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

Carsten Lausberg and Tobias Schultheiß

ERES from European Real Estate Society (ERES)

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.

Keywords: benchmarking; real estate; risk measure (search for similar items in EconPapers)
JEL-codes: R3 (search for similar items in EconPapers)
Date: 2021-01-01
New Economics Papers: this item is included in nep-isf, nep-rmg and nep-ure
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