Real Estate Opportunities and Challenges

Colin A. Jones () and Edward Trevillion ()
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Colin A. Jones: Heriot-Watt University
Edward Trevillion: Heriot-Watt University

Chapter Chapter 12 in Real Estate Investment, 2022, pp 265-297 from Springer

Abstract: Abstract This chapter reviews the decades of change in the commercial real estate market since the turn of the millennium and the challenges and opportunities presented by this change. Some of the challenges and opportunities examined have spun out of the GFC and the need to re-examine risk assessment and valuations, but some, such as those relating to pension reform had been developing before the GFC. The chapter looks at these in detail but also examines some of the structural consequences of the GFC, the usefulness of transaction-based indices to monitor performance and the potential for using sustainable valuations, and their possible mitigating effects on bubbles when assessing new loans for property investment. It also looks at the opportunities arising from the use of AI and other new technology as well as examining the need to include behaviour in our models of the market. Finally, the chapter examines the emergence of alternative real estate assets to the traditional sectors and considers different ways of generating return from property. Alternative assets are an eclectic collection of asset types can be divided into two types: operational entities or trade related properties and social infrastructure. These are examined in detail.

Keywords: Pension reform and real estate investment; Global financial crisis; Sustainable valuations; Behaviour and property markets; Transactions-based indices; Market price indices; Alternative investments; Operational real estate; Prop tech; Use of information communication technologies; Artificial intelligence and blockchains (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-031-00968-6_12

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DOI: 10.1007/978-3-031-00968-6_12

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