An enigma has emerged in the UK mortgage possessions data. As expected, possessions in England and Wales have been decreasing in line with falling unemployment and interest rates, but in Scotland, possessions are actually on the increase. This puzzling pattern in the data forms the rationale for...

This paper represents the first systematic attempt to develop an econometric model of retail rent determination in Chinese cities. It investigates rent determination in three major Chinese retail centres – Beijing, Shanghai and Guangzhou – over the period 1999 to 2012. The study...

The awkward issue of high NAV discounts to share price continues to plague the management of European listed property companies as well as its shareholders. Whilst the share trades at a discount new investment decisions compete against a share buy back. From a cost of capital point of view this...

Most empirical analysis of property development treats the sub-components of the construction industry as independent of each other. For example, models of housing construction typically do not consider any possible relationship with industrial or commercial construction. New building and repair...

The Shanghai office market has developed rapidly over the past two decades. As a consequence of this development two, apparently distinct, office markets, i.e. central Puxi district and Lujiazhui district in Pudong, have developed in central Shanghai. This raises the issue as to whether the...

This paper presents rent models for retail, office and industrial property in the U.K. Panel data are used covering 11 regions for 29 years, enabling us to overcome the limitations of a relatively short time series. We use an Error Correction Model (ECM) framework to estimate long run...

The industrial property market has traditionally been under-researched because of the dominance of owner-occupation and its consequent low weighting in institutional investment portfolios. However, in recent years, studies have ranged from examining rental change at the national level to...

ERES:conference

This paper examines office market performance at a city level in Britain. Markets in Birmingham, Edinburgh, Glasgow, Leeds, Manchester, the City of London and the West End (of London) are examined. The paper analyses the key determinants affecting office markets and compares similarities and...

ERES:conference