Purpose The purpose of this paper is to validate and quantify the effect of key macroeconomic
drivers on London house prices using annual data over the period 1983–2016. Design/…

In this paper we argue forcefully that real estate is a predictable asset class (unlike stocks and
bonds} and propose a forward-looking methodology for evaluating real estate market risk. …

This article addresses empirically recent concerns about a dichotomy between capital markets
and real estate market fundamentals. Motivated by recent decreases in capitalization (cap…

The underlying objective of this article is to shed light on the extent and underlying determinants
of intermetropolitan differentials in office capitalization rates. To that end, it synthesizes …

Purpose The purpose of this paper is to assess whether the rapid accumulation of bank
deposits before the global financial crisis and their subsequent drastic reduction was the main …

During the last decade, managers of new pools of investment capital, representing domestic
and foreign pension funds and private investors, have been developing national investment …

… were skyrocketing because of the high inflation, cap rates were actually pushed to the opposite
direction due to the perception that property cash flows rise with inflation (see Sivitanides…