Journal of Property Investment & Finance: Volume 31 Issue 5

Office buildings in Germany: The influence of the employment structure on market selection by institutional investors

Jan Armin Schubert

According to normative‐rational investment decision models, investors who seek office buildings should select markets which show high employment numbers in office related sectors…

Binomial option pricing models for real estate development

Jianfu Shen, Frederik Pretorius

The purpose of this paper is to construct option pricing models for real estate development by considering and incorporating institutional arrangements, direct interactions and…

An investigation into the drivers of Australian REIT merger and acquisition announcements

Chris Ratcliffe, Bill Dimovski

The purpose of this paper is to use Australian Real Estate Investment Trust (A‐REIT) data to empirically examine potential influencing factors on A‐REITs becoming a bidder or a…

Australian industry superannuation funds: Investment strategies and property allocation

Wejendra Reddy, David Higgins, Mark Wist, John Garimort

To achieve long‐term performance, superannuation balanced funds typically invest in a range of defined asset classes based on a strategic asset allocation approach. In an…

Modelling uncertain operational cash flows of real estate investments using simulations of stochastic processes

Andreas Pfnür, Stefan Armonat

The purpose of this paper is to apply a numerical simulation of stochastic processes to the problem of real estate investment appraisal.

Property cycles

Richard Grover, Christine Grover

The purpose of this paper is to review what is known about property cycles following the financial crisis of 2008.