Purpose - The valuation of property companies and fair value accounting for investment properties under IFRS are closely affiliated with each other. This is because property companies are commonly valued using net asset value as a valuation technique. The term net asset value represents the fair...

Developments in the real-estate sector are of crucial importance for the business cycle and financial stability. This study analyses developments in the Italian housing market on the basis of both real and financial variables. Following the sharp contraction of the market during the financial...

This paper investigates the relationship between real estate asset liquidity and the liability structure of Japanese Real Estate Investment Trusts (J-REITs). It employs data on the regionality and usage of real estate assets as new proxies for the liquidation value of these assets, and arrives...

This article proposes a process by which a new national framework for listing real estate investment trusts (REITs) on the Shanghai stock exchange in China could be developed and implemented. It makes some assumptions about the actors involved and the action required, and presents a timeline for...

This paper addresses the issue of data quality in the real estate market. In many countries, the returns indices for direct markets are provided by several sources differing in terms of the methodology adopted and index weights. These differences produce a lack of informative standardization,...

We examine the market structure for real estate brokerage services across six large metropolitan areas, to see whether low-income neighborhoods or neighborhoods where house prices are low are as well served by real estate professionals as higher income or higher price neighborhoods. We collect...

The recent international credit crisis has highlighted the significant exposure that banks and insurers, especially mono-line credit insurers, have to residential house price risk. This paper provides an assessment of risk models for residential property for applications in banking and insurance...

Policymakers are relying heavily on mortgage modifications to address the foreclosure crisis. However, not enough is known about whether modifications actually help borrowers stay current over the long run, or about what kinds of modifications are most successful. We use logit models in a hazard...

This paper presents evidence that reductions in mortgage interest rates associated with prepayment penalties are greater for riskier borrowers, as measured by mortgage type, credit scores, and local incomes and education levels. This is consistent with an efficiency view arguing that, by...

This paper uses a unique data set with housing consumption, well-being measures and time use patterns to explore the implications of homeownership. After controlling for income, housing quality and health, female homeowners are not better off than renters by a variety of measures, both global...