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Paper: eres2005_155
| Paper title: | Real Estate Portfolio Size and Risk Reduction |
| Authors: | Devaney, Steven and Stephen Lee |
| Summary: | Risk diversification is important to all investors. However, commercial real estate investors in the UK tend to concentrate their holdings in relatively few properties; as a consequence they are vulnerable to significant risk of underperforming the overall market or a target rate of return. Given the potentially high risk of owning only a few properties, we follow de Vassal (2001) and examine the return/risk benefits of holding more properties in a portfolio. The analysis uses Monte Carlo techniques to simulate total returns of real estate portfolios with varying numbers of properties using individual property data over the period 1994-2003. |
| Type: | normal paper |
| Year of publication: | 2005 |
| Series: | ERES:conference |
| Download paper: | |
| Citation: | Devaney, Steven and Stephen Lee (2005). Real Estate Portfolio Size and Risk Reduction. Book of Abstracts: 2005 European Real Estate Society conference in association with the International Real Estate Society, http://itc.scix.net/paper/eres2005_155 |
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