Course description
The Real Estate Finance and Investment Group (REFIG) is based within the finance faculty at Cass Business School, one of the largest and strongest finance faculties in Europe. The academic staff in REFIG include experts in real estate investment, real estate finance modelling and forecasting and PFI, as well as in the traditional and important areas of real estate valuation and management. They are complemented by other finance and investment experts from Cass Business School, lawyers from City University Law Department and leading practitioners at the interface of theory and practice.
The MA in Property Valuation and Law is designed to provide those with a first degree (or other approved qualification) in a non-property subject with the technical skills necessary to enter and succeed in the real estate business. Although some background knowledge in one or more of the fields studied in the course (for example, economics, law, geography, mathematics and computing, or business studies) is helpful, it is not essential.
In addition to a comprehensive coverage of property law, the course provides an in-depth examination of evaluation and appraisal techniques, both generally and specifically related to development and investment. It also provides an introduction to business techniques, which are helpful to a property professional.
Course Content - Ahead of the game
We review all our courses regularly to keep them up-to-date on issues of both theory and practice. Therefore, there may be some change to the detailed content of the modules and occasionally to module titles.
To satisfy the requirements of the degree programme students must complete:
* Eight core courses
* Three electives
* Business Research Project
Two Induction Weeks The MA in Property Valuation & Law course starts with two compulsory induction weeks, focused on:
* an introduction to careers in property and real estate and the opportunity to speak to representatives from over 75 companies during a number of different industry specific fairs.
* an introduction to basic financial mathematics, computing and electronic databases.
* Term 1
Five core modules
Introduction to Property Law
Provides a general introduction to, and basic understanding of, the English legal system, land law, and the core principles of contract and tort law. The subject stimulates an awareness of the legal, practical and professional issues affecting property.
Quantitative Techniques in Investment
Introduces basic investment mathematics and statistical techniques used in valuation. There is a strong emphasis on the application of these techniques in a computer-based environment. This module also explains the framework and the structure of the capital markets to enable students to appreciate the place of property in investment markets.
Real Estate Investment Analysis and Development Appraisal
Examines appraisal techniques and their application to property investment The module focuses on discounted cash flow appraisal techniques applied to property; models for property investment analysis and the treatment of risk, growth and depreciation, in a computer-based environment. The course also looks at the investment and finance field through the development and redevelopment process, including feasibility studies. This includes consideration of the finance mechanisms involved and the participants contributing to property investment.
Property Valuation
Introduces valuation procedures appropriate to a variety of property types and considers the main conventional methods of valuation, explaining the investment approach in some depth. The module also examines valuation approaches necessary for statutory purposes, including those affected by landlord and tenant, planning and compulsory purchase legislation.
* Term 2
Four core modules
Corporate Finance
Provides a thorough understanding of the key factors affecting the valuation of a company; the financing of new ventures through initial and seasoned equity offerings; the choice between various forms of short and long-term financing and the interaction between corporates and capital markets.
Landlord and Tenant Law
Provides a sound knowledge of legislation and case law affecting the commercial property market in order to enable students to apply the legislation when undertaking valuations and appraisals of such premises.
Planning Law
Introduces the legislative and administrative background against which decisions affecting land use are taken. It is a core area for professionals involved in land transactions and examines the statutory provisions for the control of land use within the UK, together with an appreciation of the way in which the system is administered.
Valuation II
Examines the statutory aspects of appraisal. Rating law and procedures, and taxation, particularly capital gains and value added tax, are also studied in depth.
* Term 3
Three electives and a Business Research Project
Electives
You may choose from a wide variety of electives. For example:
* Building, Project Management and Procurement
* Real Estate Development
* Work Space Planning and Real Estate Procurement
* Real Estate Market Analysis
* European Real Estate Appraisal
* European Real Estate Markets
Research Methods module
This compulsory module trains students to undertake independent research either in the context of a single organisation or by using third-party sources. It provides the necessary tools and skills to initiate, research and write up a business project and includes training in research methodology, availability of data sources, project writing, time-management and presentation skills. These skills will be invaluable to students in their future career as well as when they are completing their Business research Project.
