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Paper eres2010_097:
EUROPEAN REAL ESTATE MARKETS CONVERGENCE

id eres2010_097
authors Srivatsa, Rahul; Lee, Stephen
year 2010
title EUROPEAN REAL ESTATE MARKETS CONVERGENCE
source 17th Annual European Real Estate Society Conference in Milan, Italy
summary This paper uses the concepts of beta-convergence and sigma-convergence and to evaluate empirically the hypothesis of rent and yield convergence in seven European office markets during the period 1984-2009. Because of the introduction of a single currency in January 1999, the analysis is carried out sequentially, first for the period the overall period and then the periods before and after the introduction of the single currency. The results indicates that irrespective of the time period considered there is not enough evidence of beta-convergence or sigma-convergence for rents and yields of the European office markets under review. We do however find some evidence that the introduction of the single currency in 1999 has led to increasing signs of convergence, especially in the Continental European markets.
keywords European real estate markets, Beta, Sigma Convergence
series ERES:conference
email rahul.srivatsa@aberdeen-asset.com
more http://www.eres2010.org/index.asp?page=papers_download
discussion No discussions. Post discussion ...
ratings
session Indirect Real Estate Investment (2)
last changed 2010/08/04 20:47
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