Please use this identifier to cite or link to this item:
|Title:||Are there investor clienteles in rental housing?||Authors:||Wood, G.A.
|Issue Date:||2004||Citation:||Wood, G.A., Tu, Y. (2004). Are there investor clienteles in rental housing?. Real Estate Economics 32 (3) : 413-436. ScholarBank@NUS Repository. https://doi.org/10.1111/j.1080-8620.2004.00097.x||Abstract:||The possible existence of investor clientele groups has received little attention in the real estate finance literature. In this paper we develop a clientele model, which in equilibrium produces a clustering of investors by tax characteristics. Low-tax-bracket investors are concentrated in low-value rental housing that attracts rents which are high in relation to property values. On the other hand, only high-tax-bracket investors will be observed in high-value rental housing, and they charge rents that are low in relation to property values. An empirical model is specified and estimated using a cross section of investors in Australian private rental housing markets. Investor clienteles are detected among property investors, though there is a weak diversification effect indicating that clientele effects may be stronger among single property investors.||Source Title:||Real Estate Economics||URI:||http://scholarbank.nus.edu.sg/handle/10635/46305||ISSN:||10808620||DOI:||10.1111/j.1080-8620.2004.00097.x|
|Appears in Collections:||Staff Publications|
Show full item record
Files in This Item:
There are no files associated with this item.
checked on Feb 21, 2020
WEB OF SCIENCETM
checked on Feb 14, 2020
checked on Feb 18, 2020
Items in DSpace are protected by copyright, with all rights reserved, unless otherwise indicated.