Commercial property plays a key role in the economy as an essential input into the process of production. However, unlike the private residential market the commercial property market receives little attention in terms of its impact on the economy. While some analysis has been undertaken for the...

The paper examines recent trends in the dynamics of the office markets in Edinburgh and Glasgow and reviews their importance in the context of the office market in the UK as a whole. It compares and contrasts the economic drivers of demand in these two Scottish cities and places recent office...

The production sector in Edinburgh is in decline and has been for a number of years. Changes occurring in the sector are leading to different property requirements in terms of location, nature and volume. The changing dynamic includes a reduction in traditional manufacturing employment and the...

The paper begins by reviewing a stylised urban commercial property yield cycle. It then considers endogenous and particularly exogenous influences on the cycle including the role of macroeconomic factors such as interest rate changes and the property investment climate. A central issue that is...

Interest in international property investment can be traced back to the early 1970s with the collapse of the Bretton Woods fixed exchange rate system, the oil price shock of 1973 and the need to recycle petroleum wealth, all of which marked a sea-change in the global economy (Worzala, 1994:...

China has drawn the worldís attention with the emergence, rapid growth and increasing maturity of its real estate market in the past twenty years. Currently the worldís third largest economy, China was the second largest Asian country for commercial property transaction capital flows in 2006...

The starting point for this paper is the argument that increased weight of money into commercial property in this decade has led to a convergence of UK provincial city office yields. The paper begins by reviewing the concept of a property yield cycle and the notion of a city risk premium, and...

ERES:conference

In a previous paper (Taltavull and White, 2012) we analysed the role of money supply, migration and mortgage finance in house price evolution. Using a VECM framework we examined these variables together with income, inflation, and interest rates for both Spain and the UK. This followed on from...

The classic property market boom and bust is conceptualised as a short term adjustment process generated by the interaction of occupation demand, the business cycle, the national credit cycle and supply lags consequent on the development cycle. An alternative perspective views the process...