Cross-border capital flows into real estate are marked by sharp inequalities among countries. Hypothetically, each country should receive capital flows commensurate with the size of its respective economy or, more accurately, the total size of its investible real estate market. In contrast to...

We estimate an identical vector autoregressive (VAR) model with house prices for 14 European industrial countries, 7 Central and Eastern European (CEE) countries and the US. Using counterfactual simulations of consumption and investment responses to policy rate induced house price shocks, we...

This study investigates whether an increase in cross-border bank lending can lead to spillover effects among housing markets of developed countries using a dynamic spatial panel model. Variations in house prices in one country can spill over house prices in other countries by transmitting...

We estimate the role of monetary policy, net capital inflow and credit supply shocks for house prices, residential investment and durable consumption. These fundamental shocks account for three leading hypotheses about the causes of the recent housing bubble in the US: loose monetary policy, a...

This paper examines the empirical impact of trade openness on the short-run underpricing of real estate IPOs in China, on a city level. To our knowledge, this represents the first paper which employs a macroeconomic argument to explain the real estate IPO performance. Our work is based on the...

The aim of the paper is to explore both of the effects of macroeconomic variables on house prices and the lead-lag relationships of real estate markets to examine house price diffusion across Asian financial centres. The analysis is based on the Global Vector Auto-Regression (GVAR) model...

This paper examines the impact of local public expenditure on the built environment. The empirical framework is designed to address the endogenous feedback effects. Various types of expenditures are considered across 29 local areas in Taipei. Using panel data modelling that controls for...

The research project outlined proposes to investigate the relationship between the market significance of foreign investors in major office markets and commercial real estate capitalization rates. Drawing upon a database of commercial real estate transactions, it is proposed to model the...

The linkage between corporate commitment to environmental, social and governance (ESG) issues and investment performance has generated a substantial body of research outside the real estate sector. Nevertheless, the relationship between the environmental performance and financial performance of...

This paper examines the impact of local public amenities on house prices in the islands of Greece. By taking the Greek islands as the case study, which has not been studied in detail on this topic, we analyse how the presence of a public hospital, an airport, a higher educational institution...