Can listed property shares be a surrogate for direct property investment behaviour?

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dc.contributor.author Boshoff, Douw Gert Brand
dc.contributor.author Cloete, C.E. (Christiaan Ernst)
dc.date.accessioned 2012-05-25T07:56:34Z
dc.date.available 2012-05-25T07:56:34Z
dc.date.issued 2012
dc.description.abstract The listed property sector in South Africa has grown to a size which could be considered to be a good representation of the income producing property market in general. Stock market listed property investment funds offer the opportunity to compare indirect property investment to direct property investment, which could bridge the gap between irrational investment behaviour and intrinsic asset values. This study investigates the relationship between listed property share prices and the property values in listed property funds. The share prices are correlated with various factors, such as the accounting ratios of the companies, the financial statements of the companies and general economic variables. The outcome of the study is an explanation of the behaviour of listed property shares, and its relationship to the direct property market and the general economy. This would assist in the explanation of market behaviour and provides the opportunity to more accurately predict portfolio asset values, which might be used in the valuation of individual real estate assets. en_US
dc.description.librarian ai2012 en
dc.description.uri http://www.sajems.org/index.php/sajems en_US
dc.identifier.citation Boshoff, D & Cloete, C 2012, 'Can listed property shares be a surrogate for direct property investment behaviour?', South African Journal of Economic and Management Sciences, vol. 15, no. 1, pp. 72-93. en_US
dc.identifier.issn 1015-8812 (print)
dc.identifier.issn 2222-3436 (online)
dc.identifier.uri http://hdl.handle.net/2263/18883
dc.language.iso en en_US
dc.publisher Department of Economics, University of Pretoria en_US
dc.rights Creative Commons license en_US
dc.subject Property demand en_US
dc.subject Property values en_US
dc.subject Macro-economic property variables en_US
dc.subject Construction demand en_US
dc.subject.lcsh Real estate investment -- South Africa en
dc.subject.lcsh Real estate business -- South Africa en
dc.subject.lcsh Options (Finance) -- South Africa en
dc.title Can listed property shares be a surrogate for direct property investment behaviour? en_US
dc.type Article en_US


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