Seminal work by Grenadier (1995) derived a set of hypotheses about the pricing of different lease lengths in different market conditions. Whilst there is a compelling theoretical case for and a strong intuitive expectation of differential pricing of different lease maturities, to date the...

This paper investigates whether obtaining sustainable building certification entails a rental premium for commercial office buildings and tracks its development over time. To this aim, both a difference-in-differences and a fixed-effects model approach are applied to a large panel dataset of...

Socially Responsible Investments (SRI) or, referring to real estate, Responsible Property Investment (RPI) are used by competing firms to create a differentiating attribute by integrating sustainability principles into their business strategy. Recent research on sustainability concentrates...

Despite the increased awareness and understanding of the benefits of sustainable design, the distribution of green buildings has not been uniform across major US cities, nor has the pace of adoption of green building practices been most rapid in cities with largest commercial business districts....

This paper investigates whether energy performance ratings, as measured by mandatory Energy Performance Certificates (EPCs), are reflected in the sale prices of residential properties. This is the first large-scale empirical study of this topic in England involving 333,095 dwellings sold at...

This paper investigates the relationship between corporate social and environmental performance and financial performance for a sample of publicly traded US real estate companies. Using the MSCI ESG (formerly KLD) database on seven Environmental, Social & Governance dimensions in the 2003-2010...

Currently, there exists relatively little research investigating the long-term association between stock and direct real estate markets. Using appropriate transaction-based property indices, this study focuses on the relationship between stock and direct real estate markets in nine Asian...

Market segmentation is a standard concept in both strategic marketing and investment analysis. The standard approach in the real estate market context is to segment markets by regions and property types. While this approach provides investment analysts with a powerful basic classification grid,...

This paper aims to extend the existing evidence on the investment value of green buildings to international markets, specifically the residential real estate market in Japan. Using a unique transaction database of condominiums in the Tokyo metropolitan area and a hedonic analytical framework, we...

It has been frequently observed that office markets are subject to high volatility in rents and vacancy levels, thus exposing real estate investors to considerable risk regarding expected future income streams. This paper analyzes the determinants of office rents and their variability over time...