Choosing the optimal holding period is an important part of real estate investment decisions, because “when to sell” affects “whether to buy.” This paper presents a theoretical model for such decision making. Our model indicates that the optimal holding period is affected by both...

This paper re-examines and extends the findings of Bond et al., Journal of Real Estate Finance and Economics, 34, 447-461, (2007) who consider the theoretical model of Lin and Vandell, Real Estate Economics, 35, 291-330, (2007) to determine the extent to which individual real estate asset return...