Once you have successfully completed Part 1 you have two options:

Award Title

• Complete Part 2 with CEM and be awarded the RICS Postgraduate Diploma in Property Investment. This will entitle you to use the designatory letters PGDipPropInv.

• Complete Parts 2 and 3 by transferring to the University of Reading to be awarded the MSc in Property Investment. You will be entitled to use the designatory letters MScPropInv, or simply MSc. If you should decide, after starting Part 2 (on the MSc route) that you do not wish to proceed to Part 3, then you will be awarded a University of Reading Postgraduate Diploma, after successful completion of Part 2 and will be able to use the designatory letters PGDipPropInv. It should be noted that, while you would be transferring to the University of Reading, you would still be a student of CEM and all of the course administration and support will be provided by CEM.

If you wish to proceed to the MSc you must register with the University of Reading at the end of Part 1. For those who require specific skills, individual modules may be studied and certificates awarded for those successfully completed. This is referred to as the certificated option route.

The MSc in Property Investment is accredited by RICS. Once you have completed the course you will be eligible to apply for the RICS Assessment of Professional Competence (APC), which leads to Membership. If you have studied a related degree (property or construction) prior to commencing the course you may be able to apply for the APC before completing the MSc. If this is relevant to you, please ask us for details. The Investment Property Forum (IPF) has recognised the programme as providing members of the property investment community with the skills necessary to operate and compete in an ever-changing environment. Postgraduate Diploma and MSc holders are eligible for full membership of the IPF. Student membership is available for all those enrolled on the course.

You should have at least three years’ relevant professional experience and a degree in any subject (2.2 or above, or equivalent level outside the UK). Members or Fellows of RICS, with at least three years’ relevant post-qualification experience, are also eligible. Those with other qualifications may be admitted subject to the approval of the Course Director and the University of Reading.

Part 1

Principles of property valuation and appraisal for freehold and leasehold investments; investment methods; DCF; investment theories; risk and return; performance measurement; statistical measures; databases; essential mathematics and statistics.

Nature, process and techniques relating to investment portfolio construction, revision and management; aims and balance of investment in relation to risk and return; factors influencing selection; modern portfolio theory.

Background; microeconomic and macroeconomic issues of real estate and property investment; impact of budgetary policy and capital market behaviour.

Financial accounting within the overall framework of managerial accounting; fundamentals of financial statements; valuation and control of assets and liabilities; analysis of financial information; property company accounts case studies.

Skills and techniques in the use and application of spreadsheets (principally Excel) to aid decision making for property development and property investment, covering regression analysis, linear programming, simulation and bespoke packages.

Part 2

Compulsory modules

Risk, portfolio selection and testing procedures; non-technical overview of property forecasting and modelling techniques; hypothesis testing; application of regression analysis; uses and abuses of forecasts.

Current practice and market; rationale of performance appraisal in property investment; quantitative measures and indicators of performance; construction of indices and comparison of main property indices, including IPD

Aims to apply all of the skills acquired in Parts 1 and 2. You will assemble a portfolio of property investments, the performance of which will be measured over the past five years and then projected forward for a further five years, with the aim of meeting specified targets. The assignment is presented in report form. All Part 2 modules are co-requisites for the Integrative Assignment.

Module options (choose two)

Indirect methods of property investment; advantages and disadvantages of each; financial principles behind each method.

Property investment in the UK and overseas, principally in European markets; factors influencing cross-border investment flows; increasing impact of pan-European investors within and outside the EU.

Current range of property investment vehicles; debt and equity finance; project and corporate finance; importance of legal structures in such vehicles; live case studies.

Part 3

Independent flexible study (certificated option route)

Ten modules from Parts 1 and 2 are offered for independent study. This means that you can:

• Choose specific subjects in which you particularly need to update your skills

• Obtain a certificate on successful completion of each module

• Gain exemption from successfully completed modules, if you choose to transfer to the Diploma or MSc course

If you complete modules successfully on the certificated option and you wish to progress to the full course, you must claim any exemptions within two years of completion. It is not possible to defer certificated modules. A student wishing to study any module on the certificated route will also be required to complete the ‘Valuation Fundamentals and the Theory of Investment’ module at the same time. The Integrative Assignment is not an option for a student choosing the certificated route.

Two 2-day sessions are held, one in December and one in June in Reading each year for Parts 1 and 2. For Part 3, one-day sessions are held in December and June in Reading, with a possible extra one-day session in the spring. Overnight accommodation is not provided.

Assessment consists of assignments and examinations in all modules, except IT Skills and Decision Making in Part 1, the Integrative Assignment in Part 2, and all the Part 3 modules, which are coursework only.

Assignments

You will complete and submit assignments for assessment according to the timetable of the course, including an integrated project assignment in Part 2

Exams

Exams are normally held in September and comprise:

• Four 2-hour written papers at Part 1

• One 3-hour and three 2-hour written papers at Part 2

Dissertation

Part 3 of the MSc includes a dissertation of 12,000–15,000 words. This will take the form of an in-depth investigation to test a hypothesis within a contextual framework, and will focus on a practical aspect of a course-related subject.

If you would like to apply for the Certificated Route please download and complete this form along with the Credit card authorisation form.

If you wish to apply for the Postgraduate Diploma/MSc in Property Investment course please apply online using the link on the top right.