[abstract missing - contribution appeared in the programme]

Since the second quarter of 1998, and with the exception of the 10% downturn experienced in the first half of 2009, apartment prices in Paris have been rising steadily. Their pace of growth even accelerated from early 2010 onward and, unless interest rates are raised to their historical trend...

In this paper we investigate the risk factors associated with real estate investment. We explore a rich database of over 100 000 transactions mainly for residential assets in the Paris area over the 1973 ñ 1998 period. The main risk factors are identified using a Principal Component Analysis as...

This paper aims at showing that using simultaneously Monte-Carlo Simulations and options theory may improve real estate portfolio valuations accuracy. Our method considers the options embedded in lease contracts, especially as conceded to tenant in continental Europe. We combine Monte-Carlo...

"In this paper, the similarities and differences in housing charateristics among the different íarrondissementsî of Paris, France, are brought out using a twofold, spatio-temporal approach: while standard hedonic price modelling is applied to a series of building and neighbourhood attributes...

In this paper we address the issue of building a factor repeat sales index based on factors. This is an extension of a companion paper, Baroni, BarthÈlÈmy and Mokrane (2001, BBM) where we built such an index but as a selected linear function of existing economics and financial variables. Here...

In this paper, simulated cash flows are used to value real estate assets. We generate the cash flows by Monte Carlo simulations both for the current and the terminal cash flows. Important simulation inputs, such as the physical real estate price volatility estimator, are provided by results on...

"Case & Shiller repeat sales indices is a means of constructing real estate price indices only based on repeated observations of property transactions. No forecasts may be considered because of the method itself that lies on information entirely contained in the property market. Baroni M.,...

In this paper we present the two repeat sales index methodologies developed by Case and Shiller 1987 (WRS) Baroni, BarthÈlÈmy and Mokrane 2005 (BBM). We then apply these methodologies to the Paris commercial property market. We use the CD-BIEN database that contains more than 10 000 repeat...

As suggested by D. Geltner, commercial properties indices have to be built using repeat sales instead of hedonic indices. The repeat sales method is a means of constructing real estate price indices based on a repeated observation of property transactions. These indices may be used as benchmarks...