Article


The Determinants of International Commercial Real Estate Investment


in Journal of Real Estate Finance and Economics, 48 (4)

ISSN : 0895-5638

par Groh, Alexander (19..-....) ; Lieser, Karsten

2014 - 611-659 p. | En anglais

We examine the determinants of international commercial real estate investment using a unique set of panel data series for 47 countries worldwide, covering the period from 2000 to 2009. We explore how different socio-economic, demographic and institutional characteristics affect commercial real estate investment activity by determining both cross-sectional and time-series estimators, running augmented random effect panel regressions. We provide evidence that economic growth, rapid urbanization and compelling demographics attract real estate investment, and also demonstrate that a lack of transparency in the legal framework, administrative burdens of doing real estate business, socio-cultural challenges and political instabilities reduce international real estate allocations.

Voir la revue «Journal of Real Estate Finance and Economics»



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