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Professor Gianluca Marcato

Professor of Finance and Real Estate

Henley Business School Director: PhD and DBA Programmes
Director: INREV-Henley Certificate for Non-Listed Real Estate Investment

Gianluca Marcato004 75eh8ywhn


  • Household finance (mortgages), 
  • Asset pricing; IPOs, 
  • Real estate finance, 
  • Real options, 
  • Sustainability


HBS 219, Whiteknights Campus

Gianluca Marcato is Professor of Finance and Real Estate and Director of the PhD and DBA Programmes at Henley Business School (University of Reading).

Gianluca is also Director of the INREV/Henley Certificate in European Non-Listed Real Estate Investment, Visiting Professor at the University of Amsterdam and at the Center for Real Estate and Environmental Economics at NTNU Business School (Norway). After his 3 year tenure as AREUEA board member, he continues to serve on the International Committee. Previously, he worked at Cass Business School and Bocconi University and was Visiting Fellow at NYU and LSE.

His research interests lie in household finance, asset pricing, IPOs and real estate finance. He is a recipient of several research grants from institutions and industry bodies and has published his work in various journals including Journal of Corporate Finance, Real Estate Economics and Journal Real Estate Finance and Economics.

As a consultant in the real estate industry, he led the introduction of a new real estate index and bench-marking service for MSCI/IPD in Italy, created the Jones Lang LaSalle style index, and worked for several other companies on issues such as performance measurement, investment and securities appraisal, portfolio management and real estate finance. He also developed a series of executive training for companies (e.g. Prudential, Generali, Bloomberg) and collaborated with the Bank of Italy to train supervisors and consult on the establishment of a new national legislation for real estate funds.


  • PhD in Finance (Cass Business School)
  • MSc in Real Estate Investment (Cass Business School)
  • BSc in Business and Administration, Major: Corporate Finance (Bocconi University)
  • Chartered Institute for Securities & Investment (CISI), Member
  • Financial Conduct Authority (FCA): Certificate for Corporate Finance Representatives

Current and recent PhD students

Michelle Tong: Three Essays on Early Termination of the Commercial Mortgages. (Completed, Lead supervisor)

Sariye Akcay: Housing Price Cycles in a European Perspective. (Completed, Lead supervisor)

Carlos Garcia: Real Estate Investor Behaviour, Role of 'Flippers' in the Real Estate Market. Lead supervisor

Shotaro Watanabe: Strategic default in the U.S. housing market and household portfolio choice. Lead supervisor

Fengting Zhang: Media effects on real estate and financial markets. Lead supervisor.

Rohit Lalit Bajaj: Board Gender Diversity, Firm Value and Performance. Co-supervisor.