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Effects of Financial Leverage on Real Estate Investments1

Property Finance, 2014, p.79-87

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Title:
Effects of Financial Leverage on Real Estate Investments1
Author: Mazza, Antonio ; Morri, Giacomo
Subjects: debt servicing costs ; financial leverage ; loan to value ratio ; real estate investments ; return generating process ; risk‐return ratio ; volatility
Is Part Of: Property Finance, 2014, p.79-87
Description: This chapter presents the effects of financial leverage on real estate investments. It examines the impact of financing on the risk‐return ratio as a function of two critical elements: the loan to value ratio; the difference between unlevered returns on investments and the debt servicing costs. The chapter clarifies the circumstances in which financial leveraging is appropriate, and provides some illustrations of the use of financial leverage. The conduct of the analyses carried out in the chapter implies the inclusion of certain assumptions for the purpose of simplification regarding the return generating process and recourse to financial leverage. Finally, the chapter provides a summary of the essential elements to be taken into account when using financial leverage.
Publisher: Chichester, UK: John Wiley & Sons, Ltd
Language: English
Identifier: ISBN: 1118764404
ISBN: 9781118764404
EISBN: 1118764315
EISBN: 9781118764312
DOI: 10.1002/9781118764312.ch5
Source: Ebook Central Academic Complete

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