Please use this identifier to cite or link to this item: https://doi.org/10.1111/j.1080-8620.2004.00097.x
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dc.titleAre there investor clienteles in rental housing?
dc.contributor.authorWood, G.A.
dc.contributor.authorTu, Y.
dc.date.accessioned2013-10-14T05:13:11Z
dc.date.available2013-10-14T05:13:11Z
dc.date.issued2004
dc.identifier.citationWood, 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
dc.identifier.issn10808620
dc.identifier.urihttp://scholarbank.nus.edu.sg/handle/10635/46305
dc.description.abstractThe 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.
dc.description.urihttp://libproxy1.nus.edu.sg/login?url=http://dx.doi.org/10.1111/j.1080-8620.2004.00097.x
dc.sourceScopus
dc.typeReview
dc.contributor.departmentREAL ESTATE
dc.description.doi10.1111/j.1080-8620.2004.00097.x
dc.description.sourcetitleReal Estate Economics
dc.description.volume32
dc.description.issue3
dc.description.page413-436
dc.identifier.isiut000223627500004
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