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Paper eres2015_223:
The impact of financial regulations on the European listed real estate sector

id eres2015_223
authors Hoesli, Martin; Milcheva, Stanimira, Alex Moss
year 2015
title The impact of financial regulations on the European listed real estate sector
source 22nd Annual European Real Estate Society Conference in Istanbul, Turkey
summary There are several ongoing changes to the regulations on the financial markets such as the Alternative Investment Fund Management Directive (AIFMD), Solvency II and Basel III which will directly or indirectly affect the European real estate sector. Although the implementation of some of them is still in progress, the aim of this study is to assess potential outcomes associated with the regulatory reforms for the listed real estate industry in selected European countries. Our main focus will be on analysing the impact of regulation on the size and structure of the listed real estate sector in Europe. There has been almost no empirical research in this area thus far due to the lack of data and the uncertainty surrounding the regulatory changes. While the overall impacts are hard to be determined without awaiting the full implementation of the regulations in the national legislations, we aim to provide a first assessment of the effects of major financial market regulations on systematic risk in country real estate returns as well as on debt and equity issuance in Europe.
keywords Financial market regulation, listed real estate, interviews, debt and equity issuance
series ERES:conference
type panel session
discussion No discussions. Post discussion ...
session Public Real Estate Investments; An International Perspective
last changed 2015/07/11 10:06
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