A CONTINGENT ASSET PRICING MODEL OF REAL ESTATE ASSETS

Attila Balaton

ERES from European Real Estate Society (ERES)

Abstract: This paper explores the merits of using an alternative approach to modelling commercial real estate prices over time. A real estate asset can effectively be modelled as a hybrid instrument combining a bond and options. Preliminary results of tests for two different option pricing models are presented (Central Paris and Central London office markets).

JEL-codes: R3 (search for similar items in EconPapers)
Date: 2000-06-01
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Persistent link: https://EconPapers.repec.org/RePEc:arz:wpaper:eres2000_005

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