Fall/Winter 1983, Vol 8, No 2

Abstract: The author reviews diversification methods for real estate portfolios on a local, national and international basis. The international real estate portfolio is hypothesized to contain less correlated ventures and therefore less portfolio return variability than the local or national portfolios. It is pointed out that this hypothesis deserves further empirical research, especially in light of some limitations to a portfolio builder’s desire to operationalize the idea.