This course provides a coherent introduction to the relevant economic analyses to support an understanding of the role of real estate markets within the globalisation and internationalisation context. It involves in-depth analysis of international real estate markets, research and case studies.

The course will be delivered in 3 hourly blocks, once per week, over 9 consecutive weeks.

International Real Estate Markets (URBAN5026)

None

Assessment:

The course will be formally assessed by means of a coursework report (100%). The report, a maximum of 4,000 words, will require students to either critically compare and contrast the economic, political, property specific and institutional characteristics of alternative real estate markets or undertake an in-depth examination of changes to a real estate market over time.

The aim of this course is to provide the student with a coherent introduction to the relevant economic analyses to support an understanding of the role of real estate markets within the globalisation and internationalisation context. It involves in-depth analysis and valuation of international real estate property markets and pricing models, as well as management and development of real estate portfolio. It aims, using real estate markets in individual countries as case studies, to illustrate how the complex economic, urban structure, planning and social frameworks interact to produce unique property markets with specific investment characteristics.

By the end of this course students will be able to:

■ demonstrate in-depth understand the processes of globalisation and the implications of economic integration on the international real estate markets;

■ evaluate the economic, planning, urban structure and institutional factors that influence the performance of real estate in different countries;

■ demonstrate in-depth understanding of market risks attached to investments in international real estate markets, and market efficiency in a broader institutional, economic and theoretical context and evaluate the influence of government controls and regulations;

■ critically assess and evaluate the risks attached to investments in international real estate markets, particularly political risk, systemic financial risk and economic risk;

■ critically examine portfolio theory and use the skills required to develop an international real estate portfolio;

■ evaluate the influence of technology advance and growing knowledge economy on investment decision making process;

■ critically analysis the interactions between planning, infrastructure and transport improvements and global real estate investment flows;

■ interpret and analyse the institutional factors that influence the performance of real estate in different countries;

■ comparatively analyse and evaluate real estate markets in established and emerging economies, drawing on a broad understanding of the different types and components of market risk and efficiency;

■ develop the analytical skills to enable them to undertake informed comparative analysis;

■ contribute to the debate on the modelling and analysis of property values;

■ build up spatial analysis skills of the property markets assisted with suitable analytical software; and

■ apply skills in processing information, verbal communication within a group setting, and written communication.

Students must submit at least 75% by weight of the components (including examinations) of the course's summative assessment.

Minimum requirement for award of credit for students on MSc International Real Estate & Management and MSc Real Estate is D3 or above.

Students on other qualifications then University standard regulations apply.