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Financial Characteristics of International Real Estate Returns: Evidence from the UK, US, and Germany

URN to cite this document:
Maurer, Raimond ; Reiner, Frank ; Sebastian, Steffen P.
Date of publication of this fulltext: 05 Aug 2009 13:51


In contrast to the United States and the United Kingdom, little empirical work exists about the distributional characteristics of appraisalbased real estate returns outside these countries. The purpose of this study is to fill this gap by focusing on Germany. In line with other studies, this paper offers an extensive investigation into the distribution of German real estate returns and compares ...


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