This paper describes the development of the European universe of non-listed real estate companies. For decades non-listed real estate vehicles have been famous for their lack of transparency, limited size and their complicated structures. Over the last fifteen years more and more of the vehicles...

In the Netherlands, and indeed elsewhere in Europe, homeownership (rates) and housing consumption has increased over time. On basis of repetitive cross-section analysis one can conclude that homeownership rates are lower for younger and older people, while people aged in-between are...

In this paper we explore corporate real estate ownership internationally. Based on a sample of 4,636 companies from 18 industries and 9 countries we document distinct patterns and trends in the corporate ownership level of real estate. Real estate ownership appears to be driven by industrial...

Does homeownership benefit neighborhoods? We analyze two specific positive externalities of homeownership in neighborhoods: perceived safety and neighborhood satisfaction. Our analysis addresses two important questions: ëHow does the causal relation run between homeownership-rates and...

This study explores real estate allocation in the investment portfolio decision from the position of an institutional investor, specifically a pension fund. We apply Sharpe and Tintís (1990) investment framework with an explicit link between investment opportunities and pension-plan...

Real estate research has a long and extensive history of analyzing rent dynamics. Due to data availability constraints the retail market has been the least researched segment of main real estate sectors, despite its import role within the real estate universe (in the US for example the overall...

This paper investigates liquidity differences between property shares and common stocks in Australia, the United Kingdom and the United States over the period 1990-2004. This paper is first to analyze liquidity by the use of trading velocity, a ratio which measures the actual traded portion of...

Energy labels have proven to be an effective means for nudging households to make sustainable choices. The label information regarding future energy use has inspired consumers around the world to opt for more energy efficient cars to commute to work and to select more efficient appliances at...

Given the local character of real estate market, real estate investments have always been identified as an opportunity for diversifying internationally. Low international coherence can reduce the risk of both private and professional multi asset investment portfolios. Early research confirmed,...

In this paper we analyze the persistence of US REITs over the period 1990-2005. By employing a novel methodological approach we shed new light on whether investors can pick winners by simply looking at past performance. The private real estate industry is notorious for its lack of informational...