Urban Studies and Planning in Real Estate Economics, Master of Science (Technology)
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Description
Are you prepared for an intensive master’s degree programme that puts you at the forefront of urban planning and development?
Together with fellow students and teachers from Aalto University and the University of Helsinki, you will combine the fields of urban studies and real estate to learn how to:
- Understand and act on the complex challenges and controversies in urban development.
- Analyse supply, demand and pricing in real estate markets
- Grasp the fundamentals of real estate value formation and understand the logic and motivation of key players in the industry.
- Make sustainable decisions in city planning and development.
- Collaborate with fellow students and stakeholders, working closely with students and professionals in many different fields who bring competing interests, motivations and challenges to the negotiating table.
- Apply relevant conceptual, theoretical frameworks to analyse and critically evaluate urban questions in your own professional field.
- Recognise the multidisciplinary foundations of urban studies and planning while developing your interdisciplinary knowledge.
- Use diverse methods to address urban studies and planning research questions.
- Engage in broader, contemporary urban challenge discussions.
Aside from lectures, in-class group work and your thesis, the unique focus in Urban Studies and Planning in Real Estate Economics study option will be on urban challenges. In your coursework, you will work in an interdisciplinary team to analyse the challenges and strengths of an area in a city, coming up with practical solutions.
This teamwork will focus on urgent contemporary issues found not only in Finland, but on a European and global scale, including controversies intrinsic to urbanisation. It may be attached to a focus area, research project or collaboration with our universities, municipalities and regions to provide a constructive, critical framework for your study and practice. Your team will cross boundaries of disciplines and professions to address a common challenge with a forward-looking perspective.
Past graduates count their work on urban challenges as the most valuable part of their degree – the piece that sharpens their communication skills and prepares them best for taking on real-world issues in their careers.
This study option will require intensive in-person co-operation and negotiation – so your fellow students will be depending on you to be physically present.
The growing, changing nature of urban centres means today’s developers and planners have countless ways to make an impact, so no matter where your passion takes you in the field, you can build a rich and impactful career in shaping the future of our cities.
Language of instruction
All teaching is done in English. Exams can also be taken in Finnish or Swedish, and the master’s thesis can be written in English, Finnish or Swedish.
More information and Aalto University guidelines on the languages of degree and instruction available here.
Tuition fees and scholarships
The tuition fee for this programme is 17 000 euros per academic year. Citizens of European Union (EU), the European Economic Area (EEA) or Switzerland do not pay tuition fees. Citizens of other countries must pay tuition fees.
Aalto University offers a small number of scholarships in the form of tuition fee waivers to fee-paying students. Scholarships can be awarded to the highest-achieving applicants based on the programme's evaluation criteria. Applicants are ranked according to the criteria outlined on the programme's webpage.
More information on tuition fees and scholarships at Aalto University is available at the Scholarships and Tuition Fees webpage.
Structure of studies
The Urban Studies and Planning in Real Estate Economics, Master of Science (Technology) degree is 120 ECTS credits. It includes:
- 64 credits of major studies
- 26 credits of elective studies
- 30 credits of master’s thesis
Half of the major's studies are in urban studies and planning, and half are in real estate studies.
Year one will include both your introductory and advanced studies in USP and real estate.
Year two is devoted to elective studies, which you can also complete abroad. You’re free to pursue your own interests and might choose to deepen your knowledge in real estate or broaden it through studying another related field, like sociology. You will complete year two with your master’s thesis.
More information about the studies can be found on Aalto University's website.
Specialisations
The specialisation in this study option is in real estate, where you will learn the skills to analyse real estate markets and understand the dynamic processes that determine supply, demand and prices.
Internationalisation
The Urban Studies and Planning in Real Estate Economics master’s programme takes a broad look at urban challenges, including outside of Finland, and many of the programme’s faculty bring their international perspectives to the table.
Aalto University is also international by nature, welcoming thousands of degree and exchange students from abroad each year. You will have many opportunities to develop your global competence at Aalto – for example, many students choose to complete exchange studies at one of Aalto’s partner universities around the world.
Further study opportunities
If your interests lie in exploring the latest research in urban planning and real estate, this master’s programme will prepare you to apply for doctoral programmes at Aalto University, the University of Helsinki, or other top international universities.
Career opportunities
You will graduate prepared for an interesting and challenging professional career in real estate or civil service, contributing to the development of integrated and sustainable smart cities while tackling countless new challenges.
Your future career path may lie in the public or private sector, and might include:
- Real-estate development, investment or analysis
- Cadastral engineering
- Consulting
- Strategic planning
- Founding your own start-up
Research focus
If you’re interested in academic research in the field of urban studies and planning or real estate economics, you’ve found the right place. As a joint effort between leading experts in both Aalto and the University of Helsinki, this programme has a rich research culture that applies a mix of methodologies, including quantitative, qualitative, mixed methods and future studies.
The research typically falls under a few broad categories, with significant crossover. Here are a few examples:
- Real estate economics and finance: Land and housing policy, valuations, real estate finance and investments.
- Real estate management: Corporate real estate management, business models in real estate, green innovations, digitalisation.
- Institutions: The legal and institutional foundations of real estate markets and cadastral systems.
Co-operation with other parties
A unique strength of the programme is our close collaboration with the University of Helsinki – so you’ll be getting the best instruction available in both urban studies and planning and real estate. The universities, together with their student groups, pool resources to bring in guest lecturers and host exciting events. All students will have the opportunity to study in an international environment and acquaint themselves with different cultures.
And you won’t be working solo. You’ll have the student communities from both Aalto and the University of Helsinki at your fingertips – spending your time working, building bonds and relaxing with enthusiastic, driven students from both universities. Each year, new students in the Master’s Programme in Urban Studies and Planning include both Finnish and international applicants whose backgrounds reflect the richness of modern society.
Evaluation criteria 2025
Applicants meeting Aalto's general eligibility criteria for master's studies are evaluated and ranked according to the evaluation criteria decided in advance for each study option.
The applications to Urban Studies and Planning in Real Estate Economics (USP in REE) study option are evaluated based on the following criteria:
| What is evaluated? | Grades of the previous degree/CGPA |
| What we look for in an applicant? | Grades need to be mainly very good or excellent. The applicant's success in his/her previous studies (those that give basis for applying to the programme) will be evaluated based on the grade point average (GPA). Applicants are required to have a GPA equivalent to a minimum of 3.0 (on a scale 1.0 - 5.0, 1.0 being the minimum passing grade). |
| Method of demonstrating competence | Transcript(s) of records, degree certificate(s) |
| What is evaluated? | Content and quantity of previous studies in relation to the study-option-specific requirements. |
| What we look for in an applicant? | BSc or equivalent degree in a relevant field. However, the study option should provide genuinely new knowledge and enhance the career prospects of the applicant |
| Method of demonstrating competence | Transcript(s) of records, degree certificate(s) |
| What is evaluated? | Recognition and quality of the applicant's previous institution |
| What we look for in an applicant? | The applicant's previous institution (where the degree giving basis to apply was completed) will be evaluated based on the recognition and quality of the institution. |
| Method of demonstrating competence | International and national rankings of higher education institutions |
| What is evaluated? | Applicant’s further applicability to the study option, motivation and commitment for the 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 in mandatory. Please see further instructions for the motivation letter below. |
| Method of demonstrating competence | Motivation letter (mandatory) |
To ensure that the students have sufficient skills and knowledge for the Master’s studies, a miminum requirement in student selection is that earlier studies (either bachelor's degree or other studies) include at least basics of economics. Priority will be given to students whose prior studies include courses in real estate, urban studies or urban geography. If completed individual 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.
In addition to the studies giving basis to apply to the programme, other possible studies are also evaluated. However, the study option should provide genuinely new knowledge and enhance the career prospects of the applicant. Thus, applicants who already have a master’s degree in a closely related field will only be admitted with well-justified reasons which should be explained in the motivation letter.
The applied pedagogic approach relies heavily on multi-disciplinary group work, dialogue and co-creation. Thus, students are expected to participate in the teaching sessions and studios, and participation is in many cases obligatory. This characteristic assumes that students in the programme commit to full-time studying and active participation. Applicants are encouraged to discuss this also in their motivation letter, and students who present a credible plan for full-time studies are given priority.
Study-option-specific documents required
The documents requested from all applicants are listed here Applying to master's programmes . In addition, applicants to Urban Studies and Planning in Real Estate Economics study option are requested to provide the following documents:
- a motivation letter - mandatory (the lack of this application document will adversely affect the evaluation of your application
- Max 1 page
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Should be written in English
The motivation letter is an important part of your application. It gives you an opportunity to present relevant pieces of information that cannot be provided elsewhere in the application.
Examples of questions to consider when writing the motivation letter:
- Why are you applying for this master’s programme?
- What do you expect to gain from studies in this master’s programme?
- How will your previous education, work experience, knowledge and skills support your success in your master’s degree studies?
- Describe your professional goals. How do you think the master’s programme you are applying for would support the development of your professional profile?
- What kind of career are you planning?
- Why do you want to study at Aalto University and in Finland?
If you have already completed another master’s degree in a closely related field or have the right to study for another master’s or doctoral program, explain why you are applying for this master’s degree.
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Contact information
Heidi Falkenbach
Professor
Päivi Kauppinen
Planning officer (content and studies of the study option)
Aalto University Admission Services
For enquiries regarding the application process, obligatory application documents or English language proficiency, please contact Admission Services.
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