EconPapers    
Economics at your fingertips  
 

European Economic Integration and Commercial Real Estate Markets: An Analysis of Trends in Market Determinants

Elaine Worzala () and Alexandra Bernasek ()

Journal of Real Estate Research, 1996, vol. 11, issue 2, 159-182

Abstract: Economic theory predicts economic integration in the European Community (EC) will result in single markets for individual goods, services and factors of production. The specific characteristics of commercial real estate make it unlikely that a single market will result. However, even without a single market, theory predicts that markets for similar real estate (commercial office, industrial and retail) will converge as a result of economic integration. This paper examines several market determinants to see if we can find evidence of the predicted convergence. Looking at data from 1983 to 1994 we find evidence of some convergence but the extent is small and major institutional differences within the countries remain. Implications are that barriers to the efficient flow of investment funds into real estate remain and distinct markets will continue to characterize real estate within the EC.

JEL-codes: L85 (search for similar items in EconPapers)
Date: 1996
References: View complete reference list from CitEc
Citations: View citations in EconPapers (6) Track citations by RSS feed

Downloads: (external link)
http://pages.jh.edu/jrer/papers/pdf/past/vol11n02/v11p159.pdf Full text (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:jre:issued:v:11:n:2:1996:p:159-182

Ordering information: This journal article can be ordered from
Diane Quarles American Real Estate Society Manager of Member Services Clemson University Box 341323 Clemson, SC 29634-1323
http://pages.jh.edu/jrer/about/get.htm

Access Statistics for this article

Journal of Real Estate Research is currently edited by Dr. Ko Wang

More articles in Journal of Real Estate Research from American Real Estate Society American Real Estate Society Clemson University School of Business & Behavioral Science Department of Finance 401 Sirrine Hall Clemson, SC 29634-1323.
Bibliographic data for series maintained by JRER Graduate Assistant/Webmaster ().

 
Page updated 2020-10-11
Handle: RePEc:jre:issued:v:11:n:2:1996:p:159-182