In this paper we discuss the pricing of commercial real estate index linked swaps (CREILS). This particular pricing problem has been studied by Buttimer et al. (1997) in a previous paper. We show that their results are only approximately correct and that the true theoretical price of the swap is...

The author constructs a theoretical model to examine the effects of an inherent conflict of interest between a seller of a house and the real estate broker hired by the seller. The model is then used to calibrate the broker’s commission rates that would maximize the seller’s expected gain....

The volume of MHL (Rb 905,935bn) extended within three quarters of 2013 exceeded by 29% the volume of loans extended in the respective period of 2012. With growth in lending volumes, a decrease in the overdue debt on MHL extended in rubles to 1.15% of the outstanding debt as of October 1, 2013...

The purpose of this paper is to investigate the effect of energy consumption on the financial performance of German residential buildings in a large panel framework. The authors provide evidence that energy efficiency in the residential sector is a relevant factor affecting both tenant...

In the present paper an empirical analysis will point out that although Property Tax does not worsen income distribution, on the contrary, it increases poverty risk. The sample covers EU. The elaboration of these panel data is made feasible by means of the Eviews software package

According to the data of the Central Bank of the Russian Federation, in January-August 2013 Rb 784,924bn worth of mortgage housing loans were extended which figure exceeds 1.28 times over the volume of lending in the respective period of 2012. As of September 1, 2013, the outstanding debt of Rb...

In the present paper author will attempt to show empirically that property taxation causes depression even in the long run. Hence, the view of OECD (2009) that property taxation will persuade investors to avoid to invest in safe assets (houses) and to invest instead in more productive assets in...

In the present paper an empirical analysis will point out that Property Tax does not worsen income distribution. The sample covers EU. The elaboration of these panel data is made feasible by means of the Eviews software package

This paper establishes a general model to explore the mechanism through which bank competition affects real estate market and consumer welfare. The model combines three sections, including a representative consumer, an oligopoly real estate industry, and a banking industry. It predicts that...

In Q2 2013, the monthly weighted average interest rate on ruble-denominated housing mortgage loans was no longer on the rise, after a more than year-long period of growth: the interest rate for June was 12.6% against its record high of 12.9% in March 2013. The volume of housing mortgage lending...