Portfolio diversification (PD) is attracting increasing attention, as it is becoming more difficult
to optimize portfolios due to growing financial markets integration. To highlight the evolution …

In this paper, I assess the significance, risk-adjusted performance, and portfolio
diversification benefits of sub-sector REITs in Japan and their strategic role in a mixed-asset …

Japanese real estate investment trusts (J-REITs) were established in 2001. They have
rapidly grown in number and size and there have been many J-REIT mergers following the …

The cyclical nature of real estate markets poses challenges for both real estate professionals
and academia. In light of the recent financial turmoil, the question of to what extent the stock …

During the global financial tsunami, banks were very cautious in financing business needs
due to tight credit conditions. Alternative ways for financing projects were sought after by real …

Institutional investors have shown interest in rental housing investment. Housing policy
experts consider this evolving interest as essential and timely for advancing the private …

The property market in Hong Kong plays an important role in the political, social and
economic life of this vibrant city. Understanding the dynamics of the market is essential to …

This article defines, explains, organises and analyses the major risk and return
considerations involved in international real estate investments in a risk management …

Despite their short history of existence, Japanese REITs (J-REITs) play an increasingly
important role as a vehicle for property investment. In this paper we examine the long-run …