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Real Estate Derivatives
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Book Synopsis Real-estate Derivatives by : Radu Tunaru
Download or read book Real-estate Derivatives written by Radu Tunaru and published by Oxford University Press. This book was released on 2017 with total page 289 pages. Available in PDF, EPUB and Kindle. Book excerpt: Provides a state-of-the-art overview of real-estate derivatives which covers the description of these financial products, their applications, and the most important models.
Book Synopsis Property Derivatives by : Juerg M. Syz
Download or read book Property Derivatives written by Juerg M. Syz and published by John Wiley & Sons. This book was released on 2008-12-08 with total page 252 pages. Available in PDF, EPUB and Kindle. Book excerpt: Property derivatives have the potential to revolutionize real estate - the last major asset class without a liquid derivatives market. The new instruments offer ease and flexibility in the management of property risk and return. Property funds, insurance companies, pension and life funds, speculators, hedge funds or any asset manager with a view on the real estate market can apply the new derivatives to hedge property risk, to invest synthetically in real estate, or for portfolio optimization. Moreover, developers, builders, home suppliers, occupiers, banks, mortgage lenders and governmental agencies can better cope with their real estate exposure using property derivatives. This book is a practical introduction to property derivatives and their numerous applications. Providing a comprehensive overview of the property derivatives market and indices, there is also in-depth coverage of pricing, hedging and risk management, which will deepen the readers understanding of the market's mechanisms. Covering both the theoretical and practical aspects of the property derivatives markets; this book is the definitive reference guide to a new and fast-growing market.
Book Synopsis Property Derivatives - A basic insight with a special focus on Austria by : Carina Wechtl
Download or read book Property Derivatives - A basic insight with a special focus on Austria written by Carina Wechtl and published by GRIN Verlag. This book was released on 2012-03-02 with total page 55 pages. Available in PDF, EPUB and Kindle. Book excerpt: Bachelor Thesis from the year 2011 in the subject Economics - Finance, grade: 1.8, Fachhochschule des bfi Wien GmbH, language: English, abstract: Research Question: The main research question of this paper is: "How do property derivatives work and which advantages do they have?" This question is answered in the chapters two to five where the necessary parts to establish property derivatives and their advantages in comparison with other real estate investments are mentioned. The secondary questions are: "Is there a property derivatives market in Austria or even a potential?", and "For whom can a property derivative make sense and where is the state-of the-art in property derivative knowledge in Austria?" The first question is answered in chapter six and seven. The method to find out the state-of the-art of knowledge is identified in chapter seven.
Book Synopsis New Frontiers in Real Estate Finance by : Patrick Lecomte
Download or read book New Frontiers in Real Estate Finance written by Patrick Lecomte and published by Routledge. This book was released on 2021-06-04 with total page 222 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book introduces three innovative concepts and associated financial instruments with the potential to revolutionise real estate finance. The factorisation of commercial real estate with factor-based real estate derivatives is the first concept analysed in this book. Methodological issues pertaining to factors in real estate risk analysis are covered in detail with in-depth academic reference. The book then analyses the digitalisation of commercial real estate. The environment in which buildings operate is changing fast. Cities which used to be made up of inanimate architectural structures are growing digital skins and becoming smarter. Smart technologies applied to the built environment are fundamentally changing buildings’ role in cities and their interactions with their occupants. The book introduces the concept of smart space and analyses the emergence of ‘digital rights’ or property rights for smart buildings in smart environments. It proposes concepts and methods for identifying, pricing, and trading these new property rights which will dominate commercial real estate in the future. Finally, the tokenisation of commercial real estate is explored. Sometimes described as an alternative to securitisation, tokenisation is a new tool in financial engineering applied to real assets. The book suggests two innovative applications of tokenisation: private commercial real estate index tokenisation and data tokens for smart buildings. With factorisation, digitalisation, and tokenisation, commercial real estate is at the forefront of innovations. Real estate’s unique characteristics, stemming from its physicality, trigger new ways of thinking which might have a profound impact on other asset classes by paving the way for micro markets. Factor-based property derivatives, digital rights, and tokens embody how commercial real estate can push the boundaries of modern capitalism and, in doing so, move at the centre of tomorrow’s smart economies. This book is essential reading for all real estate, finance, and smart technology researchers and interested professionals.
Book Synopsis Structured Real Estate Derivatives by : Jarret DiToro
Download or read book Structured Real Estate Derivatives written by Jarret DiToro and published by . This book was released on 2004 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Real-Estate Derivatives by : Radu S. Tunaru
Download or read book Real-Estate Derivatives written by Radu S. Tunaru and published by Oxford University Press. This book was released on 2017-04-07 with total page 280 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book brings together the latest concepts and models in real-estate derivatives, the new frontier in financial markets. The importance of real-estate derivatives in managing property price risk that has destabilized economies frequently over the last hundred years has been brought into the limelight by Robert Shiller. In spite of his masterful campaign for the introduction of real-estate derivatives, these financial instruments are still in a state of infancy. This book aims to provide a state-of-the-art overview of real-estate derivatives, covering the description of these financial products, their applications, and the most important models proposed in the literature. In order to facilitate a better understanding of the situations when these products can be successfully used, ancillary topics such as real-estate indices, mortgages, securitization, and equity release mortgages are also discussed. The book examines econometric aspects of real-estate index prices time series and financial engineering non-arbitrage principles governing the pricing of derivatives. The emphasis is on understanding the financial instruments through their mechanics and comparative description. The examples are based on real-world data from exchanges or from major investment banks or financial houses in London. The numerical analysis is easily replicable with Excel and Matlab.
Book Synopsis Real Estate Derivatives by : Oriel Eisenberg
Download or read book Real Estate Derivatives written by Oriel Eisenberg and published by . This book was released on 2013 with total page 79 pages. Available in PDF, EPUB and Kindle. Book excerpt: The paper reviews the development, structure and trade of past real estate equity hedging instruments. The reviewed products represent a wide array of real estate derivatives, covering multiple property types, index methodologies and trading domains. Based on a series of interviews with leading product developers, market makers, traders and scholars, the paper examines and defines the unique features of the different products and analyzes their value proposition, market conditions and performance. In order to gain an overall perspective on the prospects of real estate derivatives, the paper discusses types of market demand for real estate investing and hedging. In this context, we present real estate debt hedging instruments and compare their trade and use with past real estate equity products. In addition, we discuss recent regulatory acts and their influence on trading requirements and costs, market making and players as well as market efficiency. In the last chapter, the paper presents Pure Property, a current real estate hedging solution, marketed by NAREIT and FTSE. We research Pure Property and compare it to past products. The paper points on Pure Property's new concept and its implications on asset valuation, product functionality and trading liquidity. The paper studies the ETF structure of the product and its contribution to arbitrage activity. For the above-mentioned advantages, the paper predicts that Pure Property is likely to establish a liquid, real estate hedging market.
Book Synopsis A Study on Real Estate Derivatives by : Jong Yoon Lim (S.M.)
Download or read book A Study on Real Estate Derivatives written by Jong Yoon Lim (S.M.) and published by . This book was released on 2006 with total page 200 pages. Available in PDF, EPUB and Kindle. Book excerpt: (Cont.) These pricing methods present a basic foundation for investors to price all three types of swap currently being offered by Credit Suisse. In our study, we find that derivatives can provide numerous benefits to real estate investors including low transaction cost, quick execution and short-selling mechanism. These benefits in turn can help investors implement various strategies including hedging against market risk, asset allocation, sector rebalancing, international diversification and portable Alpha. Our research on UK's experience in real estate derivatives as well as our investor survey results in the U.S. and the UK lead us to believe that further initiative and pioneering efforts are critical for the development of the real estate derivatives market. By presenting this study on index forecasting models and pricing methodologies, we hope to increase the awareness and comfort level of investors and thus encourage the proliferation of real estate derivatives.
Book Synopsis Barriers to Growth in the US Real Estate Derivatives Market by : Jani Venter
Download or read book Barriers to Growth in the US Real Estate Derivatives Market written by Jani Venter and published by . This book was released on 2007 with total page 218 pages. Available in PDF, EPUB and Kindle. Book excerpt: (Cont.) The US real estate sector is an eight trillion dollar market composed of real estate assets which has been managed until recently without pointed focus on the property specific risk. The size of this market presents a vast opportunity for risk hedging, asset allocation and portfolio rebalancing in a more efficient manner through the use of derivatives.
Book Synopsis Synthetization of Real Estate Via Derivatives by : Daniel Piazolo
Download or read book Synthetization of Real Estate Via Derivatives written by Daniel Piazolo and published by . This book was released on 2008 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Derivates on a property index offer a great opportunity to diversify a real estate portfolio quickly and cost effectively. Property investors can use derivatives to expand or reduce the allocation in certain markets and sectors. Property index derivatives allow investors to change synthetically and quickly country allocations in their portfolios. Overall, derivatives on property indices decrease effectively the illiquidity of property as asset class. Therefore derivates make asset classes comparable - also between national boundaries - and will contribute to professional property portfolio management. A well-functioning market for property derivatives helps to diversify investment markets. This contribution sets out the different types of property derivatives, potential underlying indices and recent developments. Furthermore, the license agreements and the perspective for derivatives are discussed. Other markets demonstrate the great potential for property index derivatives. For example, derivatives on coal exist since 1998. At that time, investors traded derivatives for nominal one million tons of that resource. Until 2003, the derivatives volume increased to nominal 250 million tons, only to grow further to 2,000 million tons of coal by now. Hence, the dealing in coal derivatives is five times bigger than the real physical coal trade to date. The dealing in derivatives may even increase further as some oil markets show where the trading in derivatives is 15 times as big as the real transaction volume. Consequently, it is expected that property index derivatives might also experience a phenomenal growth in the near future.
Book Synopsis Global Trends in Real Estate Finance by : Graeme Newell
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.
Book Synopsis Real Estate Derivatives by : Roscoe Chubb
Download or read book Real Estate Derivatives written by Roscoe Chubb and published by . This book was released on 2009 with total page 75 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Pricing Residential Real Estate Derivatives by : Mark Richter
Download or read book Pricing Residential Real Estate Derivatives written by Mark Richter and published by . This book was released on 2015 with total page 13 pages. Available in PDF, EPUB and Kindle. Book excerpt: This article, which is primarily didactic in nature, provides basic intuition on asset pricing and risk-neutral valuation with a specific focus on residential real estate. I look into the pricing of physical real estate and two variations of derivative. I derive some specific valuation formulas in a highly simplified context of a one-period economy on a discrete probability space. I generalise the formulas to a limited extent for a multi-period economy. The formulas can be applied to richer structures in a straightforward manner and which I hope to do in future iterations of this text.
Book Synopsis Derivatives on Real Estate Indices by : Daniel Piazolo
Download or read book Derivatives on Real Estate Indices written by Daniel Piazolo and published by . This book was released on 2015 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Derivatives on real estate indices have the potential to increase effectively the liquidity of real estate as an asset class. A well-functioning market for real estate derivatives will help diversify investment markets since real estate derivates allow investors to change synthetically and quickly country allocations in their portfolios. If portfolio managers are able to increase or decrease their exposure in the various real estate markets they will be able to manage their risks better. The market for real estate derivatives is still in an Infant stage in Germany, though. Still, derivatives on real estate indices have also in Germany the potential to contribute substantially to professionalize real estate portfolio management.
Book Synopsis Risk Management with Residential Real Estate Derivatives by : Quinn William Eddins
Download or read book Risk Management with Residential Real Estate Derivatives written by Quinn William Eddins and published by . This book was released on 2008 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt: (Cont.) Finally, I describe a methodology for determining whether and how much a firm should hedge.
Book Synopsis Merton Miller on Derivatives by : Merton H. Miller
Download or read book Merton Miller on Derivatives written by Merton H. Miller and published by John Wiley & Sons. This book was released on 1997-08-25 with total page 266 pages. Available in PDF, EPUB and Kindle. Book excerpt: Dieses Buch ist die sorgfältig umgeschriebene und redigierte Bearbeitung von Reden und Aufsätzen des Nobelpreisträgers Merton Miller, die seine persönlichen Einschätzungen des Marktes widerspiegeln. Gut verständlich wird die Problematik der Derivative sowie wichtige Themen der modernen Finanzwelt - jedoch ohne mathematische Formeln - erörtert. (10/97)
Book Synopsis Derivatives by : Rangarajan Sundaram
Download or read book Derivatives written by Rangarajan Sundaram and published by McGraw-Hill. This book was released on 2016-10-11 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
