The recent real estate bubble was fuelled by non-risk adjusted lending policies, low interest rates and complex finance vehicles. Mortgage-backed securities (MBS) played a crucial role in the crisis. These vehicles were praised as liquid capital market instruments that allowed mortgage lenders...

"Where US real estate markets are relatively liquid and developed, the same investment strategies are less effective in the European context. Where many studies provide a set of specialized studies on specific European real estate asset classes, there are few which consider all asset classes...