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Real options in real estate development
Lucius, Dominik I. - In: Journal of Property Investment & Finance 19 (2001) 1, pp. 73-78
The interpretation and valuation of real options by means of options pricing theory can be regarded as a relatively new … paradigm of investment theory. Option pricing theory based investment valuation represents a sound theoretical basis and offers …
Persistent link: https://www.econbiz.de/10014897992
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Option pricing for real estate development: Hong Kong Disneyland
Leung, Barbara Y.P.; Hui, Eddie C.M. - In: Journal of Property Investment & Finance 20 (2002) 6, pp. 473-495
arising from the interactions of the operating and strategic flexibility during the course of a project. Option pricing theory … options that may create added value to the project. A binomial option pricing model is proposed that estimates the potential …
Persistent link: https://www.econbiz.de/10014898032
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Oligopolistic bidding and pricing in real estate development
Eng Ong, Seow; Jam Cheng, Fook; Boon, Boaz; Foo Sing, Tien - In: Journal of Property Investment & Finance 21 (2003) 2, pp. 154-189
Real estate developers often operate in oligopolistic environments. Pricing strategies must be made in an interactive … bidding for land and pricing the end product is examined. The results indicate that competitor actions are important … considerations in pricing decisions. In particular, the profit maximizing pricing strategy depends critically on being competitive …
Persistent link: https://www.econbiz.de/10014898043
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Property price indices in the Commonwealth
Kim Lum, Sau - In: Journal of Property Investment & Finance 22 (2004) 1, pp. 25-54
This paper examines commonly used property price indices in several Commonwealth countries. It finds that many of the measures may be flawed owing to two issues relating to the index construction methodology: the quality change problem and the choice of an index number algorithm. Using data that...
Persistent link: https://www.econbiz.de/10014898059
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Real option premium in Hong Kong land prices
Chiang, Yat‐Hung; Joinkey So, Chun‐Kei; Stanley … - In: Journal of Property Investment & Finance 24 (2006) 3, pp. 239-258
traditional hedonic pricing method as well as the option model modified from Quigg. The results are compared to deduce whether …
Persistent link: https://www.econbiz.de/10014898133
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Underpricing of European property companies and the IPO cycle: a note
Freybote, Theo; Rottke, Nico; Schiereck, Dirk - In: Journal of Property Investment & Finance 26 (2008) 5, pp. 376-387
Purpose – The purpose of this paper is to provide evidence for the ongoing significant underpricing of European property IPOs. Design/methodology/approach – The paper provides recent evidence on underpricing for a comprehensive data set of 105 IPOs of European property companies. It starts...
Persistent link: https://www.econbiz.de/10014898208
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Estimating the market value of a proposed townhouse development
Janssen, Christian; Yang, Zan - In: Journal of Property Investment & Finance 17 (1999) 5, pp. 501-516
An appraisal by an accredited appraiser is often necessary before a proposed development can receive a commitment for financing from a financial institution. Such pre‐construction appraisals are often more difficult to complete than those where the subject property is already developed and...
Persistent link: https://www.econbiz.de/10014898400
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The significance and performance of Singapore REITs in a mixed-asset portfolio
Wurstbauer, Daniel; Schäfers, Wolfgang - In: Journal of Property Investment & Finance 33 (2015) January, pp. 19-19
Purpose – Similar to real estate, infrastructure investments are regarded as providing a good inflation hedge and inflation protection. However, the empirical literature on infrastructure and inflation is scarce. Therefore, the purpose of this paper is to investigate the short- and long-term...
Persistent link: https://www.econbiz.de/10011165595
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The impact of lease structures on the optimal holding period for a commercial real estate portfolio
Amédée-Manesme, Charles-Olivier; Baroni, Michel; … - In: Journal of Property Investment & Finance 33 (2015) February, pp. 121-121
Purpose – The purpose of this paper is to demonstrate the impact of lease duration and lease break options on the optimal holding period for a real estate asset or portfolio. Design/methodology/approach – The authors use a Monte Carlo simulation framework to simulate a real estate asset’s...
Persistent link: https://www.econbiz.de/10011165599
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Outperforming the benchmark: online information demand and REIT market performance
Rochdi, Karim; Dietzel, Marian - In: Journal of Property Investment & Finance 33 (2015) February, pp. 169-169
Purpose – The purpose of this paper is to investigate whether there is a relationship between asset-specific online search interest and movements in the US REIT market. Design/methodology/approach – The authors collect search volume (SV) data from “Google Trends” for a set of keywords...
Persistent link: https://www.econbiz.de/10011165603