The Versatility Of The Real Estate Asset Class The Singapore Experience

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The Versatility of the Real Estate Asset Class - the Singapore Experience

Author : Kim Hin David Ho
Publisher : Partridge Publishing Singapore
ISBN 13 : 9781543763621
Total Pages : 226 pages
Book Rating : 4.7/5 (636 download)

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Book Synopsis The Versatility of the Real Estate Asset Class - the Singapore Experience by : Kim Hin David Ho

Download or read book The Versatility of the Real Estate Asset Class - the Singapore Experience written by Kim Hin David Ho and published by Partridge Publishing Singapore. This book was released on 2021-02-22 with total page 226 pages. Available in PDF, EPUB and Kindle. Book excerpt: Chapter 1 takes a close look at two types of heterogeneous investors (momentum and disposition) to form a unique difference model, to interpret housing price dynamics. Three parameters are crucial, namely, auto-correlation, the rate of mean reversion and the contemporaneous adjustment towards long-term equilibrium price. The key implication is that the 2006 boom of the Singapore private housing market does not offer as large a magnitude as that from the price gain in the 1990's boom-and-recovery over the long-term. Singapore's private housing market is low risk, offering stable returns owing to virtually no divergence even in the speculative 1990s. The best way to invest is to consider the momentum strategy and avoid the herd behaviour for profit sustainability. For policy makers, the Singapore private housing market is over-damped in the long run. Chapter 2 adopts game theory to look at the private residential development oligopolistic market; the determination of residential development sale prices in an uncertain market and under incomplete information of competing developers; the dynamic interaction among developers; the time lags of the development project completion from project start; and the launching of the residential development for sale before completion and the residential development's own capacity constraints. Developers tend to cooperate for long-term benefit, leading to a sales slowdown. Relatively high profits, earnable in the first few periods, provide an allowance to price undercut others, to sell much faster. First-mover advantage in a new market is evident. As uncertainty rises, prices decrease while price variability increases. Chapter 3 looks at the institutional nature of legal origin and the total returns (TRs), derived from investing in a country's direct real estate, and via the adoption of a multi-factor arbitrage pricing theory (APT) model. The 1st and 4th order autoregressive model is adopted to de-smooth the TRs. De-smoothed data is used in conjunction with 2 macroeconomic variables (real GDP growth rate and interest rate) and 1 real estate risk factor (vacancy rate) to form the multi-factor structural model. A pooled panel analysis is conducted with the law-system dummies, denoting British legal origin and French legal origin, and the factor loadings (i.e. the sensitivity of the risk factor to the TRs). Macroeconomic and real estate risk factors in equilibrium affect the TRs. Vacancy rate commands high and significant risk premium owing to its direct impact on the TRs, relative to GDP growth rate and interest rate. Chapter 4 is concerned with the real estate mezzanine investment (REMI), a new financial instrument for Asia's real estate market, and examines the REMI structure, the measurement and characteristics of its risks and returns via a forward-looking binomial asset tree (BAT) model. Risk neutral pricing probability is adopted. REMI bears more risk than typical commercial bank loans, resulting in higher interest rates than pure equity. Different risk issues focus on two major sources - the financial loan to value (LTV) ratio risk and the real estate and capital markets risk. Chapter 4 fulfils the need to close the gap concerning the REMI structure and performance in the steady state, utilizing reliable, authoritative information and data sources. Lastly, Chapter 5 offers this book's conclusion.

The Versatility of the Real Estate Asset Class - the Singapore Experience

Author : Kim Hin David HO
Publisher : Partridge Publishing Singapore
ISBN 13 : 1543763618
Total Pages : 225 pages
Book Rating : 4.5/5 (437 download)

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Book Synopsis The Versatility of the Real Estate Asset Class - the Singapore Experience by : Kim Hin David HO

Download or read book The Versatility of the Real Estate Asset Class - the Singapore Experience written by Kim Hin David HO and published by Partridge Publishing Singapore. This book was released on 2021-02-22 with total page 225 pages. Available in PDF, EPUB and Kindle. Book excerpt: Chapter 1 takes a close look at two types of heterogeneous investors (momentum and disposition) to form a unique difference model, to interpret housing price dynamics. Three parameters are crucial, namely, auto-correlation, the rate of mean reversion and the contemporaneous adjustment towards long-term equilibrium price. The key implication is that the 2006 boom of the Singapore private housing market does not offer as large a magnitude as that from the price gain in the 1990’s boom-and-recovery over the long-term. Singapore’s private housing market is low risk, offering stable returns owing to virtually no divergence even in the speculative 1990s. The best way to invest is to consider the momentum strategy and avoid the herd behaviour for profit sustainability. For policy makers, the Singapore private housing market is over-damped in the long run. Chapter 2 adopts game theory to look at the private residential development oligopolistic market; the determination of residential development sale prices in an uncertain market and under incomplete information of competing developers; the dynamic interaction among developers; the time lags of the development project completion from project start; and the launching of the residential development for sale before completion and the residential development’s own capacity constraints. Developers tend to cooperate for long-term benefit, leading to a sales slowdown. Relatively high profits, earnable in the first few periods, provide an allowance to price undercut others, to sell much faster. First-mover advantage in a new market is evident. As uncertainty rises, prices decrease while price variability increases. Chapter 3 looks at the institutional nature of legal origin and the total returns (TRs), derived from investing in a country’s direct real estate, and via the adoption of a multi-factor arbitrage pricing theory (APT) model. The 1st and 4th order autoregressive model is adopted to de-smooth the TRs. De-smoothed data is used in conjunction with 2 macroeconomic variables (real GDP growth rate and interest rate) and 1 real estate risk factor (vacancy rate) to form the multi-factor structural model. A pooled panel analysis is conducted with the law-system dummies, denoting British legal origin and French legal origin, and the factor loadings (i.e. the sensitivity of the risk factor to the TRs). Macroeconomic and real estate risk factors in equilibrium affect the TRs. Vacancy rate commands high and significant risk premium owing to its direct impact on the TRs, relative to GDP growth rate and interest rate. Chapter 4 is concerned with the real estate mezzanine investment (REMI), a new financial instrument for Asia’s real estate market, and examines the REMI structure, the measurement and characteristics of its risks and returns via a forward-looking binomial asset tree (BAT) model. Risk neutral pricing probability is adopted. REMI bears more risk than typical commercial bank loans, resulting in higher interest rates than pure equity. Different risk issues focus on two major sources - the financial loan to value (LTV) ratio risk and the real estate and capital markets risk. Chapter 4 fulfils the need to close the gap concerning the REMI structure and performance in the steady state, utilizing reliable, authoritative information and data sources. Lastly, Chapter 5 offers this book’s conclusion.

My Memoirs - in God We Do Best

Author : Kim Hin / David Ho
Publisher : Partridge Publishing Singapore
ISBN 13 : 1543766919
Total Pages : 154 pages
Book Rating : 4.5/5 (437 download)

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Book Synopsis My Memoirs - in God We Do Best by : Kim Hin / David Ho

Download or read book My Memoirs - in God We Do Best written by Kim Hin / David Ho and published by Partridge Publishing Singapore. This book was released on 2021-08-26 with total page 154 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book concludes with my life achievements, then discusses my expanded work experience, my published articles, my published books and citations of my articles.

An Asian International Real Estate Review

Author : Kim Hin David Ho
Publisher : Partridge Publishing Singapore
ISBN 13 : 1482879271
Total Pages : 602 pages
Book Rating : 4.4/5 (828 download)

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Book Synopsis An Asian International Real Estate Review by : Kim Hin David Ho

Download or read book An Asian International Real Estate Review written by Kim Hin David Ho and published by Partridge Publishing Singapore. This book was released on 2021-10-20 with total page 602 pages. Available in PDF, EPUB and Kindle. Book excerpt: Direct real estate market analysis is a rigorous investigative approach for academic research, and for direct real estate investment research in practice. ‘An Asian International Real Estate Review’ considers the subject in the context of economic theory pertaining to market disequilibria, utilizing data from major cities in Asia as case studies. Such an approach makes it possible to determine what really defines an Asian direct real estate sector. What is being measured? How does it behave (in terms of price and non-price factors)? How is it structured? How effectively does it achieve sustainable total returns? And how does it manage direct real estate market uncertainty? Direct real estate market uncertainty originates from both the demand-side and the supply-side of the market. The market responds to structural macroeconomic and microeconomic factors that in turn are affected by related public policies. Such factors and policies interact to affect Asian direct real estate in unique ways since the Asian currency crisis of 1997. ‘An Asian International Real Estate Review’ shows that while the details of direct real estate market analysis are different for the various Asian cities (and their direct real estate sectors) owing to their different stages of maturity, underlying principles nevertheless apply. ‘An Asian International Real Estate Review’ also looks at managing direct real estate market uncertainty at the portfolio level via the analytical techniques of direct real estate asset allocation, direct real estate value-at-risk (VaR), real option analysis and pricing.

Private Equity Financing in Infrastructure and Real Estate

Author : Josephine Gemson
Publisher : Springer Nature
ISBN 13 : 9811616345
Total Pages : 227 pages
Book Rating : 4.8/5 (116 download)

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Book Synopsis Private Equity Financing in Infrastructure and Real Estate by : Josephine Gemson

Download or read book Private Equity Financing in Infrastructure and Real Estate written by Josephine Gemson and published by Springer Nature. This book was released on 2023-04-08 with total page 227 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides a comprehensive overview of Private Equity (PE) financing in the infrastructure and real estate sectors. In doing so, it analyzes the impact of such investments in the two sectors, evaluates the types of financing strategies, and explores the value created by such investments. Infrastructure and Real Estate have emerged as a significant asset class for PE investors. In the last three decades, PE firms have invested significant amounts of capital in infrastructure and real estate – sectors which did not feature in their radar before 2000. Between 2000 and 2009, PE firms invested more than USD 200 billion in infrastructure. Real estate sector also witnessed investments of a similar scale as that of infrastructure. Fundraising for infrastructure and real estate was about USD 100 billion and USD 150 billion respectively in 2019, setting new records and reaching all-time highs. This book examines such PE investments – both at a global level and at an emerging economy level, to identify how PE firms have created an impact with their investments, to provide both ready capital and value-addition to sectors which seem to urgently need both. The book is divided into three sections – impact of PE investments, strategies used by PE firms, and value created by such investments. The findings of this research and the corresponding best practices are useful and applicable to students, academicians, researchers, financial institutions, policy makers and law makers, commercial banks and funding agencies, practitioners, the Government, and other parties who are directly or indirectly associated with the development of infrastructure and real estate; and could aid funding agencies, practitioners and policy makers who are directly responsible for creating and developing infrastructure and real estate for their economies.

Europe Real Estate Yearbook 2008

Author : M. Dijkman
Publisher : Real Estate Publishers BV
ISBN 13 : 9077997296
Total Pages : 804 pages
Book Rating : 4.0/5 (779 download)

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Book Synopsis Europe Real Estate Yearbook 2008 by : M. Dijkman

Download or read book Europe Real Estate Yearbook 2008 written by M. Dijkman and published by Real Estate Publishers BV. This book was released on 2008 with total page 804 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Handbook of Asian Finance

Author : David LEE Kuo Chuen
Publisher : Academic Press
ISBN 13 : 0128010630
Total Pages : 544 pages
Book Rating : 4.1/5 (28 download)

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Book Synopsis Handbook of Asian Finance by : David LEE Kuo Chuen

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 544 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

Singapore Business

Author :
Publisher :
ISBN 13 :
Total Pages : 600 pages
Book Rating : 4.:/5 (318 download)

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Book Synopsis Singapore Business by :

Download or read book Singapore Business written by and published by . This book was released on 1998 with total page 600 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Exchange-Traded Funds for Canadians for Dummies

Author : Russell Wild
Publisher : John Wiley & Sons
ISBN 13 : 1118524578
Total Pages : 387 pages
Book Rating : 4.1/5 (185 download)

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Book Synopsis Exchange-Traded Funds for Canadians for Dummies by : Russell Wild

Download or read book Exchange-Traded Funds for Canadians for Dummies written by Russell Wild and published by John Wiley & Sons. This book was released on 2013-07-22 with total page 387 pages. Available in PDF, EPUB and Kindle. Book excerpt:

International Real Estate

Author : David Kim Hin Ho
Publisher : NUS Press
ISBN 13 : 9789971693534
Total Pages : 620 pages
Book Rating : 4.6/5 (935 download)

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Book Synopsis International Real Estate by : David Kim Hin Ho

Download or read book International Real Estate written by David Kim Hin Ho and published by NUS Press. This book was released on 2007 with total page 620 pages. Available in PDF, EPUB and Kindle. Book excerpt: Considers real estate market analysis in the context of economic theory pertaining to market disequilibria, utilising data from major cities in Asia as case studies. This book looks at managing real estate market uncertainty at the portfolio level through the analytical techniques of real estate asset allocation.

New Cities of the Pacific Rim

Author : Edward James Blakely
Publisher :
ISBN 13 :
Total Pages : 512 pages
Book Rating : 4.:/5 (4 download)

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Book Synopsis New Cities of the Pacific Rim by : Edward James Blakely

Download or read book New Cities of the Pacific Rim written by Edward James Blakely and published by . This book was released on 1992 with total page 512 pages. Available in PDF, EPUB and Kindle. Book excerpt:

The Routledge REITs Research Handbook

Author : David Parker
Publisher : Routledge
ISBN 13 : 1351664824
Total Pages : 352 pages
Book Rating : 4.3/5 (516 download)

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Book Synopsis The Routledge REITs Research Handbook by : David Parker

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.

The Strategies of China’s Firms

Author : Hailan Yang
Publisher : Chandos Publishing
ISBN 13 : 0081002769
Total Pages : 190 pages
Book Rating : 4.0/5 (81 download)

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Book Synopsis The Strategies of China’s Firms by : Hailan Yang

Download or read book The Strategies of China’s Firms written by Hailan Yang and published by Chandos Publishing. This book was released on 2015-07-24 with total page 190 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book aims to analyze how China’s firms in the consumer electronics (CE) sector have developed their business strategy and corporate governance during the reform process. This book examines the CE sector in particular because it is one of the country’s most important and dynamic manufacturing sectors and one of the earliest market-oriented sectors. focuses on firms with different ownership provides cases that offer insights into the interactions among key factors of environmental changes, exploitative and explorative strategies, and performance in a transition environment explains why the strategies of some firms do not fit with their environments, which leads to their poorer competitive position. compares the corporate governance of the China’s firms with different ownership explores the different ways of development of China’s firms in the consumer electronics sector from the perspectives of business strategy and corporate governance includes some wider policy-related implications related to the reform of China’s firms

2020 International Conference on Data Processing Techniques and Applications for Cyber-Physical Systems

Author : Chuanchao Huang
Publisher : Springer Nature
ISBN 13 : 9811617260
Total Pages : 1669 pages
Book Rating : 4.8/5 (116 download)

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Book Synopsis 2020 International Conference on Data Processing Techniques and Applications for Cyber-Physical Systems by : Chuanchao Huang

Download or read book 2020 International Conference on Data Processing Techniques and Applications for Cyber-Physical Systems written by Chuanchao Huang and published by Springer Nature. This book was released on 2021-06-01 with total page 1669 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book covers cutting-edge and advanced research on data processing techniques and applications for cyber-physical systems, gathering the proceedings of the International Conference on Data Processing Techniques and Applications for Cyber-Physical Systems (DPTA 2020), held in Laibin City, Guangxi Province, China, on December 11–12, 2020. It examines a wide range of topics, including distributed processing for sensor data in CPS networks; approximate reasoning and pattern recognition for CPS networks; data platforms for efficient integration with CPS networks; machine learning algorithms for CPS networks; and data security and privacy in CPS networks. Outlining promising future research directions, the book offers a valuable resource for students, researchers, and professionals alike, while also providing a useful reference guide for newcomers to the field.

Asiamoney

Author :
Publisher :
ISBN 13 :
Total Pages : 388 pages
Book Rating : 4.E/5 ( download)

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Book Synopsis Asiamoney by :

Download or read book Asiamoney written by and published by . This book was released on 2010-02 with total page 388 pages. Available in PDF, EPUB and Kindle. Book excerpt:

CFA Program Curriculum 2017 Level II, Volumes 1 - 6

Author : CFA Institute
Publisher : John Wiley & Sons
ISBN 13 : 1119315743
Total Pages : 3163 pages
Book Rating : 4.1/5 (193 download)

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Book Synopsis CFA Program Curriculum 2017 Level II, Volumes 1 - 6 by : CFA Institute

Download or read book CFA Program Curriculum 2017 Level II, Volumes 1 - 6 written by CFA Institute and published by John Wiley & Sons. This book was released on 2016-08-01 with total page 3163 pages. Available in PDF, EPUB and Kindle. Book excerpt: Master the practical aspects of the CFA Program Curriculum with expert instruction for the 2017 exam The same official curricula that CFA Program candidates receive with program registration is now publicly available for purchase. CFA Program Curriculum 2017 Level II, Volumes 1-6 provides the complete Level II Curriculum for the 2017 exam, with practical instruction on the Candidate Body of Knowledge (CBOK) and how it is applied, including expert guidance on incorporating concepts into practice. Level II focuses on complex analysis with an emphasis on asset valuation, and is designed to help you use investment concepts appropriately in situations analysts commonly face. Coverage includes ethical and professional standards, quantitative analysis, economics, financial reporting and analysis, corporate finance, equities, fixed income, derivatives, alternative investments, and portfolio management organized into individual study sessions with clearly defined Learning Outcome Statements. Charts, graphs, figures, diagrams, and financial statements illustrate complex concepts to facilitate retention, and practice questions with answers allow you to gauge your understanding while reinforcing important concepts. While Level I introduced you to basic foundational investment skills, Level II requires more complex techniques and a strong grasp of valuation methods. This set dives deep into practical application, explaining complex topics to help you understand and retain critical concepts and processes. Incorporate analysis skills into case evaluations Master complex calculations and quantitative techniques Understand the international standards used for valuation and analysis Gauge your skills and understanding against each Learning Outcome Statement CFA Institute promotes the highest standards of ethics, education, and professional excellence among investment professionals. The CFA Program Curriculum guides you through the breadth of knowledge required to uphold these standards. The three levels of the program build on each other. Level I provides foundational knowledge and teaches the use of investment tools; Level II focuses on application of concepts and analysis, particularly in the valuation of assets; and Level III builds toward synthesis across topics with an emphasis on portfolio management.

Eyes on the Prize

Author : Connie Carter
Publisher : BRILL
ISBN 13 : 9004481052
Total Pages : 327 pages
Book Rating : 4.0/5 (44 download)

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Book Synopsis Eyes on the Prize by : Connie Carter

Download or read book Eyes on the Prize written by Connie Carter and published by BRILL. This book was released on 2021-10-18 with total page 327 pages. Available in PDF, EPUB and Kindle. Book excerpt: Most law and development books focus on "what went wrong". Eyes on the Prize is an exception: it focuses on "what went right" in Singapore's transformation from squalid colony to successful growth-oriented, capitalist state. It questions the efficacy and nature of the role of law in the forty-year transformation, in the light of traditional and neo-traditional theories of law and development. It has not been the "rule of law" as such that has contributed to Singapore's development. Rather it has been law as the embodiment of "mature policy" of a goal-oriented, politically stable, educated, largely non-corrupt, communitarian and authoritarian state bureaucracy, which was grafted onto the remnants of the previous colonial administrative structures. Dr Carter examines Singapore's economic development in relation to labour law, land law, and intellectual property law, testing these against key aspects of law and development theories. While analyses of the former challenge the law and development convergence theory, that of intellectual property law uncovers the transforming impact of global influences such as the WTO. As such, the book provides a novel and balanced account for the student of law and economic development.