Examines diversification focusing on international and cross‐border investment. Extends the concept of regional diversification to European planning regions and discusses the potential implications of a “Europe of the regions” on property investment. Uses cross‐sectional analysis to identify the criteria influencing property investment performance across a number of European cities. Model outcomes indicate the importance of local factors in particular market size. Also provides, in this analysis support to the hypothesis concerning linkages between real estate returns, GDP and employment characteristics.
Journal of Property Valuation and Investment – Emerald Publishing
Published: Oct 1, 1997
Keywords: Diversification; Foreign investment; Investment property; Modelling; Western Europe