Real Estate Investment: A Capital Market Approach [1 ed.] 0130200638, 9780130200631

Periodic worldwide economic turmoil over the last few decades has created an environment in which the degree of risk of

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Real Estate Investment: A Capital Market Approach [1 ed.]
 0130200638, 9780130200631

Table of contents :
Contents
Commonly used symbols
Introduction
Acknowledgements
Part 1—The time value of money and the valuation of cash flows
1—Valuation and financial theory: bridging the gap
2—Valuing cash flows
3—Simple freehold valuation models
4—Simple leasehold models
5—Mortgages and amortisation
6—The term structure of interest rates
7—Valuations and prices
8—Investment decision techniques
Part 2—Risk and return in real estate
9—Distributional characteristics of real estate returns
10—Risk, return and diversification
11—Constructing property portfolios
12—Valuation smoothing
Part 3—Portfolio management
13—The efficiency of the property market
14—Hedging against inflation
15—Developing a portfolio strategy
16—Performance measurement
17—Quantitative techniques
18—Some unanswered questions
Bibliography
Index

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