This study utilizes tests based on ranks and signs suggested by Wright (2000), in addition to the traditional variance-ratio test, to examine the behavior of United Kingdom real estate and construction security indices. The results suggest a positive dependence in the index return series and...

This study aims to analyze the performance of industrial rents and land values in the Sydney property market. In the Sydney industrial property market, no growth of the rents and marginal growth of the land values in real terms has been seen between 1976 to 1996. It means that the overall return...

This article discusses the advantages and disadvantages of real estate-related taxes that might be imposed in mainland China, in light of the government’s needs for tax revenue and the economy’s need for incentives to develop land. Some policy recommendations are presented, based on an...

This study sets out to empirically examine the interrelationship existing between the labor market, the housing market and domestic interregional migration in Taiwan, with four of the most urbanized population receiving areas, Taipei City, Taipei County, Taichung City and Kaohsiung City, being...

This paper develops a forecasting model of residential property prices for Hong Kong using an artificial neural network approach. Quarterly time-series data are applied for testing and the empirical results suggest that property price index, lagged one period, rental index, and the number of...

This paper describes and applies the weighted least squares (WLS) technique that corrects for spatial autocorrelation in the residuals of hedonic regressions. Most empirical studies to date have focused on spatial autocorrelation in the housing market, i.e., single family home valuation. This...

Suntec City (hereafter referred to as Suntec), “Asia’s Vertical Silicon Valley,” is one of the real estate examples where broadband and information & communication technologies (ICT) have been strongly embraced to enhance the competitiveness and marketability of its office space. In a...

Although there have been many recent studies of the housing market and the possible housing bubble, very few studies take a micro-oriented approach. We construct a repeat-sales housing price index from a new data set for Irvine, California to understand recent trends in its housing market. Our...

This study provides an empirical study on the relationship between institutional factors and real estate returns. Using data from both developed and emerging market countries, our empirical results show that institutional factors do influence real estate returns and these factors may not be...

This paper examines the relationship between return predictability and REIT characteristics. We build a multifactor model based on a set of firm-specific factors that include (1) Risk factors; (2) Liquidity factors; (3) Expensiveness; (4) Profitability; and (5) Return history. Our model...