Eres : Digital Library : Works

Paper eres2012_168:
Dynamics in real estate development: on the relationship between residential and commercial real estate markets

id eres2012_168
authors Dennis Schoenmaker and Arno Van der Vlist
year 2012
title Dynamics in real estate development: on the relationship between residential and commercial real estate markets
source 19th Annual European Real Estate Society Conference in Edinburgh, Scotland
summary This paper considers the dynamics in real estate development over time. We extend earlier literature by considering the relationship between the various markets of housing, retail, offices and industrial real estate. Does residential real estate development complement or substitute for commercial real estate development? Does residential real estate development lead or lag those in commercial real estate? How do shocks propagate through the various real estate markets? These questions are central in this paper. We present an empirical model of real estate development that includes the short and long-run relationship between real estate markets. For this we use Dutch time series of monthly data over 1995-2009. We investigate the time series properties of the data by testing for unit root and co-integration of the series. Empirical tests suggest a vector autoregressive model framework for real estate development series.
series ERES:conference
type normal paper
email d.a.j.schoenmaker@rug.nl
discussion No discussions. Post discussion ...
ratings
session Parallel Session G1
last changed 2014/10/21 21:51
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