The financial deregulation of the last quarter century has meant large flows of funds around the world seeking the highest risk-adjusted return for investors. Real estate is now established as an important asset class and advances in information technology provide the necessary tools to complement global developments in real estate finance and investment.

A variety of investment vehicles have emerged, andReal Estate Finance in the New Economy examines these along with financing and risk in the context of globalization, deregulation and an increasingly integrated international world economy by exploring questions like:

• How have real estate financial structures evolved as economies grow and become internationalised?
• What role do economic change and financial systems play in the development of real estate investment? 
• Are the risks associated with the 'new economy' really new?
• What is the future direction for real estate financing?

The authors develop an economic framework for discussions on individual financial products to examine how real estate financial structures change with economic growth and internationalisation and also to show how developments in real estate finance impact economic growth.

Piyush Tiwari is Associate Professor of Property, Faculty of Architecture, Building and Planning, University of Melbourne

Michael White is Professor of Real Estate Economics, School of Architecture, Design and the Built Environment, Nottingham Trent University