Search results

1 – 10 of 49
Content available
Article
Publication date: 23 July 2020

Paloma Taltavull

Abstract

Details

Journal of European Real Estate Research , vol. 13 no. 2
Type: Research Article
ISSN: 1753-9269

Content available
Article
Publication date: 22 April 2020

Paloma Taltavull

Abstract

Details

Journal of European Real Estate Research , vol. 13 no. 1
Type: Research Article
ISSN: 1753-9269

Content available
Article
Publication date: 24 December 2018

Paloma Taltavull

Abstract

Details

Journal of European Real Estate Research, vol. 11 no. 3
Type: Research Article
ISSN: 1753-9269

Content available
Article
Publication date: 20 November 2019

Paloma Taltavull

Abstract

Details

Journal of European Real Estate Research , vol. 12 no. 3
Type: Research Article
ISSN: 1753-9269

Content available
Article
Publication date: 8 May 2018

Paloma Taltavull

Abstract

Details

Journal of European Real Estate Research, vol. 11 no. 1
Type: Research Article
ISSN: 1753-9269

Content available
Article
Publication date: 3 September 2018

Paloma Taltavull

Abstract

Details

Journal of European Real Estate Research, vol. 11 no. 2
Type: Research Article
ISSN: 1753-9269

To view the access options for this content please click here
Article
Publication date: 2 May 2017

Paloma Taltavull, Ion Anghel and Costin Ciora

This paper aims to estimate the green premium effect of retrofitted apartments in Bucharest and draw comparisons with international examples.

Abstract

Purpose

This paper aims to estimate the green premium effect of retrofitted apartments in Bucharest and draw comparisons with international examples.

Design/methodology/approach

A geo-referenced transaction database including information on whether the property had been retrofitted is utilised. The paper uses two approaches to test the green premium. One is a hedonic model controlled by areas to estimate the price incentive of a green building. The second is a STAR GLS model evaluating the diffusion effect of house prices spatially by sub-market and assessment upon the pricing effect of green characteristics.

Findings

The authors’ findings suggest a green premium in two Bucharest areas of between 2.2 per cent and 6.5 per cent. Spatial diffusion effects are shown to contribute positively to house prices, but the unobserved spatial component reduces this effect.

Originality/value

This paper is the first to assess price impacts of green characteristics in Bucharest and one of the first analysing green premium using spatial techniques. The analysis is of significance to policymakers and real estate developers.

Details

Journal of European Real Estate Research, vol. 10 no. 1
Type: Research Article
ISSN: 1753-9269

Keywords

Content available
Article
Publication date: 4 June 2021

Paloma Taltavull and Michael White

Abstract

Details

Journal of European Real Estate Research, vol. 14 no. 1
Type: Research Article
ISSN: 1753-9269

Content available
Article
Publication date: 5 December 2020

Sven Bienert, Stanley McGreal and Paloma Taltavull

Abstract

Details

Journal of European Real Estate Research , vol. 13 no. 3
Type: Research Article
ISSN: 1753-9269

To view the access options for this content please click here
Article
Publication date: 10 June 2021

Zhenyu Su and Paloma Taltavull

This paper aims to analyse the risk and excess returns of the Spanish real estate investment trusts (S-REITs) using various methods, though focusing primarily on the…

Abstract

Purpose

This paper aims to analyse the risk and excess returns of the Spanish real estate investment trusts (S-REITs) using various methods, though focusing primarily on the Fama-French three-factor (FF3) model, over the period from 2007Q3 to 2017Q2.

Design/methodology/approach

The autoregressive distributed lag model is used for the empirical analysis to test long-term stable relationships between variables.

Findings

The findings indicate that the FF3 model is suitable for the S-REITs market, better explaining the S-REITs’ returns variation than the traditional single-index capital asset pricing model (CAPM) and the Carhart four-factor model. The empirical evidence is reasonably consistent with the FF3 model; the values for the market, size and value are highly statistically significant over the analysis period, with 68.7% variation in S-REITs’ returns explained by the model. In the long run, the market factor has less explanatory power than the size and value factors; the positive long-term multiplier of the size factor indicates that small S-REIT companies have higher returns, along with higher risk, while the negative multiplier of the value indicator suggests that S-REITs portfolios prefer to allocate growth REITs with low book-to-market ratios. The empirical findings from a modified FF3 model, which additionally incorporates Spain’s gross domestic product (GDP) growth rate, two consumer price index (CPI) macro-factors and three dummy variables, indicates that GDP growth rate and CPI also affect S-REITs’ yields, while investment funds with capital calls have a small influence on S-REITs’ returns.

Practical implications

The regression results of the standard and extended FF3 model can help researchers understand S-REITs’ risk and return through a general stock pattern. Potential investors are given more information to consider the new Spanish investment vehicle before making a decision.

Originality/value

The paper uses standard techniques but applies them for the first time to the S-REIT market.

1 – 10 of 49