Please note! Course description is confirmed for two academic years, which means that in general, e.g. Learning outcomes, assessment methods and key content stays unchanged. However, via course syllabus, it is possible to specify or change the course execution in each realization of the course, such as how the contact sessions are organized, assessment methods weighted or materials used.


After the course, the student is familiar with the characteristics of real estate markets and assets. The student understands the basic functions of real estate markets, the role of various actors operating in these markets, and the principles of real estate market dynamics. Further, the student understands value concepts, real estate price and profit formation, and the basic principles of valuation. He/she also is able to perform valuation calculations.

Credits: 6

Schedule: 05.09.2022 - 12.10.2022

Teacher in charge (valid for whole curriculum period):

Teacher in charge (applies in this implementation): Oskari Harjunen

Contact information for the course (applies in this implementation):

CEFR level (valid for whole curriculum period):

Language of instruction and studies (applies in this implementation):

Teaching language: English. Languages of study attainment: English


  • valid for whole curriculum period:

    Characteristics of real estate assets and markets

    Actors in real estate market

    Market dynamics

    Principles of real estate valuation

    Valuation methods

Assessment Methods and Criteria
  • valid for whole curriculum period:

    Exam (preliminary). The assessment methods and criteria will be announced in course syllabus.

  • valid for whole curriculum period:

    160 hours (6 cr). The workload per activity type will be presented in the course syllabus.


Substitutes for Courses
SDG: Sustainable Development Goals

    11 Sustainable Cities and Communities


Further Information
  • valid for whole curriculum period:

    Teaching Language : English

    Teaching Period : 2022-2023 Autumn I
    2023-2024 Autumn I

    Enrollment :

    Registration for the course will take place on Sisu ( The course is offered only to students in the Master's Programme in Real Estate Economics, Master's Programme Creative Sustainability (Real Estate and Water Management), Master's Programme in Urban Studies and Planning (real estate specialization) and those exchange students who have been pre-admitted to the course. In addition there is a quota of 7 students from the Master's Programme in Finance at Aalto and 10 students from Minor in Real Estate Economics

    The minor students will be selected based on
    1) motivation letter and
    2) academic performance of previous studies. 

    The motivation letter as well as transcript of records must be submitted to the Mycourses page of the course two weeks before the course starts.