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

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.

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