Purpose – The purpose of this paper is to examine individual level property returns to see whether there is evidence of persistence in performance, i.e. a greater than expected probability of well (badly) performing properties continuing to perform well (badly) in subsequent periods....

Purpose – The purpose of this paper is to test the extent of convergence in rents and yields in the European real estate office market. Design/methodology/approach – The paper uses the concepts of beta‐convergence and sigma‐convergence to evaluate empirically the hypothesis of rent and...

Purpose – A number of studies have examined the convergence in European real estate markets and find that convergence is time‐varying. Additionally, the returns of some countries, notably the UK, are as equally, if not more, influenced by the real estate returns in the USA than those in...

Purpose – Italian real estate mutual funds have shown enormous growth over the past few years, however, little is known about their performance. The purpose of this paper is to correct this oversight. Design/methodology/approach – The risk‐adjusted performance, as measured by the Sharpe...

Purpose – There is a general consensus that residential submarkets exist, but the basis upon which these are specified remains the subject of debate. The purpose of this paper is to model data on different residential locations in Ghana to show how the submarkets have performed over the past...

This paper re‐examines the role of real estate within mixed asset portfolios from the perspective of an Irish portfolio manager. The nature of the investment market in the Republic of Ireland leads to the study extending the existing literature by expanding the universe of assets beyond a...

This study re‐examines the potential role that direct real estate can play in institutional mixed‐asset portfolios. The paper examines the statistical improvement in performance that can result from the inclusion of real estate in an international mixed asset portfolio, using both...

Purpose – The question as to whether it is better to diversify a real estate portfolio within a property type across the regions or within a region across the property types is one of continuing interest for academics and practitioners alike. However, this study is somewhat different from the...

Purpose – This paper seeks to address the question of consistency, regarding the allocation of real estate in the mixed‐asset portfolio. Design/methodology/approach – To address the question of consistency the allocation of real estate in the mixed‐asset portfolio was calculated over...