Real Options Valuation : an application to the portuguese real estate market

Bibliographic Details
Main Author: Oliveira, Carla
Publication Date: 2008
Other Authors: Couto, Gualter, Pimentel, Pedro
Format: Article
Language: eng
Source: Repositórios Científicos de Acesso Aberto de Portugal (RCAAP)
Download full: http://hdl.handle.net/10400.3/4813
Summary: The contribution of real options analysis on the valuation of Portuguese undeveloped building sites is significant on the decision making regarding the apartment-buildings construction. Using the options model developed by Quigg (1993), and including the necessary readjustments for the Portuguese market, it was found that the scale price elasticity parameter and construction expenditures’ elasticity of scale parameter had a strong impact on building sites’ values. The empirical analysis revealed that the option to defer adds value to undeveloped building sites’ valuations. This fact cannot be ignored when deciding upon an investment’s implementation.
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spelling Real Options Valuation : an application to the portuguese real estate marketOptimal TimingReal EstateReal OptionsThe contribution of real options analysis on the valuation of Portuguese undeveloped building sites is significant on the decision making regarding the apartment-buildings construction. Using the options model developed by Quigg (1993), and including the necessary readjustments for the Portuguese market, it was found that the scale price elasticity parameter and construction expenditures’ elasticity of scale parameter had a strong impact on building sites’ values. The empirical analysis revealed that the option to defer adds value to undeveloped building sites’ valuations. This fact cannot be ignored when deciding upon an investment’s implementation.Universidade dos AçoresRepositório da Universidade dos AçoresOliveira, CarlaCouto, GualterPimentel, Pedro2018-09-17T09:22:20Z2008-062008-06-01T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articleapplication/pdfhttp://hdl.handle.net/10400.3/4813enginfo:eu-repo/semantics/openAccessreponame:Repositórios Científicos de Acesso Aberto de Portugal (RCAAP)instname:FCCN, serviços digitais da FCT – Fundação para a Ciência e a Tecnologiainstacron:RCAAP2025-03-07T10:03:37Zoai:repositorio.uac.pt:10400.3/4813Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireinfo@rcaap.ptopendoar:https://opendoar.ac.uk/repository/71602025-05-29T00:33:36.438450Repositórios Científicos de Acesso Aberto de Portugal (RCAAP) - FCCN, serviços digitais da FCT – Fundação para a Ciência e a Tecnologiafalse
dc.title.none.fl_str_mv Real Options Valuation : an application to the portuguese real estate market
title Real Options Valuation : an application to the portuguese real estate market
spellingShingle Real Options Valuation : an application to the portuguese real estate market
Oliveira, Carla
Optimal Timing
Real Estate
Real Options
title_short Real Options Valuation : an application to the portuguese real estate market
title_full Real Options Valuation : an application to the portuguese real estate market
title_fullStr Real Options Valuation : an application to the portuguese real estate market
title_full_unstemmed Real Options Valuation : an application to the portuguese real estate market
title_sort Real Options Valuation : an application to the portuguese real estate market
author Oliveira, Carla
author_facet Oliveira, Carla
Couto, Gualter
Pimentel, Pedro
author_role author
author2 Couto, Gualter
Pimentel, Pedro
author2_role author
author
dc.contributor.none.fl_str_mv Repositório da Universidade dos Açores
dc.contributor.author.fl_str_mv Oliveira, Carla
Couto, Gualter
Pimentel, Pedro
dc.subject.por.fl_str_mv Optimal Timing
Real Estate
Real Options
topic Optimal Timing
Real Estate
Real Options
description The contribution of real options analysis on the valuation of Portuguese undeveloped building sites is significant on the decision making regarding the apartment-buildings construction. Using the options model developed by Quigg (1993), and including the necessary readjustments for the Portuguese market, it was found that the scale price elasticity parameter and construction expenditures’ elasticity of scale parameter had a strong impact on building sites’ values. The empirical analysis revealed that the option to defer adds value to undeveloped building sites’ valuations. This fact cannot be ignored when deciding upon an investment’s implementation.
publishDate 2008
dc.date.none.fl_str_mv 2008-06
2008-06-01T00:00:00Z
2018-09-17T09:22:20Z
dc.type.status.fl_str_mv info:eu-repo/semantics/publishedVersion
dc.type.driver.fl_str_mv info:eu-repo/semantics/article
format article
status_str publishedVersion
dc.identifier.uri.fl_str_mv http://hdl.handle.net/10400.3/4813
url http://hdl.handle.net/10400.3/4813
dc.language.iso.fl_str_mv eng
language eng
dc.rights.driver.fl_str_mv info:eu-repo/semantics/openAccess
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
dc.publisher.none.fl_str_mv Universidade dos Açores
publisher.none.fl_str_mv Universidade dos Açores
dc.source.none.fl_str_mv reponame:Repositórios Científicos de Acesso Aberto de Portugal (RCAAP)
instname:FCCN, serviços digitais da FCT – Fundação para a Ciência e a Tecnologia
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instname_str FCCN, serviços digitais da FCT – Fundação para a Ciência e a Tecnologia
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reponame_str Repositórios Científicos de Acesso Aberto de Portugal (RCAAP)
collection Repositórios Científicos de Acesso Aberto de Portugal (RCAAP)
repository.name.fl_str_mv Repositórios Científicos de Acesso Aberto de Portugal (RCAAP) - FCCN, serviços digitais da FCT – Fundação para a Ciência e a Tecnologia
repository.mail.fl_str_mv info@rcaap.pt
_version_ 1833600593764024321

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