REMB26-International Real Estate

Module Provider: Real Estate and Planning
Number of credits: 20 [10 ECTS credits]
Level:7
Terms in which taught: Spring term module
Pre-requisites:
Non-modular pre-requisites:
Co-requisites:
Modules excluded:
Current from: 2022/3

Module Convenor: Prof Eamonn D'Arcy
Email: p.e.darcy@henley.reading.ac.uk

Type of module:

Summary module description:

ThisÌýmodule is about understanding how commercial real estate markets work in an international context. It covers three distinct, but interrelated areas - topics in international market analysis - analysis of European real estate markets - introduction to global market analysis.Ìý

Aims:

The module aims to provide the student with a comprehensive understanding of the key issues in, and approaches to the analysis of commercial real estate markets in an international context. It evaluates critically the functioning and principal characteristics of commercial real estate markets, and the real estate sectors in both established and emerging markets.Ìý

Assessable learning outcomes:

The module emphasises knowledge and critical understanding of the economic principles underlying property markets and the application of market analysis to real world property problems in an international context.Ìý

Upon completion of the module, students should be able to:Ìý

• demonstrateÌýa systematic understanding of the main paradigms of property market analysis, and their respective strengths and weaknesses;ÌýcriticallyÌýassess institutional change in the property market;Ìý


• construct a critical property market analysis illustrated by appropriate event histories of market performance;Ìý


• demonstrateÌýa comprehensive understanding of the principal determinants of cross-border real estate involvements;Ìý


• demonstrateÌýa practical understanding of the principal structural differences between Europe’s major commercial real estate markets andtheir implications for market performance;Ìý


• criticallyÌýevaluate the principal drivers behind the recent performance of property markets in North America, the Asia –Pacific region, and Africa.Ìý

Additional outcomes:

The module will assist students in developing a comprehensive understanding of the determinants of property market performance at both macro and micro levels. It enhances their ability to deal with complex ‘real world’ property market issues both systematically and creatively and to make sound judgements in the absence of complete data. The module will enhance the students’ quantitative and qualitative analytical skills and contributes to the qualities and transferable skills necessary for employment.Ìý

Outline content:

The module covers three distinct, but interrelated, areas - topics in international market analysis - analysis of European real estate markets - introduction to global market analysis. The first critically reviews different approaches to market analysis. The second examines the functioning and principal characteristics of Europe's major commercial real estate markets and the European real estate sector. The analysis is supplemented by appropriate case studies of property investment and development in key European cities. The final section provides an introduction to global market analysis, and presents an overview of commercial real estate markets in North America, the Asia-Pacific region, and Africa. This overview is again supported by appropriate illustrative case studies from each region.Ìý

Global context:

The vast majority of issues addressed in this module have global relevance. In particular the first and final sections of the module contain an explicitly global perspective on real estate markets.

Brief description of teaching and learning methods:

The course will be delivered as a block release with on-line post course support. The block release will comprise lectures and an external speaker seminar in international real estate and market analysis. In addition,Ìýafter the block release element students are required to undertake a major individual written project in market analysis based on an assigned project brief. This acts as a consolidating and integrating vehicle for the taught material.Ìý

Summative assessment- Examinations:
None

Summative assessment- Coursework and in-class tests:

25% of the assessment will be on the basis of participation in the week’s presentation assignment – this includes slides and delivery of the presentationÌý(output of the assignment).Ìý

The remaining 75% will be on the basis of the applied research report based on a project brief developed by the student. Guide length 3,750 words.Ìý

Assignment Submission Deadline: Week 32

Formative assessment methods:

Penalties for late submission:

Penalties for late submission on this module are in accordance with the University policy. Please refer to page 5 of the Postgraduate Guide to Assessment for further information: http://www.reading.ac.uk/internal/exams/student/exa-guidePG.aspx

Assessment requirements for a pass:

The pass-mark for this module is 50%.Ìý

Reassessment arrangements:

Reassessment will be by the same method as for the module's original assessment requirements, subject to variation by the Examination Board where appropriate.Ìý

Additional Costs (specified where applicable):

Last updated: 22 September 2022