Modelling risk and expectation: forecasting yields in European office markets (Record no. 104914)

MARC details
000 -LEADER
fixed length control field 01976cam a2200181 4500
001 - CONTROL NUMBER
control field ##L131943
008 - FIXED-LENGTH DATA ELEMENTS--GENERAL INFORMATION
fixed length control field 051219n2000 000 0 eng u
035 ## - SYSTEM CONTROL NUMBER
System control number (Sirsi) u131943
041 0# - LANGUAGE CODE
Language code of text/sound track or separate title eng
100 1# - MAIN ENTRY--PERSONAL NAME
Personal name Sanderson, Ben
100 1# - MAIN ENTRY--PERSONAL NAME
Personal name Thoday, Corin
245 00 - TITLE STATEMENT
Title Modelling risk and expectation: forecasting yields in European office markets
260 ## - PUBLICATION, DISTRIBUTION, ETC.
Place of publication, distribution, etc. London
Name of publisher, distributor, etc. RICS
Date of publication, distribution, etc. 2000
520 ## - SUMMARY, ETC.
Summary, etc. Property investment professionals have been consistently hampered by the difficulties evident in forecasting property yields. These problems have stemmed partly from a lack of information to help model the risk associated with property relative to other investment classes. A further handicap, less specific to property, has been the fluctuating nature of investor expectations. The difficulties evident in accurately quantifying risk have led to previous research in this area relegating these considerations to model residuals. This paper takes a different approach in an attempt to model yields in seven core European office markets. Specific market, national and local factors are considered in estimating historical relationships between office property yields and economic and property specific explanatory variables. The analysis examines links between property yields and the traditional real risk free investment yield as well as the impact of expectations on historical yields. Property specific risk is also included as a potential explanatory variable. The paper concludes that within all the European markets considered there is a strong link between the property yield and the risk free interest rate, though the relationship varies in its' time lag depending upon the market examined. In addition the inclusion of risk and expectations to the office yield formation proves highly significant in the estimations for all the European markets.
520 ## - SUMMARY, ETC.
Summary, etc. This item is no longer available.
690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN)
Topical term or geographic name as entry element PROPERTY-COMMERCIAL PROPERTY-OFFICE PROPERTY
942 ## - ADDED ENTRY ELEMENTS (KOHA)
Suppress in OPAC 0
Holdings
Withdrawn status Lost status Source of classification or shelving scheme Damaged status Not for loan Home library Current library Shelving location Date acquired Total Checkouts Barcode Date last seen Copy number Price effective from Koha item type
    Dewey Decimal Classification     Virtual Virtual Online 19/12/2005   131943-2001 06/08/2019 1 06/08/2019 Book