In recent years real estate investment has witnessed an unprecedented internationalisation.
However national markets largely continue to be shaped by domestic law and local business
practices. This book provides a comparison of the British and German property markets which
are Europe's most important and discusses key elements of the economics of leasing. Applying
the theory of long-term contracts and the economic analysis of bankruptcy law to leases it
examines in detail the regulations pertaining to rent adjustment and tenant default which can
substantially impact investment performance. The prevailing rent adjustment mechanisms such as
rent review and indexation are discussed. A comparison is made of the remedies available to
landlords of defaulting tenants under both jurisdictions.
