Valuation and Sale-Price Comparison 2023
Research Paper
June 19, 2024
Preview
For mainstream financial asset classes, investment-performance measurement is based on transaction prices. In contrast, direct real estate is well known to be an illiquid and heterogeneous asset class. Real estate's heterogeneity results in volatility driven by sample composition between time periods. In our latest annual report, "Valuation and Sale-Price Comparison 2023," we compare valuations and sale prices in global real estate.
Global sale-price-to-valuation relationship, 2000 to 2023
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