Real estate investing: market analysis, valuation techniques, and risk management
Gespeichert in:
| 1. Verfasser: | |
|---|---|
| Format: | Buch |
| Sprache: | English |
| Veröffentlicht: |
Cham [u.a.]
Springer
2015
|
| Schlagworte: | |
| Online-Zugang: | Inhaltsverzeichnis |
| Beschreibung: | VII, 210 S. graph. Darst. |
| ISBN: | 9783319063966 9783319360584 |
Internformat
MARC
| LEADER | 00000nam a2200000 c 4500 | ||
|---|---|---|---|
| 001 | BV041927209 | ||
| 003 | DE-604 | ||
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| 007 | t| | ||
| 008 | 140623s2015 xx d||| |||| 00||| eng d | ||
| 020 | |a 9783319063966 |9 978-3-319-06396-6 | ||
| 020 | |a 9783319360584 |9 978-3-319-36058-4 | ||
| 035 | |a (OCoLC)891084329 | ||
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| 100 | 1 | |a Manganelli, Benedetto |e Verfasser |4 aut | |
| 245 | 1 | 0 | |a Real estate investing |b market analysis, valuation techniques, and risk management |c Benedetto Manganelli |
| 264 | 1 | |a Cham [u.a.] |b Springer |c 2015 | |
| 300 | |a VII, 210 S. |b graph. Darst. | ||
| 336 | |b txt |2 rdacontent | ||
| 337 | |b n |2 rdamedia | ||
| 338 | |b nc |2 rdacarrier | ||
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| 943 | 1 | |a oai:aleph.bib-bvb.de:BVB01-027370605 | |
Datensatz im Suchindex
| _version_ | 1827020054071345152 |
|---|---|
| adam_text |
Contents
1
The Real Estate Market
.
í
1
.1
Generalities on Property
. 1
1.1.1
Economic Characteristics
. 2
1.1.2
Land-Use Regulations and Economic Effects
. 4
1.1.3
Extra-Economic Characteristics
. 5
1.1.4
The Real Estate Operators
. 5
1.2
The Nature of the Real Estate Market
. 8
1.2.1
An Imperfect Market
. 8
1.2.2
Segmentation
. 9
1.2.3
The Short and Long Period
. 11
1.2.4
Cycles in the Housing Market
. 12
1.2.5
Supply Classification
. 16
1.2.6
The Variables that Affect the Supply of Properties
. 16
1.2.7
Demand Classification
. 18
1.2.8
The Determinants of the Demand for Real Estate
. 18
1.2.9
The Sales Market
. 21
1.2.10
The Rental Market
. 27
References
. 30
2
The Market Research
. 33
2.1
The Usefulness of Research
. 33
2.2
The Availability of Data and the Sources
. 35
2.3
The Development of the Research
. 38
2.4
Reliability of the Research
. , 42
2.5
Costs and Benefits of Research
. 42
2.6
Defining the Market.
. 43
2.7
Analysis of Market Potential
. 44
References
. 51
vi
Contents
3
Financing
. 53
3.1
General Information on Financial Markets
. 53
3.2
The Leverage
. 54
3.2.1
The Measure of Leverage
. 56
3.2.2
How Much Finance?
. 57
3.3
Financing Costs
. 57
4
The Real Estate Investment
. 61
4.1
Features of the Property Investment
. 61
4.1.1
Classification of Investments
. 63
4.2
The Reasons for the Investment
. 63
4.2.1
Advantages and Disadvantages of Investment Property.
. . 64
4.2.2
The Value of Investments
. 67
4.2.3
Comparison with Other Types of Investment
. 69
References
. 70
5
Investors and Investment Strategies
. 71
5.1
Classification of Investors
. 71
5.2
The Behaviour of the Investor and the Risk Appetite
. 72
5.3
The Real Estate Development Process
. 74
5.4
Objectives and Strategy of the Investor
. 76
5.5
Choice of Type of Intervention and Location
. 79
5.6
The Decision-Making Process
. 84
5.6.
1 The Layout of a Pattern
. 84
5.6.2
The Feasibility Study
. 86
5.6.3
The Investment Value
. 94
References
. . ,. 96
6
Investment Evaluation
. 97
6.1
Introduction
. 97
6.2
Cash Flow Evaluation
. 98
6.2.1
Benefits and Future Building Value Evaluation
. 99
6.2.2
Operating and Management Expenses
. 102
6.2.3
Recovery Value
. 104
6.2.4
Financing Management
. 106
6.2.5
Evaluation of Construction Costs
. 107
6.3
Traditional Techniques for the Analysis of Profitability
. 109
6.3.1
Advantage Reports
. 109
6.3.2
Financial Measures
. 110
6.3.3
Measures of Profitability
. 1
і
7
6.3.4
The Limits of the Traditional Criteria of Profitability
. 120
Contents
vii
6.4 Modern
Techniques
for the Analysis of Profitability
. 121
6.4.1
Introduction to Discounted Cash-Flow Analysis
. 121
6.4.2
The Net Present Value
. 122
6.4.3
The Internal Rate of Return
. 124
6.4.4
Other Indicators
. 131
6.4.5
The Discount Rate
. 133
References
. 135
7
The Risk Analysis
.
І
37
7.1
The Variables and Risk Factors
. 137
7.2
The Analyst's Task
. 142
7.3
Risk Control
. 144
7.4
Traditional Methods for the Treatment of Risk
. 146
7.4.1
Risk-Adjusted Discount Rate
. 146
7.4.2
Certainty Equivalents
. 147
7.5
The Probabilistic Analysis
. 150
7.5.1
Partitioning and Sensitivity Analysis
. 151
7.5.2
Decision Tree Analysis
. 155
7.5.3
The Monte Carlo Simulation
. 160
7.6
Mathematical: Statistical Criteria
. 162
7.6.1
The Average-Variance Approach
. 177
7.6.2
The Expected Utility Theory
. 179
7.6.3
The Approach of Stochastic Dominance
. 183
7.6.4
Evaluation Based on Differentiated Assumptions
. 185
7.6.5
Mathematical Programming
. 185
7.7
Limits and Perspectives of Evaluation Techniques
. 186
References
. 188
8
The Theory of Real Options in Real Estate
. 189
8.1
Investment as a Generator of Real Options
. 190
8.2
The Development of the Process
. 193
8.3
Risk Analysis
. 193
8.4
The Process of Strategic Analysis
. 194
8.4.1
Identification of Areas of Managerial Adaptability
. 194
8.4.2
Identification of Options and Their Parameters
. 195
8.4.3
Verification of the Operating Conditions
. 200
8.4.4
The Process of Quantitative Analysis
. 203
8.4.5
The Calculation Models for Extended NPV
. 203
References
. 210 |
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| bvnumber | BV041927209 |
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| ctrlnum | (OCoLC)891084329 (DE-599)BVBBV041927209 |
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| id | DE-604.BV041927209 |
| illustrated | Illustrated |
| indexdate | 2025-03-19T11:01:41Z |
| institution | BVB |
| isbn | 9783319063966 9783319360584 |
| language | English |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-027370605 |
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| physical | VII, 210 S. graph. Darst. |
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| spelling | Manganelli, Benedetto Verfasser aut Real estate investing market analysis, valuation techniques, and risk management Benedetto Manganelli Cham [u.a.] Springer 2015 VII, 210 S. graph. Darst. txt rdacontent n rdamedia nc rdacarrier Immobilienanlage (DE-588)4120474-8 gnd rswk-swf Immobilienanlage (DE-588)4120474-8 s DE-604 Erscheint auch als Online-Ausgabe 978-3-319-06397-3 Digitalisierung UB Regensburg - ADAM Catalogue Enrichment application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=027370605&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Manganelli, Benedetto Real estate investing market analysis, valuation techniques, and risk management Immobilienanlage (DE-588)4120474-8 gnd |
| subject_GND | (DE-588)4120474-8 |
| title | Real estate investing market analysis, valuation techniques, and risk management |
| title_auth | Real estate investing market analysis, valuation techniques, and risk management |
| title_exact_search | Real estate investing market analysis, valuation techniques, and risk management |
| title_full | Real estate investing market analysis, valuation techniques, and risk management Benedetto Manganelli |
| title_fullStr | Real estate investing market analysis, valuation techniques, and risk management Benedetto Manganelli |
| title_full_unstemmed | Real estate investing market analysis, valuation techniques, and risk management Benedetto Manganelli |
| title_short | Real estate investing |
| title_sort | real estate investing market analysis valuation techniques and risk management |
| title_sub | market analysis, valuation techniques, and risk management |
| topic | Immobilienanlage (DE-588)4120474-8 gnd |
| topic_facet | Immobilienanlage |
| url | http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=027370605&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |
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