This paper explores the important linkages which may exist between the housing sector and the macroeconomy in Beijing from 1998 to 2007. By estimating the VAR model and impulse responsive model, we find that: (1) Economic conditions including the growth of population, GDP and construction costs...

This paper proposed a theoretical framework based on prospect theory to explain the determinants of housing satisfaction among relocated residents. We test the two most important elements of prospect theory, namely, reference point dependence and loss aversion. For reference point dependence, we...

To study the house price dynamics in China, this paper extends the traditional life-cycle model by incorporating land supply, regime shifts and government regulation factors. The models are estimated with an error correction framework using quarterly data from 2000 to 2007 in Beijing. The...

An increasing amount of research has been devoted to internet search query data and its application to predict a broad variety of indicators such as stock/property markets, unemployment or flu infections.This paper aims to investigate whether changes in internet queries can be used to formulate...

This thesis advises on the optimal index construction technique on behalf of the commercial real estate broker organisation Dynamis in the Netherlands. The database contains 1993 rent-renewals in fifteen years of brokerage from 1984 to 1998. Out of the plethora of indices available in the real...

This paper aims to examine the issue of economic diversification in the context of the office markets in New York and London. These two markets are two of the most liquid office markets and attract a large degree of international investment. However, both cities are key financial service centres...

Several studies have analyzed the role of real estate in a multi asset portfolio, but little work has been done on how to formulate real estate strategies within the context of a multi asset portfolio. An unconstrained real estate strategy needs to take into account the impact of leverage as...

ERES:conference

The valuation of property in close proximity to mine shafts has become increasingly difficult with the introduction of the 20 metre rule by the Law Society in 1991 and with mortgage lenders being more aware of the risks involved in property lending. Chartered surveyors use the Red Book as a...