Clasificación de zonas de inversión inmobiliaria bajo el criterio de la relación rentabilidad-riesgo y el perfil del riesgo del inversor

Abstract

The last great global financial crisis caused the profitability of many real estate businesses to be seriously affected. In the world of financial investments, profitability and risk are magnitudes that necessarily have to be taken into account and balanced based on a conservative, medium and aggressive investor profile. The profitability of real estate assets is considered as the change in value experienced over time. On the other hand, a common way to measure the risk of an investment is volatility. In this paper we analyse the relationship between profitability and risk of volatility in the value of real estate assets as an object of investment. For the development of the research we limited ourselves to different geographical areas that can be considered investment areas due to their characteristics, in an aggregated, homogeneous way. Specifically, we analyse the areas that make up the urban area of the municipality of Seville. The results obtained show the profitability and volatility experienced over time in these areas. In this way, the geographical areas are classified based on the risk-return ratio, providing the investor with information of interest to identify investment areas according to their risk profile. © 2023 by The authors.