Citation
Newell, G. (2016), "Guest editorial", Journal of Property Investment & Finance, Vol. 34 No. 1. https://doi.org/10.1108/JPIF-10-2015-0069
Publisher
:Emerald Group Publishing Limited
Guest editorial
Article Type: Guest editorial From: Journal of Property Investment & Finance, Volume 34, Issue 1.
The emerging real estate markets have taken on increased importance with international real estate investors in recent years. This has reflected the strong economic growth, investment opportunities, improved real estate market transparency and the establishment of REIT markets in many of these emerging real estate markets. While China and India may have been the focus of these emerging markets, other emerging markets in Africa, Latin America, Asia and Eastern Europe will also experience significant growth moving forward.
These emerging real estate markets are expected to be the focus of future global real estate market growth, seeing their global market share increasing significantly over the next ten years. This will see many investors seeking exposure to both the developed real estate markets and the emerging real estate markets in achieving their global real estate portfolio diversification strategy.
Whilst this context provides unique investment opportunities, it also highlights the challenges of real estate investment in these emerging real estate markets. Specific issues such as access to reliable real estate information for decision making, local market knowledge and access to skilled real estate professionals are part of this landscape of challenges in the emerging real estate markets.
The emerging real estate markets are the focus of this special issue of JPIF. The five papers in this special issue have highlighted key research issues in the emerging real estate markets in Africa, CEE and Asia. The research implications clearly go beyond the specific real estate markets to the broader research issues for emerging markets globally.
These papers have provided an excellent research platform for increasing our understanding of the emerging real estate markets. I encourage other real estate researchers to expand their research agendas to include the emerging real estate markets. Often this will involve unique real estate research issues, mentoring colleagues in the emerging markets, as well as increasing your understanding of the international emerging real estate markets.
Professor Graeme Newell - Department of Economics, Finance and Property, University of Western Sydney, South Penrith, Australia