Spelling suggestions: "subject:"real 0state investments"" "subject:"real 0state nvestments""
31 |
Strategy and Uncertainty in the Real Estate Market. : How Businesses Use Strategies to Prepare for Uncertainties within the Real Estate Market.Bihari, Gergö, Hellesen-Hansen, Christian January 2024 (has links)
The purpose of this study was to study how the global events of the last decade have changed and impacted organizations strategies such as, financial structure and placement strategies to prepare for uncertainties within the real estate market. The study was based on the theory of Corporate Strategy, Financial Structure, and Private Placement Strategies. An epistemology methodology was followed. The findings show that businesses want to own the property where they conduct their business since it seems like a less unstable option compared to leasing properties or facilities. Furthermore, banks see investments into real estate as a secure investment therefore the need for changes in capital structures are not necessary. Even if valuation of properties goes up and down according with different economical events, businesses that operate in the real estate market still see their real estate investments as valuable and not as volatile as the market predicts. To conclude, businesses and organizations are today more prepared for future uncertainties and unexpected financial events than prior to 2008. Organizations can use these findings to map, strategize, and prepare for future uncertainties within the real estate market by controlling risks.
|
32 |
L'eficiència del mercat immobiliari: estratègies i instrumentsPanosa Gubau, Anna M. 18 December 2012 (has links)
Real estate represents a part of the portfolio of many investors and can be accessed from both the real and the financial market. The low efficiency of real market prevents from taking advantage of the value created through diversification. This value can be partially recovered substituting real assets by securitized assets such as REITs. The empirical study of both markets in Spain shows an insufficient supply of securitized assets and the inexistence of an organized market of real estate derivatives, leading to a lower efficiency compared to other countries where they do exist. The relationship between real and financial markets opens a way to study real estate bubbles. It also enables to identify the sources of real estate risks and the strategies for hedging it. A wide development of assets-securitization and derivatives is essential to manage real estate risk and to improve the efficiency of the real estate market. / La inversió immobiliària, que forma part de la cartera de molts inversors presenta una doble via d’accés: el mercat real i el mercat financer. La baixa eficiència del mercat real impedeix aprofitar el valor creat mitjançant la diversificació. Aquest valor es pot recuperar parcialment substituint actius reals per actius titulitzats, com per exemple els REITs. L’estudi empíric dels dos mercats a Espanya revela una oferta insuficient d’actius immobiliaris titulitzats i la inexistència d’un mercat organitzat d’actius derivats immobiliaris, provocant un nivell d’eficiència més baix, comparat amb d’altres països on sí que existeixen. La interrelació entre mercat real i financer obre una via per a l’estudi de la formació de bombolles. També ens permet identificar les fonts de risc immobiliari i proposar estratègies de cobertura. Un desenvolupament ampli dels actius titulitzats i dels instruments derivats és essencial per a la gestió del risc i per millorar l’eficiència del mercat immobiliari.
|
33 |
Exploring the Prerequisites to Increase Real Estate Market Transparency in Sweden / En utforskning av förutsättningarna för att öka transparensen på Sveriges fastighetsmarknadDanmo, Emil, Kihlström, Fredrik January 2019 (has links)
In the 2018 edition of the JLL Global Real Estate Transparency Index (GRETI), Sweden was ranked the 10th most transparent real estate market in the world, categorized as ‘Highly Transparent’. For the most part, Sweden has held a similar position since the measurements started in 1999. Transparency on a real estate market generally attracts foreign real estate investments and tenants as well as increasing global competitiveness. It also streamlines work processes in many real estate professions through comprehensive real estate market information and comprehensible legal frameworks, transaction processes and methods of monitoring different sustainability metrics. This study explores the prerequisites for Sweden to attain a better position in the index by increasing its degree of real estate market transparency, with the long-term goal in having Sweden reaping more of the benefits in having a highly transparent real estate market. This is done in two ways. First is through a critical analysis of the index’s methodology for assessing if ranks and scores within the different index categories are produced fairly. Secondly, different industry actors are interviewed to identify in what areas Sweden lags behind compared to more transparent markets, in which way they would like to see transparency improved in Sweden and the main barriers in implementing projects that would increase real estate market transparency and ways of overcoming them. An examination of the index methodology shows a changing methodology from year to year, which indicates a steady increase in real estate market transparency in Sweden. Interview findings support a generally positive view on transparency, facilitating decision making for real estate investments, but the level of preferred transparency differs between net sellers and buyers. It is therefore questionable if increasing real estate market transparency would provide significantly increased utility for some market actors with longer investment horizons and market knowledge through extensive business networks. Main suggestions for improving real estate transparency in Sweden include measures for data standards, increasing the level of data disclosure and information platforms for such standardized, disclosed data. The study suggests that the main barriers for implementing this could be conceptualized as a Prisoners’ dilemma and that institutional bodies could act as trustworthy partners in further opening up real estate market information. / I 2018 års upplaga av rapporten JLL Global Real Estate Transparency Index (GRETI) rankades Sverige som den tionde mest transparenta fastighetsmarknaden i världen, kategoriserat som ‘Mycket Transparent’. Sverige har mestadels hållit en liknande position i rankingen sedan mätningarna startade år 1999. Generellt så medför transparens på ett lands fastighetsmarknad en ökad attraktion för investeringar och hyresgäster såväl som en ökad global konkurrenskraft. Det effektiviserar även arbetsprocesser i många yrken i fastighetsbranschen genom omfattande fastighetsmarknadsinformation och överskådliga legala ramverk, transaktionsprocesser och metoder för att utvärdera olika nyckeltal kopplat till hållbarhet. Denna studie undersöker förutsättningarna för Sverige för att kunna uppnå en bättre position i indexet genom att öka transparensen på landets fastighetsmarknad, med det långsiktiga målet att få Sverige att kunna åtnjuta fördelarna av att ha en mycket transparent fastighetsmarknad. Detta är genomfört på två sätt. Det första är genom en kritisk analys av indexets metodik för att utvärdera om rankingar och poängsättningen inom de olika indexkategorierna har producerats på ett rättvist tillvägagångssätt. Det andra är genom intervjustudier med olika branschaktörer för att identifiera de områden där Sverige släpar efter i förhållande till andra mer transparenta marknader och på vilket sätt de skulle vilja se att transparensen förbättras i Sverige samt de huvudsakliga hindren mot att kunna implementera projekt som skulle kunna öka transparensen på Sveriges fastighetsmarknad och sätt att överkomma dessa hinder. En undersökning av indexmetodiken visar på en ändrad metodik från år till år, som indikerar en stabilt ökande grad av transparens på Sveriges fastighetsmarknad. Intervjuresultaten stödjer en generell positiv syn på transparens som ett sätt att underlätta beslutsfattande för fastighetsinvesteringar, men nivån av föredragen transparens skiljer sig åt mellan nettoköpare och nettosäljare. Det ifrågasätts därför om en ökad transparens på Sveriges fastighetsmarknad skulle bidra med en signifikant ökad nytta för vissa branschaktörer med längre investeringshorisonter samt marknadskännedom genom sina stora branschnätverk. Huvudsakliga förbättringspunkter i termer av att öka transparensen på Sveriges fastighets-marknad inkluderar åtgärder för datastandarder, en ökad nivå av datadelning samt informationsplattformar för sådan standardiserad, delade data. Studien visar på att de huvudsakliga barriärerna för att implementera dessa åtgärder kan konceptualiseras som ett Fångarnas dilemma och att offentliga organ kan agera som pålitliga partners i att vidare öppna upp fastighetsmarknadsinformation.
|
34 |
[en] REAL ESTATE INVESTMENTS BY INSTITUTIONAL INVESTORS: FACTORS THAT MODEL PENSION FUNDS REAL ESTATE MANAGEMENT / [pt] INVESTIMENTOS DE BASE IMOBILIÁRIA POR INVESTIDORES INSTITUCIONAIS: OS FATORES QUE MODELAM A GESTÃO IMOBILIÁRIA DOS FUNDOS DE PENSÃOFRANCISCO EDUARDO MOREIRA DE AZEREDO 05 January 2005 (has links)
[pt] O modelo de monitoração, registro e valoração de
investimentos, adotado por investidores institucionais em
países desenvolvidos e em especial o americano, juntamente
com todos os seus agregados financeiros - índices de bolsas,
indicadores de performance, precificação de ativos,
ratings, standards, etc...- é sem dúvida um forte elemento
direcionador e influenciador dos modelos adotados no Brasil
para administração de carteiras de investimento. Surgiu no
próprio mercado americano, após o término da recessão do
inicio dos anos 90, uma profunda remodelagem dos
instrumentos, veículos, indicadores de performance e
standards dos investimentos de base imobiliária, que até
então seguiam seus próprios e diversificados padrões,
desvinculados dos modelos propalados e adotados pelo
mercado financeiro. O conhecimento dos modelos de gestão
adotados por investidores institucionais brasileiros, em
especial os fundos de pensão é básico para se desenhe uma
nova estratégia futura de alocação e respectiva gestão de
recursos em carteiras de base imobiliária de investidores
institucionais. O foco do presente trabalho é dar início a
este processo de conhecimento pela identificação e
interpretação dos principais fatores que modelam a gestão
imobiliária dos fundos de pensão brasileiros, propondo a
partir daí algumas reflexões iniciais sobre estes fatores e
por conseguinte sobre estes modelos, visando padronizações,
aperfeiçoamentos e um maior alinhamento com práticas já
consagradas em mercados mais desenvolvidos e eficientes. / [en] It is common knowledge that the models of monitoring,
registering and valuating investments, accepted by
institutional investors in many developed countries,
especially the US - together with financial ratios adopted
in the stock market, in assets price evaluation and
performance, in risk ratings, in account standards - have
great influence in the models implemented by investment
portfolio managers in Brazil. After the recession in the
beginning of 1990 s, took place in the US Real Estate
market a major restructure of Real Estate instruments,
vehicles, performance indices, and standards. The Real
Estate community agreed that their market could no longer
have dissimilar and diverse methods for measuring and
evaluating Real Estate assets if compared with those used
currently by the financial market. Knowing and
understanding the relationship between models adopted by
brazilian institutional investors and the positioning of
pension funds when allocating resources to real state, is
fundamental to trace any new future allocation and
management strategy for real state investments by
institutional investors. The main purpose of this paper is
to begin this process of knowledge by identifying and
interpreting the main factors that model the real estate
portfolio management adopted by Brazilian pension funds,
followed by some reflexion over those factors and
conseqüently over those models, mainly focused on
standardization and refinement of such current models, and
also on aligning current practices to those already
approved and implemented by more developed and efficient
markets.
|
Page generated in 0.2076 seconds