The Evolving European Real Estate Research Agenda

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The Evolving European Real Estate Research Agenda
A Seventeen Year Retrospective

• Éamonn DArcy
• School of Real Estate and Planning, University of
  Reading
• Paloma Taltavull de La Paz
• University of Alicante

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Introduction

• This papers examines the evolving European real
  estate research agenda over the past seventeen
  years
• Analysis based on over two thousand eight hundred
  individual conference contributions made at the
  annual conferences of the European Real Estate
  Society over the period 1993-2010
• Objectives
• To assess the extent to which the evolving
  research agenda reflects the process of
  structural change which has taken place in the
  European Real Estate Sector in the same time
  period
• To provide a benchmark of how the European
  research agenda has evolved overtime and to use
  this as a means of comparing the European
  experience with that in other regions

3
Market Contexts

• Internationalisation of European Real Estate
  Markets
• Shifting Geographic Orientation, Activity
  Internationalisation, Economic and Monetary
  Integration
• Changing Sophistication of Real Estate Asset
  Markets
• the fundamental characteristics of
  non-residential real estate investment markets in
  Europe have undergone significant changes
• expanded range of actors and menu of product
  choices
• shift from direct to indirect modes
• revolution in performance information
• unparallel growth in investment volumes
• shift from domestic towards cross-border
  strategies
• evolution of debt markets
• Impacts of the Information Economy
• Changing Place and Space Strategies

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Market Contexts

• Real Estate and Public Policy
• Urban regeneration
• Sustainability
• Housing Policy
• Significant Expansion in the Provision of Real
  Estate Education in Europe
• Many new Requirements for Real Estate Research
  and Analysis

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Data

• Data set constructed from The ERES Annual
  Conference Programmes and Books of Abstracts
  1994-2009
• Data also includes the ERES pre-conference held
  in Reading in 1993
• Data also includes no-shows
• Papers Subject Classification based on
  combination of Title, Abstract and Session
  Presented
• 7 Primary and 28 Secondary Subject
  Classifications made

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Table 1 Primary and Secondary Classification of Research Topics
Housing
HOUSING POLICY
HOUSING MARKET
HOUSING FINANCE
MORTGAGE MARKETS
HOUSING PRICE INDEX/ REAL ESTATE PRICE INDEX
Valuation
Investment and Finance
FINANCE AND INVESTMENT
INVESTMENT TRUST - REITS
PERFORMANCE RISK MEASUREMENT
Economics, Markets and Analysis
INTERNATIONAL MARKETS
MARKET ANALYSIS
REAL ESTATE MARKETS
QUANTITATIVE ANALYSIS OF REAL ESTATE
LAND ECONOMICS
EMERGING MARKET
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Table 1(Contd) Primary and Secondary Classification of Research Topics
Urban Planning, Development Law and Sustainability
ENVIRONMENT AND BUILDINGS
PLANNING, REGENERATION
REAL ESTATE SOCIETY
REAL ESTATE DEVELOPMENT
PROPERTY RIGHTS / LEGAL REGULATIONS
Education-Professional Development
EDUCATION AND RESEARCH
REAL ESTATE EXPERTS/PROFESSIONALS
ETHICS
CRE-Property and Management
IT AND REAL ESTATE
CRE/USE AND OCCUPATION
REAL ESTATE MANAGEMENT
CORPORATE REAL ESTATE
REAL ESTATE MARKETING
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Table 2 Research Contributions by Year and Category Table 2 Research Contributions by Year and Category Table 2 Research Contributions by Year and Category Table 2 Research Contributions by Year and Category Table 2 Research Contributions by Year and Category Table 2 Research Contributions by Year and Category Table 2 Research Contributions by Year and Category Table 2 Research Contributions by Year and Category
Contribution Category Contribution Category Contribution Category Contribution Category Contribution Category Total
Doctoral Paper Research Paper Panel Keynote Plenary
1993 READING, UK 0 24 0 0 0 24
1994 AMSTERDAM, The Netherlands 0 41 0 0 2 43
1995 STOCKHOLM, Sweden 0 98 6 0 0 104
1996 BELFAST, UK 0 68 2 0 0 70
1997 BERLIN, Germany 0 96 1 3 0 100
1998 MAASTRICHT, The Netherland 0 105 2 0 1 108
1999 ATHENS, Greece 7 101 8 2 1 119
2000 BORDEAUX, France 0 124 0 0 4 128
2001 ALICANTE, Spain 9 191 7 2 2 211
2002 GLASGOW, UK 0 144 3 0 0 147
2003 HELSINKI, Finland 8 190 3 1 3 205
2004 MILAN, Italy 13 208 0 0 5 226
2005 DUBLIN, Ireland 19 272 1 0 1 293
2006 WEIMAR, Germany 7 227 11 0 2 247
2007 LONDON, UK 19 295 3 0 0 317
2008 KRAKOW, Poland 17 207 5 0 0 229
2009 STOCKHOLM, Sweden 31 269 6 0 0 306
130 2660 58 8 21 2877
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Table 3 Ranking of Research Papers by Country of Origin of First Author - Top Twelve Table 3 Ranking of Research Papers by Country of Origin of First Author - Top Twelve Table 3 Ranking of Research Papers by Country of Origin of First Author - Top Twelve Table 3 Ranking of Research Papers by Country of Origin of First Author - Top Twelve Table 3 Ranking of Research Papers by Country of Origin of First Author - Top Twelve Table 3 Ranking of Research Papers by Country of Origin of First Author - Top Twelve Table 3 Ranking of Research Papers by Country of Origin of First Author - Top Twelve Table 3 Ranking of Research Papers by Country of Origin of First Author - Top Twelve Table 3 Ranking of Research Papers by Country of Origin of First Author - Top Twelve Table 3 Ranking of Research Papers by Country of Origin of First Author - Top Twelve Table 3 Ranking of Research Papers by Country of Origin of First Author - Top Twelve Table 3 Ranking of Research Papers by Country of Origin of First Author - Top Twelve Table 3 Ranking of Research Papers by Country of Origin of First Author - Top Twelve Table 3 Ranking of Research Papers by Country of Origin of First Author - Top Twelve Table 3 Ranking of Research Papers by Country of Origin of First Author - Top Twelve Table 3 Ranking of Research Papers by Country of Origin of First Author - Top Twelve Table 3 Ranking of Research Papers by Country of Origin of First Author - Top Twelve Table 3 Ranking of Research Papers by Country of Origin of First Author - Top Twelve Table 3 Ranking of Research Papers by Country of Origin of First Author - Top Twelve
Year 93 94 95 96 97 98 99 00 01 02 03 04 05 06 07 08 09 Total
UK 18 14 22 27 31 26 39 40 46 57 62 50 81 37 74 45 52 721
GERMANY 1 0 2 2 29 2 3 2 12 8 17 22 32 68 37 38 36 311
THE NETHERLANDS 2 0 2 4 2 9 5 7 10 6 10 11 20 0 26 22 25 161
USA 2 4 10 3 4 24 3 4 9 10 11 14 18 11 15 7 9 158
AUSTRALIA 0 0 5 4 2 4 11 11 6 9 8 10 11 8 18 17 18 142
SPAIN 0 0 0 1 3 4 8 5 36 7 6 11 7 4 4 6 4 106
ITALY 0 1 0 0 0 0 2 3 6 2 3 30 9 2 7 9 9 83
POLAND 0 2 1 2 3 2 1 2 3 4 5 7 8 8 11 14 10 83
SINGAPORE 0 0 1 0 1 5 4 6 5 8 10 8 16 6 6 0 6 82
FRANCE 0 0 0 0 0 0 1 17 7 4 6 8 6 4 8 4 8 73
FINLAND 0 1 6 0 1 0 2 3 10 6 11 5 4 3 6 3 7 68
SWEDEN 0 0 12 1 1 1 1 1 2 1 13 4 5 1 1 1 18 63
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Table 4 Research Leadership The Top Twelve Institutions by papers presented (First Author) Over Time Table 4 Research Leadership The Top Twelve Institutions by papers presented (First Author) Over Time Table 4 Research Leadership The Top Twelve Institutions by papers presented (First Author) Over Time Table 4 Research Leadership The Top Twelve Institutions by papers presented (First Author) Over Time Table 4 Research Leadership The Top Twelve Institutions by papers presented (First Author) Over Time Table 4 Research Leadership The Top Twelve Institutions by papers presented (First Author) Over Time Table 4 Research Leadership The Top Twelve Institutions by papers presented (First Author) Over Time Table 4 Research Leadership The Top Twelve Institutions by papers presented (First Author) Over Time Table 4 Research Leadership The Top Twelve Institutions by papers presented (First Author) Over Time Table 4 Research Leadership The Top Twelve Institutions by papers presented (First Author) Over Time Table 4 Research Leadership The Top Twelve Institutions by papers presented (First Author) Over Time Table 4 Research Leadership The Top Twelve Institutions by papers presented (First Author) Over Time Table 4 Research Leadership The Top Twelve Institutions by papers presented (First Author) Over Time Table 4 Research Leadership The Top Twelve Institutions by papers presented (First Author) Over Time Table 4 Research Leadership The Top Twelve Institutions by papers presented (First Author) Over Time Table 4 Research Leadership The Top Twelve Institutions by papers presented (First Author) Over Time Table 4 Research Leadership The Top Twelve Institutions by papers presented (First Author) Over Time Table 4 Research Leadership The Top Twelve Institutions by papers presented (First Author) Over Time Table 4 Research Leadership The Top Twelve Institutions by papers presented (First Author) Over Time Table 4 Research Leadership The Top Twelve Institutions by papers presented (First Author) Over Time
Rank Institution 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 Total
1 The University of Reading 7 3 3 4 9 7 10 5 8 6 11 13 16 12 11 8 8 141
2 National University of Singapore 0 0 1 0 0 5 4 6 5 8 9 8 16 6 6 0 5 79
3 Oxford Brookes University 0 2 4 2 0 0 1 1 1 4 4 5 6 4 6 7 1 48
4 Delft University of Technology 0 1 0 0 0 0 1 1 4 3 1 0 8 8 5 8 4 44
5 University of Aberdeen 0 0 1 4 5 4 3 3 2 3 4 2 3 0 4 1 3 42
6 Royal Institute of Technology 0 0 8 0 1 1 1 0 0 1 10 3 1 0 1 1 13 41
7 University of Ulster 0 1 1 2 2 1 2 7 2 4 2 2 2 3 2 2 4 39
8 European Business School 0 0 0 1 0 1 1 0 2 1 2 6 14 3 2 2 2 37
9 University of Western Sydney 0 0 2 1 0 0 2 3 2 2 3 3 3 4 4 4 4 37
10 University of Regensburg 0 0 0 0 0 0 0 1 0 0 0 0 4 4 12 9 6 36
11 University of Alicante 0 0 0 1 1 1 6 1 5 2 2 3 4 2 2 2 2 34
12 University of Glasgow 0 0 2 0 1 2 5 2 1 2 3 3 4 0 4 2 2 33
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Concluding Remarks

• Changes in research contributions overtime
  broadly reflect the process of structural change
  in European Real Estate Markets
• Significant Growth in Contributions from
  Continental Europe
• Growth in European Doctoral Community
• Research Leadership still relatively confined to
  a small number of institutions
• Growth in Research Cooperation fostering well
  networked research community

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Issues Going Forward

• Conversion of Conference Papers to Publications
• Changing Formats Focus on Presentation over
  Paper
• The Mix Panels Symposiums Papers Posters
• ERES Doctoral Network