The effect of ground leases on house prices in Helsinki

One imperfection in housing markets is imperfect knowledge about legal interests such as ground leases. Both actual reduced legal interest as well as uncertainty surrounding rights and future lease payments for houses constructed on leased land may affect prices relative to houses built on freehold land. We use regression analysis of sales prices of condominium transactions in Helsinki to examine the effect ground leases have on house prices. We find that prices on condominiums constructed on leased lots are discounted at least 5 %, on average. In addition, we see that the announcement of potentially large increases in base rents upon renewal contributes to the discount.

Meeting of the Joint Distribution Committee and the Executive Committee of the American Jewish Relief Committee 1918 in New York

Reproduction of a painting of a meeting of the Joint Distribution Committee (representing the American Jewish Relief Committee, the Central Rellief Committee and the People's Relief Committee) and the Executive Committee of the American Jewish Relief Committee, with chairman Felix Warburg, secretary Albert Lucas, stenographer Mrs. F. Friedman, executive director Boris Bogen, comptroller Harriet Lowenstein, associate treasurer Paul Baerwald and treasurer Arthur Lehman; Office of Mr. Felix M. Warburg, 52 William Street, New York

Studio portrait of Sarah-Bertha Klarenmeyer nee Meyerhof called "Spatz" as a young woman. portraits women

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Studio portrait of Sarah-Bertha Klarenmeyer nee Meyerhof called Spatz Portrait Women

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Studio portrait of Moritz "Mori" Meyerhof. Portraits Men

Verso: Moritz Meyerhof (Mori) Meyerhof (29. April 1867 in Hildesheim?); p. 12 of the Stammtafeln die Familie Meyerhof. Donated by his nephew Hillel (Herbert) Meyerhof.

Studio portrait of Betty Meyerhof. Portraits Women

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Portrait of Marianne Meyerhof nee Juedel Portraits Women

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Portrait of Dina Meyerhof nee Loebenberg. Portraits Women

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Portrait of the engaged couple Albert Meyerhof and Dina Loebenberg. Portraits Couples

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Portrait of Hermann Meyerhof.

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Portrait of Hillel Meyerhof; Israel.

Hillel (Herbert) Meyerhof, born 1912

Reiss family portrait; (l-r) Olga, Herbert, Flora Lotte, Walter, Moritz and Kurt; Saaz, Czechoslovakia Portraits Family

Olga Reiss nee Kohn died 1950s; Herbert Reiss, 1905-circa 1980; Flora Lotte "Lola" Reiss, 1910-1995; Walter Reiss, 1908-1937; Moritz Reiss, 1876-1965; Kurt Reiss, 1906-1996

Herbert Reiss with his wife Trude Loewy on the beach in England Portraits Couples

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Reiss family portrait on the occasion of the wedding of Harry Gould to Eva Fantl; Royal Connaught Hotel, Hamilton, Ontario.

Standing l-r: George? son of Max Reiss?, Max Reiss, Harry Gould, Moritz Reiss, Joe Reiss, and Herbert Reiss; Seated l-r: Trude Reiss (wife of Herbert), Else Reiss (mother of Joe), Lily Friedlander Gould, Eva Fantl Gould, Trude Reiss (wife of Joe), and Marta Reiss (wife of Max)