Direct investment in real estate

Marcato, G. ORCID: https://orcid.org/0000-0002-6266-4676 and Key, T. (2005) Direct investment in real estate. Journal of Portfolio Management, 31. pp. 55-69. ISSN 0095-4918 doi: 10.3905/jpm.2005.593888

Abstract/Summary

Momentum strategies have the potential to generate extra profits in private real estate markets. Tests of a variety of frequencies of portfolio reweighting identify periods of winner and loser performance. There are strong potential gains from momentum strategies that are based on prior returns over a 6- to 12-month period. Whether these gains are attainable for real-world investors depends on transaction costs, but some momentum strategies do produce net excess returns. The findings hold even if returns are unsmoothed to reflect underlying market prices.

Additional Information	Special real estate issue
Item Type	Article
URI	https://reading-clone.eprints-hosting.org/id/eprint/15673
Item Type	Article
Refereed	Yes
Divisions	Henley Business School > Real Estate and Planning
Additional Information	Special real estate issue
Publisher	Euromoney Institutional Investor Plc
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