This Technical Report documents the construction and coverage of the IWH European Real Estate Index (EREI). Since 2018, we have used machine-learning methods to collect monthly listings of residential real estate available for sale or rent in up to 20 European countries. The Technical Report...

Institutional investors, such as investment funds, are playing an increasingly important role in residential real estate markets. This raises the possibility that their actions might drive aggregate market outcomes and may change how and which macrofinancial shocks transmit to house prices. In a...

Over the past four decades, China's real estate industry has experienced rapid growth, accompanied by frequent regulatory interventions. These shifts present an ideal context for examining the characteristics of private equity placements (PEPs) under varying industrial policy environments. This...

We examine foreclosure discounts and their subsequent impact on investor returns in Berlin's housing market from 1984 to 2022. Utilizing hedonic regression models and matching techniques on a data set of housing transactions, we determine that foreclosure discounts, ranging from 20% to 50%, are...

This study investigates the financial interconnections among Real Estate Investment Trusts (REITs), sukuk (Islamic bonds), and oil in Gulf Cooperation Council (GCC) nations. The study sample comprises S&P GCC Composite Equity Real Estate Investment Trusts (REITs) Shariah, the S&P GCC Bond and...

This article contributes to an understanding of how real estate financialisation unfolds within a city in the global South, Johannesburg. It firstly shows that compared to what has been witnessed in the global North, real estate financialisation in South Africa is characteristically...

This paper examines the quantile connectedness between Real Estate Investment Trusts (REITs), housing market sentiment, and stock market sentiment in the U.S. over the period between January 2014 and June 2022 using the quantile vector autoregression (QVAR) model. We find modest spillover...

This study aims to explore the potential impact of the anticipated Georgian Real Estate Investment Trusts (REITs) on the performance of investment portfolios. Due to the absence of Georgian REITs, a simulated financial asset representing a Georgian Residential REIT was engineered. The study...

This study investigated the relationship between a sector-specific Australian Real Estate Investment Trust (A-REITs) and the underlying property assets in its property portfolio. The existing studies have assessed the connectedness/correlation between the A-REITs market and a variety of other...

This paper reinvestigates the existing anomalous relationship between inflation and REIT returns in the USA. To analyze it, we employ both observed and unobserved regime-switching VAR models, along with two additional variables, namely, relative price variability and output growth. We find that...

This paper examines the determinants of the changes in premiums to NAV in infrastructure REIT (infra-REIT) share prices in Singapore over the 2017-2021 period. Samples of 11 listed Singaporean REITs (S-REITs) are selected to create a balanced panel data for the analysis. Our finding shows that...

Purpose: The Group Method of Data Handling (GMDH) neural network has demonstrated good performance in data mining, prediction, and optimization. Scholars have used it to forecast stock and real estate investment trust (REIT) returns in some countries and region, but not in the United States (US)...

The goal of this paper is to emphasize the importance of prioritizing pleasure and enjoyment in the properties being invested in over financial returns. This research aims to determine the impact of hedonism on an individual's real estate investment decisions, with financial self-efficacy acting...

We examine the growth of Lodging REIT’s stock market performance and the stock market indices returns in the U.S. and Europe, considering the crash of March 2020 caused by the COVID-19 pandemic. For this purpose, we employed financial risk-adjusted performance measures and two-stage...

Real Estate Investment Trusts (REITs) are companies that raise money from the public to invest in real estate. Despite REITs being a vast and growing part of the economy, legal scholars have paid them almost no attention. Accordingly, no one has noticed that REITs possess several unique and...

This paper investigates the inflation hedging capability of listed real estate (LRE) companies from 1990 to 2021 in four economies: the US, the UK, Australia, and Japan. By using a Markov switching vector error correction model (MS-VECM), we identify that the short-term hedging ability moves...

Real estate strategies broadly fall into three categories: core, value-added and opportunistic. This empirical examination of net returns from these three strategies indicates that, on a risk-adjusted basis, the value-add funds have strongly underperformed and the returns from opportunistic...