Managing Real Estate Investments: A Review of International Concepts and Definitions

Abstract

Despite its evident importance for a profitable investment in real estate, there are no clear-cut definitions of management tasks in real estate to date. This article reviews the existing definitions and attempts to develop a unified framework that integrates the disparate definitions in an international perspective. It sets out to describe the scope of real estate management tasks by drawing together evidence from both academic studies and current industry standards and practices in an international perspective. The reviewed concepts include real estate portfolio management, real estate investment management, real estate asset management corporate, private and public REM, facility management as well as property management.

Keywords: Real Estate Investment Management, Portfolio Management, International Real Estate

JEL Classification: R33, M19