Real Estate and Planning

Advertisement

The programme is designed to build understanding of the complex interactions and uncertainties of the development process. It provides students with the essential knowledge components of economics, valuation, planning, law, and regeneration and sustainability principles. It also develops an appreciation of the skills and tasks inherent in development projects, including community participation, satisfying the statutory planning considerations, undertaking the necessary financial appraisals, and achieving funding to make it happen.

Our students and graduates

This programme is suitable for graduates with an interest in pursuing a career either as a chartered development surveyor or as a planner with a specialism in land and property markets. Such opportunities are available in a range of employers in the private and public sector, including local development and regeneration agencies.

On completion of this programme graduates will be able to have a comprehensive and integrated understanding of the property market context and the nature and theory of spatial planning and sustainable development.

Part-time and Distance Learning study options

This programme can be studied on a part-time basis or via Independent Distance Learning (IDL), ideal for those in employment or with other commitments, providing flexible study options that fit around work or family. As an IDL student you will not be required to attend any lectures, tutorials or other events at any of Heriot-Watt Universitys campuses.

Semester 1

Spatial Planning

Sustainable Design and Development

Real Estate Appraisal and Valuation 1

Real Estate Economics

Semester 2

Strategic Spatial Vision Project

Governance Participation and Community Planning

Real Estate Investment Analysis

Real Estate Development

Spatial Planning

Semester 1 (mandatory)

Edinburgh campus only

This course aims to help students to develop a critical understanding of: spatial planning agendas; sectoral and spatial policy frameworks at national, strategic and local levels; legal and ethical frameworks; implementation mechanisms; development management issues; relationships between land and property and planning, including development rights and property rights. The syllabus includes the following subjects:

Reasons for planning; Development Planning; Urbanisation and Urban development; Development and property rights; Development Management; Environmental Assessment; Conservation and Globalisation and urban transitions.

Sustainable Design and Development

Semester 1 (mandatory)

This course aims to help students develop a critical understanding of the complexity of urban and housing design and development, including the importance of people and process. The course will help students gain professional knowledge about urban design principles and practice, including sustainability issues. Subjects in the syllabus include:

Introduction to urban design and housing quality; Critical understanding of the development process including stages in the development process and appreciation of different stakeholder perspectives; Sustainable design, housing quality, place identity and character; Climate, aspect, safety, planting, management; Conservation areas and listed buildings; Market and needs analysis; Developers budget, cashflow and financial appraisal; Risk analysis.

Real Estate Appraisal and Valuation 1

Semester 1 (mandatory)

This course aims to establish the economic context for the creation of value, introduce the principles for the assessment of value in property markets, develop a clear understanding of the valuation process and appropriately apply the principal valuation methods (conventional and contemporary) to a range of property types and interests. Subjects covered by the syllabus include:

Economic context of the property market; The property professions: their role, ethical conduct and regulatory framework; Definitions of price, value and investment value (worth); Introduction to the principal techniques of property valuation; Valuation and appraisal mathematics: Present and Future Value, DCF, NPV and IRR; The valuation process; Analysis of market evidence and measurement practice.

Real Estate Economics

Semester 1 (mandatory)

This course aims to introduce students to an economic analysis of real estate markets. The course will help students to understand land and property markets from an economic perspective; to examine land and property as a set of linked markets and to consider regulatory constraints on real estate in economic terms including planning. The syllabus includes:

Introduction to key topics in economics microeconomic demand and supply analysis, Elasticities, the macroeconomy; the economics of property market analysis: use, investment and development. The institutional context. Local, regional, national and global perspectives. Real estate cycles by sector. Property versus other asset classes; Analysis of property sectors (housing, offices, retail, industrial). Spatial economic analysis; Economic basis of planning, planning in a market economy. Economic analysis of planning policy, interaction of real estate and the macroeconomy.

Strategic Spatial Vision Project

Semester 2 (mandatory)

This course aims to develop advanced understanding of, and skills in, the preparation and evaluation of spatial visions and strategies and to develop competence in the professional skills of analysis, evaluation and prescription of policy in an urban context. Subjects covered by the syllabus include:

The meaning and scope of spatial visions, including their aims and rationale; The core principles in relation to the form and content of spatial visions; The notion of the city region as a locus for spatial visions; The national and international policy context for spatial visions at city region level; The relationship between housing markets, local economies, the role of town centres, and transport and accessibility issues, with respect to spatial visions and strategies at city region level.

Governance, Participation and Community Planning

Semester 2 (mandatory)

This course aims to develop critical knowledge and understanding of contemporary governance and community planning and the advantages of user participation in the development and delivery of services. Topics covered by the syllabus include:

Contemporary governance issues; participation and planning/housing; community planning and local community engagement; service provision and stakeholder involvement.

Real Estate Investment Analysis

Semester 2 (mandatory)

This course aims to enable learners to develop an in-depth understanding of property as an investment medium and the application of investment and finance theories to both the general investment markets and the property market. The syllabus consists of the following topics:

Investment theory and the investment decision; the nature of risk and return; the characteristics of property as an investment; the role of property in the multi-asset portfolio; the application of modern portfolio theory; introduction to international real estate portfolio analysis performance monitoring; the emergence of new financial products in the property sector, and market efficiency and the cause of mis-pricing, real estate derivatives.

Real Estate Development

Semester 2 (mandatory)

This course aims to achieve an understanding of the structure and functioning of the contemporary real estate market and of the factors influencing the development decision. Subjects covered by the syllabus include:The real estate market and the property development industry; The factors influencing the development decision; The techniques of development appraisal including cashflow techniques and risk analysis; The nature of planning agreements and their impact on development appraisal; The general form and content of real estate development and investment finance; The form and content of real estate partnerships including appraisal and financing aspects.

For MSc level entry applicants must have:Minimum of 2:2 honours degree or equivalent academic qualification in cognate and semi-cognate subject area. For PG conversion programmes, non-cognate degrees will be considered. Corporate (or chartered) membership of relevant professional institutions will also be considered.For PG Diploma level entry applicants must have:Third class honours degree in a cognate or semi-cognate subject area PLUS 2 years of relevant experience at an appropriate level completed post qualification.Cognate or semi-cognate ordinary degree PLUS 3-4 years of relevant experience at an appropriate level following graduation.Candidates who do not meet the above entry requirements or have no formal academic qualifications will be considered individually based on their CV and interview. Admission via this route will be at the discretion of the Director of Admissions and the number of successful applicants will be restricted. English Language Requirements IELTS band: 6.5 IMPORTANT NOTE: Since April 2014 the ETS tests (including TOEFL and TOEIC) are no longer accepted for Tier 4 visa applications to the United Kingdom. The university might still accept these tests to admit you to the university, but if you require a Tier 4 visa to enter the UK and begin your degree programme, these tests will not be sufficient to obtain your Visa. The IELTS test is most widely accepted by universities and is also accepted for Tier 4 visas to the UK- learn more.

Scholarships & bursaries

Alumni Scholarship Scheme

Heriot-Watt Alumni

Carnegie-Cameron Taught Postgraduate Bursaries

Applicants must be Scottish by birth, have at least one parent born in Scotland or have been continuously resident in Scotland for a period of three years for the purpose of secondary or tertiary education.

Commonwealth Scholarship and Fellowship Plan

International (Commonwealth citizens)

Department for International Development (DFID) Commonwealth Shared Scholarship Scheme(SBE)

International (Commonwealth citizens)

Department for International Development (DFID) Commonwealth Shared Scholarship Scheme

Commonwealth citizens

East Lothian Educational Trust

Applicants must be a resident of the old county of East Lothian (ie excluding Musselburgh, Wallyford and Whitecraig.)

India Scholarship(SBE)

Students who have applied via the Heriot-Watt India office. Please note that this award is available for study at our Edinburgh campus only.

Leverhulme Trade Charities Trust

Restricted to residents of the UK who are a son, daughter, spouse, widow or widower of a commercial traveller, chemist or grocer.

Local Education Authority Awards

Various

Mexican Scholarships

Mexican applicants

Music Scholarships

All students

Part-time Fee Grant (SAAS)

See SAAS residence conditions.

Postgraduate Student Allowance Scheme (SAAS)

EU and UK applicants who meet the SAAS criteria on eligible courses

Remission of Fees (families of staff)

Spouses/civil partners and children of members of staff, also retired members of staff of the University

Royal Caledonian Schools Trust

Applicants must be of Scots parentage (conditions apply - see below)

SFC Key Skills Funded Places (SBE)(SBE)

Applicants resident in Scotland who accept an offer for an eligible Programme

Scotland's Saltire Scholarships

Citizens of Canada, the People's Republic of China, India or USA (2 awards for each country)

Sports Scholarships

All students

Staff Scholarships

Employees of Heriot-Watt University

The Consumer Affairs UK Scholarship Programme

All currently enrolled students

West Lothian Educational Trust

Individuals must have originated in West Lothian or have lived there for the last 3 years.

Accreditation

Professional recognition

Heriot-Watts School of the Built Environment is a leading education centre for planning and surveyor professionals in the UK. The MSc has full recognition from the educational requirements of the Royal Town Planning Institute and has professional accreditation from the Royal Institution of Chartered Surveyors (RICS).