Please use this identifier to cite or link to this item: https://hdl.handle.net/1822/5077

TitleA survey on asset allocation in the portuguese real estate market
Author(s)Vasques, F.
Teixeira, José M. Cardoso
Brandão, Elísio
KeywordsAsset allocation
Decision making
Real estate
Issue date2005
PublisherUniversidade de Lisboa. Instituto Superior Técnico (IST)
CitationINTERNATIONAL CONFERENCE ON INFORMATION AND KNOWLEDGE MANAGEMENT IN A GLOBAL ECONOMY AND CIB W102 ANNUAL MEETING, 1, Lisboa, 2005 - "International Conference on information and Knowledge in a Global Economy CIB W102-2005". Lisboa : Instituto Superior Técnico, 2005.
Abstract(s)Most important academic theoretical developments in finance and investment have been transferred to widespread practical use, especially in the more efficient securities markets. Real estate investment research has followed these developments, with a lag of about 20 years, but to some extent, common practice of asset allocation in a property portfolio still relies a lot on a qualitative and subjective personal judgment. To assess the reality and extent of this situation among the institutional property investors operating in the Portuguese market, a study based on a survey among a reference group of managers of large real estate portfolios was developed. This includes real estate fund management societies, pension funds and significant real property investment companies. The survey covers management decision-making practices, use of specific information, indices and databases, the role of appraisal, and the use of quantitative models regarding performance measurement, benchmarking and optimization of asset allocation. The aim is to establish the real gap between theory and practice. Research design is presented and justified against economic reality, and recent related and similar studies.
TypeConference paper
URIhttps://hdl.handle.net/1822/5077
Peer-Reviewedyes
AccessOpen access
Appears in Collections:CEC-GTC - Comunicações a Conferências Internacionais

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