Download or read book Real Estate Finance in the New Economy written by Piyush Tiwari and published by John Wiley & Sons. This book was released on 2014-01-29 with total page 288 pages. Available in PDF, EPUB and Kindle. Book excerpt: The financial deregulation of the last quarter century has meantlarge flows of funds around the world seeking the highestrisk-adjusted return for investors. Real estate is now establishedas an important asset class and advances in information technologyprovide the necessary tools to complement global developments inreal estate finance and investment. A variety of investment vehicles have emerged, andReal EstateFinance in the New Economy examines these along withfinancing and risk in the context of globalization, deregulationand an increasingly integrated international world economy byexploring questions like: How have real estate financial structures evolved as economiesgrow and become internationalised? What role do economic change and financial systems play in thedevelopment of real estate investment? Are the risks associated with the ‘new economy’really new? What is the future direction for real estate financing? The authors develop an economic framework for discussions onindividual financial products to examine how real estate financialstructures change with economic growth and internationalisation andalso to show how developments in real estate finance impacteconomic growth.

Download or read book International Real Estate Economics written by Piyush Tiwari and published by Bloomsbury Publishing. This book was released on 2017-09-16 with total page 224 pages. Available in PDF, EPUB and Kindle. Book excerpt: As the real estate market becomes increasingly international, it is essential to understand how specific national markets operate and relate to one another. The authors identify the similarities and differences observed across European, Asian and American markets, providing a framework to explain how these diverse national markets converge.

Download or read book Singapore s Real Estate written by Ngee Huat Seek and published by World Scientific. This book was released on 2016 with total page 300 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Singapore's Real Estate: 50 Years of Transformation documents the transformation and development of the real estate market in Singapore over the past 50 years. This volume is organised around two major themes, and covers issues from the "bricks and mortar" to the capital markets; and from local to international real estate markets. The themes aptly describe how real estate has played an important role in the economic development and growth of Singapore from a third world to a first world country. Written by well-renowned experts with deep academic and practical knowledge of the progress of real estate in Singapore, this book highlights the uniqueness of real estate markets and institutions in Singapore, which have constantly been replicated and adopted in other markets."--Provided by publisher

Download or read book An Asian Direct and Indirect Real Estate Investment Analysis written by Kim Hin David HO and published by Partridge Publishing Singapore. This book was released on 2021-05-04 with total page 858 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is dedicated to real estate scholastic work, in advancing the greater understanding of real estate investment analysis. This is because there has been limited research in bringing out clearly the uncertainty or risk, which is quantifiable uncertainty in real estate market analysis. Even real estate market research, which is carried out as an industry practice among private real estate researches, is no exception. Another reason is that it has been widely accepted that while the financial revolution has substantially changed many sectors of the financial industry, it has made little impact on real estate development and investment practice as Ill as scholastic work. Furthermore, while it is readily acknowledged that despite its huge share in the world Ialth, real estate investment discipline and research is on the whole still a poorly researched subject area. As a result, the industry tends to be dominated by traditional real estate analysts with little understanding of real estate market uncertainty and capital markets. These commentators are widely regarded to spend too much time worrying about local space supply and demand conditions, while totally losing sight of the everchanging real estate market and capital market conditions. The theme of this book is real estate investment analysis of direct and indirect real, which in turn can be appropriately managed under economic theory and the theoretical conceptions of real estate finance, provided the uncertainty is quantifiable. The book deploys case studies involving Singapore and Asia. This Black over White background viii framework enables real estate market analysis to attempt what defines the Asian direct and indirect real estate sectors; what is being measured; how it behaves (in terms of price and non-price factors); how it is structured and how it effectively achieves the objectives of sustainable total returns and manageable real estate market uncertainty. Managing real estate market uncertainty optimally is achieved at the portfolio level through real estate asset allocation. This is important because the real estate portfolio is able to virtually eliminate the unique (i.e. specific) uncertainties among the various Asian real estate sectors; thus retaining within the portfolio only the systemic (i.e. market-wide) uncertainty. Apart from real estate asset allocation, the alternative and modern approach to risk management at the portfolio level, is the value-at-risk (VaR) approach. Another modern and important alternative to coping with uncertainty is real option analysis and pricing that help to better define real estate market uncertainty in extent and time. Real option analysis and pricing also represent uncertainty via a decision tree and the risk-neutral probability conception, in order to comprehend how uncertainty impacts on the value of real estate investment decisions. The pricing of uncertainty is based on the risk-free hedge security conception. These are best examined at the micro level of the investment in a real estate development opportunity on vacant land. Nevertheless, the real estate sectors in Singapore and Asia offer promising prospects since the Asian currency crisis of 1997. It is now timely to take stock and make an assessment of how the sectors would pan out for the future, Ill into at least rest the next century. I are very pleased to present our thinking and research in international real estate with particular emphasis on Asia. The region’s vast potential for real estate is itself a large incentive for international real estate research and education that has inspired me to document the significant work I have done over the years. Black over White background ix I wish all readers a pleasurable reading of this book, and I thank you sincerely for your support without which the publication of this book would be made all the more difficult. Dr HO, Kim Hin / David Honorary Professor (University of Hertfordshire, UK) (International Real Estate & Public Policy) March 2021.

Download or read book Global Trends in Real Estate Finance written by Graeme Newell and published by John Wiley & Sons. This book was released on 2009-10-08 with total page 312 pages. Available in PDF, EPUB and Kindle. Book excerpt: To operate effectively in today’s dynamic global real estatemarkets, it is essential to understand the complex processes thatunderpin them. This up-to-date work, which brings togethercontributions from industry and academic experts from around theworld, is a valuable corollary to effective investmentdecision-making within the property sector and will be of interestto post-graduate property students, researchers and practising realestate investors. Recent years have seen some rapid developments in the globalscale and structure of real estate markets. Such transformationshave been paralleled by significant changes in the financialstructures, and processes that serve these markets, includingsophisticated new investment and finance structures and products.Examples of these include the real estate investment trusts (REIT)products that have been developed in USA, Europe and Asia, therange of unlisted products emerging in UK and Europe, and theinnovative financing structures being developed in manycountries. Global Trends in Real Estate Finance addresses thisemerging complexity and sophistication in contemporary real estatemarkets by discussing the history, merits and implications of arange of products and processes. Also examined are the changes inthe practices and environment needed to ensure the success of theseproperty products, including increased disclosure, corporategovernance, market transparency and improved skills base. Chapters are written by leading international contributors, bothacademic and practitioner. The context is explicitly international,with a focus on UK, Europe, Asia, Australia and the USA. The aim isto identify specific market areas to describe the key innovations,rather than simply providing a description of various geographicalmarkets.

Download or read book Public Real Estate Markets and Investments written by H. Kent Baker and published by Oxford University Press. This book was released on 2014-08-07 with total page 335 pages. Available in PDF, EPUB and Kindle. Book excerpt: Real estate is typically classified as an alternative to more traditional investments such as stocks and bonds. Real estate investing involves the purchase, ownership, management, rental, or sale of real estate for profit. Real estate investments can be both income producing and non-income producing. Although real estate can produce income like a bond and appreciate like a stock, this tangible asset has several unique characteristics as well as advantages and disadvantages relative to other investment alternatives. Benefits of including real estate in a portfolio include diversification, yield enhancement, risk reduction, tax management, and inflation hedging. Unlike traditional investments, investors in real estate have the ability to influence performance. Real estate has drawbacks in that it requires management, is costly and difficult to buy, sell, and operate, and sometimes has lower liquidity. Additionally, measuring the relative performance of real estate can be challenging. The purpose of this 14-chapter book is to provide an overview and synthesis of public real estate markets and investments in a global context. The book discusses the major types and the latest trends within public real estate markets and presents the results of research studies in a straightforward manner. It has three sections: (1) foundations of public real estate, (2) public debt markets and investments, and (3) public equity markets and investments. The book should be interest to various groups including academics, practitioners, investors, and students. Readers should gain a greater appreciation of what is needed for success when investing in public real estate markets. For more information about private real estate, read Private Real Estate Markets and Investments.

Download or read book Alternative Investments written by CFA Institute and published by John Wiley & Sons. This book was released on 2021-11-04 with total page 675 pages. Available in PDF, EPUB and Kindle. Book excerpt: The complete guide to alternative investments, from experts working with CFA Institute Alternative Investments is the definitive guide to understanding non-traditional asset classes. Alternatives are a disparate group of investments that are distinguished from long-only, publicly traded investments in stocks, bonds, and cash (often referred to as traditional investments). Alternative investments include real estate, commodities, infrastructure, and other non-traditional investments such as private equity or debt and hedge funds. They are attractive to investors because of the potential for portfolio diversification resulting in a higher risk-adjusted return for the portfolio. Alternative Investments and its accompanying workbook (sold separately) lead students and investment professionals through the many characteristics of non-traditional assets, including: Narrow specialization of the investment managers Relatively low correlation of returns with those of traditional investments Less regulation and less transparency than traditional investments Limited historical risk and return data Unique legal and tax considerations Higher fees, often including performance or incentive fees Concentrated portfolios Restrictions on redemptions (i.e. “lockups” and “gates”) CFA Institute is the world's premier association for investment professionals, and the governing body for the CFA® Program, CIPM® Program, CFA Institute ESG Investing Certificate, and Investment Foundations® Program. Those seeking a deeper understanding of the markets, mechanisms, and use of alternatives will value the level of expertise CFA Institute brings to the discussion, providing a clear, comprehensive resource for students and professionals alike. Whether used alone or in conjunction with the companion workbook, Alternative Investments offers a complete course in alternative investments and their role in investment management.

Download or read book Handbook of Asian Finance written by David Lee Kuo Chuen and published by Academic Press. This book was released on 2014-05-15 with total page 531 pages. Available in PDF, EPUB and Kindle. Book excerpt: Participants in Asian financial markets have witnessed the unprecedented growth and sophistication of their investments since the 1997 crisis. Handbook of Asian Finance: REITs, Trading, and Fund Performance analyzes the forces behind these growth rates. Insights into banking, fund performance, and the effects of trading technologies for practitioners to tax evasion, market manipulation, and corporate governance issues are all here, presented by expert scholars. Offering broader and deeper coverage than other handbooks, the Handbook of Asian Finance: REITs, Trading, and Fund Performance explains what is going on in Asia today. - Presents the only micro- and market-related analysis of pan-Asian finance available today - Explores the implications implicit in the expansion of sovereign funds and the growth of the hedge fund and real estate fund management industries - Investigates the innovations in technology that have ushered in faster capital flow and larger trading volumes

Download or read book Emerging Trends in Real Estate written by and published by . This book was released on 2008 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Real Estate And Taxation In Singapore written by Hong Beng Tay and published by World Scientific. This book was released on 2022-09-29 with total page 636 pages. Available in PDF, EPUB and Kindle. Book excerpt: Real Estate and Taxation in Singapore provides a multi-disciplinary approach to the subject for Singapore real estate and tax aficionados. The book helps the reader to navigate the complex world of real estate taxation by taking them through the various changes in the Singapore real estate market over the years, as well as the property development and investment life cycle from acquisition and development, to investment and ownership, to disposal.The book primarily focuses on tax issues — income tax, stamp duty, property tax and goods and services tax — faced by property developers and investors in Singapore. It further explains the tax and non-tax aspects of topics relating to the Master Plan, development charge and differential premium, the real estate market cooling measures, as well as real estate investment trusts and funds.It is an all-in-one, 'must-have' reference book for professionals, policy-makers, academia, students and the general public who are interested in the field of real estate and taxation.

Download or read book Risk Premium Management an Asian Direct Real Estate Dre Perspective written by Ho Kim Hin/David and published by Partridge Publishing Singapore. This book was released on 2020-09-24 with total page 435 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is concerned with the unique findings, contributions and recommendations made on several crucial issues, relating to the concomitant subjects of direct real estate (DRE) risk premiums and DRE risk management. Chapter 1 examines the institutional nature of legal origin and the total returns (TRs), from investing in a country’s DRE and via the adoption of a multi-factor arbitrage pricing theory (APT) model. Chapter 2 affirms the true historical volatility to be a reasonable estimation of international DRE risk premiums, when the autoregressive lag orders of the de-smoothed returns and the multi-factor model are taken into account. Chapter 3’s real world of international DRE investing counts on sustainable international DRE investing, imperative for the investing organization’s willingness and preparedness to effectively manage risk or uncertainty, early enough as part of the risk management cycle, in pursuing high risk-adjusted TRs for DRE assets. Chapter 4 recommends a model of the intuitive build-up approach of forming the DRE investment hurdle rates for new DRE investing. The resultant DRE risk premiums serve a rough guide to ensure that the DRE hurdle rate is stringent and high enough, to achieve the risk-adjusted and Sharpe-optimal portfolio TR. Chapter 5 examines the integrated DRE investment strategy for a 13-city Pan Asia DRE portfolio, of office, industrial real estate and public listed DRE companies, adopting the analytic hierarchy process (AHP) and the Markowitz quadratic programming models. Such models enable the versatile strategic asset (SAA) and the tactical asset (TAA) allocations. Chapter 6 enables the DRE institutional investor to achieve a comprehensive and in-depth return and risk assessment at the DRE level for the 4 prime Asia residential sectors of Shanghai (SH), Beijing (BJ), Bangkok (BK), and Kuala Lumpur (KL), under the DRE VaR, incremental DRE VaR and the risk-adjusted return on capital (RAROC), Chapter 7 reiterates that public policies on macroeconomic management have to be consistent and non-conflicting in a widely accepted ‘policy compact’. It is because the policies reinforce the fundamental investment value of large and complex developments, affecting the sustainable viability like the integrated resort (IR)-at-Marina-Bay, Singapore. Chapter 8 draws attention to the aftermath of the Asian economic crisis, terrorism and viral epidemics, that compel more DRE investors to risk-diversify their operations beyond their primary market into other parts of Asia. However, limited studies examine risk-reduction diversification strategies via split returns i.e. decomposing TRs into rental-yield returns and capital value (CV) returns. Chapter 9 proposes and recommends the intelligent building (IB) framework, via the fuzzy logic (FL) engine, leading to a robust measure of building intelligence, and a standard guideline for a consistent performance-based structure for the promotion of the correct IB classification.

Download or read book The Reits Real Estate Investment Trusts written by Kim Hin David Ho and published by Partridge Publishing Singapore. This book was released on 2021-11-26 with total page 354 pages. Available in PDF, EPUB and Kindle. Book excerpt: Chapter 1 examines the significance of ‘green’ buildings on the operational and financial performance of REITs. The Chapter covers different direct real estate sectors, namely office, retail and residential, for the REITS concerned to evaluate the consistency of the results. Chapter 2 looks at the risk neutral and non-risk neutral pricing of real estate investment trusts in Singapore (S-REITs), via comparing the average of the individual ratios (of deviation between expected and observed closing price/observed closing price), with the ratio (of standard deviation/mean) for closing prices, via the binomial options pricing tree model. Chapter3 highlights that while the Markowitz portfolio theory (MPT) is popular in modern finance to model portfolios with maximum total returns (TRs) for a given systematic risk, the more flexible multivariate copula model is introduced that enables investors and portfolio managers to obtain the optimal portfolio. Chapter 4 looks at a value investing framework, in which a REIT and real estate comany investment operation is deemed to be one, where a “thorough analysis”, should promise the safety of a principal and an adequate total return. Chapter 5 examines the market reactions of Malaysia’s listed property trusts and property common stocks to corporate restructuring activities – direct real estate asset acquisitions and new listings. Chapter 6 reports the Monetary Authority of Singapore (MAS) consultations with the Inland Revenue Authority of Singapore (IRAS) and the Ministry of Finance (MOF), to introduce the Income Tax Act (ITA) amendments, and a new temporary relief measure for real estate investment trusts (REITs) in Singapore. The Chapter also looks at the proposal by the Asian Public Real Estate Association (APREA) to the MAS, to create a private REIT structure Chapter 7 looks at the key issues and notes on the valuation of the public real estate investment trusts (REITs) and the real estate companies, adopting several valuation metrics to value REITs on a stand-alone and a relative basis. Chapter 8 looks at the unique Asian REIT institutional environment, pertaining to the S-REIT, while cross referencing it to that of the CapitaMall Trust (S-CMT) and the Hong Kong HK- Link REIT. Chapter 9 summarises the book’s findings and highlights the contributions and recommendations made.

Download or read book Alternative Investments written by CAIA Association and published by John Wiley & Sons. This book was released on 2016-09-22 with total page 1107 pages. Available in PDF, EPUB and Kindle. Book excerpt: In-depth Level II exam preparation direct from the CAIA Association CAIA Level II is the official study guide for the Chartered Alternative Investment Analyst professional examination, and an authoritative guide to working in the alternative investment sphere. Written by the makers of the exam, this book provides in-depth guidance through the entire exam agenda; the Level II strategies are the same as Level I, but this time you'll review them through the lens of risk management and portfolio optimisation. Topics include asset allocation and portfolio oversight, style analysis, risk management, alternative asset securitisation, secondary market creation, performance and style attribution and indexing and benchmarking, with clear organisation and a logical progression that allows you to customise your preparation focus. This new third edition has been updated to align with the latest exam, and to reflect the current practices in the field. The CAIA designation was developed to provide a standardized knowledge base in the midst of explosive capital inflow into alternative investments. This book provides a single-source repository of that essential information, tailored to those preparing for the Level II exam. Measure, monitor and manage funds from a risk management perspective Delve into advanced portfolio structures and optimisation strategies Master the nuances of private equity, real assets, commodities and hedge funds Gain expert insight into preparing thoroughly for the CAIA Level II exam The CAIA Charter programme is rigorous and comprehensive, and the designation is globally recognised as the highest standard in alternative investment education. Candidates seeking thorough preparation and detailed explanations of all aspects of alternative investment need look no further than CAIA Level II.

Download or read book The Geopolitics of Real Estate written by Dallas Rogers and published by Rowman & Littlefield. This book was released on 2016-10-04 with total page 207 pages. Available in PDF, EPUB and Kindle. Book excerpt: Individual foreign investment in Western nation states is a long-standing geopolitical issue. The expansion of the middle class in BRICS and Asian countries, and their increased activity in Western real estate markets as foreign investors, have introduced new and revived existing cultural and geopolitical sensitivities. In this book, Dallas Rogers develops a new history of foreign real estate investment by mapping the movement of human and financial capital over more than four centuries. The book argues the reconfiguration of Asian geopolitical power has ruptured the conceptual landscape for understanding international land and real estate relations. Drawing on assemblage theories (Latour, Deleuze and Guattari), assemblage analytical tactics (Sassen and Ong) and discursive media theories (Kittler and Foucault) a series of vignettes of land and real estate crisis are presented. The book demonstrates how foreign land claimers and global real estate professionals colonise, subvert and act beyond the governance structures of settler-societies to facilitate new types of capital circulation and accumulation around the world.

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 352 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 Real Estate in South Asia written by Prashant Das and published by Routledge. This book was released on 2019-06-03 with total page 324 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides insights into commercial and residential real estate markets in one of the world’s fastest growing regions: South Asia. Despite being the growth leader of the future, South Asia is among the "least integrated" regions with a large need for real-estate-specific information and knowledge. Scholars and industry practitioners from a variety of backgrounds come together to provide pan-regional and country-specific insights into—amongst others—institutional, economic and real estate market characteristics, real-estate-specific legislation, real estate financing, development and urban planning practices in Bangladesh, Bhutan, India, the Maldives, Nepal, Pakistan and Sri Lanka. A particular focus of the book is on topics such as the provision of affordable housing, sustainability, innovative office concepts such as co-working and the development of real estate investment trust (REIT) markets in South Asia. This book integrates knowledge on real estate markets in and across South Asian countries by means of country profiles and case studies to provide industry professionals, policy makers and scholars with a fundamental understanding of characteristics, opportunities and challenges in the region. The book is intended for readers with interests in real estate development, finance and investment, urban planning and housing in South Asia. It is also suitable as a reference textbook for undergraduate and graduate students in programs focusing on real estate, economic development, urban planning and public policy in South Asia and other emerging countries.

Download or read book Three Peaks Leadership written by Philip Levinson and published by Practical Inspiration Publishing. This book was released on 2021-03-01 with total page 227 pages. Available in PDF, EPUB and Kindle. Book excerpt: When you become the final decision maker, everything changes. We all know that it’s tough at the top. But nothing, nothing can quite prepare you for becoming CEO. Philip Levinson has experienced that ‘What now?’ moment as a rookie CEO. In Three Peaks Leadership, he shares the challenges he’s faced and the lessons he’s learned to help aspiring and new leaders prepare for life as a CEO. The book charts a typical CEO journey, starting in the foothills, looking ahead to the role and how you can prepare for it, before scaling the three peaks: the first 100 days in role running the business, and preparing your company and yourself for your exit. It’s an expedition that needs the right preparation, mindset and approach, not to mention stamina, resilience and support. Three Peaks Leadership offers a unique route map for that journey. It’s a hands-on guide, a framework of strategies, tools and techniques that will inform the rest of your career. Whether you’re in the foothills or already scaling your first CEO summit, Three Peaks Leadership will show you the way. ‘a book that senior managers should retain in the top drawer of their desk’ Paul Durrant – CEO, Conduit Group