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Paper eres2003_231:
Finn REITs - Success Factors for Property Securitisation in Finland

id eres2003_231
authors Niinimäki, Esa; Kaleva Hanna
year 2003
title Finn REITs - Success Factors for Property Securitisation in Finland
source 10th European Real Estate Society Conference (10-13 June 2003) Helsinki, Finland
summary The Finnish property market shares most of the same problems with the other countries still without special legislation enabling the public tax-transparent real estate vehicles. The role of securitized real estate ownership is minimal, the institutional investors owns their real estate investments directly, the small listed sector is subject to substantial net asset value discount, and trading volumes of commercial property and thus its liquidity are low. Furthermore, in absence of tax-effective choice the pension funds are creating private property funds and due to the undervaluation of the listed real estate the public property companies are under pressure of hostile takeovers and liquidation of their assets.
series ERES:conference
discussion No discussions. Post discussion ...
session Session 6, Securitised Real Estate 2
last changed 2008/12/29 19:09
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