South African Journal of Economic and Management Sciences
On-line version ISSN 2222-3436
Print version ISSN 1015-8812
BOSHOFF, Douw GB. Towards a listed real estate investment valuation model. S. Afr. j. econ. manag. sci. [online]. 2013, vol.16, n.3, pp.329-346. ISSN 2222-3436.
This paper presents a Listed Real Estate Investment Valuation Model that was developed to investigate the movement in indirect real estate investment through the consideration of the underlying assets of property loan stock companies. Specific reference is given to information that is made available to shareholders by way of annual financial statements in order to determine the extent to which shareholders can make investment decisions based on this information. The study enhances the knowledge of direct vs. indirect real estate investment behaviour and provides more insight into price discovery in the property sector.
Keywords : valuation models; indirect property; listed property; price discovery.