1.41 YouTube video

Komilla Chadha studied on the MSc Real Estate at Bayes Business School, the only business school offering a master's in real estate in London. In this video she tells us about her role as a surveyor at JLL in London and also how her passion for food inspired her to set up the JLL Dining Club.


Who is it for?

A Bayes master's degree is your gateway to a real estate career. You may be a recent graduate with any previous degree, have a job in finance or real estate but wish to upgrade your skills and/or knowledge of real estate, or are intending a career switch from another industry.

Four key features make us market leaders in Real Estate masters programmes:

  • Track record: Established 20 years ago, and accredited by the Royal Institution of Chartered Surveyors (RICS), our degrees are widely recognised and highly valued by major employers; you will find Bayes Real Estate graduates at all levels in leading real estate firms around the world.
  • Capability: You will be taught by highly qualified real estate staff, all with at least 10 years’ experience in teaching in senior roles in the industry and active in research. And we draw on London’s unmatched pool of industry professionals to act as visiting lecturers and guest speakers.
  • Focus: Bayes only offers Real Estate courses on a postgraduate level – so you have the exclusive attention of our staff - and has specialised in courses which blend the professional, financial and practical skills in high demand across the real estate industry.
  • Location: We are the only Business School to offer real estate programmes in London, with the opportunity to network in a global real estate hub, neighbouring both the City’s financial core and the new tech belt centred on Silicon Roundabout.

Bayes Real Estate courses:

  • Equip you with the core skills required by the industry embracing valuation, financial modelling, development appraisal, market analysis and cash flow modelling.
  • Are set in a framework of robust quantitative methods, financial and economic theory.
  • Have an emphasis on up to date industry techniques and practical tools taught hands-on in computer labs.


We offer a choice of two courses: the MSc Real Estate and the MSc Real Estate Investment.

MSc Real Estate offers a choice of pathways, which you choose between in the second term. One option adds more UK-specific skills in law, valuation and taxation for those who want to join the graduate-entry programmes of chartered surveying firms. The second focuses more on financial analysis and international markets for those looking to work in investment, finance, development or outside the UK.

MSc Real Estate Investment requires a stronger background or aptitude in quantitative methods - from mathematics at final year high-school level, a degree with a quantitative element, or work experience. The course covers the same core “real estate professional” skills as the MSc Real Estate, but extends it to advanced methods in financial modelling, industry research and portfolio analysis, and covers in more detail the financial markets created by Real Estate Investment Trusts and Mortgage Backed Securities. Graduates from this course may enter the same businesses as those from the MSc Real Estate, but will be better qualified for “real estate analyst” roles in investment strategy, financing and research.

If you are not sure which of our degrees is best for you, you can put both on your application form and we will suggest which is more suitable.

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The first term covers the portfolio of core real estate professional skills – quantitative methods in data analysis, valuation, investment, asset management and understanding real estate markets.

In the second term, our two core modules, applied appraisal and financial modelling, will expand on and apply the core real estate principles and methods you studied in the first term.

Your second term module choices provide two learning “pathways”.

If your aim is to join the graduate entry programme of the major UK real estate employers and take the RICS Assessment of Professional Competence, you can pick modules that tilt toward UK-specific topics in law, taxation and applied valuation. If you aim to work in fund management, finance, development or outside the UK, you can tilt toward development and planning, investment vehicles and portfolios or international markets. Either way, your choice will not pre-determine the jobs available to you.

Induction weeks

All of our MSc courses start with two compulsory induction weeks which include relevant refresher courses, an introduction to the careers services and the annual careers fair.

Assessment methods

All core modules in Term 1 and Term 2 are assessed by sight-unseen examinations (in January and April) plus coursework set and delivered in Term time. Elective modules are assessed by coursework only.

Your coursework will take a range of forms - essays, modelling projects, presentations, class tests. Some are done individually, others in self-selected or allocated groups of up to four. The mix of assignments is designed to develop the general and soft skills employers expect – time management, team working, report production and presentations.

Overall your final masters mark will be assessed on 50% exams and 50% coursework.

Course Element % Weight in Final Marks
Term 1 + Term 2 total eight core modules 66.67%
Examinations 50.00%
Coursework  16.67%
Term 3 Elective Modules - coursework 16.67%
Individual Business Research Project 16.67%

Term dates

Term dates 2022/23

  • Induction: 12th September 2022 - 23rd September 2022
  • Term one: 26th September 2022 - 9th December 2022
  • Term one exams: 9th January 2023 - 20th January 2023
  • Term two: 23rd January 2023 - 7th April 2023
  • Term two exams: 24th April 2023 - 5th May 2023
  • Term three - international electives: 8th May 2023 - 19th May 2023
  • Term three: 22nd May 2023 - 7th July 2023
  • Term three exams: 10th July 2023 - 21 July 2023
  • Resits: 14th August 2023 - 25th August 2023
  • Additional resit week - tests only: 28th August 2023 - 1st September 2023.

Teaching staff

Your Course Director will be Alex Moss. Alex is also the Director of the Real Estate Research Centre at Bayes and Course Director for the MSc Global Finance online course. He has previously held senior roles with Macquarie, Apax Partners, CSFB  and BZW. He is currently Chairman of the Research Committee of the European Public Real Estate Association and runs a consultancy business advising institutions on their listed real estate strategies. He has authored numerous industry publications and academic papers.

Alex teaches on the following modules:

  • Indirect Vehicles and Portfolio
  • International Real Estate Markets.

Dr Mark Andrew (On sabbatical 1/9/2021 to 31/8/2022)
Mark has been at the Business School (formerly Cass) since 2007. He is a highly skilled quantitative analyst who has published over 20 papers in highly ranked journals and several governments commissioned reports on his research speciality in residential markets. He is currently serving on the IPF Research Steering Group.  

Mark teaches on the following modules:

  • Applied Data Analysis
  • Residential Investment

Stephen Lee
Stephen has over twenty years teaching experience, at the Business School (formerly Cass) since 2005. He is an internationally recognised academic, who sits on the boards of the European Real Estate Society and the International Real Estate Society. He has published over 100 papers which break new ground in the field, mostly looking at investment risks and returns, asset allocation and portfolio construction.

Stephen teaches on the following modules:

  • Asset and Fund Management
  • Indirect Values and Portfolio

Bill Rodney
At the Business School (formerly Cass) since 1990, Bill is one of the most experienced teachers of appraisal in the country, with a particular specialism in the use of spreadsheet models. Outside the Buisness School, Bill has his own business that runs Executive Education and professional skills courses for surveying and investment businesses all over the world – which gives him a unique insight into the techniques they use and skills they need.

Bill teaches on the following modules:

  • Real Estate Development
  • Financial Modelling

Professor Sotiris Tsolacos
Sotiris is an academic with years of practical experience. Previously he was with Henley Business School and held posts at JLL and Property Portfolio Research/Costar from 1999 to 2013. He is a co-author of the standard textbook on real estate forecasting.

Sotiris teaches on the Economics and Market Analysis module.

Christopher Bourn

At the Buisness School since 2017, Chris has more than 25 years' real estate experience, which includes private equity, investment banks and property company investor developers, with coverage in the UK and Pan European markets. Chris also manages his own real estate consulting business and combines this with running Excel based real estate CPD accredited training courses to property professionals, investment banks and sovereign wealth funds. Chris is Argus Software Certified for Enterprise and Developer, holds an MSc Real Estate Investment (distinction) from the Buisness School and is a Fellow of the Chartered Association of Certified Accountants.

Chris teaches on the following modules:

  • Principles of Appraisal
  • Applied Appraisal
  • Advanced Modelling and Risk Analysis


How to apply

We only accept online applications.

Apply for MSc Real Estate

Documents required for decision-making

  • Transcript/interim transcript
  • Grading system used by your university
  • Current module list if still studying
  • CV
  • Personal statement - this should be 500-600 words in length and answer the following:
    • Why have you selected this course? What are your motivating factors?
    • What are your areas of interest within the course?
    • What contributions do you feel you can make to the course?
    • How do you see the course affecting your career plans?

Documents which may follow at a later date

  • English language test result if applicable
  • Confirmation of professional qualification examinations/exemptions/passes, if applicable
  • Two references
  • For a successful application to receive an unconditional status all documents must be verified, so an original or certified copy of the degree transcript must be uploaded to the application form or e-mailed to the relevant Admissions Officer upon request

We cannot comment on individual eligibility before you apply and we can only process your application once it is fully complete, with all requested information received.

Individual Appointments

If you would like to arrange an individual appointment to discuss the application process and be given a tour of the facilities, please complete this form.

Please note - these are subject to availability.

Terms and conditions

Students applying to study at Bayes Business School are subject to City, University of London's terms and conditions.

Entry requirements

  • A UK upper second class degree or above, or the equivalent from an overseas institution.
  • Work experience is not a requirement for this course.

English language requirements

  • If you have been studying in the UK for the last three years it is unlikely that you will have to take the test
  • If you have studied a 2+2 degree with just two years in the UK you will be required to provide IELTS results and possibly to resit the tests to meet our requirements.


The required IELTS level is an average of 7.0 with a minimum of 6.5 in the writing section and no less than 6.0 in any other section.

Some other English Language tests might be accepted.


UK/EU/International £25,000 Tuition fees are subject to annual change

Fees in each subsequent year of study (where applicable) will be subject to an annual increase of 2%. We will confirm any change to the annual tuition fee to you in writing prior to you commencing each subsequent year of study (where applicable).

Application fee: Nil

Deposit: £2,000 (usually paid within 1 month of receiving offer and non-refundable unless conditions of offer are not met)

First instalment: Half fees less deposit (payable during on-line registration which should be completed at least 5 days before the start of the Induction period)

Second instalment: Half fees (paid in January following start of course)

Information about Scholarships

Career pathways

The largest proportion of our students go on to the graduate entry schemes of major firms of chartered surveyors in the UK, going through the RICS Assessment of Professional Competence to become qualified professionals.

The others go into a very wide range of employers and roles – with smaller niche agencies, fund managers, developers, investment banks, lending banks, public agencies, rating agencies, research companies, not to mention setting up their own businesses. Many will go on to professional qualifications outside real estate, such as Chartered Financial Analyst Institute.

Around half our students come from outside the UK, many of them take up jobs in other countries with the boost that a degree from Bayes, accredited by the Royal Institution of Chartered Surveyors, is a widely recognised and highly valued qualification world-wide. And they will generally find Bayes real estate alumni already there to form the base of their professional network.

Class of 2020 profile

Recent graduates from the MSc in Real Estate degree have secured positions in companies including:

  • Analyst - Operational Capital Markets - Savills
  • Property Manager - Property Management - Colliers International
  • Graduate Surveyor - Retail - CBRE
  • Graduate Trainee Surveyor - Development - Grainger
  • Investment Analyst - Investment & Capital Markets - Lendlease.

Connecting with employers

  • From week one, we host recruitment visits from all the largest real estate employers – like CBRE, JLL, Cushman Wakefield, Savills – plus other firms in real estate fund management, development, finance.
  • Our real estate specialists in the Bayes Careers Service hold contacts with businesses across the industry, and will notify you of job opportunities as they come in through the year.
  • You will have un-matched opportunities to network with professionals and employers across London’s vibrant real estate industry at seminars and an annual conference run by our students’ Real Estate Club, and through our mentoring scheme which matches you up with a Bayes graduate, and through industry events outside Bayes.

Where they are working now

  • UK: 59%
  • EU/ EEA: 20%
  • Asia: 15%
  • Africa and Middle East: 5%
  • Americas: 2%

Industry post-master's

76% Property / real estate
7% Financial services - asset managment
5% Financial services - advisory / boutique firm

Data provided from alumni who completed the annual destination data survey for the class of 2019/20

Alumni stories

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Hear from our alumni. Discover the real experiences of learning at Bayes and how Bayes helped to boost our graduates' careers.

Read Flavien’s story

Course information and statistics (2021/22 cohort)

average age of student body
of pathways to tailor to your career ambitions
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combined average employment rate on Real Estate masters courses


The Royal Institution of Chartered Surveyors (RICS) accredits the course, enabling graduates to enter the RICS Assessment of Professional Competence (APC).