Real Estate Investment: Theory and Practice

This textbook provides an overview of real estate investment and pricing in a global context, with a special attention to the diversification of asset types. It covers the microeconomics of real estate markets, the characteristics of real estate as an investment, real estate investors and their objectives, and emerging real estate debates. It is designed as a successor to Will Frasers successful student-led investment book, Principles of Property Investment and Pricing.

Format: Paperback / softback
Length: 317 pages
Publication date: 12 July 2022
Publisher: Springer International Publishing AG

This comprehensive textbook serves as a valuable resource for undergraduate and postgraduate real estate programs, offering a comprehensive overview of real estate investment and pricing in a global context. With a particular focus on the diversification of asset types across three parts, it serves as a successor to Will Fraser's successful student-led investment book, Principles of Property Investment and Pricing. The textbook delves into the intricate microeconomics of real estate markets, providing insights into the complex nature of real estate and its implications for economic analysis and market operations. It explores the fundamental processes and principles of real estate investment decision-making, including a pricing model, and emphasizes the significance of real estate cycles and their occurrence.

Part 1 of the textbook delves into the microeconomics of the real estate sector, covering a wide range of topics. It examines the complex nature of real estate and its impact on economic analysis and market operations. It explores the underlying essential processes and principles of real estate investment decision-making, including a pricing model, and highlights the importance of real estate cycles and their recurrence. The textbook also discusses the significance of real estate as an investment asset, distinguishing between direct and indirect investment and comparing it to alternative stock market assets. It examines real estate investors and their objectives, including financial institutions, REITs, and other indirect vehicles, and sets out the frameworks within which real estate investment decisions are made in relation to other investments.

Part 2 of the textbook focuses on the characteristics of real estate as an investment, exploring its unique features and differences from other asset classes. It begins by examining the nature of real estate as an asset and differentiating it from direct and indirect investment. It then compares real estate to alternative stock market assets, discussing their similarities and differences. The textbook further explores real estate investors and their objectives, including financial institutions, REITs, and other indirect vehicles. It sets out the frameworks within which real estate investment decisions are made in relation to other investments and emphasizes the practicalities of performance measurement.

Part 3 of the textbook delves into emerging real estate debates and discussions. These chapters are primarily forward-looking, addressing the implications and challenges for real estate investment in the current landscape. They explore the consequences of recent regulatory aspects, changes in occupier demand, driven by technology and sustainability pressures. The textbook also discusses the logic.

Weight: 516g
Dimension: 235 x 155 (mm)
ISBN-13: 9783031009679
Edition number: 1st ed. 2022