This paper tests the dynamics implied by a supplied-constrained view of the relationship between market fundamentals and house prices in the case of Seoul's housing market. The view is that supply constraints have led to serious shortages in certain submarkets, and that these shortages have led...

Is setting up a real estate investment trust (REIT) regime a zero-sum game? Using a unique set of institutional real estate investment data from 146 countries (including 59 countries with a REIT regime) for 2001 to 2014, we find significant increases in investments in local real estate markets...