Selbstgenutzte Immobilien sind in der privaten Altersvorsorge über das Entnahmemodell bislang nur unzureichend berücksichtigt worden. Als ein wesentliches Hindernis für die vollständige Integration gilt dabei die Unvereinbarkeit von Konsumgutmodell und nachgelagerter Besteuerung. Wie kann...

Bei der Einführung der gesetzlichen Rentenversicherung im Jahre 1957 als Zwei-Generationenvertrag zwischen Rentnern und Erwerbspersonen wurde die Kindererziehung weitgehend unberücksichtigt gelassen. Neben der Finanzierung der laufenden Renten durch die Erwerbstätigen basiert das Rentensystem...

Due to demographic changes, housing markets in Germany differentiate notably. Frequently, shrinking and booming cities are located closely to each other, as in the cases of Wuppertal, Cologne and Dusseldorf. In order to enhance economic efficiency and prevent the demolition of buildings in some...

Home ownership rates in Germany have increased substantially in recent years. However, the rate still remains on a very low level and shows significant differences across regions. The reasons for these differences and the last developments are not clear. Generally, the decision between renting...

Commercial properties play a central role in economics. They are the most important real estate investment class for institutional investors, even more important than the housing market. On the other hand corporations and self-employed people consider commercial properties as input factors, for...

Using a panel data approach the relevance of labour market fluctuations for rents and vacancy rates in the German office property market are investigated. Based on occupational labour market data the number of office workers in Germany and in the 20 biggest cities is thereby calculated. For the...

"Using panel data augmented Fama-Schwert regressions this study analyses the inflation hedging properties of different types of real estate assets. The results reveal that real estate equities like other equities, too, do not provide any hedge against inflation. Moreover, the correlation is...

Due to globalisation and monetary integration the macroeconomic conditions for industrial countries have become more and more equally. Based on a factor analysis we examine if the synchronisation of business cycles also affected the co-movement of house prices in OECD-countries for the period of...