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Paper eres2012_389:
Value-add or not? Assessing value in European real estate markets

id eres2012_389
authors Simon Kinnie and Craig Wright
year 2012
title Value-add or not? Assessing value in European real estate markets
source 19th Annual European Real Estate Society Conference in Edinburgh, Scotland
summary With the backdrop of heightened economic volatility emanating from the on-going euro zone problems, investors are naturally cautious and have been seeking shelter in relatively expensive safe haven assets. Is this a sensible strategy given that a lot of these assets look overpriced on some measures? Are investors likely to miss near trough of the cycle “value” in some sectors? How do you assess value in the current market, particularly as investor’s classic proxy for the risk free rate, the respective country government bond yield, looks to be very far from risk free in some markets? The analysis seeks to answer these questions and also assesses where value lies in the current market. Furthermore, historical analysis of the UK market examines whether value has been rewarded throughout the cycles. The analysis covers the period 1981 to 2011.
series ERES:conference
type normal paper
discussion No discussions. Post discussion ...
session Parallel Session C2
last changed 2012/11/15 10:28
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