Due to the recent downturn of international equity markets the interest in real estate investments has soared. However, the well know problems of direct real estate investments complicate becoming well diversified with this investment class. Securitised forms of real estate investment can...

Real Estate has always been an investment class of its own, firstly, due to different risk/return characteristics than stocks and interest bearing assets and secondly, due to specific interdependencies to other assets in terms of return. These interdependencies are likely to be small, be it on a...

Real estate is an important asset, but as a direct investment subject to several difficulties. Shares of public open end funds or of real estate stock corporations represent a possible way for an investor to avoid these problems. The focus of this paper is the analysis of inflation risk of...

This paper analyzes the relation between demographic structure and real asset returns on treasury bills, bonds, stocks and real estate for the G7-countries (United States, Canada, Japan, Italy, France, the United Kingdom and Germany). Based on a macroeconomic multifactor model, a variety of...