Science topics: EconomicsReal Estate Economics
Science topic
Real Estate Economics - Science topic
Real estate economics is the application of economic techniques to real estate markets. It tries to describe, explain, and predict patterns of prices, supply, and demand. The closely related fields of housing economics is narrower in scope, concentrating on residential real estate markets as does the research of real estate trends focus on the business and structural changes impacting the industry. Both draw on partial equilibrium analysis (supply and demand), urban economics, spatial economics, extensive research, surveys and finance.
Publications related to Real Estate Economics (77)
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This study examines the impact of school quality on house prices in London and Bristol before, during, and after the COVID-19 pandemic. Using cross-sectional data, the analysis highlights the relationship between proximity to high-quality state schools and residential property values, revealing shifts in buyer priorities influenced by pandemic-rela...
Unlike the rapid growth period of China's real estate market, full rational bidding decisions can no longer provide a sufficient theoretical basis for developers’ bidding decisions in land auctions under the transforming and upgrading market. Based on the first-price sealed-bid auction, this paper firstly establishes the standard model where bidder...
This article uses a logarithmic growth model to analyze the correlation between the national economy and real estate. It reveals the Granger causality between the national economy and the real estate economy. The results show a long-term equilibrium relationship and a two-way Granger causality between real estate prices and economic growth. Excessi...
The economy of real estate is intimately connected to people’s quality of life, living standards, and living situations, all of which are extremely important in economic life. In order to better understand the impact of tourism-driven real estate on economic growth, based on AHP, this paper establishes an evaluation model of tourism-driven real est...
A common definition of liquidity in real estate investment is the ability to sell property assets quickly at full value, as reflected by transaction volume. The present paper makes methodological and conceptual contributions in the study and understanding of liquidity. First, we extend the Fisher et al. (Real Estate Economics, 31(2), 269–303, 2003)...
Housing research is one of the hot topics in many countries. This paper provides a quick review of the housing economics research in the US, Sweden, Latvia, China, Corsica, and Italy published in this special issue. Bao and Shah studied the effects of home-sharing platforms in general and the effects of the US’ Airbnb on neighbourhood rent. Wilhelm...
The Doctoral Thesis “Evaluation of the state’s openness to international real estate transactions” is an individual scientific research developed at the Department of Civil Engineering and Real Estate Economics and Management of the Institute of Civil Engineering and Real Estate Economics of the Faculty of Engineering Economics and Management, Riga...
This dissertation studies spillovers in urban and housing markets. The first chapter studies the micro-structure of segmented local housing markets. With housing transactions data on 188 U.S. cities from 2000 to 2015, this chapter builds a workhorse model to study house price dynamics that includes supply side differences across cities. I show that...
The influence of real estate on finance and the whole economy has captured significant attention, especially since the aftermath of the Great Recession, because of the potential of this sector to destabilize markets. This paper explores the other way around: housing markets’ capacity to stabilize the economy through different macroprudential polici...
Course “Real Estate Economics” covers the legal, physical, economic and investment aspects of real estate, contains an overview of modern concepts regarding real estate.
The course offers an opportunity to gain theoretical and empirical knowledge in economics, geography, investment and law applied to development, regulations and performance of rea...
The study determined the acceptability of the Property for Sale and Use (P.S.U) game as a teaching tool used in the Real Estate Economics course for Economics students of Pangasinan State University. Specifically, the acceptability of the game is measured based on three indicators: attentiveness, relevance and satisfaction. Property for Sale and Us...
New perspectives and frontiers were highlighted in a Special Issue on “Real Estate Economics, Finance and Investments”. The twenty-eight papers that were selected and published emanated from scholars from universities all over the world with the aim to represent more recent advances in building management, mass appraisal methods, real estate risk m...
This textbook has been prepared to be used as part of the curriculum for the International Real Estate Transactions program. It is designed for the students of the Riga Technical University Faculty of Engineering Economics and Management the Institute of Civil Engineering and Real Estate Economics who are pursuing a professional bachelors or profes...
Islamic Banking is one of the financial Models of the modern world, which is currently gaining more and more international recognition and reliability both in East and West. The article reveals separate historical aspects of the genesis of Islamic Banking in order to better demonstrate the potential of this financial system now and in the future. T...
In the article we discuss the importance of the real estate related instruments used by local government to attract investment and stimulate local economic development. The article discusses economic literature related to public economics at the local government level, with the special emphasis put on the link between urban and real estate economic...
Like most industries, the real estate profession is becoming increasingly dependent on datarich and statistical analyses. As a result, the quality of the underlying data on which these techniques depend is critically important. Very little discussion in the real estate literature or the classroom, however, is given to acquiring, managing, cleaning,...
The ERES (European Real Estate Society)/JPR (Journal of Property Research) Award 2011 for Best Paper in Real Estate Economics
Bachelor Thesis, B.Sc. in Real Estate Economics
The publication records in finance and real estate journals of editorial board members of the top three business-oriented real estate journals - Real Estate Economics, Journal of Real Estate Research, and Journal of Real Estate Finance and Economics - are evaluated to discern the relative importance of both types of publication outlets in determini...
This study evaluates residential property as an institutional asset group in two European countries (Switzerland and the Netherlands). These are countries where housing is the main institutional property asset group, with institutional property portfolio allocations of over 52% and 50% respectively. Two criteria were used to evaluate residential pr...
Selection for membership on the editorial board of an academic journal is recognition of research productivity and achievement. Hence, the research productivity of board members can signal the strength of an underlying journal, the important journals within a discipline and set standards for research excellence. In this study, the research producti...
An understanding of how thirty real estate journals are perceived for promotion and tenure and for professional applicability was sought by surveying members of the two most important real estate academic organizations. Several subgroup comparisons were made revealing some common perceptions but a significant amount of disagreement as well. Among f...
This study provides an objective ranking of real estate journals by applying citation analysis. The number of times articles in a set of base journals were cited was tallied for the years 1990 through 1995. The base set included the Appraisal Journal, the Journal of Real Estate Finance and Economics, the Journal of Real Estate Research and Real Est...
This dissertation consists of three separate essays. The first two essays focus on real estate brokerage; one studies the conditions for efficient employment in the real estate brokerage industry under fixed commission rates and the other examines the role of real estate agents in buyer-seller bargaining. The third essay presents an integrated anal...
This study extends the work by Sirmans et al. (2005 Sirmans, G. S., Macpherson, D. A., & Zietz, E. N. (2005). The composition of hedonic pricing models. Journal of Real Estate Literature, 13(1), 3–43. https://doi.org/10.1080/10835547.2005.12090154[Taylor & Francis Online] , [Google Scholar]) by providing a review of the hedonic pricing model litera...
The aim of this study is to make a bibliographic analysis of the articles published between 1993-2022 in the journals indexed in the database Web of Science Core Collection Database on the subject of “Real Estate Finance”. Web of Science Core Collection Database was used in the preparation of the data file to be used in the research. 1405 articles...
This is the eighth release of the Real Estate Academic Leadership (REAL) rankings for authors and institutions. Similar to the previous seven releases, the rankings reflect articles contained in the top three real estate journals (The Journal of Real Estate Finance and Economics, The Journal of Real Estate Research, and Real Estate Economics) based...
This is the seventh release of the Real Estate Academic Leadership (REAL) rankings for authors and institutions. These rankings continue to include articles published solely in the top three real estate journals (The Journal of Real Estate Finance and Economics, The Journal of Real Estate Research, and Real Estate Economics) based on multiple ranki...
This paper estimates the value firms place on access to city centers and how this has changed with COVID-19. Pre-COVID, across 89 U.S. urban areas, commercial rent on newly executed long-term leases declines 2.3 percent per mile from the city center and increases 8.4 percent with a doubling of zipcode employment density. These relationships are str...
This dissertation is motivated by a desire to better understand the causes and consequences of geographic inequality in the US today. Using the models and methods from urban, real estate, and public economics, I study how housing, land use, and place-based policies interact to mitigate or exacerbate existing economic disparities. Ultimately, I hope...
With the development of economy and the progress of society, people's living standards are gradually improving, and the requirements for housing are also gradually improving. The development of the real estate industry provides conditions for people's modern life, and its development meets the needs of China's socialist development. In such a socia...
This is the sixth release of the Real Estate Academic Leadership (REAL) rankings for authors and institutions. These rankings only account for articles published in the top three real estate journals (Journal of Real Estate Finance and Economics, Journal of Real Estate Research, and Real Estate Economics). Unlike previous versions of these rankings...
In the society of ours, is it true really that computers and information technology have contributed immensely to the way we learn? After observing and reading various educational paraphernalia and scanning the environment research has shown that the educational systems have greatly been impacted by computers and information technology. With the gr...
This paper examines vertical patterns of employment density and agglomeration economies within tall buildings. Theory suggests that vertical density should depend on the interplay of street access, height-related amenities, and productivity. Based on suite level data, we show that density patterns are u-shaped, with high density at ground level and...
This dissertation studies how the built environment responds to increasingly interconnected markets. The first chapter studies how improvements in local accessibility influence cities' distributions of economic activity. Exploiting UberX's entry interacted with a location's prior accessibility, I measure how local economic activity responds to chan...
This is the fifth release of the Real Estate Academic Leadership (REAL) rankings for authors and institutions. These rankings only account for articles published in the top three real estate journals: the Journal of Real Estate Finance and Economics, the Journal of Real Estate Research, and Real Estate Economics. As mentioned in previous versions o...
This book explains the nuts and bolts of affordable housing development. Divided into two complementary sections, the book first provides an overview of the effectiveness of existing federal and state housing programs in the United States, such as the LIHTC and TIF programs. In turn, the book’s second section presents an extensive discussion of and...
We examine institutional investors’ entry into the equity side of the single family detached housing market using the asset illiquidity framework in Shleifer and Vishny (1992). We find that institutional investors purchased owner-occupied houses after the real estate crisis for approximately 6.3 to 11.8 percent less than owner-occupiers. The large...
This paper reviews recent literature on how households make decisions regarding residential mortgages. We focus on recent publications in Real Estate Economics that are related to households' mortgage choices. The paper covers four areas: (1) the role of intermediaries such as mortgage brokers; (2) how households choose between a fixed and an adjus...
Purpose
Against the background of initiatives, which have taken place to foster real estate research in Europe, this article seeks to analyse important dimensions of that research.
Design/methodology/approach
The article investigates the evolution from 2000 to 2015 in the proportion of papers published by authors with a European affiliation in t...
The Federal Reserve Bank of Atlanta's Center for Real Estate Analytics and the University of North Carolina at Charlotte's Center for Real Estate jointly sponsored a research conference held in Charlotte on December 5–6, 2013. The conference theme was “Government Involvement in Residential Mortgage Markets” and included papers and discussions from...
The development of the real estate industry in Heilongjiang province was very fast in the last few decades, however, the development level in different regions was unbalanced, which needed policymakers’ special attention when making industrial policies for the whole province. But firstly and most importantly, we need to make sure the exact developm...
The intellectual contributions of real estate to the larger body of knowledge makes real estate interdisciplinary, often creating difficulty related to where real estate publications stand compared to the traditional disciplines of economics, finance, marketing, urban studies, public administration, and sociology. The purpose of the Real Estate Aca...
The intellectual contributions of real estate to the larger body of knowledge makes real estate interdisciplinary, often creating difficulty related to where real estate publications stand compared to the traditional disciplines of economics, finance, marketing, urban studies, public administration, and sociology. The purpose of the Real Estate Aca...
The GFC has demonstrated graphically that consequences of housing market volatility for the wider economy are profound. There has, therefore, been a considerable increase in interest in housing and its interconnections with the macroeconomy. Adams and Fuss (2010), for example, study the long-term macro determinants relationships of 15 Organisation...
In this paper, we study contributions to real estate research by individuals and institutions from 2000 to 2012. Specifically, we rank individuals by the total number of papers published in five well-known journals: Real Estate Economics, Journal of Real Estate Research, Journal of Real Estate Finance and Economics, Journal of Real Estate Portfolio...
This thesis presents two studies on real estate economics and finance which are separate but interrelated. The first chapter investigates the transmission of monetary policy to real estate-related industries in Turkey by estimating the effect of policy decisions on the stock prices of real estate-related industries. The study addresses endogeneity...
With the development and evolution of real estate literature a number of studies, primarily qualitative, have attempted to build structure into the body of published research. This research uses Latent Semantic Analysis to evaluate the content of abstracts published in Real Estate Economics, the Journal of Real Estate Finance and Economics, and the...
John Mulville is senior vice president for the Consulting Group at Real Estate Economics, a leading provider of real estate consulting services and online research tools. Working with home builders, lenders, investors, developers, and others in the residential development industry, the team at Real Estate Economics has created some of the most comp...
How do Real Estate faculty members compile reading lists for doctoral seminars? While there is no particular method that is commonly used, the variety of topics and large number of articles published suggest that establishing such a procedure may be long overdue. This paper uses Latent Semantic Analysis to examine 2,526 articles published in the co...
This research compares Real Estate Economics, the Journal of Real Estate Finance and Economics, and the Journal of Real Estate Research in terms of their intellectual contribution to the real estate discipline. The 25 topics of real estate research identified by Winson-Geideman and Evangelopoulos (2013) are used as a basis for a comparison of topic...
In the current stand of literature on the rental adjustment process starting with Hendershott et al. (Real Estate Economics, 30, 165-183, 2002a, Journal of Real Estate Finance and Economics, 24, 59-87, 2002b) it has become practice to treat the compound variable “occupied stock” as a supply variable. In this study we show that
this variable deserve...
This research focuses on ascertaining the perception of real estate journal quality from an international perspective. Through an electronic survey, over 300 researchers around the world rated 18 journals published in the United States, United Kingdom, Australia, and Asia. Overall, the top three journals are Real Estate Economics, Journal of Urban...
This article summarizes the 45-year history of the American Real Estate and Urban Economics Association (AREUEA). It describes how AREUEA was created in the mid-1960s by a few academics interested in promoting real estate research. It tracks the Association's growth into a highly respected international association of real estate academics and rese...
Non-alphabetic ordering of author names in co-authored articles may signal that the contribution of effort is not equal for all authors in a given research paper. This study analyzes influences on author name ordering in articles published in three real estate research publications: Real Estate Economics, Journal of Real Estate Finance and Economic...
Buttimer, Hyland, and Sanders (" REITs, IPO Waves, and Long-Run Performance, " Real Estate Economics, 33(1), 51 (2005)) find that general real estate investment trusts (REIT) initial public offering (IPO) waves are best explained by the capital demands hypothesis. We examine the capital demand hypothesis, the information asymmetry hypothesis, and t...
Before launching a new real estate program, the University of Baltimore's Merrick School of Business asked a panel of professionals in the real estate business to assist in developing a curriculum for a B.S. in Real Estate & Economic Development program. They were asked what body of knowledge was important for their own future real estate employees...
Many universities use tiered target publication lists to evaluate research for promotion and tenure. A survey finds U.S. real estate academics agree which criteria to use to classify journals into tiers. They also agree that a top tier should consist of four journals. While there is general agreement that Real Estate Economics and the Journal of Re...
A significant amount of real estate research has been directed towards developing empirical models explaining rental growth. This paper develops an error correction mechanism (ECM) model which is built on the general theoretical formulation of the Hendershott et a.l (2002a9.
Hendershott , P. , MacGregor , B. and Tse , Y. C. 2002a . Estimation of re...
A threshold citation approach is used to measure the research influence of academic real estate journals, institutions and individual researchers. Real Estate Economics followed by The Journal of Real Estate Finance and Economics and Journal of Real Estate Research are the most influential real estate journals. Almost 63% of heavily cited works in...
In recent years real estate industry in China has been developing very fast. The present problem is how to get a stable system for this industry, so that it can be developed in a healthy way. Real estate economic system itself is a very complex system, so the interacting relationship between key factors in this system must be studied in order to gr...
Academic research findings on the determinants of executive compensation are mixed. Some researchers attribute this to the inclusion of stock-based compensation in the more recent studies. We study the determinants of stock-based compensation schemes in the REIT industry for the period 1997-2000. While previous research analyzes REIT CEOs' cash-bas...
This paper analyzes housing price dynamics in and outside of Telecom Corridor, a region near Dallas, Texas, with a high concentration of new economy firms. Using separate home price indexes in and outside this region, the paper tests whether home values are more volatile in the new economy area and compares mean-variance efficient portfolio weights...
The idea that location is important in real estate economics is not new. However, the spatial dimension of real estate data is not always taken into account in traditional real estate models. Spatial econometrics is a tool that could remedy this problem. The objective of this paper is to review spatial models and apply them to typical hedonic real...
As current editors of "Real Estate Economics" ("REE") we feel it is our responsibility to offer our readers some comments regarding the preceding article by Gibler and Ziobrowski. Our comments are intended to convey our policy regarding publication of articles of this nature, as well as some relevant facts about the current publication process perf...
Journal editors who want to attract the best research must understand authors' perceptions of their journals. In this survey, U.S. academic authors rank "Real Estate Economics" ("REE") higher than "The Journal of Real Estate Finance and Economics" ("JREFE") and rank "The Journal of Real Estate Research" ("JRER") third. Authors perceive "REE" as hig...
This article discusses the application of the Internet in real estate principles and the web's use to enhance the learning of real estate valuation and markets. An example of the use of the Internet in class is given, along with a discussion of the real estate resources on the web that are available to instructors.
