Real Estate Economic

The Master's Degree Programme in Real Estate Economics at Aalto University offers a comprehensive education designed to prepare students for a successful career in the dynamic and complex field of real estate markets, property development, valuation, and investment. This programme combines economic principles, financial analysis, and urban planning insights to equip students with the skills necessary to analyze, develop, and manage real estate portfolios and assets effectively. Students learn about the key factors influencing real estate markets, including macroeconomic trends, regulatory environments, and societal needs, enabling them to make informed decisions in a global context.

The curriculum includes core courses in real estate finance, market analysis, property valuation, urban economics, and sustainable development. Practical skills are emphasized through case studies, project work, and internships, providing students with real-world experience and industry connections. The programme fosters a multidisciplinary approach, integrating knowledge from economics, law, architecture, and planning to prepare graduates for diverse roles in real estate agencies, investment firms, advisory services, and public sector organizations.

Students are encouraged to develop analytical skills, strategic thinking, and ethical considerations in real estate development and investment. The programme also emphasizes sustainability and responsible management of resources, reflecting the principles of green building and urban resilience. Graduates of the programme are well-equipped to navigate the challenges of modern urban development, contribute to sustainable cities, and create value in the property sector both locally and internationally.

The Master’s Degree Programme in Real Estate Economics is designed for students with backgrounds in economics, business, architecture, engineering, or related fields who aspire to deepen their understanding of real estate markets and acquire specialized expertise. The programme is delivered with a combination of lectures, seminars, workshops, and individual or group projects, fostering a collaborative and innovative learning environment. Upon completion, graduates will have the analytical tools, industry knowledge, and ethical awareness needed to excel in a competitive global market and contribute positively to the development of sustainable urban spaces.

Real Estate Economics and Management focuses on real estate investment and business, real estate development and the management of real estate assets throughout their lifecycle. Land management focuses on the process of managing the use and development of land resources. In this specialisation the students enhance their knowledge on managing land-related rights and land policy. Please, see more information about the programme courses in the student portal Into.

The master’s thesis (30 cr) is a piece of applied research that includes not only the written thesis but also the maturity essay and seminar presentation. The key goal of the master’s thesis is solving a problem relevant to the field of study based on existing scientific knowledge in compliance with the principles of responsible conduct of research. The master's thesis shall be written on a topic related to the advanced studies of the degree programme, agreed upon between the student and the supervising professor. A suitable topic can, for instance, be a research and development project carried out for a partner outside the university, or it can be connected to an ongoing research project of the university. The master’s thesis takes 6 months (fulltime) and it is an individual project.

The selection process is paper-based and competitive. Applications that pass the eligibility check of Aalto University Admissions Services (administrative evaluation) proceed to the School's programme specific academic evaluation. The following academic evaluation criteria applies:

•              Degree and institution of higher education

•              Relevancy of studies

•              Academic performance

•              Motivation 

Academic evaluation is split into two phases:

−              In the first phase, the applicant’s degree that is used as grounds for the application and the related institution of higher education are evaluated. For the Land Management specialization, students with prior degree related to land management and real estate are preferred. For the specialization in Real Estate Economics and Management, priority is given to students whose earlier studies (either Bachelor's degree or other studies a) are on real estate or b) include at least the basics of economics, law, statistics/econometrics and finance.

The applicant’s academic performance is evaluated, while any of the applicant’s other education that is attached to the application may also be evaluated. Criteria used to evaluate academic performance may include the time taken to complete the degree as well as the date of the degree’s completion.

−              In the second phase, the acceptable applicants are ranked. A number of eligible applicants no greater than the allotted quota are admitted based on the academic evaluation. The most important criteria are the applicability of previous studies and academic performance in studies relevant to the study option. The aim is to admit only those applicants who have the required competence to begin Master's studies without any supplementary studies.

The financing studies for the Real Estate Economic program at Aalto University are designed to provide students with comprehensive knowledge about the financial aspects of real estate markets, investment analysis, and economic decision-making. The program emphasizes understanding funding sources, financing instruments, and financial risk management in the context of real estate development and investment. Students gain skills in evaluating financial feasibility, calculating return on investment, and understanding valuation methods, which are essential for careers in real estate finance, investment banking, and property development firms. The curriculum includes courses covering financial markets, real estate finance, and property economics, often integrated with practical exercises such as case studies and project work. Funding for the program itself is usually available through various channels, including student stipends, scholarships, grants, and potential student loans. International students may also explore financial aid options specific to their home country or permit processes. Aalto University participates in national and EU-funded research projects and collaborations, which can occasionally provide additional financial support or research funding opportunities for students engaged in specific projects. The university’s strong links with industry and real estate sector companies help facilitate internships and employment opportunities that contribute to students’ financial stability during their studies. Overall, financing studies at Aalto University prepare students for managing financial challenges in real estate investments and enable them to understand the economic principles vital to sustainable property management and development.

The Master’s Degree Programme in Real Estate Economics at Aalto University offers a comprehensive education aimed at preparing students for the complex and dynamic field of real estate. The program is designed to equip students with a multidisciplinary understanding of real estate markets, property valuation, urban development, investment analysis, and property management. It emphasizes both theoretical knowledge and practical skills to enable graduates to operate effectively in various sectors of the real estate industry, including consulting, investment, development, and public policy.

The curriculum integrates courses in economics, finance, law, and urban planning, providing students with a holistic perspective on how real estate markets function within broader economic and societal contexts. Students learn to analyze market trends, assess financial viability, and evaluate legal implications related to property transactions and development projects. In addition, the program offers opportunities for practical training through case studies, internships, and project work, fostering hands-on experience and professional networking.

The program is conducted in English, attracting international students and fostering a multicultural learning environment. It typically spans two years, with students engaging in coursework during the first year and graduating with a master’s thesis that demonstrates their ability to apply their knowledge to real-world challenges. The faculty comprises experienced researchers and industry professionals who contribute to a dynamic academic environment.

Graduates of the Real Estate Economics program at Aalto University are well-prepared for careers in real estate development, investment banking, consultancy, municipal planning, and academic research. The program’s strong connections with the industry and access to Helsinki’s vibrant real estate market provide valuable opportunities for internships and employment. Overall, the program emphasizes sustainable development and responsible management of urban environments, aligning with contemporary trends and societal needs in real estate.

This program reflects Aalto University’s commitment to interdisciplinary education, innovation, and sustainable development, offering students the tools necessary to become expertise leaders in the future of urban and real estate development.