Staff
Professor Colin Lizieri
Position(s):
- Grosvenor Professor of Real Estate Finance
- Fellow of Pembroke College
- Fellow of the Royal Institution of Chartered Surveyors
- Fellow of the Royal Geographical Society
Contact information:
Tel.: +44 (0)1223 (3)37114
Email: cml49
Research interests:
- Financial innovation in real estate
- Modelling office markets
- International financial flows
Colin has published extensively in the fields of real estate finance and office market dynamics. He is a member of the Investment Property Forum research committee, has acted as an expert advisor and consultant to the European Union, the UK and Norwegian governments, the Corporation of London, the City of Toronto and numerous private sector organisations. He has appeared as an expert witness in the Lands Tribunal on real estate matters.
Some Current and Recent Research Projects
An investigation of international financial flow and the dynamics of office markets in global financial centres, following up work in his recent book, Towers of Capital, as part of European Union funded research on cities and competitiveness.
Research on asymmetries in real estate markets including analysis of office market rental adjustment asymmetries (with Professors Bryan MacGregor and Patric Hendershott) and modelling of asymmetries in commercial real estate performance measurement indices (with Professor Stephen Satchell) and on time varying relationships between property and equity markets (with Dr Jamie Alcock) part funded by the Investment Property Forum.
Analysis of the impact of debt and leverage on commercial real estate returns including survey work on the capital structure of European property companies and its impact on performance (with Andrew Baum and Jamie Alcock).
Publications:
Recent Publications:
Lizieri, C. (2011) Global Cities, Office Markets and Capital Flows in International Handbook of Globalization and World Cities, Derudder, B., Hoyler, M. & Taylor P. (editors), Edward Elgar
Yuo, S-T, Lizieri, C., McCann, P. And Crosby, N. (2011), Rental Values in UK Shopping Malls, Urban Studies, 48(8) 1667 - 1680
Crosby, N., Lizieri, C. and McAllister, P. (2010) Means, Motive and Opportunity? Disentangling Client Influence on Performance Measurement Appraisals, Journal of Property Research, 27(2), 181-201
Hendershott, P, Lizieri, C and MacGregor, B (2010) Asymmetric Adjustment in the London Office Market, Journal of Real Estate Finance and Economics, 41, 80-101.
Lizieri, C. (2009) Towers of Capital: Office Markets and International Financial Services Oxford: Wiley-Blackwell
Hoesli, M., Lizieri, C. and MacGregor, B. (2008) The Inflation Hedging Characteristics of US and UK Investments: A Multi-Factor Error Correction Approach, Journal of Real Estate Finance and Economics, 36(2) 183-206.
Lizieri, C., Satchell, S. and Zhang, Q. (2007) The Underlying Return Generating Factors for REIT Returns: An Application of Independent Component Analysis, Real Estate Economics, 35, 567-596.
Johnson, R., Lizieri, C., Soenen, L. and Worzala, E. (2006) Simulating Currency Risk on Private Investments in Real Estate, Journal of Real Estate Portfolio Management, 12(2), 91-102.
McAllister, P. and Lizieri, C. (2006) Monetary Integration and Real Estate Markets: the Impact of the Euro on European Real Estate Equities, Journal of Property Research, 23(4) 281-304.
Devaney, S and Lizieri, C. (2005) Individual Assets, Market Structure and the Drivers of Return, Journal of Property Research, 22, 287-307.
Knight, J, Lizieri, C. and Satchell, S. (2005)Diversification When It Hurts? The Joint Distributions of Real Estate and Equity Markets, Journal of Property Research, 22, 309-323.
Crosby, N., Hughes, C., Lizieri, C. and Oughton, M. (2005) A Message from the Oracle: The Land-Use Impact of a Major In-Town Shopping Centre, Journal of Property Research, 22(2-3), 245-265.
Devaney, S. and Lizieri, C. (2004) Sale and Leaseback, Asset Outsourcing and Capital Market Impacts, Journal of Corporate Real Estate 6(2) 118-132
Collett, D., Lizieri, C. and Ward, C. (2003) Timing and the Holding Periods of Institutional Real Estate, Real Estate Economics, 31(2), 205-222.