... of the cities towards increasingly outlying areas, and it increases the value of those places where there is a shortage of supply factors, such as land, tensing its prices. © MCB UP Limited 2003 Spain Property markets Supply and demand Housing It is common to find how housing prices have...

... to see if this offers improved out‐of‐sample forecasting performance in property markets. This is compared with the outcome from both the original model and with benchmark naïve forecasts over three 12‐month out‐of‐sample periods. The study will look at securitised property in three international...

..., but each contains different flexibilities associated with the timing of development. © MCB UP Limited 2001 Property markets Empirical study Investment Land use In the conventional residual approach of valuation, land value is simply estimated as the difference between the market...

... that arbitraging the small stocks by reading the price movement of the large firms could give possible abnormal returns to the investor. © MCB UP Limited 2001 Property markets Stock markets Assets Diversification Cointegration Diversifications by geographic region and property type...

... urban centres. © MCB UP Limited 2001 Commercial property Scotland Offices Property markets The lack of good quality data on property transactions means that there have been few published studies of the structure and performance of local office markets in the UK (Jones, 1995...

.... Spatial autocorrelation, however, is hardly improved (0.4365). © MCB UP Limited 2000 Modelling Property markets Geographical information systems Location Adding census variables to the basic model (Model C, Step 3) clearly improves its strength (R‐square: 0.894 and SEE: 11.16 per...

... results for a better understanding of the Scottish property market, as well as the more general modelling, are sketched out. © MCB UP Limited 2000 Property markets Rent Modelling Retail construction orders are I(1) in all areas examined. Office construction orders are primarily I...

...Sarah Sayce Property markets Property performance The very title of this publication, which comprises a set of six working papers, is daunting. All readers of this review will be only too aware of just how fast the business context is changing and of the increased volatility...

... of analysis and research in property markets is to improve, it is incumbent on researchers to make their findings accessible to those in practice willing to listen and learn. This does not mean lowering standards but improving communication. Where results are presented in an opaque fashion, they can have...

... of the 99 undergraduate students, no possibility of discussion or collusion of any kind. © MCB UP Limited 1998 Housing Property markets Increasing attention is being given to how people actually make economic decisions rather than how they should behave in order to fit theories. One...

... bond market. In this market the vendors using this method to calculate the exit value of their investments are actually accepting an incorrect lower price. © MCB UP Limited 1996 Australia Discounted cash flow Property markets Valuation This study empirically examines two...

... but take too long and are too expensive to perform for almost all rental valuations. © MCB UP Limited 1996 Gross value Landlord and tenant Leasing Net rents Property markets Property valuers (appraisers) assess current market rental values for various contractual, statutory...

...Geoffrey Keogh Examines the development of the Spanish non‐residential property market over the last 20 years and in particular since the Boyer reform of 1985. Explores the legal framework of property interests to demonstrate that the legal prerequisites of a mature market form are now in place...

...Seow Eng Ong; Teck Ian Chew Property investment requires accurate market forecasts. The use of judgemental forecasting to predict property market performance is well established and widely practised. However, the need to deal with a large number of variables and to assess the impact of structural...

...Matthias Thomas While there are numerous indices for the German stock and bond markets, no performance index exists for the German property market, yet foreign institutional investors in particular are interested in the creation of a performance index, in order to achieve an acceptable framework...

... is the real rent at period t, V_t is the actual vacancy rate at period t, vis the NVR and ais the speed of the adjustment parameter. In this study, the NVR is assumed to increase to support the normal operation of an expanding office property market. The value...

... evidence of the emergence of a property market in Hungary. The fundamental difficulty of a study of this nature is the lack of published material and data which precludes more detailed analyses. However, the data available do provide an initial insight and serve as a basis for further study over time...

...Geoffrey Keogh Outlines a simple analytical framework for interpreting property market behaviour across use, investment and development markets and reviews evidence on market activity over the period 1970‐1994. A simple model of rational switching within investment markets appears to be supported...

...Phillip Marshall; Chris Kennedy Investigates the methods and techniques by which development companies and their advisers value land and projects for development and redevelopment. Comments on the effect of the methodology on residential and commercial land prices in the property market. Concludes...

... industry – have potentially significant impacts on the property market. © MCB UP Limited 1991 Commercial property Financial flexibility International trade Post‐fordism Property markets Valuation The Property Market in a Changing World Economy Received (in revised form): 11th September...