REMF65: International Real Estate

Module code: REMF65

Module provider: Real Estate and Planning; Henley Business School

Credits: 20

Level: 7

When you'll be taught: Semester 2

Module convenor: Professor Eamonn D'Arcy, email: p.e.darcy@henley.reading.ac.uk

Pre-requisite module(s):

Co-requisite module(s):

Pre-requisite or Co-requisite module(s):

Module(s) excluded:

Placement information: NA

Academic year: 2024/5

Available to visiting students: No

Talis reading list: No

Last updated: 19 November 2024

Overview

Module aims and purpose

The module 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. 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 critically evaluates the functioning and principal characteristics of commercial real estate markets, key global players and the real estate sectors in both established and emerging markets.

Module learning outcomes

By the end of the module, it is expected that students will be able to:

• demonstrate a systematic understanding of the principal primary forces redefining real estate markets on a global basis;
• critically assess institutional change in the commercial real estate market and construct a systematic property market analysis supported by appropriate illustrative case studies;
• demonstrate a practical understanding of the principal structural differences between major commercial real estate markets and their implications for market performance;
• critically evaluate the principal drivers behind the recent performance of a range of commercial real estate markets and cross-border real estate involvements.

Module content

The module covers three distinct, but interrelated, areas - topics in international market analysis – the analysis of European real estate markets - introduction to global market analysis. The first area critically reviews the primary forces redefining real estate markets on a global basis. In particular it focuses on the drivers of institutional change in real estate markets such as the internationalisation of real estate involvements, the changing sophistication of real estate asset markets and the impact of global megatrends such as technology on real estate sectors and markets. It also provides an analysis of the emergence of global players in both real estate investment management and service delivery. 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, Asia-Pacific and Africa. This overview is again supported by appropriate illustrative case studies from each region.

Structure

Teaching and learning methods

The module will comprise of lectures and seminars. In the case of the latter some of seminars will be taken by visiting speakers from the real estate sector. In addition both in-person and online coaching sessions will be provided to support students with the modules assignments.

Study hours

At least 30 hours of scheduled teaching and learning activities will be delivered in person, with the remaining hours for scheduled and self-scheduled teaching and learning activities delivered either in person or online. You will receive further details about how these hours will be delivered before the start of the module.

Please note the independent study hours above are notional numbers of hours; each student will approach studying in different ways. We would advise you to reflect on your learning and the number of hours you are allocating to these tasks.

Semester 1 The hours in this column may include hours during the Christmas holiday period.

Semester 2 The hours in this column may include hours during the Easter holiday period.

Summer The hours in this column will take place during the summer holidays and may be at the start and/or end of the module.

Assessment

Requirements for a pass

Students need to achieve an overall module mark of 50% to pass this module.

Summative assessment

Penalties for late submission of summative assessment

The Support Centres will apply the following penalties for work submitted late:

Assessments with numerical marks

• where the piece of work is submitted after the original deadline (or any formally agreed extension to the deadline): 10% of the total marks available for that piece of work will be deducted from the mark for each working day (or part thereof) following the deadline up to a total of three working days;
• the mark awarded due to the imposition of the penalty shall not fall below the threshold pass mark, namely 40% in the case of modules at Levels 4-6 (i.e. undergraduate modules for Parts 1-3) and 50% in the case of Level 7 modules offered as part of an Integrated Masters or taught postgraduate degree programme;
• where the piece of work is awarded a mark below the threshold pass mark prior to any penalty being imposed, and is submitted up to three working days after the original deadline (or any formally agreed extension to the deadline), no penalty shall be imposed;
• where the piece of work is submitted more than three working days after the original deadline (or any formally agreed extension to the deadline): a mark of zero will be recorded.

Assessments marked Pass/Fail

• where the piece of work is submitted within three working days of the deadline (or any formally agreed extension of the deadline): no penalty will be applied;
• where the piece of work is submitted more than three working days after the original deadline (or any formally agreed extension of the deadline): a grade of Fail will be awarded.

The University policy statement on penalties for late submission can be found at: https://www.reading.ac.uk/cqsd/-/media/project/functions/cqsd/documents/qap/penaltiesforlatesubmission.pdf

You are strongly advised to ensure that coursework is submitted by the relevant deadline. You should note that it is advisable to submit work in an unfinished state rather than to fail to submit any work.

Formative assessment

Formative assessment is any task or activity which creates feedback (or feedforward) for you about your learning, but which does not contribute towards your overall module mark.

Reassessment

Additional costs