European Economic Integration and Commercial Real Estate Markets: An Analysis of Trends in Market Determinants
Economic theory predicts economic integration in the European Community (EC) will result in single markets for individual goods, services and factors of production. The specific characteristics of commercial real estate make it unlikely that a single market will result. However, even without a single market, theory predicts that markets for similar real estate (commercial office, industrial and retail) will converge as a result of economic integration. This paper examines several market determinants to see if we can find evidence of the predicted convergence. Looking at data from 1983 to 1994 we find evidence of some convergence but the extent is small and major institutional differences within the countries remain. Implications are that barriers to the efficient flow of investment funds into real estate remain and distinct markets will continue to characterize real estate within the EC.
Volume (Year): 11 (1996)
Issue (Month): 2 ()
|Contact details of provider:|| Postal: American Real Estate Society Clemson University School of Business & Behavioral Science Department of Finance 401 Sirrine Hall Clemson, SC 29634-1323|
Web page: http://www.aresnet.org/
|Order Information:|| Postal: Diane Quarles American Real Estate Society Manager of Member Services Clemson University Box 341323 Clemson, SC 29634-1323|
Web: http://pages.jh.edu/jrer/about/get.htm Email:
When requesting a correction, please mention this item's handle: RePEc:jre:issued:v:11:n:2:1996:p:159-182. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (JRER Graduate Assistant/Webmaster)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.