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Master of Science (MSc) in
Real Estate
Your path to shape the skyline


The Real Estate industry plays an integral role in the worldwide economy and has become a very competitive and technically sophisticated sector. Did you know that in 2018, real estate construction contributed $1.15 trillion to the US’s economic output? And that the US, the UK, Germany and Spain ranked at the top of investment destinations worldwide?

The MSc in Real Estate will provide you with the necessary skills and networking to succeed in this fascinating and competitive sector, in an international business context.

Taught by world-renowned faculty and guest expert practitioners, participants will receive a cutting-edge education combining theory with real-world applicability to become leaders in the industry.

This international programme includes two terms of intensive courses in Madrid and one term in London with additional specialization courses. Field trips to major European capitals are part of the programme. The master thesis and a company internship are the final steps to complete this Master.

Claudia RUSSO SANJUANBENITO – President of ESCP Europe Real Estate Association - ESCP EuropeESCP Europe has a worldwide reach in the real estate sector. From networking events to accredited courses and partnered internships, the School provides us with the tools to become successful real estate professionals. We have hosted reputable speakers on subjects ranging from distressed mortgage debt to urban design. Such events have allowed us to discuss with industry professionals whose insider quality gave us a true understanding of the market, in addition to the theoretical classes we attended. We have now entered the real estate labour market with a rich network and confidence in our capabilities.”
President of ESCP Europe Real Estate Association
Master in Management class 2019


Common job titles are:

  • Real Estate Analyst
  • Real Estate Asset Manager
  • Real Estate Investment Manager
  • Valuation Analyst
  • Development Analyst
  • Investment Analyst
  • Financial Analyst
  • Acquisitions Associate
  • PropTech entrepreneur
  • Real Estate Big Data Analyst
  • Mortgage Broker and Analyst

Industries hiring:

  • Institutional Investors and Investment Funds
  • Consultancy Firms
  • Real Estate Service Firms
  • Investment Banks
  • Investment and Development Companies

Key aspects of the programme*

  • Learning by doing: Our teaching principles combine a real estate curriculum with real business cases, live case studies, seminar presentations by renowned guest speakers, networking events, and an International Consulting Project (ICP)
  • Technology driven approach to understand and work with the most advanced technologies in the Real Estate world
  • World-renowned faculty and guest expert practitioners will provide the best professional practices in an international context.
  • PropTech entrepreneurs will analyze their successes, struggles and business models
  • “Full-Time Intensive” format will allow you at the end of a short and dense tuition, to have an immediate access to decision-making leadership positions
  • Field trips and other learning experiences outside the classroom to complement the programme.
  • Internships all over the world for a minimun of 4 months.
  • Multicampus structure will allow participants to study in two of the most dynamic, beautiful and important capitals in Europe
  • Multicultural diversity thanks to ESCP Europe’s global faculty and international class mix.
  • Career possibilities around the globe through our large alumni network and ESCP Europe’s strong connections with the corporate world.

*ESCP Europe declares that the MSc in Real Estate is a private ESCP Europe diploma. This Master does not lead to an official diploma in Spain (law 84/2004 BOCM)

Scientific Director

Prof. Dr. Jaime LUQUE, Associate Professor, Madrid Campus - ESCP Europe

Jaime Pérez Luque

PhD in Economics, Nova School of Business and Economics

Research areas: residential development and mortgage lending

About the ESCP Europe MSc

The choice of a Full-Time MSc corresponds to a professional project and gives young graduates and young managers a combination of high-value skills sought by recruiters.
This programme provides academic expertise and presentation of the best professional practices. Our goal is to train experts who will be rapidly able to progress in a globalized world. Choosing a "Full-Time Intensive" format allows, at the end of a short and dense tuition, to have an immediate access to decision-making leadership positions.

Master of Science (MSc) in
Real Estate

Our programme targets your expertise

The MSc in Real Estate (90 ECTS) will train you to manage projects in an international business context

The programme makes significant use of inductive teaching methods and interactive activities (project simulations, case studies, business plan development, etc.). This guarantees the skills acquisition needed to work in multidisciplinary, international and multicultural teams.

This full-time programme takes place over 9 months (15 months including internship and thesis) and is divided into three terms (2 terms in Madrid and 1 term in London). You have to be proficient in English to follow these courses.

Within the Master, you can enrol for a training course and exam to obtain either Project Manager Professional certification (PMP®) or the Certificate Associate in Project Management (CAPM ®) awarded by the Project Management Institute (PMI®).
CAPM®, PMP® and PMI® are brands of the Project Management Institute, Inc.

A one-year full-time programme

The programme begins in September and is organised as follow:

Course Modules
9 months of theory classes, study of expertise, and practical cases

The courses address both theory and real-life applications with a practical approach to real estate. They are taught from September to June by world renowned faculty and guest expert practitioners.

Term 1
Sep-Dec – Madrid
Real Estate Finance and Management
  • Real Estate Finance and Investments
  • Financial Accounting
  • Financial Management (I): Real Estate Consulting
  • Project Management in Practice for International Consultancy Projects
  • Sustainability and CSR in Real Estate
Real Estate Technology and Innovation
  • PropTech (I)
  • Real Estate Big Data and Analytics (I)
  • Smart Cities and Urban Design
  • Real Estate Software Design (Illustrator, Photoshop, InDesign, BIM)
Skills to Succeed in Real Estate
  • Negotiation and Problem Solving
  • Effective Communication and Pitch
  • Successful Recruiting
Skills to Succeed in Real Estate
  • 1-week field trip on «Hotel Operational Management» in a Spanish coastal city
Term 2
Jan-Mar – Madrid
Live Case Studies
  • Live Case Study Hospitality
  • Live Case Study Retail
  • Live Case Study Logistics
Real Estate Technology and Innovation
  • PropTech (II)
  • Real Estate Big Data and Analytics (II)
  • Digital and Business Transformation
  • Field Trip and Lab on RE Data Analytics: Paris
Real Estate Development and Investments
  • Introduction to Real Estate Development
  • Financial Management (II): RE Investment Funds
Real Estate Law, Heritage and Meeting the Experts
  • Real Estate Law
  • Culture, Heritage and Real Estate
  • BNP Paribas Real Estate Roundtables
    BNP Paribas Real Estate Logo
Term 3
May – London

The aim of this term is to enable you to continue your real estate studies in our ESCP Europe London Campus. There you will take courses on real estate development and meet leading professional in top notch real estate UK companies.

  • Real Estate Development by asset class
  • Field trip and site visits in London, UK
Term 4
  • International Consulting Project (ICP): Students work in small teams (minimum 2 - maximum 4 team members) as full time “external junior consultants” on real projects commissioned by companies for a period of 8 weeks
  • Company Internship – 4 months minimum
  • Master Thesis (based on ICP)

Professional mission
A professional mission in the form of an in-company internship of at least 4 months.

From mid-April to end December, you must complete an in-company internship of at least 4 months (though often lasting for 7-8 months). ESCP Europe assists you in locating internship opportunities and networking with companies.
The internship is an opportunity for practical application of the theoretical concepts learned from courses, with an eye to establishing a career. In many cases, corporate employers consider the internship as a trial period for a permanent position.  

The Corporate Relations Department

The Company Relations Department is dedicated to gather placement offers from many companies. The department also organises a series of fairs involving firms, giving you many opportunities to make contact.

Professional thesis
Writing and defending a professional thesis

The thesis is an applied research project in consultation with an academic advisor based on a professionally-oriented topic.
It is a chance for you to synthesise learned material through analysis of a particular corporate issue by using clear, detailed argumentation. The thesis marks the culmination of the degree and is orally presented to a committee at the end of the programme. It represents 30 of the total of 90 ECTS credits earned over the year.

Claudia Diego MACARELLI – Intern at BNP Paribas Real Estate Spain - ESCP Europe

Real estate education at ESCP Europe could not be any better. It provided me with the key quantitative and conceptual skills needed to make complex decisions required in the real estate finance sector. The program has a very practical approach. From the beginning you learn how to create financial models with Excel. There is also extensive use of real business cases and the opportunity to attend conferences of experts in the field. In addition, thanks to ESCP Europe's strong connection with the corporate world, I had the opportunity to do an internship at BNP Paribas Real Estate with subsequent career opportunities at the company.”
Master in Management Class 2019
Intern at BNP Paribas Real Estate Spain

Master of Science (MSc) in
Real Estate


  • A Bachelor or Master degree in any field of study
    Minimum 180 ECTS
  • Advanced English level: C1
    • TOEFL IBT: 100
    • TOEFL written: 600
    • TOEFL computer based: 250
    • IELTS: 7
  • 12 months of professional experience is recommended


Applications are examined in the order of their arrival; they must be submitted as early as possible. We have rolling admissions. After the application package has been reviewed by the Admission Committee, the candidate will be notified whether he/she will be invited for the admission exam and individual interview.

Step 1: Application form

Applications are made online. Please ensure that you take plenty of time with this form and answer all the questions therein as fully and thoughtfully as possible.

The main elements of the application include:
  • Detailed professional experience
  • Personal statements (cover letter)
  • 2 letters of reference (online form available in the application) - at least one has to be from a professional experience
  • An updated CV
  • English language test result (if applicable)
  • Copies of passport and university transcripts and degrees.

Please ensure that all required supporting documents are scanned and uploaded during the online application process.

Please note: you will still need to bring the originals to your admission interview. For full details of the application requirements, please see the online application. An application fee of €130 is required to cover processing of the application.

Step 2: Personal Interview & Exams

Students holding a TAGE-MAGE or a GMAT score and a TOEFL or a TOEIC listening and reading score or IELTS score (taken within the last two years) do not take the ESCP Europe written tests and must submit a copy of the results of these tests in their application file.

Candidates living outside of France and wishing to take the TAGE MAGE must apply through the FNEGE - Fondation nationale pour l'enseignement de la gestion des entreprises - to take this test.

Students not holding the standardized tests have to take the ESCP Europe entrance tests (SHL Test).

Candidates whose written application and admission exam are accepted will be invited for an individual interview, which plays an essential role in assessing the abilities and motivation for joining the program. Interviews take place from February to September each year.

Step 3: Confirmation

Admission decisions are sent out by email and post within two weeks of the Admissions interview. 
From the moment of the notification, students have a maximum of 10 days to pay the registration fees and thus, confirm their place.

Admission Calendar

Rolling admissions

From October

Admission Sessions

From November to September

Specialised Master® in
Real Estate
Fees & Financial

Application Fees

  • A payment of €130 for application fees payable to CCIP ESCP Europe.
    Please note that this is non-refundable.


The fees for the academic year 2020/2021 are set at €19,000 (for all students, both EU and non-EU).

Information on the payment methods for both the programme fees and application fee can be found in our online application form.

The programme tuition fees include:

  • In-class modules at ESCP Europe Madrid and London campus
  • A tutor guided International Consultancy Project
  • Learning materials
  • Career orientation & workshops

Fees do not include:

Travel, accommodation and living costs for sessions in Madrid and London are not included, nor accommodation, meals or extra expenses during field trip.

Loans & Bursaries

A programme such as the MSc in Real Estate is perhaps the most significant investment that you will make in your professional life and your future. Below are some options to help fund your time at ESCP Europe.


Offers two loan options for ESCP Europe students

Option 1: Master and Courses Loan
  • Loan holder: student or parent
  • Maximum amount: up to € 75,000
  • Interest rate: Euribor + 4%
  • Repayment period: up to 8 years
  • Fixed Opening Commission: 1,50%
Option 2: Master Blue Loan
  • Loan holder: student or parent
  • Maximum amount: up to € 50,000
  • Interest rate: First 6 months (Euribor + 0%), rest period (Euribor + 6%)
  • Repayment period: up to 10 years
  • Total lack of capital and interests: up to 24 months

More information

Banco Sabadell

Highlights of the ESCP Europe´s agreement with Banco Sabadell offers two ways of financing our degrees:

  • Tuition loan. Interest-free, short-term loan of up to 18,000€, to be repaid in 12 months
  • Loan. Long-term loan  to be repaid in a maximum of 10 years following the loan applications.

Bank Sabadell reserves the right to refuse the loan if, at the time of submission of the loan application, any circumstances pertaining the person(s) applying for the loan come to light that could alter the decision regarding whether to grant the loan.

More information


Any decisions regarding the loan itself are made by the banks in question and ESCP Europe does not have any say over or responsibility for their final decision. 
Conditions and requirements set by each bank and/or institution; students are responsible to go over this directly with them. ESCP Europe does not guarantee that the loans will be granted.