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Langfristige Diversifikationseffekte an den internationalen Immobilienaktienmärkten

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  • Schindler, Felix

Abstract

Durch ihre Standortgebundenheit unterliegen Immobilien im Gegensatz zu anderen Vermögensgütern verstärkt lokalen, regionalen sowie nationalen Einflüssen und Risiken Daher ist aus portfoliotheoretischen Gesichtspunkten gerade bei Immobilieninvestitionen eine internationale Diversifikation der Risiken anzustreben. Sowohl für den institutionellen als auch für den privaten Anleger wirft die globale Ausrichtung eines Immobilienportfolios allerdings die Frage auf, über welche Märkte langfristig die größte Risikodiversifikation erreicht werden kann. Weniger geeignet sind dabei Märkte, die langfristig einen gemeinsamen Trend mit anderen Immobilienaktienmärkten besitzen.

Suggested Citation

  • Schindler, Felix, 2009. "Langfristige Diversifikationseffekte an den internationalen Immobilienaktienmärkten," ZEW Wachstums- und Konjunkturanalysen, ZEW - Leibniz Centre for European Economic Research, vol. 12(3), pages 6-7.
    • Handle: RePEc:zbw:zewwka:126007
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    References listed on IDEAS

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    3. Schindler, Felix, 2009. "Long-term benefits from investing in international real estate," ZEW Discussion Papers 09-023, ZEW - Leibniz Centre for European Economic Research.
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