The Drivers of Direct Commercial Real Estate Returns in an Emerging Market: Evidence From South Africa

Akinsomi, Omokolade; Mkhabela, Nikiwe; Taderera, Marimo

doi:10.15396/afres2016_105

Sustainable Multi-Sectoral Real Estate Development in Emerging Economies - The 16th African Real Estate Society Conference 2016

DOI: 10.15396/afres2016_105

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The Drivers of Direct Commercial Real Estate Returns in an Emerging Market: Evidence From South Africa

Omokolade Akinsomi¹,

Nikiwe Mkhabela²,

Marimo Taderera³

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2024

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Decision-Making Amid Economic Uncertainty: Exploring the Key Considerations of Commercial Property Investors

Ahiadu,

Abidoye,

Yiu

2024

Buildings

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This study explored the key considerations of commercial property investors acting under conditions of economic uncertainty across the following three dimensions: market fundamentals, institutional, and behavioural factors. Over the past few decades, a series of exogenous shocks to the global economy has impacted property performance, investment volumes, and investor perceptions. Acknowledging that uncertainty further complicates investment decision-making, a mixed-methods research approach was adopted to examine the perspectives of 5 experts and 412 property investors. The findings revealed that, while most investors express negative responses to uncertainty and adopt more cautious attitudes, others are more aggressive and attempt to capitalise on emerging opportunities. Market fundamentals are not the only key consideration; access to information and investors’ behaviour all impact how decisions are made under these conditions. In particular, wealthy and more experienced investors make more comprehensive decisions, considering all three dimensions, while aggressive investors may disregard data in favour of intuition. Behavioural biases such as the bandwagon effect and fear of missing out (FOMO) all influence decisions and are sometimes exacerbated by media narratives. Practically, these considerations underscore the complexity of decision-making under conditions of uncertainty and how different investors attempt to navigate market volatility.

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Decision-Making Amid Economic Uncertainty: Exploring the Key Considerations of Commercial Property Investors

Ahiadu,

Abidoye,

Yiu

2024

Buildings

View full text Add to dashboard Cite

show abstract

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The Drivers of Direct Commercial Real Estate Returns in an Emerging Market: Evidence From South Africa

Cited by 1 publication

References 0 publications

Decision-Making Amid Economic Uncertainty: Exploring the Key Considerations of Commercial Property Investors

Decision-Making Amid Economic Uncertainty: Exploring the Key Considerations of Commercial Property Investors

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