... of the subject in advanced countries as a guide to practitioners in developing countries. The paper identified the various concepts and attributes of real estate that make it a unique value‐adding product to a business organisation. The paper outlines performance measures that are in common practice in advanced...

... estate performance series across the world. The paper explains the steps that work through the obstacles of deriving an aggregate performance measure for each of the three regions and then combining them to get a global property returns series. Back‐casting series and weighting assumptions are also...

...STUART LOCKE The applicability of capital asset pricing theory to the derivation of performance measures for real estate is examined. Although risk and return are fundamental concepts in modern finance they are seldom treated formally in non‐academic discussions of asset performance. An explanation...