The Credit Crunch brings to light a renewed interest in the operational tasks of Corporate Real Estate Management (CREM): a so called ëEntrepreneurial Cooperationí (ëOndernemend Samenwerken) in restructuring, maintenance and control. This so called ëEntrepreneurial Cooperationí implies a...

Real Estate investors rely on the diversification of their portfolios as a tool to reduce the volatility of their portfolioís performance. Diversification is the principal tool of Harry Markowitzís Modern Portfolio Theory (MPT). Diversification achieves reductions in the total portfolio risk...

Lenders traditionally support decisions on property secured loans by instructing a property valuation. However AVM use for residential loan decisions has grown rapidly in the UK and elsewhere, altering demand for traditional valuation services (Downie & Robson, 2007). This paper analyses policy...

Housing private finance initiative (PFI) schemes are used for cooperation of local authorities with private partners to build, improve, manage and maintain social housing stock in UK. They can be seen as competitive solution for privatization of public stock. These schemes should enable a...

Liquidity is the ability of a bank to collect money necessary for financing assets and meet obligations as they come due, without incurring unsustainable losses; the maturity transformation of short-term deposits into long-term loans makes banks inherently vulnerable to liquidity risk (Basel...

Organisations need real estate, premises and spaces for their business activities. The role of real estates, premises and spaces has changed from a necessary cost to a support function for organisation. Albeit the importance of real estate has been recognised, the actual value creation in real...

Models of urban housing markets were originally developed with simplified assumptions including a featureless plain. Urban form in these models is a one dimensional output in the shape of housing density. Subsequent empirical developments using hedonic price modeling and sub-market models have...

Land markets are imperfect; they are often intervened by their host governments using the instrument of laws and regulations with the view, either to cure their imperfections or to prop them up. These policies may or may not yield the expected dividend. The trouble is, because the dividend...

By performing strategic risk analysis studies, investors can obtain insight into the risk ñ return characteristics of the current asset portfolio and into the most important risk drivers. Furthermore, via strategic risk analyses, investors can obtain insight into the relative effectiveness and...

Corporate governance is becoming an important issue in the German real estate industry. Some of the major issues facing German real estate companies today as they try to gain and maintain investor’s confidence are for example: standardized property valuation, transparency, executive...