Marja C Hoek-Smit

Marja C Hoek-Smit
  • Adjunct Professor of Real Estate
  • Director/Founder, International Housing Finance Program, Zell/Lurie Real Estate Center

Contact Information

  • office Address:

    1462 Steinberg-Dietrich Hall; 3620 Locust Walk
    Philadelphia, PA 19104-6302

Research Interests: housing markets, housing finance systems, real estate development, urban and housing policy and subsidy systems with a focus on emerging market economies and developing countries

Links: CV, IHFP Website, Hofinet Web-portal

Overview

Education

University of Amsterdam (Doctoraal, 1971)

Other Current Positions

Director/Founder, International Housing Finance Program, Zell/Lurie Real Estate Center

Executive Director/Founder, Housing Finance Information Network – HOFINET

Adjunct faculty, City and Regional Planning Department, School of Design, University of Pennsylvania

Member of the Graduate Group of the Lauder Institute, Wharton School

Recent Consulting

Housing finance system reforms and subsidy policy (Argentina, Mexico, Brazil, Haiti, Egypt, South Africa,  Indonesia, Myanmar, Mongolia)–The World Bank, IMF, Government of South Africa, Government of Indonesia; Housing market /policy analysis (Egypt, Columbia, Peru, Indonesia, Thailand) – The World Bank, UNHabitat,  IADB; Expanding Access to Housing Finance in Developing countries — UNHabitat; Infrastructure finance feasibility –CLIFF.

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Research

Teaching

  • REAL890 – International Real Estate Comparisons

    As a truly non-U.S. focused course, we explore the world of cross-border real estate development, with a focus on fast growing emerging market economies. Topics will emphasize the importance of strategy and implementation in cross-border real estate investment, and include: the rationale, opportunities and risks of international real estate investing; the macro factors that influence the performance of real estate markets across countries; market specific factors that impact RE investment performance (property rights, taxes, transparency, planning procedures); the qualitative aspects of identifying and achieving successful projects; and the growing market for international RE securities and strategies for portfolio management. Classes will combine a lecture on specific aspects of global cross-border RE in the first half of the class and an international case presentations in the second half. Cases will be presented by leading executives in charge of major international RE projects or funds. Cases have been selected to cover different types of RE development – residential, office, retail, hospitality and logistics – important emerging market countries/continents (East / South Asia, Latin America, Sub-Saharan Africa, the Middle East)and different development and investment strategies

    This 7-week course is offered in the second half of the semester.

 

Current Courses

  • REAL390 - International Real Estate Comparisons

    As a truly non-U.S. focused course, we explore the world of cross-border real estate development, with a focus on fast growing emerging market economies. Topics will emphasize the importance of strategy and implementation in cross-border real estate investment and include: the rationale, opportunities and risks of international real estate investing; the macro factors that influence the performance of real estate markets across countries; market specific factors that impact RE investment performance (property rights, taxes, transparency, planning procedures); the qualitative aspects of identifying and achieving successful projects; and the growing market for international RE securities and strategies for portfolio management. Classes will combine a lecture on specific aspects of global cross-border RE in the first half of the class and international case presentations in the second half. Cases will be presented by leading executives in charge of major international RE projects or funds. Cases have been selected to cover different types of RE development-residential, office, retail, hospitality and logistics- important emerging market countries/continents (East/South Asia, Latin America, Sub-Saharan Africa, the Middle East) and different development and investment strategies.

    REAL390401 ( Syllabus )

  • REAL890 - International Real Estate Comparisons

    As a truly non-U.S. focused course, we explore the world of cross-border real estate development, with a focus on fast growing emerging market economies. Topics will emphasize the importance of strategy and implementation in cross-border real estate investment and include: the rationale, opportunities and risks of international real estate investing; the macro factors that influence the performance of real estate markets across countries; market specific factors that impact RE investment performance (property rights, taxes, transparency, planning procedures); the qualitative aspects of identifying and achieving successful projects; and the growing market for international RE securities and strategies for portfolio management. Classes will combine a lecture on specific aspects of global cross-border RE in the first half of the class and international case presentations in the second half. Cases will be presented by leading executives in charge of major international RE projects or funds. Cases have been selected to cover different types of RE development-residential, office, retail, hospitality and logistics- important emerging market countries/continents (East/South Asia, Latin America, Sub-Saharan Africa, the Middle East) and different development and investment strategies.

    REAL890401 ( Syllabus )

  • REAL999 - Independent Study

    REAL999001

Past Courses

  • REAL236 - International Housing Comparisons

    This course analyzes housing finance systems and housing market outcomes across the globe. In the US, the course focuses on the development of securitization markets and addresses the current challenges of housing finance reform, including the future of Fannie Mae and Freddie Mac. Internationally, the course covers issues of access to housing and housing informality in developing countries, financial crises arising out of the housing sector, and market-oriented and public policy solutions. The course features a wide array of speakers in finance, government and academia who contribute their perspectives to pressing issues of mortgage market design.

  • REAL390 - International Real Estate Comparisons

    As a truly non-U.S. focused course, we explore the world of cross-border real estate development, with a focus on fast growing emerging market economies. Topics will emphasize the importance of strategy and implementation in cross-border real estate investment and include: the rationale, opportunities and risks of international real estate investing; the macro factors that influence the performance of real estate markets across countries; market specific factors that impact RE investment performance (property rights, taxes, transparency, planning procedures); the qualitative aspects of identifying and achieving successful projects; and the growing market for international RE securities and strategies for portfolio management. Classes will combine a lecture on specific aspects of global cross-border RE in the first half of the class and international case presentations in the second half. Cases will be presented by leading executives in charge of major international RE projects or funds. Cases have been selected to cover different types of RE development-residential, office, retail, hospitality and logistics- important emerging market countries/continents (East/South Asia, Latin America, Sub-Saharan Africa, the Middle East) and different development and investment strategies.

  • REAL890 - International Real Estate Comparisons

    As a truly non-U.S. focused course, we explore the world of cross-border real estate development, with a focus on fast growing emerging market economies. Topics will emphasize the importance of strategy and implementation in cross-border real estate investment and include: the rationale, opportunities and risks of international real estate investing; the macro factors that influence the performance of real estate markets across countries; market specific factors that impact RE investment performance (property rights, taxes, transparency, planning procedures); the qualitative aspects of identifying and achieving successful projects; and the growing market for international RE securities and strategies for portfolio management. Classes will combine a lecture on specific aspects of global cross-border RE in the first half of the class and international case presentations in the second half. Cases will be presented by leading executives in charge of major international RE projects or funds. Cases have been selected to cover different types of RE development-residential, office, retail, hospitality and logistics- important emerging market countries/continents (East/South Asia, Latin America, Sub-Saharan Africa, the Middle East) and different development and investment strategies.

  • REAL899 - Independent Study

    All independent studies must be arranged and approved by a Real Estate Department faculty member.

  • REAL999 - Independent Study

Awards and Honors

  • G. Holmes Perkins Award for Distinguished Teaching by a Member of the Practitioner Faculty, School of Design, University of Pennsylvania., 2009

Activity

Latest Research

Susan M Wachter, Marja Hoek-Smit, Kim Kyung-Hwan (Working), Housing Finance and the New Urban Agenda.
All Research

Awards and Honors

G. Holmes Perkins Award for Distinguished Teaching by a Member of the Practitioner Faculty, School of Design, University of Pennsylvania. 2009
All Awards