Master's Programme in Real Estate Investment and Finance


Master of Science (Technology).
More information.


120 ECTS

Field of Study:

Technology and Engineering


2 years, full-time


An appropriate Bachelor´s degree or an equivalent qualification.
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Tuition fee:


Language of Instruction:

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Organising school/s:

School of Engineering

Organising department/s:

Department of Real Estate, Planning and Geoinformatics.

Further information:

NB! There is no intake to this programme in the application round 2015. New programme in Real Estate Economics will be offered since 2016. The new programme website will be launched in autumn 2015.

NB! There is no intake to this programme in the application round 2015. New programme in Real Estate Economics will be offered since 2016. The new programme website will be launched in autumn 2015.

Master's Programme in Real Estate Investment and Finance offers a holistic understanding of the operations in real estate markets and investments. After the programme, you are able to perform investment analyses of individual real estate investments and portfolios and conduct market analysis. In addition, you gain knowledge on real estate management, development and the relevant legislation related to real estate. The programme combines theoretical knowledge with extensive hands-on work in assignments and case studies.

The programme prepares students to professional positions in real estate, such as real estate analyst, commercial advisor, real estate manager and researcher.

Real estate investments represent a large share of the wealth universe as well as of the portfolios of institutional investors, being thus an important field of specialisation in finance. Due to the special characteristics of real estate investments, operating in the real estate business requires knowledge of the functions and processes on the markets. This is what the Real Estate Investment and Finance programme at Aalto is about.

You will study:

  • Analysis of real estate investments and portfolios, both in theory and practise
  • Theories and their use in explaining the dynamics of real estate markets
  • Operations and roles of different actors, such as real estate investor, developer and agent.

Please, see the student portal Into for the programme courses.

Evaluation criteria

In the academic evaluation candidates’ academic qualifications are assessed. Admission to the programme is granted on a competitive basis. The candidates are assessed on the following criteria:

  • Previous degree
  • Applicability of prior studies (coursework related to the programme)
  • Prior academic study performance
  • Commitment and motivation to the programme How to write a motivation letter?:motivation_letter_2014.pdf

The suitability of previous academic studies with relation to the programme applied is evaluated. The aim is to select students whose academic background is suitable for starting the Master’s programme in Real Estate Investment and Finance with minimum amount of complementary studies. The main prerequisite for the programme is a Bachelor’s degree with emphasis on Real Estate studies, such as Real Estate Management, Real Estate Development or Land Law, for example a Bachelor’s degree in Engineering or Economics or other relevant field. In addition, basic studies in Finance are required. 

The academic study performance is evaluated based on the candidates’ cumulative GPA in the degree based on which the candidate is applying. Additionally study success in the key subjects and/or BSc thesis related to the programme is taken into account.

The candidates will be ranked based on the respective academic evaluation criteria and listed in order for selection.

Complementary studies

The university may require an admitted student to pursue supplementary studies (max. 60 credits) to gain the knowledge and skills required for the master’s programme studies. The supplementary studies provide the student with the prerequisite knowledge for the master’s programme and are not counted towards the degree of Master of Science (Technology). The contents of the supplementary studies are defined for each student no later than at the start of his/her studies.

Required application documents

The applicants for master's programmes should fill in an application form on the Aalto University online application system ( The application form is available only during the application period. Before filling in the online application form or submitting any documents, please read the admission requirements and instructions carefully.

Applicants use the online application system to follow the status of their application and see the arrival of their documents. The online system is used throughout the whole application process. Also the final admission results will be published via the online application system. Aalto University does not charge application fees.

Please, see information about the application documents and the delivery at:

In addition to the compulsory application documents, the candidates are asked to provide possible relevant work certificates and a true attested copy of the Finnish matriculation examination certificate in case the matriculation examination has been taken in a Finnish upper secondary school.

Selection schedule


Contact information

Academic contact:
Kauko Viitanen, professor
e-mail: kauko.viitanen [at] aalto [dot] fi


Page content by: | Last updated: 18.08.2015.