Real Estate Return in Hong Kong and its Determinants: A Dynamic Gordon Model Analysis

The COVID-19 Sentiment and Office Markets: Evidence from China

“…Numerous studies on green office buildings also show a performance premium both in value and rent (Newell et al [25]; Onishi et al [26]). Previous research has also examined office market returns and their determinants (Hordijk et al [27]; Wang & Hartzell [28]); however, due to the lack of data on office building prices (unlike residential properties, office buildings are less frequently transacted. This also highlights the importance of a dedicated study on office buildings), we will only examine office rent and vacancy rate determinants in this paper.…”

Analysing the relationship between global REITs and exchange rates: Fresh evidence from frequency-based quantile regressions

“…In particular, Nyakabawo et al (2018) examined the surprise impact of U.S. monetary policy and macroeconomic variables on the returns and volatility of the local housing market. While macroeconomic surprises did not affect housing returns, monetary policy had a much greater impact on returns across different periods (see also, Wang & Hartzell, 2020;Feng & Wu, 2021;Marfatia et al, 2021;Cohen & Burinskas, 2020;Mansur et al, 2020;Wang & Zong, 2020;Victor & Razali, 2019;etc.). According to Aye and Gupta (2019), even macroeconomic uncertainties can influence buying versus renting in the United States, affecting the performance of REITs.…”