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The assessment of real estate risk

Defense Thèse de doctorat : Univ. Genève, 2015 - GSEM 6 - 2015/03/03
Abstract Research has found deficiencies in the adoption of risk management methods for real estate because of difficulties in measuring real estate risk on a systematic basis. The goal of this thesis is therefore to add to the knowledge of real estate risk, to increase the awareness of both property-specific as well as economic risks and thereby to provide information and methods to better and more systematically measure and assess these risks.The results are useful for investors, policy makers and risk managers for several reasons. First, the thesis identifies the main drivers of interest rate risk and discusses how the interest rate risk of real estate investments can be influenced. Next, we show to what degree various risk factors are priced in the market and present important differences in the perception, assessment and pricing of risk by investors and appraisers. Finally, we analyse the linkages between the economy and the real estate (sub-) markets and thereby enable for a better assessment of the market dynamics and to gauge the impact of potential policy interventions.
URN: urn:nbn:ch:unige-756673
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CHANEY, Alain. The assessment of real estate risk. Université de Genève. Thèse, 2015. https://archive-ouverte.unige.ch/unige:75667

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Deposited on : 2015-10-05

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