The specific risk of the UK real estate securities market
Language: English Series: Journal of Property Investment and Finance ; 26(5) 2008, 399-417(19)Publication details: 2008Subject(s): Summary: Using the single index methodology (SIM) over the period 1986-2003, this article assesses the risk involved in the public real estate securities market. Seeks to identify which of four benchmark indices used in SIM best distinguishes between the systematic and specific factors impacting on the UK FTSE Real Estate Index (FTSEREI). Finds that the link between FTSEREI and all four indices has weakened over the observable period, and that there is an identifiable risk cycle. Concludes that the greater vulnerability of the public real estate market is a significant threat to its long-term sustainability.| Item type | Current library | Call number | Copy number | Status | Barcode | |
|---|---|---|---|---|---|---|
| Journal article | London Journal article | L145226 (Browse shelf(Opens below)) | 1 | Available | 145226-1001 |
Using the single index methodology (SIM) over the period 1986-2003, this article assesses the risk involved in the public real estate securities market. Seeks to identify which of four benchmark indices used in SIM best distinguishes between the systematic and specific factors impacting on the UK FTSE Real Estate Index (FTSEREI). Finds that the link between FTSEREI and all four indices has weakened over the observable period, and that there is an identifiable risk cycle. Concludes that the greater vulnerability of the public real estate market is a significant threat to its long-term sustainability.