Shortly before of the beginning of the global financial crisis of 2008 REITs were introduced in several European countries based on their success in mature markets like the US, Australia and some Asian countries. While the history of REITs in Europe has been relatively brief, REITs are well on the way to become an industry standard as a real estate investment financial vehicle not only in Europe but throughout the developed world. This book provides both academics and decision makers an introduction to the economics of REITs beyond tax transparency, an overview of the mature REITs markets, and a closer reflection of the development of different REIT-structures in Europe including the history, regulation and markets of each country.

The consistency of REITs' earnings and their high dividend yields, together with the low correlation of REIT stock prices with prices of other asset classes, make real estate investment trusts a unique opportunity for investors. Drawing on more than thirty years of successful investing experience with REITs, Ralph L. Block has created the ultimate REIT guide. This third edition, fully updated, explains the ins and outs of this attractive asset class in an uncomplicated style that makes it easy for novice and professional investors, as well as financial planners and investment advisers, to find what they need to know. This new edition offers the following: How to spot blue-chip REITs and control investment risk How REITs compare with other investments How to build a diversified REIT portfolio, directly or with REIT mutual funds Understanding the risk-and-reward dynamics of commercial real estate Important new developments and strategies in the REIT industry