Real Estate Cycles / Der Immobilienzyklus

Hägg Claes
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Hägg Claes: Företagsekonomiska Institutionen, Stockholms Universitet, S-10691 Stockholm

Journal of Economics and Statistics (Jahrbuecher fuer Nationaloekonomie und Statistik), 1994, vol. 213, issue 6, 719-723

Abstract: The value of a commercial property to its owner is assumed to be equal to the discounted present value of the expected net operating income of coming years. The riskless present value of a property is defined as the present value of perfectly predicted income figures discounted by a riskless rate of interest. The riskless present value is shown to have other cyclical patterns than those of the net operating income.

Date: 1994
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Persistent link: https://EconPapers.repec.org/RePEc:jns:jbstat:v:213:y:1994:i:6:p:719-723

DOI: 10.1515/jbnst-1994-0607

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