Private real estate markets have experienced signi ficant in inflows of institutional capital over the last couple of decades. In this paper we seek to understand what are the implications of this recent development. Employing a generalized Hamiltonian Monte Carlo Bayesian procedure we find...

We extend the IPO literature analysing the role of financial market integration in the development of IPO markets and the pricing of newly listed stocks. Using a hierarchical linear model, we show that differences in underpricing between markets with high and low financial integration levels are...

We explore investor expectations about the effects of work from home (WFH) for the commercial real estate sector. We assess how differences in WFH exposure of listed real estate investment trusts (REITs) in the largest European economies – Germany, France and the UK – during the early stages...

We use the introduction of a temporary removal of the transaction tax for the purchase of property or land in England – the Stamp Duty Land Tax holiday (SDH) – between July 2020 and March 2021 as a quasi-natural experiment to assess the implications on prices, trading patterns and liquidity...

This paper investigates the term structure of discount rates over the very long run, using the repeat-sales housing transactions and the unique housing contract of leaseholds in England and Wales. We estimate the price discounts and price appreciation discounts for 0-300 years leaseholds...

This paper provides new evidence on the relationship between time-on-market (TOM) and house prices. Using big data techniques, we construct a rich dataset on residential transaction prices in England between 2018 and 2020, their listing information, energy performance, and property taxes. We use...

This paper looks into the investment strategy of ESG-dedicated investors, particularly the geography drivers that attract ESG-dedicated investors. Using infrastructure deal level information from 2008 to 2020, we examine how local greenness and sustainable development policies (e.g., plans to...

Employing a generalized Hamiltonian Monte Carlo Bayesian procedure we develop a new measure of real estate uncertainty that explicitly encapsulates conditional stochastic volatility and noise. When applied to commercial real estate (CRE) markets, results of Vector Autoregressive (VAR) modeling...

In this paper we undertake a literature review to identify the barriers which inhibit international real estate investment.  We test our initial findings by questioning property investment professionals through semi-structured interviews.  By doing this we were able to verify our list of...