Risk reduction and real estate portfolio sizeLee, S. L. and Byrne, P. J., (1999) Risk reduction and real estate portfolio size. Working Papers in Land Management & Development. 08/99. Working Paper. University of Reading, Reading. pp16.
It is advisable to refer to the publisher's version if you intend to cite from this work. See Guidance on citing. Abstract/SummaryDespite a number of papers that discuss the advantages of increased size on risk levels in real estate portfolios there is remarkably little empirical evidence based on actual portfolios. The objective of this paper is to remedy this deficiency by examining the portfolio risk of a large sample of actual property data over the period 1981 to 1996. The results show that all that can be said is that portfolios of properties of a large size, on the average, tend to have lower risks than small sized portfolios. More importantly portfolios of a few properties can have very high or very low risk.
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