This paper presents estimates of an equilibrium-based dynamic adjustment model of the office market, using supply and demand relationships to link construction, absorption, vacancies and rents to employment growth and real interest rates. The model is estimated using data from the City of London...

This paper addresses the question of valuation smoothing at the individual property level. Using a sample of 30 properties with monthly valuations over the period December 1986 to October 1995, the average profile of monthly smoothing parameters is found to be non-constant. Comparing the average...

Developments in the sophistication of global real estate markets mean that global real estate investment is now being executed professionally. Thanks to academic enquiry, professional analysis and entrepreneurial activity, backed by the globalisation of all investment activity, there is now an...