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The gif Catalog of Real Estate Risk Measures: A Step towards Benchmarking Real Estate Risk

Author

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  • Carsten Lausberg
  • Tobias Schultheiß

Abstract

GIF, the Society of Property Researchers in Germany, recently published a catalog of key measures for managing real estate risk. It contains a comprehensive list with standardized descriptions along with sample applications. While some of the figures are well-known to everybody working in this field, several others are uncommon either for academic researchers or for practitioners. The prime goal of the catalog is to contribute to the professionalization of real estate risk management. The goal of our paper is different: We want to present the catalog to the scientific community and to suggest paths for further research on risk measures. One direction could be the systematic investigation of heuristic risk measures such as the Herfindahl-Hirschmann-Index (for concentration risk) or the weighted average remaining lease term (for vacancy risk). Another course could be the standardization of risk measures in such a way that benchmarking becomes possible for real estate investors.

Suggested Citation

  • Carsten Lausberg & Tobias Schultheiß, 2021. "The gif Catalog of Real Estate Risk Measures: A Step towards Benchmarking Real Estate Risk," ERES eres2021_113, European Real Estate Society (ERES).
    • Handle: RePEc:arz:wpaper:eres2021_113
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    More about this item

    Keywords

    benchmarking; real estate; risk measure;
    All these keywords.

    JEL classification:

    • R3 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location

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