Ungefähr 40 Prozent des gesamten Endenergieverbrauchs in Deutschland entfallen auf den Gebäudesektor. Gleichzeitig gilt die Steigerung der Gebäudeenergieeffizienz als eine der kosteneffektivsten Optionen zur Einsparung von Treibhausgasen. Um dieses Potential auszuschöpfen, wurde der...

Die Entwicklungen an den Kapitalmärkten und die Immobilienfinanzierung sind untrennbar miteinander verbunden. Durch den hohen Fremdkapitalbedarf gewerblich und privat genutzter Immobilien hat die Finanzierung eine entscheidende Bedeutung für die Funktionsfähigkeit und die Stabilität des...

Globally, real estate trade is highly regularized. Usually, the market value is not negotiated simply between the seller and potential buyer but based on an assessment performed by a professional valuer, known as a surveyor or appraiser. This paper inquires about the economic role of valuers in...

This paper studies the geography of competition on Moscow commercial real estate market. We estimate the elasticity of office rental price to the prices of competing objects as a function of the geographical distance. We found that office real estate market in Moscow, although saturated, is...

How far do China’s property prices need to drop in order to send the country into a recession? What does this question tell us about the way Bubble Economies work? In this paper, we develop a theory of Bubble Economics – non-linear and often “systemic” (in the mathematical sense of the...

We explore the effects of mandatory third-party review of mortgage contracts on the terms, availability, and performance of mortgage credit. Our study is based on a legislative experiment in which the State of Illinois required 'high-risk' mortgage applicants acquiring or refinancing properties...

Im Rahmen ihrer Koalitionsverhandlung hat sich die neue Bundesregierung auf eine Mietpreisbremse verständigt, um der vermuteten Preisexplosion auf dem Wohnungsmarkt entgegenzuwirken. Entgegen dieser Einschätzung kommen wir zu dem Ergebnis, dass die Nettokaltmieten in Deutschland in den...

Restrictions on new constructions and modernisations occur in almost all countries and numerous regulations apply in Germany. This article outlines regulations regarding the protection of historical buildings, restoration law and preservation statutes and describes compensatory subsidies...

This paper analyzes whether predominantly non-listed corporations in the residential property industry systematically adjust their capital structure to changing financing requirements. Since previous research almost exclusively focused on listed companies, little is known about the...

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...