International equity REITs: five major future directions

Abstract

Purpose

The purpose of this paper is to analyze chapters from the recently published Routledge REITs Research Handbook to identify five major future directions for international equity REITs.

Design/methodology/approach

Literature review and critical analysis of chapters from the recently published Routledge REITs Research Handbook.

Findings

The five major future directions for international equity REITs are proposed to comprise an increasing focus on people and on cash flow rather than on property (with the cognitive risk attaching thereto), the changing nature of REITs as they respond to changes in society globally, the evolution of the global flagship REIT and the emergence of global regulation of REITs (particularly in the spheres of debt and leverage).

Research limitations/implications

While five major future directions for international equity REITs are identified which may have an impact on the risk/return profile, further research is required to determine which directions may be significant and which trivial and which may be independent and which interactive.

Practical implications

Identification of five major future directions for international equity REITs provides managers and promoters with guidance concerning potential areas of focus for future product development in the REIT sector.

Originality/value

While quantitative research concerning international equity REITS abounds, qualitative research is limited with little academic research undertaken into possible future directions for the sector.

Citation

Parker, D. (2020), "International equity REITs: five major future directions", Journal of Property Investment & Finance, Vol. 38 No. 1, pp. 71-81. https://doi.org/10.1108/JPIF-09-2019-0122