Journal of Real Estate Literature最新文献

{"title":"Real Estate Development Matrix","authors":"R. Harris","doi":"10.1201/9781315180779","DOIUrl":"https://doi.org/10.1201/9781315180779","url":null,"abstract":"","PeriodicalId":35888,"journal":{"name":"Journal of Real Estate Literature","volume":"123 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2018-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"88557953","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"What Constitutes a Research Contribution in Real Estate Related Fields? A Survey of Journal Editors","authors":"S. Azasu, Robert A. Simons","doi":"10.1080/10835547.2018.12090486","DOIUrl":"https://doi.org/10.1080/10835547.2018.12090486","url":null,"abstract":"Abstract The real estate academy has always prioritized with the quality of research and research contribution. We conducted an online survey of journal editors and associate editors in real estate...","PeriodicalId":35888,"journal":{"name":"Journal of Real Estate Literature","volume":"7 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2018-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"81489542","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Asymmetric Behavior in Nominal and Real Housing Prices: Evidence from Emerging and Advanced Economies","authors":"C. André, N. Antonakakis, Rangan Gupta, M. Zerihun","doi":"10.5555/0927-7544.25.2.409","DOIUrl":"https://doi.org/10.5555/0927-7544.25.2.409","url":null,"abstract":"Abstract In this article, we investigate asymmetry in nominal and real housing price series from eleven emerging and twenty advanced economies using the nonparametric Triples test (Randles et al., 1980), which allows identification of different types of asymmetries in economic cycles. We find asymmetry in fewer emerging than advanced economies. In more than half of the latter, nominal prices reach peaks faster than troughs (positive steepness asymmetry), suggesting the presence of downward nominal rigidities. Nominal price asymmetry is found only in slightly over a quarter of the emerging economies. Hence, nominal housing price increases are more likely to be followed by symmetric price falls in emerging than in advanced countries. Regarding real housing prices, peaks are higher than troughs (positive deepness asymmetry) in half of the advanced economies, suggesting the presence of price overshooting during booms, but less undershooting during busts. Weaker evidence of similar asymmetry is found in emergi...","PeriodicalId":35888,"journal":{"name":"Journal of Real Estate Literature","volume":"62 1","pages":"409-425"},"PeriodicalIF":0.0,"publicationDate":"2018-01-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"88518284","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Significance of Real Estate Fund Management in India","authors":"A. Gupta, A. Sawhney, D. Bajaj, S. Agarwal","doi":"10.1080/10835547.2017.12090445","DOIUrl":"https://doi.org/10.1080/10835547.2017.12090445","url":null,"abstract":"Private equity real estate (PERE) in developing markets has limited reliable publically available data. In this paper, we analyze the transaction data of PERE in India for the 2005–2015 period. Inv...","PeriodicalId":35888,"journal":{"name":"Journal of Real Estate Literature","volume":"27 1","pages":"141-168"},"PeriodicalIF":0.0,"publicationDate":"2017-08-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"84630460","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Loss Aversion and Housing Studies","authors":"Helen X.H. Bao,Charlotte Chunming Meng","doi":"10.1080/10835547.2017.12090454","DOIUrl":"https://doi.org/10.1080/10835547.2017.12090454","url":null,"abstract":"","PeriodicalId":35888,"journal":{"name":"Journal of Real Estate Literature","volume":"35 1","pages":"49-75"},"PeriodicalIF":0.0,"publicationDate":"2017-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138527801","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Measurements of Rationality for a Scientific Approach to the Market- Oriented Methods","authors":"M. Simonotti, M. Ciuna, F. Salvo, M. D. Ruggiero","doi":"10.5555/0927-7544.24.2.403","DOIUrl":"https://doi.org/10.5555/0927-7544.24.2.403","url":null,"abstract":"(ProQuest: ... denotes formulae omitted.)The International Valuation Standards (IVS) are internationally recognized appraisal methods used in the market-oriented approach, the income approach, and the cost approach. When a real estate market is active and all necessary market data are available, the market comparison approach (MCA) is the most direct, probative, and documented method used to appraise real estate market values (Simonotti, 2006); in particular, the MCA is the most important method and is comparable to the market- oriented approach. The MCA is known by several different names in the appraisal literature. In some of the older literature it is called the market data approach, while elsewhere it is referred to as the grid adjustment technique.There are many appraisal procedures that can be used in the logic application of the MCA. These procedures are grouped into two categories: (1) quantitative techniques based on detection of objective markets data (paired data analysis, graphic analysis, trend analysis, secondary data analysis, adjustment grid method, etc.); and (2) qualitative techniques based on the analyst's subjective judgment (relative comparison analysis, personal interviews, etc.).In particular, the adjustment grid method (AGM) represents a link between the MCA and the multiple regression analysis, aiming to formalize the adjustment step of the MCA, without reaching the formal and symbolic perfection of the multiple regression models. There are three methods documented in the literature used in the application of the AGM (Colwell, 1983): The first is the additive dollar adjustment method (ADAM), which is based on the assumption that the selling price is a linear function of the property attributes. The second, is the additive percentage adjustments method (APaM), which may be rationalized by a number of functional forms. In general, the percentage difference in prices between a subject and a comparable is found by adding functions of the two properties' attributes. The third is the multiplicative percentage adjustment method (MPaM), in which it is supposed that the ratio of the selling price to that of the comparable is equal to the product of functions of the subject and the comparable's attributes.The evaluation of hedonic prices in applying AGMs can be done directly through paired data analysis and indirectly by acquiring hedonic prices obtained through the application of multiple regression analysis to a sufficiently large sample. There are situations in which both modes are not very applicable due to the lack of data suitable for the application of the paired analysis and the limited availability of sufficient data to the application of multiple regressions (Colwell, Cannaday, and Wu, 1983). Even when the data are available, a statistical analysis does not always lead to consistent results in terms of quantities because they achieved following generalizations that are not always able to take into account the specificiti","PeriodicalId":35888,"journal":{"name":"Journal of Real Estate Literature","volume":"41 1","pages":"403-427"},"PeriodicalIF":0.0,"publicationDate":"2016-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"90601505","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"The Impacts of Corporate Governance on the Performance of REITs in Singapore","authors":"Wei Lan Chong, K. H. Ting, F. Cheng","doi":"10.5555/0927-7544.24.2.317","DOIUrl":"https://doi.org/10.5555/0927-7544.24.2.317","url":null,"abstract":"(ProQuest: ... denotes formulae omitted.)Since early 2000, the real estate investment trust (REIT) markets in Asia have grown significantly. The REIT industry is booming and is increasingly important in the regional capital market with the recovery from the Global Financial Crisis in 2009. The Singaporean REIT (S-REIT) market is the second largest REIT market in Asia after the Japanese REIT (J-REIT) market, which accounted for 25% of the total market capitalization of Asian REIT by July 2016. This indicates the contribution and significance of Singapore in the capitalization and development of the Asian REIT market.Singapore has consistent economic performance and has ranked second for five consecutive years in the Global Competiveness Index (GCI), which captures the fundamentals of the city-state economy (World Economic Forum, 2015). More importantly, Singapore is ranked third in the world as a global financial center after London and New York in the Global Financial Centers Index 19 (The Global Financial Centers Index 19, 2016). In addition, Singapore is the top global financial center in the Asia Pacific region. Singapore is also ranked eleventh in global real estate transparency and is ranked second after Australia in the pan-Asia regions in the Global Real Estate Transparency Index (Jones Lang LaSalle, 2016). This clearly indicates that Singapore is a successful financial hub in Asia, pan-Asia hub regions, and in the world for all categories of financial products and services. This includes various financial industry sectors such as the listed property securities and REITs in the Asia Pacific region.Singapore plays a significant role in property securities or property companies in Singapore (Ong, 1994, 1995; Liow, 1997, 2000, 2001a, 2001b; Newell, Chau, Wong, and Liow, 2009), property securities or real estate securities in Asia (Ooi and Liow, 2004; Liow and Sim, 2006; Liow, 2007; Liow, Ho, Ibrahim, and Chen, 2009; Nguyen, 2011; Liow, 2012; Liow and Chen, 2013), real estate markets in Asia (Liow and Webb, 2008; Liow and Adair, 2009; Newell, Chau, Wong, and Liow, 2009; Newell, 2013), REITs in Singapore (Sing and Ling, 2003; Newell, Pham, and Ooi, 2015), and REITs in Asia (Ooi, Newell, and Sing, 2006; Newell, 2012; Pham, 2012).In addition, this also accelerates the growth and development of REITs in other parts of Asia such as documented in the literature for the leading J-REITs in Asia (Kutsuna, Dimovski, and Brooks, 2008; Ong, Ooi, and Kawaguichi, 2011; Newell and Peng, 2012), Hong Kong (Newell, Wu, Chau, and Wong, 2010), Malaysia (Newell and Osmadi, 2009, 2010; Sing, Ho, and Mak, 2002), Taiwan (Lin, 2007; Lee, Kuo, Lee, and Lin, 2011; Peng and Newell, 2012), South Korea (Pham, 2011a), and Thailand (Pham, 2011b).Other studies in the context of pan-Asia REIT include volatility behavior in Asian REITs (Tsai, 2013), convergent behavior (Tsai and Lee, 2012), risk management in Asian REITs (Chiang, Tsai, and Sing, 2013), sponsor backing in Asian ","PeriodicalId":35888,"journal":{"name":"Journal of Real Estate Literature","volume":"14 1","pages":"319-344"},"PeriodicalIF":0.0,"publicationDate":"2016-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"82031208","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"The Real Estate Academic Leadership (REAL) Rankings for 2016–2020","authors":"Jesse D. Saginor","doi":"10.1080/09277544.2021.1876436","DOIUrl":"https://doi.org/10.1080/09277544.2021.1876436","url":null,"abstract":"Abstract The Real Estate Academic Leadership (REAL) rankings for authors and institutions began in 2015 with a straightforward approach to measure author and institutional contributions to real estate research. While real estate research may traditionally be allied with business schools, authorship varies across university programs, as well as public and private organizations. That level of diversity makes it difficult to easily rank programs or departments, resulting in the university or organization as being the primary unit of analysis. The initial rankings in 2011–2015 attempted to highlight the authors and institutions making the greatest contributions to the field of real estate research based on publications in the top three peer-reviewed real estate journals. To some extent, the 2012–2016 rankings served as a check on the rankings from 2011– 2015 to see if there were any major issues with the simple methodology used in the initial rankings. The 2013–2017 REAL rankings continue to highlight that pa...","PeriodicalId":35888,"journal":{"name":"Journal of Real Estate Literature","volume":"22 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2016-01-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"87306165","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Multi-Purpose 3-D Real Estate: Understanding the Role of 3-D Technology for Enhancing Resilience","authors":"P. Christensen, D. McIlhatton, N. Blair","doi":"10.1080/10835547.2016.12090437","DOIUrl":"https://doi.org/10.1080/10835547.2016.12090437","url":null,"abstract":"The role that real estate can have for enhancing the effectiveness and efficiency of an area to respond to natural and man-made crises has received little attention. This research demonstrates how the real estate profession plays a fundamental role in the preparedness, response, reconstruction, and recovery stages of a crisis. The geospatial technology developed and used in this research illustrates how geographic information, geographic information systems, gaming technology, and the creation of a user interface can improve the decision-making process for those tasked with ensuring resilience in urban areas. In particular, the ability of decision makers to create real-time simulations with this model, including temporal and visual information about the impact of various interventions, enables decision makers to better understand intervention options and make better decisions. Three scenarios are presented in which this technology was applied: flooding, riots/protests, and terrorist events.","PeriodicalId":35888,"journal":{"name":"Journal of Real Estate Literature","volume":"223 1","pages":"453-472"},"PeriodicalIF":0.0,"publicationDate":"2016-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"76685443","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Analysis of closed real estate funds in Italy","authors":"G. Galloppo, L. Mundula","doi":"10.5555/0927-7544.23.1.85","DOIUrl":"https://doi.org/10.5555/0927-7544.23.1.85","url":null,"abstract":"AbstractIn this paper, we examine closed real estate funds, comparing the Italian case with the international closed real estate fund market. We study whether the ''public hand'' has acted in an efficient market way to achieve return results in line with private competitors. In the last 10 years, international closed real estate funds have had an annual average of 0.5%. This result represents a very poor performance when compared with the returns offered by international bonds (5.6%) or international l equity markets (6.9%). This positive trend, however, is not followed by the closed real estate investment fund sponsored by the Italian government. On average, during the recent financial crisis, the returns of the international closed real estate funds in the euro area increased by more than 14 percentage points, while those of the Swiss franc area were about 1.5%.(ProQuest: ... denotes formulae omitted.)The management of real estate owned by public administrations is a thorny issue. First, there is the problem of reducing the financial resources available to the public, and the consequent need to rationalize spending. Second, there is the need to transform public real assets, which are often considered a passive voice in a government budget, into a resource.A lot of policymakers stress that government should orient its decisions through public / private partnerships that employ innovative financing instruments that enable the development of modern actions, effective and efficient in managing and using public assets. The real challenge is to be found in the enhancement of the public as a strategic lever to overcome the balance crisis.In Italy since 1999 disposals of public assets have been made by using securitization or real estate funds. In Italy, securitization has led to significant divestments by both banks (mainly loans) and government institutions.In this paper, we deal with the subject of the performance of public real estate funds. This is a financial instrument that allows the investor to participate in the economic results of private enterprises taken in the housing sector, not using the typical pattern of participation in a company, but the scheme of assets managed by a professional intermediary. We tackle the issue of performance, not according to what is typically called the closed-end fund puzzle, but by focusing on public real estate funds.The difficulties of the Italian government are extensively known, and certainly exacerbated, by the persistent state of international crisis. Indeed, Italy, having accumulated a huge public debt, has decided to use these financial instruments to address different needs regarding public spending, health, and welfare. These difficulties, mainly to be reconnected to the high level of public debt, in January 2013 have exceeded the remarkable level of 2,000 billion euros. Among the various economic policy tools with which Italy has decided to deal with this crisis, there are closed real estate funds. ","PeriodicalId":35888,"journal":{"name":"Journal of Real Estate Literature","volume":" 15","pages":"85-113"},"PeriodicalIF":0.0,"publicationDate":"2015-07-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"72500194","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}