In this paper, models are built and evaluated to forecast the share redemption suspensions and net asset value decreases of German open-end real estate funds. These models emphasize the potential role of qualitative investment ratings in the above two aspects. The results reveal that better...

Institutional investors, such as investment funds, are playing an increasingly important role in residential real estate markets. This raises the possibility that their actions might drive aggregate market outcomes and may change how and which macrofinancial shocks transmit to house prices. In a...

This Technical Report documents the construction and coverage of the IWH European Real Estate Index (EREI). Since 2018, we have used machine-learning methods to collect monthly listings of residential real estate available for sale or rent in up to 20 European countries. The Technical Report...

Das Thema Künstliche Intelligenz (KI) wird derzeit in unterschiedlichsten Kontexten diskutiert. Eine fachspezifische Analyse des Einsatzes Künstlicher Intelligenz im Tätigkeitsfeld des Immobilienfondsmanagements wurde allerdings noch nicht unternommen. Die vorliegende Arbeit widmet sich...

This study evaluates the risk-adjusted performance of Hospitality REITs using multi-factor asset pricing models and downside risk measures with the aim of assessing their diversification potential and crisis sensitivity. Unlike prior studies that examine REITs in aggregate, this study isolates...

This article contributes to an understanding of how real estate financialisation unfolds within a city in the global South, Johannesburg. It firstly shows that compared to what has been witnessed in the global North, real estate financialisation in South Africa is characteristically...

This study aims to explore the potential impact of the anticipated Georgian Real Estate Investment Trusts (REITs) on the performance of investment portfolios. Due to the absence of Georgian REITs, a simulated financial asset representing a Georgian Residential REIT was engineered. The study...

Industrial parks are significant consumers of energy, contributing to global carbon emissions and intensifying the need for strategic interventions to meet carbon reduction and energy efficiency goals. In China, the Real Estate Investment Trusts (REITs) model has been adopted to advance the...

This paper examines the quantile connectedness between Real Estate Investment Trusts (REITs), housing market sentiment, and stock market sentiment in the U.S. over the period between January 2014 and June 2022 using the quantile vector autoregression (QVAR) model. We find modest spillover...

Over the past four decades, China's real estate industry has experienced rapid growth, accompanied by frequent regulatory interventions. These shifts present an ideal context for examining the characteristics of private equity placements (PEPs) under varying industrial policy environments. This...

We examine foreclosure discounts and their subsequent impact on investor returns in Berlin's housing market from 1984 to 2022. Utilizing hedonic regression models and matching techniques on a data set of housing transactions, we determine that foreclosure discounts, ranging from 20% to 50%, are...

This study investigates the financial interconnections among Real Estate Investment Trusts (REITs), sukuk (Islamic bonds), and oil in Gulf Cooperation Council (GCC) nations. The study sample comprises S&P GCC Composite Equity Real Estate Investment Trusts (REITs) Shariah, the S&P GCC Bond and...

This paper examines the determinants of the changes in premiums to NAV in infrastructure REIT (infra-REIT) share prices in Singapore over the 2017-2021 period. Samples of 11 listed Singaporean REITs (S-REITs) are selected to create a balanced panel data for the analysis. Our finding shows that...

This paper reinvestigates the existing anomalous relationship between inflation and REIT returns in the USA. To analyze it, we employ both observed and unobserved regime-switching VAR models, along with two additional variables, namely, relative price variability and output growth. We find that...

The study investigates the impact of financial distress (credit spread) and liquidity crises (TED spread) on size, value, profitability, investment and momentum premiums within the US Real Estate Investment Trust market. Using daily data from 2001 to 2020, we examine the presence, magnitude and...

This study investigated the relationship between a sector-specific Australian Real Estate Investment Trust (A-REITs) and the underlying property assets in its property portfolio. The existing studies have assessed the connectedness/correlation between the A-REITs market and a variety of other...