Journal of Property Investment & Finance: Volume 33 Issue 6


Table of contents

Defining the three Rs of commercial property market performance: Return, risk and ruin

David Higgins

Modern property investment allocation techniques are typically based on recognised measures of return and risk. Whilst these models work well in theory under stable conditions…


Real estate fund active management

Stephen Lee, Giacomo Morri

The purpose of this paper is to analyse the performance of UK property funds using the dual sources of active management, Active Share and tracking error, to distinguish between…


The cost of equity estimation in emerging Europe: the case of Bulgarian REITs

Nigokhos Krikorov Kanaryan, Peter Chuknyisky, Violeta Kasarova

The International Valuations Standards Committee adopts the Capital Asset Pricing Model as a method for estimation of the cost of equity. It has several drawbacks and appraisers…

An investigation of development appraisal methods employed by valuers and appraisers in small and medium sized practices in Brazil

Paul Michael Greenhalgh, Roberto Soares Bendel

Whilst the real estate development appraisal practices of large national and international real estate companies are well understood, relatively little is known about how…


Real estate portfolio construction for a multi-asset portfolio

Jon R.G.M Lekander

The purpose of this paper is to explore how tenant end demand dependence and investment market segmentation, as estimated through sector type, impacts real estate portfolio…


The valuation of an airport as a commercial enterprise

Colin Jones, Neil Dunse

The purpose of this paper is to question whether traditional cost approaches apply to the valuation of an airport now that they are no longer public utilities but very much…


Compulsory purchase and compensation update – 2015

Gary Sams

– The purpose of this paper is to provide a summary and analysis of recent legal decisions relating to compensation for compulsory purchase.

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  • Nick French