Multi-factor analysis of the Global Real Estate Market - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Multi-factor analysis of the Global Real Estate Market write by Florian Kargl. This book was released on 2020. Multi-factor analysis of the Global Real Estate Market available in PDF, EPUB and Kindle. In recent years factor investing or smart-beta strategies have gained extensive momentum in the investment management field. The exploration of risk factors offering explanatory powers for returns of assets in academia quickly found use in practice. To this date the majority of academic research in this field has focused solely on equities markets, with little research having been conducted in regards to alternative asset classes. This thesis aims to explore factor investing in the context of the global real estate market.Eight risk factors which were defined a priori based on existing literature, namely size, value, profitability, credit risk, inflation, real GDP growth, leverage and vacancy rate were regressed against the returns of the constituents of the FTSE EPRA NAREIT Global Real Estate Index for the observation period of 2000 until 2019 using a panel data fixed effects regression model. The analysis finds a statistically significant explanatory power of the factors size, credit risk, real GDP growth and vacancy rate. The rather low R-squared of the regression analysis indicates the existence of further relevant risk factors, forming the basis for further research in this field to be conducted.*****In recent years factor investing or smart-beta strategies have gained extensive momentum in the investment management field. The exploration of risk factors offering explanatory powers for returns of assets in academia quickly found use in practice. To this date the majority of academic research in this field has focused solely on equities markets, with little research having been conducted in regards to alternative asset classes. This thesis aims to explore factor investing in the context of the global real estate market.Eight risk factors which were defined a priori based on existing literature, namely size, value, profitability, credit risk, inflation, real GDP growth, leverage and vacancy rate were regressed against the returns of the constituents of the FTSE E
Risk in the Global Real Estate Market
Risk in the Global Real Estate Market - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Risk in the Global Real Estate Market write by Mike C. I. Nwogugu. This book was released on 2012-01-26. Risk in the Global Real Estate Market available in PDF, EPUB and Kindle. Essential reading for professional investors, risk managers, regulators, central bankers, and real estate professionals, Risk in the Global Real Estate Market: International Risk Regulation, Mechanism Design, Foreclosures, Title Systems, and REITs takes an international look at the ways in which U.S.-style constitutional laws, financial laws, and real estate laws in various countries affect global economics and risk; and analyzes specific constraints that deter market development such as Asset Liability Matching, inappropriate financial products, land title systems, inefficient constitutions and human biases. The sub-prime mortgage crisis (that began around 2006) and the Global Financial Crisis of 2007–2010 disrupted the economies of various countries and exposed many of the psychological, social, and economic problems inherent in the legal/risk infrastructure for mortgages, land title systems, REITs, securitization, and pensions. In this remarkable new book, Michael Nwogugu explains how these processes and statutes are unconstitutional and inefficient, and how they influence demand for housing, real estate prices, retirement savings, household wealth, consumer disposable income, marriage opportunities, job markets, crime, and regional economic growth. The resulting major economic and public health problems have continued to reduce the quality-of-life of nations, and continue to cause permanent declines in wealth, increases in crime and delinquency, high divorce rates, depression, and inadequate job creation, among other problems. The book examines a range of fields—including mechanism design, psychology, risk finance, and corporate governance; and emphasizes Constitutional economics as a distinct dimension of risk analysis. Risk in the Global Real Estate Market makes a compelling case about how constitutional torts increase information asymmetry, transaction costs, agency problems, and compliance costs, as well as inefficiency in real estate transactions. These problems, the book argues, are not unique to the United States, but also affect Commonwealth countries and other nations that have developed regulations that are similar to, or are based on U.S. commercial, securities, and or constitutional laws. Risk in the Global Real Estate Market presents a novel analysis of the sub-prime crisis (that first began in 2006), the failure of securitization (CMBS/MBS) markets, the Global Financial Crisis, and socio-economic problems caused by traditional mortgages and securitization. The book reveals that many of the statutes and processes that define mortgages, foreclosures, securitization, and REITs in the United States (and many common-law countries and nations that have adopted American-style real estate regulations) are fundamentally unconstitutional and inefficient, and have lasting negative effects on consumer psychology, the demand for real estate, price discovery in property markets, economic growth, and quality of life. The book examines the nature of constitutional torts and property rights as the foundation for business transactions and economic growth within the context of risk regulation, interstate commerce, takings, and legislation. Risk in the Global Real Estate Market introduces new theories of consumer psychology and institutional dynamics in real estate transactions; presents new theories of takings, and also surveys psychology/psychiatry studies (based on data from various countries) that confirm the harmful effects of mortgages, securitization, and foreclosures. Using elements of mechanism design, Michael Nwogugu develops new efficient financial products (Mortgage-Alternatives products), and presents a policy framework for a unified “Mortgage-Alternatives” market for the CEE/CIS region and China. He also explains why Asset Liability Matching hinders lending, capital formation and risk management, especially in developing countries.
Market Analysis for Real Estate
Market Analysis for Real Estate - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Market Analysis for Real Estate write by Rena Mourouzi-Sivitanidou. This book was released on 2020-08-06. Market Analysis for Real Estate available in PDF, EPUB and Kindle. Market Analysis for Real Estate is a comprehensive introduction to how real estate markets work and the analytical tools and techniques that can be used to identify and interpret market signals. The markets for space and varied property assets, including residential, office, retail, and industrial, are presented, analyzed, and integrated into a complete understanding of the role of real estate markets within the workings of contemporary urban economies. Unlike other books on market analysis, the economic and financial theory in this book is rigorous and well integrated with the specifics of the real estate market. Furthermore, it is thoroughly explained as it assumes no previous coursework in economics or finance on the part of the reader. The theoretical discussion is backed up with numerous real estate case study examples and problems, which are presented throughout the text to assist both student and teacher. Including discussion questions, exercises, several web links, and online slides, this textbook is suitable for use on a variety of degree programs in real estate, finance, business, planning, and economics at undergraduate and MSc/MBA level. It is also a useful primer for professionals in these disciplines.
Global Property Investment
Global Property Investment - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Global Property Investment write by Andrew E. Baum. This book was released on 2012-01-17. Global Property Investment available in PDF, EPUB and Kindle. 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 available body of material which forms the basis of this scholarly but practical summary of the new state of this art. The measurement, benchmarking, forecasting and quantitative management techniques applied to property investments are now compatible with those used in other asset classes, and advances in property research have at last put the ongoing debate about the role of real estate onto a footing of solid evidence. The truly global scope and authorship of this book is unique, and both authors here are singularly well qualified to summarise the impact and likely future of global innovations in property research and fund management. Between them, they have experienced three real estate crashes, and have observed at first hand the creation of the real estate debt and equity instruments that led to the global crisis of 2008-9. Global Property Investment: strategies, structure, decisions offers a unique perspective of the international real estate investment industry with: a close focus on solutions to real life investment problems no excessive theoretical padding a target of both students and professionals highly qualified dual-nationality authorship With many cases, problems and solutions presented throughout the book, and a companion website used for deeper analysis and slides presentations (see below), this is a key text for higher-level real estate students on BSc, MSc, MPhil and MBA courses worldwide as well as for practising property professionals worldwide in fund management, investment and asset management, banking and real estate advisory firms.
Applied Quantitative Analysis for Real Estate
Applied Quantitative Analysis for Real Estate - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Applied Quantitative Analysis for Real Estate write by Sotiris Tsolacos. This book was released on 2020-09-13. Applied Quantitative Analysis for Real Estate available in PDF, EPUB and Kindle. To fully function in today’s global real estate industry, students and professionals increasingly need to understand how to implement essential and cutting-edge quantitative techniques. This book presents an easy-to-read guide to applying quantitative analysis in real estate aimed at non-cognate undergraduate and masters students, and meets the requirements of modern professional practice. Through case studies and examples illustrating applications using data sourced from dedicated real estate information providers and major firms in the industry, the book provides an introduction to the foundations underlying statistical data analysis, common data manipulations and understanding descriptive statistics, before gradually building up to more advanced quantitative analysis, modelling and forecasting of real estate markets. Our examples and case studies within the chapters have been specifically compiled for this book and explicitly designed to help the reader acquire a better understanding of the quantitative methods addressed in each chapter. Our objective is to equip readers with the skills needed to confidently carry out their own quantitative analysis and be able to interpret empirical results from academic work and practitioner studies in the field of real estate and in other asset classes. Both undergraduate and masters level students, as well as real estate analysts in the professions, will find this book to be essential reading.
