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Myth 4: “Real Estate operates in a bubble”
No it doesn’t.
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Myth 4 Intro
This is one in a series of debunking five common real estate myths; by challenging these myths we hope to provide clarity to enable you to make better real estate investment decisions.
Real estate is maturing rapidly, becoming an ever-larger share of investment portfolios. Being able to measure and compare your real estate portfolio with other asset classes is now not only preferable but essential, so decisions are set in the wider investment context.
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Insight across asset classes
Our expertise across asset classes – not just real estate – means you get the most complete perspective on your real estate risk and performance.
Macroeconomic impacts
Macroeconomic impacts
Climate risk
Accessing real estate exposure
The COVID-19 pandemic has emphasized more than ever how real estate is impacted in a similar way to other asset classes. This combined with the importance of contextualizing real estate risk and performance is why our research team is producing analysis on key themes such as how rising interest rates impact real estate investors and how real estate performance aligns with GDP growth as well as more traditional real estate specific topics.
Climate risk is a global problem affecting all types of investments meaning a consistent view across all asset classes and a coordinated approach across portfolios is key. Measuring real estate climate risk is a central piece of this puzzle where some of the biggest strides can be made to reduce emissions.
Real Estate Climate Value-at-Risk (Climate VaR) is designed to provide a forward-looking and return-based valuation assessment to measure climate related risks and opportunities in an investment portfolio.
The associated financial risks are calculated per scenario to provide a framework that helps investors both identify and understand their exposures across asset classes.
Real estate exposure can be gained through various holding structures and financial instruments; public vs private, direct vs indirect fund exposure, debt vs equity.
The interplay of these vehicles is a key focus for many investors as they make decisions on real estate allocations and want to better understand performance and risk drivers.
At MSCI we have the data, analytical tools and in-house expertise across all these areas with direct and indirect private real estate indexes as well as analytical models to measure and manage risk across all investments.
We also have listed real estate indexes and illiquid real estate indexes as part of our equity index business. Data from these indexes informed our Listed and Private Real Estate: Putting the Pieces Back Together research paper, which examines how equity market factors, financial structures and individual properties contribute to performance of both listed and private real estate and what insight can be derived from this analysis.
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