A survey is conducted to record the level and structure of expectations of return and risk in the Swiss property market. The main interest of the study is to uncover the relationship between expected return and expected risk for various geographical regions and property sub-markets as well as to...

The appeal of the duration concept comes from its simplicity and wide-use in portfolio immunization. Various duration measures are available for fixed income securities with predefined cash flows (Macaulay duration, modified duration) or interest-rate dependent cash flows (effective duration)....

A new data set is employed to construct an index of the Swiss rental residential market starting as early as 1936. Given the data sample at our disposal of slightly less than 1000 paired data points spread across all Switzerland, we focus on using the most efficient type of repeated-measurement...

The real estate market is well-known for its illiquidity. The lack of regular transactions renders the measurement of returns a complicated matter. In this paper we construct an index of the Swiss residential market starting as early as 1950. Given the data sample at our disposal of roughly 1000...

The current study explores the degree to which real estate investors rely on extrapolation to form expectations about future returns and risk and whether pricing is influenced by cognitive biases. A survey of Swiss institutional market participants elicits past portfolio returns and risk as well...