Baroni, Michel; Barthélémy, Fabrice; Mokrane, Mahdi - Théorie Économique, Modélisation, Application … - 2006
This paper considers the use of simulated cash flows to determine the optimal holding period in real estate portfolio to maximize its present value. The traditional DCF approach with an estimation of the resale value through a growth rate of the future cash flow does not let appear this optimum....