Real Estate Investment Trusts
While the first REITs, as we know them today, were only created in 1961, after the promulgation of the Real Estate Investment Trust Act (Bailey, 1966), the current real estate investment trusts (REITs) originated from the business trust that first appeared in Massachusetts around 1850. The great market success of REITs can be ascribed to their low correlation with the performance of other financial instruments (mainly bonds and shares) and the link between their performance and that of direct real estate investments (Giliberto, 1990).
KeywordsReal Estate Real Estate Market Real Estate Investment Trust Real Estate Investment Real Estate Sector
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