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Characteristics of Real Estate Investment

In: Real Estate Investment

Author

Listed:
  • Colin A. Jones

    (Heriot-Watt University)

  • Edward Trevillion

    (Heriot-Watt University)

Abstract

The focus of this chapter is the nature and logic of real estate investment. It begins by distinguishing direct and indirect real estate investment. A further differentiation is then made between assets that can be bought and sold relatively easily on a stock market (listed) and those that are marketed individually say through a market broker. The chapter then examines the principal real estate sectors that constitute the investment market, and their financial characteristics. The characteristics of these investments are compared with those of stock market assets. A more in-depth comparative analysis recaps the definition and use of yields and considers the yields of real estate assets relative to stock market assets, especially the gap between gilt and property yields in different countries. The wider logic of holding real estate including its role as a hedge against inflation is examined, and as a diversification tool in a multi-asset portfolio. The chapter also examines the underlying factors influencing residential investment and the growing interest in this sector as an investment medium in the UK. Finally, the chapter considers alternative forms of real estate assets including specialised private sector business accommodation and infrastructure.

Suggested Citation

  • Colin A. Jones & Edward Trevillion, 2022. "Characteristics of Real Estate Investment," Springer Books, in: Real Estate Investment, chapter 0, pages 65-84, Springer.
    • Handle: RePEc:spr:sprchp:978-3-031-00968-6_4
    DOI: 10.1007/978-3-031-00968-6_4
    as

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