interdependence and systematic risk of nine Asian securitized real estate markets: Australia, China, Hong Kong, Japan, Malaysia … indicate that both the co-movement relationship and sector's systematic risk are time-varying and heterogeneous at different …, as scale increases. Moreover, the systematic risk (beta) coefficients of the real estate markets increase during the …

predicts higher uncertainty and greater noise in real estate prices in the short and medium run, and lower longitudinal risk in … structural changes in real estate market risk …