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Understanding the barriers to real estate investment in developing economies

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Baum, A. and Murray, C., (2011) Understanding the barriers to real estate investment in developing economies. Working Papers in Real Estate & Planning. 03/11. Working Paper. University of Reading, Reading. pp26.

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Abstract/Summary

Baum (2008a) related the number of real estate funds investing in developing economies to simple economic and demographic variables, and showed that, while the popularity of markets was explained by population and GDP per capita, some countries receive more or less investment than the model predicted. Why is this? In this paper we undertake a literature review to identify the barriers which inhibit international real estate investment. We test our initial findings by questioning property investment professionals through semi-structured interviews. By doing this we were able to verify our list of barriers, identify those barriers which are most likely to affect real estate investors, and to indicate whether there are any real estate-specific variables that create barriers which have not received any academic attention. We show that distortions in international capital flows may be explained by a combination of these formal and informal barriers.

Item Type:Report (Working Paper)
Divisions:Henley Business School > Real Estate and Planning
ID Code:26974
Publisher:University of Reading
Publisher Statement:The copyright of each working paper remains with the author. If you wish to quote from or cite any paper please contact the appropriate author; in some cases a more recent version of the paper may have been published elsewhere.

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