For most people, buying a home is their single largest financial commitment. Previous research shows that Chinese buyers pay less for homes with unlucky addresses and more for homes with lucky addresses. Using Singapore data on housing transactions combined with a plethora of individual buyer...

Is setting up a real estate investment trust (REIT) regime a zero-sum game? Using a unique set of institutional real estate investment data from 146 countries (including 59 countries with a REIT regime) for 2001 to 2014, we find significant increases in investments in local real estate markets...

There is no conclusive evidence in the existing literature to show that green buildings save more energy than conventional buildings. Why do buyers pay premiums for green buildings? This study empirically examines whether the “Green Mark” (GM) certification is either a signal for energy...

Since 1998, Singapore has had an Electronic Road Pricing (ERP) system set up with a network of toll gantries to tax vehicles entering designated areas in the city center during peak hours. Using the congestion rate hike with effect from November 1, 2010 as an exogenous shock, we test the effects...

This study uses the opening of the new Mass Rapid Transit (MRT) line, known as the Circle Line (CL), in stages between 2010 and 2012 in Singapore as the exogenous event to empirically test the impact of the new CL on housing wealth of households. Applying a “differences-in-differences”...

For most people, buying a home is their single largest financial commitment. Previous research shows that Chinese buyers pay less for homes with unlucky addresses and more for homes with lucky addresses. Using Singapore data on housing transactions combined with a plethora of individual buyer...

The primary aim of this research is to compute implied volatility based on a stochastic contingent claim valuation model proposed by Dixit and Pindyck (1994). Over the sample period of 1984 to 1997, and with approximately 20,000 commercial property transactions in the UK, we find that implied...

For most people, buying a home is their single largest financial commitment. Previous research shows that Chinese buyers pay less for homes with unlucky addresses and more for homes with lucky addresses. Using Singapore data on housing transactions combined with a plethora of individual buyer...

This paper uses the Markov Switching VAR model to examine the dynamics relationships between stock returns and housing returns in the US covering the periods from 1987 to 2017. The results show significant regime-dependent auto-correlations in stock and housing returns in both the high...

Can children effectively nudge their parents to change their energy consumption behavior? This study sets up a quasi-experiment using the “Project Carbon Zero” campaign, an energy-saving contest in Singapore, to empirically test the effectiveness of school children nudges in bringing...