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0.5em;width:100%}.mw-parser-output .ambox .mbox-image{border:none;padding:2px 0 2px 0.5em;text-align:center}.mw-parser-output .ambox .mbox-imageright{border:none;padding:2px 0.5em 2px 0;text-align:center}.mw-parser-output .ambox .mbox-empty-cell{border:none;padding:0;width:1px}.mw-parser-output .ambox .mbox-image-div{width:52px}@media(min-width:720px){.mw-parser-output .ambox{margin:0 10%}}@media print{body.ns-0 .mw-parser-output .ambox{display:none!important}}</style><table class="box-More_citations_needed plainlinks metadata ambox ambox-content ambox-Refimprove" role="presentation"><tbody><tr><td class="mbox-image"><div class="mbox-image-div"><span typeof="mw:File"><a href="/wiki/File:Question_book-new.svg" class="mw-file-description"><img alt="" src="//upload.wikimedia.org/wikipedia/en/thumb/9/99/Question_book-new.svg/50px-Question_book-new.svg.png" decoding="async" width="50" height="39" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/en/thumb/9/99/Question_book-new.svg/75px-Question_book-new.svg.png 1.5x, //upload.wikimedia.org/wikipedia/en/thumb/9/99/Question_book-new.svg/100px-Question_book-new.svg.png 2x" data-file-width="512" data-file-height="399" /></a></span></div></td><td class="mbox-text"><div class="mbox-text-span">This article <b>needs additional citations for <a href="/wiki/Wikipedia:Verifiability" title="Wikipedia:Verifiability">verification</a></b>.<span class="hide-when-compact"> Please help <a href="/wiki/Special:EditPage/Real_estate_derivative" title="Special:EditPage/Real estate derivative">improve this article</a> by <a href="/wiki/Help:Referencing_for_beginners" title="Help:Referencing for beginners">adding citations to reliable sources</a>. Unsourced material may be challenged and removed.<br /><small><span class="plainlinks"><i>Find sources:</i> <a rel="nofollow" class="external text" href="https://www.google.com/search?as_eq=wikipedia&q=%22Real+estate+derivative%22">"Real estate derivative"</a> – <a rel="nofollow" class="external text" href="https://www.google.com/search?tbm=nws&q=%22Real+estate+derivative%22+-wikipedia&tbs=ar:1">news</a> <b>·</b> <a rel="nofollow" class="external text" href="https://www.google.com/search?&q=%22Real+estate+derivative%22&tbs=bkt:s&tbm=bks">newspapers</a> <b>·</b> <a rel="nofollow" class="external text" href="https://www.google.com/search?tbs=bks:1&q=%22Real+estate+derivative%22+-wikipedia">books</a> <b>·</b> <a rel="nofollow" class="external text" href="https://scholar.google.com/scholar?q=%22Real+estate+derivative%22">scholar</a> <b>·</b> <a rel="nofollow" class="external text" href="https://www.jstor.org/action/doBasicSearch?Query=%22Real+estate+derivative%22&acc=on&wc=on">JSTOR</a></span></small></span> <span class="date-container"><i>(<span class="date">December 2009</span>)</i></span><span class="hide-when-compact"><i> (<small><a href="/wiki/Help:Maintenance_template_removal" title="Help:Maintenance template removal">Learn how and when to remove this message</a></small>)</i></span></div></td></tr></tbody></table> <p>A <b>real estate derivative</b> is a <a href="/wiki/Derivative_(finance)" title="Derivative (finance)">financial instrument</a> whose value is based on the price of <a href="/wiki/Real_estate" title="Real estate">real estate</a>. The core uses for real estate derivatives are: <a href="/wiki/Hedge_(finance)" title="Hedge (finance)">hedging</a> positions, pre-investing assets and re-allocating a <a href="/wiki/Portfolio_(finance)" title="Portfolio (finance)">portfolio</a>. The major products within real estate derivatives are: <a href="/wiki/Swap_(finance)" title="Swap (finance)">swaps</a>, <a href="/wiki/Futures_contract" title="Futures contract">futures contracts</a>, <a href="/wiki/Option_(finance)" title="Option (finance)">options</a> (calls and puts) and <a href="/wiki/Structured_product" title="Structured product">structured products</a>. Each of these products can use a different real estate index. Further, each property type and region can be used as a reference point for any real estate derivative. </p> <meta property="mw:PageProp/toc" /> <div class="mw-heading mw-heading2"><h2 id="Applications">Applications</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Real_estate_derivative&action=edit&section=1" title="Edit section: Applications"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <div class="mw-heading mw-heading3"><h3 id="Swap">Swap</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Real_estate_derivative&action=edit&section=2" title="Edit section: Swap"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>The most basic form of real estate derivative is a swap transaction, in which one investor, or one side, goes <a href="/wiki/Long_(finance)" title="Long (finance)">long</a> and the other side goes <a href="/wiki/Short_(finance)" title="Short (finance)">short (finance)</a>. An investor would want to execute a swap if they thought that the market, or sector, was likely to appreciate, in which case they would go long. Alternatively, if an investor’s view was that the market would depreciate from that point, they would go short, or take the other side of that trade. </p> <div class="mw-heading mw-heading3"><h3 id="Options">Options</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Real_estate_derivative&action=edit&section=3" title="Edit section: Options"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>One can apply options to real estate. A real estate Option is a contract based on a <a href="/wiki/Time_horizon" title="Time horizon">time horizon</a> and an expected <a href="/wiki/Property_value" class="mw-redirect" title="Property value">property value</a>. It is developed based on financial options contracts and adopted to individual real estate assets. </p> <div class="mw-heading mw-heading4"><h4 id="Call">Call</h4><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Real_estate_derivative&action=edit&section=4" title="Edit section: Call"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>With the real estate <a href="/wiki/Call_option" title="Call option">call option</a>, the property owner can sell an option in exchange for debt-free cash today. Investor, who buys the real estate call option benefits from property price appreciation and price volatility. </p> <div class="mw-heading mw-heading4"><h4 id="Put">Put</h4><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Real_estate_derivative&action=edit&section=5" title="Edit section: Put"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>With the real estate <a href="/wiki/Put_option" title="Put option">put option</a> (selling price decline insurance), the investor can sell an option thus the investor underwrites price decline insurance. The property owner, who buys the option, is protected against price decline of the property. </p> <div class="mw-heading mw-heading2"><h2 id="Derivative_efficiencies">Derivative efficiencies</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Real_estate_derivative&action=edit&section=6" title="Edit section: Derivative efficiencies"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>Owning real estate assets is costly, and the transaction costs associated with purchasing commercial real estate can be prohibitive. Typical transaction costs can equal 500 - 800 <a href="/wiki/Basis_point" title="Basis point">basis points</a> per transaction.<sup class="noprint Inline-Template Template-Fact" style="white-space:nowrap;">[<i><a href="/wiki/Wikipedia:Citation_needed" title="Wikipedia:Citation needed"><span title="This claim needs references to reliable sources. (October 2021)">citation needed</span></a></i>]</sup> Industry estimates suggest that transaction costs for commercial real estate easily surpass $10–$12 billion annually.<sup class="noprint Inline-Template Template-Fact" style="white-space:nowrap;">[<i><a href="/wiki/Wikipedia:Citation_needed" title="Wikipedia:Citation needed"><span title="This claim needs references to reliable sources. (October 2021)">citation needed</span></a></i>]</sup> Since the US real estate derivative market is new, the transaction costs are at this point variable. However, based on derivatives in other markets, it is anticipated that the costs will be well below the 500-800 basis points required to invest in actual real estate.<sup class="noprint Inline-Template Template-Fact" style="white-space:nowrap;">[<i><a href="/wiki/Wikipedia:Citation_needed" title="Wikipedia:Citation needed"><span title="This claim needs references to reliable sources. (October 2021)">citation needed</span></a></i>]</sup> </p> <div class="mw-heading mw-heading2"><h2 id="Market_growth">Market growth</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Real_estate_derivative&action=edit&section=7" title="Edit section: Market growth"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>The market for real estate derivatives was long overdue.<sup class="noprint Inline-Template Template-Fact" style="white-space:nowrap;">[<i><a href="/wiki/Wikipedia:Citation_needed" title="Wikipedia:Citation needed"><span title="This claim needs references to reliable sources. (April 2014)">citation needed</span></a></i>]</sup> Real Estate is the only major <a href="/wiki/Asset_allocation" title="Asset allocation">asset class</a> that only recently developed a <a href="/wiki/Derivatives_market" title="Derivatives market">derivatives market</a>.<sup class="noprint Inline-Template Template-Fact" style="white-space:nowrap;">[<i><a href="/wiki/Wikipedia:Citation_needed" title="Wikipedia:Citation needed"><span title="This claim needs references to reliable sources. (October 2021)">citation needed</span></a></i>]</sup> According to the Pension Real Estate Association’s Plan Sponsor Research Report, pension funds allocate approximately 6.0% of their assets to real estate, making it one of the largest investable <a href="/wiki/Asset" title="Asset">asset classes</a>, after equities and <a href="/wiki/Fixed_income" title="Fixed income">fixed income</a>.<sup class="noprint Inline-Template Template-Fact" style="white-space:nowrap;">[<i><a href="/wiki/Wikipedia:Citation_needed" title="Wikipedia:Citation needed"><span title="This claim needs references to reliable sources. (October 2021)">citation needed</span></a></i>]</sup> Because of the significant <a href="/wiki/Transaction_cost" title="Transaction cost">transactions costs</a> involved with investing in real estate, derivatives can, but also might not, improve the efficiency of the market.<sup class="noprint Inline-Template Template-Fact" style="white-space:nowrap;">[<i><a href="/wiki/Wikipedia:Citation_needed" title="Wikipedia:Citation needed"><span title="This claim needs references to reliable sources. (October 2021)">citation needed</span></a></i>]</sup> </p> <div class="mw-heading mw-heading3"><h3 id="United_States">United States</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Real_estate_derivative&action=edit&section=8" title="Edit section: United States"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>The market for US real estate derivatives, while in a nascent stage, made significant progress in 2007<sup class="noprint Inline-Template Template-Fact" style="white-space:nowrap;">[<i><a href="/wiki/Wikipedia:Citation_needed" title="Wikipedia:Citation needed"><span title="This claim needs references to reliable sources. (December 2009)">citation needed</span></a></i>]</sup>. There are now a diverse set of <a href="/wiki/Index_(economics)" title="Index (economics)">indices</a> and methodologies being used to create and structure <a href="/wiki/Real_estate" title="Real estate">real estate</a> <a href="/wiki/Derivative_(finance)" title="Derivative (finance)">derivatives</a>, for both residential and commercial real estate.<sup class="noprint Inline-Template Template-Fact" style="white-space:nowrap;">[<i><a href="/wiki/Wikipedia:Citation_needed" title="Wikipedia:Citation needed"><span title="This claim needs references to reliable sources. (December 2009)">citation needed</span></a></i>]</sup> </p> <div class="mw-heading mw-heading3"><h3 id="United_Kingdom">United Kingdom</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Real_estate_derivative&action=edit&section=9" title="Edit section: United Kingdom"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>In the UK, the market for property derivatives did not begin until 2004. However, since the market’s inception, the growth has been significant. Through the third quarter of 2007, trades with an outstanding notional value of 7.9 billion pounds have been executed. The U.S. market is still emerging, and has been limited somewhat over the last year by the global credit crunch and uncertain values of <a href="/wiki/Mortgage-backed_security" title="Mortgage-backed security">mortgage-backed securities</a>. However, the market in the U.S. is now emerging quickly, with over $500 million worth of transactions to date in 2007. </p> <div class="mw-heading mw-heading3"><h3 id="Australia">Australia</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Real_estate_derivative&action=edit&section=10" title="Edit section: Australia"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>Taking the AUD 139.5 billion in Australian residential and commercial property sales recorded in 2006, and applying a 1-to-1 derivatives-to-underlying ratio, the potential PD market would be larger than the $89 billion Australian credit derivatives market. A 2-to-1 ratio would make it more active than the $215 billion interest rate options sector, and a 3-to-1 ratio would put it within reach of the $472 billion ASX options industry.<sup id="cite_ref-1" class="reference"><a href="#cite_note-1"><span class="cite-bracket">[</span>1<span class="cite-bracket">]</span></a></sup> </p><p>RP Data-Rismark indices is regarded as the market leader of Australia's Property Derivatives Market.<sup id="cite_ref-2" class="reference"><a href="#cite_note-2"><span class="cite-bracket">[</span>2<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading2"><h2 id="References">References</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Real_estate_derivative&action=edit&section=11" title="Edit section: References"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <style data-mw-deduplicate="TemplateStyles:r1239543626">.mw-parser-output .reflist{margin-bottom:0.5em;list-style-type:decimal}@media screen{.mw-parser-output .reflist{font-size:90%}}.mw-parser-output .reflist .references{font-size:100%;margin-bottom:0;list-style-type:inherit}.mw-parser-output .reflist-columns-2{column-width:30em}.mw-parser-output .reflist-columns-3{column-width:25em}.mw-parser-output .reflist-columns{margin-top:0.3em}.mw-parser-output .reflist-columns ol{margin-top:0}.mw-parser-output .reflist-columns li{page-break-inside:avoid;break-inside:avoid-column}.mw-parser-output .reflist-upper-alpha{list-style-type:upper-alpha}.mw-parser-output .reflist-upper-roman{list-style-type:upper-roman}.mw-parser-output .reflist-lower-alpha{list-style-type:lower-alpha}.mw-parser-output .reflist-lower-greek{list-style-type:lower-greek}.mw-parser-output .reflist-lower-roman{list-style-type:lower-roman}</style><div class="reflist"> <div class="mw-references-wrap"><ol class="references"> <li id="cite_note-1"><span class="mw-cite-backlink"><b><a href="#cite_ref-1">^</a></b></span> <span class="reference-text"><style data-mw-deduplicate="TemplateStyles:r1238218222">.mw-parser-output cite.citation{font-style:inherit;word-wrap:break-word}.mw-parser-output .citation q{quotes:"\"""\"""'""'"}.mw-parser-output .citation:target{background-color:rgba(0,127,255,0.133)}.mw-parser-output .id-lock-free.id-lock-free a{background:url("//upload.wikimedia.org/wikipedia/commons/6/65/Lock-green.svg")right 0.1em center/9px no-repeat}.mw-parser-output .id-lock-limited.id-lock-limited a,.mw-parser-output .id-lock-registration.id-lock-registration a{background:url("//upload.wikimedia.org/wikipedia/commons/d/d6/Lock-gray-alt-2.svg")right 0.1em center/9px no-repeat}.mw-parser-output .id-lock-subscription.id-lock-subscription a{background:url("//upload.wikimedia.org/wikipedia/commons/a/aa/Lock-red-alt-2.svg")right 0.1em center/9px no-repeat}.mw-parser-output .cs1-ws-icon a{background:url("//upload.wikimedia.org/wikipedia/commons/4/4c/Wikisource-logo.svg")right 0.1em center/12px no-repeat}body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-free a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-limited a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-registration a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-subscription a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .cs1-ws-icon a{background-size:contain;padding:0 1em 0 0}.mw-parser-output .cs1-code{color:inherit;background:inherit;border:none;padding:inherit}.mw-parser-output .cs1-hidden-error{display:none;color:var(--color-error,#d33)}.mw-parser-output .cs1-visible-error{color:var(--color-error,#d33)}.mw-parser-output .cs1-maint{display:none;color:#085;margin-left:0.3em}.mw-parser-output .cs1-kern-left{padding-left:0.2em}.mw-parser-output .cs1-kern-right{padding-right:0.2em}.mw-parser-output .citation .mw-selflink{font-weight:inherit}@media screen{.mw-parser-output .cs1-format{font-size:95%}html.skin-theme-clientpref-night .mw-parser-output .cs1-maint{color:#18911f}}@media screen and (prefers-color-scheme:dark){html.skin-theme-clientpref-os .mw-parser-output .cs1-maint{color:#18911f}}</style><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://web.archive.org/web/20140602195034/https://seek.estate/articles/australias-property-derivatives-market/">"Australia's Property Derivatives Market"</a>. Seek Estate. 2 June 2014. Archived from <a rel="nofollow" class="external text" href="https://seek.estate/articles/australias-property-derivatives-market/">the original</a> on 2 June 2014.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=Australia%27s+Property+Derivatives+Market&rft.pub=Seek+Estate&rft.date=2014-06-02&rft_id=https%3A%2F%2Fseek.estate%2Farticles%2Faustralias-property-derivatives-market%2F&rfr_id=info%3Asid%2Fen.wikipedia.org%3AReal+estate+derivative" class="Z3988"></span></span> </li> <li id="cite_note-2"><span class="mw-cite-backlink"><b><a href="#cite_ref-2">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://web.archive.org/web/20140605051144/https://seek.estate/articles/new-ways-profit-australian-property-boom/">"New ways to profit from Australian Property Boom"</a>. Seek Estate. 2 June 2014. Archived from <a rel="nofollow" class="external text" href="https://seek.estate/articles/new-ways-profit-australian-property-boom/">the original</a> on 5 June 2014.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=New+ways+to+profit+from+Australian+Property+Boom&rft.pub=Seek+Estate&rft.date=2014-06-02&rft_id=https%3A%2F%2Fseek.estate%2Farticles%2Fnew-ways-profit-australian-property-boom%2F&rfr_id=info%3Asid%2Fen.wikipedia.org%3AReal+estate+derivative" class="Z3988"></span></span> </li> </ol></div></div> <div class="navbox-styles"><style data-mw-deduplicate="TemplateStyles:r1129693374">.mw-parser-output .hlist dl,.mw-parser-output .hlist ol,.mw-parser-output .hlist ul{margin:0;padding:0}.mw-parser-output .hlist dd,.mw-parser-output .hlist dt,.mw-parser-output .hlist li{margin:0;display:inline}.mw-parser-output .hlist.inline,.mw-parser-output .hlist.inline dl,.mw-parser-output .hlist.inline ol,.mw-parser-output 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href="/wiki/Template:Derivatives_market" title="Template:Derivatives market"><abbr title="View this template">v</abbr></a></li><li class="nv-talk"><a href="/wiki/Template_talk:Derivatives_market" title="Template talk:Derivatives market"><abbr title="Discuss this template">t</abbr></a></li><li class="nv-edit"><a href="/wiki/Special:EditPage/Template:Derivatives_market" title="Special:EditPage/Template:Derivatives market"><abbr title="Edit this template">e</abbr></a></li></ul></div><div id="Derivatives_market" style="font-size:114%;margin:0 4em"><a href="/wiki/Derivatives_market" title="Derivatives market">Derivatives market</a></div></th></tr><tr><td class="navbox-abovebelow" colspan="2"><div><a href="/wiki/Derivative_(finance)" title="Derivative (finance)">Derivative (finance)</a></div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Option_(finance)" title="Option (finance)">Options</a></th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"></div><table class="nowraplinks navbox-subgroup" style="border-spacing:0"><tbody><tr><th scope="row" class="navbox-group" style="width:1%">Terms</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Delta_neutral" title="Delta neutral">Delta neutral</a></li> <li><a href="/wiki/Exercise_(options)" title="Exercise (options)">Exercise</a></li> <li><a href="/wiki/Expiration_(options)" title="Expiration (options)">Expiration</a></li> <li><a href="/wiki/Moneyness" title="Moneyness">Moneyness</a></li> <li><a href="/wiki/Open_interest" title="Open interest">Open interest</a></li> <li><a href="/wiki/Pin_risk" title="Pin risk">Pin risk</a></li> <li><a href="/wiki/Risk-free_interest_rate" class="mw-redirect" title="Risk-free interest rate">Risk-free interest rate</a></li> <li><a href="/wiki/Strike_price" title="Strike price">Strike price</a></li> <li><a href="/wiki/Synthetic_position" title="Synthetic position">Synthetic position</a></li> <li><a href="/wiki/Greeks_(finance)" title="Greeks (finance)">the Greeks</a></li> <li><a href="/wiki/Volatility_(finance)" title="Volatility (finance)">Volatility</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Vanilla_option" class="mw-redirect" title="Vanilla option">Vanillas</a></th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/American_option" class="mw-redirect" title="American option">American</a></li> <li><a href="/wiki/Bond_option" title="Bond option">Bond option</a></li> <li><a href="/wiki/Call_option" title="Call option">Call</a></li> <li><a href="/wiki/Employee_stock_option" title="Employee stock option">Employee stock option</a></li> <li><a href="/wiki/European_option" class="mw-redirect" title="European option">European</a></li> <li><a href="/wiki/Fixed_income" title="Fixed income">Fixed income</a></li> <li><a href="/wiki/Foreign_exchange_option" title="Foreign exchange option">FX</a></li> <li><a href="/wiki/Option_style" title="Option style">Option styles</a></li> <li><a href="/wiki/Put_option" title="Put option">Put</a></li> <li><a href="/wiki/Warrant_(finance)" title="Warrant (finance)">Warrants</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Exotic_option" title="Exotic option">Exotics</a></th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Asian_option" title="Asian option">Asian</a></li> <li><a href="/wiki/Barrier_option" title="Barrier option">Barrier</a></li> <li><a href="/wiki/Basket_option" title="Basket option">Basket</a></li> <li><a href="/wiki/Binary_option" title="Binary option">Binary</a></li> <li><a href="/wiki/Callable_bull/bear_contract" title="Callable bull/bear contract">Callable bull/bear contract</a></li> <li><a href="/wiki/Chooser_option" title="Chooser option">Chooser</a></li> <li><a href="/wiki/Cliquet_option" title="Cliquet option">Cliquet</a></li> <li><a href="/wiki/Commodore_option" title="Commodore option">Commodore</a></li> <li><a href="/wiki/Compound_option" title="Compound option">Compound</a></li> <li><a href="/wiki/Forward_start_option" title="Forward start option">Forward start</a></li> <li><a href="/wiki/Interest_rate_option" title="Interest rate option">Interest rate</a></li> <li><a href="/wiki/Lookback_option" title="Lookback option">Lookback</a></li> <li>Mountain range</li> <li><a href="/wiki/Rainbow_option" title="Rainbow option">Rainbow</a></li> <li><a href="/wiki/Spread_option" title="Spread option">Spread</a></li> <li><a href="/wiki/Swaption" title="Swaption">Swaption</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Options_strategy" title="Options strategy">Strategies</a></th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Backspread" title="Backspread">Backspread</a></li> <li><a href="/wiki/Box_spread_(options)" class="mw-redirect" title="Box spread (options)">Box spread</a></li> <li><a href="/wiki/Butterfly_(options)" title="Butterfly (options)">Butterfly</a></li> <li><a href="/wiki/Calendar_spread" title="Calendar spread">Calendar spread</a></li> <li><a href="/wiki/Collar_(finance)" title="Collar (finance)">Collar</a></li> <li><a href="/wiki/Condor_(options)" title="Condor (options)">Condor</a></li> <li><a href="/wiki/Covered_option" title="Covered option">Covered option</a></li> <li><a href="/wiki/Credit_spread_(options)" title="Credit spread (options)">Credit spread</a></li> <li><a href="/wiki/Debit_spread" title="Debit spread">Debit spread</a></li> <li><a href="/wiki/Diagonal_spread" title="Diagonal spread">Diagonal spread</a></li> <li><a href="/wiki/Fence_(finance)" title="Fence (finance)">Fence</a></li> <li><a href="/wiki/Intermarket_spread" title="Intermarket spread">Intermarket spread</a></li> <li><a href="/wiki/Iron_butterfly_(options_strategy)" title="Iron butterfly (options strategy)">Iron butterfly</a></li> <li><a href="/wiki/Iron_condor" title="Iron condor">Iron condor</a></li> <li><a href="/wiki/Jelly_roll_(options)" title="Jelly roll (options)">Jelly roll</a></li> <li><a href="/wiki/Ladder_(option_combination)" title="Ladder (option combination)">Ladder</a></li> <li><a href="/wiki/Naked_option" title="Naked option">Naked option</a></li> <li><a href="/wiki/Straddle" title="Straddle">Straddle</a></li> <li><a href="/wiki/Strangle_(options)" title="Strangle (options)">Strangle</a></li> <li><a href="/wiki/Protective_option" title="Protective option">Protective option</a></li> <li><a href="/wiki/Ratio_spread" title="Ratio spread">Ratio spread</a></li> <li><a href="/wiki/Risk_reversal" title="Risk reversal">Risk reversal</a></li> <li><a href="/wiki/Vertical_spread" title="Vertical spread">Vertical spread</a> (<a href="/wiki/Bear_spread" title="Bear spread">Bear</a>, <a href="/wiki/Bull_spread" title="Bull spread">Bull</a>)</li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Valuation_of_options" title="Valuation of options">Valuation</a></th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Bachelier_model" title="Bachelier model">Bachelier</a></li> <li><a href="/wiki/Binomial_options_pricing_model" title="Binomial options pricing model">Binomial</a></li> <li><a href="/wiki/Black_model" title="Black model">Black</a></li> <li><a href="/wiki/Black%E2%80%93Scholes_model" title="Black–Scholes model">Black–Scholes</a> (<a href="/wiki/Black%E2%80%93Scholes_equation" title="Black–Scholes equation">equation</a>)</li> <li><a href="/wiki/Finite_difference_methods_for_option_pricing" title="Finite difference methods for option pricing">Finite difference</a></li> <li><a href="/wiki/Foreign_exchange_option#Valuation:_the_Garman–Kohlhagen_model" title="Foreign exchange option">Garman–Kohlhagen</a></li> <li><a href="/wiki/Heston_model" title="Heston model">Heston</a></li> <li><a href="/wiki/Lattice_model_(finance)" title="Lattice model (finance)">Lattices</a></li> <li><a href="/wiki/Margrabe%27s_formula" title="Margrabe's formula">Margrabe</a></li> <li><a href="/wiki/Put%E2%80%93call_parity" title="Put–call parity">Put–call parity</a></li> <li><a href="/wiki/Monte_Carlo_methods_for_option_pricing" title="Monte Carlo methods for option pricing">MC Simulation</a></li> <li><a href="/wiki/Real_options_valuation" title="Real options valuation">Real options</a></li> <li><a href="/wiki/Trinomial_tree" title="Trinomial tree">Trinomial</a></li> <li><a href="/wiki/Vanna%E2%80%93Volga_pricing" title="Vanna–Volga pricing">Vanna–Volga</a></li></ul> </div></td></tr></tbody></table><div></div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Swap_(finance)" title="Swap (finance)">Swaps</a></th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Amortising_swap" title="Amortising swap">Amortising</a></li> <li><a href="/wiki/Asset_swap" title="Asset swap">Asset</a></li> <li><a href="/wiki/Basis_swap" title="Basis swap">Basis</a></li> <li><a href="/wiki/Commodity_swap" title="Commodity swap">Commodity</a></li> <li><a href="/wiki/Conditional_variance_swap" title="Conditional variance swap">Conditional variance</a></li> <li><a href="/wiki/Constant_maturity_swap" title="Constant maturity swap">Constant maturity</a></li> <li><a href="/wiki/Correlation_swap" title="Correlation swap">Correlation</a></li> <li><a href="/wiki/Credit_default_swap" title="Credit default swap">Credit default</a></li> <li><a href="/wiki/Currency_swap" title="Currency swap">Currency</a></li> <li><a href="/wiki/Dividend_swap" title="Dividend swap">Dividend</a></li> <li><a href="/wiki/Equity_swap" title="Equity swap">Equity</a></li> <li><a href="/wiki/Foreign_exchange_swap" title="Foreign exchange swap">Forex</a></li> <li><a href="/wiki/Forward_rate_agreement" title="Forward rate agreement">Forward Rate Agreement</a></li> <li><a href="/wiki/Inflation_swap" title="Inflation swap">Inflation</a></li> <li><a href="/wiki/Interest_rate_swap" title="Interest rate swap">Interest rate</a></li> <li><a href="/wiki/Overnight_indexed_swap" title="Overnight indexed swap">Overnight indexed</a></li> <li><a href="/wiki/Total_return_swap" title="Total return swap">Total return</a></li> <li><a href="/wiki/Variance_swap" title="Variance swap">Variance</a></li> <li><a href="/wiki/Volatility_swap" title="Volatility swap">Volatility</a></li> <li><a href="/wiki/Year-on-year_inflation-indexed_swap" title="Year-on-year inflation-indexed swap">Year-on-year inflation-indexed</a></li> <li><a href="/wiki/Zero_coupon_swap" title="Zero coupon swap">Zero Coupon</a></li> <li><a href="/wiki/Zero-coupon_inflation_swap" title="Zero-coupon inflation swap">Zero-coupon inflation-indexed</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><div class="hlist"><ul><li><a href="/wiki/Forward_contract" title="Forward contract">Forwards</a></li><li><a href="/wiki/Futures_contract" title="Futures contract">Futures</a></li></ul></div></th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Contango" title="Contango">Contango</a></li> <li><a href="/w/index.php?title=Commodities_future&action=edit&redlink=1" class="new" title="Commodities future (page does not exist)">Commodities future</a></li> <li><a href="/wiki/Currency_future" title="Currency future">Currency future</a></li> <li><a href="/wiki/Dividend_future" title="Dividend future">Dividend future</a></li> <li><a href="/wiki/Forward_market" title="Forward market">Forward market</a></li> <li><a href="/wiki/Forward_price" title="Forward price">Forward price</a></li> <li><a href="/wiki/Forward_contract#Spot–forward_parity" title="Forward contract">Forwards pricing</a></li> <li><a href="/wiki/Forward_rate" title="Forward rate">Forward rate</a></li> <li><a href="/wiki/Futures_contract#Pricing" title="Futures contract">Futures pricing</a></li> <li><a href="/wiki/Interest_rate_future" title="Interest rate future">Interest rate future</a></li> <li><a href="/wiki/Margin_(finance)" title="Margin (finance)">Margin</a></li> <li><a href="/wiki/Normal_backwardation" title="Normal backwardation">Normal backwardation</a></li> <li><a href="/wiki/Perpetual_futures" title="Perpetual futures">Perpetual futures</a></li> <li><a href="/wiki/Single-stock_futures" title="Single-stock futures">Single-stock futures</a></li> <li><a href="/wiki/Slippage_(finance)" title="Slippage (finance)">Slippage</a></li> <li><a href="/wiki/Stock_market_index_future" title="Stock market index future">Stock market index future</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Exotic_derivative" title="Exotic derivative">Exotic derivatives</a></th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/w/index.php?title=Commodity_derivative&action=edit&redlink=1" class="new" title="Commodity derivative (page does not exist)">Commodity derivative</a></li> <li><a href="/wiki/Energy_derivative" title="Energy derivative">Energy derivative</a></li> <li><a href="/wiki/Freight_derivative" class="mw-redirect" title="Freight derivative">Freight derivative</a></li> <li><a href="/wiki/Inflation_derivative" title="Inflation derivative">Inflation derivative</a></li> <li><a href="/wiki/Property_derivative" title="Property derivative">Property derivative</a></li> <li><a href="/wiki/Weather_derivative" title="Weather derivative">Weather derivative</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Other derivatives</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Collateralized_debt_obligation" title="Collateralized debt obligation">Collateralized debt obligation (CDO)</a></li> <li><a href="/wiki/Constant_proportion_portfolio_insurance" title="Constant proportion portfolio insurance">Constant proportion portfolio insurance</a></li> <li><a href="/wiki/Contract_for_difference" title="Contract for difference">Contract for difference</a></li> <li><a href="/wiki/Credit-linked_note" title="Credit-linked note">Credit-linked note (CLN)</a></li> <li><a href="/wiki/Credit_default_option" title="Credit default option">Credit default option</a></li> <li><a href="/wiki/Credit_derivative" title="Credit derivative">Credit derivative</a></li> <li><a href="/wiki/Equity-linked_note" title="Equity-linked note">Equity-linked note (ELN)</a></li> <li><a href="/wiki/Equity_derivative" title="Equity derivative">Equity derivative</a></li> <li><a href="/wiki/Foreign_exchange_derivative" title="Foreign exchange derivative">Foreign exchange derivative</a></li> <li><a href="/wiki/Fund_derivative" title="Fund derivative">Fund derivative</a></li> <li><a href="/wiki/Fund_of_funds" title="Fund of funds">Fund of funds</a></li> <li><a href="/wiki/Interest_rate_derivative" title="Interest rate derivative">Interest rate derivative</a></li> <li><a href="/wiki/Mortgage-backed_security" title="Mortgage-backed security">Mortgage-backed security</a></li> <li><a href="/wiki/Power_reverse_dual-currency_note" title="Power reverse dual-currency note">Power reverse dual-currency note (PRDC)</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Market issues</th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Consumer_debt" title="Consumer debt">Consumer debt</a></li> <li><a href="/wiki/Corporate_bond" title="Corporate bond">Corporate debt</a></li> <li><a href="/wiki/Government_debt" title="Government debt">Government debt</a></li> <li><a href="/wiki/Great_Recession" title="Great Recession">Great Recession</a></li> <li><a href="/wiki/Municipal_debt" class="mw-redirect" title="Municipal debt">Municipal debt</a></li> <li><a href="/wiki/Tax_policy" title="Tax policy">Tax policy</a></li></ul> </div></td></tr><tr><td class="navbox-abovebelow" colspan="2"><div> <ul><li><span class="nowrap"><span class="noviewer" typeof="mw:File"><a href="/wiki/File:Emblem-money.svg" class="mw-file-description"><img alt="icon" src="//upload.wikimedia.org/wikipedia/commons/thumb/f/f3/Emblem-money.svg/16px-Emblem-money.svg.png" decoding="async" width="16" height="16" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/f/f3/Emblem-money.svg/24px-Emblem-money.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/f/f3/Emblem-money.svg/32px-Emblem-money.svg.png 2x" data-file-width="48" data-file-height="48" /></a></span> </span><a href="/wiki/Portal:Business" title="Portal:Business">Business portal</a></li></ul> </div></td></tr></tbody></table></div> <div class="navbox-styles"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236075235"></div><div role="navigation" class="navbox" aria-labelledby="Real_estate" style="padding:3px"><table class="nowraplinks hlist mw-collapsible mw-collapsed navbox-inner" style="border-spacing:0;background:transparent;color:inherit"><tbody><tr><th scope="col" class="navbox-title" colspan="2"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1239400231"><div class="navbar plainlinks hlist navbar-mini"><ul><li class="nv-view"><a href="/wiki/Template:Real_estate" title="Template:Real estate"><abbr title="View this template">v</abbr></a></li><li class="nv-talk"><a href="/wiki/Template_talk:Real_estate" title="Template talk:Real estate"><abbr title="Discuss this template">t</abbr></a></li><li class="nv-edit"><a href="/wiki/Special:EditPage/Template:Real_estate" title="Special:EditPage/Template:Real estate"><abbr title="Edit this template">e</abbr></a></li></ul></div><div id="Real_estate" style="font-size:114%;margin:0 4em"><a href="/wiki/Real_estate" title="Real estate">Real estate</a></div></th></tr><tr><td class="navbox-abovebelow" colspan="2"><div> <ul><li><a href="/wiki/Property" title="Property">Property</a></li> <li><a href="/wiki/Tertiary_sector_of_the_economy" title="Tertiary sector of the economy">Tertiary sector of the economy</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">By location</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Real_estate_in_Bangladesh" title="Real estate in Bangladesh">Bangladesh</a></li> <li><a href="/wiki/Real_estate_in_Canada" class="mw-redirect" title="Real estate in Canada">Canada</a></li> <li><a href="/wiki/Real_estate_in_China" title="Real estate in China">China</a></li> <li><a href="/wiki/Real_estate_in_Indonesia" class="mw-redirect" title="Real estate in Indonesia">Indonesia</a></li> <li><a href="/wiki/Real_estate_in_Italy" title="Real estate in Italy">Italy</a></li> <li><a href="/wiki/Real_estate_in_Turkey" class="mw-redirect" title="Real estate in Turkey">Turkey</a></li> <li><a href="/wiki/Real_estate_in_Kenya" title="Real estate in Kenya">Kenya</a></li> <li><a href="/wiki/Real_estate_in_Pakistan" title="Real estate in Pakistan">Pakistan</a></li> <li><a href="/wiki/Real_estate_in_Panama" title="Real estate in Panama">Panama</a></li> <li><a href="/wiki/Real_estate_in_Puerto_Rico" title="Real estate in Puerto Rico">Puerto Rico</a></li> <li><a href="/wiki/Real_estate_in_Russia" class="mw-redirect" title="Real estate in Russia">Russia</a></li> <li><a href="/wiki/Real_estate_in_Saudi_Arabia" class="mw-redirect" title="Real estate in Saudi Arabia">Saudi Arabia</a></li> <li><a href="/wiki/Real_estate_in_the_United_Arab_Emirates" class="mw-redirect" title="Real estate in the United Arab Emirates">United Arab Emirates</a></li> <li><a href="/wiki/Real_estate_in_the_United_Kingdom" title="Real estate in the United Kingdom">United Kingdom</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Types</th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Commercial_property" title="Commercial property">Commercial property</a> <ul><li><a href="/wiki/Commercial_building" class="mw-redirect" title="Commercial building">Commercial building</a></li></ul></li> <li><a href="/wiki/Corporate_Real_Estate" class="mw-redirect" title="Corporate Real Estate">Corporate Real Estate</a></li> <li><a href="/wiki/Extraterrestrial_real_estate" title="Extraterrestrial real estate">Extraterrestrial real estate</a></li> <li><a href="/wiki/International_real_estate" title="International real estate">International real estate</a></li> <li><a href="/wiki/Lease_administration" title="Lease administration">Lease administration</a></li> <li><a href="/wiki/Niche_real_estate" title="Niche real estate">Niche real estate</a> <ul><li><a href="/wiki/Garden_real_estate" class="mw-redirect" title="Garden real estate">Garden real estate</a></li> <li><a href="/wiki/Healthcare_real_estate" title="Healthcare real estate">Healthcare real estate</a></li> <li><a href="/wiki/Vacation_property" class="mw-redirect" title="Vacation property">Vacation property</a></li> <li><a href="/wiki/Arable_land" title="Arable land">Arable land</a></li> <li><a href="/wiki/Golf_property" title="Golf property">Golf property</a></li> <li><a href="/wiki/Luxury_real_estate" class="mw-redirect" title="Luxury real estate">Luxury real estate</a></li></ul></li> <li><a href="/wiki/Off-plan_property" title="Off-plan property">Off-plan property</a></li> <li><a href="/wiki/Private_equity_real_estate" title="Private equity real estate">Private equity real estate</a></li> <li><a href="/wiki/Real_estate_owned" title="Real estate owned">Real estate owned</a></li> <li><a href="/wiki/Residential_property" class="mw-redirect" title="Residential property">Residential property</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Sectors</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Property_management" title="Property management">Property management</a></li> <li><a href="/wiki/Real_estate_development" title="Real estate development">Real estate development</a></li> <li><a href="/wiki/Real_estate_investing" title="Real estate investing">Real estate investing</a></li> <li><a href="/wiki/Flipping" title="Flipping">Real estate flipping</a></li> <li><a href="/wiki/Relocation_service" title="Relocation service">Relocation</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Property_law" title="Property law">Law</a> and regulation</th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Adverse_possession" title="Adverse possession">Adverse possession</a></li> <li><a href="/wiki/Chain_of_title" title="Chain of title">Chain of title</a></li> <li><a href="/wiki/Closing_(real_estate)" title="Closing (real estate)">Closing</a></li> <li><a href="/wiki/Concurrent_estate" title="Concurrent estate">Concurrent estate</a></li> <li><a href="/wiki/Conditional_sale" title="Conditional sale">Conditional sale</a></li> <li><a href="/wiki/Conveyancing" title="Conveyancing">Conveyancing</a></li> <li><a href="/wiki/Deed" title="Deed">Deed</a></li> <li><a href="/wiki/Eminent_domain" title="Eminent domain">Eminent domain</a></li> <li><a href="/wiki/Encumbrance" title="Encumbrance">Encumbrance</a></li> <li><a href="/wiki/Foreclosure" title="Foreclosure">Foreclosure</a></li> <li><a href="/wiki/Land_law" title="Land law">Land law</a></li> <li><a href="/wiki/Land_registration" title="Land registration">Land registration</a></li> <li><a href="/wiki/Leasehold_estate" title="Leasehold estate">Leasehold estate</a> <ul><li><a href="/wiki/Lease" title="Lease">Lease</a></li></ul></li> <li><a href="/wiki/Property_abstract" title="Property abstract">Property abstract</a></li> <li><a href="/wiki/Real_estate_transaction" title="Real estate transaction">Real estate transaction</a> <ul><li><a href="/wiki/Real_estate_contract" title="Real estate contract">Real estate contract</a></li></ul></li> <li><a href="/wiki/Real_property" title="Real property">Real property</a></li> <li><a href="/wiki/Rent_regulation" title="Rent regulation">Rent regulation</a></li> <li><a href="/wiki/Severance_(land)" title="Severance (land)">Severance</a></li> <li><a href="/wiki/Torrens_title" title="Torrens title">Torrens title</a></li> <li><a href="/wiki/Zoning" title="Zoning">Zoning</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Economics, financing<br />and valuation</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Asset-based_lending" title="Asset-based lending">Asset-based lending</a></li> <li><a href="/wiki/Capitalization_rate" title="Capitalization rate">Capitalization rate</a></li> <li><a href="/wiki/Effective_gross_income" title="Effective gross income">Effective gross income</a></li> <li><a href="/wiki/Gross_rent_multiplier" title="Gross rent multiplier">Gross rent multiplier</a></li> <li><a href="/wiki/Hard_money_loan" title="Hard money loan">Hard money loan</a></li> <li><a href="/wiki/Highest_and_best_use" title="Highest and best use">Highest and best use</a></li> <li><a href="/wiki/Home_equity_loan" title="Home equity loan">Home equity loan</a></li> <li><a href="/wiki/Investment_rating_for_real_estate" title="Investment rating for real estate">Investment rating for real estate</a></li> <li><a href="/wiki/Mortgage_insurance" title="Mortgage insurance">Mortgage insurance</a></li> <li><a href="/wiki/Mortgage_loan" class="mw-redirect" title="Mortgage loan">Mortgage loan</a></li> <li><a class="mw-selflink selflink">Real estate derivative</a></li> <li><a href="/wiki/Real_estate_economics" title="Real estate economics">Real estate economics</a></li> <li><a href="/wiki/Real_estate_bubble" class="mw-redirect" title="Real estate bubble">Real estate bubble</a></li> <li><a href="/wiki/Real_estate_valuation" class="mw-redirect" title="Real estate valuation">Real estate valuation</a></li> <li><a href="/wiki/Remortgage" title="Remortgage">Remortgage</a></li> <li><a href="/wiki/Rental_value" title="Rental value">Rental value</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Parties</th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Real_estate_appraisal" title="Real estate appraisal">Appraiser</a></li> <li><a href="/wiki/Buyer_agent" class="mw-redirect" title="Buyer agent">Buyer agent</a></li> <li><a href="/wiki/Buyer_broker" class="mw-redirect" title="Buyer broker">Buyer broker</a></li> <li><a href="/wiki/Chartered_Surveyor" title="Chartered Surveyor">Chartered Surveyor</a></li> <li><a href="/wiki/Exclusive_buyer_agent" title="Exclusive buyer agent">Exclusive buyer agent</a></li> <li><a href="/wiki/Land_banking" title="Land banking">Land banking</a></li> <li><a href="/wiki/Landlord" title="Landlord">Landlord</a></li> <li><a href="/wiki/Moving_company" title="Moving company">Moving company</a></li> <li><a href="/wiki/Property_manager" title="Property manager">Property manager</a></li> <li><a href="/wiki/Real_estate_agent" title="Real estate agent">Real estate broker</a></li> <li><a href="/wiki/Real_estate_investment_club" title="Real estate investment club">Real estate investment club</a></li> <li><a href="/wiki/Real_estate_investment_trust" title="Real estate investment trust">Real estate investment trust</a></li> <li><a href="/wiki/Real_property_administrator" class="mw-redirect" title="Real property administrator">Real property administrator</a></li> <li><a href="/wiki/Leasehold_estate" title="Leasehold estate">Tenant</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Other</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Category:Real_estate_companies" title="Category:Real estate companies">Companies</a></li> <li><a href="/wiki/Eviction" title="Eviction">Eviction</a></li> <li><a href="/wiki/Filtering_(housing)" title="Filtering (housing)">Filtering</a></li> <li><a href="/wiki/Gentrification" title="Gentrification">Gentrification</a></li> <li><a href="/wiki/Graduate_real_estate_education" class="mw-redirect" title="Graduate real estate education">Graduate real estate education</a></li> <li><a href="/wiki/Green_belt" title="Green belt">Green belt</a></li> <li><a href="/wiki/Category:Real_estate_indices" title="Category:Real estate indices">Indices</a></li> <li><a href="/wiki/Category:Real_estate_industry_trade_groups" title="Category:Real estate industry trade groups">Industry trade groups</a></li> <li><a href="/wiki/List_of_real_estate_investment_firms" title="List of real estate investment firms">Investment firms</a></li> <li><a href="/wiki/Land_banking" title="Land banking">Land banking</a></li> <li><a href="/wiki/Category:Businesspeople_in_real_estate" title="Category:Businesspeople in real estate">People</a></li> <li><a href="/wiki/Property_cycle" title="Property cycle">Property cycle</a></li> <li><a href="/wiki/Real_estate_trends" title="Real estate trends">Real estate trends</a></li> <li><a href="/wiki/Undergraduate_real_estate_programs" class="mw-redirect" title="Undergraduate real estate programs">Undergraduate real estate programs</a></li> <li><a href="/wiki/Urban_decay" title="Urban decay">Urban decay</a></li> <li><a href="/wiki/Urban_planning" title="Urban planning">Urban planning</a></li> <li><a href="/wiki/List_of_housing_markets_by_real_estate_prices" class="mw-redirect" title="List of housing markets by real estate prices">List of housing markets by real estate prices</a></li></ul> </div></td></tr><tr><td class="navbox-abovebelow" colspan="2"><div> <ul><li> <span class="noviewer" typeof="mw:File"><span title="Category"><img alt="" src="//upload.wikimedia.org/wikipedia/en/thumb/9/96/Symbol_category_class.svg/16px-Symbol_category_class.svg.png" decoding="async" width="16" height="16" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/en/thumb/9/96/Symbol_category_class.svg/23px-Symbol_category_class.svg.png 1.5x, //upload.wikimedia.org/wikipedia/en/thumb/9/96/Symbol_category_class.svg/31px-Symbol_category_class.svg.png 2x" data-file-width="180" data-file-height="185" /></span></span> <b><a href="/wiki/Category:Real_estate" title="Category:Real estate">Category</a></b></li> <li> <span class="noviewer" typeof="mw:File"><span title="Commons page"><img alt="" src="//upload.wikimedia.org/wikipedia/en/thumb/4/4a/Commons-logo.svg/12px-Commons-logo.svg.png" decoding="async" width="12" height="16" class="mw-file-element" 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