Property companies’ share price discounts and property market returns The Singapore evidence

Kim Hiang Liow (School of Building and Estate Management, National University of Singapore, Singapore)

Journal of Property Finance

ISSN: 0958-868X

Publication date: 1 December 1996

Abstract

Analyses the quarterly share price discount/ premium of Singapore property companies in the period 1980‐94. Further investigations suggest an inverse relationship between the size of average valuation discount of property equity and direct property return even in the presence of a “pure” property factor in both markets. Lends further research evidence to the growing belief that property stocks may be regarded as proxy for direct property investments.

Keywords

Citation

Hiang Liow, K. (1996), "Property companies’ share price discounts and property market returns The Singapore evidence ", Journal of Property Finance, Vol. 7 No. 4, pp. 64-77. https://doi.org/10.1108/09588689610152390

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Publisher

:

MCB UP Ltd

Copyright © 1996, MCB UP Limited

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