Abstract
There has been much academic debate on the effectiveness of intra-asset diversification and on how to optimally apply it. Sectorial provenience and the location of real estate assets were initially the most valid segments for an efficient diversification (Miles and McCue, 1982). By this time, more sophisticated methods had been elaborated to provide a better segmentation, expanding the possibilities of intra-asset diversification. In particular, concerning the geographical segmentation, it had been proposed that regions — or urban areas — classified according to economic function might form a basis for a more effective risk management strategy (Lee and Byrne, 1998).
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© 2013 Gianluca Mattarocci and Georgios Siligardos
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Mattarocci, G., Siligardos, G. (2013). Real Estate Trends and Portfolio Rebalancing: Evidence from Main European Markets. In: Carretta, A., Mattarocci, G. (eds) Asset Pricing, Real Estate and Public Finance over the Crisis. Palgrave Macmillan Studies in Banking and Financial Institutions. Palgrave Macmillan, London. https://doi.org/10.1057/9781137293770_10
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DOI: https://doi.org/10.1057/9781137293770_10
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