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Real-estate Derivatives

Author: Radu Tunaru

Publisher: Oxford University Press

Published: 2017

Total Pages: 289

ISBN-13: 0198742924

"...Provides a state-of-the-art overview of real-estate derivatives, covering the description of these financial products, their applications, and the most important models proposed in the literature...The book examines econometric aspects of real-estate index prices time series and financial engineering non-arbitrage principles that govern the pricing of derivatives...examples are based on real-world data from exchanges, major investment banks or financial houses in London. The numerical analysis is easily replicable with Excel and Matlab."--back jacket cover.

Property Derivatives

Author: Juerg M. Syz

Publisher: John Wiley & Sons

Published: 2008-12-08

Total Pages: 252

ISBN-13: 0470694556

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Property derivatives have the potential to revolutionize real estate - the last major asset class without a liquid derivatives market. The new instruments offer ease and flexibility in the management of property risk and return. Property funds, insurance companies, pension and life funds, speculators, hedge funds or any asset manager with a view on the real estate market can apply the new derivatives to hedge property risk, to invest synthetically in real estate, or for portfolio optimization. Moreover, developers, builders, home suppliers, occupiers, banks, mortgage lenders and governmental agencies can better cope with their real estate exposure using property derivatives. This book is a practical introduction to property derivatives and their numerous applications. Providing a comprehensive overview of the property derivatives market and indices, there is also in-depth coverage of pricing, hedging and risk management, which will deepen the readers understanding of the market's mechanisms. Covering both the theoretical and practical aspects of the property derivatives markets; this book is the definitive reference guide to a new and fast-growing market.

New Frontiers in Real Estate Finance

Author: Patrick Lecomte

Publisher: Routledge

Published: 2021-06-04

Total Pages: 222

ISBN-13: 1000395030

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This book introduces three innovative concepts and associated financial instruments with the potential to revolutionise real estate finance. The factorisation of commercial real estate with factor-based real estate derivatives is the first concept analysed in this book. Methodological issues pertaining to factors in real estate risk analysis are covered in detail with in-depth academic reference. The book then analyses the digitalisation of commercial real estate. The environment in which buildings operate is changing fast. Cities which used to be made up of inanimate architectural structures are growing digital skins and becoming smarter. Smart technologies applied to the built environment are fundamentally changing buildings’ role in cities and their interactions with their occupants. The book introduces the concept of smart space and analyses the emergence of ‘digital rights’ or property rights for smart buildings in smart environments. It proposes concepts and methods for identifying, pricing, and trading these new property rights which will dominate commercial real estate in the future. Finally, the tokenisation of commercial real estate is explored. Sometimes described as an alternative to securitisation, tokenisation is a new tool in financial engineering applied to real assets. The book suggests two innovative applications of tokenisation: private commercial real estate index tokenisation and data tokens for smart buildings. With factorisation, digitalisation, and tokenisation, commercial real estate is at the forefront of innovations. Real estate’s unique characteristics, stemming from its physicality, trigger new ways of thinking which might have a profound impact on other asset classes by paving the way for micro markets. Factor-based property derivatives, digital rights, and tokens embody how commercial real estate can push the boundaries of modern capitalism and, in doing so, move at the centre of tomorrow’s smart economies. This book is essential reading for all real estate, finance, and smart technology researchers and interested professionals.

Property Derivatives - A basic insight with a special focus on Austria

Author: Carina Wechtl

Publisher: GRIN Verlag

Published: 2012-03-02

Total Pages: 55

ISBN-13: 3869434848

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Bachelor Thesis from the year 2011 in the subject Economics - Finance, grade: 1.8, Fachhochschule des bfi Wien GmbH, language: English, abstract: Research Question: The main research question of this paper is: "How do property derivatives work and which advantages do they have?" This question is answered in the chapters two to five where the necessary parts to establish property derivatives and their advantages in comparison with other real estate investments are mentioned. The secondary questions are: "Is there a property derivatives market in Austria or even a potential?", and "For whom can a property derivative make sense and where is the state-of the-art in property derivative knowledge in Austria?" The first question is answered in chapter six and seven. The method to find out the state-of the-art of knowledge is identified in chapter seven.

Understanding German Real Estate Markets

Author: Tobias Just

Publisher: Springer Science & Business Media

Published: 2012-01-03

Total Pages: 409

ISBN-13: 3642236111

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Real estate is the biggest real asset class in an economy, and Germany is the biggest economy in Europe. This implies opportunities as well as specific risks for investors and policy makers. As the German real estate markets have by and large been spared severe disruptions in the course of the economic crisis, many questions arise for investors and academics alike. What are the key institutional characteristics of the German real estate markets that make it different? What are the short and long-term drivers of demand and supply? Which regional and functional market segments are most likely to outperform in the next few years? What are the most important pitfalls for investors in Germany? This book gives answers to these and many more questions. The editors have invited a broad range of extensively knowledgeable practitioners and academics from across the relevant real estate spectrum, i.e. economic, legal, tax, planning and financing issues, to express their views. There is no better English publication that gives such a profound and simultaneously entertaining overview of Germany’s real estate markets.

Derivatives

Author: Rangarajan Sundaram

Publisher: McGraw-Hill

Published: 2016-10-11

Total Pages:

ISBN-13: 9781260061703

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Real Estate Investment

Author: Andrew Baum

Publisher: Routledge

Published: 2015-05-20

Total Pages: 289

ISBN-13: 1317647866

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Real Estate Investment: A Strategic Approach provides a unique introduction to both the theory and practice of real estate investing, and examines the international real estate investment industry as it reacts to the global financial crisis. Andrew Baum outlines the market and the players who dominate it; the investment process; the vehicles available for investment; and a suggested approach to global portfolio construction. The book contains many useful features for students including discussion questions, a full further reading list and case studies drawing on international examples from the UK, continental Europe, the USA and Asia. Ideal for undergraduate and postgraduate students on all real estate and property courses and related business studies and finance courses, Real Estate Investment is designed to provide a foundation for the next generation of investment managers, advisers and analysts. Further resources for lecturers and students are available at: www.routledge.com/cw/baum

Real Estate Investment

Author: Andrew Baum

Publisher: Routledge

Published: 2015-05-20

Total Pages: 341

ISBN-13: 1317647874

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Real Estate Investment and Finance

Author: David Hartzell

Publisher: John Wiley & Sons

Published: 2020-10-28

Total Pages: 592

ISBN-13: 111952606X

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The fully revised and updated version of the leading textbook on real estate investment, emphasising real estate cycles and the availability and flow of global capital Real Estate Investment remains the most influential textbook on the subject, used in top-tier colleges and universities worldwide. Its unique, practical perspective on international real estate investment focusses on real-world techniques which measure, benchmark, forecast and manage property investments as an asset class. The text examines global property markets and real estate cycles, outlines market fundamentals and explains asset pricing and portfolio theory in the context of real estate. In the years since the text’s first publication, conditions in global real estate markets have changed considerably following the financial crisis of 2008-2009. Real estate asset prices have increased past pre-crisis levels, signalling a general market recovery. Previously scarce debt and equity capital is now abundant, while many institutions once averse to acquiring property are re-entering the markets. The latest edition – extensively revised and updated to address current market trends and practices as well as reflect feedback from instructors and students – features new content on real estate development, improved practical examples, expanded case studies and more. This seminal textbook: Emphasises practical solutions to real investing problems rather than complex theory Offers substantial new and revised content throughout the text Covers topics such as valuation, leasing, mortgages, real estate funds, underwriting and private and public equity real estate Features up-to-date sections on performance measurement, real estate debt markets and building and managing real estate portfolios Includes access to a re-designed companion website containing numerous problems and solutions, presentation slides and additional instructor and student resources Written by internationally-recognised experts in capital management and institutional property investing strategies, Real Estate Investment, Second Edition: Strategies, Structures, Decisions is an indispensable textbook for instructors and students of real estate fund management, investment management and investment banking, as well as a valuable reference text for analysts, researchers, investment managers, investment bankers and asset managers.

Merton Miller on Derivatives

Author: Merton H. Miller

Publisher: John Wiley & Sons

Published: 1997-08-25

Total Pages: 266

ISBN-13: 9780471183402

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Dieses Buch ist die sorgfältig umgeschriebene und redigierte Bearbeitung von Reden und Aufsätzen des Nobelpreisträgers Merton Miller, die seine persönlichen Einschätzungen des Marktes widerspiegeln. Gut verständlich wird die Problematik der Derivative sowie wichtige Themen der modernen Finanzwelt - jedoch ohne mathematische Formeln - erörtert. (10/97)