This article conducts an attribution analysis for German real estate funds. The performance of real estate funds within Germany is dissected into property returns, liquidity returns, leverage and expenses. Furthermore a model is set up to explain annual fund returns using the factors investor...

This paper documents developments in mortgage credit and the housing sector in Latin America over the past decade, and compares them with those of other emerging economies. In particular, it examines the real estate and mortgage markets to assess whether (i) growth in mortgage credit is...

This paper examines the effect of economic policy uncertainty on the performance of the real estate sector proxied by Real Estate Investment Trust (REIT) returns in the United States. Using monthly REIT index data and the monthly changes in a newly constructed index of economic policy...

The market of German property funds that revalue their real estate assets at least once a year can be subdivided by their legal structure into listed property companies, listed REITs, open-ended public funds and open-ended Spezialfonds. Unlike most other developed real estate markets, the German...

This paper aims to show that the accuracy of real estate portfolio valuations and of real estate risk management can be improved through the simultaneous use of Monte Carlo simulations and options theory. Our method considers the options embedded in Continental European lease contracts drawn up...

Lai and Wang's (1996) work suggests that under most circumstances, property valuation based on Vandell's (1991) minimum-variance grid method is more accurate than the valuation based on a linear hedonic pricing model with its coefficients estimated using ordinary least squares technique. This...

A new method for seismic risk identification is proposed based on the average measure of the expected annualized losses from earthquake occurrence. We show can be identified the risk for insurance decisional purposes. The analysis is useful for insured as well as for insurance company. When risk...

Within three quarters of 2012, the volume of mortgage housing loans (MHL) (Rb 698.59bn) exceeded by 50% that extended in the respective period of 2011. With growth in lending volumes, a decrease in the overdue debt on MHL in rubles both in monetary terms and as a percentage of the outstanding...

In 12 months of 2012, the volume of mortgage housing loans (MHL) exceeded by 47.3% that in the same period of 2011 and amounted to Rb 904.6bn, despite the continued growth in the weighted average rate on MHL in rubles extended within a month. In November 2012, the weighted average rate amounted...

In January-October 2012, entities of all the forms of ownership built 476,500 apartments with the total floorspace of 40.1m sq. meters which amounts to 103.8% on the respective period of 2011. The ratio between the price of housing and households' income in 2012 points to the fact that housing...