Property Income Courses
for Considered Investors
Three programmes, each designed to be taken at a moment that matches where you are in your thinking — from first contact with REITs to a detailed allocation review.
← Back to HomeOur Approach
Each Pavilion Vault course is built around a simple proposition: that understanding the structure of a financial instrument precedes any sensible judgement about whether it belongs in your portfolio. We do not begin with recommendations and work backward. We begin with mechanisms and work forward.
This means early sessions in every course are deliberately unhurried. We spend time on how different property income vehicles are legally constituted, what drives their distributions, and what the differences between vehicle types mean in practice. The more evaluative and personal material comes later, once the foundations are in place.
The progression across the three courses follows the same logic. The introduction is about understanding REITs as a category. The six-week programme broadens that to the full landscape of property income vehicles. The pre-retirement course assumes that understanding and asks harder questions about how all of it fits together.
What to Expect
Enrol and receive materials
Before the first session, participants receive an outline and a short reading list. Nothing is required, but those who read find the early sessions easier to navigate.
Attend weekly sessions
Evening or Saturday morning sessions at our Tsim Sha Tsui office. Each session is 90 to 120 minutes, with structured time for questions.
Work through the exercises
Between sessions, exercises prompt participants to apply what was covered. The longer programmes include written frameworks for personal analysis.
Leave with something useful
Materials are yours to keep. The ten-week course concludes with a completed allocation review document specific to each participant's situation.
REITs: A Careful Introduction
HKD 1,680A four-week course for midlife Hong Kong investors who want to understand Real Estate Investment Trusts before considering them in their own portfolios. Topics include how REITs differ from direct property ownership, the distribution requirements that shape their behaviour, the difference between Hong Kong-listed REITs, Singaporean S-REITs, and US-listed REITs relevant to Hong Kong investors, and the common misunderstandings around REIT yields. No present-day recommendations are made.
What the course covers:
- How REITs are legally structured and why it matters
- Distribution requirements and what drives yield
- HK-listed REITs versus S-REITs versus US-listed REITs
- Common yield misunderstandings addressed directly
- How to read a basic REIT prospectus
Property Income Beyond Direct Ownership
HKD 2,480A six-week programme for those who want to think about property income as a portfolio component without the operational demands of direct landlordship. Modules cover REITs, listed property companies, property ETFs, and private property funds — including the cost, liquidity, and tax differences among them. Participants work through a written comparison exercise using historical information.
Programme modules:
- REITs revisited: structure, costs, and liquidity
- Listed property companies vs REIT structures
- Property ETFs: access, diversification, and cost
- Private property funds: characteristics and limitations
- Tax and currency considerations across vehicle types
- Written vehicle comparison exercise (you keep this)
Property Allocation for the Pre-Retirement Portfolio
HKD 3,180A ten-week programme for learners approaching retirement who want a thoughtful view of the property component in their overall allocation. Modules cover the interaction between a primary residence and portfolio property exposure, diversification across geography and property type, currency considerations for offshore property vehicles, and the practical question of how property income changes when one's working income stops. Each participant leaves with a written allocation review.
Ten-week curriculum:
- Primary residence as part of total property exposure
- Geographic and sector diversification in listed property
- Currency risk in offshore property vehicles
- Income transition: when working income stops
- Allocation principles for the pre-retirement period
- Written allocation review document (yours to keep)
Choosing the Right Course
A quick comparison to help you identify where to start.
| Feature | Intro HKD 1,680 |
Intermediate HKD 2,480 |
Pre-Retirement HKD 3,180 |
|---|---|---|---|
| Prior knowledge required | None | Basic familiarity | Course 1 or equivalent |
| Duration | 4 weeks | 6 weeks | 10 weeks |
| Written exercise | |||
| Allocation review document | |||
| Covers S-REITs | |||
| Best for | New to REITs | Exploring options | Nearing retirement |
Not sure where to start? Get in touch and we will help you identify the most suitable course.
What All Courses Share
No Product Placement
No financial institution sponsors our courses. No specific investment products are recommended inside sessions or in any accompanying materials.
Historical Data Only
All data and examples used in sessions are historical. We do not make projections or represent past performance as indicative of future results.
Participant Privacy
Contact information collected during enrolment is used only for programme administration. It is not shared with any financial institution or third party.
Cohort Feedback
Each cohort ends with a short written feedback process. Results are used to refine pacing and content depth in subsequent intakes.
Clear Scope
Educators are explicit about the boundary between educational content and regulated financial advice. Questions that cross that line are handled respectfully and redirected.
Reviewed Curriculum
All factual content is reviewed before each cohort opens to ensure it reflects current market structures and any relevant regulatory changes.
Course Fees
REITs: A Careful Introduction
- 4 weekly sessions
- Course materials and reading list
- Small cohort format
- Future session revisit option
Property Income Beyond Direct Ownership
- 6 weekly sessions
- Course materials and reading list
- Written vehicle comparison exercise
- Small cohort format
Property Allocation for the Pre-Retirement Portfolio
- 10 weekly sessions
- Full course materials and reading list
- Written allocation review document
- Small cohort format
Not Certain Where to Begin?
We are happy to have a brief conversation to help you identify which course would make the most sense as a starting point.
Get in Touch