Despite the recent trend of offshoring branches of UK services industry to remote locations urban theory has yet to enlist a theory of industrial rents that formally takes the properties of substitution between locations into account. This study elaborates on the Fujita, Krugman and Venables...

Despite the recent trend of relocating branches of UK services industry to remote locations urban theory has yet to enlist a theory of industrial rents that formally takes the properties of substitution between locations into account. This study elaborates on the Fujita, Krugman and Venables...

Nominal property returns can be broken down into two components: real property returns and inflation. A structural VAR model is proposed to estimate the relationships between nominal property return, real property returns and inflation. Bayesian Methods (Markov Chain Monte Carlo) are used to...

The housing market in the UK has seen a sustained increase in prices in recent years, in common with many international markets. The UK market has however witnessed distinct regional trends in price dynamics. This has been a common factor in the UK market as noted in the many papers that have...

Although partial equilibrium neo-classical models have been established as a theoretical foundation for applied studies in a wide range of markets, but there is a continuing dispute about their effectiveness in the case of commercial real estate. The blame for this indecisiveness is commonly put...

Several empirical studies have examined the volatility of either the components or the whole of real estate returns of different sectors, using data sets from a variety of sources. A number of studies looked in detail into the unconditional distributions of returns, such as Young et al (2006),...

This study examines the rationality and momentum in forecasts for rental, capital value and total returns for the real estate investment market in the United Kingdom. In order to investigate if forecasters are affected by the general economic conditions present at the time of forecast we...

The purpose of this study is to examine the relative performance of European commercial real estate markets, with an emphasis on the three largest evolving markets for the recent new entrants to the EU in May 2005 namely, Poland, the Czech Republic and Hungary. Employing a panel data oriented...

Over the last twenty years the private sector has assumed the role of the predominant supplier of buildings in Britain. In 1977 roughly half (49%) of construction new orders were made by the private sector; by 1998 the private sector accounted for more than three-quarters (79%) of all new...