Showing 1 - 10 of 49
[abstract missing - contribution appeared in the programme]
Persistent link: https://www.econbiz.de/10010800023
Risk diversification is important to all investors. However, commercial real estate investors in the UK tend to concentrate their holdings in relatively few properties; as a consequence they are vulnerable to significant risk of underperforming the overall market or a target rate of return....
Persistent link: https://www.econbiz.de/10010834152
This study investigates the extent to which returns from the listed real estate sector are related to returns in the direct real estate market for the US and for six European countries: France, Germany, the Netherlands, Sweden, Switzerland and the UK. Past research has often used valuation based...
Persistent link: https://www.econbiz.de/10010799555
In 2005, a research team from the University of Reading and Investment Property Databank funded by the IPF/IPF Education Trust produced a set of depreciation rates for the UK property investment market including rental depreciation rates and the extent of capital expenditure necessary to keep...
Persistent link: https://www.econbiz.de/10010800224
This paper extends work that was funded by the UK Investment Property Forum over the last 8 years and which used longitudinal methods to measure rental value depreciation rates for commercial properties in the IPD UK annual database.Past work has concentrated on measuring rates of depreciation...
Persistent link: https://www.econbiz.de/10010800576
The present value model states that the price of an asset is equal to the properly discounted future cash flows generated by this piece of asset. This view needs to be modified in real estate markets. Agents in a real estate market can be broadly divided into those who buy to use and those who...
Persistent link: https://www.econbiz.de/10010834210
As is well established, commercial real estate is a highly specific asset: heterogeneous, indivisible and with less information transparency than most other commonly held investment assets. These attributes negatively affect the liquidity of the asset and encourage the use of intermediaries...
Persistent link: https://www.econbiz.de/10010834229
In this paper, we propose and implement the concept of Liability Driven Investment within the context of defined contribution pension funds, which do not have implicit liabilities. We adopt a transitional approach, by moving from a one period mean variance analysis through to a dynamic...
Persistent link: https://www.econbiz.de/10010834314
Studies of the patterns of risk and returns in commercial property and of the application of portfolio theory in real estate typically have based their analysis on data aggregated by geography and sector. Thus, for example, UK studies seeking to identify ways of structuring a real estate...
Persistent link: https://www.econbiz.de/10010834374
A considerable body of research exists on how office rents and vacancy rates adjust in response to changes in demand and supply. In particular, recent research has settled upon an Error Correction Model (ECM) approach for investigating how adjustment occurs. Some recent studies have applied an...
Persistent link: https://www.econbiz.de/10010834602