Download or read book German REITs written by Felix Leuschner and published by GRIN Verlag. This book was released on 2005-12-11 with total page 59 pages. Available in PDF, EPUB and Kindle. Book excerpt: Diploma Thesis from the year 2005 in the subject Business economics - Investment and Finance, grade: 1,3, Otto Beisheim School of Management Vallendar (WHU - Dresdner Bank Chair of Finance), language: English, abstract: A Real Estate Investment Trust (REIT) is a property stock that is taxed, not at the corporate but at the investor level, which can lead to tax advantages. The concept of REITs originated in the United States in 1960, allowing smaller investors access to large income-producing real estate, which facilitated the creation of a liquid asset class that has become a core part of institutional portfolio management. REITs have proven attractive to investors because: x Their returns have beaten most major equity benchmarks over three decades, with lower volatility x They have predictable cash flows and high dividend yields x They have a low correlation with other asset classes, aiding portfolio diversification As US-REITs proved successful, other countries have introduced similar property investment vehicles. The Netherlands started in 1969, followed by Australia (1985), Canada (1994), Belgium (1995), Japan (2000) Singapore (2002), Hong Kong (2003) and most recently France (2003). In Germany real estate has been the most popular investment theme of the past three years, despite its significant underperformance compared to European peers during the past 10 years, with open-end funds receiving almost all money inflows. The listed sector, however, is insignificant, both in terms of size and liquidity, and is in desperate need of a catalyst. The introduction of a G-REIT structure could potentially be the long-awaited saviour that could transfer the importance of German real estate into the listed sector. Given the significance of real estate in their respective markets, the German and UK governments are currently considering the introduction of REITs. Depending on the progress of the consultative and parliamentary process, REITs are expected to be enacted by legislation during 2006 in both countries. The REIT discussion in Germany has reached a serious stage, with all the mostinvolved parties seemingly agreed about the usefulness of a REIT structure. The purpose of this paper is to highlight the case for REITs in Germany, to analyse the progress of REITs in countries that have installed these structures, to consider the on-going debate in Germany and what these developments may eventually mean for the German real estate market.
Download or read book Taxation of Real Estate Investment Trusts REITs in the United States and of Their German Shareholders written by Katja Schlemmbach and published by . This book was released on 2008 with total page 134 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Investing in German Real Estate written by Florian Hackelberg and published by Haufe-Lexware. This book was released on 2021-02-03 with total page 382 pages. Available in PDF, EPUB and Kindle. Book excerpt: Investing in one of the most promising real estate markets in Europe offers enormous opportunities. And as with every real estate market, in Germany too, the local framework conditions must be understood and their particularities must be adequately taken into account. The authors are renowned senior executives, real estate advisors and academics, who share here their extensive experience and real life insights from countless real estate investments, covering all aspects of a successful investment process in Germany. Includes: markets, the regulatory framework and investment guidelines. Contents: - Essentials for successful real estate investments in Germany - Macro-economic structure and dynamics of the German real estate market - Real estate investment, trends and strategies - Diverse submarkets: residential, offices, retail, hotel and nursing homes - Real estate legal, tax and audit frameworks - German REITS and ESG in real estate investments - Real estate M&A, financing, due diligence and valuations
Download or read book Understanding German Real Estate Markets written by Tobias Just and published by Springer Science & Business Media. This book was released on 2012-01-05 with total page 409 pages. Available in PDF, EPUB and Kindle. Book excerpt: Real estate is the biggest real asset class in an economy, and Germany is the biggest economy in Europe. This implies opportunities as well as specific risks for investors and policy makers. As the German real estate markets have by and large been spared severe disruptions in the course of the economic crisis, many questions arise for investors and academics alike. What are the key institutional characteristics of the German real estate markets that make it different? What are the short and long-term drivers of demand and supply? Which regional and functional market segments are most likely to outperform in the next few years? What are the most important pitfalls for investors in Germany? This book gives answers to these and many more questions. The editors have invited a broad range of extensively knowledgeable practitioners and academics from across the relevant real estate spectrum, i.e. economic, legal, tax, planning and financing issues, to express their views. There is no better English publication that gives such a profound and simultaneously entertaining overview of Germany’s real estate markets.
Download or read book REITs Around the World written by Richard Stooker and published by . This book was released on with total page 137 pages. Available in PDF, EPUB and Kindle. Book excerpt: Claim Your Share of Real Estate Investment Trust (REIT) Profits From Around the World Ever since so many private real estate companies converted themselves into Real Estate Investment Trusts and held IPOs in the mid-1990s, and with the publication of the first edition of Investing in REITs: Real Estate Investment Trusts by Ralph L. Block, U.S. investors have been discovering the high dividend yields possible through investing in commercial real estate through publicly owned companies. REITs do not have to pay taxes on the income they distribute to unit holders -- and the government requires them to distribute at least 90%! This means they pay out a lot more money than ordinary corporations (who have to pay corporate taxes). REITs are cash cows. What's not so well known is that countries all over the world have been following the lead of the United States and creating their own versions of Real Estate Investment Trusts. Nearly 40 countries from Australia to Turkey have laws enabling some form of REITs, using the US as a model but ringing their own changes. By investing in foreign REITs you can: 1. Have a stream of income that's not dependent on the US dollar (or euro, or yen, or whatever your currency of residence is). By investing in foreign REITs, you get income in a large variety of other currencies, which may be going up in value as the US dollar falls. The two largest, oldest and most mature REIT countries in the world behind the US are Canada and Australia. Which two countries in the world have recently seen the value of their currencies go up dramatically? Canada and Australia. But Canadians and Australians needs apartments, office buildings and shopping malls just like everyone else. By buying shares of their REITs, you can get yourself some Canadian and Australian dollars. Two other kinds of dollars are going up in value -- both from busy and booming Asian port cities -- Hong Kong and Singapore. And both Hong Kong and Singapore have some great Real Estate Investment Trusts. 2. Have a stream of income from economic activity that may be up while your local area is down. Most people's jobs are dependent upon their local economy. However, when business is slow in your area, it may be great in Paris, Dubai or Kuala Lumpur. We also know that while the entire U.S. real estate market can be slow, real estate in other countries may still be booming. 3. Worldwide inflation protection Well run REITs will do all they can to increase their net incomes, including raise rents to keep up with inflation -- wherever they are located. Ever wanted to benefit from Japanese people paying rent for their apartments? Or from businesses paying for offices in prestigious districts of Paris? Or from tourists buying clothes in the trendy shops of Soho London? Or from jet setters tanning themselves at Mediterranean luxury resorts? Or from Australian wine vinyards? Or even from Bulgarian farmers renting land to grow wheat on? Or from drinkers having a pint in AB InBev's chain of European pubs? From the warehouses and shipping docks of China? Now you can! In the last chapter you learn the investments that you can tell your broker to buy for you to profit from REITs around the world. It's simple, easy and -- in this globalized world of international financial crises, a smart move to protect you and your family's wealth.
Download or read book Real Estate Investment Trusts in Europe written by Ramón Sotelo and published by Springer Science & Business Media. This book was released on 2013-12-11 with total page 242 pages. Available in PDF, EPUB and Kindle. Book excerpt: Shortly before of the beginning of the global financial crisis of 2008 REITs were introduced in several European countries based on their success in mature markets like the US, Australia and some Asian countries. While the history of REITs in Europe has been relatively brief, REITs are well on the way to become an industry standard as a real estate investment financial vehicle not only in Europe but throughout the developed world. This book provides both academics and decision makers an introduction to the economics of REITs beyond tax transparency, an overview of the mature REITs markets, and a closer reflection of the development of different REIT-structures in Europe including the history, regulation and markets of each country.
Download or read book Germany Real Estate Yearbook 2008 written by and published by Real Estate Publishers BV. This book was released on 2008 with total page 324 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Understanding German Real Estate Markets written by Tobias Just and published by Springer. This book was released on 2016-10-06 with total page 490 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this book, experts discuss how German real estate values have remained stable throughout the financial crisis, even though transaction volumes have been very volatile since 2005. Consequently, risk-averse national and international investors have started to invest in virtually all German real estate asset classes. This book tries to answer what has made the German real estate markets more resilient to shocks than many European real estate markets by analyzing the economic, regulatory and demographic environment. In 30 well-structured chapters, experts from both the academic and professional world analyze structural and current issues of German real estate markets. Readers will get a deep understanding of what makes the German real estate market special and where potential opportunities and threats in Europe’s largest real estate market exist.
Download or read book Foundations of Global Financial Markets and Institutions fifth edition written by Frank J. Fabozzi and published by MIT Press. This book was released on 2019-04-30 with total page 1105 pages. Available in PDF, EPUB and Kindle. Book excerpt: A thoroughly revised and updated edition of a textbook for graduate students in finance, with new coverage of global financial institutions. This thoroughly revised and updated edition of a widely used textbook for graduate students in finance now provides expanded coverage of global financial institutions, with detailed comparisons of U.S. systems with non-U.S. systems. A focus on the actual practices of financial institutions prepares students for real-world problems. After an introduction to financial markets and market participants, including asset management firms, credit rating agencies, and investment banking firms, the book covers risks and asset pricing, with a new overview of risk; the structure of interest rates and interest rate and credit risks; the fundamentals of primary and secondary markets; government debt markets, with new material on non-U.S. sovereign debt markets; corporate funding markets, with new coverage of small and medium enterprises and entrepreneurial ventures; residential and commercial real estate markets; collective investment vehicles, in a chapter new to this edition; and financial derivatives, including financial futures and options, interest rate derivatives, foreign exchange derivatives, and credit risk transfer vehicles such as credit default swaps. Each chapter begins with learning objectives and ends with bullet point takeaways and questions.
Download or read book Guide to Global Real Estate Investment Trusts written by Stefano Simontacchi and published by Kluwer Law International B.V.. This book was released on 2022-09-19 with total page 693 pages. Available in PDF, EPUB and Kindle. Book excerpt: The global listed property sector has been characterized by a variety of noteworthy developments in recent times, the proliferation of real estate investment trust-type structures in countries around the world key among them. Despite an uncertain economic environment, REITs have proven their ability to promote institutional real estate investments in global financial markets. This highly practical book features a comprehensive analysis of both the legal and tax underpinnings of REIT-friendly legislation in a variety of the world’s most significant jurisdictions. With regard to the legal framework, the structure and functioning of a REIT are carefully investigated and explained. In terms of tax issues, the book focuses on such key issues as: REIT formation, operation and liquidation; mergers, acquisitions and dispositions; and planning for public and private REIT offerings and re-securitizations. REITs are inherently complex, and their interplay with tax treaties further compounds the complexity. This highly accessible yet authoritative work is the perfect decision-making tool for any professional looking for perspective and guidance on the challenges and opportunities REITs engender.
Download or read book Real Estate Investments in Germany written by Michael Mütze and published by Springer Science & Business Media. This book was released on 2008-09-10 with total page 376 pages. Available in PDF, EPUB and Kindle. Book excerpt: The German real estate market is in motion. Single real estates as well as parts of real estate portfolios are still projected and brought to the market to a great extent. In addition, the ownerships of big real estate portfolios are changing. In the light of this situation, this book guides foreign investors and project developers through the legal, tax and economical requirements for real estate investments in Germany in a practical manner.
Download or read book Germany Real Estate Yearbook 2009 written by and published by Real Estate Publishers BV. This book was released on with total page 340 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Rent Adjustment and Tenant Default in English and German Commercial Property Leases written by Jan Matauschek and published by Peter Lang. This book was released on 2010 with total page 240 pages. Available in PDF, EPUB and Kindle. Book excerpt: In recent years, real estate investment has witnessed an unprecedented internationalisation. However, national markets largely continue to be shaped by domestic law and local business practices. This book provides a comparison of the British and German property markets, which are Europe's most important, and discusses key elements of the economics of leasing. Applying the theory of long-term contracts and the economic analysis of bankruptcy law to leases, it examines in detail the regulations pertaining to rent adjustment and tenant default, which can substantially impact investment performance. The prevailing rent adjustment mechanisms such as rent review and indexation are discussed. A comparison is made of the remedies available to landlords of defaulting tenants under both jurisdictions.
Download or read book The Routledge REITs Research Handbook written by David Parker and published by Routledge. This book was released on 2018-10-10 with total page 306 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Routledge REITs Research Handbook presents a cutting-edge examination of the research into this key global investment vehicle. Edited by internationally respected academic and REIT expert Professor David Parker, the book will set the research agenda for years to come. The handbook is divided into two parts, the first of which provides the global context and a thematic review covering: asset allocation, performance, trading, sustainability, Islamic REITs, emerging sectors and behavioural finance. Part II presents a regional review of the issues with high level case studies from a diverse range of countries including the US, UK, Brazil, India, Australia, China, Singapore, Israel and Russia, to name just a few. This handbook redefines existing areas within the context of international REITs research, highlights emerging areas and future trends and provides postgraduates, professionals and researchers with ideas and encouragement for future research. It is essential reading for all those interested in real estate, international investment, global finance and asset management.
Download or read book Germany Real Estate Yearbook 2010 written by and published by Real Estate Publishers BV. This book was released on with total page 212 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Germany Real Estate Yearbook 2011 written by and published by Real Estate Publishers BV. This book was released on with total page 229 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Global Property Investment written by Andrew E. Baum and published by John Wiley & Sons. This book was released on 2011-11-02 with total page 577 pages. Available in PDF, EPUB and Kindle. Book excerpt: Developments in the sophistication of global real estate markets mean that global real estate investment is now being executed professionally. Thanks to academic enquiry, professional analysis and entrepreneurial activity, backed by the globalisation of all investment activity, there is now an available body of material which forms the basis of this scholarly but practical summary of the new state of this art. The measurement, benchmarking, forecasting and quantitative management techniques applied to property investments are now compatible with those used in other asset classes, and advances in property research have at last put the ongoing debate about the role of real estate onto a footing of solid evidence. The truly global scope and authorship of this book is unique, and both authors here are singularly well qualified to summarise the impact and likely future of global innovations in property research and fund management. Between them, they have experienced three real estate crashes, and have observed at first hand the creation of the real estate debt and equity instruments that led to the global crisis of 2008-9. Global Property Investment: strategies, structure, decisions offers a unique perspective of the international real estate investment industry with: a close focus on solutions to real life investment problems no excessive theoretical padding a target of both students and professionals highly qualified dual-nationality authorship With many cases, problems and solutions presented throughout the book, and a companion website used for deeper analysis and slides presentations (see below), this is a key text for higher-level real estate students on BSc, MSc, MPhil and MBA courses worldwide as well as for practising property professionals worldwide in fund management, investment and asset management, banking and real estate advisory firms.
