BIROn - Birkbeck Institutional Research Online

    Ownership yield and prime real estate in alpha cities

    Geman, Hélyette and Velez, Tara (2016) Ownership yield and prime real estate in alpha cities. The Journal of Wealth Management 19 (3), pp. 116-130. ISSN 1520-4154.

    [img] Text
    18820.pdf - Author's Accepted Manuscript
    Restricted to Repository staff only

    Download (1MB)

    Abstract

    The goal of this article is twofold. First, the authors show that the price dynamics of prime real estate markets across alpha cities are more positively correlated than they are with nonprime markets in respective cities. They then argue that prime real estate is also highly related to other tangible luxury assets, including diamonds and museum-quality paintings. These features are illustrated by an analysis of structural breaks, correlations, and cointegration over the period 2003 to 2013. Results support the existence of an “ownership yield” in a world where high- (and ultra-high-) net worth individuals are growing in number and enjoy the possession of conspicuous assets.

    Metadata

    Item Type: Article
    School: Birkbeck Schools and Departments > School of Business, Economics & Informatics > Economics, Mathematics and Statistics
    Depositing User: Administrator
    Date Deposited: 31 May 2017 13:04
    Last Modified: 25 Sep 2017 09:30
    URI: http://eprints.bbk.ac.uk/id/eprint/18820

    Statistics

    Downloads
    Activity Overview
    1Download
    132Hits

    Additional statistics are available via IRStats2.

    Archive Staff Only (login required)

    Edit/View Item Edit/View Item