Please use this identifier to cite or link to this item: https://scholarbank.nus.edu.sg/handle/10635/220132
Title: CONTRARIAN REAL ESTATE INVESTMENT
Authors: QUEK LI YIN
Keywords: Real Estate
Addae-Dapaah Kwame
2010/2011 RE
Contrarian
Contrarian investment strategy
Issue Date: 19-Apr-2011
Citation: QUEK LI YIN (2011-04-19). CONTRARIAN REAL ESTATE INVESTMENT. ScholarBank@NUS Repository.
Abstract: Abstract The superiority of contrarian investment strategy on stocks is a well established fact in the finance literatures. As such, it would be useful to understand the implication of contrarian investment strategy on real estate. This study aims to examine the performance of contrarian strategies on real estate in Singapore. Empirical industrial real estate return data from 2000 Quarter 1 to 2010 Quarter 1 for Singapore was used to evaluate the relative superiority in the performance of value and growth industrial properties. The results show that value industrial properties investment produced superior returns as compared to growth industrial properties investment in the different holding periods (quarterly, 3 years, 5 years and more than 5 years). Risk based explanations for the superior returns to value strategies could not be rejected. In addition, it was observed that market participants tend to over-estimate future capital growth rates of growth properties relative to value properties. Keywords: Contrarian investment strategy, value properties, growth properties
URI: https://scholarbank.nus.edu.sg/handle/10635/220132
Appears in Collections:Bachelor's Theses

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