Steven Devaney
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View article: UK commercial real estate valuation practice: does it now build in sustainability considerations?
UK commercial real estate valuation practice: does it now build in sustainability considerations? Open
Purpose This paper investigates the extent to which commercial property valuers in the UK refer to Royal Institution of Chartered Surveyors (RICS) professional standards and guidance on the inclusion of sustainability in valuation reports.…
View article: Adjustments in the Labor and Real Estate Markets: Estimates of the Time Series Variation in the Natural Vacancy Rate
Adjustments in the Labor and Real Estate Markets: Estimates of the Time Series Variation in the Natural Vacancy Rate Open
Large similarities exist between the labor and real estate space markets. The natural rate of unemployment (NRU) and the natural vacancy rate (NVR) are important in modeling these markets. The real estate literature has drawn on early mode…
View article: Modelling sustainable rents for estimation of long-term or fundamental values of commercial real estate
Modelling sustainable rents for estimation of long-term or fundamental values of commercial real estate Open
Commercial real estate occupier markets are analysed in the context of the debate over the role of real estate lending in financial stability and the search for long-term valuation methods to complement market value estimations. Models of …
View article: Only the Best? Exploring Cross-Border Investor Preferences in US Gateway Cities
Only the Best? Exploring Cross-Border Investor Preferences in US Gateway Cities Open
Despite heady growth in cross-border investment into commercial real estate over recent decades, there are few studies that examine differences in investment preferences between domestic and cross-border investors at a micro level. We addr…
View article: Strategic Alliance and Submarket Choices of Commercial Real Estate Investors – A Multinomial Approach
Strategic Alliance and Submarket Choices of Commercial Real Estate Investors – A Multinomial Approach Open
This study explores the strategic entry modes of overseas investors in commercial real estate market, specifically, whether if the market entry and partnering decisions of foreign investors get affected by the participation of peer investo…
View article: Determinants of transaction activity in commercial real estate markets: evidence from European and Asia-Pacific countries
Determinants of transaction activity in commercial real estate markets: evidence from European and Asia-Pacific countries Open
Variations in transaction activity between commercial real estate markets could have important implications for investment strategies and pricing. We consider why turnover rates, a com m on liquidity proxy, vary between countries and over …
View article: The price impact of liquidity in international office markets
The price impact of liquidity in international office markets Open
This paper investigates the relationship between market liquidity, as indicated by transaction activity, and real estate asset pricing. Prior research has typically focused on the US or UK markets, but this study draws upon office market d…
View article: The implied internal rate of return in conventional residual valuations of development sites
The implied internal rate of return in conventional residual valuations of development sites Open
Explicit discounted cash flow methods are used in many countries to assess the value of property investments or their likely rate of return given a particular price. These are typically supplemented by simpler models for the purpose of est…
View article: Are mortgage lenders guilty of the housing bubble? A UK perspective
Are mortgage lenders guilty of the housing bubble? A UK perspective Open
Existing theoretical models of house prices and credit rely on continuous rationality of consumers, an assumption that has been frequently questioned in recent years. Meanwhile, empirical investigations of the relationship between prices a…
View article: SOCIAL NETWORKS AND SALES TRANSACTIONS IN SOUTH AFRICAN OFFICE MARKETS
SOCIAL NETWORKS AND SALES TRANSACTIONS IN SOUTH AFRICAN OFFICE MARKETS Open
Scarcity of information on office transaction opportunities contributes to office markets being illiquid. Asset and vendor identity is problematic since information is privately held and highly localised in geographically dispersed markets…
View article: EXPLORING REAL ESTATE INVESTMENT TRUST (REIT) AS A HOUSING FINANCE OPTION IN NIGERIA
EXPLORING REAL ESTATE INVESTMENT TRUST (REIT) AS A HOUSING FINANCE OPTION IN NIGERIA Open
[excerpt] The Real Estate delivery process entails the combination of construction resources to produce structures by which land-centred proprietary interests are held. One central ingredient in this process is finance upon which, every ot…