow students from across the world. This is continued after students have completed the programme via the REIF Alumni Group.

Support from the REIF team
The REIF team are experienced in providing a high-standard of online learning resources specifically aimed at distance-learning students and provide dedicated support throughout their programme.

Supporting your learning

From academic advisers and support co-ordinators to specialist subject librarians and other learning support staff, we want to ensure that you get the best out of your studies.

Research highlights

Members of the REIF Team: Peter Dent, Michael Patrick and Ye Xu, authored Real Estate Property Markets and Sustainable Behaviour for the Natural and Built Environment Series (Routledge 2012). 

Research areas and clusters

Many of our academic staff are involved in academic research and/or professional/commercial consultancy work. The Real Estate and Land Policy Group brings together 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. This includes research themes that cover low carbon development, sustainable real estate, corporate social responsibility and urban equity. At the same time our research addresses broader market-based fundamentals such as valuation and emerging areas of research in real estate and behavioural finance. We have a strong track record of international comparative research including developing and transition economies while at the same time maintaining established areas of expertise on local and national topics.

Dr Youngha Cho - Module Leader for Applied Research Methods and Dissertation
Youngha’s research interests lie in the following fields: housing and land policy, macro and micro analysis of housing market, housing finance and mortgage market, housing need and affordability, social and affordable housing policy and residential mobility.
She has published a number of research papers in leading academic journals such as Journal of Housing Economics, Real Estate Economics, Journal of Real Estate Finance and Economics, Applied Economics, Journal of Housing and Built Environment, and Construction Management and Economics.

Peter Dent - Programme Director responsible for the strategic direction of the REIF programme
Peter's research interests include real estate valuation methodologies for both market and non-market property assets, behavioural studies, commercial office occupier needs and corporate real estate strategies. He is also working on a sponsored project examining the integration of climate change and the built environment into real estate programmes in the UK.  He has also been involved in research projects internationally on land markets and mass appraisal of real estate for taxation purposes.

Richard Grover - Module Leader for Real Estate Investment and Finance
Richard has undertaken a number of projects on the newly emerging private land markets in Eastern Europe, particularly in Bulgaria, Romania, and Russia. These have been undertaken for a variety of clients including the World Bank, and the governments of the United Kingdom, Romania, and the Russian Federation.

Dr Emma Wragg - Module Leader for Legal and Regulatory Considerations
Emma has research and teaching interests in urban land management, infrastructure and low income housing policies in countries in the Global South.

Dr Ye Xu - REIF Subject Coordinator and and Module Leader for Applied Real Estate Valuation
Ye is a Fellow of Royal Institution of Chartered Surveyors and her research areas are in property investment, decision theory, valuation and finance.