ERES:conference

ERES:conference

There is a great deal of variation in the ëprimeí or ëGrade Aí rents achieved in different cities across the world. The level of economic development, as proxied by GDP or GDP per capita is an important explanator, but it is by no means the only one. Many cities in advanced nations have...

ERES:conference

ERES:conference

Industrial or commercial tenancies incur costs to the tenant which are both directly and inversely related to the length of the tenancy. From optimisation theory, the result of this is that there is a unique optimum tenancy length for each tenant at each location, and tenants will be willing to...

The application of real options theory to commercial real estate has developed rapidly during the last 15 Years. In particular, several pricing models have been applied to value real options embedded in development projects. In this study we use a case study of a mixed-use development scheme and...

Previous research has focused on the link between returns in the REIT industry, the stock market and the housing market. However, none, so far, have examined the possibility of bubble spillovers from either of the markets to the securitised real estate market. In this paper, we test for the...

ERES:conference

One of the most vexing issues for analysts and managers of property companies across Europe has been the existence and persistence of deviations of Net Asset Values of property companies from their market capitalisation. The issue has clear links to similar discounts and premiums in closed-end...