IDEAS home Printed from https://ideas.repec.org/a/taf/repmxx/v12y2006i2p119-154.html
   My bibliography  Save this article

Designing Property Futures Contracts and Options Based on NCREIF Property Indices

Author

Listed:
  • Patrick Lecomte
  • Will McIntosh

Abstract

Executive Summary.Due to the heterogeneous nature of real estate assets, as well as the difficulty in selecting a reliable and representative underlying index, real estate markets are the last of the major asset classes not to have a liquid futures market. The design presented here for property futures contracts is based on a selection of NCREIF Property Indices (NPIs). Seventy-five potential underlying indexes/sub indexes in the NCREIF database are examined. The findings indicate that provided an innovative combination of contract specifications is selected, establishing NPI-based property futures and options is conceptually feasible. They would represent a notable improvement to the current situation where risk management tools are notoriously scarce for real estate investors.

Suggested Citation

  • Patrick Lecomte & Will McIntosh, 2006. "Designing Property Futures Contracts and Options Based on NCREIF Property Indices," Journal of Real Estate Portfolio Management, Taylor & Francis Journals, vol. 12(2), pages 119-154, January.
  • Handle: RePEc:taf:repmxx:v:12:y:2006:i:2:p:119-154
    DOI: 10.1080/10835547.2006.12089752
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1080/10835547.2006.12089752
    Download Restriction: Access to full text is restricted to subscribers.

    File URL: https://libkey.io/10.1080/10835547.2006.12089752?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:taf:repmxx:v:12:y:2006:i:2:p:119-154. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Chris Longhurst (email available below). General contact details of provider: http://www.tandfonline.com/repm20 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.