Academic profile

Professor Franz Fuerst is Professor of Real Estate and Urban Economics at the University of Cambridge as well a Fellow/Director of Studies at Trinity Hall, Cambridge. He also holds fellowships at the Academy of Social Sciences, the J M Keynes Fund and the Cambridge University Land Society.

Professor Fuerst is principal investigator on a number of international research projects and coordinates a team of doctoral and postdoctoral researchers. Previous academic posts include Associate Professor in Real Estate Economics at the University of Reading, Research Associate at the City University of New York as well as the Technical University of Berlin. Outside of academia, he worked for BNP Paribas Real Estate and was responsible for market research and consultancy services around large-scale commercial real estate portfolio transactions. Professor Fuerst is the principal author of several widely cited and award-winning studies on the pricing of sustainable features in a number of international commercial and residential markets. Most recently, he won the 2022 ARES/CoStar best paper award for his joint analysis of healthy building certifications and the 2021 Nick Tyrell Prize for his work on specialist non-listed funds with two co-authors. Previously, he was awarded the Pacific Rim Real Estate Society Best Refereed Paper Award, Latin American Real Estate Society Best Working Paper Award, the Emerald Highly Commended Paper Award, the Emerald Outstanding Paper Award and the DTZ Research Institute Best Paper Award. He is also affiliated with a number of universities and research institutions worldwide, for example as a fellow of the Thrive Research Hub at the University of Melbourne and a visiting professor at several universities. He advises businesses and government authorities on real estate related matters and serves as Co-Editor of Spatial Economic Analysis.




RE02 - Real Estate Finance and Investment

RE03 – Real Estate Development

Paper 11 – Urban and Land Economics


Research interests

Professor Fuerst’s expertise and research interests are in the areas of financial and economic analysis of sustainable real estate investments, health and well-being in the built environment as well real estate and spatial analysis. His work in applied econometrics uses large sample datasets to estimate if and how the physical built environment and its measurable features shape economic and financial outcomes in the real estate market via a broad range of mediating channels such as energy consumption, occupant health and environmental risks and attitudes of stakeholders. Within this area of research, he has focussed on the impact of ESG and other green strategies and policies from both government and businesses.




  • Anirban Banerjee, Prashant Das, Franz Fuerst, Are green and healthy building labels counterproductive in emerging markets? An examination of office rental contracts in India, Journal of Cleaner Production, Volume 455, 2024, 141838, ISSN 0959-6526,
  • Qiumeng Li, Enjia Zhang, Davide Luca, Franz Fuerst (2024): The travel pattern difference in dockless micro-mobility: Shared e-bikes versus shared bikes, Transportation Research Part D: Transport and Environment, Volume 130,
  • 104179, ISSN 1361-9209,
  • Banerjee, A.; Das, P.; & Fuerst, F. (2024): Are Green and Healthy Building Labels Counterproductive in Emerging Markets? An Examination of Office Rental Contracts in India. Journal of Cleaner Production (forthcoming).
  • Akhtyrska, Y., & Fuerst, F. (2024). The effectiveness of climate change regulations in the commercial real estate market. Energy Policy, 185, 113916.


  • Li, Q., Fuerst, F., & Luca, D. (2023). Do shared E-bikes reduce urban carbon emissions? Journal of Transport Geography, 112, 103697.
  • Felici, M., & Fuerst, F. (2023). The Heterogeneous Relationship of Owner-occupied and Investment Property with Household Portfolio Choice. Journal of Housing Economics, 62, 101964.
  • Jackson T. Anderson, Franz Fuerst, Richard B. Peiser & Michael J. Seiler (2023) iBuyer’s Use of PropTech to Make Large-Scale Cash Offers, Journal of Real Estate Research, DOI: 10.1080/08965803.2023.2214467
  • Haddad, M.F.C., Blazsek, S., Arestis, P. et al. (2023). The two-component Beta-t-QVAR-M-lev: a new forecasting model. Financial Markets and Portfolio Management, DOI: 10.1007/s11408-023-00431-4
  • Fuerst, F., [with Elhorst, P...... & Yu, J.] (2023). Raising the bar (24). Spatial Economic Analysis17(2), 151-155. 18 (2), 153-157.










in Y. Jin (ed), Applied Urban Modelling: Assessing Pathways towards Energy Efficient and Climate-Wise Regions. Cambridge: British Academy. Forthcoming.






Online working papers

Link to the research of Dr Franz Fuerst on





Current PhD students

Yana Akhtyrska

Floris Blok

Xinyan Huang

Qiumeng Li

Katharina Minkow

Ramandeep Singh

Recent PhD students


Hassan Adan

Mark Burke

Ante Busic

Odilon Costa

Marco Felici

Michel Haddad

Jan-Otto Jandl

Donald Stevens

Nikodem Szumilo





Climate Change





Public Engagement

Public Policy


Research Centres