"By reviewing the previous three asset bubble implosions, viz. (1) the íLost Decadeî of Japan in the 1980s; (2) the Asian Financial Crisis in Hong Kong in 1997; and (3) the Financial Tsunami in the USA in 2008, a common symptom of negative real interest rate is very clearly revealed before the...

The property market and, more specifically, the market of the buildings for service activities typically rates as íA-Class buildingsî those facilities that meet high quality standards. This definition drawn from financial rating models, is not always sided by a precise, objective and...

In this paper we would like to investigate which are the most relevant categories of stakeholders for the real estate business. In order to do so we initially define the cultural/managerial aspects of firms specialised in real estate. I.e. identify the nature of íproject-based firmsî as...

Part of the new guidance requires the valuer to identify the ícomponentsî of each property in connection with accounting for depreciation and to provide apportionments accordingly. The allocation of the value between land and property has been a requirement for many years. However, now, where...

Since Rappaportís publication (1) many studies have been published and much empirical research has been done to provide a deeper understanding on how companies can create superior long term value for their shareholders (2). In order to align internal goals with the maximization of shareholder...

The importance of real estate risk management has increased recently since formerly public-owned housing companies try to act more professionally and Basel II has imposed new requirements on the credit grantors who pass them on. Therefore many companies already have established a risk management...

Research on how the employees experience open plan offices is vast, but the results are mixed. Many studies find open plan offices to support communication, while others mainly recognise problems, such as noise and lack of concentration. Open plan offices have been studied among employees with...

The GradeMeter is a measurement tool that assigns a Quality Grade to office buildings. The main objective of the GradeMeter is to serve as an objective, clear and simple tool for occupiers, developers and landlords in measuring the quality of all office buildings, based on an international...

This paper will give the experiences of the major housing federations in Germany (GdW Bundesverband deutscher Wohnungs- und Immobilienunternehmen e.V. and Verband Berlin-Brandenburgischer Wohnungsunternehmen e.V.(BBU). The members in Germany ñ housing companies and cooperatives host more than...

At present numerous academic papers including Fisher, Geltner and Webb (1994) and Bond and Hwang (2005) leave little doubt that by institutions published real estate indices are biased. This concerns especially the calculated return volatilities of real estate indices, that seem to be downward...