Press articles in Germany that predicted a severe decline in property prices within certain regions caused by demographic developments have recently served to undermine the people's sense of security. This lead to an intense debate if and to what extent property price trends are affected by...

Real estate is considered more and more as an asset class that has to compete with other financial investment options like stocks and bonds. Additionally, real estate is often included in multi-asset portfolios for diversification purposes since academic research suggests that real estate...

Sustainability continues to gain relevance in the real estate sector. More and more owners and investors are requesting information and advice concerning sustainability features of their properties. This development represents a challenge to property valuation. Valuation professionals are...

In the absence of appropriate comparable sales data property valuation literature suggests building up the capitalisation and/or discount rate starting from a risk free rate. In response to this need the basic purpose of this paper is to explore and explain actual returns in different property...

The interests in sustainable building in terms of energy and ressource saving, healthy and cost efficient planning, construction and management, have been gaining meaning in recent past. Increasing energy prices and changing societies characterize the requirements on planning and building in the...

There is a nameable number of stakehoders involved in planning, constructing and operating buildings. Moreover the participants in the stakeholders' group vary from one project to another. Each one of these stakeholders is - more or less - capable of taking influence in the implementation of...

Nowadays in many European regions the property market has already been changing from a supplier to a demander market. Shrinking and aging of the population on one hand and fast changes of working processes in the service sector on the other will lead to changing requirements on buildings in...

To reach their corporate goals housing companies have to recognise, assess and control risks both on a strategic and on an operative level, and to make use of the chances offered, respectively. This is the general purpose of risk and portfolio management. The overall risk of real estate is...

The importance of real estate risk management has increased recently since formerly public-owned housing companies try to act more professionally and Basel II has imposed new requirements on the credit grantors who pass them on. Therefore many companies already have established a risk management...