Franz Fuerst

Franz Fuerst

Professor of Real Estate and Urban Economics

Sustainable Real Estate · Climate Risk · Urban Economics

University of Cambridge · Department of Land Economy

Fellow, Academy of the Social Sciences J M Keynes Fellow in Financial Economics MPhil Chair of Examiners Co-Editor, Spatial Economic Analysis

Current Research

Investigating the economic implications of sustainable development through the lens of real estate markets, employing advanced econometric methods to understand climate risk pricing and market dynamics.

2025 Active

CHRG Multimorbidity

Econometric analysis of built environment factors contributing to multimorbidity patterns using UK Biobank, EPC Register and Land Registry data.

Principal Investigator Health Economics
2024-25 Active

Commercial Real Estate Indices

Contribution to European handbook of commercial real estate indices and indicators for Eurostat harmonisation.

Principal Investigator Market Analysis
2024 Octopus Energy

Octopus Zero Bills Homes

Large-scale regression modelling to determine willingness to pay for guaranteed zero utility bill home.

Co-PI Sustainability
2022 SwissLife

Natural Hazards & Swiss Real Estate

Hedonic modelling of price effects of natural hazards including flooding, heat stress and other adverse weather events.

Lead Researcher Climate Risk
2020-21 Cambridge

Health & Well-Being in Commercial Real Estate

Testing price effects of health and well-being features in office properties using certification data.

Principal Investigator Built Environment
2014-18 €2million

EU Horizon 2020 - RentalCal

Major EU-funded research programme on rental market calibration and energy efficiency in residential buildings across Europe.

Programme Lead EU Research

Research Areas

Green Buildings

Energy efficiency & certification impacts

Climate Risk

Physical & transition risk pricing

Portfolio Management

REITs & investment strategies

Valuation

Market segmentation & pricing

Machine Learning

Interpretable AI for real estate

Spatial Economics

Urban patterns & employment

Publications

2025

  • Fuerst, F.; Adams, S.; Pivo, G. (2025). Investing in 'Green' Commercial Real Estate: Frameworks and Metrics. Oxford Research Encyclopedia of Economics and Finance. Forthcoming
  • Chong, C.; Fuerst, F. (2025). Powered by Proximity? The Micro-Locational Behaviour of Knowledge-Intensive Businesses. Journal of the Knowledge Economy.
  • Ertl, P.; Fuerst, F. (2025). Physical Climate Risk in Real Estate: The Wildfire Risk Exposure of US REITs. Cambridge Journal of Climate Research, 2(1), 195-213.
  • Blok, F.J.; Fuerst, F. (2025). All Downhill from Here? Climate Change and House Prices in the Swiss Alps. Climate Risk Management, 49, 100728.
  • Blok, F.; Fuerst, F. (2025). Multiple Hazards and Residential Rents in Switzerland: Who Pays the Price of Extreme Natural Events? Ecological Economics, 230, 108485.

2024

  • Anderson, J.T.; Fuerst, F.; Peiser, R.B.; Seiler, M.J. (2024). iBuyer's Use of PropTech to Make Large-Scale Cash Offers. Journal of Real Estate Research, 46(1), 114-135. Best Paper 2024
  • Fuerst, F.; Banerjee, A.; Das, P. (2024). Are Green and Healthy Building Labels Counterproductive in Emerging Markets? Journal of Cleaner Production, 455, 141838.
  • Li, Q.; Zhang, E.; Luca, D.; Fuerst, F. (2024). The Travel Pattern Difference in Dockless Micro-Mobility: Shared E-Bikes Versus Shared Bikes. Transportation Research Part D, 130.
  • Akhtyrska, Y.; Fuerst, F. (2024). The Effectiveness of Climate Change Regulations in the Commercial Real Estate Market. Energy Policy, 185.

View complete publication list

Select a research area above to explore related publications

  • 2024 Journal of Real Estate Research Best Paper Prize
    Anderson, J.T.; Fuerst, F.; Peiser, R.B.; Seiler, M.J. (2024). iBuyer's Use of PropTech to Make Large-Scale Cash Offers. Journal of Real Estate Research, 46(1), 114-135.
  • 2022 ARES/CoStar Best Manuscript Award
    Co-authored with K. Minkow on health and well-being in commercial real estate
  • 2021 Nick Tyrrell Prize
    Fuerst, F.; Mansley, N.; Wang, Z. (2021). Do Specialist Funds Outperform? Evidence from European Non-Listed Real Estate Funds. Research in International Business and Finance, 58.
  • 2017 Pacific Rim Real Estate Society Best Paper
    For pioneering work on sustainable real estate valuation
  • Emerald Highly Commended Awards
    Multiple awards (2013, 2016) for contributions to real estate economics literature

Recognition & Impact

Recent Awards

  • Journal of Real Estate Research Best Paper Prize (2024)
  • ARES/CoStar Best Manuscript Award (2022)
  • Nick Tyrrell Prize (2021)
  • Pacific Rim Real Estate Society Best Paper (2017)

Academic Positions

  • Fellow, Academy of the Social Sciences
  • J M Keynes Fellow in Financial Economics
  • Cambridge University Land Society Fellow
  • THRIVE Research Hub Fellow, Melbourne

International

  • Visiting Professor, Hitotsubashi University Tokyo
  • Global Visiting Professor, TU Munich
  • Visiting Professor, University of Regensburg
  • Visiting Professor, Reitaku University Tokyo

Recent Keynotes

  • India Management Research Conference
  • NTFU Business Conference
  • International AREUEA Conference
  • SwissLife Asset Management

Advisory Roles

  • VERT Asset Management
  • ClimateWise Project
  • Homburg Institute
  • EU Commission DG Industry

Media & Consultancy

Recent Keynote Speeches

  • India Management Research Conference
    12th December 2024
  • NTFU Business Conference
    26th June 2024
  • International AREUEA Conference (Invited Keynote Panellist)
    26th June 2024
  • Dokkyo University Japan International Forum
    8th December 2023
  • Cluster Sustainable Real Estate, TU Munich
    18th January 2023
  • SwissLife Asset Management
    14th November 2022

Consultancy & Advisory Roles

  • Investment Research Group – VERT Asset Management
  • Climate Risk Advisor – ClimateWise Project
  • Advisory Board Member – Homburg Institute for Real Estate, Canada
  • Research Consultant – Pacific Star Mutual Fund
  • Former Senior Consultant – Atisreal-BNP Paribas Real Estate (2006-2007)
  • Expert Advisor – EU Commission DG Industry Roundtable
  • Policy Consultant – UK Government BEIS Energy Efficiency Standards
  • Climate Risk Expert – UK Insurance Industry Roundtable

Policy Influence & Outreach

Research widely cited and adopted by leading organizations:

  • World Economic Forum – Climate risk and real estate research citations
  • World Green Building Council – Sustainability standards development
  • USA Department of Energy – Energy efficiency policy research
  • UK Green Building Council – Green building certification analysis
  • UK Department of BEIS – Minimum Energy Efficiency Standards consultation
  • Green Building Council Australia – Sustainable property valuation methods

Teaching & Supervision

Current Teaching

MPhil Chair of Examiners
RE02 - Real Estate Investment and Finance
REM6 - Real Estate Development
Paper 11 - Urban Land Economics, Land Economy Tripos

PhD Supervision

Doctoral research in real estate economics, sustainable finance, and urban development

Executive Education

ESG integration, climate risk assessment, and investment strategies

Contact

Email

ff274@cam.ac.uk

Office

Department of Land Economy
17 Mill Lane, Cambridge CB2 1RX

Online Profiles

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