.... This paper provides a partial solution by simulating the performance of bullet loans of various vintages, based on the value movements of the IPD index. Findings – On average over the long-term debt returns are higher than equity returns. However, in certain periods, the losses incurred by real estate...

... their effects into pricing models. Approaches to their valuation derived from option pricing are critically assessed. Simulation methododology is applied to the rental and capital valuations of short leases and properties with break clauses. It is concluded that in addition to the rigour of its internal logic...

... Simulation Two recent texts: Property Investment Appraisal (Baum and Crosby, 1995) and European Valuation Practice (Adair et al., 1996) cover this topic in some detail reflecting the growing interest in this area. The RICS Appraisal and Valuation Manual (RICS, 1995...

...Wayne L. Winston References Mollart , R. (1994 , “ Software review: using @RISK for risk ananlysis ”, Journal of Property Valuation & Investment , Vol. 12 No. 3 , pp. 89 ‐ 96 . @RISK Advanced Risk Analysis for Spreadsheets Simulating Modeling Using @Risk...

...Tim Dixon Wayne L.   Winston . Simulation Modeling Using @RISK . Duxbury Press , 1996 . (book with full‐functioning academic software), ISBN: 0 534 264921 (book with demonstration version software) Appraisal methods Excel Risk Simulation Designed to show...

...John MacFarlane Simulation is a powerful analytical tool which facilitates an investigation of financial risk through the examination of repeated outcomes from the same model. It is not, however, an easy matter to use simulation in a property investment context due to the existence of complex...