Abstract
This paper is the second edition of a paper presented last winter to the Glasgow Actuarial Students' Society and the Faculty of Actuaries Students' Society. It has been written with a view to giving some information to those who have no experience at all of property investment and also to stimulate discussion among the actuarial investment pundits. It has been written in the context of investment by old established Life Offices and large Pension Funds only (referred to as ‘Institutions’) unless the text states otherwise.Part I is on similar lines to Binns, Chapter 16. Part II pursues some aspects in greater detail and is rather more opinionated, and it is hoped that those with experience of property investing will, in discussion, rise to the baits offered.
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