Informationally efficient prices are a necessary requirement for optimal resource allocation in the real estate market. Prices are informationally efficient if they reflect buildings’ benefit to marginal buyers, thereby taking account of all available information on future market development....

As is well established, commercial real estate is a highly specific asset: heterogeneous, indivisible and with less information transparency than most other commonly held investment assets. These attributes negatively affect the liquidity of real estate and encourage the use of intermediaries...

Informationally efficient prices are a necessary requirement for optimal resource allocation in the real estate market. Prices are informationally efficient if they reflect buildings' benefit to marginal buyers, thereby taking account of all available information on future market development....

The life cycle of individual commercial and industrial buildings has a major impact on the form and functioning of towns and cities and is an important consideration for building owners and occupiers. During this life cycle, buildings may experience physical deterioration and obsolescence, the...