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Paper eres2008_187:
INNOVATIVE SOCIAL SALES PROGRAMMES: A COMPARATIVE RISK ANALYSIS

id eres2008_187
authors Kramer, Bert
year 2008
title INNOVATIVE SOCIAL SALES PROGRAMMES: A COMPARATIVE RISK ANALYSIS
source Book of Abstracts: 15th Annual European Real Estate Society Conference in Kraków, Poland
summary In recent years, Dutch housing corporations have introduced a number of innovative types of sale. These innovative types of sale have in common that a house is sold to the tenant at a discount. In this way, buying a house becomes affordable for lower-income households. And the housing corporation obtains cash, which can be used for (social) housing investment. The different innovative types of sales differ in the conditions under which the house is sold. These conditions range from sharing the profit (or loss) at turnover, repaying the (indexed) discount at turnover or only buying the dwelling and leasing the land. Therefore, even if the discount is the same, the risk – return profile of the different types of social sale can differ. In this paper, we analyse and compare the risk – return characteristics of three different innovative types of sale. We use Monte Carlo simulation to establish the expected cash flows and Net Present Values, and t he uncertainties herein measured as Value at Risk.
keywords Risk analysis, risk management, social housing, affordability
series ERES:conference
email bkramer@ortec.nl
discussion No discussions. Post discussion ...
ratings
session F3
last changed 2008/11/26 14:05
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