TY - CONF T1 - Is there Convergence between the Brics and International Securitized Property Markets? T2 - Integrating the African Real Estate Market – An Agenda: the 18th AfRES Conference Y1 - 2018 A1 - O. Akinsomi A1 - Y. Coskun A1 - L. A. Gil-Alana A1 - O. S. Yaya AB -

The BRICS market represents high growth economies. This paper empirically examines the long-run equilibrium as well as the short-run linkages between the BRICS securitized property markets and the securitized property markets in developed countries (United States, Australia and the United Kingdom). We employ fractional co-integration techniques between the BRICS property markets and the 3 developed property markets. This paper tests the hypothesis of fractional integration, our results showed no evidence of co-integration between BRICS securitized property markets and the securitized property markets of any of the developed economies in the long run, while the result only indicated that the BRICS securitized property markets is influenced by the developed economies in the short run. The implications of this study show that a portfolio of developed securitized property markets is diversifiable when added into a portfolio of BRICS securitized property markets. This is particularly significant for investors and fund analysts in other to reduce portfolio risks.

JA - Integrating the African Real Estate Market – An Agenda: the 18th AfRES Conference T3 - AfRES PB - African Real Estate Society CY - Abeokuta, Ogun State, Nigeria J1 - AfRES 2018 ID - oai:afres.id:afres2018_113 M3 - 10.15396/afres2018_113 ER -