Study options

Master's Programme in Real Estate Economics

The Master's Programme in Real Estate Economics offers a thorough understanding of the dynamics of real estate markets. You will attain a holistic understanding of the phenomena related to real estate markets and learn the techniques used to analyse, develope and manage real estate.
The programme combines the scientific disciplines of economics, management, land management and planning to provide you with the key skills needed in a wide range of career paths in the real estate sector.
A Bloc yläaula_Tuomas Uusheimo


Master of Science (Technology)

Application period:

1.12.2021 – 3.1.2022

Language of instruction:



2 years, full-time


Relevant Bachelor's degree

Field of study:

Technology and Engineering


120 ECTS

Organising school:

School of Engineering

Tuition fees:

For non-EU/EEA citizens, €15000/y (Master’s studies)

The application period has closed

Applying to master’s programmes

Study languages

The language of instruction is English. Exams also provided in Finnish or in Swedish on request.

More information and Aalto University guidelines on the language and communication studies in the degree here.

Study objectives

The built environment plays a crucial role in reaching international sustainability goals. The real estate sector can offer competitive solutions in areas such as climate change prevention and circular economy. The Master's Programme in Real Estate Economics prepares you for a variety of compelling career options and opportunities to shape the sustainable development of society. The real estate industry is a major employer and the field is always in need of new professionals.

Studies in the Master's Programme in Real Estate Economics introduces you to real estate economics, investment, development, management, technology and legislation. If you are interested in the planning and development of land use, the programme also offers in-depth studies on land use management. After graduation, you will have the expertise you need to work in your field of specialisation:

  • In-depth expertise in the functioning of real estate markets. You can understand phenomena related to real estate as well as analyse and manage the entire lifespan of real estate, thanks to studies in the principles of real estate economics and its legislative foundation, real estate market dynamics and valuation and investment analysis.
  • Knowledge of real estate and environmental legislation. Your studies will cover real estate law, environmental law, the land use planning system and their roles in real estate markets.
  • Experience of applying theory to practice. You will have the opportunity take part in real-world projects during your studies.
  • Strong teamwork skills. People and interaction are an essential part of working in the real estate sector.
  • Opportunities for diverse career paths in real estate economics. Our master's programme combines economics, management sciences, land use and land use planning to provide you with an excellent set of skills for the diverse career paths found in the real estate field.

Content of the studies

The courses of the master's programme cover the knowledge and skills needed to manage tge entire lifespan of real estate. Your studies will include deep dives into the principles of real estate economics, real estate market dynamics as well as valuation and investment analysis. You will also be introduced to real estate legislation, environmental legislation, the land use planning system and the roles they play in real estate markets.

Structure of studies

The Master's Programme consists of 120 credits (ECTS), including following elements:

  • Major studies (60 ECTS); includes 36 ECTS of common studies and 24 ECTS of advanced studies
  • Elective studies (30 ECTS); to be chosen according to your interests and specialisation
  • Master's thesis (30 ECTS); your master's thesis is an independently conducted piece of applied research

The programme is designed so that you are able to complete your common and advanced studies during the first year. This leaves your second year for elective courses and the master's thesis. It also makes it easy for you to go for an exchange period during the second year. Alternatively, you can further build your expertise by taking more of our programme's advanced courses as elective courses.

For more details, visit the programme in Into, the Aalto University student portal):

Career opportunities

Real estate and urban environments require expertise in every phase of their lifespans. The Master of Science in Technology degree from the Master's Programme in Real Estate Economics gives you a great starting point for working in the industry. Our graduates are employed in both the private and public sector, both in Finland and abroad. The real estate sector offers diverse career paths, so you will have the opportunity to follow your own goals after you graduate.

The Master's Programme in Real Estate Economics, a wide variety of extracurricular opportunities and an active real estate economics student organisation combined offer you a strong network that reaches beyond the university. You will have opportunities to connect with current and future real estate professionals from the start of your studies, and many of our students find their future position before they even graduate thanks to these connections. After graduation, you can find work as an analyst, a valuer, a real estate inspector, a researcher or an expert, to name a few. Career paths typically lead to management positions in real estate investment, management and technology.


Get to know our graduates

Alumna Annina Salakka: My education from Aalto is a good base for various work tasks

Stockholm based Annina Salakka works with alternative long-term financing options for real estate investments.

Annina Salakka, real estate economics alumna

Alumna Pia Mäkilä: Experts of real estate sector are needed in many different positions

Pia Mäkilä found a her job with the National Land Survey through her Master’s thesis project, which gave her a new perspective into the field of real estate.

Pia Mäkilä with a horse

Post graduate study options

Master’s programme in Real Estate Economics at Aalto is considered as a great foundation for doctoral studies.


Real Estate Economics students are actively encouraged to spend a semester abroad, studying at one of the top-tier international partner universities of Aalto University.

Furthermore, a student of Aalto University has many other opportunities to make their studies more international, such as:

  • by studying on a summer course or a school abroad
  • by completing an internship abroad
  • by studying new languages and intercultural communication
  • by acting as a international tutor (kv-ISO) for exchange students at Aalto University and by taking part in the AYY Student Guilds' international activities
  • by doing their thesis at a university abroad
  • by completing courses from the Unite! -alliance universities via virtual exchange (Unite! - Opinnot - Into ( .

Chat with Aalto students

Are you wondering what it is like to study at Aalto University? Or what student life is like at Aalto’s vibrant Otaniemi Campus or at the Mikkeli Unit? Come chat with our students about all things Aalto!

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Admission requirements

Aalto University's student selection process is competitive and paper-based. Applications that pass the eligibility check (administrative evaluation) conducted by Aalto University Admissions Services proceed to the school's programme-specific academic evaluation. The programme is planned for full-time studies and preference is given to applicants who are committed to this.

The following are used as criteria for academic evaluation in 2022:

Academic performance
What is evaluated: Grades of the previous degree/CGPA
Admission requirements: Grades need to mainly very good or excellent
Evaluated documents: Transcript of records
Criticality: Critical

Relevance of previous studies
What is evaluated: Content and quantity in relation to the applied study-option-specific requirements
What we look for in an applicant: Content suit very well or excellent to the study option
Evaluated documents: Transcript(s) of records, degree certificate(s)
Criticality: Critical

Recognition and quality of institution
What is evaluated: Recognition and quality of the applicant's previous institution
Admission requirements: Recognized for high quality of education and research
Method of demonstrating competence: International and national rankings of higher education institutions
Criticality: Not critical

What is evaluated: Applicant’s further applicability to the study option, motivation, and commitment for studies
What we look for in an applicant: The applicant should be motivated to study and commit to full-time studies with a plan to complete a master’s degree in two years. Motivation should be clearly related to the programme. In the motivation letter applicant should clearly state the reasons for applying and why she/he would be a good candidate for this programme.
Motivation letter is mandatory. Please see further instructions for the motivation letter below.
Evaluated documents: Motivation letter
Criticality: Critical

We encourage applicants with diverse backgrounds to apply to the programme. To ensure that the students have sufficient skills and knowledge for the Master's studies, priority in student selection is given to students whose earlier studies (either bachelor's degree or other studies):

a) are in real estate, land management or other closely related field or

b) include at least the basics of economics, law, statistics/econometrics and finance.

If completed courses or studies on these topics that are not included in the degree that is used as grounds for the application, the certificates should be attached on these studies in the application.

Study option -specific documents

The following documents is requested to provide by the programme:

  • a motivation letter - mandatory (the lack of this application document will adversely affect the evaluation of your application


Contact information

With questions regarding the application process: [email protected]

With questions regarding the content of the programme and studies: Planning officer [email protected]

Programme director

The application period has closed

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