Commercial property markets in major cities of the world have experienced significant transformation by the global clamour for incorporation of sustainability in commercial buildings through the introduction of various local and international rating tools. The effect of this trend is the...

The global financial crisis was a sharp shock to real estate markets and while interest rates and government bond yields fell in response around the world, real estate yields (cap rates) have risen. The objective of this paper is to analyse the gap between government bonds (index-linked and long...

There has been a growing awareness of the importance and nature of property cycles. There is now a considerable and growing literature on the subject. However, much of this literature is focussed within individual countries and a review by Pyhrr et al (1999) makes a plea for further research...

The classic property market boom and bust is conceptualised as a short term adjustment process generated by the interaction of occupation demand, the business cycle, the national credit cycle and supply lags consequent on the development cycle. An alternative perspective views the process...

ERES:conference

The last three decades have seen substantial change in real estate portfolios of financial institutions. This paper begins by first charting this restructuring of the institutional real estate portfolio between industrial, offices and retail classes over the last thirty years in the UK. This...

Interest in international property investment can be traced back to the early 1970s with the collapse of the Bretton Woods fixed exchange rate system, the oil price shock of 1973 and the need to recycle petroleum wealth, all of which marked a sea-change in the global economy (Worzala, 1994:...