In recent years there has been an increased interest in the extent to which managers can improve their property portfolio position through international diversification. Much of this interest has centred on the use of various statistical/econometric tests of time-varying correlations and...

Recent years have seen increased attention given to the real estate investment opportunities available from the non-traditional real estate sectors such as self-storage, healthcare, and other specialty real estate sectors. In particular, these non-traditional real estate sectors in equity REITs...

As the relative capital value of major real estate investment grows, and investment risk continues to centralise, the requirement to diversify this risk through shared ownership has increased. This international trend toward increased co-ownership has been manifested in cross border...

This paper presents a study of asset price volatility, correlation trends and market risk-premia. Recent evidence (Campbell 2001) shows an increase in firm-level volatility and a decline of the correlation among stock returns in the US. We find that, in relation to the Euro-Area stock markets,...