University of Technology Sydney

12002 Global Property Trends

Warning: The information on this page is indicative. The subject outline for a particular session, location and mode of offering is the authoritative source of all information about the subject for that offering. Required texts, recommended texts and references in particular are likely to change. Students will be provided with a subject outline once they enrol in the subject.

Subject handbook information prior to 2022 is available in the Archives.

UTS: Design, Architecture and Building: School of the Built Environment
Credit points: 6 cp

Subject level:

Postgraduate

Result type: Grade and marks

There are course requisites for this subject. See access conditions.

Description

This subject offers students the opportunity to develop in-depth knowledge of the real estate and construction markets in three major Asian cities through in-depth, on-site case studies led by key property firms, focusing on current complex development projects. The importance of understanding real estate markets from global perspectives is manifested in the fact that real estates are no longer a local business but operate on a global basis. Development of smart cities, intelligence in project development, and globalised real estate investment funding sources are constantly challengeable for today's postgraduate education in real estate. The unique case study approach in this subject ensures students develop a well-rounded and comparative understanding of the property development, planning, and project management challenges and opportunities in the selected most vibrant global cities.

Students travel to several case study locations during a two-week period and complete assignments on their return.

Subject learning objectives (SLOs)

On successful completion of this subject, students should be able to:

1. Understand the processes of property development, planning, or project management in an international context.
2. Understand the diverse drivers of property development, project management, and / or planning decisions.
3. Critically assess the reasons for the relative success or failure of specific development projects, from the point of view of project management, planning and regulation, or development feasibility and market risk.

Course intended learning outcomes (CILOs)

This subject also contributes to the following Course Intended Learning Outcomes:

  • Work effectively in culturally diverse contexts (A.2)
  • Effectively apply a variety of communication skills and technologies in professional contexts (C.1)
  • Apply a comprehensive understanding of property market drivers and key risk analysis techniques applicable to contemporary industry based practice (P.3)
  • Synthesise knowledge related to a wide spectrum of property and asset management issues to the analysis of practice based property portfolio scenarios (P.6)
  • Demonstrate knowledge of research principles and methods applicable to property development (R.1)

Contribution to the development of graduate attributes

Teaching and learning strategies

This subject introduces students to the drivers and outcomes of global property trends, using industry case-based analysis in three Asian cities. This class is conducted abroad, and involves visits to major property firms and site visits to significant current development projects in three cities over a two week period. Students choose which two weeks they will attend of the full program (shown below).

During the study abroad tour, students have the opportunity to meet and discuss various topics on real estate markets, development process, urban planning and project financial arrangements with leading real estate developers, analysts and consultants. While presentations from senior corporate executives will provide valuable insight of each project, discussions during and Q&A sessions thereafter will provide a comprehensive feedback for student’s learning. Detailed information for project/case studies in the study tour will be uploaded online for student’s access. Students will learn real estate business through active and collaborative learning with peers, corporate executives and teaching staff during the study tour. The learning and experience are unique and won’t be obtainable in a classroom setting.

On return, students will provide two assessment reports and make a verbal or video presentation to the subject coordinator. Marks and feedback on the first two assignment reports will be provided by the teaching staff in writing. The third assignment will be marked by the subject coordinator. Both verbal and written feedback on student’s final presentation work will be provided at completing the final assignment.

Assessment

Assessment task 1: Critical Case Study 1

Intent:

This task asks you to reflect critically on one of the projects you have visited on the study tour. In order to do this, you need to adopt one of the following critical perspectives:

1. The perspective of an investor evaluating the acquisition of the project in 2017

2. An historical perspective evaluating how the development process and project financial return could have been improved at the time the project was developed

3. The perspective of a city planner evaluating how the project concept could have been revised to improve its contribution to urban policy goals (e.g. connectivity, sustainability)

4. The perspective of a project manager evaluating how the management of the project development could have been improved to minimize risk and streamline the process.

This critical perspective will inform how you design your case study analysis. For instance, if you take perspective 1 or 2, you would probably need to include a feasibility analysis in your report. If you take perspective 3 you would need to have a detailed understanding of urban policy documents and be able to use evidence to evaluate the project's shortfalls against these policy goals. For perspective 4, you would need to have access to information about the project management process and the distribution of risks.

Objective(s):

This task addresses the following subject learning objectives:

1, 2 and 3

This task also addresses the following course intended learning outcomes that are linked with a code to indicate one of the five CAPRI graduate attribute categories (e.g. C.1, A.3, P.4, etc.):

C.1, P.3, P.6 and R.1

Type: Report
Groupwork: Individual
Weight: 40%
Length:

3,000 to 5,000 words

Criteria linkages:
Criteria Weight (%) SLOs CILOs
Quality of description of project and context 20 1 P.6
Depth of analysis based on critical perspective 30 3 P.3
Ability to use evidence effectively to support analysis 25 2 R.1
Professional quality of writing and report presentation 25 3 C.1
SLOs: subject learning objectives
CILOs: course intended learning outcomes

Assessment task 2: Critical Case Study 2

Intent:

In this task you are asked to critically assess a case study project from a different city than you focused on in assessment task 1.

In order to do this, you need to adopt one of the following critical perspectives:

1. The perspective of an investor evaluating the acquisition of the project in 2017

2. An historical perspective evaluating how the development process and project financial return could have been improved at the time the project was developed

3. The perspective of a city planner evaluating how the project concept could have been revised to improve its contribution to urban policy goals (e.g. connectivity, sustainability)

4. The perspective of a project manager evaluating how the management of the project development could have been improved to minimize risk and streamline the process.

This critical perspective will inform how you design your case study analysis. For instance, if you take perspective 1 or 2, you would probably need to include a feasibility analysis in your report. If you take perspective 3 you would need to have a detailed understanding of urban policy documents and be able to use evidence to evaluate the project's shortfalls against these policy goals. For perspective 4, you would need to have access to information about the project management process and the distribution of risks.

Objective(s):

This task addresses the following subject learning objectives:

1, 2 and 3

This task also addresses the following course intended learning outcomes that are linked with a code to indicate one of the five CAPRI graduate attribute categories (e.g. C.1, A.3, P.4, etc.):

C.1, P.3, P.6 and R.1

Type: Report
Groupwork: Individual
Weight: 40%
Length:

3,000 to 5,000 words

Criteria linkages:
Criteria Weight (%) SLOs CILOs
Quality of description of project and context 20 1 P.6
Depth of analysis based on critical perspective 30 3 P.3
Ability to use evidence effectively to support analysis 25 2 R.1
Professional quality of writing and report presentation 25 3 C.1
SLOs: subject learning objectives
CILOs: course intended learning outcomes

Assessment task 3: Reflective Essay or Video

Intent:

In this task you are asked to reflect on what you learnt about global property trends during the study tour. You should incorporate a broader perspective on major economic, social and political trends that affect the property markets you visited, an evaluation of how the challenges these trends highlight are being addressed (or not), and a discussion of how current trends are likely to evolve in the future. How do these insights inform your future professional role?

Objective(s):

This task addresses the following subject learning objectives:

1, 2 and 3

This task also addresses the following course intended learning outcomes that are linked with a code to indicate one of the five CAPRI graduate attribute categories (e.g. C.1, A.3, P.4, etc.):

A.2, C.1, P.6 and R.1

Type: Presentation
Groupwork: Individual
Weight: 20%
Length:

up to 2,000 word essay with a 5 minute powerpoint presentation, or a six minute video accompanired by an executive summary of up to 500 words.

Criteria linkages:
Criteria Weight (%) SLOs CILOs
Depth of insight and thoughtfulness of analysis 30 3 P.6
Ability to relate analysis to your discipline 30 2 A.2
Effective use of supporting evidence for your argument 20 3 R.1
Clarity and quality of presentation of argument 20 1 C.1
SLOs: subject learning objectives
CILOs: course intended learning outcomes

Recommended texts

It is recommended that those who are new to the Property development field read Parts 4 and 5 of the following text (a required text for 15142, The Property Development process):

John Ratcliffe, Michael Stubbbs, and Miles Keeping. 2009. Urban Planning and Real Estate Development (3rd edition). LOndon: Routledge.

For real estate investment, it is recommended to read

Geltner, Miller, Clayton and Eichholtz. 2014. Commercial Real Estate Analysis and Investments (3rd ed.). Mason, OH: OnCourse Learning.

Other resources

A list of recommended current readings is available on UTS Online; you are encouraged to expand your reading beyond this.