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Bayesian Modelling of a Standard House Configuration Model to Analyze Housing Feature Impacts in Newly Developed Suburbs without Historical Sales Journal of Real Estate Literature Pub Date : 2024-02-13 Christina Yin-Chieh Lin, Andrew Mason, Charles Ma, Andreas W. Kempa-Liehr
There is a recent trend of entire new suburbs being designed and built to solve the housing crisis all around the world. The aim of this study is to anticipate the value of housing features in newl...
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Pandemic-Driven Evolution: The Reshaping of Coworking Spaces in the (Post) COVID-19 Era Journal of Real Estate Literature Pub Date : 2024-01-08 Marko Orel, Ferhat Demir, Chiara Tagliaro, Andrej Rus
In recent years, coworking spaces, tailored for location-independent professionals, have flourished. However, the COVID-19 pandemic dramatically altered their conventional operations, necessitating...
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The Real Estate Academic Leadership (REAL) Rankings for 2019–2023 Journal of Real Estate Literature Pub Date : 2024-01-08 Jesse Saginor
This iteration of the rankings is the ninth release of the Real Estate Academic Leadership (REAL) rankings for authors and institutions. The top three real estate journals - The Journal of Real Est...
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Globalization and Skyscrapers: The Role of Architects in Latin America and Southeast Asia Journal of Real Estate Literature Pub Date : 2023-12-04 Nestor Garza, Sofia Dermisi, Leopoldo Gomez-Ramirez
This paper performs a theoretical-empirical analysis of the effect of globalization on buildings’ height in Latin America and Southeast Asia. We develop a principal-agent model where global archite...
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Constructing House Price Indices in an Emerging Market: The Case of Kuwait Journal of Real Estate Literature Pub Date : 2023-12-04 Abdullah Adel Alfalah, Eamonn D’Arcy, Simon Stevenson
The estimation of reliable house price indices can be problematic in the context of small and emerging markets, often due to data availability issues. This paper considers a number of alternative a...
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A Proposal for a Residential Housing Price Index in Cyprus Through Analysis of Transaction-Based Data and Comparison With Existing Indices Journal of Real Estate Literature Pub Date : 2023-08-16 Stelios Apostolidis, Thomas Dimopoulos, Martha Katafygiotou
This research suggests improvements to the macroeconomic housing indices of a thin real estate market, such as that of Cyprus, by testing various index construction methods with transaction-based d...
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The Evolution of Hedonic Pricing Models Journal of Real Estate Literature Pub Date : 2023-05-10 Mahsa Khoshnoud, G. Stacy Sirmans, Emily N. Zietz
Abstract This study extends the work by Sirmans et al. (2005 Sirmans, G. S., Macpherson, D. A., & Zietz, E. N. (2005). The composition of hedonic pricing models. Journal of Real Estate Literature, 13(1), 3–43. https://doi.org/10.1080/10835547.2005.12090154[Taylor & Francis Online] , [Google Scholar]) by providing a review of the hedonic pricing model literature published in real estate journals from
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Research and Citation Trends in Sustainable Real Estate Journal of Real Estate Literature Pub Date : 2023-03-08 Robert Simons, Aly Karam, Yan Xiao, Amelia S. Caldwell
Abstract Interest in sustainable real estate has grown since 2009 when the American Real Estate Society launched its open access Journal of Sustainable Real Estate. Using this as a catalyst, we abstracted and analyzed 265 articles published in the nine other journals in the ARES/IRES sustainable real estate space, documenting the evolution of sustainable property research for research topic, geography
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The Real Estate Academic Leadership (REAL) Rankings for 2018–2022 Journal of Real Estate Literature Pub Date : 2022-12-15 Jesse Saginor
Abstract This is the eighth release of the Real Estate Academic Leadership (REAL) rankings for authors and institutions. Similar to the previous seven releases, the rankings reflect articles contained in the top three real estate journals (The Journal of Real Estate Finance and Economics, The Journal of Real Estate Research, and Real Estate Economics) based on multiple indices. Unlike trends from the
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Critical Review of Residential Development Project Financing in India Journal of Real Estate Literature Pub Date : 2022-11-28 Shiv Prasad Singh, Amit Kumar, Deepak Bajaj
Abstract Financing of Residential Real Estate Development (RRED) projects has not received due attention in India beyond affordable (social) housing. RRED projects continue to finance themselves through customer advances, which has been disrupted because of recessionary market conditions, supply glut, and the tough stance of the Reserve Bank of India. This has resulted in thousands of stalled RRED
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Determinants in Commercial Real Estate Credit Spread Models—A Review Journal of Real Estate Literature Pub Date : 2022-11-21 Ricarda Haffki
Abstract This article presents a systematic literature review of the determinants of commercial real estate loan credit spreads from 1989 to 2019. The motivation for this analysis is twofold. First, credit spread models receive little attention in commercial real estate, since research mainly focuses on the drivers of housing credit spreads. Second, data availability in the commercial real estate loan
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A Literature Review of Environmental, Social, and Governance (ESG) in Commercial Real Estate Journal of Real Estate Literature Pub Date : 2022-09-09 Spenser Robinson, Michael G. McIntosh
Abstract Environmental, social, and governance (ESG) measures continue to grow in both academic and industry relevance. This review focuses on the commercial real estate literature related to ESG measures. The environment section outlines the significant bodies of work on that area, which are well researched. Related work discussing literature on ISO 14000, the system accepted by the United Nations
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A Review of the Provision on Capital Improvement in Ghana’s Local Real Estate Tax Manifesto Journal of Real Estate Literature Pub Date : 2022-07-11 Kwasi Gyau Baffour Awuah, Felix N. Hammond
Abstract Although a potential to improve revenue mobilisation of local authorities, it is claimed Ghana’s local real estate tax provision on capital improvement is a penalty on land development. This work evaluates the claim in the context of equity and economic efficiency. Findings from the work support the claim. Compared with undeveloped lands particularly in cities, the tax is discriminatory to
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The Effect of Homeownership on Low-Income Families: A Pilot Study with Habitat for Humanity Journal of Real Estate Literature Pub Date : 2022-07-05 Thomas J. PlaHovinsak II
Abstract While some studies have attempted to prove the existence of positive benefits associated with homeownership, the so-called “homeownership effect,” few studies have been able to isolate the impact of homeownership on low-income families from neighborhood effects. In a pilot study using survey data collected from applicants to the U.S.-based housing charity Habitat for Humanity, I employ a quasi-experimental
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Trends, Taxonomy and the Future of Housing Research in Ghana: A Bibliometric–Thematic Study Journal of Real Estate Literature Pub Date : 2022-05-12 Godwin Kavaarpuo, Kwadwo Ohene Sarfoh
Abstract Robust research in housing is a critical component to addressing the many housing challenges most developing cities face. In this study, we provide a comprehensive account of the evolving housing literature in Ghana based on an analysis of journal articles published in 19 top-tier housing, urban and real estate journals using bibliometric and thematic analyses. Of the 114 articles published
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Got Hurt for What You Paid? Revisiting Government Subsidy in the U.S. Mortgage Market Journal of Real Estate Literature Pub Date : 2022-01-07 Yunhui Zhao
Abstract Using a screening model with asymmetric information, I evaluate the positive and normative effects of the subsidized default insurance policy in the U.S. mortgage market. The model implies that the subsidy raises interest rates for eligible mortgages, which is contrary to conventional wisdom but is consistent with the empirical evidence in Zhao (2019 Zhao, Y. (2019). Evidence of government
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The Real Estate Academic Leadership (REAL) Rankings for 2017–2021 Journal of Real Estate Literature Pub Date : 2021-12-14 Jesse Saginor
Abstract This is the seventh release of the Real Estate Academic Leadership (REAL) rankings for authors and institutions. These rankings continue to include articles published solely in the top three real estate journals (The Journal of Real Estate Finance and Economics, The Journal of Real Estate Research, and Real Estate Economics) based on multiple rankings. Despite the pandemic and impacts to university
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Adjustments in the Labor and Real Estate Markets: Estimates of the Time Series Variation in the Natural Vacancy Rate Journal of Real Estate Literature Pub Date : 2021-12-13 Angela J. Black, Steven P. Devaney, Patric H. Hendershott, Bryan D. MacGregor
Abstract Large similarities exist between the labor and real estate space markets. The natural rate of unemployment (NRU) and the natural vacancy rate (NVR) are important in modeling these markets. The real estate literature has drawn on early modeling of the labor market and has predominantly assumed the NVR to be constant in time. We consider a range of approaches to estimate cross-sectional and
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The Impact of Walkability on the Sales Price of Commercial Properties When Controlling for the Effects of Economic Recession: A Case Study of Omaha, Nebraska Journal of Real Estate Literature Pub Date : 2021-07-08 Rebecca Ivey, Bradley Bereitschaft
Abstract In this paper, we assess the potential impact of walkability on commercial property sales prices in Omaha, Nebraska in the years during and following the “Great Recession.” Walkability was determined using Walk Scores provided by Walkscore.com; commercial property sale prices were acquired from the Douglas County, NE (the core county of the Omaha metro) Assessor’s Office. The relationship
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Shopping Malls: Predicting Who Lives, Who Dies, and Why? Journal of Real Estate Literature Pub Date : 2021-07-23
Abstract This paper discusses the state of shopping malls in the United States with the goal to identify factors that contribute to the health of malls and why some fail and others survive. A model is developed that is used to rank shopping malls and that can be used to gauge the health of other malls. Suggestions are provided for addressing what has been dubbed the "retail apocalypse."
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The Relationship of Green Office Buildings to Occupant Productivity and Organizational Performance: A Literature Review Journal of Real Estate Literature Pub Date : 2021-04-27 Saul Nurick, Andrew Thatcher
Abstract The purpose of this paper is to identify and critically evaluate previous research that examines the link between green office buildings and the productivity of commercial building occupants. The overarching approach is to highlight and critique the key findings from a variety of researchers that attempt to find links specifically between indoor environmental quality (IEQ) and individual productivity
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Evaluating Hotel Time-To-Delivery (TTD): Influencing Factors and Financial Performance Journal of Real Estate Literature Pub Date : 2021-04-27 Jeffrey G. Robert, John W. O’Neill
Abstract The assumptions real estate developers make regarding hotel development have a significant effect on the net present value (NPV) and internal rate of return (IRR) of the proposed project. While controlling for major hotel characteristics, we study the effect of hotel time-to-delivery (TTD), consisting of both planning and construction time, on the performance of hotel operations: occupancy
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The FIMA NFIP’s Redacted Policies and Redacted Claims Datasets Journal of Real Estate Literature Pub Date : 2021-02-04 Timothy Dombrowski, Dimuthu Ratnadiwakara, V. Carlos Slawson Jr.
Abstract The National Flood Insurance Program (NFIP) was created in 1968 and allows homeowners, renters, and businesses to purchase flood insurance from the federal government. During the summer of 2019, without compromising privacy, the Federal Emergency Management Agency (FEMA) released two datasets containing roughly 50 million flood insurance policy observations (beginning in 2009) and 2.5 million
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The Effect of Virtual Tours on House Price and Time on Market Journal of Real Estate Literature Pub Date : 2021-02-01 Wei Yu, Zhongming Ma, Gautam Pant, Jing Hu
Abstract The integration of augmented reality in virtual tours was recently identified as a top emerging trend in real estate. However, little research has been conducted to examine the impact of existing virtual tours on house search process and transaction price. Our article aims to fill this gap by studying the impact of virtual tours on transaction price and marketing duration (time on market)
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The Real Estate Academic Leadership (REAL) Rankings for 2016–2020 Journal of Real Estate Literature Pub Date : 2021-02-01 Jesse Saginor
Abstract This is the sixth release of the Real Estate Academic Leadership (REAL) rankings for authors and institutions. These rankings only account for articles published in the top three real estate journals (Journal of Real Estate Finance and Economics, Journal of Real Estate Research, and Real Estate Economics). Unlike previous versions of these rankings, this year’s results include a discussion
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What Are the Real Determinants of Housing Tenure Decisions? The Empirical Evidence on Five Hypotheses Journal of Real Estate Literature Pub Date : 2021-02-01 Jinyhup Kim
Abstract For many years in the United States, there has been consistent interest in academic research and policy debate regarding household tenure choice as researchers aim to drive policy that promotes higher levels of homeownership. Despite myriad studies and debates concerning the real causes of changes in housing tenure, there is still much disagreement on the contributing factors to this phenomenon
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Analysis of the Factors Affecting Will-Making for Property Transfer and the Role of Corporate Social Responsibility in Property Management Journal of Real Estate Literature Pub Date : 2020-12-08 Solomon Pelumi Akinbogun, Clinton Aigbavboa
Abstract Despite failing the test of local acceptance, customary law often applies to intestate administration of property rights in Nigeria. The purpose of this study is to analyze the factors affecting will-making for property transfer by descent and the impact of corporate social responsibility (CSR) of property managers in a city where intestacy is widespread. Using a set of data collected from
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Characteristics and Role of the Malaysia Commercial Real Estate Market Journal of Real Estate Literature Pub Date : 2020-01-02 Jufri Marzuki,Zaharah Manaf
The commercial real estate market in Malaysia is a high-performing and important emerging real estate market in the Asia-Pacific region and globally. It has the features and qualities usually found...
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The Benefits and Costs of Tax Deferral: An Analysis of Section 1031 Exchanges Journal of Real Estate Literature Pub Date : 2020-01-02 David Barker,David C. Ling,Milena Petrova
We examine the effects of Section 1031 of the Internal Revenue Code on commercial real estate (CRE) investors and markets, as well as on U.S. Treasury revenue. We first develop a partial equilibriu...
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Underpriced REITs: The Long & The Short of It Journal of Real Estate Literature Pub Date : 2020-01-02 George D. Cashman,David M. Harrison,Hainan Sheng
Effective and efficient decision making relies upon asset pricing models. Over the past 25 years, these models have increased markedly in their sophistication from the classic single-factor (CAPM) ...
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A Summary of Recent Urban Form Literature and Discussion of the Implications for Real Estate Developers and Investors Journal of Real Estate Literature Pub Date : 2020-01-02 Andrew Mueller,Drew Sanderford
Recent literature using the city and its shape as a lens through which to examine various socio-technical phenomena adds new and important perspective to conversations about real estate, efficient ...
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What It Takes: Lessons in the Pursuit of Excellence Journal of Real Estate Literature Pub Date : 2020-01-02 Joshua A. Harris
What it Takes: Lessons in the Pursuit of Excellence is the autobiography of Stephen A. Schwarzman, founder of The Blackstone Group and now legendary icon of the private equity industry. This book h...
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Why is Black-White Residential Segregation Persistent? A Review of Recent Empirical Evidence Journal of Real Estate Literature Pub Date : 2020-01-02 Jinyhup Kim
This study explores residential segregation in most U.S. metropolitan areas with an emphasis on separation between Black and White households. Based on six hypotheses for the underlying causes of B...
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The Impact of Like-Kind Exchanges on Investment, Leverage, and Liquidity Journal of Real Estate Literature Pub Date : 2020-01-02 David C. Ling,Milena Petrova
The empirical evidence on the effects of tax incentives on investment is mixed. Recent finance and accounting empirical studies have relied on cross-sectional studies using financial statement data...
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The Hedonic Modeling of Property Prices: Case Study on Cape Town, South Africa Journal of Real Estate Literature Pub Date : 2019-12-01 Douw Gert Brand Boshoff,Joseph Awoamim Yacim,Abdullahi Alhassan Ahmed
Abstract The real estate and valuation discipline has embraced the recent developments in spatial data analysis as a way of remediating obvious limitations of the ordinary least squares (OLS) appro...
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Recreational Marijuana Legalization: Its Effects on Hotel Performance Journal of Real Estate Literature Pub Date : 2019-12-01 John W. O'Neill
Abstract As states and local areas consider legalizing the use of recreational marijuana, research is needed for hotel real estate owners/investors and government officials to understand its effect...
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Ethnic Differences Behind Home Price Disparities in a Midsize City: The City of Akko, Israel as a Case Study Journal of Real Estate Literature Pub Date : 2019-12-01 Nasr Kheir,Boris A. Portnov,Rassem Khamaisi
Abstract The study focuses on intra-urban disparities in home prices in the city of Akko in Israel, historically divided into the section with a Jewish majority, the section with an Arab majority, ...
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Green Certifications in Residential Real Estate: Discounted Cost Savings or Name Recognition? Journal of Real Estate Literature Pub Date : 2019-12-01 Justin D. Benefield,Frank Hefner,Harris Hollans
A variety of green certifications is now available for residential housing in the United States. However, they have not been thoroughly investigated yet. The few existing studies have found positiv...
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Real Estate Image Analysis: A Literature Review Journal of Real Estate Literature Pub Date : 2019-12-01 David Koch,Miroslav Despotovic,Sascha Leiber,Muntaha Sakeena,Mario Döller,Matthias Zeppelzauer
Abstract Image analysis and computer vision are powerful techniques that are successfully used in different domains, but have hardly found their way into the real estate sector. However, real estat...
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Corporate Headquarters Location Preferences in the South African Metropolitan Areas: A Conjoint Analysis Approach Journal of Real Estate Literature Pub Date : 2019-12-01 Thabelo Ramantswana,Koech Cheruiyot,Samuel Azasu
Abstract The preferences of location for corporate headquarters (CHQs) vary across different contexts. We reviewed the location preference levels among the South African CHQs located in different m...
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Determinants of Ownership Rates among New Immigrants to Israel: Ethnic Origin and Tenure Mode in the Host Country Journal of Real Estate Literature Pub Date : 2019-12-01 Yuval Arbel,Chaim Fialkoff,Amichai Kerner
Abstract The immigration motivation hypothesis stresses the different inclinations of new immigrants to settle permanently in the host country. The group of reactive immigrants, who lack the real o...
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The Real Estate Academic Leadership (Real) Rankings for 2015–2019 Journal of Real Estate Literature Pub Date : 2019-12-01 Jesse Saginor
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Protecting Commercial Real Estate and Crowded Places from Terrorism Journal of Real Estate Literature Pub Date : 2019-08-01 David McIlhatton,Rachel Monaghan,Jim Berry,John Cuddihy,David Chapman,Pernille Christensen
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Increasing the Understanding of Fiscal Impact Analysis to Help Real Estate Developers More Effectively Manage Process Risk Journal of Real Estate Literature Pub Date : 2019-08-01 Dustin C. Read,Thomas Skuzinski,Andrew R. Sanderford
Abstract Municipal governments have conducted fiscal impact analysis for decades to plan for and evaluate anticipated real estate development. Nonetheless, the literature offers relatively little g...
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Where Else Do the Top 47 Real Estate Researchers Publish? Journal of Real Estate Literature Pub Date : 2019-08-01 Regina M. Beard,Marcus T. Allen
Abstract In a recent article in this journal, Saginor (2015) identified and ranked the top 47 real estate researchers based on the number of their appearances as authors of articles in the three mo...
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The Impact of South African REIT Portfolio Composition on Diversification Benefits for Foreign REIT Investors Journal of Real Estate Literature Pub Date : 2019-08-01 Riëtte Carstens,Julia Freybote,Johan De Villiers
Abstract We investigate the impact of the geographical investment focus of real estate investment trusts (REITs) in South Africa on their potential diversification benefits for foreign REIT investo...
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The Study of the Residential Real Estate Market in the Republic of Kazakhstan Journal of Real Estate Literature Pub Date : 2019-08-01 Azamat Auyezkhanuly,Manap Almagul,Aidos Akpanov,Alma Karshalova
Abstract In this study, we assess the residential real estate market in the Republic of Kazakhstan and develop measures to improve its affordability. We use comparative and retrospective analysis o...
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Analysis of the Performance and Diversification Benefits of the South Africa Commercial Real Estate Market Journal of Real Estate Literature Pub Date : 2018-10-01 Jufri Marzuki
Abstract The South Africa real estate market is an important African real estate market, having attracted considerable investor interest in recent years; particularly from domestic real estate inve...
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A Review and Extension of Merger and Acquisition Research Between REITs and General Corporations Journal of Real Estate Literature Pub Date : 2018-10-01 John L. Glascock,Ying Zhang,Tingyu Zhou
Abstract We review the key differences between the finance and real estate literature on mergers and acquisitions (M&As) from 1980 to 2016. We summarize the differences in M&As between REITs and ge...
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The Real Estate Academic Leadership (Real) Rankings For 2014–2018 Journal of Real Estate Literature Pub Date : 2018-10-01 Jesse Saginor
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Using Online Search Queries in Real Estate Research with an Empirical Example of Arson Forecast Journal of Real Estate Literature Pub Date : 2018-10-01 Artem Meshcheryakov
Abstract In this paper, I introduce a user's guide to Google Trends, a service created by Google to make statistics about online searches available to everyone at no cost. I review the service's ad...
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What Constitutes a Research Contribution in Real Estate Related Fields? A Survey of Journal Editors Journal of Real Estate Literature Pub Date : 2018-10-01 Samuel Azasu,Robert A. Simons
Abstract The real estate academy has always prioritized with the quality of research and research contribution. We conducted an online survey of journal editors and associate editors in real estate...
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Developing Vehicles for Collective Investment in Real Estate in the Russian Federation Journal of Real Estate Literature Pub Date : 2018-10-01 Daniyar Altayevich Kaldiyarov,Mihail Nikolaevich Dudin,Konstantin Yurievich Reshetov,Boris Igorevich Bashilov,Igor Yurievich Noskov
Abstract The goal of this study is to analyze trends in the development of real estate investment trusts (REITS) in Russia and to identify promising vehicles for collective investment in real estat...
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The Impact of Introducing REITs on Foreign Investments and Liquidity in South Africa Journal of Real Estate Literature Pub Date : 2018-07-01 Riëtte Carstens,Julia Freybote
Abstract More than 30 countries have introduced real estate investment trusts (REITs). One main objective is to attract foreign investors and improve the liquidity of the respective listed property sector. We investigate whether the introduction of REITs meets this objective by using the South African listed property sector as a laboratory. In particular, we employ panel data to investigate whether
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Retired, Rehabbed, Reborn: The Adaptive Reuse of America's Derelict Religious Buildings and Schools Journal of Real Estate Literature Pub Date : 2018-07-01 Robert A. Simons,Gary DeWine,Larry Ledebur,David M. Harrison
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Are There Cycles in Real Estate Cycles Research? Evidence from 30 Years of Papers Presented at Real Estate Society Meetings Journal of Real Estate Literature Pub Date : 2018-07-01 Kämpf-Dern Annette,Stephen E. Roulac,Stephen A. Pyhrr
Abstract Since the 1990s, real estate cycles research (RECR) has become an important part of real estate research societies' annual meetings. Pyhrr, Born, Manning, and Roulac (2003) developed a framework for structuring and classifying the body of knowledge on RECR. Since 2003, extensive and growing diversity in RECR has suggested several inadequacies in the original framework. In this paper, we explain
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Hotel/Lodging Real Estate Industry Trends and Innovations Journal of Real Estate Literature Pub Date : 2018-07-01 Chris Manning,Jan deRoos,John W. O'Neill,Barry A.N. Bloom,Anjali Agarwal,Stephen Roulac
Abstract We review the “Hotel/Lodging Real Estate Industry Trends and Innovations” discussed by panelists at the Thirty-Second Annual Meeting of the American Real Estate Society in Denver, Colorado, in Spring, 2016. More specifically, based on that event's presentations, questions, and subsequent feedback, we discuss four hotel / lodging real estate trends to suggest additional future research collaboration
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The Impact of Corporate Governance Moderating Effects on the Performance of REITs in Asia Journal of Real Estate Literature Pub Date : 2018-07-01 Wei Lan Chong,Kien Hwa Ting,Fan Fah Cheng
Abstract Corporate governance can have an effect on the organizational behavior of real estate investment trusts (REITs). We examine the moderating effects of corporate governance on Asia REITs' performance. We find significant corporate governance moderating effects on the performance of Asian REITs. Corporate governance could either act as a positive or a negative moderator that could enhance and
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The Impact of Unconventional Monetary Policy Shocks in the U.S. on Emerging Market REITs Journal of Real Estate Literature Pub Date : 2018-07-01 Rangan Gupta,Hardik A. Marfatia
Abstract In this paper, we estimate a qualitative vector autoregression (Qual VAR) model, in which we combine the binary information of quantitative easing (QE) announcements with an otherwise standard VAR model that includes U.S. and emerging market real estate investment trust (REIT) returns. The Qual VAR uncovers the Federal Reserve's latent, unobservable propensity for QE and generates impulse
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Climate Change and Housing Choice: the Impact of Climate Differences on Capital-Land Elasticity of Substitution Journal of Real Estate Literature Pub Date : 2018-07-01 Yuval Arbel,Chaim Fialkoff,Amichai Kerner
Abstract We examine the hypothesis that developers and consumers are more responsive to variations in the relative price of land in areas with a warmer climate. We proxy the climatic factor by the ...