Property Portfolio Management
An Introduction
Published on 3. October 1991
Book
Hardback
336 pages
978-0-415-05123-1 (ISBN)
Description
Property portfolio management can be a highly specialized business. The wide variety of possible land interests, the fact that property has no central marketplace as an investment medium, and the high level of secrecy that often surrounds property deals mean that investing in property is very risky for the unwary and untrained. This introductory text on property portfolio management focuses specifically on the investment context of property transactions. Analyzing methods of appraisal, creation, risk and returns for both individual investments and full portfolios; examining the involvement of major investors in the property market; exploring various strategies for managing investment property; and discussing trends in both national and international arenas, "Property Portfolio Management" is aimed at those who seek to maximize return and minimize risk in this uncertain environment with its concise comparisons of options available to the investor. This book should be of interest to students and professionals in the fields of property, estate management, development economics, surveying and investment analysis.
More details
Language
English
Place of publication
London
United Kingdom
Target group
College/higher education
Dimensions
Height: 234 mm
Width: 156 mm
Weight
570 gr
ISBN-13
978-0-415-05123-1 (9780415051231)
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Schweitzer Classification
Content
Chapter One Introduction The Nature of Investment Investment Qualities Investment Media The Balanced Portfolio Summary Chapter Two Introduction Definitions Characteristics of the Property Market The Valuation of Property Interests Rent and Rental Growth Yield Determinants Investment Characteristics of Property Indirect Property Investment Summary Chapter Three Introduction Portfolio Mix Property Types Summary Chapter Four Introduction 1945-50: The First Post-War Reconstruction 1950-64: Conservative Governments and the Rise of the Post-War Property Millionaires 1964-74: The Boom Years and the Property Crash The Collapse of the Property Market 1974-79: Recovery and the Rebuilding of Confidence 1979-87: The Thatcher Government and the Second Post-War Boom 1987-88:The October 1987 Stock Market Crash and Aftermath Chapter Five Introduction The Institutional Invester The Data Required Methods of Measurement Critique and Application Target Rates of Return Real Returns Comparison with Stock Market Indices Conclusion Chapter Six Introduction Risk: A Definition Types of Risk Risk and the Individual Investment Summary Chapter Seven Introduction Portfolio Theory Modern Portfolio Theory The Capital Asset Pricing Model (CAPM) Use of Capital Asset Pricing Model Application of CAPM to Property Conclusion Chapter Eight Introduction Management Styles Leasing Patterns The FRI Lease - Advantages and Disadvantages Commercial Lease Management Conclusion Chapter Nine Introduction Acquisition Policy Performance Identification Performance Improvement Disinvestment Policy Summary Chapter Ten The Appraisal - Principles The Timing of Development and Redevelopment The Appraisal in Detail Critique of the Outline Appraisal Incentives for Involvement Chapter Eleven Introduction Funding Traditional Forms of Property Funding Examples of Development Funding Partnership Schemes in Local Authorities Partnership Schemes with Major Retailers The Management of the Development Process Chapter Twelve Introduction Indicators of Change Tenure Patterns The Use of Quantitative Measurement Techniques Investment Vehicles Conclusion.