Real Estate Market Developments and Financal Sector Soundness

Hilbers, Paul; Zacho, Lisbeth S; Qin, Lei

doi:10.5089/9781451855111.001

Cited by 67 publications

(52 citation statements)

References 5 publications

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“…Hofmann (2004) and Tsatsaronis and Zhu (2004) examine the determinants of house prices in a number of industrialised economies, and find that economic growth, inflation, interest rates, bank lending and equity prices have significant explanatory power. The linkage between property and bank lending is particularly remarkable, as highlighted by Herring and Wachter (1999), Hilbers et al (2001), Chen (2001) and Gerlach and Peng (2005). Moreover, housing markets are local in nature.…”

Section: Literature Reviewmentioning

confidence: 98%

Determinants of House Prices in Nine Asia-Pacific Economies

Glindro

Subhanij²,

Szeto³

et al. 2008

SSRN Journal

111

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Section: Literature Reviewmentioning

confidence: 98%

Determinants of House Prices in Nine Asia-Pacific Economies

Glindro

Subhanij²,

Szeto³

et al. 2008

SSRN Journal

111

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“…Thailand was the starting point of the global economic crisis in 1997 (Warr, 2000;Hilbers et al , 2001). The main factor responsible for economic crises is often traced to the behaviour of players in the real estate sector with regard to risks.…”

Section: Introductionmentioning

confidence: 99%

An examination of Thai practitioners’ perceptions of risk assessment techniques in real estate development projects

Khumpaisal

Ross²,

Abdulai³

2010

J Retail Leisure Property

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“…4. Please see Browne and Case (1992), FDIC (1997), Caouette et al (1998), Hilbers et al (2001), Collyns and Senhadji (2002), Quigley (2001) and Siebert (2002). 5.…”

Section: Resultsmentioning

confidence: 99%

Default Risk of the UK Real Estate Companies: Is There a Macro-economy Effect?

Vlamis

2007

The Journal of Economic Asymmetries

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Abstract. The aim of this paper is to empirically identify the factors which are important in explaining default risk of the UK real estate companies over the past 20 years. We estimate a pooled probit econometric model where the probability of failure is expressed as a function of both macroeconomic variables (inflation, interest rates etc) and company financial ratios. The inclusion of macroeconomic variables marks a departure from most previous studies of company bankruptcy. We find that the most important determinants of bankruptcy of the UK real estate companies are company liquidity, profitability and debt coverage as well as financial market volatility, interest rates, current account and the economic cycle. The latter provides evidence that the macro-economy crucially affects the probability of default of the real estate industry in the UK.JEL Classification: C35, G33, L85.

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Real Estate Market Developments and Financal Sector Soundness

Cited by 67 publications

References 5 publications

Determinants of House Prices in Nine Asia-Pacific Economies

Determinants of House Prices in Nine Asia-Pacific Economies

An examination of Thai practitioners’ perceptions of risk assessment techniques in real estate development projects

Default Risk of the UK Real Estate Companies: Is There a Macro-economy Effect?

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