Department of Built Environment

Real Estate Economics

Real estate economics analyses the dynamics of real estate markets from the perspectives of e.g. business, planning, technology, value formation and law. The Real Estate Research Group at Aalto University is the only university-level research unit in Finland focusing on the broad area of real estate.

The real estate sector plays a major role in most developed economies, as it is connected to all actors and actions in the society, from individual households to companies and the public sector. For example, in Finland, the sector comprises 70 per cent of our national wealth, 60 per cent of all investments, and 20 per cent of all jobs. 50 per cent of all climate change mitigation possibilities are estimated to be within the real estate sector. For all these reasons, digitalisation, climate change, urbanisation and other global trends are closely integrated into our research.

Our research themes are:

Economic law is responsible for the education and research provided in the area of environmental and real estate law, and actively takes part in the processes of drafting new legislation in the area. Focus areas include environmental law and climate law, as well as land use and building law.

Professors: Ari Ekroos and Antti Palmujoki

Land management focuses on the management and development of the cadastral system as well as land policy.

Professors: Kauko Viitanen and Kirsikka Riekkinen

Real estate business specialises in the research of sustainable business models within the real estate sector. Strategic focus areas are digitalisation, innovation and entrepreneurship in real estate business, mitigation of climate change in the built environment, as well as distributed and sustainable energy solutions.

Professors: Seppo Junnila

Real estate economics and valuation focuses on the dynamics of real estate markets, value formation and investments. The strategic research focuses are valuation, real estate markets, land policy and urban economics as well as real estate finance.

Professors: Kauko Viitanen, Heidi Falkenbach, Saija Toivonen, Elias Oikarinen, Oskari Harjunen, Tuukka Saarimaa.

You can study real estate economics in the Bachelor’s programme in Built Environment, in the Master’s Programme in Real Estate Economics as well as in the Master’s Programme in Urban Studies and Planning (real estate specialisation).