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.
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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 Faculties and Schools > Faculty of Business and Law > Birkbeck Business School |
| Depositing User: | Administrator |
| Date Deposited: | 31 May 2017 13:04 |
| Last Modified: | 02 Aug 2023 17:33 |
| URI: | https://eprints.bbk.ac.uk/id/eprint/18820 |
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