Investment risk models with infinite variance provide a better description of distributions of individual property returns in the IPD UK database over the period 1981 to 2003 than normally distributed risk models. This finding mirrors results in the US and Australia using identical methodology....

Presents empirical evidence for a sample of 48 UK property company initial public offerings over the period 1986 to 1995. Several conclusions can be drawn. First, property companies in general show a significantly positive average first day return. Second, property investment companies’...

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...

ERES:conference