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)


    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.


    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


    Activity Overview
    6 month trend
    6 month trend

    Additional statistics are available via IRStats2.

    Archive Staff Only (login required)

    Edit/View Item Edit/View Item