Professor Bryan MacGregor

BSc (Hons); MSc; PhD; DipSurv; CertHE; MRTPI; MRICS

MacRobert Professor of Land Economy

About

b.d.macgregor@abdn.ac.uk

+44 (0)1224 272356

Room S73, Edward Wright Building
Dunbar Street
King’s College
University of Aberdeen
Old Aberdeen
AB24 3QY

Business School

Biography

1971 - 75 B.Sc. (Hons) Mathematics; University of Edinburgh
1976 - 78 M.Sc. Environmental Planning; Heriot-Watt University
1978 - 81 Ph.D. Land Economy; University of Cambridge
1992 - 93 Diploma in Surveying (Part-time and distance learning); College of Estate Management, Reading
2000 - 01 Certificate in Higher Education (Cùrsa Comais - Gaelic immersion course); Sabhal Mòr Ostaig, Sleat, Isle of Skye

Research

Research Overview

Property market economics, investment and finance.

Research Areas

Real Estate

Supervising

View Research Area

Research Specialisms

Real Estate
Economics
Financial Economics

Our research specialisms are based on the Higher Education Classification of Subjects (HECoS) which is HESA open data, published under the Creative Commons Attribution 4.0 International licence.

Current Research

Modelling US office markets in terms of rent, vacancy rates and new development
Fund manager performance
An analysis of real estate auction behaviours

Publications

Page 1 of 2 Results 1 to 50 of 74

Do the Managers of Global Real Estate Mutual Funds Have Skills?
2022 - E-pub ahead of print
MacGregor, B., Schulz, R., Zhao, Y.
Journal of Real Estate Research
Contributions to Journals: Articles
- [ONLINE] DOI: https://doi.org/10.1080/08965803.2022.2033398
Performance and Market Maturity in Mutual Funds: Is Real Estate Different?
2021 - Published
MacGregor, B. D., Schulz, R., Zhao, Y.
The Journal of Real Estate Finance and Economics, vol. 63, pp. 437–492
Contributions to Journals: Articles
- [ONLINE] DOI: https://doi.org/10.1007/s11146-020-09787-0
- [OPEN ACCESS] http://aura.abdn.ac.uk/bitstream/2164/16973/2/MacGregor_etal_JREFE_Performance_And_Market_VOR.pdf
- [ONLINE] View publication in Scopus
Adjustments in the Labor and Real Estate Markets: Estimates of the Time Series Variation in the Natural Vacancy Rate
2021 - Published
Black, A. J., Devaney, S., Hendershott, P. H., MacGregor, B. D.
Journal of Real Estate Literature, vol. 29, no. 2, pp. 83-108
Contributions to Journals: Articles
- [ONLINE] DOI: https://doi.org/10.1080/09277544.2021.2006876
Adjustments in the Labor and Real Estate Markets: Estimates of the Time Series Variation in the Natural Vacancy Rate
2020 - Published
Black, A. J., Devaney, S. P., Hendershott, P. H., MacGregor, B. D.
Working Papers and Discussion Papers: Discussion Papers
- [OPEN ACCESS] http://aura.abdn.ac.uk/bitstream/2164/16528/1/DP_20_7.pdf
Do the Managers of Global Real Estate Mutual Funds Have Skills?
2020 - Published
MacGregor, B., Schulz, R., Zhao, Y.
Working Papers and Discussion Papers: Discussion Papers
- [OPEN ACCESS] http://aura.abdn.ac.uk/bitstream/2164/15722/1/DP_20_6.pdf
Performance and Market Maturity in Mutual Funds: Is Real Estate Different?
2020 - Published
MacGregor, B., Schulz, R., Zhao, Y.
Working Papers and Discussion Papers: Discussion Papers
- [OPEN ACCESS] https://pure.abdn.ac.uk/ws/files/171249585/DP_20_5.pdf
- [ONLINE] View publication in Scopus
Global Real Estate Mutual Funds: Managerial Skills and Diversification Benefits?
2019 - Published
MacGregor, B., Schulz, R., Zhao, Y.
Working Papers and Discussion Papers: Working Papers
- [OPEN ACCESS] http://aura.abdn.ac.uk/bitstream/2164/15719/1/Global_Real_Estate_Mutual_Funds_Managerial_Skills_and_Diversification_Benefits_.pdf
Introduction to real estate investment
2018 - Published
MacGregor, B. D., Schulz, R., Green, R. K.
Routledge Companion to Real Estate Investment. MacGregor, B. D., Schulz, R., Green, R. K. (eds.). Routledge, pp. 3-7, 5 pages
Chapters in Books, Reports and Conference Proceedings: Chapters
Pricing models
2018 - Published
MacGregor, B. D., Schulz, R., Zhao, Y. Y.
Routledge Companion to Real Estate Investment. MacGregor, B. D., Schulz, R., Green, R. K. (eds.). Routledge, pp. 215-231, 17 pages
Chapters in Books, Reports and Conference Proceedings: Chapters
Real options in real estate
2018 - Published
MacGregor, B. D., Schulz, R., Sing, T. F.
Routledge Comapnion to Real Estate Investment. MacGregor, B. D., Schulz, R., Green, R. K. (eds.). Routledge, pp. 232-250, 19 pages
Chapters in Books, Reports and Conference Proceedings: Chapters
Routledge Companion to Real Estate Investment
2018 - Published
MacGregor, B. D. (ed.), Schulz, R. (ed.), Green, R. K. (ed.)
Routledge. 346 pages
Books and Reports: Books
An Investigation of Hurdle Rates in the Real Estate Investment Process
2017 - Published
Hutchison, N. E., Lizieri, C., MacGregor, B. D., Mansley, N., Portlock, R., Schulz, R., Zhao, Y. Y.
Investment Property Forum
Books and Reports: Commissioned Reports
- [ONLINE] http://www.ipf.org.uk/resourceLibrary/an-investigation-of-hurdle-rates-in-the-real-estate-investment-process--may-2017--full-report.html
Modelling Office Market Dynamics: Panel Estimation and Comparison of US Metropolitan Areas
2016 - Unpublished
MacGregor, B. D., Hendershott, P. H., Devaney, S., Nanda, A.
Contributions to Conferences: Papers
Modeling Space Market Dynamics: An Illustration Using Panel Data for US Retail
2013 - Published
Hendershott, P. H., Jennen, M., MacGregor, B. D.
The Journal of Real Estate Finance and Economics, vol. 47, no. 4, pp. 659-687
Contributions to Journals: Articles
- [ONLINE] DOI: https://doi.org/10.1007/s11146-013-9426-z
- [OPEN ACCESS] http://aura.abdn.ac.uk/bitstream/2164/3086/1/Modeling_Space_Market_dynamics.doc
Modelling office market dynamics: panel estimation and comparison of US metropolitan areas
2012 - Unpublished
MacGregor, B. D., Hendershott, P. H., Devaney, S.
Contributions to Conferences: Papers
- [ONLINE] https://ideas.repec.org/p/arz/wpaper/eres2012_255.html
Modeling space market dynamics
2012 - Published
MacGregor, B. D., Hendershott, P. H., Jennen, M.
Chapters in Books, Reports and Conference Proceedings: Conference Proceedings
The Sensitivity of UK Commercial Property Values to Interest Rates Changes
2012 - Published
MacGregor, B. D., Nanthakumanran, N., Orr, A. M.
Journal of Property Research, vol. 29, no. 2, pp. 123-151
Contributions to Journals: Articles
- [ONLINE] DOI: https://doi.org/10.1080/09599916.2011.645861
Modeling Space Market Dynamics: An Illustration Using Panel Data for US Retail
2011 - Unpublished
MacGregor, B. D., Hendershott, P. H., Jennen, M.
Contributions to Conferences: Papers
Asymmetric adjustment in the City of London office market
2010 - Published
Hendershott, P. H., Lizieri, C. M., MacGregor, B. D.
The Journal of Real Estate Finance and Economics, vol. 41, no. 1, pp. 80-101
Contributions to Journals: Articles
- [ONLINE] DOI: https://doi.org/10.1007/s11146-009-9199-6
Analyzing Time Series and Cross Section Rent Data: An Illustration Using US Retail Data
2010 - Published
MacGregor, B. D., Hendershott, P. H., Jennen, M.
Contributions to Conferences: Papers
- [OPEN ACCESS] http://aura.abdn.ac.uk/bitstream/2164/12885/1/AREUEA_US_Retail_2010_Final.pdf
Modeling Space Market Dynamics: An Illustration Using Panel Data for US Retail
2009 - Published
Brounen, D., Hendershott, P., Jennen, M., MacGregor, B.
AREUEA International
Contributions to Conferences: Abstracts
Height restrictions and the decision to build an office tower
2008 - Published
MacGregor, B. D., Schwann, G.
AREUEA International Conference
Contributions to Conferences: Abstracts
The inflation hedging characteristics of US and UK investments: A multi-factor error correction approach
2008 - Published
Hoesli, M., Lizieri, C., MacGregor, B.
The Journal of Real Estate Finance and Economics, vol. 36, no. 2, pp. 183-206
Contributions to Journals: Articles
- [ONLINE] DOI: https://doi.org/10.1007/s11146-007-9062-6
Evidence on rationality in commercial property markets: an interpretation and critique
2006 - Accepted/In press
Hendershott, P., Hendershott, R., MacGregor, B.
Journal of Real Estate Literature, vol. 14, no. 2, pp. 147-172
Contributions to Journals: Articles
- [ONLINE] http://aresjournals.org/doi/abs/10.5555/reli.14.2.q6u0277u81440188
Evidence of rationality in commercial property markets: an interpretation and critique
2005 - Published
MacGregor, B. D., Hendershott, P. H., Hendershott, R.
Working Papers and Discussion Papers: Working Papers
In search of commercial real estate bubbles
2005 - Accepted/In press
Hendershott, P. H., Hendershott, R. J., MacGregor, B. D.
Research Review (Journal of the International Council of Shopping Centers)
Contributions to Journals: Articles
Investor Rationality: An Analysis of NCREIF Commercial Property Data
2005 - Published
Hendershott, P. H., MacGregor, B. D.
Journal of Real Estate Research, vol. 27, no. 4, pp. 445-475
Contributions to Journals: Articles
- [ONLINE] DOI: https://doi.org/10.1080/10835547.2005.12091167
Investor Rationality: Evidence from UK Capitalization Rates
2005 - Published
Hendershott, P. H., MacGregor, B. D.
.
Other Contributions: Other Contributions
Investor rationality: evidence from UK property capitalization rates
2005 - Published
MacGregor, B. D., Hendershott, P. H.
Real Estate Economics, vol. 33, no. 2, pp. 299-322
Contributions to Journals: Articles
- [ONLINE] DOI: https://doi.org/10.1111/j.1540-6229.2005.00120.x
Time-varying Betas and Cross-Sectional Return-Risk Relation: Evidence from the UK
2004 - Published
Fraser, P., MacGregor, B. D., Hoesli, M. E. R., Hamelink, F.
European Journal of Finance, vol. 10, no. 4, pp. 255-276
Contributions to Journals: Articles
- [ONLINE] DOI: https://doi.org/10.1080/13518470110053407
Appraisal smoothing and price discovery in real estate markets
2003 - Published
Geltner, D., MacGregor, B. D., Schwann, G.
Urban Studies, vol. 40, no. 5-6, pp. 1047-1064
Contributions to Journals: Articles
- [ONLINE] DOI: https://doi.org/10.1080/0042098032000074317
Common features in UK real estate returns
2003 - Published
MacGregor, B. D., Schwann, G.
Journal of Property Research, vol. 20, no. 1, pp. 23-48
Contributions to Journals: Articles
- [ONLINE] DOI: https://doi.org/10.1080/09599910210155518
Investor Rationality: Evidence from UK Property Capitalization Rates
2003 - Published
Hendershott, P. H., MacGregor, B. D.
Working Papers and Discussion Papers: Working Papers
Lease terms, option pricing and the financial characteristics of property
2003 - Published
Adams, A. T., Booth, P. M., MacGregor, B. D.
British Actuarial Journal, vol. 9, no. 3, pp. 619-635
Contributions to Journals: Articles
Migration, Gaelic-medium Education and Language
2003 - Published
MacGregor, B. D., Munro, G., Stockdale, A.
Sabhal Mor Ostaig: National Centre for Migration Studies. 69 pages
Books and Reports: Commissioned Reports
Modelling and accounting for sustainable development
2003 - Published
Bebbington, J., MacGregor, B. D.
Royal Institution of Chartered Surveyors (RICS)
Books and Reports: Commissioned Reports
Explaining Real Commercial Rents Using an Error Correction Model with Panel Data
2002 - Published
Hendershott, P. H., MacGregor, B. D., White, M.
The Journal of Real Estate Finance and Economics, vol. 24, no. 1-2, pp. 59-87
Contributions to Journals: Articles
- [ONLINE] DOI: https://doi.org/10.1023/A:1013930304732
Estimation of the Rental Adjustment Process
2002 - Published
Hendershott, P. H., MacGregor, B. D., Tse, R.
Real Estate Economics, vol. 30, no. 2, pp. 165-184
Contributions to Journals: Articles
- [ONLINE] DOI: https://doi.org/10.1111/1540-6229.00036
The duration of UK commercial property and equities
2002 - Published
Hamelink, F., MacGregor, B. D., Nanthakumanran, N., Orr, A.
Journal of Property Research, vol. 19, no. 1, pp. 61-80
Contributions to Journals: Articles
- [ONLINE] DOI: https://doi.org/10.1080/09599910110079631
Price discovery in the Hong Kong real estate market
2001 - Published
Chau, K. W., MacGregor, B. D., Schwann, G.
Journal of Property Research, vol. 18, no. 3, pp. 187-216
Contributions to Journals: Articles
- [ONLINE] DOI: https://doi.org/10.1080/09599910110060064
Forecasting techniques for urban and regional planning: the living environment
2000 - Published
Field, B., MacGregor, B. D.
Nelson Thornes Ltd, Cheltenham, United Kingdom. 238 pages
Books and Reports: Books
Property investment: Principles and practice of portfolio management
2000 - Published
Hoesli, M. E. R., MacGregor, B. D.
Pearson Education, Edinburgh, United Kingdom. 304 pages
Books and Reports: Books
Homogeneous commercial property market groupings and portfolio construction in the United Kingdom
2000 - Published
Hamelink, F., Hoesli, M., Lizieri, C., MacGregor, B. D.
Environment and Planning A, vol. 32, pp. 323-344
Contributions to Journals: Articles
Defining housing submarkets
1999 - Published
Bourassa, S. C., Hamelink, F., Hoesli, M., MacGregor, B. D.
Journal of Housing Economics, vol. 8, pp. 160-183
Contributions to Journals: Articles
Housing vacancy and rental adjustment: Evidence from Hong Kong
1999 - Published
Tse, R. Y. C., MacGregor, B. D.
Urban Studies, vol. 36, pp. 1769-1782
Contributions to Journals: Articles
Property investment appraisal
1999 - Published
MacGregor, B. D.
British Actuarial Journal, vol. 5, no. 5, pp. 955-982
Contributions to Journals: Articles
Real estate in mixed-asset portfolios: a review, part 2
1999 - Published
MacGregor, B. D., Hoesli, M. E. R.
Quaderni di Diritto ed Economia del Territorio , vol. 2, no. 2, pp. 31-45
Contributions to Journals: Articles
Real estate in mixed-asset portfolios: a review, part 1
1999 - Published
MacGregor, B. D., Hoesli, M. E. R.
Quaderni di Diritto ed Economia del Territorio , vol. 2, no. 2, pp. 31-45
Contributions to Journals: Articles
Real estate price and total return indices: an overview of methods
1999 - Published
MacGregor, B. D., Hoesli, M. E. R.
Quaderni di Diritto ed Economia del Territorio , vol. 2, no. 1, pp. 2-24
Contributions to Journals: Articles
The economics of commercial property markets
1998 - Published
Ball, M., Lizieri, C., MacGregor, B. D.
Routledge, London, United Kingdom. 416 pages
Books and Reports: Books

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Professor Bryan MacGregor

Biography

Research Overview

Research Areas

Real Estate

Research Specialisms

Current Research

Do the Managers of Global Real Estate Mutual Funds Have Skills?

Performance and Market Maturity in Mutual Funds: Is Real Estate Different?

Adjustments in the Labor and Real Estate Markets: Estimates of the Time Series Variation in the Natural Vacancy Rate

Adjustments in the Labor and Real Estate Markets: Estimates of the Time Series Variation in the Natural Vacancy Rate

Do the Managers of Global Real Estate Mutual Funds Have Skills?

Performance and Market Maturity in Mutual Funds: Is Real Estate Different?

Global Real Estate Mutual Funds: Managerial Skills and Diversification Benefits?

Introduction to real estate investment

Pricing models

Real options in real estate

Routledge Companion to Real Estate Investment

An Investigation of Hurdle Rates in the Real Estate Investment Process

Modelling Office Market Dynamics: Panel Estimation and Comparison of US Metropolitan Areas

Modeling Space Market Dynamics: An Illustration Using Panel Data for US Retail

Modelling office market dynamics: panel estimation and comparison of US metropolitan areas

Modeling space market dynamics

The Sensitivity of UK Commercial Property Values to Interest Rates Changes

Modeling Space Market Dynamics: An Illustration Using Panel Data for US Retail

Asymmetric adjustment in the City of London office market

Analyzing Time Series and Cross Section Rent Data: An Illustration Using US Retail Data

Modeling Space Market Dynamics: An Illustration Using Panel Data for US Retail

Height restrictions and the decision to build an office tower

The inflation hedging characteristics of US and UK investments: A multi-factor error correction approach

Evidence on rationality in commercial property markets: an interpretation and critique

Evidence of rationality in commercial property markets: an interpretation and critique

In search of commercial real estate bubbles

Investor Rationality: An Analysis of NCREIF Commercial Property Data

Investor Rationality: Evidence from UK Capitalization Rates

Investor rationality: evidence from UK property capitalization rates

Time-varying Betas and Cross-Sectional Return-Risk Relation: Evidence from the UK

Appraisal smoothing and price discovery in real estate markets

Common features in UK real estate returns

Investor Rationality: Evidence from UK Property Capitalization Rates

Lease terms, option pricing and the financial characteristics of property

Migration, Gaelic-medium Education and Language

Modelling and accounting for sustainable development

Explaining Real Commercial Rents Using an Error Correction Model with Panel Data

Estimation of the Rental Adjustment Process

The duration of UK commercial property and equities

Price discovery in the Hong Kong real estate market

Forecasting techniques for urban and regional planning: the living environment

Property investment: Principles and practice of portfolio management

Homogeneous commercial property market groupings and portfolio construction in the United Kingdom

Defining housing submarkets

Housing vacancy and rental adjustment: Evidence from Hong Kong

Property investment appraisal

Real estate in mixed-asset portfolios: a review, part 2

Real estate in mixed-asset portfolios: a review, part 1

Real estate price and total return indices: an overview of methods

The economics of commercial property markets

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