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This thesis is based on the analysis of all rural property sales transactions that occurred in NSW over the period 1990-2000 and is the first complete state wide analysis of a rural property market in Australia. Previous studies on rural land performance have been restricted in both limited time periods and limited location areas. The importance of rural property, as an investment asset has been recognised in the US and UK with both countries having a rural property performance index. These indices are similar in construction, quality and reliability as the commercial property, residential property and share market indices that are also available in these countries to analyse the performance of these investment assets. Until the development of the rural property capital and total return indices in this thesis, there has never been a comprehensive and complete set of rural property investment indices available to assess the risk/return performance and investment portfolio benefits of rural property in Australia. The actual construction of the indices in this thesis have been based on the current indices produced by the Property Council of Australia for office, retail, industrial and hotel property in Australia. Based on the work in this thesis, rural property investment performance can now be compared to all major investment assets available in Australia. This research will be ongoing to ensure that the performance of rural property will be available on a semi-annual basis for use by all institutions, companies and individuals with an interest in the investment potential of rural property in Australia / Doctor of Philosophy (PhD)

隨著房地產景氣的熱絡，近幾年來保險公司投資不動產常被誤認為炒作房價的推手，本研究將預期藉由多元化投資不動產商品以降低投資風險。 對各種給付的保證來滿足被保險人的需求，保險公司必須額外承擔保證給付的風險。是以保險公司必須重新審視其整體於不動產投資的風險管理，對該保證給付風險思考適當的因應對策，在考慮公司整體風險容忍度及其風險偏好下，選擇直接參與不動產投資或投資不動產證券金融商品進行風險的移轉，其中藉由進行不同類型不動產投資並進行風險移轉為本研究所關注的主題。 本研究首先蒐集國內不動產交易的相關法令規範，資料內容有較為詳細明確的細節規範或建議、及落實的監理法規要求。並以直接或間接投資國內不動產或相關的金融商品。並藉由與保險公司的實際運作，了解其不動產資產面避險的實務需求、避險策略的擬定及執行、及公司內部因應的風險管理架構或流程。在參考國內作法及保險公司實際需求之後，即進行研析現行保險業從事不動產商品交易管理辦法，思考如何在現行監理架構提出改善建議。 本研究的立意本為了解保險公司實務上從事不動產投資，但仍在相對要求保險公司內部良好的風險管理及有效審慎的監理原則基礎下，進行各種相關議題的充分討論，最後並依結論擬定現行管理辦法的建議。 前述建議修正即為本研究短期建議之內容，其中包括可以當作被避險項目的不動產的明確定義、可以操作的不動產商品的種類、申請程序及申請文件、及避險額度限制等具體規範。

This work considers question of buying a residential property for renting it in comparison to a fictitious financial instrument by a retail investors. The financial instrument is the only alternative investment possibility to a retail investor.

The purpose of this dissertation is to determine whether size and book value to market value (BV/MV) effects dominate the property effects in the return generating process for Listed Property Trusts (LPTs) in Australia.The study endeavours to answer a critical question regarding listed property investment vehicles. That is, are they stocks or property? The approach, however, differs from previous studies in that it avoids utilising direct property data because of the inherent valuation-smoothing problems.Instead, it develops unique specialised indices for LPTs by size and BV/MV ratios. The analyses are conducted in four different ways. Amongst other findings, it is suggested that the two well known stock market effects, namely size and BV/MV effects, are significant in LPT returns. As such, by way of inference, it is suggested that property effects in LPT returns are subsumed under the effects of these two factors. The findings support the hybrid-asset hypothesis for LPTs; that is, LPTs are an asset class of its own, sharing to an extent, the characteristics of both shares and property direct. / Doctor of Philosophy (PhD)

Thesis (PhD) -- University of Western Sydney, 2003. / Bibliography: leaves 356 - 370.

When considering the valuation techniques of income-producing property, various types of information should be obtained from the market in order to apply them to the valuation of the property under consideration. This includes the comparison with other properties sold in the market. However, due to the illiquid nature of property, especially those typically owned by institutional investors, such transactions do not take place every day. Therefore the necessary information is not always readily available, and also not of the required quality. In order to try and eliminate this problem, the study considers the possibility of using alternative information to indicate market activities. Various studies have considered the similarities of direct real estate and indirect real estate. Most of these studies compare the investment returns of the two markets. This study extends the research by specifically looking at the unique property loan stock structure of South Africa, and comparing the value of shares to the value of assets. It therefore offers a more comprehensive explanation of the factors over and above the return received on the investment. It furthermore considers the composition of the property portfolio and the possibility to measure individual property values within such a portfolio. The outcome of the study is a model that allows property valuation and market interpretation from fundamental principles, with supporting evidence from the listed-property investment market. / Thesis (PhD)--University of Pretoria, 2013. / gm2013 / Construction Economics / unrestricted

Thesis deals with the possibilities of investment in property designated for rent in the Czech Republic. Property is selected according to established criteria, taking into account the expected return, risk and liquidity. In thesis is also an emphasis on the analysis of real estate market.

Le propos de cette thèse est d’analyser les transformations urbaines de Rome (rénovation dans le centre-ville, urbanisation des périphéries) entre 1922 et 1945 à travers les investissements d’un des plus puissants acteurs du secteur immobilier, l’Istituto Nazionale delle Assicurazioni (INA). L’INA était une entreprise parapublique d’assurance fondée en 1912. Il ne s’agit nullement de dresser un simple portrait de l’activité immobilière d’une des plus grandes entreprises italiennes, mais bien de comprendre l’action de ce type d’opérateur dans la production de bâti et la fabrique de la ville au sein d’un réseau complexe d’acteurs. Cela nécessite une bonne connaissance du contexte politique, économique et social du ventennio fasciste, des évolutions du tissu urbain de la commune de Rome et surtout du réseau d’acteurs économiques et institutionnels qui agissent sur la ville. A partir de l’inventaire des propriétés immobilières de l’INA à Rome, deux rôles de l’INA dans la fabrique de la ville ont été mis en lumière, celui de constructeur d’immeubles de logements et de bureaux et celui de financeur des grandes opérations urbaines du régime. / This thesis examines the urban transformations of Rome between 1922 and 1945 (urban renewal in the city centre and urban sprawl beyond the antique walls) through the investments of one of the Fascist period's most significant property agents, the Istituto Nazionale delle Assicurazioni (INA). The INA was a semi-public company, founded in 1912. The aim of this work is not only to delineate the real estate activity of one of Italy's biggest corporations but to understand the systems and complex network of agents employed by such an operator within the urban fabric. This requires a sophisticated local knowledge of the political, economic and social context of the Fascist period, of the developments of the Roman urban fabric and, most of all, of the complex network of economic and institutional agents acting on the city. From the inventory of INA properties in Rome, a dual function has been established for the company: that of constructing houses and offices, and that of funding the regime's large-scale urban projects.

The content of diploma thesis is an evaluation of the efficiency of the investment in rented property. To verify the sale price, the value of the property is determined by the basic valuation methods. Based on the market analysis, an optimal rental rate is determined, which allows us to quantify the income from the property. Properly quantified revenues and expenses are the foundations for evaluating the effectiveness of the investment.