Real estate industry is a fast growing reality in all European Countries and during the last years also Italian market shows a significant increase in the number of real estate funds available not only for institutional investors. The increasing role of retail investors in the industry makes...

The performance of real estate funds is mainly influenced by the inflows and outflows during the life of the fund and by the value changes of the real estate properties (Cervone, 2006). Following international standards (CFA Institute, 2009; IPD, 2008), the overall performance of the real estate...

Studies about hotel real estate market consider, prevalently, investment characteristics, managerial problems and macro-economics trends. Articles about real estate investment vehicles are scarce and generally concerning Anglo-Saxon countries. Authors stress the differences in the performance...

Landmark buildings are outstanding constructions recognizable on the basis of their unique design, high visibility and/or extraordinary relevance for the country (Appleyard, 1969). Empirical analyses demonstrate that residential buildings designated as landmarks sell for a substantial premium...

Real estate market trend could affect the value of both the direct exposures in property loans and the real estate collaterals of loans, therefore banks' performance and/or risk could change significantly in the case of real estate market collapse or expansion (i.a. Wheaton, 1999). Indeed,...

In the last decade, the development of investment funds specialized in the real estate investment, points out some interesting differences in the strategy adopted by fund manager in order to achieve an optimal portfolio allocation. An increasing number of real estate portfolio managers, manage...

PurposeThe aim is to identify the main macro-economic drivers of construction in an Eastern European country that is experiencing significant changes in the real estate sector.Design/methodology/approachUsing a proprietary database provided by Bank of Albania, the paper evaluate the relationship...

Real estate investment is different from financial investment and such difference can affect the results of traditional mean -variance models. The literature on property finance summarises the differences of expected return and expected risk among individual real estate investments into four...

The hedonic price models on the office sector demonstrate the existence of a link between the rent and the vacancy of the area (Wheaton and Torto, 1988), the characteristics of the building (Clapp 1980) and the characteristics of the area (Gardiner and Henneberry, 1988). The role of each feature...

The rating offered by independent credit assessment institution represents an easy way to summarize the risk return profile of an investment and, especially in the United States, this tool is used also to evaluate the risk return profile of Real Estate investment products. The more relevant...