MSc Real Estate Investment and Finance (Flexible)
This flexible Masters programme, accredited by RICS, will give you a strong understanding of real estate investment and financing decisions.
At a glance
- Develop your career prospects in the real estate finance industry
- Start the programme from either September or February
- Delivered on a part-time block release basis
- Fully accredited by the Royal Institution of Chartered Surveyors (RICS)
- Tailor the degree according to your interests via the range of modules
- Our masters graduates secure positions at prestigious employers worldwide, earning competitive salaries. Explore our graduate outcomes.
- Locations
- Henley Whiteknights
- Subject area(s)
- Real Estate & Planning
- Duration
- 24 - 72 months depending on route taken
- Attendance
- Flexible
- Programme Director
-
Eamonn D'Arcy
Overview
The activities of real estate professionals are fundamental to our economic and social development and impact the lives of countless individuals. They contribute to the wellbeing of society through the development of places to live, work and play in, while also fostering enterprise and economic competitiveness through the creation of spaces to produce goods and services in. Through the provision of financial analysis and investment advice on the world’s largest asset class they contribute to wealth creation. Because of the potential impact of real estate on the environment they increasingly are at the forefront of debates and action on climate change and sustainability.
The principal aim of the Flexible MSc Real Estate Investment and Finance Programme is to produce an advanced learning platform for working professionals who are currently working in the real estate sector and wish to enhance their career or those who are currently working in other business sectors and wish to switch to or specialize in the commercial real estate and real estate investment & finance sector.
The programme aims to be globally relevant combining academic rigor – teaching underpinned by research – with ‘real world’ practical application and insight. The programme structure embeds a range of activities focused on the students' personal and professional development.
The programme is accredited by the Royal Institution of Chartered Surveyors (RICS) which allows graduates from the programme to progress to membership of the institution following two years of relevant professional experience and the completion of an assessment of professional competence (APC).
The teaching for all flexible programs is based on a part-time block release basis. Each module is intensively delivered over four days, usually Monday to Thursday. Students can complete all the modules between 2 to 6 years.
If you have completed the IPF - Investment Education Programme to Diploma level, you are eligible to continue to this programme. You can use the IPF entry route which will give you 100 credits towards your degree.
(Henley Masters Careers Survey 2024)
(Henley Masters Careers Survey 2024)
Timetables and FAQs
Real Estate & Planning
Our School is the largest in the UK for teaching and research in real estate and planning. Established in 1968 at the University of Reading, we are the only major UK real estate and planning centre to be located within a business school. Being part of the Henley Business School reflects our close and longstanding collaborative relationship with industry.
We enjoy a worldwide reputation for excellence in both teaching and research and we are consistently highly ranked in all major league tables. We undertake internationally recognised, leading edge research into real estate, planning and land. We offer a comprehensive range of courses, all of which are accredited by the Royal Institution of Chartered Surveyors (RICS).
Our programmes are held in high regard by leading employers. Many of whom come to us each year to recruit our graduates. We are proud of our outstanding employment record. More than 95% of our students enter graduate-level jobs within 6-months of leaving us.
Graduate success
Real Estate graduates 2023: where are they now?
The School of Real Estate & Planning has a worldwide reputation and a long history of providing postgraduate education in real estate that open up many options for employment in the real estate industry around the world.
Graduates are regularly employed by the largest and most prestigious global real estate service firms and wider real estate sector.
(Henley Masters Careers Survey 2024)
(Henley Masters Careers Survey 2024)
(Class of 2023 careers outcomes)
(Class of 2023 careers outcomes)
Real Estate and Planning Masters graduates are employed at prestigious organisations, including:
- JLL
- Knight Frank
- CBRE
- Cushman & Wakefield
- Savills
*The statistics on this webpage relating to careers and employment were obtained from the responses Real Estate graduates who completed the Henley Masters Career Outcomes survey 12 months after their graduation, in Autumn 2024.
Careers, accreditation & progression
Employment requirement
You must be in relevant employment in order to undertake the programme. Your career prospects will be enhanced by the skills and knowledge gained on each of the modules. You will also benefit from the networking opportunities with fellow real estate professionals in the various modules.
Built-in employability and dedicated careers support
Support offered includes:
- Extensive bespoke careers support is provided, including an industry-led mock assessment day.
- Individually-assigned an industry mentor through the mentoring scheme of our alumni association – the Reading Real Estate Foundation (RREF).
- Career development and recruitment events for real estate students throughout the year.
- Evening lectures series with key industry speakers and an annual Careers Fair.
- A professional Careers Development Advisor, Jane Batchelor, who helps our students with every aspect of the career development process, including identifying work placement, internships and permanent career opportunities.
Become part of our community of successful graduates
On graduation our students are employed by the largest and most prestigious firms including global:
- Real Estate Service Firms
- Investment Banks
- Institutional Investors and Investment Funds
- Consultancy Firms
- Investment and Development Companies
Accreditation
The programme is accredited within the University of Reading – Royal Institution of Chartered Surveyors (RICS) partnership arrangement.
Receive dedicated support from our award-winning careers team
We have an award-winning careers team that will support you through your postgraduate studies and four years after graduation.
Here is how Henley Careers can help you:
Careers Consultant appointments
Our Careers Consultant are here to help and support you with any careers related concern that you might have. Whether it’s CV advice, practicing for an interview, providing feedback if applications aren't successful or support planning your career goals. We are here to help empower you to progress in your career.
Events
Henley Careers organise numerous events aimed to help you build your confidence, develop the skills employers are looking for. Additionally, network with employers and expand your industry knowledge.
Alumni support
You can continue to book one-to-one appointments with your Careers Consultant and use our online resources. For up to four years after graduating we’re here to help and support in your career.
Career Smart
Get a head start in securing a graduate job by taking part in our online course, Career Smart. You can expect to learn about the graduate recruitment cycle in the UK. As well as where to look and how to start applying to jobs, and the different roles available to you.
For more information please see our Careers page.
How we teach you
Similar to corporate training methods, our flexible courses are based around relatively short periods of intensive study which are then reinforced by your experience in practice and web-based learning materials. You will attend the University for short blocks of study when there are opportunities to experience a range of learning methods. Each module runs for 4 days and is held from Monday to Thursday.
You are encouraged to contribute your own knowledge and experience in order to extend the learning opportunities. The flexibility of the courses means that there are no stages or parts to the degree. You work towards the Masters qualification by fulfilling requirements for 180 credits. There is also the possibility of gaining a Postgraduate Certificate (60 credits) or Postgraduate Diploma (120 credits). It is also possible to take individual modules as part of a Continuing Professional Development programme.
Our courses are designed and delivered by internationally-renowned experts, with a wealth of academic and professional experience. All of our courses are regularly updated to maintain their relevance in a rapidly changing industry.
Master the Language of Business: Your Competitive Edge at Henley
Success in business isn’t just about practical skills but also how you communicate your ideas, influence others, and collaborate across cultures. That’s why, as a Henley Master’s student, you have the exclusive opportunity to join our Effective Communication: Language Skills for Business module, designed to boost your confidence and fluency in English for academic, professional, and networking success.
This free, non-credit-bearing course runs in parallel with your studies and is delivered by Henley Business School in partnership with the International Study and Language Institute (ISLI) at the University of Reading. It is part of a series of innovations at Henley designed to support your academic and professional development, ensuring you graduate with the skills to succeed in a global business environment.
The course is designed to help you:
- Express yourself clearly and persuasively in seminars, presentations, and discussions.
- Write with impact, from emails and reports to case studies and reflections.
- Master the language of business, learning industry-specific terminology and communication styles.
- Boost your employability with key professional communication skills, from networking to interview preparation.
Who Can Join?
- Students who meet the selection criteria based on their English level will be invited to take part.
- Any other student who wishes to enhance their communication skills can voluntarily join, ensuring everyone has access to this career-boosting opportunity!
Taught in an interactive, business-focused format, this module integrates real-world business scenarios, digital tools, and personalised feedback to help you thrive at Henley and beyond.
Course structure
Students are required to complete 180 credits within the 6 year registration period. This will comprise of four, 20 credit core modules along with either five, 20 credit optional modules or three, 20 credit optional modules plus the 40 credit optional dissertation module.
Real Estate Portfolio Management (REMB22)
20 [10 ECTS credits]
Corporate Finance (REMB31)
20 [10 ECTS credits]This module presents concepts of real estate finance, both theoretically and empirically. It can be seen as a course in corporate finance (funding and valuation) applied to real estate topics. It is particularly relevant for investment appraisal because it presents models to determine the discount rate in real estate investment decisions and it reconciles types of cash flows and discount rates to obtain investment values.
Real Estate Development (REMB16)
20 [10 ECTS credits]This module provides a course of study that focuses on the property development process. The module aims to provide students with an understanding of:
- different perspectives on the real estate development process;
- the activities, participants, events, relationships, skills and tasks involved in the real estate development process; and
- a technique for the financial appraisal of development projects.
International Real Estate (REMB26)
20 [10 ECTS credits]Real Estate Funding (REMB38)
20 [10 ECTS credits]The module will present and analyse several sources of funding and their pricing. The process of raising equity for private real estate investment will be introduced and examined. As far as debt funding is concerned, alongside traditional methods (e.g. private lending and mortgages), the module will review structured products and hybrid forms of financing. Particular emphasis will be given to the implications of different funding structures on returns that are achieved or are achievable by equity investors.
Real Estate Asset Management (REMB41)
20 [10 ECTS credits]This is an option module that explores both practical and strategic aspects of real estate management for commercial property, focussing on asset and property management. It is considered from the perspective of both corporate occupiers (who may be tenants or owners/occupiers) and investors. Underpinning the module is the application of key business and management concepts to real estate asset management.
Real Estate Investment Appraisal (REMB05)
20 [10 ECTS credits]This module develops the theory and practice of appraisal for individual property investments, mainly in the context of the commercial and industrial real estate investment markets. It will consider different bases of value, different approaches to appraisal, required returns, yields, how cash flow is generated and how property investment relates to other asset markets.
Real Estate Securities (REMB19)
20 [10 ECTS credits]This module aims to provide students with knowledge of market structures and the pricing of financial products available for indirect investments in real estate, in order to develop a critical understanding of the different features of real estate securities. It challenges the implications that specific characteristics of private real estate assets have on the pricing of such securities.
Real Estate Valuation (REMB10)
20 [10 ECTS credits]This module builds on the REMB05 Real Estate Investment and Appraisal module and studies the market valuation process; as distinct from the wider appraisal process. It examines both the valuation process and valuation methods,andas well as preparing students for the workplace, it critically examines property valuation practice at both a theoretical and applied level.
Real Estate Economics (REMB27)
20 [10 ECTS credits]This module covers the economic principles underlying urban economics, planning economics, commercial market and residential market.
The module aims to build a solid foundation in the economics of property market to provide an insight into the application of economic principles and models to land use, city growth, planning and property market.
Residential Real Estate and Policy (REMB35)
20 [10 ECTS credits]This module will provide students with an awareness of the economic principles that underpin residential property markets and relevant government policies.
Housing has always been a fundamental basis for human life. Recently though, it has also grown to become the world’s largest asset class, powered by three decades of rapid global house price inflation. What happens in housing markets therefore affects almost everything; from financial market stability, to wealth inequalities; from national productivity, to rates of child birth.
Real Estate Law (REMB36)
20 [10 ECTS credits]This module is designed to help students develop a conceptual and practical understanding of the legal environment in which real estate operates in England and Wales.
Students will gain a systematic appreciation of the legal framework governing the rights and obligations which attach to owners and occupiers of real property.
Students will explore the key issues of ownership, transfer, use and enjoyment of freehold and leasehold land relevant to a real estate professional, in their practical and commercial contexts.
Modules or course content marked as optional are indicative and may be subject to change. Please note, constraints in timetable scheduling may mean you are unable to take some optional modules at the same time as others.
Fees & funding
The fees are currently:
| Academic year | Fees |
|---|---|
| 2025/26 | £2,300 per 20 credit module |
Current scholarships
Entry requirements
| Entry requirements |
|---|
| An upper second-class honours degree from a UK university, or the equivalent from an internationally recognised university |
| You should normally be in relevant graduate level employment |
| If your first language is not English, you are required to provide evidence of proficiency |
How to apply
Apply online
The quickest and easiest way to apply for Postgraduate study at Henley Business School, at the University of Reading is through the University’s online application service.
This allows you to complete your application information, attach electronic copies of your academic transcripts, certificates and other supporting information and also provides a facility for an email request to be sent to your referees enabling them to send your supporting references directly to us.
Apply online now using the University of Reading's online application system.
Applying by post
If you are unable to apply online you can request a paper application form by telephoning +44(0) 118 378 5289 or writing to the Admissions Office, University of Reading, Miller Building, Whiteknights, Reading, RG6 6AB, UK.
When to apply
| Entry | Deadline |
|---|---|
| September | 31 July |
| February | 31 December |
After you apply
You will receive a confirmation email when we receive your application form. Your application is then reviewed by a member of academic staff. Successful applicants will be notified by email in the first instance, and once a start date has been agreed, you will receive a formal offer letter outlining any necessary entry criteria you will need to meet, and you will be asked to confirm your acceptance of this offer.
Throughout the admissions process we will keep you updated with key information via email.
Chat to our students
Our students and alumni are always keen to share their Henley experience. Whether you are a prospective applicant or already applied to a Masters programme at Henley Business School. You can ask questions to a current student by clicking the “Chat to our students” button below.
When contacting one of our students, please introduce yourself and the Masters programme you have applied for.
Speak to a current student
Contact us
If you have any questions, please contact us by email at postgraduate@henley.ac.uk or by phone on +44 (0)118 378 7593.