Overview
Introduction
The MSc Real Estate Economics and Finance programme integrates current academic economic and financial analysis and research with an applied study of real estate markets.
Ranked as the number one Real Estate Master’s course worldwide (Eduniversal Best Masters Ranking 2024), the programme has an international focus that is transferable across countries and institutional settings. You'll acquire significant theoretical and technical knowledge to equip you to understand urban economic processes, price determination in land and real property markets, and their interrelation with investment markets, investment analysis and portfolio choice as well as the impact of land use regulations, transport, public policy and socio-economic change. This programme will appeal if you wish to work, or are already working, in a specialised area relating to property and urban analysis, real estate finance or investment analysis.
The programme benefits from a partnership with the Investment Property Forum (IPF), which has included the programme on their selected list of graduate courses that it judges provide the relevant skills necessary for those operating in the property investment market. This recognition comes with a number of benefits for our master's graduates, including fast-track membership to the forum. In addition, the programme has an agreement with the Royal Institution of Chartered Surveyors (RICS), thus conferring professional recognition.
Accreditations
The Masters in Real Estate Economics and Finance is accredited by the Royal Institution of Chartered Surveyors (RICS). Students who pass their degree will automatically gain accreditation.
Preliminary readings
You're not required to do any preparatory reading for MSc Real Estate Economics and Finance (unless specifically noted in your offer letter), but if you'd like to prepare, the following is relevant to the programme:
- E L Glaeser Triumph of the City: how our greatest invention makes us richer, smarter, greener, healthier and happier (Penguin Press, 2011)
- J K Brueckner Lectures on Urban Economics (MIT Press, 2011)
- J F McDonald and D P McMillen Urban Economics and Real Estate, Theory and Policy (Blackwell, 2011)
Entry requirements
Upper second class honours degree (2:1) or equivalent with background in economic analysis, and good analytical, quantitative and technical skills.
In exceptional cases, when a candidate has a very strong academic background in a related discipline but insufficient background in (micro-) economics, as a condition of admission candidates may be required to take an LSE summer school course in Intermediate Microeconomics and obtain a specified grade.
Please note that due to the high demand for places on the MSc Real Estate Economics and Finance, those accepted on to this programme won't normally be granted a programme transfer. If you don't intend to follow the programme, you must withdraw your application prior to Registration and apply directly to your new programme choice using the LSE online application system.
Find out more about the ESRC-funded pathway onto a PhD programme
Please select your country from the dropdown list below to find out the entry requirements that apply to you.
Overseas
English language requirements
The English language requirement for this programme is Standard. Read more about our English language requirements.
Competition for places at LSE is strong. So, even if you meet the minimum entry requirements, this does not guarantee you an offer of a place.
However, please don’t feel deterred from applying – we want to hear from all suitably qualified students. Think carefully about how you can put together the strongest possible application to help you stand out from other students.
Programme content
Year 1
You'll take courses to the value of four full units in total. You'll take three compulsory courses, in addition to either Asset Markets A or Finance I, one optional half-unit course and a dissertation. If you're planning to apply for a PhD within the department, please be advised that you need to take some methods training as part of the MSc. Contact your MSc programme director and the Director of Graduate studies to discuss this requirement.
Why study with us
Discover more about our students and department.
Meet the department
Our department is highly regarded both nationally and internationally – ranked second for Geography in the QS World University Rankings 2024.
Here at LSE, we offer a unique opportunity to study geography in a university with a worldwide reputation in the social sciences. We specialise in economic, urban and development geography, environmental social science and climate change, all with a strong emphasis on real-world applications.
Many of our academics are internationally renowned in their fields. You’ll find a good balance of experienced and younger academics in the department. Within the team, we’ve had three holders of the highly prestigious Philip Leverhulme Prize Fellowships for researchers under the age of 36.
Our research is interdisciplinary and international in its scope and we work closely with academics from several other departments at LSE. Teaching staff are active within the following research centres:
- Cañada Blanch Centre for Contemporary Spanish Studies
- Centre for Climate Change Economics and Policy
- Centre for Economic Performance
- Grantham Research Institute on Climate Change and the Environment
- LSE London
- Middle East Centre
- Saw Swee Hock Southeast Asia Centre
- Transition Pathway Initiative Centre
- What Works Centre for Local Economic Growth
Based in the heart of London opposite Lincoln’s Inn Fields, the department offers a lively, welcoming and supportive community for students and staff.
Learn more about our undergraduate, postgraduate
and PhD study opportunities,
as well as our research.
Why LSE
University of the Year 2025 and 1st in the UK
Times and The Sunday Times - Good University Guide 20251st in London for the 13th year running
The Complete University Guide - University League Tables 20256th In the world
QS World University Rankings by Subject 2024Carbon Neutral In 2021, LSE became the first Carbon Neutral verified university in the UK
Your application
Overview
We welcome applications from all suitably qualified prospective students. At LSE, we want to recruit students with the best academic merit, potential and motivation, irrespective of background.
We carefully consider each application and take into account all the information included on your application form, such as your:
- academic achievement (including predicted and achieved grades)
- statement of academic purpose
- two academic references
- CV.
See further information on supporting documents.
You may need to provide evidence of your English language proficiency. See our English language requirements.
This programme is available as part of an ESRC-funded pathway onto a PhD programme. The 1+3 scheme provides funding for a one year research training master's linked to a PhD programme and is designed for students who haven't already completed an ESRC recognised programme of research training. An application must be submitted for the relevant master’s programme, including a research proposal for the PhD aspect of the pathway. Applicants must also indicate their wish to be considered for the 1+3 pathway within their personal statement.
When to apply
Applications for this programme are considered on a rolling basis. This means that applications will close once the programme is full.
There is no fixed deadline. However, if you’d like to be considered for any funding opportunities, you must submit your application (and all supporting documents) by the funding deadline. See the fees and funding section below for more details.
Fees and funding
The table of fees shows the latest tuition fees for all programmes.
You're charged a fee for your programme. At LSE, your tuition fee covers registration and examination fees payable to the School, lectures, classes and individual supervision, lectures given at other colleges under intercollegiate arrangements and, under current arrangements, membership of the Students' Union. It doesn't cover living costs or travel or fieldwork.
Home
Home student fee (2025/26)
For this programme, the tuition fee is different for home and overseas students depending on their fee status.
Overseas
Overseas student fee (2025/26)
For this programme, the tuition fee is different for home and overseas students depending on their fee status.
Learning and assessment
How you learn
How you're assessed
All taught courses are required to include formative coursework which is unassessed. It's designed to help prepare you for summative assessment which counts towards the course mark and to the degree award. LSE uses a range of formative assessment, such as essays, problem sets, case studies, reports, quizzes, mock exams and many others. Summative assessment may be conducted during the course or by final examination at the end of the course. An indication of the formative coursework and summative assessment for each course can be found in the relevant course guide.
Graduate destinations
Overview
Our MSc graduates enter a wide variety of employment including professional firms, finance, real estate research, consultancy, the public sector and education.
Further information on graduate destinations for this programme
Professional development
In addition to our cutting edge academic programme, the Real Estate Economics and Finance MSc offers an industry-leading Professional Development Programme. We organise numerous networking events with high profile figures for the real estate industry, including asset managers, investment funds, investment and lending banks developers and consultants. Our dedicated careers advisor offers CV and interview workshops and our active network of alumni actively supports current students via a mentorship scheme.
Events
This is your chance to meet professionals working in the property and real estate sector at different stages in their careers. There will be the opportunity to meet and talk with real estate finance professionals, finance analysts, surveyors, commercial analysts, PE specialists and more.
- Alumni events
Typically in the summer and in the winter, we have an active network of alumni who meet on a regular basis and support current students in their professional development.
- The LSE Careers event
Many of the global players in the real estate industry come to LSE to meet our REEF students during the hiring season in the Autumn.
Recent organisations at our careers events include: Goldman Sachs, BNP Paribas, Eastdil, Deutsche Finance, Optimum Asset Management and Landlease.
- REEF Advisory board careers event
In addition to the LSE real estate careers event we also offer an exclusive event organised by the advisory board of our programme.
This is an opportunity to network with senior professionals who come to LSE to meet our students on invitation of the members of the advisory board.
- Real Estate Club events
This student-led club operates with the support of academic staff and organises events relevant to the professional interests of its members. These include workshops and seminars on topics determined by the club’s committee.
Professional mentoring
REEF students have access to a specialised network of high-profile professionals. We match students who wish to participate in this programme with a professional working in their field of interest. We have a network of alumni and friends of the programme stretching across numerous countries and specialisations within the broadly defined area of real estate. Mentors advise on career choices, professional development and help with the job market.
Coaching
A dedicated member of LSE’s careers office provides individual support for real estate related careers. The office also works with groups and has very useful resources for improving interview and networking skills.
Software and methods training
Careers in real estate economics and finance require different analytical skills, methods training and proficiency in software. In addition to the compulsory teaching we offer complementary training in:
- Excel / cash flow analysis
- GIS (what it is and what it can be used for)
- Stata (what it is and how it can be used for)
- Data session (Library training in real estate data and why it is important)
Professional partnerships
- Investment Property Forum recognises LSE's MSc REEF
The Investment Property Forum, IPF, includes the MSc Real Estate Economics and Finance programme on their selected list of postgraduate courses that the Forum considers to provide the relevant skills necessary for those operating in the property investment market. This recognition comes with a number of benefits for our master's graduates, who will be offered fast-track membership to the Forum.
- Partnership between MSc REEF and RICS
MSc REEF entered into a partnership agreement with the Royal Institution of Chartered Surveyors in 2002. Graduates from 2002 onwards receive RICS recognition; past graduates can apply to RICS for personal membership.
- Recognition of student success by professionals
Our students and their work are highly valued by different professional bodies and this is reflected in several prizes sponsored by different industry insututions. We currently award two prizes: the HSBC Global Asset Management Dissertation Prize and the IPF Postgraduate Dissertation Prize (Investment Property Forum).
Median salary of our postgraduate students 15 months after graduating:
Top 5 sectors our students work in:
Career support
From CV workshops through to careers fairs, LSE offers lots of information and support to help you make that all-important step from education into work.
Many of the UK’s top employers give careers presentations at the School during the year and there are numerous workshops covering topics such as job hunting, managing interviews, writing a cover letter and using LinkedIn.
See LSE Careers for further details.