Scandinavian Working Papers in Economics

Working Paper Series,
Royal Institute of Technology, Department of Real Estate and Construction Management & Banking and Finance

No 20/15: Recent Trends in Real Estate Research: A Comparison of Recent Working Papers and Publications using Machine Learning Algorithms

Wolfgang Breuer () and Bertram Steininger ()
Additional contact information
Wolfgang Breuer: RWTH Aachen University, Department of Finance, Aachen, Germany, Postal: RWTH Aachen University, Department of Finance, Templergraben 64, 52056 Aachen, Germany
Bertram Steininger: Department of Real Estate and Construction Management, Royal Institute of Technology, Postal: Division of Real Estate Economics and Finance, Royal Institute of Technology, Teknikringen 10B, 100 44 Stockholm, Sweden

Abstract: This paper is organized as follows. In Section 1, we describe the economic relevance of the real estate sector and its recent dynamics. Then, we identify the most mentioned keywords of working papers presented at the real estate conferences between 2015 and 2019 and showing network figures for them in Section 2. In order to identify the newest trends, we rely on working papers since they have an average lead time of at least 1 to 2 years before they are published. In addition, we give a short overview of the articles published in this special issue. To get a better overview of the relevance of real estate related topics in finance, we analyzed the most relevant finance conferences and journals between 2015 and May 2020 in Section 3. To find the topics, we apply the text mining approach Latent Dirichlet Allocation (LDA), an unsupervised machine learning method. The real estate trends (retail, e-commerce) and the potential impact of COVID-19 is described in Section 4.

Keywords: Recent trends; Real estate; Machine learning; Latent Dirichlet Allocation; LDA

JEL-codes: C45; C80; R30

20 pages, December 28, 2020

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