We explore spatio-temporal aspects of global commercial real estate price movements and consider two channels where prices may spill over between global cities: (i) through a dominant market and (ii) through “neighbouring” markets. Neighbouring, here, is defined as the degree of overlap in...

We explore spatio-temporal aspects of global commercial real estate price movements and consider two channels where prices may spill over between global cities: (i) through a dominant market and (ii) through “neighbouring” markets. Neighbouring, here, is defined as the degree of overlap in...

This paper studies the pricing of the risk associated with the location of the assets. The location risk is measured by ‘local beta’, which combines the systematic risk of local property markets and the property allocation strategy of real estate firms. The empirical results confirm a higher...

This study explores how information helps housing consumers make informed decisions and discusses potential market outcomes. We analyse the interaction between the disclosure of information on property conditions and the disparity between home sellers' willingness to accept (WTA) and home...

A land monopoly is a theoretical “impossibility” which, nonetheless, allows for a spatial empirical approach. We specify spatial tests of land monopoly, understood as a pricing strategy where land prices can be ‘over and above' the ones determined by city-wide location and market...

Chongqing has made remarkable progress in economic and social development since it was granted provincial city status in 1997. The city had become a leading economic centre for the upper part of the Yangtze River region and a focal point for an experiment in coordinated urban-rural development....