Purpose – This paper aims to analyse the appraisal of a specialised form of real estate – data centres – that has a unique blend of locational, physical and technological characteristics that differentiate it from conventional real estate assets. Market immaturity, limited trading and a...

Purpose – The purpose of this paper is to deal with the appropriateness of using the Monte Carlo simulation as a technique to calculate risk in real estate development. Design/methodology/approach – The paper is divided into two interlinked segments. The first segment examines the general...

Conditional volatility models have been used extensively in finance to capture predictable variation in the second moment of returns. However, with recent theoretical literature emphasizing the loss-averse nature of agents, this paper considers models that capture time variation in the second...

In this paper we investigate cross-asset liquidity between equity markets and REITs and between REITs and private real estate markets. While many studies have investigated REIT liquidity, and there is an emerging interest in liquidity in the private real estate markets, there appears to be...

Research on the impact of property taxes on local real estate markets has a long history in the urban economics literature but few studies have considered this issue in the context of the commercial real estate market or on data from outside the USA. This is surprising given the use which...