The Small Investors in Rental Property: A Socioeconomic and Financial Analysis
The small investors in rental real estate in Spain have grown more than 50% over a decade. In this paper, we investigate who are those small investors in rental real estate, to know their demographic and financial characteristics. We do that through bivariate statistics and a logistic model. We find that there are several characteristics related to the decision to invest in real estate such as the age of householders, education, marital and health status, and homeownership. This paper gives new insights regarding the behavior of small investors and why they invest.