Foreign real estate investment funds have recently been added to the practical investment opportunity sets of ordinary Japanese investors. This paper analyzes the additional diversification benefits of U.S. REITs and Australian listed property trusts (LPTs) for Japanese investors who already...

Literature regarding transit’s impact on land values reports mixed results concerning the economic benefits of accessibility to subway stations, specifically regarding commercial properties. After examining 731 commercial land values in Seoul, Korea, this study suggests a possible explanation...