Avis Devine, PhD ’13, won the 2014 Aareal Award of Excellence in Real Estate Research from the Real Estate Management Institute (REMI) of the EBS Business School and Aareal Bank AG.
Devine, now assistant professor at University of Guelph, Ontario, Canada, was given the award based on her “academically-outstanding” research work in real estate economics. Her dissertation, “Three Essays in Residential Real Estate Topics: An Examination of Rental Tenure, Green Residential Construction Policy and Green Residential Rental Rates" examined three topics.
In her dissertation, Devine found a statistically and economically significant connection between increased rental tenure and house price recovery for 2006. In a second topic, she found an 8.9 percent rental rate premium associated with LEED apartments and in the third topic she examined municipalities with and without green residential incentive programs to determine which type is most popular and most successful.