WorldWideScience

Sample records for urban real estate

  1. Fondos inmobiliarios y riesgo urbano./ Real estate funds and urban risk

    Directory of Open Access Journals (Sweden)

    Antonio Daher

    2013-04-01

    Full Text Available La relación entre fondos de inversión inmobiliaria y riesgo urbano es compleja: el riesgo del sector inmobiliario-financiero incrementa la vulnerabilidad urbana, y la sustentabilidad de las ciudades es más dependiente del riesgo de ese sector que éste del riesgo urbano y del riesgo país. La suerte de las economías nacionales está muy asociada a la suerte de las ciudades y la del riesgo supranacional global a la del riesgo subnacional urbano. El riesgo financiero-inmobiliario se ha multiplicado por la financiarización: los fondos inmobiliarios transnacionales y la gran movilidad geográfica de capitales, por su alta y selectiva concentración metropolitana, inducen la inflación de burbujas y las crisis, afectando la sustentabilidad urbana, nacional e incluso global. La financiarización no sólo es inmobiliaria: se trata de una amplia “financiarización urbana” que incluye –como en la crisis subprime- la vivienda social, y que agudiza las disparidades e inequidades territoriales./ The association between real estate funds and urban risk is complex; financial uncertainty of real estate development increases urban vulnerability and negatively affects the sustainability of cities. However, the relation is not reciprocal, since the impact that urban risk, and the reliability of national economies have on real estate development is relatively low. The success of national economies depends on the specific conditions of a country’s cities, and the success of global supranational risk is closer to urban subnational risk. The financial risk of real estate development has increased because of financialisation. As the metropolitan concentration is high and selective, transnational real estate funds, along with the geographical mobility of capital, propel the growth of real estate bubbles and crisis, making a big impact on sustainability at many levels –urban, national and even global-. Financialisation is not just a real estate

  2. Urban Tech on the Rise: Machine Learning Disrupts the Real Estate Industry

    OpenAIRE

    Chaillou, Stanislas; Fink, Daniel; Gonçalves, Pamella

    2018-01-01

    The practice of AI-powered Urban Analytics is taking off within the real estate industry. Data science and algorithmic logic are close to the forefront of new urban development practices. How close? is the question — experts predict that digitization will go far beyond intelligent building management systems. New analytical tools with predictive capabilities will dramatically affect the future of urban development, reshaping the real estate industry in the process.

  3. 24 CFR 100.50 - Real estate practices prohibited.

    Science.gov (United States)

    2010-04-01

    ... 24 Housing and Urban Development 1 2010-04-01 2010-04-01 false Real estate practices prohibited....50 Real estate practices prohibited. (a) This subpart provides the Department's interpretation of... in, any multiple-listing service, real estate brokers' association, or other service organization or...

  4. 24 CFR 266.400 - Property requirements-real estate.

    Science.gov (United States)

    2010-04-01

    ... 24 Housing and Urban Development 2 2010-04-01 2010-04-01 false Property requirements-real estate... Mortgage and Closing Requirements; HUD Endorsement § 266.400 Property requirements—real estate. The mortgage must be on real estate held: (a) In fee simple; (b) Under a renewable lease of not less than 99...

  5. The Real Estate and Economic Crisis: An Opportunity for Urban Return and Rehabilitation Policies in Spain

    Directory of Open Access Journals (Sweden)

    Jesús M. González Pérez

    2010-06-01

    Full Text Available In the early 1980s, suburbanization and periurbanization processes became widespread in major cities within Spain. An interesting stage of returning to city centers commenced that materialized in the start of rehabilitation policies within historic centers. These processes coincided with weak population growth, an acute industrial economic crisis, and new democratic policies in municipal councils. Three decades later, we may be witnessing similar processes, although with different origins. The consequences of a construction-based economic model have been disastrous in Spain, from both an economic as well as an environmental point of view. The artificial land boom was significant throughout the country, but was especially prominent within the Mediterranean areas that specialize in tourism and real estate (second homes. The burst of the real estate bubble has shown the irrationality of the economic model and the serious social and environmental consequences that the model has entailed. Within this context, some of the territorial transformation processes that occurred in Spain during the real estate boom period are being studied for the first time. Additionally, changes in land policies (urban renewal of centers and urban renewal in general within the current economic and real estate crisis are analyzed. An urban rehabilitation that gradually includes new spaces for intervention and for introducing new sustainable methods for recovering degraded spaces, such as the Master Plan for Platja de Palma, a mature tourism destination that seeks a final ‘0 CO2 balance’ scenario, among other objectives.

  6. Obstacles to developing sustainable cities: the real estate rigidity trap

    Directory of Open Access Journals (Sweden)

    V. Kelly Turner

    2017-06-01

    Full Text Available Sprawl patterns of urbanization have large environmental consequences, and sustainable alternatives to conventional urban patterns of development have been promoted by a subset of planners, design professionals, and municipalities. These alternatives have not been widely adopted among real estate developers, actors with large influence over urban form and function. Existing explanations for this failure enumerate market and regulatory barriers but do not sufficiently describe the institutional structures that allow conventional approaches to prevail. A failure of real estate developers to adopt alternative forms of development can best be described in terms of a rigidity trap. Specifically, norms of practice within the real estate development industry combine with market and regulatory factors to favor existing practices and limit innovation. Moreover, these institutional factors also buffer the real estate development industry from feedback mechanisms and external signals that might otherwise trigger adaptation. Addressing the environmental consequences of urbanization not only requires novel approaches to urban design, but will also necessitate addressing systemic pathologies in the design implementation process.

  7. The real estate markets: Players, Institutions ans Territories

    OpenAIRE

    Theurillat Thierry; Rérat Patrick; Crevosier Olivier

    2015-01-01

    Revealing the parties the processes and the institutions and consequently both the diversity and contingency of the real estate markets the existing increasing literature emphasises the contem porary numerous links and interdependencies between real estate land value planning and town planning policy and even the financial system. This paper is an attempt to understand all the real estate markets from the most peripheral ones where the urban rent is the lowest to the most dense city cent...

  8. The Real Estate Markets : Players, Institutions and Territories

    OpenAIRE

    Theurillat, Thierry; Rérat, Patrick; Crevoisier, Olivier

    2014-01-01

    Revealing the parties, the processes and the institutions and, consequently, both the diversity and contingency of the real estate markets, the existing increasing literature emphasises the contemporary numerous links and interdependencies between real estate, land value, planning and town planning policy and even the financial system. This paper is an attempt to understand all the real estate markets, from the most peripheral ones, where the urban rent is the lowest, to the most dense city c...

  9. REAL ESTATE PURCHASE AGREEMENTS

    Directory of Open Access Journals (Sweden)

    Bujorel FLOREA

    2016-12-01

    Full Text Available The study presented herein represents a field with good present and future perspectives, especially because real estate property is not under the incidence of a single normative act regarding the sale-purchase agreement of such goods, and given the fact that there are specific legal provisions with respect to various real estate categories and the localization of such property. The article deals with the sale-purchase agreement of various real estate categories, such as fields, buildings, the correspondent lots, urban area, farm, and forests fields, focusing on some particularities. A special care is attributed to examining the applicable laws with regard to the purchase agreements of field lands, the special conditions to be taken into account, the persons that may act as buyers, including foreigners, those without citizenship, and legal persons of a nationality other than Romanian. Finally, a special concern is given to the formalities required for legally exerting the pre-emptive right and the applicable sanctions in that respect.

  10. Measuring the influence of the greening design of the building environment on the urban real estate market in Taiwan

    Energy Technology Data Exchange (ETDEWEB)

    Chang, Kuei-Feng [Department of Real Estate Management, National Pingtung Institute of Commerce (China); Chou, Po-Cheng [Department of Interior Design, Shu-Te University, Kaohsiung County (China)

    2010-10-15

    To address the worsening problems of global warming and the urban heat island effect, ecological cities and building environment greening are being promoted in population-dense urban areas domestically and abroad. For example, the Japanese Ministry of Land, Infrastructure, Transport, and Tourism announced the CASBEE-HI (Heat Island) assessment system in 2008 as a response to worsening urban warming and urban heat island effects. The Ministry implemented ''Building Space Greening Plans'' in Tokyo, Osaka, and other cities, enforcing by law the effective reduction of urban temperatures and improving urban living environments and alleviating the threat of urban ecological disasters. Therefore, this study integrates Taiwan domestic and foreign building space greening design, derived greening benefits, implementation promotion methods, and greening design policies as measurement constructs to examine the mutual influence between different constructs and to analyze the degree of influence on the urban real estate market. From the result, demonstrating that building space environment greening design does bring about positive benefits. In addition, the greening benefit was shown to have a positive impact on the urban real estate market. At the same time, greening promotion implementation method and urban policy standard both had a positive impact on the urban real estate market, demonstrating that government promotion of building environment greening design through urban design policy means is acceptable to the public. (author)

  11. 24 CFR 100.110 - Discriminatory practices in residential real estate-related transactions.

    Science.gov (United States)

    2010-04-01

    ... residential real estate-related transactions. 100.110 Section 100.110 Housing and Urban Development... Discrimination in Residential Real Estate-Related Transactions § 100.110 Discriminatory practices in residential real estate-related transactions. (a) This subpart provides the Department's interpretation of the...

  12. Outsourcing by Real Estate investors: chances for real estate managers?

    NARCIS (Netherlands)

    Janssen, I.I.; Smits, M.

    2008-01-01

    In the Netherlands outsourcing real estate management by institutional investors is not generally accepted. Since real estate investment became common use by institutional investors about 1960, investors started their own real estate management departments. Only property management regarding daily

  13. 20th International Symposium on Advancement of Construction Management and Real Estate

    CERN Document Server

    Zheng, Sheng; Luo, Jiaojiao; Wang, Wei; Mo, Zhibin; Shan, Liping

    2017-01-01

    These conference proceedings offer an outstanding resource for academics and professionals, sharing essential findings on the latest developments in real estate and construction management. The subject is “Advancement of Construction Management and Real Estate” in the context of new-type urbanization. The Chinese Research Institute of Construction Management (CRIOCM), working in close collaboration with Zhejiang University, organized CRIOCM2015, the 20th International Symposium. Written by academics and professionals from all over the world, these proceedings discuss the latest achievements, research outputs and advances between frontier disciplines in the field of construction management and real estate. They cover a wide range of topics, including new-type urbanization, land development and land use, urban development and management, the real estate market and housing policies. The discussions will provide an important reference source on the implementation of new-type urbanization in China and abroad.

  14. Real-estate lakes

    Science.gov (United States)

    Rickert, David A.; Spieker, Andrew Maute

    1971-01-01

    Since the dawn of civilization waterfront land has been an irresistible attraction to man. Throughout history he has sought out locations fronting on oceans, rivers, and lakes. Originally sought for proximity .to water supply and transportation, such locations are now sought more for their esthetic qualities and for recreation. Usable natural waterfront property is limited, however, and the more desirable sites in many of our urban areas have already been taken. The lack of available waterfront sites has led to the creation of many artificial bodies of water. The rapid suburbanization that has characterized urban growth in America since the end of World War II, together with increasing affluence and le-isure time, has created a ready market for waterfront property. Accordingly, lake-centered subdivisions and developments dot the suburban landscape in many of our major urban areas. Literally thousands of lakes surrounded by homes have materialized during this period of rapid growth. Recently, several "new town" communities have been planned around this lake-centered concept. A lake can be either an asset or a liaoility to a community. A clean, clear, attractively landscaped lake is a definite asset, whereas a weed-choked, foul-smelling mudhole is a distinct liability. The urban environment poses both problems and imaginative opportunities in the development of lakes. Creation of a lake causes changes in all aspects of the environment. Hydrologic systems and ecological patterns are usually most severely altered. The developer should be aware of the potential changes; it is not sufficient merely to build a dam across a stream or to dig a hole in the ground. Development of Gl a successful lake requires careful planning for site selection and design, followed by thorough and cc ntinual management. The purpose of this report is to describe the characteristics of real-estate lakes, to pinpoint potential pmblems, and to suggest possible planning and management guidelines

  15. TRERC-TEA [Texas Real Estate Research Center-Texas Education Agency] Real Estate Curriculum Workshop Committee Report.

    Science.gov (United States)

    Lyon, Robert

    The document contains a summary report of a community college real estate teachers' workshop organized to develop course outlines for the various areas in the real estate curriculum. Curriculum outlines are presented, with varying degrees of detail included, for the following eight subjects: real estate appraisal; real estate brokage; real estate…

  16. 75 FR 36271 - Real Estate Settlement Procedures Act (RESPA): Home Warranty Companies' Payments to Real Estate...

    Science.gov (United States)

    2010-06-25

    ... Estate Settlement Procedures Act (RESPA): Home Warranty Companies' Payments to Real Estate Brokers and... RESPA and HUD's implementing RESPA regulations, services performed by real estate brokers and agents as additional settlement services in a real estate transaction are compensable if the services are actual...

  17. Analysing UK real estate market forecast disagreement

    OpenAIRE

    McAllister, Patrick; Newell, G.; Matysiak, George

    2005-01-01

    Given the significance of forecasting in real estate investment decisions, this paper investigates forecast uncertainty and disagreement in real estate market forecasts. Using the Investment Property Forum (IPF) quarterly survey amongst UK independent real estate forecasters, these real estate forecasts are compared with actual real estate performance to assess a number of real estate forecasting issues in the UK over 1999-2004, including real estate forecast error, bias and consensus. The re...

  18. Economic Effects Real Estate Tax

    Directory of Open Access Journals (Sweden)

    Tadić Milan

    2016-06-01

    Full Text Available The real estate tax is usually a fiscal instrument which performs the property tax. When it comes to real property or immovable this term include: apartments, houses, land, cottages, excess housing landscape and more. The real estate tax as a form of the fiscal charges ownership or use of certain forms of real estate, and the revenue from this tax is levied on the area where the property is located regardless of the place of residence of its owner. The tax base for the calculation of this tax usually consists of the market, estimated or annuity value of certain real estate. This form of taxation in the Republic of Serbian applies from 1.1.2012., and its introduction has been replaced by former property taxes. The differences between the two concepts mentioned taxes are numerous and significant. Among the more important are: subject to taxation under the new concept of the real estate rather than law, a taxpayer is any property owner rather than the holder of rights to immovable property tax base is the market value of real estate which is replaced by the payment of taxes per square meter of usable area, the rate of property tax is determined local government, which can not be lower than 0.05% of the estimated value of the real estate nor higher than 0.5% of the appraised value of real estate. The last change, ie. The new law on Property Tax from 5.11.2015. was determined by the tax rate to 20%. The fact that local governments each of them determines the tax rate on real estate which range from high to low rates of multiple, makes this tax is progressive. Progression is particularly expressed in the distinction applied tax rates of developed and undeveloped municipalities, where we have a case that less developed tolerate a higher tax burden, which leads to negative economic effects. However, real estate tax has its own economic and social characteristics which must be aligned with the objectives of tax policy. This means that the real estate tax

  19. 12 CFR 541.21 - Nonresidential real estate.

    Science.gov (United States)

    2010-01-01

    ... 12 Banks and Banking 5 2010-01-01 2010-01-01 false Nonresidential real estate. 541.21 Section 541... REGULATIONS AFFECTING FEDERAL SAVINGS ASSOCIATIONS § 541.21 Nonresidential real estate. The terms nonresidential real estate or nonresidential real property mean real estate that is not residential real estate...

  20. E-Real Estate Property Management System

    OpenAIRE

    Majid Shanto, Syed Nurul

    2003-01-01

    Real estate business is one of the oldest businesses in the business world which is also considered to be associated with the toughest business environment to invest for investment because of its volatile behavior. In order to be competitive in the real estate market, the real estate developer as well as real estate specialist like real estate agent is constantly fighting for achieving marginal profit from the market. 21st century is the century of advance technology and utilizing its power i...

  1. Economic scenarios for the real estate market: Incorporating uncertainty and risk in real estate appraisals

    Directory of Open Access Journals (Sweden)

    Carsten Lausberg

    2013-08-01

    Full Text Available Real estate appraisal is usually regarded as both a science and an art: “science” because the appraiser uses mathematical calculations and other objective elements, “art” because he also uses his experience and other subjective elements. This dual character requires—among others—that new insights from other disciplines and current trends are taken into account. The central proposition of the article is that this requirement is not met. The author provides evidence that real estate risk management has made tremendous progress since the mid-1990s which has not found its way into appraisal practice, thereby creating a situation where appraisals by risk analysts differ greatly from appraisals by real estate appraisers. According to the author the gap between real estate appraisal and risk analysis should be closed from both sides. The article begins with an overview of the most important trends which will impact real estate values in the future. From these trends, an exemplary economic scenario for European real estate markets is derived in order to demonstrate that scenario writing is a powerful tool for risk management. After that the author discusses some other methods of risk management and their potential benefits for real estate appraisal.

  2. 33 CFR 211.1 - Real estate defined.

    Science.gov (United States)

    2010-07-01

    ... 33 Navigation and Navigable Waters 3 2010-07-01 2010-07-01 false Real estate defined. 211.1... DEFENSE REAL ESTATE ACTIVITIES OF THE CORPS OF ENGINEERS IN CONNECTION WITH CIVIL WORKS PROJECTS Real Estate; General § 211.1 Real estate defined. The term real estate as used in this part includes land...

  3. A model of real estate and psychological factors in decision-making to buy real estate

    Directory of Open Access Journals (Sweden)

    Bojan Grum

    2015-06-01

    Full Text Available This article explores the psychological characteristics of potential real estate buyers connected with their decision to buy. Through a review of research, it reveals that most studies of psychological factors in the decision to buy real estate have a partial and dispersed orientation, and examine individual factors independently. It appears that the research area is lacking clearly defined models of psychological factors in the decision to buy real estate that would integrally and relationally explain the role of psychological characteristics of real estate buyers and their expectations in relation to a decision to buy. The article identifies two sets of psychological factors, motivational and emotional, determines their interaction with potential buyers’ expectations when deciding to purchase real estate and offers starting points for forming a model.

  4. Competent ownership in real estate business

    OpenAIRE

    Timo Sneck

    2001-01-01

    The real estate businessñproject Competent Ownership (Oskito)î focuses on the role of ownership within the real estate industry. Ownership acts as the core upon which , the competitive advantages of real estate industry are for the most based. The project studies specific real estate business issues, especially îentities of possessionî that are large enough to allow the development of specialised businesses. The project is of current interest as the next phase of growth of the Finnish informa...

  5. The Significance of Malaysian Real Estate Research Agenda

    Directory of Open Access Journals (Sweden)

    Muhammad Najib Razali

    2011-12-01

    Full Text Available This paper investigates research agenda by the Malaysian real estate researchers (MRERs. This study adopts a deskwork approach by examining research papers published in leading real estate journals, both international and local and papers presented in main real estate conferences from 1997 to 2010. In addition, the number of research papers published and presented were also assessed from several main real estate research journals in the US, UK, Asia/Australia and Malaysia and conferences such as American Real Estate Society (ARES, European Real Estate Society (ERES, Pacific Rim Real Estate Society (PRRES, Asian Real Estate Society (AsRES and local conference; International Real Estate Research Symposium (IRERS. The study indicates that the Malaysian real estate researchers (MRERs have made a positive contribution to the global real estate research. Nevertheless, there is still more effort needed in order to compete in the global real estate research agenda. It is anticipated that this trend will change since the Malaysian government has emphasised on improving the quality of higher learning institutions' for which research and publication will be the main agenda. The contribution from MRERs will significantly improve Malaysian universities standing in global ranking.

  6. 12 CFR 541.23 - Residential real estate.

    Science.gov (United States)

    2010-01-01

    ... 12 Banks and Banking 5 2010-01-01 2010-01-01 false Residential real estate. 541.23 Section 541.23... AFFECTING FEDERAL SAVINGS ASSOCIATIONS § 541.23 Residential real estate. The terms residential real estate... home used in part for business); (c) Other real estate used for primarily residential purposes other...

  7. 12 CFR 541.27 - Unimproved real estate.

    Science.gov (United States)

    2010-01-01

    ... 12 Banks and Banking 5 2010-01-01 2010-01-01 false Unimproved real estate. 541.27 Section 541.27... AFFECTING FEDERAL SAVINGS ASSOCIATIONS § 541.27 Unimproved real estate. The term unimproved real estate means real estate that will be improved, as defined in § 541.15 or § 541.16 of this part. ...

  8. Real Estate Agent Commission Disputes

    Directory of Open Access Journals (Sweden)

    Anida Duarte

    2015-06-01

    Full Text Available The purpose of this study was to examine the relationship among Procuring Cause Law, real estate agent years of experience, and real estate commission disputes. A pilot survey was conducted in the southwestern United States among real estate agents, realtor(s, and brokers. After testing the hypothesis, the decision was made to fail to reject the hypothesis and conclude that real estate agent experience and not Procuring Cause Law produced favorable outcomes in disputes. As a result, the following recommendations were made: (a Agency seller and buyer’s agreements should be used in each transaction to avoid disputes, (b proper expectations and guidelines should be reviewed prior to starting any real estate transaction, (c a checklist may assist in the assurance that all valuable information is reviewed, (d agents could benefit from fully understanding Procuring Cause Law and sharing this information with their clients, (e state and national regulatory requirements of the law could be modified for easier understanding and use, and (f consumers who willfully violate the law could be subject to monetary penalties.

  9. “Turning pumpkins into carriages”: sustainable urban development and the financialization of ‘green’ commercial real estate in France

    Directory of Open Access Journals (Sweden)

    Katia Attuyer

    2012-11-01

    Full Text Available There is increasing pressure from political circles and citizens’ groups to ensure the production of urban built forms that can address both social and economic needs while respecting long-term environmental goals. This has resulted in new legislative and policy frameworks aimed at encouraging the adoption of sustainable development practices. This paper analyzes how professionals investing finance capital in commercial real estate properties in France are responding to such pressure. It raises the theoretical question of how sustainability goals may be internalized by investors in a context of financialization of urban production. Based on a qualitative analysis, the paper questions how property investors engage with the sustainability agenda and how this affects their organizational charts, business strategies, investment processes and day-to-day management of commercial real estate. The results show that FCIs have to internalize potentially contradictory objectives, i.e., countering the capital depreciation arising from new legislation by upgrading their portfolios and, at the same time, limiting their investments to maintain their profit margins. To achieve this, they both encourage their tenants to reduce energy consumption and adopt spatially selective ‘green’ investments that favor a limited number of ‘established’ markets at both intra and inter-urban levels.

  10. 75 FR 62412 - Notice of Proposed Information Collection: Comment Request; HUD-Owned Real Estate-Good Neighbor...

    Science.gov (United States)

    2010-10-08

    ... DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT [Docket No. FR-5380-N-36] Notice of Proposed Information Collection: Comment Request; HUD- Owned Real Estate-Good Neighbor Next Door Program AGENCY: Office... information: Title of Proposal: HUD-Owned Real Estate-Good Neighbor Next Door Program. OMB Control Number, if...

  11. 75 FR 62413 - Notice of Proposed Information Collection: Comment Request; HUD-Owned Real Estate-Dollar Home...

    Science.gov (United States)

    2010-10-08

    ... DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT [Docket No. FR-5380-N-38] Notice of Proposed Information Collection: Comment Request; HUD- Owned Real Estate--Dollar Home Sales Program AGENCY: Office of... information: Title of Proposal: HUD-Owned Real Estate--Dollar Home Sales Program. OMB Control Number, if...

  12. Gentrification and models for real estate analysis

    Directory of Open Access Journals (Sweden)

    Gianfranco Brusa

    2013-08-01

    Full Text Available This research propose a deep analysis of Milanese real estate market, based on data supplied by three real estate organizations; gentrification appears in some neighborhoods, such as Tortona, Porta Genova, Bovisa, Isola Garibaldi: the latest is the subject of the final analysis, by surveying of physical and social state of the area. The survey takes place in two periods (2003 and 2009 to compare the evolution of gentrification. The results of surveys has been employed in a simulation by multi-agent system model, to foresee long term evolution of the phenomenon. These neighborhood micro-indicators allow to put in evidence actual trends, conditioning a local real estate market, which can translate themselves in phenomena such as gentrification. In present analysis, the employ of cellular automata models applied to a neighborhood in Milan (Isola Garibaldi produced the dynamic simulation of gentrification trend during a very long time: the cyclical phenomenon (one loop holds a period of twenty – thirty years appears sometimes during a theoretical time of 100 – 120 – 150 years. Simulation of long period scenarios by multi-agent systems and cellular automata provides estimator with powerful tool, without limits in implementing it, able to support him in appraisal judge. It stands also to reason that such a tool can sustain urban planning and related evaluation processes.

  13. Creating real estate maps by using GIS: A case study of Atakum-Samsun/Turkey

    Directory of Open Access Journals (Sweden)

    Faik Ahmet Sesli

    2015-12-01

    Full Text Available Determining the real estate evaluations and reflecting them on taxations are among the most important economic resources of the developed countries. In Turkey, the system is not able to ground the real estate evaluations on scientific criteria yet, which causes various problems in applications regarding real estate evaluations (such as estate tax, expropriation, court surveillances and an important economic loss.Thus, it is required to generate tax-base real estate evaluation maps within the scope of the legal legislation in Turkey. This study aimed to generate a fast, up-to-date and dynamic evaluation map that would form a base for the real estate taxation. The closeness of real estates to the technical infrastructure and social equipment areas and their variety affect the real estate evaluations either positively or negatively and form the local benefit for real estates. This study determined the areas (such as main roads, green spaces, trading areas and urban attraction centers affecting the evaluations of real estates depending on their positions. In order to make position-based decisions about the data being stored in the Geographical Information System, the geographical data were questioned and monitored with analyses. The acquired data were exposed to necessary analyses in the relevant modules of the GIS programs, which enabled us to grade the factors affecting the evaluation for each parcel and try to generate real estate evaluation maps depending on the evaluation-effect factors to be selected as dynamics. Parcel-based real estate evaluations were determined by imposing vector-based cadastral maps on these maps being generated. In this study, a raster real estate evaluation map was generated in unstructured parcels of a sample neighborhood via the scoring method and with the help of the Multi-Criteria Decision-Making Analysis and both environmental and social factors. This system could enable us to question and analyze the features of

  14. 12 CFR 541.16 - Improved residential real estate.

    Science.gov (United States)

    2010-01-01

    ... 12 Banks and Banking 5 2010-01-01 2010-01-01 false Improved residential real estate. 541.16... REGULATIONS AFFECTING FEDERAL SAVINGS ASSOCIATIONS § 541.16 Improved residential real estate. The term improved residential real estate means residential real estate containing offsite or other improvements...

  15. 12 CFR 541.15 - Improved nonresidential real estate.

    Science.gov (United States)

    2010-01-01

    ... 12 Banks and Banking 5 2010-01-01 2010-01-01 false Improved nonresidential real estate. 541.15... REGULATIONS AFFECTING FEDERAL SAVINGS ASSOCIATIONS § 541.15 Improved nonresidential real estate. The term improved nonresidential real estate means nonresidential real estate: (a) Containing a permanent structure...

  16. 76 FR 6488 - Notice of Submission of Proposed Information Collection to OMB; HUD-Owned Real Estate-Good...

    Science.gov (United States)

    2011-02-04

    ... DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT [Docket No. FR-5480-N-11] Notice of Submission of Proposed Information Collection to OMB; HUD-Owned Real Estate--Good Neighbor Next Door Program AGENCY... Lists the Following Information Title of Proposal: HUD-Owned Real Estate--Good Neighbor Next Door...

  17. 33 CFR 211.22 - Real estate Claims Officers.

    Science.gov (United States)

    2010-07-01

    ... 33 Navigation and Navigable Waters 3 2010-07-01 2010-07-01 false Real estate Claims Officers. 211..., DEPARTMENT OF DEFENSE REAL ESTATE ACTIVITIES OF THE CORPS OF ENGINEERS IN CONNECTION WITH CIVIL WORKS PROJECTS Real Estate Claims § 211.22 Real estate Claims Officers. In each Division Office the Division...

  18. 32 CFR 644.30 - Preliminary real estate work.

    Science.gov (United States)

    2010-07-01

    ... 32 National Defense 4 2010-07-01 2010-07-01 true Preliminary real estate work. 644.30 Section 644... PROPERTY REAL ESTATE HANDBOOK Project Planning Military (army and Air Force) and Other Federal Agencies § 644.30 Preliminary real estate work. (a) Preliminary real estate work is defined as that action taken...

  19. 12 CFR 34.62 - Real estate lending standards.

    Science.gov (United States)

    2010-01-01

    ... 12 Banks and Banking 1 2010-01-01 2010-01-01 false Real estate lending standards. 34.62 Section 34.62 Banks and Banking COMPTROLLER OF THE CURRENCY, DEPARTMENT OF THE TREASURY REAL ESTATE LENDING AND APPRAISALS Real Estate Lending Standards § 34.62 Real estate lending standards. (a) Each national bank shall...

  20. Technical life cycle of real estates

    OpenAIRE

    Taina Koskelo

    2001-01-01

    Real estate business is developing fast. Development needs are challenging because of interdiciplinariness and diverseness of the branch. The main mission of real estate business is to provide premises for its customers. Designers are planning the buildings, contractors are building them and owners are supplying premises for users. During the use the real estate market needs different kinds of facilitating services directed to users or owner of buildings. Facilities Management services (FM) c...

  1. 12 CFR 365.2 - Real estate lending standards.

    Science.gov (United States)

    2010-01-01

    ... 12 Banks and Banking 4 2010-01-01 2010-01-01 false Real estate lending standards. 365.2 Section... POLICY REAL ESTATE LENDING STANDARDS § 365.2 Real estate lending standards. (a) Each insured state... extensions of credit that are secured by liens on or interests in real estate, or that are made for the...

  2. 12 CFR 34.83 - Disposition of real estate.

    Science.gov (United States)

    2010-01-01

    ... 12 Banks and Banking 1 2010-01-01 2010-01-01 false Disposition of real estate. 34.83 Section 34.83 Banks and Banking COMPTROLLER OF THE CURRENCY, DEPARTMENT OF THE TREASURY REAL ESTATE LENDING AND APPRAISALS Other Real Estate Owned § 34.83 Disposition of real estate. (a) Disposition. A national bank may...

  3. Texas Real Estate Curriculum Workshop Summary Report.

    Science.gov (United States)

    Lyon, Robert

    The Texas Real Estate Research Center-Texas Education Agency (TRERC-TEA) curriculum workshop was attended by over 40 participants representing 26 Texas community colleges. These participants divided into eight small groups by real estate specialty area and developed curriculum outlines and learning objectives for the following real estate courses:…

  4. 78 FR 57873 - 60-Day Notice of Proposed Information Collection: HUD-Owned Real Estate-Sales Contract and Addendums

    Science.gov (United States)

    2013-09-20

    ... DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT [Docket No. FR-5687-N-36] 60-Day Notice of Proposed Information Collection: HUD-Owned Real Estate--Sales Contract and Addendums AGENCY: Office of the Assistant... Information Collection Title of Information Collection: HUD-Owned Real Estate--Sales Contract and Addendums...

  5. 15 CFR 806.8 - Real estate.

    Science.gov (United States)

    2010-01-01

    ... 15 Commerce and Foreign Trade 3 2010-01-01 2010-01-01 false Real estate. 806.8 Section 806.8 Commerce and Foreign Trade Regulations Relating to Commerce and Foreign Trade (Continued) BUREAU OF ECONOMIC ANALYSIS, DEPARTMENT OF COMMERCE DIRECT INVESTMENT SURVEYS § 806.8 Real estate. Residential real...

  6. 78 FR 66040 - 30-Day Notice of Proposed Information Collection: HUD-Owned Real Estate-Sales Contract and Addendums

    Science.gov (United States)

    2013-11-04

    ... DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT [Docket No. FR-5683-N-91] 30-Day Notice of Proposed Information Collection: HUD-Owned Real Estate--Sales Contract and Addendums AGENCY: Office of the Chief... published a 30 day notice of proposed information collection entitled HUD-Owned Real Estate-Sales Contract...

  7. Real Forestry for Real Estate

    Science.gov (United States)

    Gagnon, Jennifer; Fisher, Jason

    2013-01-01

    Virginia is poised to see an unprecedented change in forest land ownership. To provide new landowners with information on sustainable forest management, we developed a two-part program, Real Forestry for Real Estate. First, we assembled New Landowner Packets, which contain a variety of sustainable forest management resources. Second, two…

  8. Medical real estate in an age of reform.

    Science.gov (United States)

    Hammond, Laca Wong; Camp, Philip J

    2011-04-01

    The following are four ways healthcare organizations are fulfilling their medical real estate needs in an era of change: Real estate monetization. Renovation of existing facilities. A careful focus on containing materials costs. Joint ventures with real estate organizations.

  9. The clash of rural-urban migrants and real estate investors on Phnom Penh's housing market: Prospects for garment workers

    OpenAIRE

    Buttmann, Vera

    2017-01-01

    Housing markets of large cities around the world, particularly in so-called developing and emerging countries, are currently experiencing a clash: On the one hand, large numbers of labour migrants arrive from rural areas and need cheap rental housing. On the other hand, international real estate investment, particularly in the upper market segment, is strong. The resulting mismatch of housing demand and supply increases segregation, marginalises the vulnerable and leads to massive urban devel...

  10. 33 CFR 211.2 - Authority to acquire real estate.

    Science.gov (United States)

    2010-07-01

    ... 33 Navigation and Navigable Waters 3 2010-07-01 2010-07-01 false Authority to acquire real estate..., DEPARTMENT OF DEFENSE REAL ESTATE ACTIVITIES OF THE CORPS OF ENGINEERS IN CONNECTION WITH CIVIL WORKS PROJECTS Real Estate; General § 211.2 Authority to acquire real estate. (a) Congressional authority...

  11. What is the best way to enter Florida's real estate market in today's economy? : This may serve as a simple guide which offers options for a startup real estate company to enter any real estate market

    OpenAIRE

    Bryan, Paul

    2011-01-01

    P&I International real estate (PIIRE for short) is a real estate company which left the Florida real estate market in 2006. PIIRE is now seeking the best method to re-enter the Florida’s real estate market within the near future. The owners are seeking the best method to re-establish their real estate business in Florida. At this point the location in Florida has not yet been determined. The determining factors include financing options, business type entry mode, and governmental issues. ...

  12. Commercial real estate analysis and investments

    NARCIS (Netherlands)

    Geltner, D.; Miller, N.; Clayton, J.; Eichholtz, P.M.A.

    2013-01-01

    The well-known and respected authorship team of Geltner and Miller bring you a new edition of what has become the undisputed and authoritative resource on commercial real estate investment. Streamlined and completely updated with expanded coverage of corporate and international real estate

  13. 7 CFR 1940.406 - Real estate settlement procedures.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 13 2010-01-01 2009-01-01 true Real estate settlement procedures. 1940.406 Section... AGRICULTURE (CONTINUED) PROGRAM REGULATIONS (CONTINUED) GENERAL Truth in Lending-Real Estate Settlement Procedures § 1940.406 Real estate settlement procedures. (a) General. This section provides the instructions...

  14. The Boom and Gloom of Real Estate Markets

    NARCIS (Netherlands)

    D. Brounen (Dirk)

    2008-01-01

    textabstractReal estate markets around the world have earned a complicated reputation. On the one hand, real estate markets offer investors a wide spectrum of profitable investments opportunities, investments that nowadays can be executed by simply buying shares of stock listed by real estate

  15. Real Estate Financing and Interest Rate Hedging : A quantitative real estate investment case study

    OpenAIRE

    van de Wiel, Wimjan; Kristopher Bock, Felix

    2017-01-01

    Background: The expansive monetary policy of the European Central Bank has been leading to all-time-low interest rates and to a strong move into real estate investment. Low interest rates can work in favor of the investor (due to low interest rate expenditures), but increasing interest rates can jeopardize real estate investments. Since changes in interest rates are unpredictable, an investor needs to deal with this volatility. The capital market offers several financial instruments (so-calle...

  16. Listing Specialization and Residential Real Estate Licensee

    OpenAIRE

    Leonard V. Zumpano; Ken Johnson; Randy I. Anderson

    2007-01-01

    Earlier research has found that specialization by real estate agents creates economies of scope for real estate firms. So far, however, no research has addressed this issue at the agent level. The question this research seeks to answer is whether specialization in one side of the real estate transaction increases agent income. The most important finding is that specialization has an asymmetric impact on earnings. Specializing in listings positively enhances agent income. In contrast, speciali...

  17. 12 CFR 208.51 - Real estate lending standards.

    Science.gov (United States)

    2010-01-01

    ... 12 Banks and Banking 2 2010-01-01 2010-01-01 false Real estate lending standards. 208.51 Section... MEMBERSHIP OF STATE BANKING INSTITUTIONS IN THE FEDERAL RESERVE SYSTEM (REGULATION H) Real Estate Lending and Appraisal Standards § 208.51 Real estate lending standards. (a) Adoption of written policies. Each state...

  18. Dutch direct real estate investments in private portfolios

    NARCIS (Netherlands)

    Berkhout, T.M.; Geer, van der G.

    2005-01-01

    Direct real estate plays an important role in our daily lives. The place of direct real estate in the portfolio of a private investor is often limited however. The paper attempts to answer the question of how large the allocation to direct real estate should be to attain an optimal risk/return

  19. Systems engineering real estate development projects

    Science.gov (United States)

    Gusakova, Elena; Titarenko, Boris; Stepanov, Vitaliy

    2017-10-01

    In recent years, real estate development has accumulated a wealth of experience in implementing major projects, which requires comprehension and systematization. The scientific instrument of system engineering is studied in the article and is substantively interpreted with reference to real estate development projects. The most perspective approaches and models are substantiated, allowing strategically to plan the life cycle of the project as a whole, and also to solve the engineering butt problems of the project. The relevance of further scientific studies of regularities and specifics of the life cycle of real estate development projects conducted at the Moscow State University of Economics and Management at the ISTA department is shown.

  20. Effective Continuing Education for Licensed Real Estate Professionals

    Science.gov (United States)

    Tilton, Wendy A.

    2004-01-01

    Mandatory real estate education has been intensely debated for many years. New Jersey is the only state in the nation that does not require licensed real estate agents to attend an ongoing educational event after securing a license to practice. A bill was proposed to the legislature to mandate real estate education in June of 2001. (It was…

  1. Real Estate Investments, Regulation, and Financial Intermediation

    OpenAIRE

    Heinrich, Michael

    2018-01-01

    Real estate as an asset class can deliver high risk-adjusted returns, which are also low-correlated to the returns of other asset classes, such as stocks and bonds. According to the literature, a well-diversified mixed-asset portfolio should therefore comprise between 10% and 30% of real estate. This holds true for large and medium-sized institutional investors, but also for small retail investors (private investors). However, direct real estate proves to be an unsuitable investment for the v...

  2. Real Estate Economics, Management and Investments: New Perspectives and Frontiers

    Directory of Open Access Journals (Sweden)

    Vincenzo Del Giudice

    2018-03-01

    Full Text Available New perspectives and frontiers were highlighted in a Special Issue on “Real Estate Economics, Finance and Investments”. The twenty-eight papers that were selected and published emanated from scholars from universities all over the world with the aim to represent more recent advances in building management, mass appraisal methods, real estate risk management, economic evaluation of real estate investment projects, real estate market, property, social housing, real estate economics, real estate finance, building transformation and economic effects on environment. These papers helped to determine a unique and valuable opportunity to experiment with multiple approaches to these ever more crucial topics. This note proposes a brief review of the twenty-eight papers, concluding with some reflections about policy, practice and research on real estate issues.

  3. 7 CFR 767.102 - Leasing non-real estate inventory property.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 7 2010-01-01 2010-01-01 false Leasing non-real estate inventory property. 767.102..., DEPARTMENT OF AGRICULTURE SPECIAL PROGRAMS INVENTORY PROPERTY MANAGEMENT Lease of Real Estate Inventory Property § 767.102 Leasing non-real estate inventory property. The Agency does not lease non-real estate...

  4. Accounting costs of transactions in real estate

    DEFF Research Database (Denmark)

    Stubkjær, Erik

    2005-01-01

    in relating theoretical conceptualizations of transaction costs to national accounting and further to the identification and quantification of actions on units of real estate. The notion of satellite accounting of the System of National Accounts is applied to the segment of society concerned with changes......The costs of transactions in real estate is of importance for households, for investors, for statistical services, for governmental and international bodies concerned with the efficient delivery of basic state functions, as well as for research. The paper takes a multi-disciplinary approach...... in real estate. The paper ends up with an estimate of the cost of a major real property transaction in Denmark....

  5. 32 CFR 552.16 - Real estate claims founded upon contract.

    Science.gov (United States)

    2010-07-01

    ... 32 National Defense 3 2010-07-01 2010-07-01 true Real estate claims founded upon contract. 552.16... Real Estate Claims Founded Upon Contract § 552.16 Real estate claims founded upon contract. (a) Purpose... interest in real estate for which compensation must be made according to the Fifth Amendment to the...

  6. Advertising Model of Residential Real Estate Object in Lithuania

    Directory of Open Access Journals (Sweden)

    Jelena Mazaj

    2012-07-01

    Full Text Available Since the year 2000, during the period of economic growth, the real estate market has been rapidly expanding. During this period advertising of real estate objects was implemented using one set of similar channels (press advertising, Internet advertising, leaflets with contact information of real estate agents and others, however the start of the economic recession has intensified the competition in the market and forced companies to search for new advertising means or to diversify the advertising package. The article presents real estate property, as a product, one of the marketing components – including advertising, conclusions and suggestions based on conducted surveys and a model for advertising the residential real estate objects.Article in Lithuanian

  7. Design optimization of real estate tax and effect analysis in China

    Directory of Open Access Journals (Sweden)

    Jingjiuan Guo

    2014-05-01

    Full Text Available Purpose: The objective of this research is to reform the current real estate tax system and establish the real estate tax system suitable for China’s national conditions.Design/methodology: Based on the necessity of the real estate tax reform, the paper studies the system optimization and its effects analysis of the real estate tax. At last, the paper uses the system dynamics to demonstrate the feasibility of the real estate tax from an empirical point.Findings: With the system dynamics, we can establish the causal relationship of the influence factors and forecast the impact on the future real estate prices. It can also provide some suggestions for China’s real estate tax reform.Research limitations/implications: The establishment of the model might not be very mature, so we need the further study and improvement.Originality/value: This study was the first to use system dynamics to analyze the impact of real estate taxes on real estate prices, and we hope to provide some suggestions for China’s real estate tax reform.

  8. Real Estate Value Tax Based on the Latvian Experience

    Directory of Open Access Journals (Sweden)

    Hełdak Maria

    2015-02-01

    Full Text Available The article deals with the subject of the planned real estate changes in Poland as viewed in relation to the solutions accepted in Latvia. The current basis for real estate tax is a set fee per 1m² of the estate’s area established in a town council resolution, taking into account the maximum fees established by the Minister of Finances. Currently, the owners of real estates with identical area often pay the same tax regardless of the location, condition and function of the real estate formulated in the plan. The cadastral tax currently in preparation addresses these and other features which influence the value of real estate. A set cadastral value approximate to the market value will serve as the basis for determining the cadastral tax. The principles of real estate tax retrieval in Poland are not clearly established which is why it might prove useful to use the experience of other countries undergoing similar governmental changes. The article makes references to tax solutions recognized in Latvia in the domain of tax fees, valuation principles and problems accompanying real estate tax retrieval.

  9. Spatially varying coefficient models in real estate: Eigenvector spatial filtering and alternative approaches

    NARCIS (Netherlands)

    Helbich, M; Griffith, D

    2016-01-01

    Real estate policies in urban areas require the recognition of spatial heterogeneity in housing prices to account for local settings. In response to the growing number of spatially varying coefficient models in housing applications, this study evaluated four models in terms of their spatial patterns

  10. The Relationship between Stock Returns and Past Performance of Hotel Real Estate Industry in the US: Is Hotel Real Estate prone to overinvestment

    OpenAIRE

    Minye Zhang; Yongheng Deng

    2008-01-01

    Hotel real estate industry is an important economy in the U.S. This study examines the return patterns of hotel real estate stocks in the U.S. from 1990 to 2007. This study utilizes an integrated framework which includes the most critical explanatory variables to investigate the determinants of the contrarian or momentum profits of the hotel real estate industry. The study finds that the magnitude and persistence of future returns of hotel real estate stocks can be predicted based on past ret...

  11. PROTECTION FROM INFLATION BY INVESTING IN REAL ESTATES, ALBANIAN CASE

    Directory of Open Access Journals (Sweden)

    Dorina KRIPA

    2015-10-01

    Full Text Available Nowadays investing in Real Estates is one of the main investing alternatives. It has spread fast in all the international markets, and has evolved in other indirect tools of investing, based on the investors’ demands and a country’s economic situation. Investing in Real Estates has become an attractive alternative because it offers protection from Inflation and also diversification. Therefore, the increase in these assets’ prices, and the increase in Inflation at the same time, provides the investor with high rate of returns from his portfolio. Even the periodic income from the rent, reflects the changes in Inflation. As a result, reviewing the literature, we conclude that Real Estates are protective in inflationist periods. The income from Real Estates tends to increase faster in inflationist environments, allowing the investor to keep real rates of returns. Real Estates have always behaved different from bonds, options and stocks. Real Estates have their particular life cycle, which is distinguished by the boom and bust periods, in particular The Commercial Real Estate in the 80’ and The Residential Real Estate in the 2008 crisis. Usually Real Estates have a low correlation with other classes of assets. This makes investors invest more in Real Estates, and now it is normal for an investor with passive or active strategy to own more than one Real Estate for profit intentions. This topic has been chosen in order to understand in details the relationship between Real Estates and Inflation in Albania. To explain this relationship, it has been used the model of a linear regression. It has been identified The House Price Index (a representative of Real Estates in Albania as a dependent variable and Inflation as an independent variable. From this model, we conclude that there is a positive and linear relationship between The Price Index and Inflation. In conclusion, if the economy has Inflation and the GDP Deflator increases by 1 %, then The

  12. The real estate market as the foundation of the value and forecast as a purpose: trend and real estate cycles

    Directory of Open Access Journals (Sweden)

    Paolo Rosasco

    2013-08-01

    Full Text Available The purpose of this project is that of inquiring around the relations existing among the main variables characterizing the Genovese residential real estate market which determine their performance in time through the data analysis of the two observers of the real estate market: ASSIMIL and OMI. The analysis has developed on five selected market homogeneous areas within the territory of the town of Genoa. The aim is that to test whether it’s possible or not to recognize a cyclical of values in time and how they appear by using two different sources of data. The correct forecast of the real estate market is, in fact, strategic for the valuation of the feasibility of interventions and for the construction of reliable real estate investment scenarios.

  13. A viable real estate economy with disruption and blockchain

    NARCIS (Netherlands)

    Veuger, Jan

    2017-01-01

    Two titles in one cover. On page 56-112 there's the English version of the book: 'A viable real estate economy with disruption and blockchain. Does real estate still have the value that it had, or is the valuation of real estate going to change due to surprising products and services, innovative

  14. The Corporate Real Estate Market in Public Statistics in Poland

    Directory of Open Access Journals (Sweden)

    Konowalczuk Jan

    2014-07-01

    Full Text Available This paper presents theoretical considerations regarding the needs and criteria of creating ownership divisions of real estate markets for the purpose of public surveys and research. The scope of necessary changes to the collection of information in public registers and institutional conditions is indicated, as a necessary aspect towards enabling separate studies for corporate real estate to be conducted. Study results comparing the basic parameters of the real estate market in the Silesian voivodeship (Silesia province in 2004-2012, as per the Central Statistical Office (CSO annual reports, are also presented, as are the results of an analysis of data collected from a database of appraisers and valuers. The market parameters adopted for comparison have in both cases been developed based on the same source data obtained from public documents of the Registers of Real Estate Prices and Values (RREPV. The article presents the detailed results of own research on the real estate market in the Silesian voivodeship for 2012, with regards to the amount of real estate, the transaction values, the area of properties, and selected averages with regards to property type in line with those used in CSO studies. Also included is an assessment of the completeness of the market data presented by the CSO, taking into account the selected types of real estate. This paper also indicates the results of a pilot survey study of office workers of the RREPV in poviat (district council offices. The comparison of the regional real estate market forms a basis for the critical evaluation of the categories of real estate used in official statistics and selected forms of real estate turnover. Proposals regarding the needs and conditions that must be met in order to enable research on the corporate real estate market have also been formulated.

  15. THE CONCEPT AND ESSENCE, THE STRUCTURE OF REAL ESTATE MARKET

    Directory of Open Access Journals (Sweden)

    Edgar V. Hovsepyan

    2015-01-01

    Full Text Available With the help of the international research literature, and the legislative framework of the Russian Federation and the Republic of Armenia in the article reveals the basic concepts and the essence of the real estate market, as well as given the classification of real estate. Thoroughly explains the difference between the concepts of "real estate" and "real property". In the article considered the main elements which includes the structure of the real estate market.

  16. Real estate valuation in the Republic of Serbia

    Directory of Open Access Journals (Sweden)

    Božić Branko S.

    2014-01-01

    Full Text Available There is no complete and systemized infrastructure for efficient and reliable evaluation of real estates in the Republic of Serbia. This is confirmed by analysis of the applicable regulations which treat valuation of real estates in different ways. This practice contradicting numerous standards and applicable directives (INSPIRE directive, Strategy of the development of geospatial data infrastructure in the Republic of Serbia etc., as well as numerous other examples of good practice governing the activities of collecting and maintaining spatial data infrastructure. By the Law on State Survey and Cadaster of the 2009, the Republic Geodetic Authority is ensured to the jurisdiction of the development of mass appraisal, which should provide real estate market value for all real estates in the territory of the Republic of Serbia. In contrast, the position and the role of local government being increasable stronger in creating the budget, which is closely associated with the values of resources and capital which local government have. Determing the property tax is the responsibility of the local government and therefore its role in the process of valuation of immovable property is of great importance. In addition to local governments, the Tax Administration traditionally determines real estate values. This paper analyzes the current situation and initiate further activities on the development of the system of evaluation of real estates in the Republic of Serbia.

  17. 32 CFR 643.13 - Military requirement for real estate under grant.

    Science.gov (United States)

    2010-07-01

    ... 32 National Defense 4 2010-07-01 2010-07-01 true Military requirement for real estate under grant... (CONTINUED) REAL PROPERTY REAL ESTATE General § 643.13 Military requirement for real estate under grant. When a military requirement arises for real estate which is being used under a grant of non-Army use, the...

  18. Argus developer in practice real estate development modeling in the real world

    CERN Document Server

    Havard, Tim M

    2014-01-01

    First ""missing manual"" for Argus Developer--case studies show readers how to analyze a development, something Argus manuals don't do. Argus Developer is by far the leading program for real estate developers worldwide The book is an education in real estate finance as well as the program Author teaches seminars and consults with people using the program--back of room sales likely Author has three other books on real estate development Possibility that Argus gets behind the project The book will contain dozens of screenshots

  19. 12 CFR 560.172 - Re-evaluation of real estate owned.

    Science.gov (United States)

    2010-01-01

    ... 12 Banks and Banking 5 2010-01-01 2010-01-01 false Re-evaluation of real estate owned. 560.172... of real estate owned. A savings association shall appraise each parcel of real estate owned at the... under the particular circumstances. The foregoing requirement shall not apply to any parcel of real...

  20. 7 CFR 1951.11 - Application of payments on real estate accounts.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 14 2010-01-01 2009-01-01 true Application of payments on real estate accounts. 1951... Servicing Policies § 1951.11 Application of payments on real estate accounts. (a) Regular payments. If a borrower owes more than one type of real estate loan, or has received initial and subsequent real estate...

  1. 17 CFR 210.12-29 - Mortgage loans on real estate. 1

    Science.gov (United States)

    2010-04-01

    ... 17 Commodity and Securities Exchanges 2 2010-04-01 2010-04-01 false Mortgage loans on real estate... § 210.12-29 Mortgage loans on real estate. 1 [For Certain Real Estate Companies] Column A—Description 2... amount of the extended mortgages, explain. 7 If any item of mortgage loans on real estate investments has...

  2. 32 CFR 643.3 - Authority to grant use of real estate.

    Science.gov (United States)

    2010-07-01

    ... 32 National Defense 4 2010-07-01 2010-07-01 true Authority to grant use of real estate. 643.3... PROPERTY REAL ESTATE General § 643.3 Authority to grant use of real estate. (a) The United States.... (b) One of the principal authorities for the use of military real estate for commercial purposes is...

  3. Accessibility of Real Estate by Transportation as a Determinant of the Development of Suburban Real Estate Markets – Case Study

    Directory of Open Access Journals (Sweden)

    Wolny Ada

    2016-03-01

    Full Text Available The aim of this article is to show the accessibility of real estate by transportation as a factor that significantly determines the decision to acquire it. Direct access to a public road, or access to an internal road that provides communication with the public road, are a factor affecting the value of real estate. In addition, this factor is taken into account in the process of changing the function of the area, especially in determining zoning and land use. The decision of purchasing real estate often depends on transportation accessibility, because it has an impact on developing the selected plot.

  4. The Role Of Social Media In Real Estate Marketing: A Research On The Transformation Of Real Estate Marketing In Turkey

    Directory of Open Access Journals (Sweden)

    Çiğdem Aytekin

    2017-07-01

    Full Text Available While the new media changes our daily life practices, it also causes some transformations in thefield of marketing. Today it can be said that the real estate sector is also inevitably affected by thistransformation and that it has developed new business models that include social media. Alexa is awebsite managed by amazon.com, which displays web traffic on a world and country basis. In this way,businesses can continuously monitor the visitor performance of their websites. In this study, the rankingsof the Alexa web site were used to construct the sample of the research and in this way the visitortraffic was determined by the highest five real estate website in Turkey tracing techniques. On theother hand, the practices of real estate web sites to use social networks have been compared to the Alexavalue ranks by examining them on specific networks and within defined metrics. Thus, it can beshown whether the real estate web site with the highest value metric has the same order in the Alexavaluation, and the role of social media in real estate marketing is evaluated within the dimensions oftransformation. Research is essential since it makes an instantaneous evaluation of the circumstancesand snaps a moment in the timeline.

  5. An Analysis of the Real Estate Occupation.

    Science.gov (United States)

    Harestad, Clifford E.; And Others

    The general purpose of the occupational analysis is to provide workable, basic information dealing with the many and varied duties performed in the real estate occupation. It represents an accounting of what must be done, but not how the entire cycle of a residential sale is completed through the services of a real estate person and the…

  6. Analysis of Income/Commercial Real Estate Transactions.

    Science.gov (United States)

    Apfelberg, Robert S.

    Basic concepts in long- and short-term financing of real estate property are discussed in this text for real estate personnel. Two of the more important of these are leverage, the relationship between the return received by the equity and mortgage investors, and risk, the assessment of the probability that all or part of the investment may be…

  7. 7 CFR 767.103 - Managing leased real estate inventory property.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 7 2010-01-01 2010-01-01 false Managing leased real estate inventory property. 767... AGENCY, DEPARTMENT OF AGRICULTURE SPECIAL PROGRAMS INVENTORY PROPERTY MANAGEMENT Lease of Real Estate Inventory Property § 767.103 Managing leased real estate inventory property. (a) The Agency will pay for...

  8. Pricing real estate index options under stochastic interest rates

    Science.gov (United States)

    Gong, Pu; Dai, Jun

    2017-08-01

    Real estate derivatives as new financial instruments are not merely risk management tools but also provide a novel way to gain exposure to real estate assets without buying or selling the physical assets. Although real estate derivatives market has exhibited a rapid development in recent years, the valuation challenge of real estate derivatives remains a great obstacle for further development in this market. In this paper, we derive a partial differential equation contingent on a real estate index in a stochastic interest rate environment and propose a modified finite difference method that adopts the non-uniform grids to solve this problem. Numerical results confirm the efficiency of the method and indicate that constant interest rate models lead to the mispricing of options and the effects of stochastic interest rates on option prices depend on whether the term structure of interest rates is rising or falling. Finally, we have investigated and compared the different effects of stochastic interest rates on European and American option prices.

  9. Real estate capitalization of Public Administration Institutions - a chance to stimulate investment and increase economic competitiveness

    Directory of Open Access Journals (Sweden)

    Ionut Constantin

    2012-12-01

    Full Text Available The divide in the development of the different European space regions, is exemplified by the different ability to attract investments between rural and urban areas. Urban areas usually assure to investors a broad availability of structures and services that rural areas cannot offer. Another limiting factor for rural areas is the difficulty the enterprises which want to localize their structures outside the urban area meet when they try to find information about the quantity and the quality of the available structures. This penalization affects also the unused real estates of the public administration institutions; these real estates could represent for the investors an important opportunity to improve area’s resources, meeting some forms of converging collaboration with the public administration institutions. POLYINVEST project aims at improving conditions for investment in the rural areas, directly tackling the development gap between the regions of the South East Europe and to develop an information system useful for those public administration institutions.

  10. 32 CFR 644.27 - Authority to issue Real Estate Directives.

    Science.gov (United States)

    2010-07-01

    ... 32 National Defense 4 2010-07-01 2010-07-01 true Authority to issue Real Estate Directives. 644.27... PROPERTY REAL ESTATE HANDBOOK Project Planning Military (army and Air Force) and Other Federal Agencies § 644.27 Authority to issue Real Estate Directives. Where there is legislative authorization, an...

  11. Integrating Sustainability into the Real Estate Valuation Process: A ...

    African Journals Online (AJOL)

    This paper sought the perception of Nigerian real estate valuers on sustainable development and how sustainability can be integrated into the real estate valuation process in Nigeria. One hundred and sixty Estate Surveyors and Valuers were asked, among others, to rate the significance of a range of sustainability features ...

  12. 7 CFR 1955.124 - Sale with inventory real estate (chattel).

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 14 2010-01-01 2009-01-01 true Sale with inventory real estate (chattel). 1955.124... Property Chattel Property § 1955.124 Sale with inventory real estate (chattel). Inventory chattel property may be sold with inventory real estate if a higher aggregate price can be obtained. Proceeds from a...

  13. Artificial Neural Networks and the Mass Appraisal of Real Estate

    Directory of Open Access Journals (Sweden)

    Gang Zhou

    2018-03-01

    Full Text Available With the rapid development of computer, artificial intelligence and big data technology, artificial neural networks have become one of the most powerful machine learning algorithms. In the practice, most of the applications of artificial neural networks use back propagation neural network and its variation. Besides the back propagation neural network, various neural networks have been developing in order to improve the performance of standard models. Though neural networks are well known method in the research of real estate, there is enormous space for future research in order to enhance their function. Some scholars combine genetic algorithm, geospatial information, support vector machine model, particle swarm optimization with artificial neural networks to appraise the real estate, which is helpful for the existing appraisal technology. The mass appraisal of real estate in this paper includes the real estate valuation in the transaction and the tax base valuation in the real estate holding. In this study we focus on the theoretical development of artificial neural networks and mass appraisal of real estate, artificial neural networks model evolution and algorithm improvement, artificial neural networks practice and application, and review the existing literature about artificial neural networks and mass appraisal of real estate. Finally, we provide some suggestions for the mass appraisal of China's real estate.

  14. Putting Ethics on the Agenda for Real Estate Agents

    OpenAIRE

    Brinkmann, Johannes

    2009-01-01

    A post-print of an article originally published in Journal of Business Ethics: http://www.springer.com/philosophy/ethics/journal/10551 This article uses sociological role theory to help understand ethical challenges faced by Norwegian real estate agents. The article begins with an introductory case, and then briefly examines the strengths and limitations of using legal definitions and rules for understanding real estate agency and real estate agent ethics. It goes on to a...

  15. Influence of Brownfield Conversion on Evaluating Real Estate and Implemeting the Possibilites of Urban Brownfields in Lithuanian Cities

    Directory of Open Access Journals (Sweden)

    Vytautas Bielinskas

    2015-05-01

    Full Text Available The article deals with the problems of brownfield in Lithuania. The paper overviews Lithuanian and foreign experience of integrating the introduced areas into the urban framework based on social, economic, ecological and cultural contextuality. The main problem, on Lithuanian scale, is the absence of an official definition of urban brownfield. The legal framework in Lithuania does not contain any provisions to be processed. The article is aimed at identifying potential threats to the areas in respect of criteria for urban brownfields, and, according to this review, at revealing possible uses of this land. One of the most effective ways of urban sustainable development is the conversion of former military, industrial and other land accepted as the legacy of the Soviet regime. The authors have established a causal relationship resulting in the emergence of the urban areas of wilderness and developed guidance on using them. The authors have analysed and evaluated the existing real estate developers and current trends towards opportunities for private and public partnership (PPP in Lithuania. Although PPP is widespread in most of European countries, it is a rare phenomenon in Lithuania, and has no deep-rooted tradition of this kind of investment in urban infrastructure; however, evaluation is one of the most potential ways to revitalize abandoned urban territories. Based on practices of foreign countries, the authors have identified PPP as a priority.

  16. Towards a listed real estate investment valuation model

    Directory of Open Access Journals (Sweden)

    Douw Gert Brand Boshoff

    2013-09-01

    Full Text Available This paper presents a Listed Real Estate Investment Valuation Model that was developed to investigate the movement in indirect real estate investment through the consideration of the underlying assets of property loan stock companies. Specific reference is given to information that is made available to shareholders by way of annual financial statements in order to determine the extent to which shareholders can make investment decisions based on this information. The study enhances the knowledge of direct vs. indirect real estate investment behaviour and provides more insight into price discovery in the property sector.

  17. Real Estate as a Subject of Spatial Conflict Among Central and Local Authorities

    Directory of Open Access Journals (Sweden)

    Źróbek-Różańska Alina

    2015-06-01

    Full Text Available Currently, real estate located in rural areas neighboring cities are under pressure to become a location for the realization of urban and metropolitan projects. Thus, spatial conflicts are an inherent characteristic of modern urban development. Such conflicts vary in terms of the scope, intensity and course they take. An interesting case illustrating the given issue can be the conflict over real estate owned by the State Treasury (central authority and localized within the power of local authorities (gminas. Such a situation requires mediating and producing an outcome that satisfies the goals of both sides. The authors based the deliberations on the topic of spatial conflicts on the example of the relation between the Agricultural Property Agency division in Olsztyn (APA Olsztyn and the smallest local administration units (gminas located within the borders of the Warmia-Masuria (Województwo Warmińsko-Mazurskie and Podlasie (Województwo Podlaskie Provinces. The aim of the research was to describe the background for potential conflict and to study its proceedings. The aim was achieved through studies of relevant literature and data analysis.

  18. 26 CFR 1.803-5 - Real estate owned and occupied.

    Science.gov (United States)

    2010-04-01

    ... 26 Internal Revenue 8 2010-04-01 2010-04-01 false Real estate owned and occupied. 1.803-5 Section... (CONTINUED) INCOME TAXES Life Insurance Companies § 1.803-5 Real estate owned and occupied. The amount allowable as a deduction for taxes, expenses, and depreciation upon or with respect to any real estate owned...

  19. Trust in a viable real estate economy with disruption and blockchain

    OpenAIRE

    Veuger, Jan

    2017-01-01

    Does real estate still have the value that it once had, or will the valuation of real estate change due to surprising products and services, innovative business models, different market strategies, innovative ways of organizing and managing in the (real estate) markets? Innovation revolves around good facilities in an attractive and stimulating environment. Take disruptive real estate. The driving force behind these developments are new technology, viability, organizing differently and managi...

  20. Geospatial Web Services in Real Estate Information System

    Science.gov (United States)

    Radulovic, Aleksandra; Sladic, Dubravka; Govedarica, Miro; Popovic, Dragana; Radovic, Jovana

    2017-12-01

    Since the data of cadastral records are of great importance for the economic development of the country, they must be well structured and organized. Records of real estate on the territory of Serbia met many problems in previous years. To prevent problems and to achieve efficient access, sharing and exchange of cadastral data on the principles of interoperability, domain model for real estate is created according to current standards in the field of spatial data. The resulting profile of the domain model for the Serbian real estate cadastre is based on the current legislation and on Land Administration Domain Model (LADM) which is specified in the ISO19152 standard. Above such organized data, and for their effective exchange, it is necessary to develop a model of services that must be provided by the institutions interested in the exchange of cadastral data. This is achieved by introducing a service-oriented architecture in the information system of real estate cadastre and with that ensures efficiency of the system. It is necessary to develop user services for download, review and use of the real estate data through the web. These services should be provided to all users who need access to cadastral data (natural and legal persons as well as state institutions) through e-government. It is also necessary to provide search, view and download of cadastral spatial data by specifying geospatial services. Considering that real estate contains geometric data for parcels and buildings it is necessary to establish set of geospatial services that would provide information and maps for the analysis of spatial data, and for forming a raster data. Besides the theme Cadastral parcels, INSPIRE directive specifies several themes that involve data on buildings and land use, for which data can be provided from real estate cadastre. In this paper, model of geospatial services in Serbia is defined. A case study of using these services to estimate which household is at risk of

  1. 20 CFR 404.1069 - Real estate agents and direct sellers.

    Science.gov (United States)

    2010-04-01

    ... 20 Employees' Benefits 2 2010-04-01 2010-04-01 false Real estate agents and direct sellers. 404... § 404.1069 Real estate agents and direct sellers. (a) Trade or business. If you perform services after 1982 as a qualified real estate agent or as a direct seller, as defined in section 3508 of the Code...

  2. 1982-83 Texas College and University Real Estate Course Survey.

    Science.gov (United States)

    Lyon, Robert

    In 1983, the Texas Real Estate Research Center conducted its eighth annual survey of the real estate offerings of the state's two- and four-year colleges. Survey findings, based on a 90% response rate, included the following: (1) 90 institutions (46 community colleges and 44 four-year colleges) offered real estate courses during the 1982-83…

  3. 26 CFR 1.469-9 - Rules for certain rental real estate activities.

    Science.gov (United States)

    2010-04-01

    ... 26 Internal Revenue 6 2010-04-01 2010-04-01 false Rules for certain rental real estate activities... certain rental real estate activities. (a) Scope and purpose. This section provides guidance to taxpayers... rental real estate, including any interest in rental real estate that gives rise to deductions under...

  4. Three Macro Controls Over China’s Real Estate Market

    Institute of Scientific and Technical Information of China (English)

    2007-01-01

    The first macro control: to cool overheated real estate investment June 2003: The People’s Bank of China issued the Notice on Further Strengthening Credit and Loan Business Management of Real Estate

  5. The Concept Of A Sustainable Approach To Corporate Real Estate Management

    Directory of Open Access Journals (Sweden)

    Ziemba Ewa

    2015-12-01

    Full Text Available This paper is conceptual in nature and presents the assumptions of a holistic approach to corporate real estate management. The approach is based on the imperative of sustainability, which has become a determinant of the proposed Sustainable Corporate Real Estate Management (SCREM model. Moreover, the authors indicate that in addition to the presence of the sustainability imperative, corporate real estate management requires the integration and formalization of knowledge about the concepts of corporate real estate management (CREM with those of corporate social responsibility (CSR. This approach is intended to enable the identification and improvement of real estate management processes and, as a result, contribute to more efficient and effective corporate real estate management and continuous and flexible development of enterprises, as well as boosting economic growth and building prosperity for present and future generations.

  6. Maximum drawdown and the allocation to real estate

    NARCIS (Netherlands)

    Hamelink, F.; Hoesli, M.

    2004-01-01

    The role of real estate in a mixed-asset portfolio is investigated when the maximum drawdown (hereafter MaxDD), rather than the standard deviation, is used as the measure of risk. In particular, it is analysed whether the discrepancy between the optimal allocation to real estate and the actual

  7. Municipal Real Estate deployed as a capital asset

    NARCIS (Netherlands)

    Appel - Meulenbroek, H.A.J.A.; Maussen, S.J.E.; de Bis, N.; Verkerk, B.G.

    2004-01-01

    Abstract The aim of this study is to introduce the principles of Corporate Real Estate Management (CREM) within the municipal organization. It is presumed that, looking at the private sector’s accomplishments in this field, these principles will allow a city council to deploy their real estate in a

  8. Online Marketing Issues of Real Estate Companies: a Case of Latvia

    OpenAIRE

    Dumpe, M

    2015-01-01

    Today online marketing has become an integral part of marketing mix. Potential real estate customers prefer to make online research themselves. Therefore, real estate companies should be ready that search engines, corporate web pages, profiles on social media sites should strengthen the image of real estate companies and ensure better communication with customers. The aim of this paper is to explore results of qualitative research regarding real estate online marketing activities. It has been...

  9. MASS APPRAISAL AND REAL ESTATE TAXATION

    Directory of Open Access Journals (Sweden)

    VORONIN V. О.

    2015-12-01

    Full Text Available Raising of problem. The government at the legislative level fixed the definition of market value for tax purposes as mandatory in the implementation of real estate transactions. In order to meet the requirements of objectivity, uniformity and consistency of the results obtained during the evaluation procedures, as well as minimize the influence of subjective factors, there is a need to develop a methodology for evaluating an automated procedure for determining the estimated value of the property based on its market value. To solve this problem, we use special techniques and methods of mass appraisal that incorporates computer-supported statistical analyses, such as multiple regression analysis and adaptive estimation procedure for use in the field of property valuation and property rights. Purpose. Realization of this goal involves the development of the concept of a computer-assisted mass appraisal. The basis of this concept is an adaptive hybrid models of market pricing in different market segments that incorporates software adaptive algorithms for determining the market value by the three evaluation approaches using the results of a multi-level real estate market analysis. It was proposed the utility automated valuation models which is intended for the implementation of a computerized real estate valuation based on the developed software adaptive algorithms. Con-clusion. To achieve this goal have been developed and used concepts underlying of computerized mass appraisal. The basis of this concept is adaptive hybrid pricing models in various segments of the real estate market of Ukraine. The problem is solved by the application of the developed software-based adaptive algorithms for determining the market value of three evaluation approaches using the results of a multi-level analysis of the real estate market. It was pro-posed the model of automated appraisal, according to it was implemented computerization of appraisal procedures on the

  10. Real economic activity and accounting information in Spanish construction and real estate firms

    Directory of Open Access Journals (Sweden)

    Juan Carlos Navarro-García

    2016-01-01

    Full Text Available The aim of this work is to determine whether the accounting information provided by construction and real estate firms in Spain reflects the real economic activity, during upswings and downturns. A relationship is found between economic conditions and financial reporting in a continental European country such as Spain. Although there is a relationship between real housing price growth and financial accounting measures, real estate companies seem to show an artificial position, since they only present a relationship with Return on Assets (ROA based on low quality income (accruals. Therefore, a different financial position influences a different behaviour in these two similar sectors. In fact, some signs alerting of possible risk in real estate firms are shown.

  11. Buying and leasing real estate for veterinary hospitals.

    Science.gov (United States)

    Salzsieder, Karl R

    2006-03-01

    The major factors to be considered in the real estate purchase decision are the interest rate, the depreciation schedule, the property appreciation, the income tax impact, and the impact of paying a principal payment as part of the real estate mortgage. All these factors must be compared with the costs of leasing.

  12. 17 CFR 210.12-24 - Real estate owned and rental income. 1

    Science.gov (United States)

    2010-04-01

    ... 17 Commodity and Securities Exchanges 2 2010-04-01 2010-04-01 false Real estate owned and rental... § 210.12-24 Real estate owned and rental income. 1 Part 1—Real estate owned at end of period Column A... In a separate schedule classify by states in which the real estate owned is located the total amounts...

  13. The Real Estate Inspector. Teachers Instructional Packet (TIP) No. 11, Spring 1986.

    Science.gov (United States)

    Texas A and M Univ., College Station. Texas Real Estate Research Center.

    Part of a series of classroom aids designed for real estate instructors, this instructional packet was designed to help real estate students understand legal requirements for real estate inspectors in Texas. The material is based on Section 18C of the Real Estate License Act, as amended by the 1985 Texas Legislature. Following a presentation on…

  14. 7 CFR 767.201 - Real estate inventory property with important resources.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 7 2010-01-01 2010-01-01 false Real estate inventory property with important... SERVICE AGENCY, DEPARTMENT OF AGRICULTURE SPECIAL PROGRAMS INVENTORY PROPERTY MANAGEMENT Real Estate Property With Important Resources or Located in Special Hazard Areas § 767.201 Real estate inventory...

  15. Trust in a viable real estate economy with disruption and blockchain

    NARCIS (Netherlands)

    Veuger, Jan

    Does real estate still have the value that it once had, or will the valuation of real estate change due to surprising products and services, innovative business models, different market strategies, innovative ways of organizing and managing in the (real estate) markets? Innovation revolves around

  16. Influence of peculiarities of transition economy on real estate market

    OpenAIRE

    Venclauskienė, Deimantė; Snieška, Vytautas

    2010-01-01

    Global integration processes highlight relevance and weight of real estate market in determining economic cycle processes in different countries. Real estate market processes in countries with transition economy differ from real estate market processes in countries with developed economy in their peculiarities, possible reactions of market participators to economic shocks and consequences to country‘s economy. Common problems with property privatization, formation of legal and financial syste...

  17. Lease accounting trouble looms for corporate real estate management

    NARCIS (Netherlands)

    Baltussen, S.; Schelle, T.G.F.; Appel - Meulenbroek, H.A.J.A.; van Egmond, B.; Hesselink, M.; Leersum, van L.

    2014-01-01

    Purpose – The purpose of this paper is to investigate what impact International Financial Reporting Standards (IFRS) lease accounting changes might have on corporate real estate (CRE) strategies, and what the consequences for future corporate real estate portfolio decisions might be.

  18. 12 CFR 560.37 - Real estate for office and related facilities.

    Science.gov (United States)

    2010-01-01

    ... 12 Banks and Banking 5 2010-01-01 2010-01-01 false Real estate for office and related facilities... LENDING AND INVESTMENT Lending and Investment Powers for Federal Savings Associations § 560.37 Real estate for office and related facilities. A federal savings association may invest in real estate (improved...

  19. 26 CFR 1.857-1 - Taxation of real estate investment trusts.

    Science.gov (United States)

    2010-04-01

    ... 26 Internal Revenue 9 2010-04-01 2010-04-01 false Taxation of real estate investment trusts. 1.857-1 Section 1.857-1 Internal Revenue INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURY (CONTINUED) INCOME TAX (CONTINUED) INCOME TAXES Real Estate Investment Trusts § 1.857-1 Taxation of real estate...

  20. THE EVOLUTION OF THE REAL ESTATE MARKET IN THE REPUBLIC OF ARMENIA

    OpenAIRE

    Edgar V. Hovsepyan

    2015-01-01

    The article describes the evolution of the real estate market of the Republic of Armenia. It presents the emergence and development of real estate market after the collapse of the USSR. The main influence on the impact of the global financial crisis on the real estate market in Republic of Armenia. Discusses some of the important issues for long-term development of the real estate market.

  1. 26 CFR 1.856-1 - Definition of real estate investment trust.

    Science.gov (United States)

    2010-04-01

    ... determining whether distributions by a real estate investment trust are to be treated as in exchange for stock; (4) Section 305 applies to distributions by a real estate investment trust of its own stock; (5... “shareholders” include holders of beneficial interest in a real estate investment trust, the terms “stock...

  2. Real Estate Crowdfunding. A financial innovation for direct property investment

    Directory of Open Access Journals (Sweden)

    Giacomo Morri

    2016-12-01

    Full Text Available The aim of this work is to provide a simple overview on crowdfunding with a focus on its potential application to the real estate market. The Global Financial Crisis of 2008 paralyzed the global economy, creating a strong diminishing trust in financial services and in the banking system in general. One of the most revolutionary systems to get funded in the market has been crowdfunding, a way of financing coming directly from the crowd through the Internet. Crowdfunding in real estate started in 2012 with the Jumpstart Our Business Startup Act (JOBS Act in USA and has been developing at a fast rate every year. In Italy, crowdfunding for real estate projects is not allowed yet, but there are various platforms that are already using the concept in different ways. Real Estate Crowdfunding could represent an interesting opportunity for private individual to have an exposure to direct real estate investments. After an initial description of crowdfunding in general, we present real estate crowdfunding in the U.S. by presenting the most relevant cases up to date. Finally, we analyze the Italian market by explaining why this innovative way of financing real estate projects is not feasible yet and how some platforms are legally trying to overcome the current limitations. In the U.S. the RECF has already raised more than $1 billion and there are more than 125 platforms; in Italy there are still limits for startups dealing with crowdfunding and a few platforms are starting to operate with a similar model.

  3. THE EVOLUTION OF THE REAL ESTATE MARKET IN THE REPUBLIC OF ARMENIA

    Directory of Open Access Journals (Sweden)

    Edgar V. Hovsepyan

    2015-01-01

    Full Text Available The article describes the evolution of the real estate market of the Republic of Armenia. It presents the emergence and development of real estate market after the collapse of the USSR. The main influence on the impact of the global financial crisis on the real estate market in Republic of Armenia. Discusses some of the important issues for long-term development of the real estate market.

  4. Towards phronetic knowledge for strategic planning in corporate real estate management: A real options approach

    NARCIS (Netherlands)

    van Reedt Dortland, Maartje; Voordijk, Johannes T.; Dewulf, Geert P.M.R.

    2014-01-01

    Purpose – The objective of this paper is to provide insights about the potential of real option thinking for corporate real estate management (CREM) from the owner-user perspective. A promising approach to classifying and evaluating flexibility in real estate is the real options approach. Most

  5. 12 CFR 560.100 - Real estate lending standards; purpose and scope.

    Science.gov (United States)

    2010-01-01

    ... 12 Banks and Banking 5 2010-01-01 2010-01-01 false Real estate lending standards; purpose and... § 560.100 Real estate lending standards; purpose and scope. This section, and § 560.101 of this subpart....S.C. 1828(o), prescribe standards for real estate lending to be used by savings associations and all...

  6. Real Estate in Denmark

    DEFF Research Database (Denmark)

    Rimmer, Nina Røhr

    2016-01-01

    A general introduction to buying, owning and selling Property i Denmark. The cost of buying and selling property and the tax implications as well as the general concept of real estate is introduced. The paper includes also a brief introduction to some of the aspects which you should beware of when...

  7. Outlook of India’s Real Estate Markets

    OpenAIRE

    Deshmukh, Hrishikesh

    2009-01-01

    This dissertation is aimed at analyzing the Indian Economy from a Macroeconomic view point, with a particular focus on the real Estate sector. The focus on the Real Estate sector includes analyzing the various factors which come into play in the sector, understanding underlying variables and identifying investment opportunities. The economy of India has undergone superb change in the past few decades. The growth of GDP, averaging to a 6% per annum rate, is astounding. The growth in GDP has...

  8. Foreign direct investments into French real estate

    OpenAIRE

    BRIZARD, Arthur

    2013-01-01

    The purpose of this thesis is to draw the global trend of Foreign Direct Investments (FDI) in the French real estate market since 2008 and to understand foreign investors’ behavior and the incentives which urge them to invest in French property market. This study relies on the numerous yearly reports released by consulting and real estate companies and gives an overview of FDI since 2008. From a legal point of view, the French property market is extremely organized. Acquiring, holding and sel...

  9. The Transmission of Real Estate Shocks Through Multinational Banks

    NARCIS (Netherlands)

    Bertay, A.C.

    2014-01-01

    Abstract: This paper investigates the credit supply of banks in response to domestic and foreign real estate price changes. Using a large international dataset of multinational banks, we find evidence of a significant transmission of domestic real estate shocks into lending abroad. A 1% decrease in

  10. THE ANALYSIS OF THE REAL ESTATE INVESTMENTS IN THE CURRENT ECONOMIC ENVIRONMENT

    Directory of Open Access Journals (Sweden)

    Hristea Anca Maria

    2013-07-01

    Full Text Available Real estate investments are one of the most attractive business opportunities in the context of the contemporary economy, generally marked by economic recession and especially by monetary and financial instability. Last years international reporting concluded that deepening the global economic crisis determined an increase of the real estate request, while despite all expectations one did not assist a crash of the prices. Economic reality showed that real estate assets value (buildings, land kept proportions with economic reality over time. A comparison between stock exchange market and the real estate market shows that while an movables investor (investments in stocks, bonds or life insurance might lose completely his initial investment, the investments in real estate assets, such as buildings, would keep their quality as goods and would also keep a value to better resist shocks and thus allowing an increase of the capital. When appreciating the value of an investment the first things to analyze are the return, liquidity and risk criteria, which are essential in real estate investments too. Stimulating real estate market must be not only a wish but also a reality of global economy, since it can correct many of the aggregated indicators of a country. Containing scientifically detached from economic practice, this article is addressed to readers with interests in real estate investment. The language is usually referred particularly to the qualitative side of the real estate market approach. The feasibility of the real estate investments is being conditioned by their capacity to generate important profits, on the background of the reduction of the duration of recovery of their value. The economic instability from the last couple of years has generated fears and failures but, paraphrasing Johann Wolfgang von Goethe, courage is a mixture of genius, magic and power that helps us succeed in everything we set our mind to. The investments on the real

  11. The Production and the Uneven Valorization of Urban Space in Campos Dos Goytacazes-RJ: An Analysis of State and Real Estate Developers Actions

    Directory of Open Access Journals (Sweden)

    Marcos Antônio Silvestre Gomes

    2015-07-01

    Full Text Available This article discusses some aspects of the production of urban space considering the social agents actions. The methodology was based on literature searches, data surveys and interviews in public and private agencies, empirical observations and mapping of the urban area. The methodology was based on literature searches, data surveys and interviews in public and private agencies, empirical observations and mapping of the urban area. The objective is to present an analysis of state and real estate developers actions in the production and uneven valorization of urban space in Campos dos Goytacazes-RJ. The results of work indicate the intensification and complexification of actions of these agents with the advent of the oil economy. In the period 1981-2011 there was an intense valuation of South West-East axis of the city, with a vertiginous process of vertical integration and deployment of a high standard closed allotments, which has

  12. The Dynamics of Real Estate Field of Value

    Directory of Open Access Journals (Sweden)

    Kuryj-Wysocka Oksana

    2015-02-01

    Full Text Available Property is worth only as much as market participants are willing to pay for it - that is as much as the potential of the property. Determining the potential of real estate is an extremely difficult task, because certain properties can be viewed in different ways. A person’s attitude towards a given real estate finds reflection in the value of the property.

  13. The Impact of Real Estate Market in the Albanian Economy

    Directory of Open Access Journals (Sweden)

    Dorina Kripa

    2015-05-01

    Full Text Available The real estate market has an important impact on social and economic development of a country, and it involves many aspects which increase the complexity of the impact analysis and often have opposite directions. This can be supported by the fact that real estate is one of the most important items in public spending3, but also in investment expenses in general (this is especially typical for Albania. These expenses are mainly related to infrastructure and accommodation of homeless people by the National Housing Entity. Researchers have studied the relation between the price of real estates with the GDP of a country, concluding that real estate prices and the government policies related to them, do impact the GDP growth, and movements in residential prices can be used to forecast GDP growth. On the other hand, when purchasing a home, individuals use all their savings, or take loans, which constantly cause the reduction of consumption and saving possibilities in order to afford the installments and other loan expenses. So, from this point of view, this investment may have an adverse effect, even on GDP. But, the question we raise in this study is: what impact has the real estate market in Albanian economy? We begin the study by emphasizing the importance of the real estate market, and then we identify key developments related to this market’s financing, price developments and the construction activity, as an important part of the market itself. The study is concluded with a regression analysis on the role the real estate market plays in the Albanian economy.

  14. APPLICATION OF THE SYNERGETIC APPROACH IN THE THEORY OF REAL ESTATE VALUATION

    Directory of Open Access Journals (Sweden)

    Olga BUZU

    2014-08-01

    Full Text Available Synergetic approach is especially evident in the area of real estate valuation. Constituents and legal and material elements of the real estate, many components of these objects imply the emergence of new qualities (high value of the unique real estate. It is proposed to analyze the synergy of different levels in determining the value of real estate, with the inclusion of the principle of synergy in a set of principles for determining the property value.

  15. Value adding management of hospital real estate : Balancing between different stakeholders’ perspectives

    NARCIS (Netherlands)

    van der Zwart, J.; van der Voordt, D.J.M.

    2013-01-01

    In addition to cost effectiveness, possible contributions of real estate to organisational performance are incorporated in strategic corporate real estate management nowadays more and more. This paper explores the concept of adding value by real estate and how this concept is being applied in design

  16. Atypical real estate objects: legal regime and control system

    Directory of Open Access Journals (Sweden)

    Voskresenskaya Elena

    2017-01-01

    Full Text Available The legal concept of immovable things raises controversy in legal practice. Determining and understanding the definition of real estate, the complexity and diversity of these objects, a growing appearance of so-called atypical properties (such as sport stadiums, roads, boreholes, analyzing legislation and judicial practice of this field – all these issues call for a deep study of this topic. There is a conflicting arbitration practice, the subject of which is the learning of the legal nature of atypical real estate (for instance, asphalt playgrounds, car parks, fences, wells. The object of the research is the learning of the legal status of atypical real estate.

  17. Real estate boom and export performance bust in Croatia

    Directory of Open Access Journals (Sweden)

    Marina Tkalec

    2014-06-01

    Full Text Available The goal of this research is to estimate the effect of resource reallocation from the manufacturing to the real estate economic sector on exporting activity in Croatia, a small open post-transition country that experienced a real estate boom during the previous decade. This paper follows the work by Égert and Kierzenkowski (2014 as we test the hypothesis that the real estate boom had an adverse impact on country’s export performance. For that purpose we use quarterly data ranging from 1Q1998 to 3Q2013, and estimate export equations using maximum likelihood and dynamic ordinary least squares estimators of cointegration. Our results indicate that the distortion of relative prices in favor of non-tradable sectors (construction and real estate, which is a direct by-product of the real estate boom, has had stifling effects on export performance. Our results also suggest that ailing cost competitiveness and governments’ inability to implement policies promoting private sector economic development adversely influenced export performance during the period analyzed. The basic conclusion of our research is that the expansion of a non-tradable sector in a country with limited supply of production factors can have a detrimental effect on the ability of the tradable sector to increase its output and compete in international markets.

  18. 20 CFR 404.1082 - Rentals from real estate; material participation.

    Science.gov (United States)

    2010-04-01

    ... a real estate dealer if you are engaged in the business of selling real estate to customers for... convenience and are other than those usually provided in connection with the rental of rooms or other space...

  19. MODERN TENDENCIES IN THE FIELD OF THE COMMERCIAL REAL ESTATE MANAGEMENT IN UKRAINE

    Directory of Open Access Journals (Sweden)

    L.Chubuk

    2014-04-01

    Full Text Available The advantages of owners, got from the use of services of professional real estate management, are exposed. The spheres of most distribution of professional services of real estate management, their progress trends, prevailing form of organization of mutual relations between the owner of the real estate and managing company, special terms of payments for services are revealed. The range of management services and specific criteria of a choice of management companies in domestic practice are exposed, the rating of the leading companies in the market of complex services of commercial real estate management in Ukraine is given. Dynamics of the indicators, characterizing a condition of the market and efficiency of using of commercial real estate in Kiev for the period before and after financial and economic crisis, is illustrated. Reasons that limits possibilities of strategic real estate management in a long-term prospect are examines. The comparative analysis of attractiveness of basic sectors of the Ukrainian commercial property market (office, trade, ware-house real estate is conducted from positions of investing and professional management. There is proved that perspective of investments in the ware-house (industrial real estate is reasonable.

  20. Market Motivations for Voluntary Carbon Disclosure in Real Estate Industry

    Science.gov (United States)

    Ufere, Kalu Joseph; Alias, Buang; Godwin Uche, Aliagha

    2016-07-01

    Climate change mitigation in developing economies is a balancing act, between economic development and environmental sustainability. The need for market friendly determinants for low carbon economy, without compromising economic development is of essence. The aim of the study is to determine market friendly factors, which motivates voluntary carbon information disclosure, in the real estate industry. The study modeled economic factor with three variables and financial market factor with three variables against voluntary carbon information disclosure in the real estate industry. Structural equation modeling was used for the modeling and content analysis was used to collect data on the level of voluntary carbon information disclosure, from 2013 annual reports of 126 real estate sector companies listed in the Kuala Lumpur Stock Exchange (KLSE). The model achieved a good fit, and was acceptable prediction. The results show that financial market factor has a significant predictive influence on voluntary carbon disclosure. The application of the result is that financial market factor is has a significantly positive influence on companies’ willingness to make voluntary carbon disclosure in the real estate industry. The result may be limited to the real estate industry that is highly leveraged on syndicated fund.

  1. Decision-making in real estate development : application of game theory

    NARCIS (Netherlands)

    Clumac, B.; Blokhuis, E.G.J.; Han, Q.

    2011-01-01

    Decision making in real estate development projects has generally undergone a number of important changes over the last decades. This transition represented a shift from governmentally dominated top-down spatial planning to bottom-up, public-private engagement schemes in real estate development (Tam

  2. 26 CFR 1.857-7 - Earnings and profits of a real estate investment trust.

    Science.gov (United States)

    2010-04-01

    ... 26 Internal Revenue 9 2010-04-01 2010-04-01 false Earnings and profits of a real estate investment... (CONTINUED) INCOME TAX (CONTINUED) INCOME TAXES Real Estate Investment Trusts § 1.857-7 Earnings and profits of a real estate investment trust. (a) Any real estate investment trust whether or not such trust...

  3. Real estate added value and decision-making in hospital infrastructure

    NARCIS (Netherlands)

    Van der Zwart, J.

    2011-01-01

    This paper explores the concept of adding value to corporate performance by real estate, and how this concept could be applied in decision-making processes for new hospital infrastructure. A literature review forms the starting point for interviews carried out with hospitals‘ CEOs on how real estate

  4. The economics of real estate brokerage and contracts

    OpenAIRE

    Wignall, Christopher David

    2009-01-01

    This dissertation collects research on real estate brokerage and contract theory that was completed while the author was a student at the University of California, San Diego. Chapter 1 presents an empirical analysis of the role of social networks in economic decision-making. Specifically, it is demonstrated that individuals are likely to choose the same real estate agent as a peer who is in the same social network. Evidence is presented that the social influence comes through peer-to-peer com...

  5. 7 CFR 767.202 - Real estate inventory property located in special hazard areas.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 7 2010-01-01 2010-01-01 false Real estate inventory property located in special...) FARM SERVICE AGENCY, DEPARTMENT OF AGRICULTURE SPECIAL PROGRAMS INVENTORY PROPERTY MANAGEMENT Real Estate Property With Important Resources or Located in Special Hazard Areas § 767.202 Real estate...

  6. Factors influencing academic performance of real estate students in Nigeria

    NARCIS (Netherlands)

    Ayodele, Timothy Oluwafemi; Oladokun, Timothy Tunde; Gbadegesin, J.T.

    2016-01-01

    Purpose: The purpose of this paper is to examine the factors affecting academic performance of real estate students in a developing country like Nigeria. Design/methodology/approach: Data for the study were collected with the aid of questionnaire served on 152 final year real estate students of

  7. Gauging the investment potential of international real estate markets

    OpenAIRE

    Lee, Stephen L.

    2005-01-01

    Investing in real estate markets overseas means venturing into the unknown, where you meet unfamiliar political and economic environments, unstable currencies, strange cultures and languages, and so although the advantages of international diversification might appear attractive, the risks of international investment must not be overlooked. However, capital markets are becoming global markets, and commercial real estate markets are no exception, accordingly despite the difficulties posed by v...

  8. RELATIONSHIP QUALITY IN REAL ESTATE COMPANIES

    Directory of Open Access Journals (Sweden)

    Florin Alexandru LUCA

    2016-05-01

    Full Text Available Customer loyalty is becoming a topic of interest which is winning increasingly more importance lately, as a result of the focus of marketing research on business relationships. One of the most important factors that determine customer loyalty is Service Quality.The stage of qualitative research consists of analyzing the research literature from this domain, which highlights the Relationship Quality construct as a distinct dimension, relevant for the real estate field. The summary of the main models of relationship quality indicate the most commonly used variables to describe this construct. The stage of quantitative research aims at testing the proportion of content validity for the most commonly used variables. The results describe an estimation of the dimensions of the Relationship Quality construct for the case of real estate services.

  9. SPECIFIC ASPECTS OF REAL ESTATE MARKET AS AN OBJECT OF STATISTICAL RESEARCH

    Directory of Open Access Journals (Sweden)

    Yuliya V. Bazhdanova

    2013-01-01

    Full Text Available The article deals with the peculiarities of development of the residential real estate market of Moscow. Several approaches to the analysis of formation of this economy segment are considered. Foundations and classification of residential real estate are given. A main attention is paid to parameters of assessed value of real estate. The pricing is considered within the frame of the existing tasks and goals.

  10. 75 FR 15465 - RMR Real Estate Income Fund, et al.; Notice of Application

    Science.gov (United States)

    2010-03-29

    ... Real Estate Income Fund, et al.; Notice of Application March 23, 2010. AGENCY: Securities and Exchange.... APPLICANTS: RMR Real Estate Income Fund and RMR Advisors, Inc. FILING DATES: December 31, 2003, September 23.... Applicants' Representations 1. RMR Real Estate Income Fund (``RIF'') is a closed-end management investment...

  11. 41 CFR 102-73.10 - What is the basic real estate acquisition policy?

    Science.gov (United States)

    2010-07-01

    ... ESTATE ACQUISITION General Provisions § 102-73.10 What is the basic real estate acquisition policy? When... real estate and related services in an efficient and cost effective manner. ... 41 Public Contracts and Property Management 3 2010-07-01 2010-07-01 false What is the basic real...

  12. 7 CFR 767.52 - Disposition of personal property from real estate inventory property.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 7 2010-01-01 2010-01-01 false Disposition of personal property from real estate..., personal property has been left on the real estate inventory property, the Agency will notify the former real estate owner and any known lienholders that the Agency will dispose of the personal property...

  13. Privatization of Land Plot Under Integral Real Estate Complex

    Directory of Open Access Journals (Sweden)

    Maruchek A. A.

    2014-10-01

    Full Text Available The article deals with the questions concerning the privatization of a land plot under integral real estate complex. The authors come to conclusion that a number of legislation norms relating to privatization of a land plot do not take into account the construction of an integral real estate complex that could cause some problems in the realization of the right to privatization of the land plot

  14. Real Estate Across the United States (REXUS) (Lease)

    Data.gov (United States)

    General Services Administration — Real Estate Across the United States (REXUS) is the primary tool used by PBS to track and manage the government's real property assets and to store inventory data,...

  15. Working with a Real Estate Developer.

    Science.gov (United States)

    Bell, Allen; Henderson, Mark

    2001-01-01

    Discusses outsourcing to an experienced real estate developer as a more efficient means of meeting school development goals on a strict time schedule. Advantages of outsourcing are covered as is advice on selecting the right development firm. (GR)

  16. 26 CFR 1.172-10 - Net operating losses of real estate investment trusts.

    Science.gov (United States)

    2010-04-01

    ... 26 Internal Revenue 3 2010-04-01 2010-04-01 false Net operating losses of real estate investment... (continued) § 1.172-10 Net operating losses of real estate investment trusts. (a) Taxable years to which a loss may be carried. (1) A net operating loss sustained by a qualified real estate investment trust (as...

  17. Methods of Assessing Noise Nuisance of Real Estate Surroundings

    Directory of Open Access Journals (Sweden)

    Szopińska Kinga

    2016-03-01

    Full Text Available Testing what factors create the market value of real estate is key information when preparing property valuations as well as other opinions and professional evaluations on the basis of which court verdicts or administrative decisions are made. One of the factors influencing the value of some real estate is the level of noise present in the surroundings, which can lead to the occurrence of noise nuisance negatively affecting social relations.

  18. Real estate appraisal of land lots using GAMLSS models

    OpenAIRE

    Florencio, Lutemberg; Cribari-Neto, Francisco; Ospina, Raydonal

    2011-01-01

    The valuation of real estates (e.g., house, land, among others) is of extreme importance for decision making. Their singular characteristics make valuation through hedonic pricing methods dificult since the theory does not specify the correct regression functional form nor which explanatory variables should be included in the hedonic equation. In this article we perform real estate appraisal using a class of regression models proposed by Rigby & Stasinopoulos (2005): generalized additive mode...

  19. 41 CFR 102-73.15 - What real estate acquisition and related services may Federal agencies provide?

    Science.gov (United States)

    2010-07-01

    ... 41 Public Contracts and Property Management 3 2010-07-01 2010-07-01 false What real estate... REGULATION REAL PROPERTY 73-REAL ESTATE ACQUISITION General Provisions § 102-73.15 What real estate... provide real estate acquisition and related services, including leasing (with or without purchase options...

  20. 26 CFR 1.857-8 - Records to be kept by a real estate investment trust.

    Science.gov (United States)

    2010-04-01

    ... 26 Internal Revenue 9 2010-04-01 2010-04-01 false Records to be kept by a real estate investment... (CONTINUED) INCOME TAX (CONTINUED) INCOME TAXES Real Estate Investment Trusts § 1.857-8 Records to be kept by a real estate investment trust. (a) In general. Under section 857(a)(2) a real estate investment...

  1. 76 FR 30396 - Deloitte Financial Advisory Services LLP, Real Estate Consulting, Houston, TX; Amended...

    Science.gov (United States)

    2011-05-25

    ... Advisory Services LLP, Real Estate Consulting, Houston, TX; Amended Certification Regarding Eligibility To... Financial Advisory Services LLP, Real Estate Consulting, Houston, Texas (subject firm). The Department's... Services LLP, Real Estate Consulting, Houston, Texas who were adversely affected by a shift in services to...

  2. Lectori Salutem : a real estate research agenda : new topics? new media?

    NARCIS (Netherlands)

    Janssen, I.I.

    2011-01-01

    Building a solid and successful research agenda within a department of Architecture, Building and Planning is a challenge for a real estate academic. Whereas an educational program in real estate must cover a broad range of disciplines – like finance, law, marketing, planning and engineering – the

  3. 26 CFR 1.857-2 - Real estate investment trust taxable income and net capital gain.

    Science.gov (United States)

    2010-04-01

    ... estate investment trust taxable income and net capital gain. (a) Real estate investment trust taxable... paid during the taxable year, and the net capital gain is excluded in computing real estate investment... 26 Internal Revenue 9 2010-04-01 2010-04-01 false Real estate investment trust taxable income and...

  4. Big Data in Real Estate? From Manual Appraisal to Automated Valuation

    NARCIS (Netherlands)

    Kok, Nils; Koponen, Eija-Leena; Martínez-Barbosa, Carmen

    2017-01-01

    Real estate is the third-largest asset class for institutional investors, but determining the value of commercial real estate assets remains elusively hard. In this article, the authors provide a practical application of big data by employing a unique set of data on U.S. multifamily assets, in

  5. Contribution to the analysis of the Czech real-estate development market

    Directory of Open Access Journals (Sweden)

    Martina Procházková

    2008-01-01

    Full Text Available Czech economy went through a substantial transformation in last two decades affecting business environments of all fields. This paper presents partial results of the Czech development market ana­ly­sis. It explains the characteristics of real-estate development, real-estate development market and the complexity of the real-estate development process, including market research, site selection (using feasibility analysis, due diligence, property acquisition, project design, obtaining entitlements, financing, construction, lease-up or sale or operation, if the project is retained as and asset.The significant growth in last decade of the analyzed market is slowing down due to current greater circumspection of banks when providing credits for new development projects, drop of real pro­per­ty prices in Western Europe and at the same time greater revenues from real properties in Eastern Europe. The inhibition of the investment in commercial real property (both what number of transactions concerns, and total volume of investment is influenced by so-called mortgage crisis on the U. S. and British real estate market. In Czech market, the factors are reflected in a number of respects.The paper suggests future steps of the intended research, focus on identification of factors affecting decision-making process when preparing real-estate development project, finding interrelationships among these factors, quantification and setting weight of the factors, creation of a decision-making process model and its test on a real case. The model should contribute to decrease waste of time and money investment in these feasibility calculations by providing a tool which helps pre-select projects with higher chance of success in earlier phase.

  6. Factors Related to the Selection of a Real Estate Agency or Agent

    OpenAIRE

    Joyce M. Johnson; Hugh O. Nourse; Ellen Day

    1988-01-01

    Real estate firms attempting to maintain or increase their market share want to know the characteristics of the firm or individual agents that are important to market participants. A survey of homeowners conducted during August 1987 found the following: 1) the individual agent is more important than the firm itself in the selection of a real estate firm; 2) knowing an agent of the firm was the primary factor considered in the selection of a real estate firm; and 3) agent characteristics of se...

  7. Global Factors that Affect the Real Estate Markets in the EU

    Directory of Open Access Journals (Sweden)

    Povilas Švogžlys

    2016-06-01

    Full Text Available The place, neighbourhood, infrastructure, and apartment plan are the main factors which have an influence on price for the buyers, sellers, investors, or brokers participating in the buying and selling processes of real estate. Participants of the process forget frequently that there are more crucial factors which can affect not only the prices of property, but the prices of real estate in the whole region as well in the future. The article uses benchmarking and discuss the main external factors which affect the real estate market in the European Union, the current events and the proposals are presented and the specific conclusions are identified.

  8. Building for a better hospital. Value-adding management & design of healthcare real estate

    Directory of Open Access Journals (Sweden)

    Johan van der Zwart

    2014-09-01

    Full Text Available Recent deregulation of laws on hospital real estate in the Netherlands implies that healthcare institutions have more opportunities to make independent accommodation choices, but at the same time have themselves become responsible for the risks associated with the investment. In addition, accommodation costs have become an integral part of the costs of healthcare. This sheds new light on the alignment between the organisation of healthcare and accommodation: care institutions themselves bear the risk of recouping their investment in real estate and high accommodation costs lead to higher rates for healthcare compared to competing institutions. In this thesis, the ideas and concepts of Corporate Real Estate Management 
(CREM are examined in terms of the contribution they could make to the process
of accommodation decision by using recent cases in Dutch hospitals. CREM can be defined as the management of the real estate portfolio of a corporation by aligning the portfolio and services with the needs of the core business in order to obtain maximum added value for the business and an optimal contribution to the overall performance of the organisation. This definition assumes that accommodation can add value to the organisation and contribute to its overall achievement. Elaborating on the added value of real estate in addition to quantifying these added values and making them applicable to hospital real estate management is therefore central to this study. The added values determine the transition between the different phases in the cycle of the initiation, design, construction and occupancy of the accommodation. In addition, the added value of real estate functions as a common language between the disciplines involved in the design and construction of hospital accommodation, such as the healthcare institution, healthcare manager, real estate manager and architect. In four sub-studies (1 Context, (2 Management, (3 Value and, (4 Design several

  9. RECENT TRENDS IN CONSTRUCTION AND RESIDENTIAL REAL ESTATE MANAGEMENT

    Directory of Open Access Journals (Sweden)

    Cheremisina T. P.

    2017-09-01

    Full Text Available The composition of the residential real estate and the structure of Russian housing market do not match: primary and secondary markets are supplemented by a considerable in size non-market sector of residential real estate - the stock of dilapidated housing and buildings in a state of emergency that is filling up the secondary market with rapidly growing volume of worn out properties. While the developmental model of entrepreneurship is gradually settling in the primary housing market, and in general the “soviet” model of management (management companies are not that different from the soviet property management agencies is remaining in the secondary market, the non-market sector requires a formulation of an adequate management model that would allow the private and public management of residential real estate at the same time. Mega-project of renovation of the 5-storey buildings in Moscow will support the formation of such a model and the legal grounds for its existence.

  10. 7 CFR 1962.8 - Liens on real estate for additional security.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 14 2010-01-01 2009-01-01 true Liens on real estate for additional security. 1962.8..., RURAL BUSINESS-COOPERATIVE SERVICE, RURAL UTILITIES SERVICE, AND FARM SERVICE AGENCY, DEPARTMENT OF... Security § 1962.8 Liens on real estate for additional security. The County Supervisor may take the best...

  11. 17 CFR 210.12-28 - Real estate and accumulated depreciation. 1

    Science.gov (United States)

    2010-04-01

    ... depreciation. 1 210.12-28 Section 210.12-28 Commodity and Securities Exchanges SECURITIES AND EXCHANGE... § 210.12-28 Real estate and accumulated depreciation. 1 [For Certain Real Estate Companies] Column A... depreciation Column G—Date of construction Column H—Date acquired Column I—Life on which depreciation in latest...

  12. Does It Matter Whom an Agent Serves? Evidence from Recent Changes in Real Estate Agency Law.

    OpenAIRE

    Curran, Christopher; Schrag, Joel

    2000-01-01

    Recent changes in real estate law hastened the shift from a seller's agency regime, in which real estate agents serve the interests of sellers, to a buyer's agency regime, in which agents serve the interests of buyers. Using data from the Atlanta real estate market, we show that the shift to buyer's agency led to a significant decline in real estate prices in the market for relatively expensive houses, while real estate prices did not significantly change in the market for relatively inexpens...

  13. RISK AND RETURN IN THE REAL ESTATE, BOND AND STOCK MARKETS

    Directory of Open Access Journals (Sweden)

    Wolski Rafał

    2017-09-01

    Full Text Available Studies investigating the relation between risk and return occupy an important place in the discussion about the effectiveness of investing in real estate. A review of the available studies shows that real estate investments are less profitable than stocks, but in terms of risk and return, are usually the best option. This worldwide regularity may not necessarily be presented in Poland, as the Polish market is not fully fledged yet. The analysis presented in this article was performed with a view to reducing a research gap resulting from the lack of comprehensive Polish studies in this field. In the article, data spanning the years from 2006 to 2016 are examined by means of descriptive statistics, measures of risk, and the analysis of variance (ANOVA to determine which of the following investment vehicles - bonds, real estate or stocks - offer the best risk-return ratio. The article has two parts. The analytical part is a review of studies on risk measurement methods and of earlier studies investigating risk and return by a class of assets (particularly real estate. In the empirical part, assets are compared with the use of statistical methods. The results of the risk-return analysis point to the money market as the best option for investors. Stocks and real estate ranked second and third, respectively.

  14. Strategic alignment of Corporate Real Estate

    NARCIS (Netherlands)

    Appel - Meulenbroek, H.A.J.A.; Brown, M.G.; Ramakers, Y

    2010-01-01

    Purpose/value: With the growing complexity of organizations, it becomes increasingly important to tune the strategies of different business functions. In order to add maximum value to the organization, real estate strategies have to be aligned with corporate strategy. The purpose of this paper is to

  15. Modelling real estate business for governance and learning

    DEFF Research Database (Denmark)

    Stubkjær, Erik

    2006-01-01

    as identified and declared areas of excellence. Within the above context, the paper refers to outcomes and experiences from the research action: Modelling Real Property Transactions (2001-2005). Among others, processes related to real estate (purchase, subdivision) were modelled and corresponding ontologies...

  16. Factors Affecting the Provision of Quality Service in Real Estate Agency in Lagos Metropolis, Nigeria

    OpenAIRE

    Funmilayo Moyinola Araloyin; OJO Olatoye

    2011-01-01

    Real estate firms attempting to increase and retain their customers need to know the factors contributing to customers¡¯ satisfaction and retention. This study investigate into real estate agency market with the purposes of identifying factors that affect quality in service provision and possible factors contributing to customers¡¯ satisfaction and retention in real estate agency. This study uses survey questionnaires to obtain information from real estate consumers. This sample size consiste...

  17. A Paradox of Town Spatial Development: The Growing Real Estate and Shrinking Town - a Case Study of Hsinchu County, Taiwan

    Science.gov (United States)

    Hung, Chi-Tung; Chuang, Mo-Hsiung; Lin, Wen-Yen

    2017-04-01

    The key factors of many discussions on shrinking towns are focusing at decreasing population and declining industries. Our study, using Hsinchu County as an example, has found that part of the county (Guanxi township) is following a typical and traditional town development pattern, while somewhere else of this county (Zhubei township) shows rapid growth in real estate but with a high vacancy rate. Even though the distance between Guanxi and Zhubei is less than 20 kilometers, the spatial development phenomenon of the two townships are both "shrinking" in the same county but very different in their developing paths. This study used GIS to overlay the maps from field survey and archive data, such as real estate prices of different years, environmental hazards and disaster records, local area power consumptions, and vulnerable population data, to clarify the causes and systems behind the shrinking phenomena of the two townships and to construct a theory of "shrinking town" in Taiwan. The contribution of this study is the findings of the tangling relations of the vulnerability from land-enclosure policy, the system design of local industrial development and urban planning, and structural factors of environmental hazards. Note: This study is part of the results from the Ministry of Science and Technology funding project (MOST 105-2621-M-120-002) KEYWORDS: shrinking town, environmental hazards, urban planning, spatial disasters, real estate development

  18. Ranking of options of real estate use by expert assessments mathematical processing

    Science.gov (United States)

    Lepikhina, O. Yu; Skachkova, M. E.; Mihaelyan, T. A.

    2018-05-01

    The article is devoted to the development of the real estate assessment concept. In conditions of multivariate using of the real estate method based on calculating, the integral indicator of each variant’s efficiency is proposed. In order to calculate weights of criteria of the efficiency expert method, Analytic hierarchy process and its mathematical support are used. The method allows fulfilling ranking of alternative types of real estate use in dependence of their efficiency. The method was applied for one of the land parcels located on Primorsky district in Saint Petersburg.

  19. HE CADASTRAL VA LUE OF REAL ESTATE — AN INDICATOR OF THE EFFICIENCY OF CITY DEVELOPMENT PROGRAMS (ON THE EXAMPLE OF MOSCOW

    Directory of Open Access Journals (Sweden)

    Belyakov Sergey Igorevich

    2015-06-01

    Full Text Available At the recent time the Moscow authority developed and im-plements a number of programs on city development aimed at raising the living comfort level of the population, advancing the urban development system, improvement of investment climate, etc. The most important role is played by the State program of Moscow “Town-Planning Policy” for 2012—2018. Different indicators are used to assess the efficiency of the programs. At the present time it is reasonable to consider all the processes connected with attraction and application of budget means of different levels, including for programs implementation, in the whole context of transition from the old taxation system where the real estate tax was calculated according to its inventory value to the new system, where the cadastral value of real estate objects is the basis for tax charge. The author considers the prerequisites and justification of the approach to territorial taxable capacity formation, which supposes application of cadastral value of real estate objects as efficiency indicator of city development programs. This indicator reflects a variety of fundamental factors characterizing an objective value of real estate objects and the development level of spatial-territorial environment as a whole.

  20. 78 FR 24227 - Notice of Proposed Information Collection; Comment Request: Real Estate Settlement Procedures Act...

    Science.gov (United States)

    2013-04-24

    ... Information Collection; Comment Request: Real Estate Settlement Procedures Act (RESPA) Disclosures AGENCY.... Description of the need for the information and proposed use: The Real Estate Settlement Procedures Act of... Act), rulemaking authority for and certain enforcement authorities with respect to the Real Estate...

  1. Real Estate and the Asian Crisis

    OpenAIRE

    Quigley, John M.

    2002-01-01

    This paper suggests that activities in the real estate markets in Southeast and East Asian economies were an important contributing force to the financial crises of 1997 in the Asian economies. The analysis relies upon unpublished data reported contemporaneously by financial institutions and market watchers to document the extent of the imbalances in the real property market that were evident to informed observers at the time of the financial collapse. The analysis argues that a series of ref...

  2. Real Estate Across the United States (REXUS) Inventory (Building)

    Data.gov (United States)

    General Services Administration — Real Estate Across the United States (REXUS) is the primary tool used by PBS to track and manage the government's real property assets and to store inventory data,...

  3. Macro-control Polices on the Real Estate Market: 08 vs. 09

    Institute of Scientific and Technical Information of China (English)

    Zhao Yan

    2009-01-01

    @@ 2008 is a year full of policy changes for the real estate market. On the one hand, real estate policies were launched one after another,most frequent in recent years. On the other hand, a major policy shift was emerging, most evident in financial and fiscal policies.Macro-control policies are meant to lunctlon as a [001 ior reverse regulation. When the market is overheated, macro policies are used to cool it down; when the market is down, they are used to stimulate its development. At present, the central government has basically confirmed its stand to help the real estate market out. If the market remains down in near future, more favorable policies will be put in place.

  4. Ways to study corporate real estate management in healthcare : An analytical framework

    NARCIS (Netherlands)

    van der Zwart, J.; van der Voordt, Theo; Arkesteijn, M.H.

    2009-01-01

    Since 2008, after 35 years of a publicly supported healthcare real estate budget system, Dutch healthcare organisations have become financially responsible for the profits and risks of their real estate investment. Furthermore the Dutch healthcare system is in transition towards a regulated market

  5. GENDER ROLE DISTRIBUTION IN RESIDENTIAL REAL ESTATE FAMILY DECISION MAKING

    Directory of Open Access Journals (Sweden)

    Irina R. KANCHEVA

    2017-12-01

    Full Text Available Purchase and consumption behavioral patterns of various family formations in different social and cultural contexts have been subject to intensive investigation over the recent years. Residential real estate as a product category represents one of the most complex household purchases incorporating a wide diversity of attributes to be considered in order to match family members’ needs within available resources. The purpose of this paper is to add some insights into spousal perceptions of gender role specialization throughout a residential real estate purchase family decision-making process. The distribution of influence between husbands and wives across three decision-making stages, three sub-decisions and twelve housing attribute choices and the relative importance of twelve residential real estate characteristics are examined using a convenience sample of both spouses in 127 Bulgarian heterosexual married and cohabiting couples.

  6. Retail and Real Estate: The Changing Landscape of Care Delivery.

    Science.gov (United States)

    Mason, Scott A

    2015-01-01

    By its nature, retail medicine is founded in real estate. That retail medicine has expanded so dramatically in a relatively short period of time has taken people by surprise. This rapid growth of integrating healthcare services into retail real estate begs the question of whether real estate will eventually take on the importance in healthcare delivery that it has in retail. This article advances the view that it will. In the end, what retail and healthcare have in common is that they both reflect the attributes of demanding consumers as part of an experience-based economy, where products and services are sought based on how they fit with their lifestyles and how they make them feel (Pine and Gilmore 1998). Changing the selection process for healthcare services to be more like retail is already expanding how and where healthcare services are delivered.

  7. 76 FR 32880 - Encouraging New Markets Tax Credit Non-Real Estate Investments

    Science.gov (United States)

    2011-06-07

    ... Encouraging New Markets Tax Credit Non-Real Estate Investments AGENCY: Internal Revenue Service (IRS... markets tax credit. Specifically, this document invites comments from the public on how the new markets tax credit program may be amended to encourage non-real estate investments. The regulations will...

  8. The Analysis of Customer Purchase Intention of Houses Using Real Estate Agent in Manado Based on Psychological Factors

    OpenAIRE

    Ticoalu, Vinny O.

    2015-01-01

    Real estate agent business field is become a trend nowadays. Real estate agent helped customers to buy or sell a house. Psychological factors has an influence in real estate agent busniess, customers mostly asked the opinion from others about the real estate agent in case they do not want to choose a wrong real estate agent. This research aims to analyze the influence of psychological factors on customers purchase intention in using real estate agent in Manado. This research used a multiple l...

  9. Real Estate Curriculum for Community Colleges.

    Science.gov (United States)

    Nelson, Robert W.

    The Oregon Department of Education has prepared this curriculum guide to assist community college personnel in developing or upgrading real estate programs. This fast-growing field has demanded that community colleges analyze the course content of such programs so that they are relevant to the actual needs of the industry. An Advisory Committee…

  10. Land grab. More investors offer hospitals cash for their real estate as providers hunt for capital.

    Science.gov (United States)

    Evans, Melanie

    2011-03-07

    More real estate investors are offering hospitals cash for real estate as providers tap into their assets for capital. But if REITs are banking on providers cashing in their real estate chips, that's not happening yet, says Mike O'Keefe, left, of Navigant Consulting. The capital flooding into healthcare real estate has met with a limited supply of sellers. "That's what's driving some of this consolidation," O'Keefe said.

  11. Uranium mill tailings remedial action project real estate management plan

    International Nuclear Information System (INIS)

    1994-09-01

    This plan summarizes the real estate requirements of the US Department of Energy's (DOE) Uranium Mill Tailings Action (UMTRA) Project, identifies the roles and responsibilities of project participants involved in real estate activities, and describes the approaches used for completing these requirements. This document is intended to serve as a practical guide for all project participants. It is intended to be consistent with all formal agreements, but if a conflict is identified, the formal agreements will take precedence

  12. Uranium mill tailings remedial action project real estate management plan

    Energy Technology Data Exchange (ETDEWEB)

    1994-09-01

    This plan summarizes the real estate requirements of the US Department of Energy`s (DOE) Uranium Mill Tailings Action (UMTRA) Project, identifies the roles and responsibilities of project participants involved in real estate activities, and describes the approaches used for completing these requirements. This document is intended to serve as a practical guide for all project participants. It is intended to be consistent with all formal agreements, but if a conflict is identified, the formal agreements will take precedence.

  13. Problems Related to the Abolition of Divided Real Estate Ownership

    Directory of Open Access Journals (Sweden)

    Dinsberga Jolanta

    2016-12-01

    Full Text Available Legal relationship between apartment owners in residential buildings and the land owners, that is, divided real estate ownership, was created in the Republic of Latvia in 1990, within the framework of the Land Reform, restoring property rights of the former owners or their heirs or privatising apartments in multi-apartment residential buildings. The existence of such legal relationship created different lease problems and restrictions on the property rights to the owners of both the building and the land. To abolish the legal relationship related to divided real estate ownership, the Ministry of Justice of the Republic of Latvia has developed a draft law Regarding the Abolition of Mandatory Divided Real Estate Ownership in Multi-Apartment Buildings (hereinafter referred to as Draft Law. Unfortunately, in the opinion of authors of this article, there are serious shortcomings to the Draft Law which must be corrected. The aim of the research is to identify the problematic issues by selecting and analysing the legislation on the abolition of the divided real estate ownership, which is related to the calculation of redemption price, payment method and consequences of non-payment, which are not regulated by the new Draft Law. The article reflects research on the determination and calculation of redemption price reglamented by the Draft Law and also analyses the Law of December 8, 1938, On the Abolition of Divided Real Estate Ownership and its practical implementation, which may significantly influence the redemption price and the method of its calculation; however, the mentioned law has been disregarded in developing the Draft Law. Thus the research has both theoretical and practical significance. For the research purposes general research methods, such as historical, analytical, inductive, deductive, logical-constructive and descriptive methods, are used. For the interpretation of legislation norms, grammatical, systemic, teleological and historical

  14. Taxation of Public Owned Land for Real Estate Reconstruction in Kiev, Ukraine

    Directory of Open Access Journals (Sweden)

    М.А. Malashevskyy

    2016-05-01

    Full Text Available Researched of plots and fences used during the reconstruction of real estate in the city Kiev and proposed taxation on public owned land for a period of reconstruction of the real estate. On the base of these calculations, demonstrate the feasibility of such a land taxation.

  15. MODELS OF AND APPROACHES TO MANAGEMENT OF REAL ESTATE DEVELOPMENT PROJECTS

    Directory of Open Access Journals (Sweden)

    Gusakova Elena Aleksandrovna

    2012-12-01

    Full Text Available The authors argue that globalization and the system-wide crisis jointly produce a strong impact onto real estate (RE development projects. As a result, intensive alterations in RE project development patterns have converted into a new trend of the present-day investment and construction industry. Therefore, alterations in the area of real estate management cause numerous problems. By virtue of this article, the authors make an attempt to provide their answer to the question whether it is possible to achieve such a sophisticated level of project management in the real estate development industry, so that project-related decisions encompassed supplementary potential opportunities in terms of social, economic and public development. Towards this end, the new concept of real estate development is proposed and the system of priorities has been developed. This concept is believed to enable all players of the construction market to make higher quality decisions at early stages of RE development projects. Besides, a lot of attention is driven to the term "potential of a construction facility", that is regarded as a set of yet unimplemented opportunities for improvements of the construction facility performance as a commercial and social vehicle.

  16. 17 CFR 210.3-15 - Special provisions as to real estate investment trusts.

    Science.gov (United States)

    2010-04-01

    ... Financial Statements § 210.3-15 Special provisions as to real estate investment trusts. (a)(1) The income... real estate investment trust under applicable provisions of the Internal Revenue Code as amended shall... 17 Commodity and Securities Exchanges 2 2010-04-01 2010-04-01 false Special provisions as to real...

  17. MODERN OPTIONS FOR THE FINANCING OF THE REAL ESTATE INVESTMENTS

    Directory of Open Access Journals (Sweden)

    Chiriac Silviu-Cornel-Virgil

    2015-07-01

    Full Text Available The investments represent one of the most important elements in the national economy development strategies, as well as in all the business fields and branches. The notion of investment is extremely complex, perceived with different meanings and significates. In a general, wider meaning the investments represent a capital placement which is made with the purpose of obtaining profit bearing incomes in the future. In a narrower meaning, investments mean the totality of expenses made for obtaining capital assets which are future potential factors in the formation of incomes. Investments represent the most important factor in the development strategies of the national economy as well as in all the business fields and branches. The investment strategy represents an important element in the management of the investments and a component of the general strategy of the entity. The use of investment strategies in the management activity implies the application of scientific techniques and methods. The great number of studies carried out shows that there were no certain answers formed, very often the option for a form of financing or the other is influenced only by the “level of accessibility” of the resources available on the financial market and the financing policy of many companies is guided rather by the constraints of the financial market than a coherent company strategy In order to ensure a constant economic growth it is necessary to prepare investment projects. In practice the predominant one is the investment activity based on real investments performed for the modernising of assets, in order to ensure their physical and moral wear and tear. The analysis of real estate investments can be made using a various range of indicators, from the traditional ones to those based on the updated cash flow, using traditional analysis techniques or complex techniques used by specialists with training in the analysis of real estate investment. The

  18. Adding Value by Hospital Real Estate: An Exploration of Dutch Practice.

    Science.gov (United States)

    van der Zwart, Johan; van der Voordt, Theo J M

    2016-01-01

    To explore how hospital real estate can add value to the healthcare organization, which values are prioritized in practice, and why. Dutch healthcare organizations are self-responsible for the costs and benefits of their accommodation. Meanwhile, a lively debate is going on about possible added values of corporate and public real estate in the fields of corporate real estate management and facility management. This article connects both worlds and compares insights from literature with experiences from practice. Added values extracted from literature have been discussed with 15 chief executive officers and project leaders of recently newly built hospitals in the Netherlands. Interviewees were asked (1) which values are included in the design and management of their hospital and why, (2) to prioritize most important values from a list of nine predefined values, and (3) to explain how the chosen real estate decisions are supposed to support organizational objectives. Stimulating innovation, user satisfaction, and improving organizational culture are most highly valued, followed by improving productivity, reducing building costs, and creating building flexibility. Image, risk control, and financing possibilities got lower rankings. The findings have been used to develop a value-impact matrix that connects nine values to various stakeholders and possible interventions. The findings and the value-impact matrix can make different stakeholders aware of many possible added values of hospital real estate, potential synergy and conflicts between different values, and how to steer on value add in different phases of the life cycle. © The Author(s) 2015.

  19. Governance structures for real estate transactions: Markets ...

    African Journals Online (AJOL)

    networks in the governance of real-estate transactions under three property rights regimes in .... empirical results of case study research exploring the relationship between .... collaboration (Entwistle, Bristow, Hines, Donaldson & Martin, 2007: 63-79). .... self-help group development (City of Windhoek, 2005). Of these,.

  20. Geoinformatic subsystem for real estate market analysis). (Polish Title: Podsystem geoinformatyczny do analizy rynku nieruchomosci)

    Science.gov (United States)

    Basista, A.

    2013-12-01

    There are many tools to manage spatial data. They called Geographic Information System (GIS), which apart from data visualization in space, let users make various spatial analysis. Thanks to them, it is possible to obtain more, essential information for real estate market analysis. Many scientific research present GIS exploitation to future mass valuation, because it is necessary to use advanced tools to manage such a huge real estates' data sets gathered for mass valuation needs. In practice, appraisers use rarely these tools for single valuation, because there are not many available GIS tools to support real estate valuation. The paper presents the functionality of geoinformatic subsystem, that is used to support real estate market analysis and real estate valuation. There are showed a detailed description of the process relied to attributes' inputting into the database and the attributes' values calculation based on the proposed definition of attributes' scales. This work presents also the algorithm of similar properties selection that was implemented within the described subsystem. The main stage of this algorithm is the calculation of the price creative indicator for each real estate, using their attributes' values. The set of properties, chosen in this way, are visualized on the map. The geoinformatic subsystem is used for the un-built real estates and living premises. Geographic Information System software was used to worked out this project. The basic functionality of gvSIG software (open source software) was extended and some extra functions were added to support real estate market analysis.

  1. Research on the optimization of quota design in real estate

    Science.gov (United States)

    Sun, Chunling; Ma, Susu; Zhong, Weichao

    2017-11-01

    Quota design is one of the effective methods of cost control in real estate development project and widely used in the current real estate development project to control the engineering construction cost, but quota design have many deficiencies in design process. For this purpose, this paper put forward a method to achieve investment control of real estate development project, which combine quota design and value engineering(VE) at the stage of design. Specifically, it’s an optimizing for the structure of quota design. At first, determine the design limits by investment estimate value, then using VE to carry on initial allocation of design limits and gain the functional target cost, finally, consider the whole life cycle cost (LCC) and operational problem in practical application to finish complex correction for the functional target cost. The improved process can control the project cost more effectively. It not only can control investment in a certain range, but also make the project realize maximum value within investment.

  2. 32 CFR 644.8 - Planning and scheduling real estate activities.

    Science.gov (United States)

    2010-07-01

    ... (CONTINUED) REAL PROPERTY REAL ESTATE HANDBOOK Project Planning Civil Works § 644.8 Planning and scheduling... of sound judgment, actual hardship is found to exist. (iii) Individual tract ownerships recommended...

  3. Real Estate Investment as a Panacea for Economic Instability in Nigeria: Evidence from Northeastern States of Nigeria

    Directory of Open Access Journals (Sweden)

    Muhammad Umar Bello

    2017-08-01

    Full Text Available Real estate investment is an emerging business in many countries of the world. Real estate investment was thoroughly investigated to come up with solution faced by the transaction of land and building. Real estate investment is strictly related to the housing price. It has been pointed out by many researchers that the housing price is affected by many factors, such as interest rate, land supply, government policies and inflation rate. The research highlighted most important aspects of the outcomes. An increase in international real estate capital flows could foster increasing demand for stronger institutions across a global real estate market. The method adopted in this research was quantitative through which 100 questionnaires were developed and distributed within the study area (Bauchi, Gombe, Adamawa and Yobe States. The simple percentage was used to analyzed the data collected. The research is exploratory in nature; hence, a non-probability purposive sampling technique was used for the study. The finding of the research vindicated that real estate investment has a significant role in sharpening the economy of the region, and also the findings revealed that real estate investment opportunity is huge. And again for suggested that housing provision cannot be realized only by private individual excerpts through government intervention. The study concludes that real estate investment, if explore it will create a reliable return to the investment owners, the benefits that can be derived from real estate investment, has been revealed by this study. The study also highlighted that private developers are key important for real estate investment in Nigeria. The conclusion drawn by this research shows that real estate investment has a capacity of transforming economic hardship in the country.

  4. 14 CFR 1204.501 - Delegation of authority-to take actions in real estate and related matters.

    Science.gov (United States)

    2010-01-01

    ... real estate and related matters. 1204.501 Section 1204.501 Aeronautics and Space NATIONAL AERONAUTICS... Delegation of authority—to take actions in real estate and related matters. (a) Delegation of authority. The... conditions imposed by immediate superiors, to: (1) Prescribe agency real estate policies, procedures, and...

  5. 75 FR 31334 - Real Estate Settlement Procedures Act (RESPA): Strengthening and Clarifying RESPA's “Required Use...

    Science.gov (United States)

    2010-06-03

    ...-A178 Real Estate Settlement Procedures Act (RESPA): Strengthening and Clarifying RESPA's ``Required Use... by those in a position to refer settlement business (such as builders, real estate agents, and... referral fees, kickbacks, and unearned fees for real estate settlement services.\\1\\ \\1\\ In July 2008...

  6. Jump point detection for real estate investment success

    Science.gov (United States)

    Hui, Eddie C. M.; Yu, Carisa K. W.; Ip, Wai-Cheung

    2010-03-01

    In the literature, studies on real estate market were mainly concentrating on the relation between property price and some key factors. The trend of the real estate market is a major concern. It is believed that changes in trend are signified by some jump points in the property price series. Identifying such jump points reveals important findings that enable policy-makers to look forward. However, not all jump points are observable from the plot of the series. This paper looks into the trend and introduces a new approach to the framework for real estate investment success. The main purpose of this paper is to detect jump points in the time series of some housing price indices and stock price index in Hong Kong by applying the wavelet analysis. The detected jump points reflect to some significant political issues and economic collapse. Moreover, the relations among properties of different classes and between stocks and properties are examined. It can be shown from the empirical result that a lead-lag effect happened between the prices of large-size property and those of small/medium-size property. However, there is no apparent relation or consistent lead in terms of change point measure between property price and stock price. This may be due to the fact that globalization effect has more impact on the stock price than the property price.

  7. Directing sustainable investments in commercial real estate

    NARCIS (Netherlands)

    Entrop, A.G.; Brouwers, H.J.H.; Braganca, L.; Pinheiro, M.; Jalali, S.; Mateus, R.; Amoeda, R.; Guedes, Correia M.

    2007-01-01

    This paper focuses on the facility costs, energy use and water consumption of commercial real estate. A framework consisting of four components is established in which the performances on these three aspects are analysed. By using the first, second and third part of the framework suggestions for

  8. Students’ Preferences On The Residential Real Estate Market In Polish Cities

    Directory of Open Access Journals (Sweden)

    Kempa Olgierd

    2015-03-01

    Full Text Available The understanding of price-setting attributes operating on local real estate market is not only an essential element of property appraisers’ work, it can also greatly assist the professional activities of real estate agents. However, its primary importance is for the market – facilitating the decision-making processes of developers (developers become aware of the buyers’ expectations and preferences, making it possible to more accurately form market offers and pricing strategy.

  9. Categorical data processing for real estate objects valuation using statistical analysis

    Science.gov (United States)

    Parygin, D. S.; Malikov, V. P.; Golubev, A. V.; Sadovnikova, N. P.; Petrova, T. M.; Finogeev, A. G.

    2018-05-01

    Theoretical and practical approaches to the use of statistical methods for studying various properties of infrastructure objects are analyzed in the paper. Methods of forecasting the value of objects are considered. A method for coding categorical variables describing properties of real estate objects is proposed. The analysis of the results of modeling the price of real estate objects using regression analysis and an algorithm based on a comparative approach is carried out.

  10. Use of Multicriteria Valuation of Spatial Units in a System of Mass Real Estate Valuation

    Directory of Open Access Journals (Sweden)

    Miroslav Kuburić

    2012-05-01

    Full Text Available A model of mass valuation at the national level must be functional, practically applicable, consistent and adaptable to actual conditions and real estate market trends. A consideration of the influence of location on real estate value in a spatial unit, and a description of spatial units with a sufficient number of attributes to determine a connection between the value of these attributes and the average price of real estate in a spatial unit, are important tasks in modelling a system of mass real estate valuation. This paper, based on a test implementation of mass real estate valuation for an area covering a number of municipalities in the Republic of Serbia, offers conclusions on the suitability of the use of a mass valuation method grounded in the principles of logical aggregation and case based reasoning. The values of location characteristics, or factors of spatial unit valuation, were determined in spatial analyses employing GIS, according to an established system of multicriteria valuation. This approach ensures that a model-defined value is not stored as offline data, but that each time such data is needed, it can be determined following the proposed methodology, based on actual, updated data from the databases of official spatial data registries. Prior to this, it is necessary to meet all the required prerequisites, which include the distributed databases of official real estate data registries and other factors needed in the mass valuation procedure. Keywords: real estate valuation; spatial units; multicriteria analysis

  11. The global financial crisis: Is there any contagion between real estate and equity markets?

    Science.gov (United States)

    Hui, Eddie Chi-man; Chan, Ka Kwan Kevin

    2014-07-01

    This study examines contagion across equity and securitized real estate markets of Hong Kong, US and UK during the global financial crisis by the Forbes-Rigobon, coskewness and cokurtosis tests. In particular, this is the first study to use the cokurtosis test to examine contagion between real estate and equity markets. The results show that the cokurtosis test can detect additional channels of contagion, and hence is a more powerful test. In contrary to Fry et al. (2010), we find that the cokurtosis test shows a highly significant evidence of contagion between the equity and real estate markets in both directions. In particular, the contagion between US's equity and real estate markets is the most significant. This reflects that US is the centre of shock of the global financial crisis.

  12. 78 FR 2483 - Ohio Terminal Railway Company-Operation Exemption-Hannibal Real Estate, LLC

    Science.gov (United States)

    2013-01-11

    ... Railway Company--Operation Exemption--Hannibal Real Estate, LLC Ohio Terminal Railway Company (OTRC),\\1\\ a... near Hannibal, in Monroe County, Ohio (the Line), pursuant to an operating agreement with Hannibal Real Estate, LLC (Hannibal). \\1\\ OTRC is a wholly owned, corporate subsidiary of Carload Express, Inc. (CEI...

  13. Risk-neutral valuation of real estate derivatives

    NARCIS (Netherlands)

    van Bragt, D.; Francke, M.K.; Singor, S.N.; Pelsser, A.

    2015-01-01

    Despite the importance of residential real estate as both an asset class for investors and as a source of "housing services" for individual home owners, as well as the relatively high volatility in house prices, markets for derivative instruments to hedge these risks have been slow to develop. The

  14. 41 CFR 102-72.30 - What are the different types of delegations related to real estate leasing?

    Science.gov (United States)

    2010-07-01

    ... types of delegations related to real estate leasing? 102-72.30 Section 102-72.30 Public Contracts and... REGULATION REAL PROPERTY 72-DELEGATION OF AUTHORITY Delegation of Authority § 102-72.30 What are the different types of delegations related to real estate leasing? Delegations related to real estate leasing...

  15. 76 FR 39341 - Encouraging New Markets Tax Credit Non-Real Estate Investments; Correction

    Science.gov (United States)

    2011-07-06

    ... DEPARTMENT OF THE TREASURY Internal Revenue Service 26 CFR Part 1 [REG-114206-11] RIN 1545-BK21 Encouraging New Markets Tax Credit Non-Real Estate Investments; Correction AGENCY: Internal Revenue Service... how the new markets tax credit program may be amended to encourage non-real estate investments. FOR...

  16. The Curriculum Improvement Project in Business Careers Programs: Business Manager, Officer Administrator, Real Estate Agent, Real Estate Broker.

    Science.gov (United States)

    College of the Mainland, Texas City, TX.

    In 1987, the College of the Mainland undertook a project to update curricula in real estate, business management, and office technology. The project entailed a survey of the labor market to clarify personnel needs in selected fields; the use of the DACUM (Developing a Curriculum) process, which involved expert workers in the creation of task…

  17. INTERDEPENDENCE OF COST AND QUALITY OF ITEMS OF REAL ESTATE

    Directory of Open Access Journals (Sweden)

    Lukmanova Inessa Galeevna

    2012-10-01

    Calculation of reduction of the overall cost of the real estate item that has improved quality indicators in comparison with the overall cost of the real estate item of satisfactory quality, taken as a benchmark, is made. The nature of interrelation between the quality of building works and maintenance expenses is provided. The overall cost of the item increases alongside with the increase of its quality, therefore the pre-set quality indicator should be defined by taking account of the market conditions, rates charged for building works and payable by buyers, and the amount of building works that sell at a higher price. The indicator of the overall cost of the item of real estate, if forthcoming operational expenses are taken into account, i.e. calculated for the course of the overall life cycle of the item, is essential if the investor is going to maintain the building. Investors often act as sellers of completed buildings; therefore, the product price set at the time when it is offered for sale is of particular importance.

  18. A method for strategic technical life cycle management of real estates

    OpenAIRE

    Koskelo, Taina

    2005-01-01

    This research study focuses on the strategic technical life cycle management (TLCM) of real estate. In the early phases of the study it became clear that very often the performance of TLCM was not perceived as satisfactory: there were problems in the purchasing and provision of technical services, TLCM was not performed according to real estate specific needs and objective-setting for building characteristics did not serve cost-effective ownership. The study focuses on four research quest...

  19. Organising the unorganised: Role of platform intermediaries in the Indian real estate market

    Directory of Open Access Journals (Sweden)

    R. Srinivasan

    2017-03-01

    Full Text Available A large component of the Indian economy is still in the unorganised (or informal sector. The emergence of new intermediaries leveraging the Internet has contributed significantly to organising the hitherto unorganised sector. We discuss the case of the Indian real estate industry and elucidate how Internet-based intermediaries have mitigated the problems associated with the unorganised nature of the industry. The three primary problems associated with the unorganised nature of the industry are adverse selection, moral hazard, and weak contract enforcement. Leaders representing four leading real estate platforms discuss how organising the real estate business as a platform business model helps mitigate these risks.

  20. Strategy of Commercial Real Estate Market Development and Interests of the Region: Rostov Region

    Directory of Open Access Journals (Sweden)

    Kosarev Roman, V.

    2016-07-01

    Full Text Available The author discusses the features of the development of commercial real estate market in the Rostov region on the assumption of a relationship between the vector of entrepreneurial activity and the dynamics of supply and demand of real estate in the context of the public interest. The urgency of the problem is due to the institutional nature of commercial real estate in business development, which is neglected in the practice of public exposure due to lack of methodological support and instrumentality. Based on the self-organization of these dynamic models related economic systems in the economy of the region, a logical assessment of the trends of development of business in the consumer market in the context of the real estate needs as infrastructure is given. It allows to identify the main patterns of development and its specific regional features. Statistical evaluation of the cost of renting and buying commercial real estate in Rostov-on-Don city has helped to identify new strategies for business development, requiring the transformation of commercial property types, proposed in the framework of regional program with a focus on five trends of Global Power of Retailing 2015.

  1. Analysis of China's real estate prices and macroeconomy based on evolutionary co-spectral method

    Directory of Open Access Journals (Sweden)

    Juan Li

    2015-04-01

    Full Text Available Purpose: This paper investigates the dynamic interaction between the real estate market and the macroeconomic environment of China by use of dynamic coherence function based on co-spectral analysis. Design/methodology/approach: Through a theoretical perspective, the dynamic interrelationship among economic variables at different time intervals (both long and short terms is analyzed. Findings: The empirical results show that China’s real estate market features a high coherence with the change of the long-term interest rate, employment rate and money supply, while there is a moderate coherence between the real estate market and the inflation rate and economic growth rate, and the coherence between the short-term rate of interest and the real estate market is the lowest. Research implications: Previous researches have some shortcomings. They do not consider the dependence between nonlinear series, but the latter is crucial to avoid the deviation of results. In this paper, we proposed a new method of experience to overcome these shortcomings. Originality/value: The paper provides a reasonable explanation accordingly to different coherences between the real estate market and the macroeconomic variables.

  2. 7 CFR 765.401 - Conditions for transfer of real estate and chattel security.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 7 2010-01-01 2010-01-01 false Conditions for transfer of real estate and chattel security. 765.401 Section 765.401 Agriculture Regulations of the Department of Agriculture (Continued) FARM... Security and Assumption of Debt § 765.401 Conditions for transfer of real estate and chattel security. (a...

  3. A preliminary framework for corporate real estate sustainable management

    Directory of Open Access Journals (Sweden)

    Fauzi Nurul Sahida

    2016-01-01

    Full Text Available The global warming issue has motivated corporations to go green in their business operations including transforming from conventional real estate to green features real estate. However green CRE is more complex to manage due to a building’s significant impact on environmental, social and economic aspects. Thus the need to have a best practice guide or framework as reference is crucial. Unfortunately, no best practice guidelines on CRE management have been found to be sufficient as much uncertainty still exists on the sustainable performance measurement components. This research aims to explore and then summarize the present sustainable CREM practices and components relating to sustainable performance measurement integrating a sustainable theory that balances environmental, economic and social impacts. These act as indicators to measure the outcomes of the practice in the form of a generic model on sustainability preliminary framework for CRESM. The objectives of this research include identifying corporate real estate sustainable management (CRESM practice and components of sustainable performance measurement. The research uses content analysis method to analyse data gathered from literature and previous studies. The findings will be demonstrated in the form of a framework model on CRESM that will include14 CREM strategies and 15 components derived from analysis.

  4. Impact of systemic risk in the real estate sector on banking return.

    Science.gov (United States)

    Li, Shouwei; Pan, Qing; He, Jianmin

    2016-01-01

    In this paper, we measure systemic risk in the real estate sector based on contingent claims analysis, and then investigate its impact on banking return. Based on the data in China, we find that systemic risk in the real estate sector has a negative effect on banking return, but this effect is temporary; banking risk aversion and implicit interest expense have considerable impact on banking return.

  5. Determinants of Funds Demand and Supply; Deepening Finance Access of Real Estate Investment in China

    Directory of Open Access Journals (Sweden)

    Lkhagvasuren Togtokhbuyan

    2012-11-01

    Full Text Available This huge gap between financing needs and the available financing capacity represents major constraints to growth opportunities in business financing, and accords with one of requirements strategy of stimulating real sector financing by mobilizing cheap long term saving. Real estate investment is a capital intensive venture and this implies that firms venturing into this sector need to have a strong capital structure to sustain development. There is high competition amongst the real developers in quest for funds from formal and informal sources to meet their financial needs. Many real Estate firms are experiencing a credit fix. In the recent move by the Peoples Bank of China to clamp down lending in the real estate sector; the People’s bank of China tightened monetary policy by raising interest rates which in effect lead to increased cost of capital. The central government has also encouraged banks to adopt slow lending to real estate projects. According to the People's Bank of China (PBOC, the increase in cumulative loans related to housing projects totaled ¥1.3 trillion ($198 billion in 2011, down 38 percent from 2010, and new loans to the property sector comprised 17.5 percent of total loans in 2011, down from 27 percent in 2010.The remaining prudent alternative is innovation for exploitation of other means of acquiring funds for real estate venture. Real estate investors need to deepen and broaden their options of financing their activities to avoid credit squeeze.

  6. THE REAL ESTATE MARKET IN ROMANIA IN THE MARKET APPROACH

    Directory of Open Access Journals (Sweden)

    Cristina Mihaela Onica

    2015-05-01

    Full Text Available A real estate market is a group of companies or people that are in contact, aimed at conducting real estate transactions. The market participants may be represented by buyers, sellers, tenants, owners, debtors and creditors, entrepreneurs, managers, investors and intermediaries. The concepts of anticipation and change, with the principles of supply and demand, substitution, balance and external conditions are extremely important in the market approach. An appraiser takes into account all these principles and simulateneously tries to consider all relevant conditions for the problem appraisal, so that they could reflect reality and the local market conditions.

  7. Energy-information dissemination into the real-estate industry. Draft final report

    Energy Technology Data Exchange (ETDEWEB)

    Isakson, H.R.

    1979-06-01

    A description is presented of a set of nine slide/tape programs and two sets of overhead transparencies that were developed to accompany earlier designed curriculum for real estate professionals. The present project includes the development of standardized implementation procedures for use by energy extension service offices and an instructor's manual designed to integrate use of the slide/tape programs and overhead transparencies with the textbook, Making the Most of Energy in Real Estate, which was developed earlier. (MCW)

  8. Impact of real estate interventions on organisational performance

    NARCIS (Netherlands)

    de Vries, JC; de Jonge, H.; van der Voordt, Theo

    2008-01-01

    Background: Real estate is increasingly used as a source of improving the performance of organisations by an improved image, cost reductions, increased employee satisfaction and increased labour productivity. A clear conceptual framework and standardised Key Performance Indicators (KPIs) are needed

  9. Success and fail factors in sustainable real estate renovation projects

    NARCIS (Netherlands)

    Volker, L.

    2011-01-01

    Sustainability remains an important issue for the construction industry. Yet, sustainable real estate developments are still considered as highly ambitious projects. To find out how and why sustainable renovation projects actually became sustainable we systematically evaluated 21 leading Dutch real

  10. Dynamic Relationships between Price and Net Asset Value for Asian Real Estate Stocks

    Directory of Open Access Journals (Sweden)

    Kim Hiang LIOW

    2018-03-01

    Full Text Available This paper examines short- and long-term behavior of the price-to net asset value ratio in six Asian public real estate markets. We find mean-reverting behavior of the ratio and spillover effects, where each of the examined public real estate markets correlates with other markets. Additionally, the unexpected shock correlating with the price-to-net asset value ratio in one market has a positive or negative correlation with the ratios of other markets. Our results offer fresh insights to portfolio managers, policymakers, and academic researchers into the regional and country market dynamics of public real estate valuation and cross-country interaction from the long-term and short-term perspectives.

  11. Managerial competences as a strategic element in the decision-making of Real Estate Development

    Directory of Open Access Journals (Sweden)

    Alberto Fecchio

    2012-04-01

    Full Text Available A real estate plan works when is a part of a wider project which regards the society needs in a certain place. To know where to invest and the risk/performance profile, it is necessary to know the profit and loss profile of the building in the future, in addition to building costs. A correct real estate valuation does not exist if upstream a deep knowledge of real estate, financial, statistical, investors’ psychology (science or knowledge cycles, as well as an experience of years do not exist, which allows to acquire sensibility even towards unpredictable events. The dynamic real estate management is the necessary tool to increase the recurring revenue, the capital gain, to improve cash, decrease risks. The real estate manager, consisting in a team with integrated skills, with “on field” experience, with business logical knowledge, with roots on territory, able to share the business risk, with knowledge of public administrations’ procedures and complexity, is able to support the real estate investor in the development procedure. The evolution of the decision process must follow the trend that since 2009 has seen the overcoming of redevelopment projects compared to new building projects, with higher costs and complexity, but more sustainable from the environmental and space rationalization point of view. Redevelopment processes will be framed in complex territorial development projects, with guarantees of transparency of administrative processes and times, in order to attract international funds, that today are prevented to operate due to great uncertainty of the administrative process management in Italy.

  12. Corporate real estate strategies for future higher education

    NARCIS (Netherlands)

    Ronald Beckers; Driessen Jasper

    2017-01-01

    Purpose – This paper aims to explore the alignment of Corporate Real Estate (CRE) strategies of Dutch Universities of Applied Sciences (UAS) with the developments in higher education. Methodology/approach – The paper first illustrates the key developments in higher education learning and

  13. Neural Networks Modelling of Municipal Real Estate Market Rent Rates

    Directory of Open Access Journals (Sweden)

    Muczyński Andrzej

    2016-12-01

    Full Text Available This paper presents the results of research on the application of neural networks modelling of municipal real estate market rent rates. The test procedure was based on selected networks trained on the local real estate market data and transformation of the detected dependencies – through established models – to estimate the potential market rent rates of municipal premises. On this basis, the assessment of the adequacy of the actual market rent rates of municipal properties was made. Empirical research was conducted on the local real estate market of the city of Olsztyn in Poland. In order to describe the phenomenon of market rent rates formation an unidirectional three-layer network and a network of radial base was selected. Analyses showed a relatively low degree of convergence of the actual municipal rent rents with potential market rent rates. This degree was strongly varied depending on the type of business ran on the property and its’ social and economic impact. The applied research methodology and the obtained results can be used in order to rationalize municipal property management, including the activation of rental policy.

  14. Methods of selecting factors in the analysis of the real estates market

    OpenAIRE

    Jasińska, Elżbieta; Preweda, Edward

    2006-01-01

    In the paper the problem of selecting the method of choosing factors in factorial analysis is presented. For the database of 61 real estates the process of singling out the factors was carried out with the use of all the methods proposed in the STATISTICA 6.0 pack. A particular attention was paid on the number of differentiated factors and the efficiency of subsequent methods for the analysis of the real estates market. Edward Preweda

  15. The Application of Japanese Candlestick Charting on the Residential Real Estate Market

    Directory of Open Access Journals (Sweden)

    Gdakowicz Anna

    2015-02-01

    Full Text Available The real estate market is regarded as a part of the capital market. Just as they invest in securities, investors allocate their funds in real estate, hoping to make a sound profit. There are many tools that support the process of investing on the stock exchange, such as a technical analysis. There are also proven methods that help predict future prices of assets on the basis of their historic quotations.

  16. 12 CFR 560.101 - Real estate lending standards.

    Science.gov (United States)

    2010-01-01

    ..., and reporting requirements to monitor compliance with the savings association's real estate lending... institutions' business plans and, when undertaken in a prudent manner, will not be subject to examiner... policies and strategic plan. Factors that should be considered include: • The size and financial condition...

  17. Identifying Selected Behavioral Determinants of Risk and Uncertainty on the Real Estate Market

    Directory of Open Access Journals (Sweden)

    Brzezicka Justyna

    2014-07-01

    Full Text Available Various market behaviors can be characterized as risky or uncertain, thus their observation is important to the real estate market system. The extensive use of behavioral factors facilitates their implementation and studies in relation to the real estate market system. The behavioral approach has established its own instrumentation which enables elements of risk and uncertainty to be quantified.

  18. RUSSIAN AND FOREIGN PRACTICE OF VALUATING MUNICIPAL REAL ESTATE

    Directory of Open Access Journals (Sweden)

    Oleg V. Likhomanov

    2017-09-01

    Full Text Available The authors analyze the real estate tax system of England, France, Germany, the USA, Canada, Sweden, Denmark, Holland, Spain, Portugal, Poland, Chile, Singapore, the Philippines, and Japan. The following activities are proposed with the aim of creating an effective system of municipal real estate management and improving the quality of local government: to organize the smooth functioning of full and timely accounting of the municipal real estate, the introduction of an automated registry system, including legal, technical, and economic components of records; to develop scientifically based optimal management solutions on the disposal of municipal property, in compliance with the balance of fiscal, investment and socially-oriented objectives in the course of operational management, transfer in use or trust, disposition, use as the authorized capital; to develop the optimal solutions for selecting strategies for achieving maximum economic efficiency and increasing investment attractiveness of municipal property; to exercise effective control over regulatory use of municipal property (especially land resources for its intended purpose; to organize work on reliable cadastral valuation of the property; to provide the state budget institutions for cadastral valuation established in the regions with qualified personnel from among the practicing independent appraisers; to engage independent appraisers for analysis and monitoring of real estate market with the aim of identifying pricing factors and ensuring reliable results, compliant with relevant market data; to completely eliminate the possibility of pressure by officials of local self-government bodies at the state budget institutions for the cadastral valuation to establish the desired orientations of the cadastral value. The authors propose to initiate the introduction of uniform date of establishment of the cadastral value on the territory of the Russian Federation with the aim of providing a

  19. Building healthy communities: establishing health and wellness metrics for use within the real estate industry.

    Science.gov (United States)

    Trowbridge, Matthew J; Pickell, Sarah Gauche; Pyke, Christopher R; Jutte, Douglas P

    2014-11-01

    It is increasingly well recognized that the design and operation of the communities in which people live, work, learn, and play significantly influence their health. However, within the real estate industry, the health impacts of transportation, community development, and other construction projects, both positive and negative, continue to operate largely as economic externalities: unmeasured, unregulated, and for the most part unconsidered. This lack of transparency limits communities' ability to efficiently advocate for real estate investment that best promotes their health and well-being. It also limits market incentives for innovation within the real estate industry by making it more difficult for developers that successfully target health behaviors and outcomes in their projects to differentiate themselves competitively. In this article we outline the need for actionable, community-relevant, practical, and valuable metrics jointly developed by the health care and real estate sectors to better evaluate and optimize the "performance" of real estate development projects from a population health perspective. Potential templates for implementation, including the successful introduction of sustainability metrics by the green building movement, and preliminary data from selected case-study projects are also discussed. Project HOPE—The People-to-People Health Foundation, Inc.

  20. 32 CFR 644.23 - Real Estate Planning Documents.

    Science.gov (United States)

    2010-07-01

    ... PROPERTY REAL ESTATE HANDBOOK Project Planning Military (army and Air Force) and Other Federal Agencies... of any peculiar or unusual problems anticipated in connection with the proposed acquisition including... property for U.S. Army Reserve and Army National Guard use by transfer from another military department or...

  1. Pricing and simulation for real estate index options: Radial basis point interpolation

    Science.gov (United States)

    Gong, Pu; Zou, Dong; Wang, Jiayue

    2018-06-01

    This study employs the meshfree radial basis point interpolation (RBPI) for pricing real estate derivatives contingent on real estate index. This method combines radial and polynomial basis functions, which can guarantee the interpolation scheme with Kronecker property and effectively improve accuracy. An exponential change of variables, a mesh refinement algorithm and the Richardson extrapolation are employed in this study to implement the RBPI. Numerical results are presented to examine the computational efficiency and accuracy of our method.

  2. Competency Based Curriculum for Real Estate Agent.

    Science.gov (United States)

    McCloy, Robert J.

    This publication is a curriculum and teaching guide for preparing real estate agents in the state of West Virginia. The guide contains 30 units, or lessons. Each lesson is designed to cover three to five hours of instruction time. Competencies provided for each lesson are stated in terms of what the student should be able to do as a result of the…

  3. Corporate real estate alignment strategies in dutch higher education

    NARCIS (Netherlands)

    Theo van der Voordt; Ronald Beckers

    2014-01-01

    This paper aims to explore the management approaches concerned with the process of aligning Corporate Real Estate (CRE) with organizational goals on a strategic level and regarding day-to-day operating activities in higher education institutes.

  4. The application of dynamic micro-simulation model of urban planning based on multi-agent system

    Science.gov (United States)

    Xu, J.; Shiming, W.

    2012-12-01

    The dynamic micro-simulation model of urban planning based on multi-agent, is mainly used to measure and predict the impact of the policy on urban land use, employment opportunities and the price of real estate. The representation of the supply and characteristics of land and of real estate development, at a spatial scale. The use of real estate markets as a central organizing focus, with consumer choices and supplier choices explicitly represented, as well as the resulting effects on real estate prices. The relationship of agents to real estate tied to specific locations provided a clean accounting of space and its use. Finally, it will produce a map composited with the dynamic demographic distribution and the dynamic employment transfer by the geographic spatial data. With the data produced by the urban micro-simulation model, it can provide the favorable forecast reference for the scientific urban land use.

  5. Time-varying correlations in global real estate markets: A multivariate GARCH with spatial effects approach

    Science.gov (United States)

    Gu, Huaying; Liu, Zhixue; Weng, Yingliang

    2017-04-01

    The present study applies the multivariate generalized autoregressive conditional heteroscedasticity (MGARCH) with spatial effects approach for the analysis of the time-varying conditional correlations and contagion effects among global real estate markets. A distinguishing feature of the proposed model is that it can simultaneously capture the spatial interactions and the dynamic conditional correlations compared with the traditional MGARCH models. Results reveal that the estimated dynamic conditional correlations have exhibited significant increases during the global financial crisis from 2007 to 2009, thereby suggesting contagion effects among global real estate markets. The analysis further indicates that the returns of the regional real estate markets that are in close geographic and economic proximities exhibit strong co-movement. In addition, evidence of significantly positive leverage effects in global real estate markets is also determined. The findings have significant implications on global portfolio diversification opportunities and risk management practices.

  6. Real Estate Investment Trusts And Fundamentals of Real Estate Investments : A Case of Turkey(Gayrimenkul Yatırım Ortaklıkları ve Gayrimenkul Yatırımlarının Temelleri: Türkiye Örneği)

    OpenAIRE

    G. Cenk AKKAYA; Nilgün Kutay; Mine Tükenmez

    2005-01-01

    A real estate investment trust (REIT) is a corporation or a business trust that combines the capital of many investors to acquire (or provide financing for) various real estate assets. Investors get a share of the earnings, depreciation, etc. from the portfolio of real estate holdings that the REIT owns. REITs were created to provide investors with the opportunity to participate in the benefits of ownership of larger-scale commercial real estate or mortgage lending. Finally, REITs is that the...

  7. Physician alignment strategies and real estate.

    Science.gov (United States)

    Czerniak, Thomas A

    2012-06-01

    When addressing locations of facilities after acquiring physician practices, hospitals should: Acknowledge the hospital's ambulatory plan is the driver rather than real estate assumed with the physician practices, Review the hospital ambulatory service plan for each submarket, Review the location of facilities within the service area and their proximity to one another, Sublease or sell existing facilities that are not appropriate, Ensure that the size and characteristics of each facility in the market are appropriate and consistent with the hospital's image.

  8. Real Estate Course Outlines--Principles, Appraisal, Finance, Law, Math, Property Management, Investments, Marketing, Brokerage.

    Science.gov (United States)

    Lyon, Robert

    This series of course outlines was developed by the Texas Real Estate Research Center to help instructors in developing courses in compliance with the Texas Real Estate License Act Section 7(a). The outlines are general in nature and designed to serve as the basis for the development of a comprehensive course outline based on the texts and…

  9. The appraisal rationalisation of real estate expertise

    Directory of Open Access Journals (Sweden)

    Marina Ciuna

    2013-12-01

    Full Text Available The Italian appraisal practice is characterized by valuations developed in subjective opinions formulated by the valuers, according to the experience and the competence rather than on the survey of the market data of comparable properties. This practice makes up for the lack of information on the real estate market and to the consequent absence of systematic collections of market data. This tradition is in the cadastral appraisal for the rural (1886 and urban properties (1939. The assessed income is appraised for a representative property and wide to all the other properties with arbitrary scores (pure number. The assessed value is derived from the income with fixed multipliers. The reform of the cadastral appraisals (2013 provides the employment of predetermined statistic functions rather than the automated valuation models applied in the mass appraisal. There are therefore ample spaces to rationalize the Italian valuations. For the market appraisal the process of rationalization is based on the comparison between the expertise and the market comparison approach. For the cadastral appraisal the process of rationalization is based on the statistic application to the fixed functions with the survey of a sample of market prices and the ratios study according to the valuation standards.

  10. Commercial real estate development and valuation in the Netherlands

    NARCIS (Netherlands)

    Schoenmaker, Dennis Albert Jan

    2016-01-01

    In the past three decades, financial deregulation, or the process of removing governmental rules controlling the way that financial organizations operate, has facilitated interconnections between commercial real estate markets, the financial sector and national economic markets. As a result,

  11. A Vision for ARES in the Twenty-First Century: The Virtual Community of Real Estate Thought Leaders

    OpenAIRE

    Stephen E. Roulac

    1996-01-01

    In the twenty-first century the American Real Estate Society (ARES) is a virtual community of real estate thought leaders, electronically interconnected and linked through the International Real Estate Society to counterpart organizations on all major continents as well as numerous country-specific societies. ARES growth is attributable to its emphasis on rigorous applied microeconomic decisionmaking and an inclusive, open style. The initiatives of the Strategic Planning Task Force, whose rep...

  12. The Impact of Staging Olympic Games on Real Estate Price in Beijing

    OpenAIRE

    Tang Xuebing; Yao Yongling

    2012-01-01

    The price of the real estate in many cities of China has been rising up rapidly since a couple of years ago. Particularly, the increasing period is coinciding with the period of economic rising in Beijing. Therefore, many people thank that the higher price is mostly made by holding Olympic Game in 2008. In order to separate Olympic factor and non-Olympic factors, which were supposed to impact the price of real estate in Beijing, Differences-in-Differences (DD) method will be adopted in this p...

  13. An Analysis of Discrimination by Real Estate Brokers.

    Science.gov (United States)

    Yinger, John

    This paper focuses on designing policies to eliminate discrimination in the sale of single-family houses by analyzing the behavior of the agents who actually do most of the discriminating, namely real estate agents. Discriminatory practices are said to be supported by policies of house builders, lending institutions, and government, and by the…

  14. Essays on local housing and real estate brokerage markets.:Essays on local housing and real estate brokerage markets.

    OpenAIRE

    Helgers, Roel

    2016-01-01

    As noted by the late housing economist John Quigley (1979), housing markets are characterized by a peculiar combination of features, such as durability, spatial fixity and multidimensional heterogeneity. The combination of these features differentiate it from other product markets and it has been shown that they have a non-negligible impact upon market outcomes in housing and real estate brokerage markets. The inherent spatial fixation and the multidimensional heterogeneity of housing units, ...

  15. 26 CFR 55.4981-2 - Imposition of excise tax with respect to certain undistributed income of real estate investment...

    Science.gov (United States)

    2010-04-01

    ... certain undistributed income of real estate investment trusts; calendar years beginning after December 31... (CONTINUED) MISCELLANEOUS EXCISE TAXES (CONTINUED) EXCISE TAX ON REAL ESTATE INVESTMENT TRUSTS AND REGULATED INVESTMENT COMPANIES Excise Tax on Real Estate Investment Trusts § 55.4981-2 Imposition of excise tax with...

  16. Analysis of the main sources of investments financing in real estate

    Directory of Open Access Journals (Sweden)

    Ylldeze Sokoli

    2016-03-01

    Full Text Available The development of the construction industry is an important sector and the special contribution to the gross domestic product and as such should be subject to study, because the performance of the fund financing the construction production is closely linked to the performance of GDP, but also the role of this sector in generating economic growth. Even in our country’s construction sector, as one of the leading sectors of the economy has affected the growth trend of the Albanian economy. Many developing economies have shown that credit markets and remittances are the main source of financing long-term investments in construction. Increased investment in the real estate market includes free financial resources and other populations, but the development and expansion of this sector has led to the reduction of unemployment in the country. In periods of economic growth, coupled with the growth of personal income, people seek to improve their living conditions and seek to take credit for use to purchase real estate. The role of the banking system in financing for investments in the real estate market is very important. The purpose of this paper is to identify what are the factors affecting the financing of investments in the construction sector, and to analyze the important relationships between them and the financing of investments in real estate. The methodology used in the paper is based on foreign literature, materials and works of local and foreign authors. The data were taken from the reports of Bank of Albania’s Institute of Statistics, World Bank and others. Linear Regression model is built referring OLS method, to determine the factors affecting the financing of investments in the real estate market. The results of this study can be used by relevant institutions and central governmental institutions for the formulation of policies and strategies for the development of this industry, as well as the stakeholders of this sector (businesses

  17. Real Estate Investment Trusts And Fundamentals of Real Estate Investments : A Case of Turkey(Gayrimenkul Yatırım Ortaklıkları ve Gayrimenkul Yatırımlarının Temelleri: Türkiye Örneği

    Directory of Open Access Journals (Sweden)

    G. Cenk AKKAYA

    2005-01-01

    Full Text Available A real estate investment trust (REIT is a corporation or a business trust that combines the capital of many investors to acquire (or provide financing for various real estate assets. Investors get a share of the earnings, depreciation, etc. from the portfolio of real estate holdings that the REIT owns. REITs were created to provide investors with the opportunity to participate in the benefits of ownership of larger-scale commercial real estate or mortgage lending. Finally, REITs is that they are probably the best inflation hedge around.

  18. 26 CFR 1.857-6 - Method of taxation of shareholders of real estate investment trusts.

    Science.gov (United States)

    2010-04-01

    ... 26 Internal Revenue 9 2010-04-01 2010-04-01 false Method of taxation of shareholders of real estate investment trusts. 1.857-6 Section 1.857-6 Internal Revenue INTERNAL REVENUE SERVICE, DEPARTMENT...-6 Method of taxation of shareholders of real estate investment trusts. (a) Ordinary income. Except...

  19. Experiments to Enhance Public Real Estate in Italy: the Case of the FIP Fund

    Directory of Open Access Journals (Sweden)

    Andrea Ciaramella

    2012-04-01

    Full Text Available The Italian State’s real estate is involved in a boundary definition process which is still in progress. The experiments in process and the comparison between Public Administration and private operators often focus the debate on issues which relate to the financial instruments or the company vehicles which may be adopted. However, no enhancement is possible in the absence of an approach aimed at a precise knowledge of the characteristics of every individual building. The article summarizes the experiment of the most important public contribution investment fund achieved in Italy (Public Real Estate Investment Fund and demonstrates the complex technical and managerial activity necessary to regularise the real estate and which is indispensable for making the management company’s objectives feasible.

  20. Pengaruh Investment Opportunity Set Berbasis Pada Harga Saham Terhadap Real Growth Perusahaan Properti Dan Real Estate Di Bursa Efek Indonesia

    OpenAIRE

    Silvia, Ditha

    2013-01-01

    This Study aims to analyze the influence of investment opportunity set (IOS) based on the share price to the real growth of the companies either simultaneously or partially on the real estate and property companies at Indonesian Stock Exchange (IDX). The sampling method used is purposive sampling method with the population of 40 real estate companies and from properties listed on Indonesia Stock Exchange , 28 companies sampled acquired in the period 2009 – 2011 . the data resource in this st...

  1. [THE USE OF OPEN REAL ESTATE DATABASES FOR THE ANALYSIS OF INFLUENCE OF CONCOMITANT FACTORS ON THE STATE OF THE URBAN POPULATION'S HEALTH].

    Science.gov (United States)

    Zheleznyak, E V; Khripach, L V

    2015-01-01

    There was suggested a new method of the assessment of certain social-lifestyle factors in hygienic health examination of the urban population, based on the work with the open real estate databases on residential areas of the given city. On the example of the Moscow FlatInfo portal for a sample of 140 residents of the city of Moscow there was studied the distribution of such available for analysis factors as a typical design of the building, where studied citizen resides, the year of its construction and the market price of 1m2 of housing space in this house. The latter value is a quantitative integrated assessment of the social and lifestyle quality of housing, depending on the type and technical condition of the building, neighborhood environment, infrastructure of the region and many other factors, and may be a useful supplemental index in hygienic research.

  2. 12 CFR 617.7610 - What should the System institution do when it decides to sell acquired agricultural real estate?

    Science.gov (United States)

    2010-01-01

    ... decides to sell acquired agricultural real estate? 617.7610 Section 617.7610 Banks and Banking FARM CREDIT... institution do when it decides to sell acquired agricultural real estate? (a) Notify the previous owner, (1) Within 15 days of the System institution's decision to sell acquired agricultural real estate, it must...

  3. 12 CFR 617.7615 - What should the System institution do when it decides to lease acquired agricultural real estate?

    Science.gov (United States)

    2010-01-01

    ... decides to lease acquired agricultural real estate? 617.7615 Section 617.7615 Banks and Banking FARM... the System institution do when it decides to lease acquired agricultural real estate? (a) Notify the... real estate at a rate equivalent to the appraised rental value of the property. (1) Within 15 days...

  4. 12 CFR 617.7620 - What should the System institution do when it decides to sell acquired agricultural real estate...

    Science.gov (United States)

    2010-01-01

    ... decides to sell acquired agricultural real estate at a public auction? 617.7620 Section 617.7620 Banks and... What should the System institution do when it decides to sell acquired agricultural real estate at a public auction? System institutions electing to sell or lease acquired agricultural real estate or a...

  5. Construction and the Analysis of the Models of Mass Appraisal of Residential Real Estate in Riga and Daugavpils

    Directory of Open Access Journals (Sweden)

    Oksana Ruzha

    2013-01-01

    Full Text Available Mass appraisal of real estate is one of the most classical economic tasks in accomplishing of which econometric modeling is successfully applied. The following article dwells upon three models used for estimating the commercial value of residential real estate. For the purposes of the research the market of residential real estate of two cities (i.e. capital of Latvia - Riga and the regional centre – Daugavpils has been studied. The statistical analysis of the sales data for 2010-2011 has allowed distinguishing pricing factors of the residential real estate, both at the regional level, and at the level of a building and object of real estate. Modeling was conducted with the use of correlation and regression and cluster analyses. The additive and multiplicative models based on the regression equation and the model of the cluster analysis based on the method of parallel sectioning have been presented

  6. KRITIK TERHADAP PENYEDIAAN RUANG BAGI WANITA DALAM PERUMAHAN REAL-ESTATE

    Directory of Open Access Journals (Sweden)

    Bharoto Bharoto

    2012-02-01

    Full Text Available One of gender issues in architecture is domesticity, space in a home. According to feminist perspectivehome spatial design must be consider women’s spatial use for housework activities. Preliminaryresearch shows that mothers of a household tend to use kitchen, living room, and master bedroom intheir everyday activities so there must be connectedness appearance among those spaces. In fact, homedesign in Indonesia pays less attention to it. This research aimed to find out how far real-estatedeveloper accommodates the women’s spatial use for housework activities on their products. Data isobtained from 81 real estate advertisements on newspaper. The data is treated by content analysis tofind the offering items on the advertisement. The result show that 19% real- estate developers use facilityof housing and environment as superiority on their products and only 3.5% of them use householdspatial needs. It can be concluded that home design in Indonesia pay less attention to women’s spatialuse for housework activities

  7. The Effects of 2008 Global Financial Crisis to the USA Real Estate Sector and Comparison of Similarity-Difference with the Situation of the Turkish Real Estate Sector in Recent Period

    Directory of Open Access Journals (Sweden)

    Fatih ŞENTÜRK

    2016-07-01

    Full Text Available The liquidity crisis which stemmed from the low-income families’ inability to pay back the high-risk housing credits which were given by relying on the low interest rates in 2008 not only caused damage in the US but also in several other countries’ real estate sectors, thus making finance institutions and investors suffer significant losses. In this study, it is endeavored to compare similarities and differences between the global financial crisis’ reflections on the US economy with the Turkish real estate sector in the recent period. Real estate, which is the leading sector in Turkey, has experienced economic losses during the crisis period due to the contraction in GDP. In this context, it is aimed to examine controversies regarding the forming of a housing bubble as well as the possibility of a similar crisis to the liquidity crisis in the US happening in Turkey due to an atmosphere of panic caused by the private sector’s and households’ increasing burden of debt.

  8. Corporate real estate management stratgies in Dutch higher education

    NARCIS (Netherlands)

    Theo van der Voordt; Ronald Beckers

    2014-01-01

    Purpose This paper aims to explore the management approaches concerned with the process of aligning Corporate Real Estate (CRE) with organizational goals on a strategic level and regarding day-to-day operating activities in higher education institutes. Methodology/approach – The paper first outlines

  9. Corporate real estate alignment strategies in Dutch higher education

    NARCIS (Netherlands)

    Theo van der Voordt; Ronald Beckers

    2014-01-01

    Purpose – This paper aims to explore the management approaches concerned with the process of aligning Corporate Real Estate (CRE) with organizational goals on a strategic level and regarding day-to-day operating activities in higher education institutes. Methodology/approach – The paper first

  10. SATISFACTION, TRUST AND COMMITMENT AS DIMENSIONS OF LOYALTY IN REAL ESTATE COMPANIES

    Directory of Open Access Journals (Sweden)

    Florin-Alexandru LUCA

    2016-07-01

    Full Text Available Relationship marketing activities are assessed in the end according to the profitability obtained by the company. However, the calculation of the obtained profit includes a lot of variables which are not related to the marketing activities. In these circumstances, it is more appropriate to perform the assessment of the results of the marketing activities at a more concrete level, by studying their possible determining factors. Some of the most important factors that determine customer loyalty are: Satifaction, Trust and Commitment.This article has two parts : a qualitative research stage and a quantitative research The stage of qualitative research consists of analyzing the research literature from this domain, which highlights the dimensions of Loyalty Construct, relevant for the real estate field. The stage of quantitative research aims at testing the proportion of content validity for the most commonly used variables in the real estate field of practice. The results describe an estimation of the dimensions of the Loyalty Construct for the case of real estate services.

  11. Barometer for Municipal Community Real Estate : Developments from 2008 until 2015

    NARCIS (Netherlands)

    van den Beemt, Annette; Veuger, Jan

    2016-01-01

    The purpose of this study is to show how local authorities (municipalities) deal with their community real estate. The study is an annually recurring research: every year since 2008 (except for 2013), Dutch municipalities have been asked to complete a questionnaire about how they manage their real

  12. Past and Future Sources of Commercial Real Estate Returns

    OpenAIRE

    Joseph L. Pagliari, Jr.; James R. Webb

    1992-01-01

    Historical commercial real estate returns are attributed to three fundamental factors: initial current yield, growth in net operating income, and changes in going-in versus going-out capitalization rates (i.e., pricing movements). Separating returns into these three factors appears to provide more insightful information than the traditionally reported income and appreciation returns. Using this three-factor model, a two-dimensional matrix of projected ten-year real yields is estimated for eac...

  13. The role of smart home in smart real estate

    NARCIS (Netherlands)

    Allameh, E.; Heidari Jozam, M.; Vries, de B.; Timmermans, H.J.P.; Beetz, J.; Mozaffar, F.

    2012-01-01

    Purpose – The purpose of this paper is to review an emerging type of dwelling, indicated as Smart Home, with a focus on future user lifestyles and needs. Trends toward sustainability and technological changes dramatically alter the concepts of Smart Home. Consequently, real estate decisions are

  14. 26 CFR 1.1445-8 - Special rules regarding publicly traded partnerships, publicly traded trusts and real estate...

    Science.gov (United States)

    2010-04-01

    ... partnerships, publicly traded trusts and real estate investment trusts (REITs). 1.1445-8 Section 1.1445-8... estates upon the disposition of U.S. real property interests. Except as otherwise provided in this... Bonds § 1.1445-8 Special rules regarding publicly traded partnerships, publicly traded trusts and real...

  15. Overview of reaction to the economic crisis in construction and real estate modelling

    OpenAIRE

    Petrošius, Jonas; Kelpšienė, Loreta

    2010-01-01

    This paper analyzes general economic crisis and its effect on industry. Construction sector while being a mediator between production and service sectors makes impact on both of them; one new immediate workplace on a construction site incites the establishing of two or more workplaces in other industry branches. After the bursting of the real estate bubble the effects of crisis on construction and real estate sectors are very tangible both in the world and in Lithuania. Companies whose work i...

  16. Exa mining The Measurement Methods of Investment Properties of Real Estate Investment Trusts According to Turkish Accounting Standard 40: Investment Properties Standard

    Directory of Open Access Journals (Sweden)

    Emine Çına Bal

    2015-03-01

    Full Text Available Recently, the real estate industry has developed rapidly in Turkey. As an investment tool,investment in real estate became essential. Within the framework of the Capital Markets Law, organized by the Capital Markets Board of Turkey real estate investment trusts, real estate, real estate-based projects, and real estate capital market instruments by investing in a portfolio management company operating in the specific type. In this study, measurement methods of investment properties after recogn 31 real estate investment trust companies that traded in Borsa Istanbul is analyzed in order to examine the effect of policy selection on return on equity, return on asset and market to book value ratio of the companies’ financial statements and disclosures by using the nonparametric test of Mann-Whitney U Test. Non-consolidated financial statements and disclosures for 2013 of 21 real estate investment trust companies is included to the examination. Results of the test that is individually applied for each ratio show that the effect of policy selection on the ratios is statistically insignificant.

  17. Sustainability strategies for real-estates. Thinking long-term and shoulder entrepreneurial responsibility; Nachhaltigkeitsstrategien fuer Immobilien. Langfristig denken und unternehmerische Verantwortung wahrnehmen

    Energy Technology Data Exchange (ETDEWEB)

    Kaeding, Uta; Sigg, Rene [Intep - Integrale Planung GmbH, Hamburg (Germany); Intep - Integrale Planung GmbH, Muenchen (Germany)

    2011-07-01

    On the basis of their corporate strategy and sustainability strategy responsible companies set suitable objectives for their real-estate portfolio. The companies recognized that sustainable real-estates offer long-term economic advantages and reduced risks. For the development and conversion of a sustainability strategy for real-estates innovative tools and aids are available today which make the life cycle costs or the surplus value of sustainable real-estates transparent.

  18. Asset Allocation and Diversification by Real Estate Sector Within a Portfolio: Two Australian Case Studies

    OpenAIRE

    Mike Wallace

    1992-01-01

    The research results presented in this paper are a subset of a more extensive investigation of asset allocation and investment diversification in a pooled or mixed asset portfolio including bonds, equities and real estate in real property form, and listed and unlisted property trusts as they are termed in Australia. Australian property trusts are analogous to Real Estate Investment Trusts (REITs) in the United States. This empirical research study is exploratory in nature, and concentrates sp...

  19. The Journal of Real Estate Research: A Ten-Year Review

    OpenAIRE

    G. Donald Jud

    1996-01-01

    This paper provides a catalogue of the papers published in The Journal of Real Estate Research during its first ten years of operation, 1986-96. Articles are indexed by volume and number of The Journal, author, title, and subject.

  20. A state-space model for residential real estate valuation

    NARCIS (Netherlands)

    Francke, M.

    2010-01-01

    All property in the Netherlands has to be appraised yearly. Yearly valuation has only been made possible with the help of models. The number of real estate appraisers is simply too small to value the more than 7 million residential properties. This paper describes the statistical model that is used

  1. Utilizing 3D building and 3D cadastre geometries for better valuation of existing real estate

    NARCIS (Netherlands)

    Isikdag, U.; Horhammer, M.; Zlatanova, S.; Kathmann, R.; Van Oosterom, P.J.M.

    2015-01-01

    Valuation of the properties is known as real estate appraisal, property valuation or land valuation and is a process which focuses on determining the value of a building or a land lot. The valuation of each real estate is required prior to any transaction as every property is unique in terms of

  2. Financial innovation in the public real estate market : How to exploit arbitrage opportunities in public real estate pricing due to investment approach differences between the real estate market and the capital market

    OpenAIRE

    Gejler, Jacob

    2013-01-01

    As the stock market is volatile and often short-term, there is a high demand for safe investments outside the stock market and institutional investors like pension funds, insurance companies and asset managers are increasingly searching for low-risk investments that can deliver safe returns.   Alternative investments, like real estate, are a popular way to invest institutional capital. However, debates whether pension savers should have the right to transfer their pension capital without rest...

  3. Housing price gradient and immigrant population: Data from the Italian real estate market.

    Science.gov (United States)

    Antoniucci, Valentina; Marella, Giuliano

    2018-02-01

    The database presented here was collected by Antoniucci and Marella to analyze the correlation between the housing price gradient and the immigrant population in Italy during 2016. It may also be useful in other statistical analyses, be they on the real estate market or in another branches of social science. The data sample relates to 112 Italian provincial capitals. It provides accurate information on urban structure, and specifically on urban density. The two most significant variables are original indicators constructed from official data sources: the housing price gradient, or the ratio between average prices in the center and suburbs by city; and building density, which is the average number of housing units per residential building. The housing price gradient is calculated for the two residential sub-markets, new-build and existing units, providing an original and detailed sample of the Italian residential market. Rather than average prices, the housing price gradient helps to identify potential divergences in residential market trends. As well as house prices, two other data clusters are considered: socio-economic variables, which provide a framework of each city, in terms of demographic and economic information; and various data on urban structure, which are rarely included in the same database.

  4. Research on the Development Mode of Real Estate Crowdfunding%房地产众筹发展模式研究

    Institute of Scientific and Technical Information of China (English)

    贺灵

    2015-01-01

    近几年我国房地产市场逐渐进入白银时代,房地产企业面临严重的库存高、融资难等问题,房地产众筹则成为房地产企业的转型之路。通过分析我国房地产众筹的发展情况、发展模式及典型案例等,研究发现我国房地产众筹仍处于起步阶段,主要以营销型、投资型为主,而集体定制模式的房地产众筹颇具潜力,针对目前存在的问题,提出一些解决对策。%In recent years,China’s real estate market has gradually entered the era of real estate, real estate enterprises are facing serious problems of high inventory,financing difficulties,real estate crowdfunding would become the transformation of the road of real estate companies.This paper mainly analyzes the development of real estate crowdfunding in China,the development model and the typical case,the research found that the real estate crowdfunding is still in the initial stage of development,mainly in marketing,investment oriented,and the collective customization mode of real estate crowdfunding has considerable potential.And for the current model of the problem,put forward some countermeasures.

  5. Real Estate in an ALM Framework - The Case of Fair Value Accounting

    NARCIS (Netherlands)

    D. Brounen (Dirk); M. Porras Prado (Melissa); M.J.C.M. Verbeek (Marno)

    2007-01-01

    textabstractThis study examines the liability hedging characteristic of both direct and indirect real estate, in the advent of fair value accounting obligations for pension funds. We explicitly model pension obligations as being subject to interest and inflation risk to analyze the ability of real

  6. An Analysis of the Real Estate Property Managing Occupation.

    Science.gov (United States)

    Bryan, James E.

    The general purpose of the occupational analysis is to provide workable, basic information dealing with the many and varied duties performed in the real estate property manager occupation. The document opens with a brief introduction followed by a job description. The bulk of the document is presented in table form. Eleven duties are broken down…

  7. The Challenges for Real Estate Mass Valuation and Taxation System for the Economic Stabilization of Latvia

    OpenAIRE

    Barvika, S; Rausis, A; Geipele, I

    2012-01-01

    The real estate tax policy, as well as a massive reform in the real estate mass valuation was among major reforms of the Latvian government in the financial crisis management plan. These reforms were supported by the International Monetary Fund and European Commission. One of the directions for economic recovery suggested by the lenders to Latvia was a reform of taxation system including reviewing of stagnated real property tax principles. This reform met total critici...

  8. Affinity Programs and the Real Estate Brokerage Industry

    OpenAIRE

    G Stacy Sirmans; David A. Macpherson

    2001-01-01

    This study surveys active real estate brokers obtaining information on involvement in affinity programs and referral/relocation networks. Some results regarding affinity involvement are: (a) 13% of respondents reported affinity affilliations, 75% reported no affiliations, and 12% indicated plans to become involved within the next year; (b) about half having affinity affiliations were involved with 2-4 groups; (c) affinity relationships were most often with membership organizations, corporatio...

  9. Estimating Net Realizable Value for Distressed Real Estate

    OpenAIRE

    James D. Shilling; John D. Benjamin; C.F. Sirmans

    1990-01-01

    This paper provides a framework for adjusting distressed real estate properties for liquidating discounts. We estimate the probability of receiving an offer on a property in any particular short interval of time. Our empirical evidence allows us to predict the average rate at which offers will occur in any particular interval of time. Further, it allows us to arrive at an estimate of net realizable value, adjusted for selling expenses.

  10. Assessing facade value - how clients make business cases in changing real estate markets

    Directory of Open Access Journals (Sweden)

    Alexandra Den Heijer

    2013-12-01

    Full Text Available Corresponding author: Dr. ir. Alexandra den Heijer, Delft University of Technology (TU Delft, Faculty of Architecture and the Built Environment, Department of Real Estate & Housing, Julianalaan 134, 2628 BL Delft, The Netherlands. Tel.: +31 15 278 4159; E-mail: a.c.denheijer@tudelft.nl RELEVANCE: The value of any intervention in the built environment is most relevant for the stakeholders that are investing in it. For them all costs need to be balanced with benefits - not necessarily directly financial, but adding value to the performance of the accommodated organization. Business cases contain performance criteria like competitive advantage (branding the organization, productivity (optimally supporting users of the building, profitability (on organizational level and sustainable development (monitoring the ecological footprint. In the changing real estate markets – from supply-driven to demand-driven and with increasingly higher vacancy rates – priorities in decisions about buildings have been shifting. PURPOSE: This paper elaborates on how (a the trends in real estate markets and (b changing priorities in decision making affect the quality demand for buildings and their facades. DESIGN/METHODOLOGY/APPROACH: This paper is based on research of the Real Estate Management chair in general (market analysis, transformation trends, conceptual frameworks and more specifically on decisions about university campuses in the past 10 years (14 campuses and 57 buildings assessed. FINDINGS: This paper provides both conceptual frameworks to assess the (added value of interventions in the built environment for the client and their (changing priorities in the brief for buildings and their facades

  11. Are Housing Markets Decoupled? A Case Study of Residential Real Estate Affordability in Austria

    Directory of Open Access Journals (Sweden)

    Florian PHILIPP

    2015-09-01

    Full Text Available Real estate arguably forms the most important asset to most households and the basis for their wealth. Around this context a model has been set up testing the relative affordability of real estate for the median household in Austria and the consequences of lower borrowing costs between 2004 and 2013 by vintage year. In this paper the hypothesis that the significant decline in base interest rates is not sufficient to offset the relative affordability loss caused by declining net household incomes and the simultaneous increase of real estate prices. To test this hypothesis a model has been set up comparing two different Housing Affordability Indices – one including and one excluding financing effects, having been compared via a multi factor model. Based on this calculation the author finds decreased base interest rates to offset relative affordability losses by only approximately 50%, verifying the hypothesis. The paper therefore argues for a potential decoupling of the residential housing market in Austria.

  12. 17 CFR 239.18 - Form S-11, for registration under the Securities Act of 1933 of securities of certain real estate...

    Science.gov (United States)

    2010-04-01

    ... under the Securities Act of 1933 of securities of certain real estate companies. 239.18 Section 239.18... Securities Act of 1933 of securities of certain real estate companies. This form shall be used for registration under the Securities Act of 1933 of (a) securities issued by real estate investment trusts, as...

  13. ANALISIS RASIO ALTMAN MODIFIKASI PADA PREDIKSI KEBANGKRUTAN PERUSAHAAN PROPERTY DAN REAL ESTATE YANG TERDAFTAR DI BEI

    OpenAIRE

    Anita Tri Widiyawati; Supri Wahyudi Utomo; Nik Amah

    2015-01-01

    Penelitian ini bertujuan untuk mengetahui pengaruh rasio Altman Modifikasi terhadap prediksi kebangkrutan. Jenis penelitian ini termasuk penelitian kuantitatif. Populasi dalam penelitian ini adalah perusahaan property dan real estate yang terdaftar di BEI. Teknik pengambilan sampel menggunakan purposive sampling sehingga diperoleh sampel sejumlah 32 perusahaan property dan real estate yang menerbitkan laporan keuangannya selama tahun 2011-2013. Teknik analisis data menggunakan regresi logisti...

  14. Recognising Revenue from the Construction of Real Estate in Financial Statements of Developers in Poland

    OpenAIRE

    Renata DYLAG; Malgorzata KUCHARCZYK

    2011-01-01

    The core business of real estate developers is performance long term developer contracts (directly or by subcontractors), that include constructing and selling residential and non-residential real estates. The characteristic feature of such contracts is the construction of properties that are generally financed by the principal over the whole project, by way of contractually agreed advances, and then – after the investment process has been completed – the ownership right is transferred to the...

  15. Application based on ArcObject inquiry and Google maps demonstration to real estate database

    Science.gov (United States)

    Hwang, JinTsong

    2007-06-01

    Real estate industry in Taiwan has been flourishing in recent years. To acquire various and abundant information of real estate for sale is the same goal for the consumers and the brokerages. Therefore, before looking at the property, it is important to get all pertinent information possible. Not only this beneficial for the real estate agent as they can provide the sellers with the most information, thereby solidifying the interest of the buyer, but may also save time and the cost of manpower were something out of place. Most of the brokerage sites are aware of utilizes Internet as form of media for publicity however; the contents are limited to specific property itself and the functions of query are mostly just provided searching by condition. This paper proposes a query interface on website which gives function of zone query by spatial analysis for non-GIS users, developing a user-friendly interface with ArcObject in VB6, and query by condition. The inquiry results can show on the web page which is embedded functions of Google Maps and the UrMap API on it. In addition, the demonstration of inquiry results will give the multimedia present way which includes hyperlink to Google Earth with surrounding of the property, the Virtual Reality scene of house, panorama of interior of building and so on. Therefore, the website provides extra spatial solution for query and demonstration abundant information of real estate in two-dimensional and three-dimensional types of view.

  16. The Influence Of Planning Decisions Regarding Land Evaluation Based On A Selected Local Real Estate Market

    Directory of Open Access Journals (Sweden)

    Foryś Iwona

    2015-12-01

    Full Text Available The article analyzes the influence of planning decisions on changes taking place on the local real estate market. Three stages of the planning process are studied in particular, i.e.: the passing of the study of conditions and directions of spatial development, the Commune Council Resolution on initiating the formulation of a local spatial development plan, and finally the Resolution on accepting the local plan, as well as the effects of these activities on the land value in a given real estate market in Stargard Szczeciński, in the West-Pomeranian (Zachodniopomorskie Province of Poland. The object of the research is to identify the indicated relationships on a given real estate market, on which respective spatial planning stages can be distinguished, as well as the strength and course of the analyzed relationships. The study will verify the research hypothesis regarding the strength and directions of the effects of planning decisions as the direct and indirect reasons behind price changes on the real estate market. The analysis uses data from the Price Register and the District Starosty Values, along with statistical and public information data and the authors' own studies.

  17. Residential Real Estate in Europe: An Exploration of Common Risk Factors

    Directory of Open Access Journals (Sweden)

    Druica Elena

    2015-12-01

    Full Text Available We conduct an exploratory analysis using proxy measures of cross-sectional returns and rental yields in residential real estate. Asset pricing models predict that expected returns should exhibit some sensitivity to one or several fundamental variables that represent a common source of undiversifiable risk. Residential real estate, just like works of art and collectibles, is unique because it represents both an investment vehicle and a durable consumption good. Its pricing and returns should thus reflect both the benefits from portfolio diversification and the effect of supply and demand. In this paper, we investigate the variation in proxy returns and proxy rental yields across 34 major European cities, using a handful of independent variables that should account for the influence of market risk, inflation, and liquidity. In spite of obvious limitations stemming from our sample, we find that the explanatory power of our model is unusually high for a cross-sectional data analysis. Some of our findings concur with other studies showing that in spite of strong segmentation, real estate markets respond to the same structural risk factors. A good portion of our results, however, is hard to explain and interpret. Either we need to take into account cultural differences between Eastern and Western Europe as part of a behavioral approach, or we have to concede that we have been misled by the mismatch in the level of aggregation and the crude estimation of the dependent variables.

  18. Strategies for healthcare facilities, construction, and real estate management.

    Science.gov (United States)

    Lee, James G

    2012-05-01

    Adventist HealthCare offers the following lessons learned in improving the value of healthcare facilities, construction, and real estate management: Use an integrated approach. Ensure that the objectives of the approach align the hospital or health system's mission and values. Embrace innovation. Develop a plan that applies to the whole organization, rather than specific business units. Ensure commitment of senior leaders.

  19. CORPORATE BOND MARKET OF REAL ESTATE DEVELOPMENT COMPANIES IN POLAND

    Directory of Open Access Journals (Sweden)

    Magdalena Gostkowska-Drzewicka

    2014-06-01

    Full Text Available The aim of the article examines the features that determine the attractivenessof bonds as a financing instrument for real estate development projects in Poland, and the share of debt securities and bonds in the financing structure of real estate development companies. The implementation of such a formulated purpose required the application of methods of statistical description. Research was conducted on the basis of data from the statistics made by Fitch Ratings Polska, Catalyst, Narodowy Bank Polski, Związek Banków Polskich and the financial statements of bond issuers. The basic research period covers the years 1998-2012. However, due to the lack of published data about the structure of financing of development companies, interest rates, the nominal value, the bond structure by the buyers, the type, the purpose of issuance and the form of security, long-term studies were reduced to shorter periods. Results of the research indicate that the corporate bond market of development companies was in the phase of intensive growth in 2004-2012. Availability of funds obtained through the issuance of bonds increased by the establishment of appropriate infrastructure in 2009. The downturn in the real estate market initiated a series of structural changes in the financing of development companies in 2008- 2009. High margins and restrictive creditworthiness assessment brought on a search for alternative sources of financing. Due to restrictions imposed by the Act of 29th April 2012on the protection of the buyer of a dwelling or a single-family-house, it became important to provide flexible funding sources for development projects, including bond issuances.

  20. 5 CFR 6701.104 - Prohibited purchases of real estate by certain GSA employees involved in the acquisition or...

    Science.gov (United States)

    2010-01-01

    ... 5 Administrative Personnel 3 2010-01-01 2010-01-01 false Prohibited purchases of real estate by... Administrative Personnel GENERAL SERVICES ADMINISTRATION SUPPLEMENTAL STANDARDS OF ETHICAL CONDUCT FOR EMPLOYEES OF THE GENERAL SERVICES ADMINISTRATION § 6701.104 Prohibited purchases of real estate by certain GSA...

  1. On the Use of Hedonic Price Indices to Understand Ecosystem Service Provision from Urban Green Space in Five Latin American Megacities

    Directory of Open Access Journals (Sweden)

    Ursula Loret de Mola

    2017-12-01

    Full Text Available Latin American (LA megacities are facing enormous challenges to provide welfare to millions of people who live in them. High rates of urbanization and limited administrative capacity of LA cities to plan and control urban growth have led to a critical deficit of urban green space, and therefore, to sub-optimal outcomes in terms of urban sustainability. This study seeks to assess the possibility of using real estate prices to provide an estimate of the monetary value of the ecosystem services provided by urban green space across five Latin American megacities: Bogota, Buenos Aires, Lima, Mexico City and Santiago de Chile. Using Google Earth images to quantify urban green space and multiple regression analysis, we evaluated the impact of urban green space, crime rates, business density and population density on real estate prices across the five mentioned megacities. In addition, for a subset of the data (Lima and Buenos Aires we analyzed the effects of landscape ecology variables (green space patch size, connectivity, etc. on real estate prices to provide a first insight into how the ecological attributes of urban green space can determine the level of ecosystem service provision in different urban contexts in Latin America. The results show a strong positive relationship between the presence of urban green space and real estate prices. Green space explains 52% of the variability in real estate prices across the five studied megacities. Population density, business density and crime had only minor impacts on real estate prices. Our analysis of the landscape ecology variables in Lima and Buenos Aires also show that the relationship between green space and price is context-specific, which indicates that further research is needed to better understand when and where ecological attributes of green space affect real estate prices so that managers of urban green space in LA cities can optimize ecological configuration to maximize ecosystem service

  2. The Influence of Real Estate on Its Surroundings Based on the Example of the Manufaktura Complex in Lodz

    Directory of Open Access Journals (Sweden)

    Olbińska Katarzyna

    2015-02-01

    Full Text Available Real estate compared to other goods is distinguished by a high specificity. One of the signs of these specifics is the interdependence or correlation between property and its surroundings. On the one hand, the factor of closest neighborhood can largely shape the value of the property, while on the other hand, the function, use and development of real estate can strongly affect nearby property and the image of their entire neighborhood. The dynamics of the interdependence between the property and its environment reveal themselves most clearly in moments of transformation of real estate and its use.

  3. Technology and Real Estate Brokerage Firm Financial Performance

    OpenAIRE

    John D. Benjamin; Peter Chinloy; Donald Jud; Daniel T. Winkler

    2005-01-01

    This study investigates the impact of Internet usage on the financial performance of residential real estate brokerage firms using a database of over 1,700 observations. Factor loadings and a factor score for Internet usage are developed. The results show that Internet use is positively related to revenue and net income, and negatively related to net margin. In a second stage analysis, Internet use is found to be positively associated with franchise affiliation, affiliation with a referral /r...

  4. Technology is Set to Change Real Estate Forever

    OpenAIRE

    Walton, Nigel

    2016-01-01

    Major developments in the technological environment can become commonplace very quickly. They are now impacting upon a broad range of information-based service sectors, as high growth Internet-based firms, such as Google, Amazon, Facebook and Airbnb, and financial technology (Fintech) start-ups expand their product portfolios into new markets.\\ud \\ud Real estate is one of the information-based service sectors that is currently being impacted by this new type of competitor and the broad range ...

  5. Using real-estate-based financing to access capital.

    Science.gov (United States)

    Tobin, W C; Kryzaniak, L A

    1998-07-01

    One strategy employed by healthcare organizations to increase their market presence is the construction of new facilities. Accessing capital to fund such construction, however, has become more of a challenge. One relatively untapped source of building capital is real-estate-based financing. Nonrecourse mortgages, turnkey net leases, and synthetic leases can provide several advantages to healthcare organizations seeking capital, assuming issues related to building ownership, debt and balance sheet effects, and tax-exempt status have been thoroughly explored first.

  6. 7 CFR 767.153 - Sale of real estate inventory property.

    Science.gov (United States)

    2010-01-01

    ....153 Sale of real estate inventory property. (a) Pricing. (1) The Agency will advertise property for sale at its market value, as established by an appraisal obtained in accordance with § 761.7. (2... prorated between the Agency and the purchaser based on the date the Agency conveys title to the purchaser...

  7. Two-level modelling of real estate taxtation

    DEFF Research Database (Denmark)

    Gall, Jaroslav; Stubkjær, Erik

    2006-01-01

    Real estate taxes recurrently attract attention, because they are a source of potentially increased revenue for local and national government. Most experts agree that it is necessary to switch from using normative values for taxation to a market-value-based taxation of real property with computer......-assisted mass valuation, witch benefit from use of value maps. In Czech Republic, efforts have been made to adopt current tax policy goals, but improvements are still needed. The paper aims at supporting the current improvement process towards a market based system. It presents models, which describe aspects...... of the present Czech property tax system. A proposal for the future system focuses on the value map component. The described change depends on political involvement. This political activity is modelled as well. The hypothesis is that the two-level modelling effort enhances the change process by providing...

  8. Facilities management and corporate real estate management : FM/CREM or FREM?

    NARCIS (Netherlands)

    van der Voordt, Theo

    2017-01-01

    Purpose: This paper aims to explore similarities and dissimilarities between facilities management (FM) and corporate real estate management (CREM) regarding its history and key issues, and whether the similarities may result in a further integration of FM and CREM. Design/methodology/approach:

  9. Assessment of Predictor Importance with the Example of the Real Estate Market

    Directory of Open Access Journals (Sweden)

    Kubus Mariusz

    2016-12-01

    Full Text Available Regression methods can be used for the valuation of real estate in the comparative approach. However, one of the problems of predictive modelling is the presence of redundant or irrelevant variables in data. Such variables can decrease the stability of models, and they can even reduce prediction accuracy. The choice of real estate’s features is largely determined by an appraiser, who is guided by his/her experience. Still, the use of statistical methods of a feature selection can lead to a more accurate valuation model. In the paper we apply regularized linear regression which belongs to embedded methods of a feature selection. For the considered data set of real estate land designated for single-family housing we obtained a model, which led to a more accurate valuation than some other popular linear models applied with or without a feature selection. To assess the model’s quality we used the leave-one-out cross-validation.

  10. Estimating the Effect of Location Externalities on Real Estate Values Using the Delphi Method

    Directory of Open Access Journals (Sweden)

    Boaz Barzilay

    2012-12-01

    Full Text Available The Delphi method is a method of collecting and structuring knowledge from a group of experts using a questionnaire combined with a controlled opinion feedback. The present paper reviews the main principles of the Delphi method, and attempts to validate its results using data obtained by standard econometric techniques of real estate appraisal, such as the hedonic price method. As we argue, the Delphi method may become a useful tool for real estate appraisal for unique cases, such as small communities with relatively few housing sales and transitional economies characterized by developing property markets.

  11. The Dematel Method in the Analysis of the Residential Real Estate Market in Bialystok

    Directory of Open Access Journals (Sweden)

    Gołąbeska Elżbieta

    2018-03-01

    Full Text Available The article is of a dual character. On the one hand, it concerns the analysis of the real estate market in terms of investment attractiveness and the influence of particular attributes of property on attractiveness itself. On the other hand, it proposes the use as a research tool selected using one of the multicriteria methods (DEMATEL, which is an alternative to commonly used statistical methods. The theoretical part of the work is completed by a brief computational example which deals with the analysis of factors affecting the prices of residential real estate on a local scale.

  12. Welfare Cost of the Real Estate Transfer Tax

    OpenAIRE

    Buettner, Thiess

    2017-01-01

    This paper considers the welfare implications of a tax on real estate transfers. A theoretical analysis shows how the discouragement of mutually beneficial transactions as well as tax-sheltering activities give rise to a welfare loss that can be estimated comprehensively from the empirical elasticity of the tax base. In the absence of tax planning, the elasticity of the tax base is determined by the hazard rate to deter transactions at the margin. With tax planning, the elasticity of the tax ...

  13. Carrington Real Estate Services, LLC and Carrington Mortgage Services, LLC Information Sheet

    Science.gov (United States)

    Carrington Real Estate Services, LLC and Carrington Mortgage Services, LLC (the Company) is located in Anaheim, California. The settlement involves the sale of properties constructed prior to 1978, located in Bakersfield and Ridgecrest, California.

  14. The social construction of real estate market risk. The case of a financial investments cluster in Mexico City

    Directory of Open Access Journals (Sweden)

    Louise David

    2012-11-01

    Full Text Available This article contributes to the study of the geographical concentration of financial investments in real estate markets. It demonstrates the social construction process at work in the evolution of real estate market risks. The objective is to highlight the conditions that allow or impede the implementation of ‘opportunistic’ and ‘conservative’ risk strategies. By analyzing the market entry of financial investors in the Cuautitlan industrial real estate market - an ‘emerging’ real estate market in Mexico City - this paper demonstrates that, due to the joint action of land developers, non-financial as well as financial real estate investors, this market moved from being ‘too risky’ to becoming an opportunistic market, and then a conservative one. There were two important phases in the transformation process. First, the contribution of land developers was fundamental to the transformation of the market from being too risky to being opportunistic from the perspective of financial investors. Two different types of land developers are evident: some are not willing to help financial investors’ entry in the market while others developed a business plan designed to facilitate financial investments. In the second phase of the market’s risks transformation, opportunistic financial investors enabled the conditions for the arrival of conservative financial investors, thanks to their presence in emerging markets and the diffusion of information.

  15. Positive Solutions for Fractional Differential Equations from Real Estate Asset Securitization via New Fixed Point Theorem

    Directory of Open Access Journals (Sweden)

    Hao Tao

    2012-01-01

    analysis of real estate asset securitization by using the generalized fixed point theorem for weakly contractive mappings in partially ordered sets. Based on the analysis for the existence and uniqueness of the solution and scientific numerical calculation of the solution, in further study, some optimization schemes for traditional risk control process will be obtained, and then the main results of this paper can be applied to the forefront of research of real estate asset securitization.

  16. Importance of the Marine Cadastre in the Development of the Real Estate Industry in Latvia

    OpenAIRE

    Stāmure, I; Kaminskis, J; Kowalczyk, K

    2017-01-01

    In Latvia, the issues of the Real Estate Cadastre are arranged; however, it should be noted that part of the issues affecting the Baltic Sea, i.e., the issues of the Marine Cadastre, are not covered by the Real Estate Cadastre. The status of the Baltic coastline is an essential element of infrastructure for all countries around the Baltic Sea. This baseline serves as the key element or reference for the Marine Cadastre. In place-to-place, this line is the dynamic element as it is possible ...

  17. Can Free Entry be Inefficient? Fixed Commissions and Social Waste in the Real Estate Industry

    OpenAIRE

    Chang-Tai Hsieh; Enrico Moretti

    2002-01-01

    Real estate agents in the US typically charge a 6 percent commission, regardless of the price of the house sold. As a consequence, the commission fee from selling a house will differ dramatically across cities depending on the average price of housing, although the effort necessary to match buyers and sellers may not be that different. We use a simple economic model and cross-city data to measure the effect of the fixed commission rate on market entry by real-estate agents. We show that if th...

  18. The Application of Classical and Neural Regression Models for the Valuation of Residential Real Estate

    Directory of Open Access Journals (Sweden)

    Mach Łukasz

    2017-06-01

    Full Text Available The research process aimed at building regression models, which helps to valuate residential real estate, is presented in the following article. Two widely used computational tools i.e. the classical multiple regression and regression models of artificial neural networks were used in order to build models. An attempt to define the utilitarian usefulness of the above-mentioned tools and comparative analysis of them is the aim of the conducted research. Data used for conducting analyses refers to the secondary transactional residential real estate market.

  19. Adding value by health care real estate : parameters, priorities, and interventions

    NARCIS (Netherlands)

    van der Voordt, Theo

    2016-01-01

    Purpose - Because of the transition of the Dutch health care sector from a governmentally steered domain towards regulated market forces, health care organisations have become fully responsible for their real estate. This paper aims to explore if/how Dutch health care organisations adopt the

  20. 76 FR 32882 - New Markets Tax Credit Non-Real Estate Investments

    Science.gov (United States)

    2011-06-07

    ... New Markets Tax Credit Non-Real Estate Investments AGENCY: Internal Revenue Service (IRS), Treasury... proposed regulations modifying the new markets tax credit program to facilitate and encourage investments... claiming the new markets tax credit and businesses in low-income communities relying on the program. This...

  1. 26 CFR 1.858-1 - Dividends paid by a real estate investment trust after close of taxable year.

    Science.gov (United States)

    2010-04-01

    ... 26 Internal Revenue 9 2010-04-01 2010-04-01 false Dividends paid by a real estate investment trust after close of taxable year. 1.858-1 Section 1.858-1 Internal Revenue INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURY (CONTINUED) INCOME TAX (CONTINUED) INCOME TAXES Real Estate Investment Trusts § 1...

  2. Assessing facade value - how clients make business cases in changing real estate markets

    Directory of Open Access Journals (Sweden)

    Alexandra den Heijer

    2013-12-01

    Full Text Available Relevance: The value of any intervention in the built environment is most relevant for the stakeholders that are investing in it. For them all costs need to be balanced with benefits - not necessarily directly financial, but adding value to the performance of the accommodated organization. Business cases contain performance criteria like competitive advantage (branding the organization, productivity (optimally supporting users of the building, profitability (on organizational level and sustainable development (monitoring the ecological footprint. In the changing real estate markets – from supply-driven to demand-driven and with increasingly higher vacancy rates – priorities in decisions about buildings have been shifting.Purpose: This paper elaborates on how (a the trends in real estate markets and (b changing priorities in decision making affect the quality demand for buildings and their facades.Design/methodology/approach: This paper is based on research of the Real Estate Management chair in general (market analysis, transformation trends, conceptual frameworks and more specifically on decisions about university campuses in the past 10 years (14 campuses and 57 buildings assessed.Findings: This paper provides both conceptual frameworks to assess the (added value of interventions in the built environment for the client and their (changing priorities in the brief for buildings and their facades.

  3. Izlaganje na javni uvid podataka o nekretninama i utvrđivanje prava na zemljištu u funkciji uspostave jedinstvenog registra zemljišta i prava na zemljištu u Brčko distriktu BiH : Public presentation of data on real-estate and determination of rights in function of the establishment of a single registry of real-estate and real rights to real-estate in the Brcko district of B&H

    Directory of Open Access Journals (Sweden)

    Faruk Latifović

    2014-12-01

    Full Text Available Zakon o registru zemljišta i prava na zemljištu Brčko distrikta Bosne i Hercegovine je propisao uspostavu jedinstvene evidencije nekretnina i stvarnih prava na nekretninama u Brčko distriktu Bosne i Hercegovine. Poslovi uspostave jedinstvene evidencije, u segmentu izlaganja na javni uvid podataka o nekretninama i utvrđivanje prava, su povjereni Vijeću za izlaganje podataka o nekretninama i utvrđivanje prava na zemljištu Brčko distrikta Bosne i Hercegovine. Autor se, u ovom radu, uz nezaobilazan kraći prikaz historijata javnih evidencija na nekretninama u Bosni i Hercegovini, bavi organizacijom, nadležnostima i načinom rada Vijeća za izlaganje podataka o nekretninama i utvrđivanje prava na zemljištu Brčko distrikta BIH. Nakon što bude uspješno okončan projekat izlaganje podataka o nekretninama i utvrđivanje prava na zemljištu u Brčko distriktu BiH, svi geodetsko – katastarski podaci o nepokretnostima kao i podaci o njihovom pravnom statusu će biti vođeni u Registru zemljišta i prava na zemljištu Osnovnog suda Brčko distrikta BiH. : The Law of Land Registry and Rights over Land of the Brčko District of B&H stipulated the establishment of a single registry of real-estate and real rights to real-estate in the Brčko District of B&H. Activities of the establishment of a single registry, in the segment of public presentation of data on real-estate and determination of rights, were entrusted to the Council for Presentation of Data on Real-estate and Establishment of Rights to Land of the Brčko District of B&H. In this paper, the author presents the inevitable short overview of the history of real-estate registries in Bosnia and Herzegovina and he also deals with organization, competencies and manner of work of the Council for Presentation of Data on Real-estate and Establishment of Rights to Land of the Brčko District of B&H. After a successful completion of the project of presentation of data on real-estate and

  4. DEVELOPMENT TOOLKIT FOR REAL ESTATE MARKET ANALYSIS OF MOSCOW REGION

    Directory of Open Access Journals (Sweden)

    Alexey Yu. Yushin

    2014-01-01

    Full Text Available The article presents the developmentdirection of the tools of the secondary realestate market analysis associated withthe identification of market. Assessment of their quality, the relationship with each other and real estate, will improve thealgorithms for identifying repetitive objectsto exclude unreliable supply of assessment activities and a new perspective onthe dynamics of the market.

  5. The Future of Bricks and Mortar - A Financial Approach to investigating how technology will change the demand for real estate.

    OpenAIRE

    Lim, Pau Ling Alvin

    2008-01-01

    Technology has changed the way we live and work. It also change the way companies create markets, deliver products and serve customers. The internet is said to threaten the role of real estate, which is to provide spaces for people and for business to conduct their business. Proponents for real estate say that people and businesses will always need real estate while its distracters are calling for its demise. Some are predicting a merger of bricks and internet, also known as “Clicks and Morta...

  6. Application of the Beta Coefficient in the Market of Direct residential Real Estate Investments

    Directory of Open Access Journals (Sweden)

    Wolski Rafał

    2014-07-01

    Full Text Available The beta coefficient is one of the most popular indices used in contemporary finances. Despite the fact that there are justified doubts connected with its application, it is currently difficult to imagine a situation in which the cost of capital would be calculated without the use of the CAPM model. Thus, an attempt at answering the question whether and to what degree beta may be used in the real estate market constitutes an interesting problem. This is because on the one hand, the formal structure suggests that beta should not be used for assets which are not included in the benchmark but, on the other hand, such a benchmark should, at least theoretically, contain all market assets. Therefore, a decision was made to have a closer look at this issue, with the analysis of the possibility of using the beta coefficient in the residential real estate market set as the objective. Using the database of prices in the direct real estate investment created by the NBP, a comparison was conducted with regard to features of undertaken investments on the basis of an analysis of systematic risk calculated using selected indices available on the Polish market.

  7. Guidelines for target costing adoption in the development of products for the residential real estate market

    Directory of Open Access Journals (Sweden)

    Reymard Savio Sampaio de Melo

    Full Text Available Abstract This study focuses on the problems associated with the traditional practice of reducing costs in construction and the need to increase business competitiveness in the residential real estate sector. In this context, target costing is a promising approach to improve the competitiveness of companies by ensuring that the products launched on the market do not jeopardize the company's results and value delivery to customers. However, far too little attention is paid to target costing implementation by companies that develop residential real state products for sale and face strong market competition. Thus, this paper seeks to investigate whether the standard framework of target costing in the literature applies - with or without adjustments - to real estate developers. Case study was the research strategy adopted. Guidelines are proposed for the introduction of target costing in the development process of residential real estate products. The proposed guidelines are related to the three main sections of the target costing process: market-driven costing, product-level target costing and component-level target costing.

  8. 77 FR 59544 - New Markets Tax Credit Non-Real Estate Investments

    Science.gov (United States)

    2012-09-28

    ... Markets Tax Credit Non-Real Estate Investments AGENCY: Internal Revenue Service (IRS), Treasury. ACTION... communities. The final regulations affect taxpayers claiming the new markets tax credit and businesses in low... 45D(a)(1), a taxpayer may claim a new markets tax credit on certain credit allowance dates described...

  9. Market efficiency in the emerging securitized real estate markets

    OpenAIRE

    Schindler, Felix

    2010-01-01

    This paper tests the random walk hypothesis and market efficiency for twelve emerging as well as for four developed securitized real estate markets from 1992 to 2009. Random walk properties of equity prices influence return dynamics, and market efficiency is often considered an essential criterion in the assessment of the functionality of markets and the asset pricing process, which is of significant relevance for emerging markets in particular. The analysis is based on autocorrelation tests ...

  10. The Energy Efficiency of Corporate Real Estate Assets: The Role of Professional Management for Corporate Environmental Performance

    OpenAIRE

    Markus Surmann; Wolfgang A. Brunauer; Sven Bienert

    2015-01-01

    Despite the rising information about the ecological footprint and greenhouse gas externalities of corporates' activities only little is known about the energy efficiency of corporate real estate assets. When considering achievements from the past, such as significant reduction of carbon emissions and towards carbon accounting, the energy consumption of corporate real estate assets is of emerging interest within the sustainability strategy of corporations. On the contrary to residential and co...

  11. Hungry for housing: waqf real estate development - a social welfare alternative

    Directory of Open Access Journals (Sweden)

    Mohd Ali Siti Nadiah

    2016-01-01

    Full Text Available Islam has outlined 4 important elements to achieve fruitful life in the duniya and the akhirah. A famed hadith of Rasulullah (peace be upon him meaning “Four things that will bring joy to a person, which is (owning a pious woman (wife, a good house (spacious, a good neighbour, and a great vehicle” (Hadith narrated by Ibnu Hibban. It is clear from this hadith that Islam emphasised ownership of a comfortable home. The polemic remains that with skyrocketing housing prices in the market, would the low and middle income groups afford housing that is safe, comfortable and secure? Realising the importance of living in a secure and safe house, this study aims at investigating the possibility of leveraging the upward trend of waqf real estate development in empowering the Muslims’ economy in the country. Towards this end, the authors have conducted a study by collating primary and secondary data obtained from the Penang State Islamic Religious Council (Majlis Agama Islam Pulau Pinang for analysis. Thus the Penang Islamic Council is the study site. Semi structured interviews were conducted with 2 waqf officials who are in charge of coordinating waqf real estate developments in Penang. Based on the study conducted, it was found that Penang State Islamic Religious Council has succeeded in enhancing value added to waqf real estate developments through the implementation of 9 housing project developments using the ijarah concept. The Penang State Islamic Religious Council has enabled the low medium income groups to stay in comfortable and safe housing by utilising such holistic and efficient waqf product developments under shariah guidelines.

  12. Real Estate Development at Landslides

    Directory of Open Access Journals (Sweden)

    Hakan Kaya

    2015-03-01

    Full Text Available The desire to grow and develop at a fast pace without regard for scientific conditions is an obsession, particularly of developing countries like Turkey. However, any development achieved in ignorance of the scientific process and sustainability leads to higher costs as well as serious losses in terms of human and other life. Our area of study is one of the best examples of the negative effects of this type of development. The area under study covers the landslide sites located on the southwest of Istanbul (the Büyükçekmece, Beylikdüzü, Avcılar and Esenyurt districts which is the largest city in Turkey. In this study, we tried to probe into the real estate development process of the landslide sites, the measures taken or failed to be taken in this process, the humanitarian and economic conditions involved and the things required to be done.

  13. Possibilities Of Using Innovative Sources Of Information On Real Estate In The Spatial Data Collection Process

    Directory of Open Access Journals (Sweden)

    Kwartnik-Pruc Anita

    2015-03-01

    Full Text Available The register of land and buildings is an essential source of information on real estate. The use of cadastral data in land management is manifold, starting from spatial planning, through the calculation of taxes, the designation of real estate in land and mortgage registers, and finally, in real estate management. The accuracy of information from public records, i.e. the register of land and buildings, obtained by entities managing property has a direct impact on the correctness of the conducted processes of land management. Data necessary to determine the position of boundaries of cadastral parcels are taken from surveying documentation accepted into the national geodetic and cartographic resource database. If there is no such documentation, or the data contained therein are not reliable, information on the boundaries of cadastral parcels are obtained by means of field or photogrammetric surveys, preceded by the determination of the course of these boundaries.

  14. Determinants of voluntary carbon disclosure in the corporate real estate sector of Malaysia.

    Science.gov (United States)

    Kalu, Joseph Ufere; Buang, Alias; Aliagha, Godwin Uche

    2016-11-01

    Corporate real estate management holds the tent that risk which is not understood cannot be measured or managed. The effect of global warming on real estate investment and need for climate change mitigation through disclosures by companies of carbon emission information has becomes a sine-qua-non for the management of companies' carbon footprint and reducing its overall effect on global warming. This study applied the structural equation modeling technique to determine the determinants influencing Carbon Disclosure in Real Estate Companies in a developing economy. The analysis was based on 2013 annual reports of 126 property sector companies listed in Malaysia stock exchange market. The model was validated through convergent validity, discriminant validity, composite reliability and goodness of fit. The result reveals that social and financial market were critical determinant factors for carbon disclosure while the economic and institutional factors did not achieve significant effect on voluntary carbon disclosure. The result is consistent with legitimacy theory and agency theories. The implication of this finding is that increase in public education and awareness will enhance community demand for disclosure from companies and they will increase level of disclosure; also as financial institutions consider sustainability practice as a viable investment and term for credit financing, companies will be motivated to increase disclosure. Copyright © 2016 Elsevier Ltd. All rights reserved.

  15. Sales Comparison Approach Indicating Heterogeneity of Particular Type of Real Estate and Corresponding Valuation Accuracy

    Directory of Open Access Journals (Sweden)

    Martin Cupal

    2017-01-01

    Full Text Available The article focuses on heterogeneity of goods, namely real estate and consequently deals with market valuation accuracy. The heterogeneity of real estate property is, in particular, that every unit is unique in terms of its construction, condition, financing and mainly location and thus assessing the value must necessarily be difficult. This research also indicates the rate of efficiency of markets across the types based on their level of variability. The research is based on two databases consisting of various types of real estate with specific market parameters. These parameters determine the differences across the types and reveal heterogeneity. The first database has been set on valuations by sales comparison approach and the second one on data of real properties offered on the market. The methodology is based on univariate and multivariate statistics of key variables of those databases. The multivariate analysis is performed by Hotelling T2 control chart and statistics with appropriate numerical characteristics. The results of both databases were joint by weights with regard to the dependence criterion of the variables. The final results indicate potential valuation accuracy across the types. The main contribution of the research is that the evaluation was not only derived from the price deviation or distribution, but it also draws from causes of real property heterogeneity as a whole.

  16. On the Real Estate Marketing Strategy%浅谈房地产营销策略

    Institute of Scientific and Technical Information of China (English)

    左石华; 苏小林

    2013-01-01

    The marketing strategy is a key factor to increase market share and cultivate brand loyalty. To recognize the main problems of the current real estate marketing, propose combination and innovation of real estate marketing strategy.%  营销策略是提高市场占有率和培育品牌忠诚度的关键因素。认清当前房地产营销存在的主要问题,提出房地产营销策略的组合和营销策略的创新。

  17. Puzzling patterns in neighborhood change: upgrading and downgrading in highly regulated urban housing markets

    NARCIS (Netherlands)

    Teernstra, A.B.; van Gent, W.P.C.

    2012-01-01

    This study disentangles the relationship between income and real estate value development in Dutch urban neighborhoods. Within the literature on upgrading and downgrading, it is often assumed that neighborhood income and real estate value development are strongly linked. The results reported

  18. Corporate real estate mirrors brand: a conceptual framework and practical applications

    NARCIS (Netherlands)

    Khanna, C.; van der Voordt, Theo; Koppels, P.W.

    2013-01-01

    Purpose – The purpose of this paper is to show how international companies (can) use real estate as a means to reinforce corporate identity and to express brand values in order to evoke a positive image in today’s competitive world.
    Design/methodology/approach – The paper relies on a review of

  19. Aligning corporate real estate with the corporate strategies of higher education institutions

    NARCIS (Netherlands)

    Beckers, R; van der Voordt, Theo; Dewulf, G

    2015-01-01

    Purpose
    The purpose of this paper is to explore how corporate real estate (CRE) managers of higher education institutions formulate their CRE strategies and CRE operating decisions to align CRE with the corporate strategies of these institutions.

    Design/methodology/approach
    An

  20. Aligning corporate real estate with the corporate strategies of higher education institutions

    NARCIS (Netherlands)

    Theo van der Voordt; Geert Dewulf; Ronald Beckers

    2015-01-01

    Purpose – The purpose of this paper is to explore how corporate real estate (CRE) managers of higher education institutions formulate their CRE strategies and CRE operating decisions to align CRE with the corporate strategies of these institutions. Design/methodology/approach – An analytical

  1. THE RESTATEMENTS IMPACT OF THE REAL ESTATE ON THE INHERITANCE STRUCTURE

    Directory of Open Access Journals (Sweden)

    Adriana Craitar

    2016-12-01

    Full Text Available The modification of the recognition and consideration rules of the real estate in the patrimony of a company (beginning with 1st January 2015 leaded to new practices under the accounting aspect and under the analysis of the rates of structure. In the work, there are presented and explained the implications of accounting nature, in the first step and they are followed in a rational way by the modifications caused in the structure of the tangible elements. The practical aspects were followed and analyzed over a period of 3 years: between 2014 and 2016 being split pertinent conclusions. The decision of enclosing a real estate in one of the categories “Lands”, “Buildings” or “Investment property” is grounded in a big measure on the own accounting politics and on the professional reasoning. But, in report with this retreatment, notable modifications are registered in the tangible elements. These modifications appear in the size of the weight and also in the number of the structure rates for being calculated (determined by the introduction of new balance sheet to tangible.

  2. THE MARKET VALUE OF THE REAL ESTATE IN A SIGNIFICANT DEVALUATION OF THE NATIONAL CURRENCY

    Directory of Open Access Journals (Sweden)

    VORONIN V. A.

    2016-02-01

    Full Text Available Raising of problem. The current state of the real estate market is characterized by high inflation and a significant devaluation of national currency. In markets with mixed prices impact of devaluation and inflation against the foreign currency have most complex nature and usually leads to slower growth in prices in local currency and partial de-dollarization of the market. Provided that the value of the real estate market is denominated in local and foreign currency, it is necessary to solve the problem of correspondence between these prices. With this condition must be satisfied that the market prices in local currency correspond to the state of the real estate market on the valuation date. Purpose. Development of the method, which should take into account the particular valuation procedures in determining the market value of the local currency in terms of the existence of high inflation and a significant devaluation. The study of this problem, especially for the markets of emerging economics, is an urgent and important task of applied economic analysis and, in particular, the theory and practice of evaluation as part of this analysis. Conclusion. To achieve this goal have been developed and used techniques and methods of applied economic analysis and, in particular, the theory and practice of evaluation as part of this analysis. Satisfactory agreement obtained values and the market rent rate, which are responsible of the real estate market in a significant devaluation of local currency, confirm the position that the correction in market conditions ("discount on the offer price" and "market conditions" must be done in determining the market value so and the market rent rate.

  3. Public Management in a Real Estate Area – Some Empirical Evidence from Polish Municipalities

    Directory of Open Access Journals (Sweden)

    Marona Bartłomiej

    2016-12-01

    Full Text Available The main goal of this paper is to present the role of individual concepts of public management in the process of real estate management in Polish municipalities. Special attention was given to New Public Management (NPM as well as Good Governance (GG. The paper, apart from a review of literature and its critique, is based on the results of a survey conducted among municipalities belonging to the Kraków Metropolitan Area. This study demonstrates that both the NPM and the GG concepts do not constitute a benchmark model in the practice of municipal real estate management in Poland. The concepts are treated more as a set of tools from which the majority of municipalities choose only some, selected instruments.

  4. 76 FR 39343 - New Markets Tax Credit Non-Real Estate Investments; Correction

    Science.gov (United States)

    2011-07-06

    ... DEPARTMENT OF THE TREASURY Internal Revenue Service 26 CFR Part 1 [REG-101826-11] RIN 1545-BK04 New Markets Tax Credit Non-Real Estate Investments; Correction AGENCY: Internal Revenue Service (IRS... Tuesday, June 7, 2011 (76 FR 32882) modifying the new markets tax credit program to facilitate and...

  5. Building for a better hospital : Value-adding management & design of healthcare real estate

    NARCIS (Netherlands)

    Van der Zwart, J.

    2014-01-01

    Recent deregulation of laws on hospital real estate in the Netherlands implies that healthcare institutions have more opportunities to make independent accommodation choices, but at the same time have themselves become responsible for the risks associated with the investment. In addition,

  6. Uncertainty management in Real Estate Development: Studying the potential of SCRUM design methodology

    NARCIS (Netherlands)

    Blokpoel, S.B.; Reymen, Isabelle; Dewulf, Geert P.M.R.; Sariyildiz, S.; Tuncer, B.

    2005-01-01

    Real estate development is all about assessing and controlling risks and uncertainties. Risk management implies making decisions based on quantified risks to execute riskresponse measures. Uncertainties, on the other hand, cannot be quantified and are therefore unpredictable. In literature, much

  7. TIAA's Commercial Mortgage and Real Estate Investments: The Case for Financial Disclosure.

    Science.gov (United States)

    Garrigan, Richard T.; Jones, Thomas W.

    1992-01-01

    The Teachers Insurance and Annuities Association (TIAA) is criticized for inadequate financial disclosure of its mortgage and real estate investments, especially in the current market. A TIAA vice president responds that the company has not been remiss in reporting changes to its constituents and outlines its present financial status. (MSE)

  8. Synthetic real estate: bringing corporate finance to health care.

    Science.gov (United States)

    Varwig, D; Smith, J

    1998-01-01

    The changing landscape of health care has caused hospitals, health care systems, and other health care organizations to look for ways to finance expansions and acquisitions without "tainting" their balance sheets. This search has led health care executives to a financing technique that has been already embraced by Fortune 500 companies for most of this decade and more recently adopted by high-tech companies: synthetic real estate. Select case studies provide examples of the more creative financial structures currently being employed to meet rapidly growing and increasingly complex funding needs.

  9. Facilities Management and Corporate Real Estate Management as Value Drivers: How to Manage and Measure Adding Value

    DEFF Research Database (Denmark)

    Facilities Management (FM) and Corporate Real Estate Management (CREM) are two closely related and relatively new management disciplines with developing international professions and increasing academic attention. Both disciplines have from the outset a strong focus on controlling and reducing cost...... for real estate, facilities and related services. In recent years there has been a change towards putting more focus on how FM/CREM can add value to the organisation. The book is research based with a focus on guidance to practice. It offers a transdisciplinary approach, integrating academic knowledge from...

  10. Crowdfunding, an alternative source of financing construction and real estate projects. Guideline for Developers on how to use this tool in medium size projects.

    OpenAIRE

    Sierra Mercado, David

    2017-01-01

    Real estate crowdfunding comprises the process of investing in a real estate projects using online platforms, specialized websites that can reach a large number of potential investors, changing in just few years the traditional approach of the real estate industry. This phenomenon has become a trend among small and medium project developers, which nowadays have this additional source of financing. However, many people still unfamiliar about this new business model. Therefore, it is relevant t...

  11. Integrating data mining technique and AHP in market analysis to propose new product development in real estate

    Science.gov (United States)

    Yunita; Galinium, M.; Lukas

    2017-01-01

    New product development in real estate industry is a challenging process since it is related to long term concept and high cost. A newly proposed product development should meet customer need and their preferences which appropriate with customer buying power and company value. This research use data mining for profiling customer transaction and Analytic Hierarchy Process (AHP) method for product selection in new product development. This research utilizes Weka as data mining open source software to profiling data customers. The analysis correlated product preferences and profiling demography such as city, age, gender and occupation. Demography profiles gives description buying power and product preferences. The products proposed are based on customer profiles and rank of the product by AHP method. The product with the highest score will be proposed as new product development. Case studies of this research are real estate projects in Serang, Makassar, and Balikpapan. Makassar and Balikpapan are the project that already gained success and Serang is new project which new products development will be proposed to launch. Based on profiling and product preference of customer in Balikpapan, Makassar, and prospectus of Serang markets, new products development that will be proposed are house type of 120/200 m2 with price around Rp1.300.000.000 and house type of 71/120 m2 with price around Rp800.000.000. The markets of Serang and Balikpapan have similarities in profiles as urban city so the new products development will adopt the succeed story of Balikpapan project.

  12. 76 FR 77454 - New Markets Tax Credit Non-Real Estate Investments; Hearing Cancellation

    Science.gov (United States)

    2011-12-13

    ... DEPARTMENT OF THE TREASURY Internal Revenue Service 26 CFR Part 1 [REG-128224-06] RIN 1545-BF80 New Markets Tax Credit Non-Real Estate Investments; Hearing Cancellation AGENCY: Internal Revenue Service (IRS), Treasury. ACTION: Cancellation of notice of public hearing on proposed rulemaking. SUMMARY...

  13. Research on knowledge management contribution rate measurement for real estate enterprises

    Institute of Scientific and Technical Information of China (English)

    Shen Liangfeng; Deng Xiaolei

    2013-01-01

    Based on the improved method of Solow’s residual value,through the introduction of potential analy-sis method,a measurement model of enterprise knowledge management contribution rate (KMCR) is put forward in this paper,and is estimated by the performance measure of a real estate enterprise for implementing knowledge management (KM),then the results have shown that the model and the method have good feasibility.

  14. REAL ESTATE INVESTMENTS IN ROMANIA – ANALYSIS AND TENDENCIES

    OpenAIRE

    Ana Morariu; Cornel Dumitru Crecana

    2009-01-01

    A development of real estate companies have been taken in last few years related to Romanian property investment market. These companies were submitted to "globalization", in the sense of mergers, acquisitions, partnerships with multinational companies. Because users of financial statements (in special investors) a view as fair as possible of financial position, performance and cash flow statement, an accounting according to IFRS is needed.

  15. The external expectations of potential real estate buyers in Slovenia and Japan

    Directory of Open Access Journals (Sweden)

    Bojan Grum

    2010-01-01

    Full Text Available This article presents partial results of a survey being conducted in Slovenia and Japan. It seeks to determine the factors that have a decisive influence over potential real estate buyers when deciding to purchase. The article focuses on the role of potential buyers’ external expectations in relation to their various cultural identities. We follow the hypothesis that these differences in external expectations are statistically significant. The primary instrument for measuring participants’ expectations was a survey in which 1,270 people participated. We statistically analysed the results by conducting a one-way analysis of variance related to the participants’ various cultural identities. By analysing the results of the statistical analyses, we confirmed the hypothesis. It is evident from the results that Slovenian participants had lower expectations in terms of Slovenia’s legal, taxation and other regulatory measures in housing compared to Japanese participants. Considering that legislation represents the Slovenian government’s primary influence over the real estate market, the expectations of the participants in our survey show that Slovenian buyers’ confidence should be increased in this area.

  16. Savings and mortgage system with state participation as a form of increasing the affordability of real estate purchase

    Directory of Open Access Journals (Sweden)

    Victor Anatolevich Sirotkin

    2012-09-01

    Full Text Available With the continuous increase in the cost of real estate caused by its shortage, of great importance become solution schemes aimed to provide housing for the broad strata of population. Basing on the analyzed foreign and domestic experience in providing real estate for the citizens, two main ways to acquire it were identified. For the assessment of the preference of each of these methods for the citizens, calculations showing the profitability of the accumulation of funds were performed. Basing on thethesis above, a model with statefunding was proposed, allowing thefuture owner to live in an apartment from the date of the contract with the state finance and investment corporation and to reduce the overpayment for the acquired real estate compared to a mortgage, almost at 100% of the purchase price. The paper concludes that to address housing problems, the management of public authorities need to use different models and mechanisms to ensure quality of living conditions for the maximum number of citizens.

  17. 12 CFR 32.7 - Residential real estate loans, small business loans, and small farm loans.

    Science.gov (United States)

    2010-01-01

    ... concerns about credit quality, undue concentrations in the bank's portfolio of residential real estate, small business, or small farm loans, or concerns about the bank's overall credit risk management systems...

  18. The Effect of Macroeconomic Factors on Stock Prices of Swiss Real Estate Companies

    Directory of Open Access Journals (Sweden)

    Marie Ligocká

    2016-01-01

    Full Text Available Stock values of companies listed on stock exchanges could be influenced by many factors. The aim of this article is to examine existence and character of relationship between stock prices of selected Swiss real estate companies and macroeconomic fundamentals (GDP, interest rate, price level. The existence of long-run equilibrium relationship between stock prices and macroeconomic fundamentals is tested with the Johansen cointegration. The short run dynamics between the variables is examined by Vector Error Correction modelling and the Granger causality test. During the period 2005 – 2014 we revealed a long‑run equilibrium for five of the six analyzed stocks. We also confirmed that macroeconomic variables and the interest rate in particular, can explain a long-run behavior of stock prices. By contrast, macroeconomic variables are usually short in explanation of short‑run dynamics of stock prices. However, the results differ substantially among the stocks and, hence, they prevent us from drawing any general conclusion for the entire real estate sector in Switzerland.

  19. Real estate market and building energy performance: Data for a mass appraisal approach.

    Science.gov (United States)

    Bonifaci, Pietro; Copiello, Sergio

    2015-12-01

    Mass appraisal is widely considered an advanced frontier in the real estate valuation field. Performing mass appraisal entails the need to get access to base information conveyed by a large amount of transactions, such as prices and property features. Due to the lack of transparency of many Italian real estate market segments, our survey has been addressed to gather data from residential property advertisements. The dataset specifically focuses on property offer prices and dwelling energy efficiency. The latter refers to the label expressed and exhibited by the energy performance certificate. Moreover, data are georeferenced with the highest possible accuracy: at the neighborhood level for a 76.8% of cases, at street or building number level for the remaining 23.2%. Data are related to the analysis performed in Bonifaci and Copiello [1], about the relationship between house prices and building energy performance, that is to say, the willingness to pay in order to benefit from more efficient dwellings.

  20. An empirical study of real estate stock return behavior on the Nordic markets : – A 2003-2013 study

    OpenAIRE

    Mäki, David; Lundström, Martin

    2013-01-01

    The financial crisis has made the stock markets a very turbulent place. Investors have therefore begun searching for stable and profitable investments. Nordic real estate has for decades steadily increased in value and the stocks of real estate companies are said to be less risky than the market. This has led to a view of them being a safe haven for risk adverse investors. Very few empirical studies have been done on how these supposedly safe stocks actually behave in the Nordic countries. Th...

  1. THE REAL ESTATE INVESTMENTS AND THE FINANCIAL CRISIS IN ROMANIA

    OpenAIRE

    Ana POPA; Laura GIURCA VASILESCU

    2009-01-01

    This paper is based on a wide range of researches and statistics data, regarding the enormous stock real estate boom that started around 1982 and picked up incredible speed after 1995. First of all, many economists argue that this boom represents a speculative bubble, because it is not grounded in sensible economic fundamentals. Secondly, this boom must be placed it in the context of financial crisis starting in 2007. In fact, the global financial crisis has begun with the north-American subp...

  2. Historic town centre management - The real estate industry

    Directory of Open Access Journals (Sweden)

    Ciubotaru Mihai

    2018-01-01

    Full Text Available In modern times, many of the socio-economic aspects of our lives (beside the classical understanding of the term industry “evolved(?” into industries: music, arts in general, sports, education, health....have become professionally managed industries. Historical town centres provide goods and services and, in this context, can be regarded as industries, as a whole. All the elements of an industry can be identified in these complex “places”: provision of goods and services, human resources issues, technology, marketing, regulatory and legal aspects, management...all of which pointing towards an approach that needs to be looked at as such. The most important industry in hist oric town centres is the real estate industry.

  3. 3D Weight Matrices in Modeling Real Estate Prices

    Science.gov (United States)

    Mimis, A.

    2016-10-01

    Central role in spatial econometric models of real estate data has the definition of the weight matrix by which we capture the spatial dependence between the observations. The weight matrices presented in literature so far, treats space in a two dimensional manner leaving out the effect of the third dimension or in our case the difference in height where the property resides. To overcome this, we propose a new definition of the weight matrix including the third dimensional effect by using the Hadamard product. The results illustrated that the level effect can be absorbed into the new weight matrix.

  4. Masalah Permukiman Kota: Permukiman Kumuh, Perumnas, dan Real Estate

    Directory of Open Access Journals (Sweden)

    S Sudaryono

    2004-01-01

    Full Text Available Perumahan sebagai salah satu komponen infrstruktur akan menjadi tema yang sangat penting dalam kerangka baik isue global maupun nasional, terutama dalam kaitannya dengan pembangunan industri pada kota-kota di Indonesia di masa datang. Studi ini akan membahas permasalahan dari tiga tipe deliveri perumahan di Indonesia yang cukup menonjol yakni: 1 pemukiman kumuh, 2 perumnas, dan 3 real estate. Secara singkat dapat dikatakan bahwa munculny pemukiman kumuh di kota-kota di Indonesia dan negara-negara berkembang pada umumnya adalah berakar pada gagapnya kota-kota tersebut dalam menyiasati gelombang global industrialisasi yang dibawa oleh revolusi industri.

  5. An overview of steps and tools for the corporate real estate strategy alignment process

    NARCIS (Netherlands)

    Appel - Meulenbroek, H.A.J.A.; Haynes, B.

    2014-01-01

    Strategic thinking is a continuous process, alternating between thinking, planning and evaluating. Corporate real estate management (CREM) practitioners need to align their strategy and activities with corporate strategy during the entire process that the organisation goes through. Along the way,

  6. Participatory urban renewal

    Directory of Open Access Journals (Sweden)

    Drago Kos

    2005-01-01

    Full Text Available The article consists of two parts. The first deals with the theoretical framework of urban rehabilitation. Literature provides the basis for a conclusion, which is that the key issue in rehabilitation projects is legitimate negotiation of various interests between participating individuals and institutions. In the second part this presentation and analyses of events that took place at the urban design workshop organised within the framework of the research project Renewal of housing estates in Ljubljana, provide experiential confirmation of the starting thesis. We established that the directly involved residents were willing to actively participate in rehabilitation procedures, however the process is never triggered, because of insufficient capacities in institutional frameworks. In conclusion several real proposals are shown, namely, how to surmount obstacles in urban rehabilitation and especially in larger housing estates built after World War 2.

  7. The incorporation of sustainability into the real estate investment portfolio

    Energy Technology Data Exchange (ETDEWEB)

    Baas, L.

    2013-06-15

    This graduation report describes the findings of a research in the area of Real Estate Management, section Building Economics. The subject of the research relates to the added value of sustainable offices in the real estate investment portfolio. The question which is leading throughout this report is whether the extent of sustainability influences the financial performance of office buildings in the Netherlands. But on which grounds are these assumptions made? The gathered information compares actual energy consumption in relation to theoretical knowledge of a governmental regulated energy performance scheme. To find an accurate answer a quantitative research has been conducted at a sustainability-driven organization, the Dutch Green Building Council (in short: DGBC). An extensive literature review provided the author with a solid background to investigate the relation of financial performance compared to sustainability features. This knowledge enabled him to define a hedonic pricing model and thus to look into financial benefits of better performing assets. This model is used to highlight significant locational, asset-related and sustainable features that act as predictors for offices. Especially the degree of sustainability comes to mind when this data is compared with actual consumption instead of theoretically defined through a standardized calculation. This resulted into recommendations and eventually discussions gathered at the end of this report. This report aims not only on the change of one's mind about the importance of sustainability but also on the added value of information flows for operational management.

  8. 房地产项目融资风险评价分析%Analysis of Real Estate Project Financing Risk Evaluation

    Institute of Scientific and Technical Information of China (English)

    王军; 杨光

    2016-01-01

    项目融资作为一种重要的国际金融工具应用于商业房地产领域,是一种全新的探索.随着我国经济体质改革的不断发展和深入,我国房地产行业不断发展,已经逐渐成为我国经济发展的重要支柱之一,也越来越受到国内外的关注.目前,我国房地产项目融资方式众多,但仍然存在许多融资风险问题.这些风险可能最后导致整个项目的失败,给我国经济带来很大损失.房地产项目融资风险大且复杂,但是可以通过对房地产项目融资风险进行总结,并建立模糊评价模型进行风险分析.运用模糊综合评价方法对商业房地产项目融资风险进行评价是一个多目标、多层次、结构复杂和因素众多的大系统,能够对房地产项目融资风险做一个很好的诠释和解析,作为房地产项目选择融资方案的重要依据,可为房地产项目融资减少不必要的损失.%The project financing was a kind of important international financial tools,used in commercial real estate field,and was a kind of brand-new exploration.With the continuous development and deepening of economic restructuring,the develop-ment of China's real estate industry gradually became an important pillar of China's economic development,and was paid close attention by domestic and foreign personnel.Currently,there were many financing ways of the real estate project,but there were still many problems in financing risks which finally led to the entire project failure and brought great loss to China's economy.The real estate project financing risks were large and complex,but the fuzzy evaluation model could be established to analyze the risks through the summary on the financing risk of real estate project.The use of It was a large system of a multi-objective,multi-level,complex structure and factors to use fuzzy comprehensive evaluation method to evaluate the financing risk of commercial real estate project,and the system could do a very

  9. Conceptual design of a high real-estate gradient cavity for a SRF ERL

    International Nuclear Information System (INIS)

    Xu, Chen; Stony Brook University, NY; Ben-Zvi, Ilan; Stony Brook University, NY; Hao, Yue

    2017-01-01

    The term “real-estate gradient” is used to describe the energy gain provided by an accelerating structure per actual length it takes in the accelerator. given that the length of the tunnel available for the accelerator is constrained, the real-estate gradient is an important measure of the efficiency of a given accelerator structure. When designing an accelerating cavity to be efficient in this sense, the unwanted Higher Order Mode (HOM) fields should be reduced by suitable HOM dampers. This is a particularly important consideration for high current operation. The additional RF components might take longitude space and reduce the total accelerating efficiency. We describe a new high efficiency 5-cell cavity with the dampers included. The total length of the cavity is reduced by 13% as compared to a more conventional design without compromising the cavity fundamental-mode performance. In addition, the HOM impedance is reduced for a higher Beam-Break-Up (BBU) threshold of operating current. In this article, we consider an example, a possible application at the eRHIC Energy Recovery Linac (ERL).

  10. Conceptual design of a high real-estate gradient cavity for a SRF ERL

    Science.gov (United States)

    Xu, Chen; Ben-Zvi, Ilan; Hao, Yue; Xin, Tianmu; Wang, Haipeng

    2017-10-01

    The term "real-estate gradient" is used to describe the energy gain provided by an accelerating structure per actual length it takes in the accelerator. given that the length of the tunnel available for the accelerator is constrained, the real-estate gradient is an important measure of the efficiency of a given accelerator structure. When designing an accelerating cavity to be efficient in this sense, the unwanted Higher Order Mode (HOM) fields should be reduced by suitable HOM dampers. This is a particularly important consideration for high current operation. The additional RF components might take longitude space and reduce the total accelerating efficiency. We describe a new high efficiency 5-cell cavity with the dampers included. The total length of the cavity is reduced by 13% as compared to a more conventional design without compromising the cavity fundamental-mode performance. In addition, the HOM impedance is reduced for a higher Beam-Break-Up (BBU) threshold of operating current. In this paper, we consider an example, a possible application at the eRHIC Energy Recovery Linac (ERL).

  11. Monetary Policy and Real Estate Prices: A Disaggregated Analysis for Switzerland

    OpenAIRE

    Berlemann, Michael; Freese, Julia

    2010-01-01

    Most empirical studies found that monetary policy has a significant effect on house prices while stock markets remain unaffected by interest rate shocks. In this paper we conduct a more detailed analysis by studying various sub-segments of the real estate market. Em-ploying a new dataset for Switzerland we estimate vector autoregressive models and find substitution effects between house and apartment prices on the one hand and rental prices on the other. Interestingly enough, commercial prope...

  12. Investment Risk in the Context of Price Changes on the Real Estate and Stock Markets

    Directory of Open Access Journals (Sweden)

    Wolski Rafał

    2016-03-01

    Full Text Available The residential real estate market is thought to show a tendency for wide fluctuations in prices, as a result of which price bubbles appear. This element of risk has a direct bearing on investors interested in speculation and those seeking to meet their housing needs. Wide fluctuations in the values of real estate affect the investors’ financial situation in many ways, by determining the possibility of meeting one’s housing needs, reducing or sometimes raising creditworthiness, and by increasing investment risk measured by volatility. Omitting the obvious social dimension of the residential real estate market and concentrating on its financial aspects, the author of the article analyses to what degree wide swings in prices can be recognized as specific to this market. To this end, the volatility of prices in the stock market and in the secondary housing market in Poland is compared. An analysis is performed to establish which of them has higher average volatility measures or rates of return, i.e. which of them is more profitable or secure for investors. Statistical tests are used to find out whether average rates of return or measures of risk are equal or different between the two markets. The results of the research show that the secondary housing market and the stock market differ concerning cumulative average rates of return and standard deviations. In the first of them, they are respectively higher and lower.

  13. Growing the Greater Campus: The Use of Institutionally Related Foundations in Real Estate Activities

    Science.gov (United States)

    Sullivan, Kevin G.; Malone, Jason B.

    2015-01-01

    Public colleges and universities have long turned to institutionally related foundations ("IRFs") to raise private support and manage endowments and other financial assets. From the start, however, IRFs have also served as vehicles enabling public institutions to engage in real estate transactions and related entrepreneurial ventures…

  14. 12 CFR Appendix A to Subpart D of... - Interagency Guidelines for Real Estate Lending

    Science.gov (United States)

    2010-01-01

    ... board of directors. Real estate lending is an integral part of many institutions' business plans and... both internal and external factors in the formulation of its loan policies and strategic plan. Factors... institution's board of directors. (See additional reporting requirements described under “Exceptions to the...

  15. STOCHASTIC PRICING MODEL FOR THE REAL ESTATE MARKET: FORMATION OF LOG-NORMAL GENERAL POPULATION

    Directory of Open Access Journals (Sweden)

    Oleg V. Rusakov

    2015-01-01

    Full Text Available We construct a stochastic model of real estate pricing. The method of the pricing construction is based on a sequential comparison of the supply prices. We proof that under standard assumptions imposed upon the comparison coefficients there exists an unique non-degenerated limit in distribution and this limit has the lognormal law of distribution. The accordance of empirical distributions of prices to thetheoretically obtained log-normal distribution we verify by numerous statistical data of real estate prices from Saint-Petersburg (Russia. For establishing this accordance we essentially apply the efficient and sensitive test of fit of Kolmogorov-Smirnov. Basing on “The Russian Federal Estimation Standard N2”, we conclude that the most probable price, i.e. mode of distribution, is correctly and uniquely defined under the log-normal approximation. Since the mean value of log-normal distribution exceeds the mode - most probable value, it follows that the prices valued by the mathematical expectation are systematically overstated.

  16. Specificity of high-rise construction and real estate markets in the regional economy: an analysis of Russian practice (example of St. Petersburg)

    Science.gov (United States)

    Vilken, Viktoriya; Kalinina, Olga; Dubgorn, Alissa

    2018-03-01

    In paper features of the regional markets of construction the commercial and residential real estate on the example of St. Petersburg are defined. The current situation is analysed, the specific features of branch are revealed. The major factors influencing investors making decisions on construction of various types of objects are defined. The main methods of advance of real estate objects are considered.

  17. The urban development in Dubai : A descriptive analysis

    OpenAIRE

    Fazal, Fatema

    2008-01-01

      The aim of this paper is to analyse the urban development in Dubai by means of the fourquadrant model, presented by DiPasquale and Wheaton, which represents the market for real estate use and assets. The focus is on factors such as economic growth, access to oil, population growth and the incentive of the government to promote developments in Dubai, to study how they affect the real estate market. It is observed how all these factors contribute to the expansion of the construction sector an...

  18. A LOW-COST AND LIGHTWEIGHT 3D INTERACTIVE REAL ESTATE-PURPOSED INDOOR VIRTUAL REALITY APPLICATION

    Directory of Open Access Journals (Sweden)

    K. Ozacar

    2017-11-01

    Full Text Available Interactive 3D architectural indoor design have been more popular after it benefited from Virtual Reality (VR technologies. VR brings computer-generated 3D content to real life scale and enable users to observe immersive indoor environments so that users can directly modify it. This opportunity enables buyers to purchase a property off-the-plan cheaper through virtual models. Instead of showing property through 2D plan or renders, this visualized interior architecture of an on-sale unbuilt property is demonstrated beforehand so that the investors have an impression as if they were in the physical building. However, current applications either use highly resource consuming software, or are non-interactive, or requires specialist to create such environments. In this study, we have created a real-estate purposed low-cost high quality fully interactive VR application that provides a realistic interior architecture of the property by using free and lightweight software: Sweet Home 3D and Unity. A preliminary study showed that participants generally liked proposed real estate-purposed VR application, and it satisfied the expectation of the property buyers.

  19. a Low-Cost and Lightweight 3d Interactive Real Estate-Purposed Indoor Virtual Reality Application

    Science.gov (United States)

    Ozacar, K.; Ortakci, Y.; Kahraman, I.; Durgut, R.; Karas, I. R.

    2017-11-01

    Interactive 3D architectural indoor design have been more popular after it benefited from Virtual Reality (VR) technologies. VR brings computer-generated 3D content to real life scale and enable users to observe immersive indoor environments so that users can directly modify it. This opportunity enables buyers to purchase a property off-the-plan cheaper through virtual models. Instead of showing property through 2D plan or renders, this visualized interior architecture of an on-sale unbuilt property is demonstrated beforehand so that the investors have an impression as if they were in the physical building. However, current applications either use highly resource consuming software, or are non-interactive, or requires specialist to create such environments. In this study, we have created a real-estate purposed low-cost high quality fully interactive VR application that provides a realistic interior architecture of the property by using free and lightweight software: Sweet Home 3D and Unity. A preliminary study showed that participants generally liked proposed real estate-purposed VR application, and it satisfied the expectation of the property buyers.

  20. Developing a Web-based system by integrating VGI and SDI for real estate management and marketing

    Directory of Open Access Journals (Sweden)

    J. Salajegheh

    2014-10-01

    Full Text Available Property importance of various aspects, especially the impact on various sectors of the economy and the country's macroeconomic is clear. Because of the real, multi-dimensional and heterogeneous nature of housing as a commodity, the lack of an integrated system includes comprehensive information of property, the lack of awareness of some actors in this field about comprehensive information about property and the lack of clear and comprehensive rules and regulations for the trading and pricing, several problems arise for the people involved in this field. In this research implementation of a crowd-sourced Web-based real estate support system is desired. Creating a Spatial Data Infrastructure (SDI in this system for collecting, updating and integrating all official data about property is also desired in this study. In this system a Web2.0 broker and technologies such as Web services and service composition has been used. This work aims to provide comprehensive and diverse information about property from different sources. For this purpose five-level real estate support system architecture is used. PostgreSql DBMS is used to implement the desired system. Geoserver software is also used as map server and reference implementation of OGC (Open Geospatial Consortium standards. And Apache server is used to run web pages and user interfaces. Integration introduced methods and technologies provide a proper environment for various users to use the system and share their information. This goal is only achieved by cooperation between all involved organizations in real estate with implementation their required infrastructures in interoperability Web services format.

  1. Developing a Web-based system by integrating VGI and SDI for real estate management and marketing

    Science.gov (United States)

    Salajegheh, J.; Hakimpour, F.; Esmaeily, A.

    2014-10-01

    Property importance of various aspects, especially the impact on various sectors of the economy and the country's macroeconomic is clear. Because of the real, multi-dimensional and heterogeneous nature of housing as a commodity, the lack of an integrated system includes comprehensive information of property, the lack of awareness of some actors in this field about comprehensive information about property and the lack of clear and comprehensive rules and regulations for the trading and pricing, several problems arise for the people involved in this field. In this research implementation of a crowd-sourced Web-based real estate support system is desired. Creating a Spatial Data Infrastructure (SDI) in this system for collecting, updating and integrating all official data about property is also desired in this study. In this system a Web2.0 broker and technologies such as Web services and service composition has been used. This work aims to provide comprehensive and diverse information about property from different sources. For this purpose five-level real estate support system architecture is used. PostgreSql DBMS is used to implement the desired system. Geoserver software is also used as map server and reference implementation of OGC (Open Geospatial Consortium) standards. And Apache server is used to run web pages and user interfaces. Integration introduced methods and technologies provide a proper environment for various users to use the system and share their information. This goal is only achieved by cooperation between all involved organizations in real estate with implementation their required infrastructures in interoperability Web services format.

  2. Market Mechanism Choice and Real Estate Disposition: Negotiated Sale Versus Action

    OpenAIRE

    Gau, George W.; Quan, Daniel C.

    1992-01-01

    In this paper, we propose a model of mechanism choice in the disposition of real estate assets. Specifically, we consider two alernatives: a search or negotiated sale and auction. Within the search framework, we derive an equilibrium whereby buyers incur costly search and sellers must incur holding cost for the period the property is not sold. In the auction alternative, the seller joins an existing pool of other sellers in undertaking a sequntial multiple-object auction. Buyers and sellers f...

  3. ISHO Real Estate Regenerating Timişoara. The non-metropolitan city of Timişoara elected as European Capital of Culture for 2021

    Directory of Open Access Journals (Sweden)

    Vlad A. Gaivoronschi

    2017-06-01

    Full Text Available Timisoara is a major city situated in western Romania. In 2021, it will be European Capital of Culture. The city evolved around a fortified citadel surrounded by satellite settlements. After the demolition of the fortification (the XIXth century a consistent urban tissue developed between the core and satellites. During the years, our office produced projects situated in these intermediate areas, developing an ”urban landscape” perspective, managing to attribute to the interventions a connecting role between the existing landmarks and poles; an important role was given to the ”modelling” of the volumes in order  to open vistas and visual cones, as well as to the choice of forms and textures in order to ”stitch” the existing fabric and to offer a new reading of the city. We have selected one project in order to illustrate the methodology: the ”ISHO” Real Estate development.

  4. Assessing the Impact of Urban Improvement on Housing Values: A Hedonic Pricing and Multi-Attribute Analysis Model for the Historic Centre of Venice

    Directory of Open Access Journals (Sweden)

    Paolo Rosato

    2017-11-01

    Full Text Available The Hedonic Pricing Method is one of the principal assessment methods for evaluating services and resources not normally exchanged on the market. However, the method is often unable to account for the great variety of qualities in an urban context and faces scarce and heterogeneous market data. This paper presents a model for the valuation of benefits generated by environmental and urban improvement investments adopting a mixed hedonic-multi-attribute procedure for modeling a value function of urban real estate values. The peculiarity of the model is that the independent variables are aggregated indicators, which synthetize more detailed characteristics. Using the expertise of real estate agents, all relevant variables influencing real estate values were weighted and synthetized in a set of cardinal indicators. Next, market prices were used to calibrate a hedonic function that transforms the cardinal indicators into real estate values. The valuation model was integrated into a GIS for mapping the housing value, and its variation induced by urban investment. The proposed model pointed out plausible and robust results, in particular, the possibility to use any available information, such as location, position, technical and economic characteristics of buildings, and organize it in a flexible and transparent way, and to keep evident the role of each characteristic through the hierarchical structure of the model. The model was applied to the real estate market of Venice to test the effects of the MOSE project (Electromechanical Experimental Module for the protection of Venice from high tides. The results of the application showed a relevant increase in real estate values in the center of Venice, especially related to property in ground floor units, of about 1.4 billion €.

  5. EVALUATION OF LAND BASED ON MARKET PRICE OBJECTS OF REAL ESTATE IN UKRAINE: PROBLEMS AND WAYS OF THEIR SOLUTIONS

    Directory of Open Access Journals (Sweden)

    MARTYN А. G.

    2017-03-01

    Full Text Available Summary. Raising of problem. During the reform of land and property relations, has been carried out in Ukraine since the early 1990s, land plots and buildings received the status of goods, participate in economic turnover, have value and price. At the same time, not the most important prerequisite for the introduction in Ukraine of a mass valuation of real estate, which is intended to become a base for the fair taxation of land plots and other real estate, should be the systematic collection of mass data on the market prices of real estate. Constant changes, additions and improvements to the current normative monetary assessment of land do not give a real change in the methodology of assessment because it is based on regulatory indicators, there is a non-market based assessment. This approach does not give positive results and in the overwhelming majority we distort the evaluation indicators. As a result, there is a situation where in some places the price of a square meter is much lower than the market (real price, while in others it is much higher than the actual price. Thus, the transition to the use of monetary land valuation, which is based on mass market indicators (mass valuation, will get rid of the regulatory indicators by introducing a market valuation base. Purpose. Conduct an analysis of the current state of monetary valuation of land in Ukraine, form the main problems of the modern land assessment area and guide the ways to improve and transition to market valuation of land based on widespread use of mass data on market prices of real estate. Conclusion. The analysis of the current state of the monetary valuation of land shows a significant deviation of the evaluation results with real market prices, indicating the imperfection of the existing method of normative monetary evaluation. Mass evaluation in the short term can solve the problems with the reliability of the estimates and improve the system of land taxation.

  6. Is Dual Agency in Real Estate Transactions a Cause for Concern?

    OpenAIRE

    Vrinda Kadiyali; Jeffrey T. Prince; Daniel H. Simon

    2009-01-01

    We study dual agency in residential real estate, where the same agent/agency represents both the buyer and seller. We assess the extent to which dual agency suffers from an inherent conflict of interest, where the dual agent furthers the interest of one client at the expense of the other client’s, as well as principal-agent incentive misalignment where the agent furthers her own interest at the expense of one or both clients. And, we examine how these incentive conflicts affect agent behavior...

  7. REIT Performance and Option of Financing Real Estate Project in Developing Countries - (A Case of M-REIT and NREIT

    Directory of Open Access Journals (Sweden)

    Olaopin Olanrele Olusegun

    2014-01-01

    Full Text Available Performance of REITs have been largely measured using benchmark from the stock market indices (S&P500, Sharpe ratio, KLCI, etc or correlation studies. The real world of REIT shows that both economic and environmental factors exert influence on REIT performance on a simultaneous nature. Adopting quantitative method, where secondary data were statistically analysed. We proposed the use of multivariate regression where REIT performance (Y is the independent variable to be predicted by predictor variables of internal and external factors (X1–Xn. We equally proposed a possibility of REIT financing real estate project, against the existing regulations which prohibit such, using average return method of portfolio analysis on assumed numerical data. The study finds that economic factors jointly have a significant effect on REIT performance at P =0.044 while none of the factors has significant contribution individually. A benchmark REIT return of 5.3% is predicted. The study recommends a linear regression model analysis for REITs benchmark based on past performance for return measurement. REIT can only finance real estate project in the countries where there is acute shortage of fund and property stock. We suggest a modification of REIT laws to accommodate real estate financing by REITs.

  8. A multilevel investigation of motivational cultural intelligence, organizational diversity climate, and cultural sales: evidence from U.S. real estate firms.

    Science.gov (United States)

    Chen, Xiao-Ping; Liu, Dong; Portnoy, Rebecca

    2012-01-01

    Adopting a multilevel theoretical framework, the authors examined how motivational cultural intelligence influences individual cultural sales--the number of housing transactions occurring between people of different cultural origins. Data from 305 real estate agents employed at 26 real estate firms in the United States demonstrated that an individual's motivational cultural intelligence is positively related to his or her cultural sales. This positive relationship is enhanced by the firm's motivational cultural intelligence and diversity climate. The authors discuss the theoretical and practical implications of their findings in a workplace context that involves cross-cultural interpersonal interactions.

  9. The Availability of Residential Real Estate Increasing by Means of State Compensation of Prices

    Directory of Open Access Journals (Sweden)

    Vitaly Viktorovich Ivanitskiy

    2015-12-01

    Full Text Available The article analyzes the influence of natural monopolies on the value of residential property, discusses the basic energy resources affecting it. Oil is defined as the main energy resource, its main brands, and their features are considered. The different authors’ perspectives of the impact of oil prices on the real estate prices are considered (“no effect”, “direct effect” and “indirect effect”. Schemes (models, clearly demonstrating the cause-and-effect relations of the impact of prices of the main energy resources on each other and on the value of residential property, are provided. The stability of relations between the prices of the major energy recourses (between each other as well as between each resource and real estate prices and residential property prices in the primary market are analyzed. The interval of “crisis” and “crisis-free” time is defined. The impact of the energy in “crisis” and “crisis-free” time is analyzed. The impact of oil prices on the residential property prices is proved through the cement as the main price-determining element in the construction. The introduction of the state target compensation allowing to increase the availability of residential property is proposed as one of the elements of a comprehensive solution of the “housing question”. The size of the state target compensation in absolute (in rubles and relative (% prices for residential real estate values is determined, taking into account the sufficient reproduction of the population, and restrictions on the right to use it are introduced. The total value of the state target compensation per total number of homebuyers is calculated, and its share in the expenditures of the consolidated budget and budgets of state extra-budgetary funds is determined. The realization of the state target compensation based on an average annual growth among the major countries of the world is grounded.

  10. ANALISIS RASIO ALTMAN MODIFIKASI PADA PREDIKSI KEBANGKRUTAN PERUSAHAAN PROPERTY DAN REAL ESTATE YANG TERDAFTAR DI BEI

    Directory of Open Access Journals (Sweden)

    Anita Tri Widiyawati

    2015-10-01

    Full Text Available Penelitian ini bertujuan untuk mengetahui pengaruh rasio Altman Modifikasi terhadap prediksi kebangkrutan. Jenis penelitian ini termasuk penelitian kuantitatif. Populasi dalam penelitian ini adalah perusahaan property dan real estate yang terdaftar di BEI. Teknik pengambilan sampel menggunakan purposive sampling sehingga diperoleh sampel sejumlah 32 perusahaan property dan real estate yang menerbitkan laporan keuangannya selama tahun 2011-2013. Teknik analisis data menggunakan regresi logistik (logistic regression. Hasil penelitian menunjukkan bahwa: (1 working capital/total asset tidak berpengaruh terhadap prediksi kebangkrutan; (2 retained earning/total asset tidak berpengaruh terhadap prediksi kebangkrutan; (3 earning before interest and tax/total asset berpengaruh terhadap prediksi kebangkrutan; (4 market value of equity/book value of equity tidak berpengaruh terhadap prediksi kebangkrutan; (5 rasio Altman Modifikasi secara simultan berpengaruh terhadap prediksi kebangkrutan. Rasio Altman Modifikasi terbukti secara bersama-sama dapat digunakan untuk memprediksi kebangkrutan.

  11. Heterogeneous Investors, Negotiation Strength & Asset Prices in Private Markets: Evidence from Commercial Real Estate

    Directory of Open Access Journals (Sweden)

    David C. Ling

    2013-08-01

    Full Text Available We examine the impact of heterogeneous investors with asymmetric bargaining positions on transaction prices in private commercial real estate markets. Using a dataset that contains nearly 100,000 commercial real estate transactions during 1997-2009, we examine the extent to which common conditions of sale and buyer characteristics affect bargaining power and negotiated prices. We find that tax-motivated buyers seeking to complete a delayed Section 1031 exchange pay an average price premium of 12.5% when purchasing smaller properties. However, these price premiums for exchange motivated buyers are not observed among more expensive properties. We find strong evidence that out-of-state buyers pay significantly more (8 - 11% premium for commercial properties than in-state buyers. Consistent with our expectations, we find that sellers of distressed properties negotiate significantly lower transaction prices (13 - 15% discount than sellers of non-distressed properties, all else equal. Finally, we find evidence that REITs pay price premiums between 14 - 16% for office and industrial and retail properties. Our results strongly support the notion that relative bargaining power influences negotiated transaction prices.

  12. The Role of Real Estate in Sustainable Development in Developing Countries: The Case of the Kingdom of Bahrain

    Directory of Open Access Journals (Sweden)

    Yusra Mouzughi

    2014-04-01

    Full Text Available The construction of real estate has the potential to advance sustainability in terms of meeting economic and social criteria—the Business Case and the Societal Case. This is a crucial aspect in the stated visions and plans in many developing countries. Hence, it is important to understand how real estate can best contribute. Semi-structured interviews with a number of decision-makers involved in the real estate sector in the Kingdom of Bahrain were undertaken to explore perceptions of how the sector could best contribute to sustainable development. The decision-makers came from government bodies, investment banks, real estate developers, investors, constructors, project consultants and auditors. The interviews highlight the importance of having a stated vision and strategy which is highly visible and shared by all stakeholders. In the case of Bahrain this is Vision 2030 and the National Economic Strategy. It is important to ensure that any plans that are put in place to achieve the vision/strategy are adaptable to reflect changes in the external environment. The decision-makers identified three areas of focus in terms of the content of policy in order to meet the economic and social-related sustainability criteria as set out in Vision 2030 and the National Economic Strategy. These are: infrastructure, affordable housing and tourism/leisure. Within these three areas, that of infrastructure is also the key enabler for developments in the other two areas to be realized. In terms of a method of governance, the use of public-private-partnerships (PPPs was identified as being highly appropriate. Such partnerships are not only useful to leverage private sector investment into specific development projects but also to ensure that such development harnesses innovative and efficient methods.

  13. Market Efficiency, Uncertainty And Risk Management in Real Estate Valuation – How Hedonics May Help

    Directory of Open Access Journals (Sweden)

    François Des Rosiers

    2013-08-01

    Full Text Available The 2007-2008 subprime mortgage crisis has profoundly modified the way investment and management risks are perceived by economic agents. In particular, both private and institutional players in the property sector are now being compelled to follow more stringent rules and to display greater transparency in their management of risk issues and of lending practices. In that context, analytical tools based on statistics and econometric modelling are increasingly resorted to as risk-containment devices. The purpose of the paper is to look at how real estate appraisal practitioners and related professionals may benefit from a greater recourse to statistics and, more precisely, to econometric modelling, in their search for market value. As brought out in the real estate literature, the very definition of market value lends itself to a statistical approach, the latter reaching its full meaning with the hedonic price (HP method which is shown to be an extension of the traditional sales comparison approach.

  14. Do Urban Rail Transit Facilities Affect Housing Prices? Evidence from China

    Directory of Open Access Journals (Sweden)

    Xu Zhang

    2016-04-01

    Full Text Available Urban rail transit facilities play a critical role in citizen’s social activities (e.g., residence, work and education. Using panel data on housing prices and urban rail transit facilities for 35 Chinese cities for 2002 to 2013, this study constructs a panel data model to evaluate the effect of rail transit facilities on housing prices quantitatively. A correlation test reveals significant correlations between housing prices and rail transit facilities. Empirical results demonstrate that rail transit facilities can markedly elevate real estate prices. Quantitatively, a 1% increase in rail transit mileage improves housing prices by 0.0233%. The results highlight the importance of other factors (e.g., per capita GDP, land price, investment in real estate and population density in determining housing prices. We also assess the effects of expectations of new rail transit lines on housing prices, and the results show that expectation effects are insignificant. These findings encourage Chinese policy makers to take rail transit facilities into account in achieving sustainable development of real estate markets.

  15. What role does the real estate–construction sector play in China's regional economy?

    NARCIS (Netherlands)

    Ren, Honghao; Folmer, Henk; van der Vlist, Arno J.

    2014-01-01

    Urbanization, industrialization and real estate reform have led to a vast growth of the real estate–construction sector in China. Using the 2002 and 2007 provincial input–output tables, this paper examines the importance of the real estate–construction sector in the Chinese economy by applying the

  16. Institutional conditions for sustainable private sector-led urban development projects : A conceptual model

    NARCIS (Netherlands)

    Heurkens, E.W.T.M.

    2016-01-01

    Across the globe sustainable private sector-led urban development projects (SPUDPs) in the built environment rarely commence as real estate developers face several institutional barriers which limit their capacity to develop economic-viable, social-responsible, environmental-friendly urban places.

  17. 26 CFR 1.6045-4 - Information reporting on real estate transactions with dates of closing on or after January 1, 1991.

    Science.gov (United States)

    2010-04-01

    ...” includes fee simple interests, life estates, reversions, remainders, and perpetual easements. In addition...) of this section; (ii) A transfer in full or partial satisfaction of any indebtedness secured by the... performs or is licensed to perform real estate brokerage services for a commission or fee. (2) Employees...

  18. Private investment in hospitals: a comparison of three healthcare systems and possible implications for real estate strategies.

    Science.gov (United States)

    van der Zwart, Johan; van der Voordt, Theo; Jonge, Hans de

    2010-01-01

    This article explores lessons to be learned from three different healthcare systems and the possible implications for the management of healthcare real estate, in particular in connection to the Dutch system. It discusses similarities and differences among the different systems, in search of possible consequences on cost, financing, and design innovation. To keep healthcare affordable in the future, the Dutch government is currently in the process of changing legislation to move from a centrally directed system to a so-called regulated market system. The deregulation of real estate investment that accompanies the new healthcare delivery system offers healthcare organizations new opportunities, but also more responsibility and greater risk in return on investment. Consequently, healthcare organizations must find new methods of financing. Private investment is one of the options. Three healthcare systems were analyzed on the basis of a literature review and document analysis, then schematized to show similarities and dissimilarities with regard to private investment in hospitals. Observations are based on a selection of recently published articles on private-sector financing and its implications for healthcare real estate decision making in the Netherlands, the United Kingdom, and Germany. The strengths and weaknesses of three healthcare systems with differing proportions of private and public investment in hospitals were explored. Research revealed a gap between intended effects and actual effects with regard to quality and cost. Costly private finance does not necessarily lead to "value for money." Transferring real estate decisions to private investors decreases the influence of the healthcare organization on future costs and quality. The three healthcare systems show substantial differences between public and private responsibilities. Less governmental involvement affords both opportunities and risks for hospitals. Private investment may lead to innovation

  19. E – urban systems

    Directory of Open Access Journals (Sweden)

    Franc J. Zakrajšek

    2000-01-01

    Full Text Available Information and tele-communication technology are increasingly affecting life and employment. According to predictions, more than 80% of all business operations will be carried out electronically through so called e-business. Recently even in Slovenia discussions have begun on “e-government”. Despite desired or undesired control, virtual networks are changing urban systems into e-urban systems. The extent of benefits to the public also depend on planners. The article presents concepts with the signature “e” to describe urban systems, day-to-day life, real-estate and simulation.

  20. PROBLEMS OF BUSINESS MANAGEMENT WITHIN A REAL ESTATE DEVELOPMENT

    Directory of Open Access Journals (Sweden)

    Dmitriy A. Bryksin

    2013-01-01

    Full Text Available This article describes problems of organization management within a real estate development, the analysis of this problems and the methods of its solution based on the Balanced Scorecard. In present unsteady conditions of business development, commercial activity faces a number of problems. The main types are: the problem of lack of funding, the problem of the growth of a company, the company’s management problem, the problem of business processes, and the problem of the decision-making. As a method to solve the problems is proposed an introduction of the balanced scorecard (BSC, which allows accurately feel the slightest changes in the company, deviation from the planned strategies and adjust the direction of the motion during the life of the company.

  1. City Magistrate of Tsaritsyn as the Estates Court for Urban Population 1784-1866

    Directory of Open Access Journals (Sweden)

    Elena V. Bulyulina

    2017-10-01

    Full Text Available At the end of the 18th century in Russia caste system of the judiciary was legalized. For urban and suburban trade and craft population of the Russian Empire estates courts were magistrates. Despite the fact that the activities of magistrates are studied by native historians and legal scholars, regional aspects of the topic are not adequately reflected. This article examines the activities of the Tsaritsyn city magistrate court as an estates court for a merchant and petty-bourgeois population of the city of Tsaritsyn in 1784-1866. In 1775 Ekaterina II carried out a major reform of local government and the court, significantly expanding the functions of local government institutions, and, in fact, restoring estates of municipal government. From that moment in cities the magistrates managed the city, including city magistrates who represented the court of first instance in criminal and civil cases for the urban population – merchants, craftsmen, townspeople. Appeal to the city magistrate was of the Saratov provincial magistrate. Different aspects of his functional features and relations with another official instances are presented. The limits of the jurisdiction of the Tsaritsyn city magistrate was limited to the territory of Tsaritsyn. The objects of the jurisdiction could be only the regular citizens, i.e. assigned to the city, and not the entire population. Implementation of the rule of law, particularly the application of penalties in the material presented in the aspect of not only the all-Russian legal requirements, but also regarding regional social and legal assessments. Tsaritsyn city magistrate heard cases of theft, vandalism, rape, false receipts, and bills of exchange, unauthorized occupation of urban land, abandoned children, the accountability for deviations from the canons of Orthodoxy, committing a schismatic rites, violation of rules of transportation and logging, concealment of recruits, about the insult of the authorities

  2. Is flood risk capitalized into real estate market values? : a Mahalanobis-metric matching approach to housing market in Busan, South Korea

    Science.gov (United States)

    Jung, E.; Yoon, H.

    2016-12-01

    Natural disasters are substantial source of social and economic damage around the globe. The amount of damage is larger when such catastrophe events happen in urbanized areas where the wealth is concentrated. Disasters cause losses in real estate assets, incurring additional cost of repair and maintenance of the properties. For this reason, natural hazard risk such as flooding and landslide is regarded as one of the important determinants of homebuyers' choice and preference. In this research, we aim to reveal whether the past records of flood affect real estate market values in Busan, Korea in 2014, under a hypothesis that homebuyers' perception of natural hazard is reflected on housing values, using the Mahalanobis-metric matching method. Unlike conventionally used hedonic pricing model to estimate capitalization of flood risk into the sales price of properties, the analytical method we adopt here enables inferring causal effects by efficiently controlling for observed/unobserved omitted variable bias. This matching approach pairs each inundated property (treatment variable) with a non-inundated property (control variable) with the closest Mahalanobis distance between them, and comparing their effects on residential property sales price (outcome variable). As a result, we expect price discounts for inundated properties larger than the one for comparable non-inundated properties. This research will be valuable in establishing the mitigation policies of future climate change to relieve the possible negative economic consequences from the disaster by estimating how people perceive and respond to natural hazard. This work was supported by the Korea Environmental Industry and Technology Institute (KEITI) under Grant (No. 2014-001-310007).

  3. THE SOLAR NEIGHBORHOOD XXIX: THE HABITABLE REAL ESTATE OF OUR NEAREST STELLAR NEIGHBORS

    Energy Technology Data Exchange (ETDEWEB)

    Cantrell, Justin R.; Henry, Todd J.; White, Russel J., E-mail: cantrell@chara.gsu.edu, E-mail: thenry@chara.gsu.edu, E-mail: white@chara.gsu.edu [Georgia State University, Atlanta, GA 30302-4106 (United States)

    2013-10-01

    We use the sample of known stars and brown dwarfs within 5 pc of the Sun, supplemented with AFGK stars within 10 pc, to determine which stellar spectral types provide the most habitable real estate—defined as locations where liquid water could be present on Earth-like planets. Stellar temperatures and radii are determined by fitting model spectra to spatially resolved broadband photometric energy distributions for stars in the sample. Using these values, the locations of the habitable zones are calculated using an empirical formula for planetary surface temperature and assuming the condition of liquid water, called here the empirical habitable zone (EHZ). Systems that have dynamically disruptive companions are considered not habitable. We consider companions to be disruptive if the separation ratio of the companion to the habitable zone is less than 5:1. We use the results of these calculations to derive a simple formula for predicting the location of the EHZ for main sequence stars based on V – K color. We consider EHZ widths as more useful measures of the habitable real estate around stars than areas because multiple planets are not expected to orbit stars at identical stellar distances. This EHZ provides a qualitative guide on where to expect the largest population of planets in the habitable zones of main sequence stars. Because of their large numbers and lower frequency of short-period companions, M stars provide more EHZ real estate than other spectral types, possessing 36.5% of the habitable real estate en masse. K stars are second with 21.5%, while A, F, and G stars offer 18.5%, 6.9%, and 16.6%, respectively. Our calculations show that three M dwarfs within 10 pc harbor planets in their EHZs—GJ 581 may have two planets (d with msin i = 6.1 M {sub ⊕}; g with msin i = 3.1 M {sub ⊕}), GJ 667 C has one (c with msin i = 4.5 M {sub ⊕}), and GJ 876 has two (b with msin i = 1.89 M {sub Jup} and c with msin i = 0.56 M {sub Jup}). If Earth-like planets

  4. THE SOLAR NEIGHBORHOOD XXIX: THE HABITABLE REAL ESTATE OF OUR NEAREST STELLAR NEIGHBORS

    International Nuclear Information System (INIS)

    Cantrell, Justin R.; Henry, Todd J.; White, Russel J.

    2013-01-01

    We use the sample of known stars and brown dwarfs within 5 pc of the Sun, supplemented with AFGK stars within 10 pc, to determine which stellar spectral types provide the most habitable real estate—defined as locations where liquid water could be present on Earth-like planets. Stellar temperatures and radii are determined by fitting model spectra to spatially resolved broadband photometric energy distributions for stars in the sample. Using these values, the locations of the habitable zones are calculated using an empirical formula for planetary surface temperature and assuming the condition of liquid water, called here the empirical habitable zone (EHZ). Systems that have dynamically disruptive companions are considered not habitable. We consider companions to be disruptive if the separation ratio of the companion to the habitable zone is less than 5:1. We use the results of these calculations to derive a simple formula for predicting the location of the EHZ for main sequence stars based on V – K color. We consider EHZ widths as more useful measures of the habitable real estate around stars than areas because multiple planets are not expected to orbit stars at identical stellar distances. This EHZ provides a qualitative guide on where to expect the largest population of planets in the habitable zones of main sequence stars. Because of their large numbers and lower frequency of short-period companions, M stars provide more EHZ real estate than other spectral types, possessing 36.5% of the habitable real estate en masse. K stars are second with 21.5%, while A, F, and G stars offer 18.5%, 6.9%, and 16.6%, respectively. Our calculations show that three M dwarfs within 10 pc harbor planets in their EHZs—GJ 581 may have two planets (d with msin i = 6.1 M ⊕ ; g with msin i = 3.1 M ⊕ ), GJ 667 C has one (c with msin i = 4.5 M ⊕ ), and GJ 876 has two (b with msin i = 1.89 M Jup and c with msin i = 0.56 M Jup ). If Earth-like planets are as common around low

  5. Penentuan Struktur Modal Optimal Pada Perusahaan Sektor Properti, Real Estate, dan Kontruksi yang Terdaftar di Bursa Efek Indonesia

    Directory of Open Access Journals (Sweden)

    M. Rustam

    2015-04-01

    Full Text Available The purpose of this study is to determine the optimal capital structure of property, real estate, and construction companies listed in Indonesia Stock Exchange. The motivation of this study is due to the current research results are still not able to answer whether the optimal capital structure exists. Based on trade-off theory, the optimal capital structure occurs when a company has a minimum capital cost. However,  it is not explained how much capital structure needed to achieve the company maximum value. In addition, this sample business sector is chosen because there are a numeours firms with an adequate long-term debt which make it possible to examine their capital structure. The method used are the nonlinear regression and Monte Carlo simulation method. These methods were chosen because the formulation of optimal capital structure is arguably complex. There are 47 samples from all property, real estate, and construction companies. The data set covered 11 years ie (2000-2010. The results showed that the optimal capital structure of properties, real estate and construction companies which are measured by the ratio between the long-term debt and equity is 0.99. Most companies of these sectors have not reached the optimal capital structure yet because the average results from these companies are 0.31.

  6. RPAS ACCURACY TESTING FOR USING IT IN THE CADASTRE OF REAL ESTATES OF THE CZECH REPUBLIC

    Directory of Open Access Journals (Sweden)

    E. Housarová

    2016-06-01

    Full Text Available In the last few years, interest in the collection of data using remotely piloted aircraft systems (RPAS has sharply risen. RPAS technology has a very wide area of use; one of its main advantages is its accuracy, timeliness of data, frequency of collecting data and low operating costs. RPAS can be used for the mapping of small, dangerous and inaccessible areas in contrast with ordinary aerial photogrammetry. In the cadastre of real estates of the Czech Republic, it is possible to map out areas by using aerial photogrammetry, so it has been done in the past. However, this is a relatively expensive and complex technology, and therefore we are looking for new alternatives. An alternative would be to use RPAS technology for data acquisition. The testing of the possibility of using RPAS for the cadastre of real estates of the Czech Republic is the subject of this paper. When evaluating results we compared point coordinates measured by geodetic method, GNSS technology and RPAS technology.

  7. Applications of Real Options in the Real Estate Market Focusing the City of Rio de Janeiro

    Directory of Open Access Journals (Sweden)

    Priscilla Yung Medeiros

    2003-06-01

    Full Text Available An investment opportunity in the real state market can be compared with an option and, because of this analogy, we can make use of the real options theory to determinate not only the best timing to begin a new property development, but also to determine the optimal density to develop in a specific property. To investigate these two main decisions, we are going to base our research on the model developed by Williams (1991 and extend it in a way to include taxes and a discount in the net cash inflow caused by the times spent in the construction process. An empirical analysis of the of the residential real estate market in the city of Rio de Janeiro is going to be developed in a way to verify the compatibility of the theoretical model developed here according to the reality of this market. We found that the extensions proposed to the basic model of Williams (1991 had significant effects in the theoretical model. We could also confirm empirically that the theoretical results are compatible to the reality of this market.

  8. IMPROVING THE SYSTEM OF MORTGAGE CREDITING OF RESIDENTIAL REAL ESTATE IN UKRAINE

    Directory of Open Access Journals (Sweden)

    Alexander Goloven

    2015-11-01

    Full Text Available The purpose of the article is to improve the system of mortgage crediting of residential real estate in Ukraine. Mortgage lending appeared in Ukraine in the early XVII century, today the actual problem is a small percentage of the banking book long-term mortgage loans, because banks, on the one hand, tend to rotate without the risk of short-term funds, another potential borrower of these loans, unfortunately, is not creditworthy. However, despite the risks, this banking product is a significant factor in the redistribution and accumulation of funds, the transformation of private savings into investment resources, the problem of housing, but also contributes to the stabilization of the economy in the country as a whole. Functioning and the distribution of mortgage capital, the possible financial risks, the interaction of the mortgage market by the financial, investment and monetary Affairs, leads to a certain complexity of the mechanism of functioning of the mortgage market of Ukraine in general. The relevance of this topic not only in the development of the housing market, but also the feasibility studies for the development of this issue. We present an analysis of the institutional environment of mortgage lending residential real estate, which gave an opportunity to identify and define the environment of modern residential real estate market, its relationship with other markets. Methodology. The survey is based on institutional structure of the mortgage market that has evolved independently of other structures, independently within country under the influence of specific socio-economic environment and economic policy. Results of the survey showed that mortgage lending can be providing the borrower with some free services, such as: long-term deposit on favorable terms, notary services, insurance, discounts on bank services, providing services to the bank and the developer, given appropriate training of the borrower and so forth. Practical

  9. Real estate value prediction using multivariate regression models

    Science.gov (United States)

    Manjula, R.; Jain, Shubham; Srivastava, Sharad; Rajiv Kher, Pranav

    2017-11-01

    The real estate market is one of the most competitive in terms of pricing and the same tends to vary significantly based on a lot of factors, hence it becomes one of the prime fields to apply the concepts of machine learning to optimize and predict the prices with high accuracy. Therefore in this paper, we present various important features to use while predicting housing prices with good accuracy. We have described regression models, using various features to have lower Residual Sum of Squares error. While using features in a regression model some feature engineering is required for better prediction. Often a set of features (multiple regressions) or polynomial regression (applying a various set of powers in the features) is used for making better model fit. For these models are expected to be susceptible towards over fitting ridge regression is used to reduce it. This paper thus directs to the best application of regression models in addition to other techniques to optimize the result.

  10. An Empirical Study of the Trends in Real Estate Prices in Chandigarh (India)

    OpenAIRE

    Mittal, Bharat

    2007-01-01

    Indian real estate has huge potential demand in almost every sector especially commercial, residential, retail, industrial, hospitality, healthcare, etc. Commercial office space requirement is led by the burgeoning outsourcing and Information Technology Industry. The leaders of the IT/ITES world have set up or are setting up their centres in India. Estimated demand from IT/ITES sector alone is expected to be 150mn sq. ft. of space across the major cities by 2010. In residential se...

  11. Private investments in hospitals : a comparison of three healthcare systems and possible implications for real estate strategies

    NARCIS (Netherlands)

    van der Zwart, J.; van der Voordt, Theo; de Jonge, H.

    2010-01-01

    Objectives: This article explores lessons to be learned from three different healthcare systems and the possible implications for the management of healthcare real estate, in particular in connection to the Dutch system. It discusses similarities and differences among the different systems, in

  12. 17 CFR 210.12-23 - Mortgage loans on real estate and interest earned on mortgages. 1

    Science.gov (United States)

    2010-04-01

    ... each of the above classes of mortgage loans the average gross rate of interest on mortgage loans held... mortgages sold Amortization of premium Other (describe) Balance at close of period $ If additions represent... item of mortgage loans on real estate investments has been written down or reserved against pursuant to...

  13. The Relative Performance of Debt-restricted Real Estate Investment Trusts (REITs): Does Faith Matter?

    OpenAIRE

    M. Kabir Hassan; Yasser Alhenawi; Hesham Merdad

    2011-01-01

    Ibrahim & Ong (2008) use operational restrictions of Islamic Investment Guidelines and conduct a thought experiment on Real Estate Investment Trusts (REITs) under restricted and non-restricted schemes. We use financial restriction and reach somewhat different results. Compliant REITs underperform non-compliant REITs in equally-weighted portfolios. However, the results are inversed in value-weighted portfolios. In the latter case, compliant REITs outperform non-compliant REITs and provide a le...

  14. Mandatory Fair Value Accounting and Information Asymmetry: Evidence from the European Real Estate Industry

    OpenAIRE

    Karl A. Muller, III; Edward J. Riedl; Thorsten Sellhorn

    2011-01-01

    We examine the effects of mandating the provision of fair value information for long-lived tangible assets on firms' information asymmetry. Specifically, we investigate whether European real estate firms' compulsory adoption of International Accounting Standard 40 (IAS 40; Investment Property), which mandated the provision of investment property fair values in 2005, resulted in reduced information asymmetry across market participants. Using as a control group firms that voluntarily provided t...

  15. ALIENAÇÃO FIDUCIÁRIA DE IMÓVEL: APORIAS NA CONTRATAÇÃO / FIDUCIARY ASSIGNMENT FOR THE GUARANTEE OF REAL ESTATES: CONTRACTING APORIA

    Directory of Open Access Journals (Sweden)

    Erik Frederico Gramstrup

    2016-04-01

    Full Text Available This article refers to practical problems involving the compliance of the fiduciary assignment for the guarantee of real estate, according to the principles of the social function, good faith and the contractual balance, using the inductive methodology. In addition to the presentation and analysis of recent problems faced by the Brazilian Superior Court of Justice, in particular we have been identified and analyzed problems involving the contracting of the fiduciary assignment for the guarantee of real estate that are still pending Praetorian analysis, aiming for a solution in the Brazilian Law. The study demonstrates that the contract in reference is under constant unbalances, distorting its use and away from the purpose intended by the legislature. To make the technical analysis of this complex contract possible, it was necessary to retake definitions; concept; historical interpretation; legal nature and effects; and the guarantee foreclosure, not only of the fiduciary assignment for the guarantee of real estate, but also about the legal transaction and the trust property.

  16. Valuing Residential Energy Efficiency in Two Alaska Real Estate Markets: A Hedonic Approach

    Science.gov (United States)

    Pride, Dominique J.

    Alaska households have high home energy consumption and expenditures. Improving the energy efficiency of the housing stock can reduce home energy consumption, thereby reducing home energy expenditures and CO2 emissions. Improving the energy efficiency of a home may also increase its transaction price if the energy efficiency improvements are capitalized into the value of the home. The relationship between energy efficiency and transaction prices in the Fairbanks and Anchorage, Alaska residential real estate markets is examined. Using a hedonic pricing framework and difference-in-differences analysis, the impact of the Alaska Home Energy Rebate program on the transaction prices of single-family homes in the Fairbanks and Anchorage housing markets from 2008 through 2015 is examined. The results indicate that compared to homes that did not complete the program, homes that completed the program sell for a statistically significant price premium between 15.1% and 15.5% in the Fairbanks market and between 5% and 11% in the Anchorage market. A hedonic pricing framework is used to relate energy efficiency ratings and transaction prices of homes in the Fairbanks and Anchorage residential real estate markets from 2008 through 2015. The results indicate that homes with above-average energy efficiency ratings sell for a statistically significant price premium between 6.9% and 17.5% in the Fairbanks market and between 1.8% and 6.0% in the Anchorage market.

  17. 项目融资在大型住宅房地产开发中的应用%Project Financing in Large Residential Real Estate Development Application

    Institute of Scientific and Technical Information of China (English)

    姜永铭; 史闻东

    2013-01-01

      大型住宅房地产项目开发日益成为我国房地产开发商的共同偏好。而大型项目的开发意味着大规模的资金投入,在国家对房地产业持续宏观调控的背景下,如何筹集足够的开发资金是房地产开发商面临的最为关键的问题。项目融资作为一种重要的国际金融工具,其独特的融资机制和在分散风险方面的特殊作用,使其在实际应用中发挥了重要作用,已成为大型工程项目建设资金筹集的卓有成效且日趋成熟的融资手段。然而,项目融资在房地产开发领域特别是大型住宅房地产开发领域尚未得到真正意义上的应用。因此,文章就项目融资在大型住宅房地产开发中的应用问题进行探索性研究,以期拓展项目融资的应用领域,增加房地产企业融资渠道,降低房地产企业融资风险。%  Large residential real estate project development is increasingly becoming a common preference for real estate de-velopers in China. The development of large-scale projects means that the large-scale capital investment in the context of su-stained macroeconomic regulation and control of the state of the real estate industry, how to raise enough funds for developing the most critical issues facing the real estate developers. Project financing is a kind of important international financial tool, its unique financing mechanism and risk disperse special effects, so that in the practical application has played an important role, has become a large -scale project construction funds very fruitful and increasingly mature financing means. However, the project financing in the field of real estate development especially large residential real estate development area has yet to get a real sense of application. Therefore, this article on the project financing in large residential real estate development in the application of exploratory study, in order to expand the application of the

  18. Essays on land and labor in urbanizing China

    NARCIS (Netherlands)

    Wu, Yan

    2017-01-01

    In this dissertation I address emerging land and labor issues associated with the rapid urbanization in China over the past decades, including the negative effects of the real estate booms on manufacturing development, land conflicts, and gender inequality among migrants. The thesis consists of

  19. Analisis Pengaruh Tingkat Profitabilitas dan Harga Saham Terhadap Volume Penjualan Saham Pada Perusahaan Real Estate dan Property yang Terdaftar di Bursa Efek Indonesia

    OpenAIRE

    Matius, Pebri

    2016-01-01

    The formulation of the problem in this research is the extent to which the influence of the level of profitability and share price of the stock on the sales volume Real estate and Property companies listed on the Indonesia Stock Exchange. The purpose of this study is to investigate and analyze the effect of the level of profitability and share price of the stock on the sales volume Real Estate and Property companies listed on the Indonesia Stock Exchange. The independent variable in this stud...

  20. 26 CFR 1.501(c)(6)-1 - Business leagues, chambers of commerce, real estate boards, and boards of trade.

    Science.gov (United States)

    2010-04-01

    ... 26 Internal Revenue 7 2010-04-01 2010-04-01 true Business leagues, chambers of commerce, real... Organizations § 1.501(c)(6)-1 Business leagues, chambers of commerce, real estate boards, and boards of trade. A... on for profit. It is an organization of the same general class as a chamber of commerce or board of...

  1. 38 CFR 36.4515 - Estate of veteran in real property.

    Science.gov (United States)

    2010-07-01

    ...: (1) A fee simple estate therein, legal or equitable; or (2) A leasehold estate running or renewable..., except as modified by paragraph (b) of this section; or (4) A beneficial interest in a revocable Family...

  2. Pre-Emption, Back-In And Redemption Rights As Well As The Right Of Priority In Acquisition Of Real Estate

    Directory of Open Access Journals (Sweden)

    Dadańska Katarzyna A.

    2015-03-01

    Full Text Available Among factors that might significantly diversify common and economic trading, in particular trading in real estate, pre-emption, back-in and redemption rights, as well as the right of priority in acquisition play an important role. These legal instruments, despite certain differences in their legal structures, serve a similar function. Namely, they may be utilized for the purpose of affecting the preferred ownership structure. The legislator in pursuit of the assumed ownership structure may – through the instruments of the pre-emption right, back–in right, redemption right and the right of priority in acquisition – particularly with their statutory character - restrict freedom to trade in ownership with regard to the selection of the real estate purchaser. Simultaneously, in the contracting process, the parties face a certain manner of proceeding imposed, the purpose of which is to conclude the contract on transferring real estate ownership with the partner preferred by the legislator. In certain cases, the legislator goes even further, granting the eligible party a claim under which the eligible party may demand that the party obliged shall submit an appropriate declaration of will, and in the event that the party obliged refuses – the eligible party may seek the judgment of the court replacing that declaration. Proper navigation in the field of real estate trading, in particular with regard to transactions in which the pre-emption right, back-in right, and redemption right, or the right of priority in acquisition is reserved for defined entities, requires defining the legal character of the given instrument, the manner of executing the due right by the eligible party, results of the failure of the parties to the contracting process to fulfill the obligations imposed by the act, and finally, defining whether there are means for the compulsory execution of the power guaranteed by the act and, if yes, what these means are.

  3. Amplifying Real Estate Value through Energy & Water Management: From ESCO to "Energy Services Partner"

    OpenAIRE

    Mills, Evan

    2004-01-01

    The energy service company (ESCO) business model could become significantly more effective by integrating the energy-efficiency purveyor and their capital into the underlying building ownership and operation partnership, rather than the current model in which the ESCO remains an outsider with higher transaction costs and limited interest and participation in the value created by the cost savings. Resource conservation advocates rarely use the language of real estate to articulate the cos...

  4. 38 CFR 36.4354 - Estate of veteran in real property.

    Science.gov (United States)

    2010-07-01

    ... fee simple estate therein, legal or equitable; or (2) A leasehold estate running or renewable at the... subjected to the lien; or (4) A beneficial interest in a revocable Family Living Trust that ensures that the...

  5. 75 FR 44006 - Notice of Submission of Proposed Information Collection to OMB, HUD-Owned Real Estate-Sales...

    Science.gov (United States)

    2010-07-27

    ... known lead-based paint and lead-based paint hazards in HUD sales of pre-1978 construction. Frequency of... Proposed Information Collection to OMB, HUD-Owned Real Estate--Sales Contracts and Addenda (HUD Programs... sales contracts and addenda in conjunction with offers to purchase HUD-owned property. The sales...

  6. 76 FR 5819 - Notice of Submission of Proposed Information Collection to OMB; HUD-Owned Real Estate-Dollar Home...

    Science.gov (United States)

    2011-02-02

    ... Proposed Information Collection to OMB; HUD-Owned Real Estate--Dollar Home Sales Program AGENCY: Office of... organizations, and government entities. The sale of these properties under this program makes it possible for... appropriate automated collection techniques or other forms of information technology, e.g., permitting...

  7. New cities between sustainability and real estate investment: A case study of New Cairo city

    Directory of Open Access Journals (Sweden)

    Reham M. Hafez

    2017-04-01

    This research reviews the basis of development of the new cities. The influence of the real estate investment in some Arab countries, then it handles the case study – “New Cairo city”. Discussing all the investing factors made the city in its current status. Then comes the recommendations in a trial to get an alternative structure to achieve sustainability in light of the current determinants and growth stages.

  8. Urbanization and ambient quality: the prodution process of the brazilian coast space

    OpenAIRE

    Borelli, Elizabeth

    2008-01-01

    This text discuss about the question of the relations between urbanization and ambient quality in the coastal zone. The increasing degradation of coastal ecosystems is provoked by the disordered urban expansion, in function of the interests of the capital. Real estate speculation, irregular land divisions, predatory tourism, clandestine nestings, demographic growth with significant migratory movement, are elements that exemplifies the urbanization process that comes occurring of disordered fo...

  9. Methods of modeling TCO residential real estate in the life cycles of buildings as a promising energy efficiency management tool

    Directory of Open Access Journals (Sweden)

    Kulakov Kirill

    2017-01-01

    Full Text Available Building and developing an affordable housing market is a huge challenge for Russia’s national economy. Today, the housing construction industry finds itself in a situation torn by a conflict caused by the simultaneous needs to minimize the housing construction costs in order to make housing more affordable for Russians and to increase the energy efficiency of the housing projects, which is associated with additional costs for developers. To find solutions to this contradictory situation, one needs new theoretical and practical approaches and economic tools. The global economic trend of managing goods and services on the basis of the value of goods and services over the life cycle is also manifested in the construction industry in Russia. The problem of forming a new economic thinking in the housing sector predetermines the perception of the value of housing not only as the price of purchased real estate, but as the equivalent of the total cost of ownership of real estate throughout its life cycle. This approach allows to compensate the initial rise in the cost of construction resulting from the introduction of energy-efficient technologies by savings in the operational phase of the life cycle of the property. In this regard, management of the total cost of real estate ownership based on energy modeling is of high research and practical relevance.

  10. How the Recession Affects the Expectations of Potential Acquirers of Real Estate Right in Deciding to Purchase Property?

    OpenAIRE

    Grum, Bojan; Grum, Darja Kobal

    2012-01-01

    The objective was to identify factors which are critical to potential acquirers of real estate right in deciding to purchase property. We analysed whether the recession is negatively associated with these expectations. The results of 1306 participant show that people generally expressed higher expectations in year 2009 than then in year 2011, as specially reflected by younger participants. Further analyses of the impact of statistically significant differences of potential acquirers of real e...

  11. Key Concepts of Real Estate Market Analysis and Valuation with Specific Application to Residential Apartment Investments.

    Science.gov (United States)

    1986-01-01

    but is intended to I r Ii m provide a basic understanding of essentilal real estate I investment concepts. I l! I I 11 I I I ! I I I~i lllm m I...3,100 Utilities - Electric 5,000 Utilities - Water 15,000 Utilities - Gas/ Oil 1,200 Total Expenses $137,700 [ Net Operating Income $273,343 59 Figure

  12. DETERMINAN PROFITABILITAS PADA PERUSAHAAN PROPERTI DAN REAL ESTATE GO PUBLIC DI INDONESIA

    Directory of Open Access Journals (Sweden)

    Fani Karina

    2015-10-01

    Full Text Available Tujuan dari penelitian ini adalah untuk menganalisis pengaruh ukuran perusahaan (size, perputaran piutang, debt to equity ratio, dan market capitalization terhadap profitabilitas. Populasi penelitian ini adalah seluruh perusahaan properti dan real estate yang terdaftar di Bursa Efek Indonesia (BEI pada tahun 2011 – 2013, berjumlah 46 perusahaan. Teknik pengambilan sampel dengan purposive sampling. Sampel yang masuk kriteria sebanyak 28 perusahaan dengan 79 unit analisis.  Metode analisis data penelitian ini menggunakan regresi linier berganda. Hasil penelitian menunjukkan bahwa ukuran perusahaan (size, debt to equity ratio, dan market capitalization tidak berpengaruh secara signifikan terhadap profitabilitas. Sedangkan, perputaran piutang memiliki pengaruh  positif terhadap profitabilitas. Saran untuk peneliti selanjutnya adalah mengambil variabel-variabel lain yang tidak dimasukkan ke dalam penelitian ini, yang mana memiliki potensi untuk mempengaruhi profitabilitas, seperti perputaran total aset dan perputaran modal.This study aims to analyze the effect of company size, receivable turnover, debt to equity ratio, and market capitalization on profitability. The populations of this study are all property and real estate companies listed in Indonesia Stock Exchange (IDX year of 2011 to 2013, amount to 46 companies. The study uses purposive sampling. The companies that meet requirements for this study were 28 companies having 79 data in term of financial reports. Method of data analysis used in this study is multiple linier regression. The results of this study show that the company size, debt to equity ratio, and market capitalization have no significant effect on profitability. Meanwhile, receivable turnover has a positive effect on profitability. Other researches should identify other independent variables that have potential influence on profitability such as total asset turnover and capital turnover.

  13. Capital Structure and Diversification Strategies - A Study of Swedish Real Estate Companies Over Time

    OpenAIRE

    Hertéus, Robin; Hilmgård, Simon

    2016-01-01

    This thesis’ aim is to study four Swedish real estate companies between the years 2006-2015 to see whether their capital structure and investment strategies have changed over the years. The data upon which the thesis is based, is gathered from the four companies’ annual reports. These years are of interest due to the changing economic environment, both in Sweden and the world, during this time period. The time period includes one financial crisis and a never before experienced interest rate e...

  14. Analysis of the South African input-output table to determine sector specific economic impacts: A study on real estate

    Directory of Open Access Journals (Sweden)

    Douw Gert Brand Boshoff

    2016-11-01

    Full Text Available Input-output analysis is a well known method of analysing specific economic activity and the influence of different sectors on the economy and on one another. This study investigates the ability of input-output analysis to consider the importance of commercial real estate on the economy. It analyses the economic activity, contribution to GDP, employment created and taxes generated with reference to direct, indirect and induced impacts. The research shows the contribution of the specific sector on the economy and highlights the ability of input-output analysis to determine the impact of different types of property and locational analysis. The interaction of property with the economy is discussed, which also enables the use of the analysis reported here for short term future forecasting, whereby expected real estate activity is used to forecast the direct, indirect and induced effects on the economy.

  15. Real Estate Appraisal in Central-Eastern Europe: Comparative Analysis of Poland and Slovakia

    Directory of Open Access Journals (Sweden)

    Adamuscin Andrej

    2017-12-01

    Full Text Available The countries in Central-Eastern Europe have been subjected to dynamic economic changes. Researchers from Poland and Slovakia study the history of the creation of and rules by which the real estate appraiser’s profession functions. They also present the methodological basics for property appraisals. The original value of this article is a comparative analysis depicting the similarities and differences occurring in the research area, in two countries from the same region of Europe. The analysis may also influence the methodological discussions of specialists concerning the correctness and purpose of certain approaches, methods or techniques of property appraisal.

  16. Adequacy of core knowledge and soft skills in the performance of professional employees of real estate firms in Nigeria

    NARCIS (Netherlands)

    Oladokun, S.O.; Gbadegesin, J.T.

    2017-01-01

    Purpose – Real estate professionals are vital resources to the property firms and the industry atlarge. Employees’ skills, knowledge and competence contribute in great measure to organisation’s business performance. The purpose of this study is to examine the adequacy ofcore knowledge and soft

  17. Utilizing Commercial Real Estate Owner and Investor Data to Analyze the Financial Performance of Energy Efficient, High-Performance Office Buildings

    Energy Technology Data Exchange (ETDEWEB)

    Cloutier, Deborah [JDM Associates, Falls Church, VA (United States); Hosseini, Farshid [JDM Associates, Falls Church, VA (United States); White, Andrew [JDM Associates, Falls Church, VA (United States)

    2017-05-01

    Evidence has shown that owning and operating energy-efficient, high-performance, “green” properties results in multiple benefits including lower utility bills, higher rents, improved occupancy, and greater net operating income. However, it is difficult to isolate and control moderating factors to identify the specific drivers behind improved financial performance and value to investors that results from sustainability in real estate. DOE is interested in facilitating deeper investigation of the correlation between energy efficiency and financial performance, reducing data acquisition and matching challenges, and developing a stronger understanding of how sustainable design and energy efficiency impact value. DOE commissioned this pilot study to test the logistical and empirical procedures required to establish a Commercial Real Estate Data Aggregation & Trends Analysis lab, determine the potential benefits available through the lab, and contribute to the existing body of evidence in this field.

  18. CONTEMPORARY FORMAT OF TARGET-ORIENTED URBAN DEVELOPMENT PROGRAMS

    Directory of Open Access Journals (Sweden)

    Yaskova Natalya Yurevna

    2012-10-01

    In the context accepted by the authors, attainment of the above objective will involve fulfillment of each of the aforementioned requirements. They are to assure the concentration of resources and comprehensive satisfaction of the needs of the urban population in terms of the most popular items of real estate within a particular time span.

  19. Appraisal of the Fischer-DiPasquale-Wheaton (FDW real estate model and development of an integrated property and asset market model

    Directory of Open Access Journals (Sweden)

    H Du Toit

    2004-04-01

    Full Text Available This paper provides a concise overview of the development of an integrated property and asset market model (IPAMM for South African property markets, utilising the Pretoria office market as case study. The IPAMM simulates the interrelationships between property and asset markets in a diagrammatic quadrant model configuration. The Fischer-DiPasquale-Wheaton (FDW real estate model, arguably the most advanced diagrammatic quadrant real estate model available at present, served as basis for the development of IPAMM. IPAMM is essentially a regression model based on a system of stochastic equations that captures the interrelationships between property and asset markets. The model advances beyond mere conceptualisation of these relationships to a quantified interpretation and application of the theoretical premises that represent the micro-foundations of economic behaviour in property and asset markets.

  20. A Methodology for the Selection of Multi-Criteria Decision Analysis Methods in Real Estate and Land Management Processes

    Directory of Open Access Journals (Sweden)

    Maria Rosaria Guarini

    2018-02-01

    Full Text Available Real estate and land management are characterised by a complex, elaborate combination of technical, regulatory and governmental factors. In Europe, Public Administrators must address the complex decision-making problems that need to be resolved, while also acting in consideration of the expectations of the different stakeholders involved in settlement transformation. In complex situations (e.g., with different aspects to be considered and multilevel actors involved, decision-making processes are often used to solve multidisciplinary and multidimensional analyses, which support the choices of those who are making the decision. Multi-Criteria Decision Analysis (MCDA methods are included among the examination and evaluation techniques considered useful by the European Community. Such analyses and techniques are performed using methods, which aim to reach a synthesis of the various forms of input data needed to define decision-making problems of a similar complexity. Thus, one or more of the conclusions reached allow for informed, well thought-out, strategic decisions. According to the technical literature on MCDA, numerous methods are applicable in different decision-making situations, however, advice for selecting the most appropriate for the specific field of application and problem have not been thoroughly investigated. In land and real estate management, numerous queries regarding evaluations often arise. In brief, the objective of this paper is to outline a procedure with which to select the method best suited to the specific queries of evaluation, which commonly arise while addressing decision-making problems. In particular issues of land and real estate management, representing the so-called “settlement sector”. The procedure will follow a theoretical-methodological approach by formulating a taxonomy of the endogenous and exogenous variables of the multi-criteria analysis methods.

  1. Analysis of value creation by eva® and stock return of real estate companies in brazil

    Directory of Open Access Journals (Sweden)

    Marcelo Rangner Vasconcelos

    2017-01-01

    Full Text Available In the last years, the real estate industry in Brazil grew and consolidated, causing the opening of capital of several companies in this segment. This scenario raises the need to evaluate the financial and the value creation of this sector. Faced with this situation, the present study aims to verify what is the relationship between Economic Value Added (EVA® and stock return of the construction industry that make up the Indix BM&FBOVESPA Real Estate (IMOB. As for methodological procedures, it is a bibliographical research, descriptive and as well as a multicaso study, contemplating nine companies that compose said index in 2015. The ability to generate value of this sector was analyzed through the Economic Value Added (EVA®, in which information was collected from the companies analyzed for the financial years 2010 to 2014, with the purpose of obtaining Return on Investment (ROI, Economic Value Added (EVA® and Stock Return. In general, the results of the survey that the average performance of companies, in those years, represents the destruction of value, provided by the impact of the cost of capital, which was higher than the net results of the Companies. Lastly, nominal EVA® and stock return are negatively correlated. On the other hand, residual ROI and stock return are Positively correlated significantly.

  2. A coupled physical and economic model of the response of coastal real estate to climate risk

    Science.gov (United States)

    McNamara, Dylan E.; Keeler, Andrew

    2013-06-01

    Barring an unprecedented large-scale effort to raise island elevation, barrier-island communities common along the US East Coast are likely to eventually face inundation of the existing built environment on a timescale that depends on uncertain climatic forcing. Between the present and when a combination of sea-level rise and erosion renders these areas uninhabitable, communities must choose levels of defensive expenditures to reduce risks and individual residents must assess whether and when risk levels are unacceptably high to justify investment in housing. We model the dynamics of coastal adaptation as the interplay of underlying climatic risks, collective actions to mitigate those risks, and individual risk assessments based on beliefs in model predictions and processing of past climate events. Efforts linking physical and behavioural models to explore shoreline dynamics have not yet brought together this set of essential factors. We couple a barrier-island model with an agent-based model of real-estate markets to show that, relative to people with low belief in model predictions about climate change, informed property owners invest heavily in defensive expenditures in the near term and then abandon coastal real estate at some critical risk threshold that presages a period of significant price volatility.

  3. Spatial Hedonic Models for Measuring the Impact of Sea-Level Rise on Coastal Real Estate

    OpenAIRE

    Okmyung Bin; Ben Poulter; Christopher F. Dumas; John C. Whitehead

    2009-01-01

    This study uses a unique integration of geospatial and hedonic property data to estimate the impact of sea-level rise on coastal real estate in North Carolina. North Carolina’s coastal plain is one of several large terrestrial systems around the world threatened by rising sea-levels. High-resolution topographic LIDAR (Light Detection and Ranging) data are used to provide accurate inundation maps for all properties that will be at risk under six different sea-level rise scenarios. A simulation...

  4. The Uses of Informality : Urban Development and Social Distinction in Mexico City

    NARCIS (Netherlands)

    Mueller, F.; Segura, R.

    Urban informality” is a signifier that is disputed by real estate developers, politicians, and residents in undertaking strategies of social distinction and gaining particular political and economic benefits. Research in the western periphery of Mexico City distinguishes three cases of such use of

  5. Development of objectives for the business operations and real estate management of the municipalities. Kuntien liikelaitostoimintojen ja kiinteistoenhoidon tavoitteellinen kehittaeminen

    Energy Technology Data Exchange (ETDEWEB)

    Kalliomaeki, M [Suomen Kunnallisliitto, Helsinki (Finland)

    1987-01-01

    In 1986 a research project was started dealing with the development of district heating, water supply and sewerage operations and real estate management of the municipalities. It was carried out as a test operation project in three municipalities: Asikkala, Hollola and Laukaa. It aimed at bringing about resources for a continuous development of the operations. The project ended formally by planning objectives for the year 1988. The development work in the test municipalities goes on. An all-inclusive method of development was applied in the project with the objective to combine theory and practice. The purpose was to find practical means of improving the profitability of the municipalities' district heating operations and real estate management under the prevailing conditions. The form of organisation or the accounting systems were not as such objects for the research but it was found that these do affect the profitability of operations, i.a. through the clarity of motivation and clarity of questions to do with responsibility and authority. According to the research, the applied contents- and profit-oriented control of operations improves the preconditions profitable municipal district heating operations and real estate management. However, the present means of control (planning, accounting and follow-up systems) used in the municipal administrations support an input-oriented type of leadership. For this reason, those rules which control i.a. the staff administration, planning practices, profit follow-up practices, accounting systems and the utilisation and functions of data technology should be developed to support a profit-oriented type of control.

  6. FAKTOR-FAKTOR KEINGINAN PINDAH AGEN REAL ESTATE WINSTON DI SURABAYA

    Directory of Open Access Journals (Sweden)

    Antonius Ricky Hartono

    2015-01-01

    Full Text Available This research was conducted to determine the factors that affect the desire to mo­ve Winston real estate agent in Surabaya. The population in this study amounted to 149 people. The sample of this research used the method of sampling of incidental to the level of a 10% error. Sample of this research as many as 113 people. This research u­sed a quantitative approach. The technique of collecting data used questionnaires com­pleted by respondents. Methods of data analysis that was used by the analysis of the factor. Analysis of the factor was ordained by using program Statistical Package for the So­cial Science (SPSS which consists of two stages: a descriptive analysis and ex­trac­tion. The results of this research show that the factors which affect the desire to move were composed of factors of individual and organizational factors. Individual factors which are more dominant than the system factors of the organization.

  7. 7 CFR 1955.105 - Real property affected (CONACT).

    Science.gov (United States)

    2010-01-01

    ... inventory property. State Directors in consultation with other lenders, real estate agents, auctioneers, and... analyze farm real estate market conditions within the geographic areas of their jurisdiction and determine... real estate conditions. If the analyses of farm real estate conditions indicate that such sales would...

  8. Green pastures: Do US real estate prices respond to population health?

    Science.gov (United States)

    Nau, Claudia; Bishai, David

    2018-01-01

    We investigate whether communities with improving population health will subsequently experience rising real estate prices. Home price indices (HPIs) for 371 MSAs from 1990 to 2010 are regressed against life-expectancy five years prior. HPIs come from the Federal Housing Finance Agency. Life expectancy estimates come from the Institute of Health Metrics. Our analysis uses random and fixed effect models with a comprehensive set of controls. Life expectancy predicted increases in the HPI controlling for potential confounders. We found that, this effect varied spatially. Communities that invest their revenue from property taxes in public health infrastructure could benefit from a virtuous cycle of better health leading to higher property values. Communities that do not invest in health could enter vicious cycles and this could widen geospatial health and wealth disparities. Copyright © 2017 Elsevier Ltd. All rights reserved.

  9. The Use of the GIS Model on the Implementation of Urban Cadastre

    Directory of Open Access Journals (Sweden)

    Lateș Iustina

    2017-10-01

    Full Text Available The development of a GIS model that includes both information on real estate cadaster and water supply networks is an efficient one. The paper presents the stages of making such a model, starting from field measurements, to structuring the database and custom layouts. Today’s large volume of data requires information to be centralized into tables that are then attached to graphical entities. In the analysis it was considered that the main components of the real estate cadaster system are the field, the parcel, the owner, and for the water supply network distribution networks, hydrants and manhole. GIS programs aim to specifying properties on custom layouts on structural and functional areas. Autocad and ArcMap software allow you to get themed maps on specific system domains. The study model can be simple to complex and can be generalized for any hydro-urban system (urban localities, rural localities, industrial areas, etc..

  10. 26 CFR 55.4981-1 - Imposition of excise tax on certain real estate investment trust taxable income not distributed...

    Science.gov (United States)

    2010-04-01

    ... 26 Internal Revenue 17 2010-04-01 2010-04-01 false Imposition of excise tax on certain real estate investment trust taxable income not distributed during the taxable year; taxable years ending on or before January 1, 1987. 55.4981-1 Section 55.4981-1 Internal Revenue INTERNAL REVENUE SERVICE, DEPARTMENT OF THE...

  11. Neither Shoreditch nor Manhattan: Post-politics, 'soft austerity urbanism' and real abstraction in Glasgow North

    OpenAIRE

    Gray, Neil

    2018-01-01

    Speirs Locks is being re-constructed as a new cultural quarter in Glasgow North, with urban boosters envisioning the unlikely, rundown and de-populated light industrial estate as a key site in the city's ongoing cultural regeneration strategy. Yet this creative place-making initiative, I argue, masks a post-political conjuncture based on urban speculation, displacement and the foreclosure of dissent. Post-politics at Speirs Locks is characterised by what I term ‘soft austerity urbanism’: seem...

  12. Joint ownership of spouses and good faith acquisition of immovables by relying in the real estate cadastre

    Directory of Open Access Journals (Sweden)

    Cvetić Radenka M.

    2016-01-01

    Full Text Available The paper examines the rules on transferring of immovables in the matrimonial ownership regime against the backdrop of general notion of joint ownership and joint ownership (property of spouses. It explores whether the party who invokes the principle of reliance in the real estate cadastre shall be protected in the absence of an explicit rule guaranteeing the protection of a good faith acquirer in case of an unauthoriesd transfer done by one of the spouses. In other words, should for the sake of protection of confidence in legal transactions, acquisition of ownership and other rights in rem exceptionally be allowed by the good faith acquirer, provided that general presumptions under which confidence in accuracy and completeness of public registry of rights on immovables are fulfilled, in case where ownership was not inscribed as a joint ownership. The answer has been given in the absence of general rules on joint ownership, taking into account existing rules in the neighbouring countries, principle of reliance in the real estate cadastre and with due regard to the stance taken by the highest judicial body in the Republic of Serbia. The conclusion is that a spouse who is not inscribed in the public registry should not benefit from the protection against the good faith acquirer.

  13. 无穷等比数列在房地产估价中的广泛应用%Application of Infinite geometric series in the real estate valuation

    Institute of Scientific and Technical Information of China (English)

    龚光剑

    2011-01-01

    Infinite geometric series is more widely applied in real estate valuation. Mastering the infinite geometric series as a mathematical tool is essential to the development of real estate valuation techniques.%在房地产估价中,无穷等比数列的应用更为广泛,掌握了无穷等比数列这一数学工具,对房地产估价技术的开展至关重要。

  14. 26 CFR 5.856-1 - Extensions of the grace period for foreclosure property by a real estate investment trust.

    Science.gov (United States)

    2010-04-01

    ... 26 Internal Revenue 14 2010-04-01 2010-04-01 false Extensions of the grace period for foreclosure property by a real estate investment trust. 5.856-1 Section 5.856-1 Internal Revenue INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURY (CONTINUED) INCOME TAX (CONTINUED) TEMPORARY INCOME TAX REGULATIONS UNDER THE REVENUE ACT OF 1978 § 5.856-1...

  15. Black Gold, White Power: Mapping Oil, Real Estate, and Racial Segregation in the Los Angeles Basin, 1900-1939

    Directory of Open Access Journals (Sweden)

    Daniel G. Cumming

    2018-03-01

    Full Text Available In 1923, Southern California produced over twenty percent of the world’s oil. At the epicenter of an oil boom from 1892 to the 1930s, Los Angeles grew into the nation’s fifth largest city. By the end of the rush, it had also become one of the most racially segregated cities in the country. Historians have overlooked the relationship between industrialists drilling for oil and real estate developers codifying a racist housing market, namely through “redlining” maps and mortgage lending. While redlining is typically understood as a problem of horizontal territory, this paper argues that the mapping of the underground—the location and volume of subterranean oil fields, in particular—was a crucial technique in underwriting urban apartheid. Mapping technologies linked oil exploitation with restrictive property rights, constructing oil as a resource and vertically engineering a racialized housing market. By focusing on petro-industrialization interlocked with segregationist housing, this article reveals an unexamined chapter in Los Angeles’s history of resource exploitation and racial capitalism. Moreover, it contributes to a growing literature on the social production of resources, extractive technology and political exclusion, and the technoscientific practices used by states and corporations to mine the underground while constructing metropolitan inequality above ground.

  16. Improvement and alienation of public real estate

    Directory of Open Access Journals (Sweden)

    Ferruccio Favaron

    2012-04-01

    Full Text Available Most of the Italian cities have been in crisis through the last decades, not being able anymore to guarantee the needs and expectations of their inhabitants, due to the lack of fundamental services, mobility, places of aggregation and attraction. The housing growth since Second World War, answering almost only to the needs of speculation and revaluation of landed revenue, produced anonymous and degraded suburbs, contributing to cancel a fundamental part of our communities’ history and culture. The crisis of the cities has clashed with the architectural one. Through sustainable regeneration, identified by the Italian architects as the greatest opportunity for revitalizing the cities and develop the country, we need to sustain interventions based on high architectural quality, besides innovative energetic, environmental and social requalification standards. It is now as never fundamental to extend the city effect from the centre to the far end suburbs, upgrading the public element, integrating the services and proposing new polarities able to interact in a synergic and propaedeutic way with the city centre. Within these settings, involving public agencies and resources with private companies and capitals, the new conversion, development and alienation of the public real estate (valued more than 400 billions €, represent a unique chance to redefine and regenerate the cities, apart from being an extraordinary opportunity to drop the debt and rationalize the local government expenses. To provide powerful infrastructures, aimed cultural policies, sustainable and environmental developments plans, are the biggest challenges to make our cities the most important investment on our future.

  17. A stochastic model for stationary dynamics of prices in real estate markets. A case of random intensity for Poisson moments of prices changes

    Science.gov (United States)

    Rusakov, Oleg; Laskin, Michael

    2017-06-01

    We consider a stochastic model of changes of prices in real estate markets. We suppose that in a book of prices the changes happen in points of jumps of a Poisson process with a random intensity, i.e. moments of changes sequently follow to a random process of the Cox process type. We calculate cumulative mathematical expectations and variances for the random intensity of this point process. In the case that the process of random intensity is a martingale the cumulative variance has a linear grows. We statistically process a number of observations of real estate prices and accept hypotheses of a linear grows for estimations as well for cumulative average, as for cumulative variance both for input and output prises that are writing in the book of prises.

  18. The analysis of the existing typology of energy saving measures in the course of construction project implementation and real estate object operation

    Directory of Open Access Journals (Sweden)

    Kiseleva Ekaterina Aleksandrovna

    Full Text Available Today, speaking about the efficiency of energy saving measures it is necessary to analyze the consequences of alternative options of the use of renewables at reconstruction and updating of housing stock from the point of view of secondary energy use and by doing that to avoid negative consequences of greenhouse gases emissions. Thus special attention is paid as a rule to residential buildings. In addition to the assessment of the ideas of housing stock and power sources updating, the cost of construction materials in reconstruction projects, various concepts of reconstruction and economic consequences of the repair of buildings is also important. As a rule, the life cycle of a real estate object is longer, than the life cycle of the production process of the goods or service occurring on this object. Careful planning of the operation program of a real estate object already at the stage of its design and also its timely modernization according to new requirements play an important role throughout the whole life cycle of an object and its long-term and effective operation. The decision on the expediency of a construction project is made on the basis of the analysis of expenses for it. In practice it is quite seldom possible to take into account all the expenses for a constructed facility, that is the expenses arising at construction, operation, the contents and service of a real estate object during its existence. Often realization of more expensive solutions at the level of construction designs and equipment leads to considerable decrease in operational costs of a real estate object. Thus, without creation of a program of operation for this object it is very difficult to prove the expediency of more expensive resources and methods at construction, then it is determined by the minimum requirements. Nevertheless, the object not necessarily has to correspond to its initial state. As a rule, after some time the use of newer technical solutions is

  19. Modelovanje georeferenciranih podataka u katastru nepokretnosti primenom ISO 19100 serije standarda / Spatial data modeling in the real estate cadastre using ISO 19100 series of standards

    Directory of Open Access Journals (Sweden)

    Mirko N. Petrović

    2010-01-01

    Full Text Available Potreba za standardizacijom u oblasti geografskih informacionih sistema odavno postoji. Međunarodne aktivnosti na ovom polju rezultirale su uspostavljanjem ISO 19100 serije standarda, kojima se regulišu različiti aspekti na polju geoinformatike. U članku su opisane mogućnosti primene relevantnih standarda iz serije ISO 19100 u modelovanju georeferenciranih podataka za katastar nepokretnosti. / Introduction Standardization in geo-information technologies contributes to the establishment of efficient information functions, their greater stability and easier transition. Application of international, national and internal standards in the process of developing software products in the field of geo-information technology creates conditions for the development of efficient, low cost, reliable and secure software products. Spatial data modeling basics for real estate cadastre In terms of modeling, the spatial information of real estate cadastre is based on the vector data model which is suitable for modeling objects with a smaller number of properties with emphasis on the position. The vector spatial data model consists of two components: spatial and descriptive. The basis of the spatial one is geometry that contains metric data usually given in coordinates of a reference system. Geometry and Topology uniquely determine the shape, size and position of the object model in space, i.e. they represent its spatial component. Merging the spatial component with the descriptive one results in a completely defined object from the real world. Elements of spatial data quality Spatial data quality can be reviewed through a set of the following elements: origin, positional accuracy, attribute accuracy, completeness, logical consistency, semantic accuracy and the time information. The elements of spatial data quality listed above are provided using ISO 19100 series of standards. Application of ISO19100 series of standards in spatial data modeling for real

  20. “Financial alchemy” or a zero sum game? Real estate finance, securitisation and the UK property market

    OpenAIRE

    Lizieri, Colin; Ward, Charles

    2001-01-01

    Following the US model, the UK has seen considerable innovation in the funding, finance and procurement of real estate in the last decade. In the growing CMBS market asset backed securitisations have included $2.25billion secured on the Broadgate office development and issues secured on Canary Wharf and the Trafford Centre regional mall. Major occupiers (retailer Sainsbury’s, retail bank Abbey National) have engaged in innovative sale & leaseback and outsourcing schemes. Strong claims are mad...

  1. Consequences of Voluntary and Mandatory Fair Value Accounting: Evidence Surrounding IFRS Adoption in the EU Real Estate Industry

    OpenAIRE

    Karl A. Muller; Edward J. Riedl; Thorsten Sellhorn

    2008-01-01

    We examine the causes and consequences of European real estate firms' decisions to provide investment property fair values prior to the required disclosure of this information under International Financial Reporting Standards (IFRS). We find evidence that investor demand for fair value information-reflected in more dispersed ownership-and a firm's commitment to transparency increase the likelihood of providing fair values prior to their required provision under International Accounting Standa...

  2. Understanding complex urban systems multidisciplinary approaches to modeling

    CERN Document Server

    Gurr, Jens; Schmidt, J

    2014-01-01

    Understanding Complex Urban Systems takes as its point of departure the insight that the challenges of global urbanization and the complexity of urban systems cannot be understood – let alone ‘managed’ – by sectoral and disciplinary approaches alone. But while there has recently been significant progress in broadening and refining the methodologies for the quantitative modeling of complex urban systems, in deepening the theoretical understanding of cities as complex systems, or in illuminating the implications for urban planning, there is still a lack of well-founded conceptual thinking on the methodological foundations and the strategies of modeling urban complexity across the disciplines. Bringing together experts from the fields of urban and spatial planning, ecology, urban geography, real estate analysis, organizational cybernetics, stochastic optimization, and literary studies, as well as specialists in various systems approaches and in transdisciplinary methodologies of urban analysis, the volum...

  3. Wind energy development and perceived real estate values in Ontario, Canada

    Directory of Open Access Journals (Sweden)

    Chad Walker

    2014-11-01

    Full Text Available This paper focuses on public concerns about real estate value loss in communities in the vicinity of wind turbines. There are some conflicting results in recent academic and non-academic literatures on the issue of property values in general—yet little has been studied about how residents near turbines view the value of their own properties. Using both face-to-face interviews (n = 26 and community survey results (n = 152 from two adjacent communities, this exploratory mixed-method study contextualizes perceived property value loss. Interview results suggest a potential connection between perceived property value loss and actual property value loss, whereby assumed property degradation from turbines seem to lower both asking and selling prices. This idea is reinforced by regression results which suggest that felt property value loss is predicted by health concerns, visual annoyances and community-based variables. Overall, the findings point to the need for greater attention to micro-level local, and interconnected impacts of wind energy development.

  4. Real Estate Bubble Bursts and Government Policy during Crisis: Examples of Estonia, Ireland and Sweden

    Directory of Open Access Journals (Sweden)

    Urmas Varblane

    2013-01-01

    Full Text Available The objective of current article is to view previous experience with real estate crises and taking into account such experience find suitable policy reactions to overcome the current Estonian crisis as smoothly as possible. Beside overall theoretical guidelines for overcoming the crisis, examples of Sweden and Ireland are viewed. The policy issues suggested for Estonia include some changes in tax laws, avoiding expansionary fiscal policy, making lending stricter and borrower responsible to higher extent, cooperation of different authorities to tackle problem of bad loans, initiating wage and price cut, paying more attention to exporting sector

  5. Organizational and technological genesis as a tool for strategic planning of large-scale real estate development projects

    Directory of Open Access Journals (Sweden)

    Gusakova Elena

    2018-01-01

    Full Text Available Conceptual planning and implementation of large-scale real estate development projects is one of the most difficult tasks in the organization of construction. In the Russian practice, a large experience of development, complex reorganization and redevelopment of large development areas is accumulated. The methodological basis for solving similar problems is the organizational and technological genesis, which considers the development of the project during the full life cycle. An analysis of this experience allows us to talk about the formation of new and effective approaches and methods within the organizational and technological genesis. Among them, the most significant and universal approaches should be highlighted: The concept of real estate development, which explains the reasons and objective needs for project transformations during its life cycle, as well as to increase the adaptive capabilities of design decisions and the project's suitability for the most likely future changes; Development project of joint action, which is based on the balance of interests of project participants; Master planning of the life cycle stages of the project and subprojects, based on the rethinking of the theory and methods of the construction organization, and allowing rationally localized construction sites and related subprojects, while retaining the remaining development and development area beyond of the negative effect of construction for comfortable living and work.

  6. The role and significance of green spaces in recent Slovenian residential estates

    Directory of Open Access Journals (Sweden)

    Davorin Gazvoda

    2001-01-01

    Full Text Available The design of new housing estates in Slovenia isn’t improving despite new technologies and expansive professional knowledge in various fields from urban and architectural design to landscape design of open spaces. Low availability of building space and desired growth of returns from given sites by increasing building density and quantity of homes are both diminishing possibilities for adequate design of green surfaces that could significantly improve the quality of the living environment. Comparison with older housing estates shows that green neighbourhood surfaces designed thirty or more years ago are much better. Despite changed social conditions, parameters defining high quality living environments haven’t changed. Therefore at all levels of urban planning and aligned to adequate spatial policies it is necessary to strive for more spacious housing estates with larger shares of suitably designed green surfaces.

  7. Real Estate Investment Trusts in the Developed Countries

    Directory of Open Access Journals (Sweden)

    Yulia A. Burkova

    2014-01-01

    Full Text Available In this article, performance of239 real estate investment trusts (REITs from 15 developed countries is analyzed according to their regional specific characteristics. This investment vehicle is rapidly spreading all over the world due to high returns it offers while being of low risk, and since the governments create special legislation. In 2013, there were around 30 countries where REITs can be created, so regional specifics of REITs' performance can be studied. USA has the oldest REITs market in the world with 133 trusts operating there. Popularity of American REITs is explained by the fact that they usually hold well diversified portfolios of property with stable income. This helped them rather successfully survive through the global economic crisis of2008-2010, but after that attracted close attention of institutional investors which has led to the creation of new bubble on the market. European REITs market has appeared recently, its development being slowed down by the recent crisis. The debt crisis and liquidity strain caused REITs lack of funds; economic downturn led to the reduction of trusts' returns, resulting in the outflow of the investment to the USA. In 2012, the recovery of the debt capital market reanimated the REITs market. REITs in the Asia-Pacific region are very risky thus offering a high riskpremium. Their returns are unstable and fluctuate in line with the global economic situation. After the crisis, REITs have been the most attractive investment vehicle on the market offering high yield.

  8. Strategic urban projects in Amsterdam and New York : Incomplete contracts and good faith in different legal systems

    NARCIS (Netherlands)

    Van der Veen, M.; Korthals Altes, W.K.

    2009-01-01

    Contracts between local government and private investment agencies play an important role in strategic urban projects. Real estate cycles provide only a narrow window of opportunity within which to draft such contracts. A legal system should therefore not impede the possibility of reaching an

  9. Household Solid Waste Disposal in Public Housing Estates in Awka ...

    African Journals Online (AJOL)

    This paper presents the results of a study on household solid waste disposal in the public housing estates in Awka, Anambra State. The study identified solid waste disposal methods from the households in AHOCOL, Udoka, Iyiagu and Real Housing Estates with an intention to make proposals for better solid waste disposal.

  10. The impact of gated Communities on property values: evidence of changes in real estate markets -Los Angeles, 1980-2000

    Directory of Open Access Journals (Sweden)

    Renaud Le Goix

    2007-05-01

    Full Text Available The paper focuses on how gated communities, as private means of providing public infrastructure and security, real estate products and club-economies, produce changes in housing market patterns. Based on an empirical study of Los Angeles (California data, it aims to trace to what extent gates and walls favor property values and if the presence of gated communities produces over time (1980-2000 a deterrent effect on non-gated properties abutting the enclave, or close to it. Resulting from a demand for security, gated communities are a leading offer from the homebuilding industry. But their spread emerges from a partnership between local governments and land developers. Both agree to charge the homebuyer with the cost of urban sprawl (construction and maintenance costs of infrastructure within the gates. Such a structuring of residential space is particularly desirable on the urban edges, where the cost of urban sprawl exceeds the financial assets of local public authorities. New private developments provide local governments with new wealthy taxpayers at almost no cost. As compensation, the homebuyer is granted private and exclusive access to sites and amenities (lakes, beaches, etc.. Such exclusivity favors the location rent, and usually positively affects the property values within the gated enclaves. But it is also assumed that operating cost of private governance are paid for by the increase of property values. Market failure nevertheless occurs when costs rise above sustainable levels compared to property values. Changes produced by gates yield to at least two outcomes. At first sight, residential enclosures produce a price premium, thus being a smart investment. Furthermore, gated communities might well be able to generate enough property value to pay off the price of private governance. But this analysis holds only on a short term basis. In the long term, larger and wealthier gated communities are successful in shielding their property

  11. Environmental dynamic, business strategy, and financial performance: An empirical study of Indonesian property and real estate industry

    Directory of Open Access Journals (Sweden)

    Imam Wahyudi

    2013-04-01

    Full Text Available Firm’s strategic orientation involves synchronizing environmental dynamics, corporate strategy and capital structure in order to achieve firm performance targets. The co-alignment model used successfully in the hospitality industry might be used in a wider context as a framework in explain- ing these relationships simultaneously. Using the data of public firms in Indonesia during the pe- riod of 1996-2010, we found that co-alignment model can be implemented in property and real estate industry as well as in hospitality industry.

  12. Disentangling the geography of finance and real estate: competing space-times of decision-making and uneven spatial development

    Directory of Open Access Journals (Sweden)

    Sabine Dörry

    2012-11-01

    Full Text Available The versatile ‘city building’ processes are in the focus of this issue. The author’s papers deal with a plurality of related issues such as the complexities of the increasing transparency of local property markets or the tight relations between city planners and (inter-national investors. As the built environment decides on a city’s economic prospect and determines future planning and development opportunities, the consequences of city building processes are multifaceted. Financial processes of urban (redevelopment, for example, are discussed at the cutting edge of a larger process of uneven development, which is rooted in the structure of the capitalist mode of production and fuels controversial debates on the ownership of the city. The current edition aims to attract further attention to the complex of financial matters and the production of the built environment with the intention to locate both more centrally within geography, planning, and economics. Against this background, this introduction spans the idea of the decision-making itself in financial and real estate markets, which can neither be limited to a singular moment nor be separated from the context in which they take place. Disentangling these market interdependencies and illustrating the context dependency of decision-making is a common theme in all of the papers included in this issue.

  13. The dark and the bright side of liquidity risks: evidence from open-end real estate funds in Germany

    OpenAIRE

    Fecht, Falko; Wedow, Michael

    2009-01-01

    We use a unique and comprehensive data set on open-end real estate funds in Germany to study a liquidity crisis that hit this industry between 2005 and 2006. Since this industry is comparably unregulated our data set permits us to contrast competing explanations of liquidity crisis. We find that fundamental factors matter for the liquidity outflow in normal times. During the crisis, however, they do not play a role. During the panic only strategic complementarities drive withdrawals. Furtherm...

  14. Tax duties and entry into the cadastre of real estates: Commentary following the decision of the Constitutional Court of Serbia

    Directory of Open Access Journals (Sweden)

    Cvetić Radenka

    2013-01-01

    Full Text Available This article describes what happened to the rule according to which it was not possible to register property and related rights into the registry on real estates without a prior fulfillment of tax duties related to the transfer of property rights, as well as tax duties in relation to inheritance and donations. Inadequacy of this rule and its incompatibility with our legal system has been assessed through its inconsistency with the Constitutional guarantee on the peaceful enjoyment of property, but also with the property law. Along the same lines the article follows the reasons given by the Constitutional Court in its decision on the inconsistency of the given rule with the Constitution in which the Constitutional Court opined that the rule that was struck down was also contrary to certain principles of the cadastre on real estates, such as the principle of the entry into cadastre. Regardless of the fact that the old rule significantly facilitated tax collection, this still cannot justify its existence and should not serve as the ground for a possible (third re-introduction of this rule into the system.

  15. Using Constructive Alignment to Improve Student Research and Writing Skills: A Case Study of a Master's Program in Real Estate Management

    Science.gov (United States)

    Azasu, Samuel; Berggren, Björn

    2015-01-01

    The purpose of the paper is to describe and analyse efforts to integrate research into teaching in a postgraduate degree program in real estate management. The long term goals of the changes were to increase graduation rates as well as the quality of dissertations. In order to validate our findings, the data for this paper emanate from a three…

  16. Growth, Segregation and Displacement Mechanisms in the Peri-urban of Quito

    Directory of Open Access Journals (Sweden)

    Gustavo Durán

    2016-09-01

    Full Text Available This paper seeks a qualitative approach to the urban periphery of Quito with the purpose of investigating, in the context of the expansion process of the city, the possible effects of real-estate actions in the socio-spatial transformations of the traditional inhabitants of those areas where the urbanizing process intensified. Through the ethnographic method, sample contextualization techniques, passive observation processes and key actor interviews were used. From identifying the transformations in the urban landscapes and the characterization of the most relevant processes and actors within these transformations, it was possible to build empirical evidence on displacement processes and generation of conflicts as a result of urban development in the periphery in Quito.

  17. Essays on land and labor in urbanizing China

    OpenAIRE

    Wu, Yan

    2017-01-01

    In this dissertation I address emerging land and labor issues associated with the rapid urbanization in China over the past decades, including the negative effects of the real estate booms on manufacturing development, land conflicts, and gender inequality among migrants. The thesis consists of six chapters. Chapter 1 offers an introductory discussion on the overarching objective and specific questions of the whole research. Chapter 2 focuses on the effects of housing price appreciation on fi...

  18. Local Culture and Rules as Competitive Strategic Predictor and the Impact on Real Estate Industry Performance in Indonesia

    Directory of Open Access Journals (Sweden)

    Dewa Putu Selawa

    2013-05-01

    Full Text Available Resources and operational environment of a company are known to have important role in its competitive strategic formulation. These three variables also found influencing business performance. However, little is known about the influence of an understanding toward local culture and rules where a company operated on competitive strategic formulation and the impact on business performance. This research is aimed to find out about the influence of an understanding and implementation of Tri Hita Karana as one of intangible strategic resources and the influence of local rules either in form of regional regulation or customary rules on competitive strategic formulation of real estate company operated in Indonesia, whcih is in Bali Province.In order to harmonize company with its environment through three dimensions based on Hindu philosophy (parahyangan as the manifestation of God dimension, pawongan as the manifestation of humanity dimension and palemahan as the manifestation of natural environment dimension, it is proven that understanding and implementation of Tri Hita Kirana have the highest influence from seven strategic resources formulation of a company. In addition, local rules also proven to significantly influence environmental dynamic faced by real estate companies operated in Bali. The research verified that resources owned by and environmental dynamics of a company have significant influence on competitive strategic that further influence business performance measured using Balance Score Card method.

  19. Un-real Estate

    DEFF Research Database (Denmark)

    Ulfstjerne, Michael Alexander

    Based on ethnographic fieldwork in Ordos China the dissertation ‘Un-real Estate’ traces a local economic boom into its subsequent bust. It gives an account of how state as well as non-state actors appropriate state development schemes and the unintended effects resulting from the colluding forces...

  20. Compare. An analysis of jurisprudence of the Dutch Real Estate Appraisal in relation with the vicinity of wind turbines

    International Nuclear Information System (INIS)

    Berenschot, J.H.M.

    2005-11-01

    The central question in this report concerns the impact of recent judgements with regard to the devaluation of houses as a result of wind turbines in the vicinity of those houses. More specific: does the installation of wind turbines near houses effect the so-called Real Estate Appraisal tax for those houses. From four cases it appears that three aspects are important: noise pollution, cast shadow hindrance and visual hindrance, caused by wind turbines [nl

  1. Serengeti real estate: density vs. fitness-based indicators of lion habitat quality.

    Science.gov (United States)

    Mosser, Anna; Fryxell, John M; Eberly, Lynn; Packer, Craig

    2009-10-01

    Habitat quality is typically inferred by assuming a direct relationship between consumer density and resource abundance, although it has been suggested that consumer fitness may be a more accurate measure of habitat quality. We examined density vs. fitness-based measures of habitat quality for lions in the Serengeti National Park, Tanzania. A 40-year average of female reproductive success (yearling cubs per female) was best explained by proximity to river confluences, whereas patterns of productivity (yearling cubs per km(2)) and adult female density (individuals per km(2)) were associated with more general measures of habitat quality and areas of shelter in poor habitat. This suggests that density may not accurately distinguish between high-quality 'source' areas and low-quality sites that merely provide refuges for effectively non-reproductive individuals. Our results indicate that density may be a misleading indicator of real estate value, particularly for populations that do not conform to an ideal free distribution.

  2. The Cartographic Method of Research in Exploring the Real Estate Market - A Case of Using Maps for the Introductory Analyses of the Lublin Suburban Commune of Konopnica

    Directory of Open Access Journals (Sweden)

    Nieścioruk Kamil

    2015-06-01

    Full Text Available The paper deals with the introductory analysis of the real estate market of a suburban commune located near a big (voivodeship capital city. The analysis is based mainly of the cartographic method of research. Besides data mining and preparation, maps play an important role here, presenting values acquired directly from the register of notarial deeds of estate sales and purchases, as well as values resulting from statistic computation, for example mean values of area or price, absolute numbers of transactions or real estate type. The spatial factor is also taken into consideration when it comes to more complex or specific analyses. The influence of distance understood as a metric and time factor, as well as regression analysis results are also visualized on maps. Such presentation is a good step towards advanced analyses providing maps are prepared according to the rules of cartography. The paper stresses that a map can be a great tool in aiding every stage of research, but may also cause misinterpretations and false conclusions when at least basic rules are not complied with.

  3. The Determinant Factors of Real Estate Investment Trust (REIT’s Performance: Evidence from Asian REITs

    Directory of Open Access Journals (Sweden)

    Nor Edi Azhar Binti Mohamad

    2014-01-01

    Full Text Available Normal 0 false false false EN-US X-NONE X-NONE /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-qformat:yes; mso-style-parent:""; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin-top:0in; mso-para-margin-right:0in; mso-para-margin-bottom:10.0pt; mso-para-margin-left:0in; line-height:115%; mso-pagination:widow-orphan; font-size:11.0pt; font-family:"Calibri","sans-serif"; mso-ascii-font-family:Calibri; mso-ascii-theme-font:minor-latin; mso-fareast-font-family:"Times New Roman"; mso-fareast-theme-font:minor-fareast; mso-hansi-font-family:Calibri; mso-hansi-theme-font:minor-latin;} This paper investigates the factors that can influence the Real Estate Investment Trust (REIT’s performance, paying particular attention to the listed REIT’s in Asian.  Samples of 45 Asian listed REITs are selected from five different countries namely Taiwan, Thailand, Malaysia, Hong Kong, Japan and Singapore for 5 years basis from 2007 to 2011 with 225 observations. Study used Net Asset value (NAV and Return as the proxy for REITs performance while risk, dividend yield, net income and size to represent the determinants variable. Applying correlations and multiple regression analysis, the results provide evidence on the association between NAV and return with risk, dividend yield, net income and size of REITs. Results of this study are hoped to help the investors and portfolio managers to deepen their understanding of the dependence factors that might influence the performance of REITs in Asian. Keywords: Net asset value (NAV, Real Estate Investment Trust (REITs, Risk and Dividend Yield.

  4. Urban land takeup and the potential for a crisis in the real estate regime

    Directory of Open Access Journals (Sweden)

    Mariana Giaretto

    2010-07-01

    Full Text Available Urban land takeups have become one of the main problems in Latin American cities within the last twenty years. From a social and critical perspective, the task at hand is double: to discredit common sense views considering take ups are crime offences and fostering poverty criminalization and, at the same time, to critically analyze the relations between the State and the individuals involved in land take ups, so that we may understand the complexity of this problem.By analysing some interviews to individuals involved in social conflicts in the framework of urban land take ups —both by grassroots sectors and municipal officers, and by secondary sources—, to review varied concrete experiences in the city of Cipolletti (Argentina is proposed, focusing in State intervention forms and discussing whether they are or they are not the sign of a structural crisis within the capitalist property regime under new accumulation conditions.

  5. A TUTELA JURÍDICA DO CONSUMIDOR DIANTE DO ATRASO DO INCORPORADOR IMOBILIÁRIO / THE CONSUMER’S LEGAL PROTECTION IN FACE OF REAL ESTATE DEVELOPER’S DELAY

    Directory of Open Access Journals (Sweden)

    Fabrício Germano Alves

    2015-04-01

    Full Text Available This article deals with the legal consequences of the contractor’s delay in delivering the building in a real estate development contract, analyzing the options legally provided to the consumer affected by the delay. The contract of acquisition of an autonomous unit in a real estate development involves, as a rule, supplier and consumer, which attracts the incidence of the protective system established by the Consumer Defense Code. By analyzing the existing regulation, the specialized academic production and courts’ precedents, the objective of this work is to show that the logic that should guide such cases of delay is the liability of the contractor in case of harms of any order inflicted upon the consumer, assuring to the latter the autonomy to remain in the contract or to withdraw from it.

  6. Extracting rents through foreclosures: The rescue of Catalunya Banc as a new urban strategy following the burst of the Spanish bubble

    Directory of Open Access Journals (Sweden)

    Vives-Miró Sònia

    2017-12-01

    Full Text Available Using the paradigmatic example of Catalunya Banc, this paper analyses the Spanish varieties of the new financial engineering used to appropriate urban rent by home dispossession. It aims to contribute to the study of the new forms of financialization that have appeared since 2008. Particular attention is given to the role of the state, the emergence of private equity funds as global real estate owners and how this has translated into a wave of evictions due to mortgage foreclosures. In short, this article highlights the implications of the uneven development resulting from the exhaustion of the so-called Spanish model of accumulation during the real estate boom years.

  7. EIAMUO methodology for environmental assessment of the post-war housing estates renovation: Practical application in Seville (Spain)

    International Nuclear Information System (INIS)

    Garrido-Piñero, Julia; Mercader-Moyano, Pilar

    2017-01-01

    This paper reports on the environmental impact assessment of a specific urban fabric: the housing estate. This urban-growth typology arose in the second half of the twentieth century to supply the existing needs of the time. It involved short-term processes, reduced costs, and lower comfort standards, which are far from present European guidelines. Currently, they represent situations of unsustainability in cities worldwide that are undergoing improvement. Here, the environmental impact assessment and minimization for urban organisms (EIAMUO) methodology is presented. This consists of a system of eco-indicators created specifically for estimating the impacts associated with these fabrics. Through its practical application, a snapshot of the current situation is achieved and the targets designed to minimize the environmental impact are proposed. - Highlights: • An environmental-impact minimization methodology for housing estates is proposed. • The paper presents a new definition for city analysis: urban organism. • The areas for the assessment are energy, water, materials and waste and atmosphere. • Energy and water areas determine most of the housing estate environmental behavior. • The building character prevails in the urban organism's environmental assessment.

  8. Constitutional foundations of the property rights of citizens and organizations for real estate

    Directory of Open Access Journals (Sweden)

    Zarina Kamilevna Kondratenko

    2015-09-01

    Full Text Available Objective to develop a comprehensive scientific conception of the constitutional foundations of the property rights of citizens and organizations for real estate. Methods general and specific scientific methods including formal logical methods hypothesis analysis synthesis deduction induction. The special methods included historical legaltechnical interdisciplinary comparativelegal systemic and other methods of scientific cognition. Results first the Constitution of the Russian Federation does not contain detailed regulation of property relations as they are regulated by the branches of Civil law. Therefore as certain property disputes affect substantial property interests of physical and juridical persons which are not under the protection of property rights in the traditional sense there is a need for a broad interpretation of the relevant provisions of the Russian Constitution. However the mixing of proprietary and contractual rights in this case does not occur. Second the Russian Civil Code reproducing and specifying the constitutional provisions as principles of private law form a direct normative basis of the whole civil law. However the constitutional law attributes a broader meaning to the notions of property and property right than the traditional civil law. Third the possible limitations of the Federal law of the rights of ownership use and disposition of property as well as freedom of entrepreneurship and freedom of contract must meet the requirements of justice to be adequate proportionate be of general and abstract character be not retroactive and not affect the essence of constitutional rights i.e. not limit the scope and application of the substantive content of the relevant constitutional norms.The possibility of such limitations and their nature must be determinedby the need to protect the significant values ndash the foundations of the constitutional system morality health rights and lawful interests of other persons provision

  9. Technoeconomic evaluation of urban plant factories: The case of basil (Ocimum basilicum).

    Science.gov (United States)

    Liaros, Stelios; Botsis, Konstantinos; Xydis, George

    2016-06-01

    Greece is currently in a turmoil, experiencing the effects of more than half a decade of economic crisis. Public health and welfare, jobs and wages, labor market concerning employment as long as employability of the work force, inequality, life satisfaction and housing, tourism and environment, economic and energy poverty are heavily impacted by Greece's disadvantageous economic situation. Real estate market could not have gotten away from the financial commotion, being currently in a halt after years of rapid decline. Fired from the present situation of Greece's real estate market, the present study is concerned with the investigation of alternative ways to support the local real estate market. With respect to sustainable development's ethics, the development, implementation, installation and operation of small, inexpensive plant factories within the urban environment is evaluated. Installations such are those, will encourage the penetration of a new market for the untapped buildings' resource, advancing new investing opportunities, promoting economic growth and productivity while creating a new labor market. The study will rely on the basic principles of Life Cycle Costing Assessment and develop a methodology upon which different scenarios will be evaluated against the "Do Nothing" scenario. Copyright © 2016 Elsevier B.V. All rights reserved.

  10. Rates of Return on Shares of Real Estate Development Companies in Poland in the Years 2001-2015. A Comparative Analysis

    Directory of Open Access Journals (Sweden)

    Dittmann Iwona

    2016-12-01

    Full Text Available The paper presents an analysis of the diversity of real estate development companies listed on the Warsaw Stock Exchange based on the rates of return on their shares which were attained in 2001-2015. The study included 10 real estate development companies. The analysis was conducted for different investment horizons (from 1 year to 10 years, and based on the quartiles of the empirical distributions of the rates of return on the shares of individual companies. The empirical distributions were obtained using a rolling window of observation based on daily share quotation. The diversity of the funds was examined by formulating six hypotheses concerning: the diversity of the quartiles of the distributions of returns on individual funds, the differences between the values of the quartiles of returns for the best and worst companies during each investment horizon, changes in the value of individual quartiles of returns for individual companies along with a lengthening of the investment horizon, differences in the positions of the companies in the rankings of companies based on different investment horizons and having different quartiles being accepted as the criterion for the rankings. The results obtained did not indicate grounds for the rejection of the formulated hypotheses.

  11. KARAKTER FISIK DAN SOSIAL REALESTAT DALAM TINJAUAN GERAKAN NEW URBANISM

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    Timoticin Kwanda

    2001-01-01

    Full Text Available Rapid urbanization will be critical to urban environments. The immediate and most critical urban environment problems facing several big cities, such as Jakarta and Surabaya, what are referred to as the "brown" problems, among them: lack of safe water, pollution from vehicles and industrial facilities, and congestion. To cope with these urban environmental problems, New Urbanism through the Traditional Neighborhood Development (TND believes that it will cure the problems by pedestrian oriented planning, encouraging people to drive less, mixed land uses, higher density, then traffice congestion is reduced,and mitigate air pollution. Moreover, the other physical and social characters are mixed housing types, front porches, more park that will encourage more interaction, then restore a sense of community. Based on this concept, this paper discusses the physical and social characters of real estates in Jakarta and Surabaya. The results show that real estate developments in these suburban areas is one of the causes of urban environment problems. Abstract in Bahasa Indonesia : Cepatnya urbanisasi akan menyebabkan lingkungan perkotaan yang kritis. Masalah lingkungan kritis yang dihadapi oleh kota-kota besar seperti Jakarta dan Surabaya adalah apa yang disebut dengan masalah "warna coklat" yaitu kurangnya air yang sehat, polusi udara yang berasal dari kendaraan bermotor dan industri, serta kemacetan lalu lintas. Untuk menyelesaikan masalah lingkungan ini, gerakan New Urbanism melalui konsep Traditional Neighborhood Development (TND percaya bahwa masalah lingkungan ini dapat diatasi dengan perencanaan permukiman yang berorientasi pada pejalan kaki, multi fungsi, kepadatan tinggi, sehingga mengurangi kendaraan bermotor dan berakibat pada berkurangnya kemacetan lalu lintas dan polusi udara. Karakter fisik dan sosial lainnya adalah multi tipe rumah, taman publik yang lebih banyak dan rumah berteras depan yang akan mendorong interaksi sosial dalam lingkungan

  12. A real-time control framework for urban water reservoirs operation

    Science.gov (United States)

    Galelli, S.; Goedbloed, A.; Schwanenberg, D.

    2012-04-01

    Drinking water demand in urban areas is growing parallel to the worldwide urban population, and it is acquiring an increasing part of the total water consumption. Since the delivery of sufficient water volumes in urban areas represents a difficult logistic and economical problem, different metropolitan areas are evaluating the opportunity of constructing relatively small reservoirs within urban areas. Singapore, for example, is developing the so-called 'Four National Taps Strategies', which detects the maximization of water yields from local, urban catchments as one of the most important water sources. However, the peculiar location of these reservoirs can provide a certain advantage from the logistical point of view, but it can pose serious difficulties in their daily management. Urban catchments are indeed characterized by large impervious areas: this results in a change of the hydrological cycle, with decreased infiltration and groundwater recharge, and increased patterns of surface and river discharges, with higher peak flows, volumes and concentration time. Moreover, the high concentrations of nutrients and sediments characterizing urban discharges can cause further water quality problems. In this critical hydrological context, the effective operation of urban water reservoirs must rely on real-time control techniques, which can exploit hydro-meteorological information available in real-time from hydrological and nowcasting models. This work proposes a novel framework for the real-time control of combined water quality and quantity objectives in urban reservoirs. The core of this framework is a non-linear Model Predictive Control (MPC) scheme, which employs the current state of the system, the future discharges furnished by a predictive model and a further model describing the internal dynamics of the controlled sub-system to determine an optimal control sequence over a finite prediction horizon. The main advantage of this scheme stands in its reduced

  13. Analysis the Appropriate using Standard Costing Applying in Land Cost Component of Real Estate Development Activities: A Case Study of PT Subur Agung

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    Elfrida Yanti

    2011-05-01

    Full Text Available Standard cost is generally used by manufacturing business, which direct material, labor, and factory overhead are cleared allocated. On real estate business in this case PT Subur Agung use standard cost based on three costs, raw land, land improvement and interest expense categories instead of direct material, direct labor and overhead. Developer use these cost to predict the project cost and estimate the pre-selling price, in accordance with the cost estimation classification matrix, the variance range is in the expected accuracy rate by testing the variance percentage between standard cost and actual cost. The additional similar projects in PT Subur Agung also follow the same scope. All these evidences have proved the appropriate using standard costing in land cost component of real estate development activities but how it applies this article will analyze in this particular project with using descriptive and exploratory method. The analysis started by knowing the conceptual situation of PT Subur Agung and the data was presented in tables and calculation with detail explanation. 

  14. Investing in European market real property through reits

    Science.gov (United States)

    Adamuscin, A.

    2010-03-01

    For institutional and private investors, investing in real estate represents an attractive form of the consignment of their money. Real estate provides a regular source of income in the form of the rent from or interest on the credit provided. At the same time, real estate is a good investment instrument, because it provides diversified contributions and security against inflation for investors. In their efforts to diversify risk, investors are expressing growing interest in investing in the whole European Union. The success of Real Estate Investment Trusts (REITs) in the U.S. also opened the door for investing in this market for small investors, which is the reason for the development of this type of investment company in the European arena. One problem concerning the development of European real estate investment funds is the unsolved issue of the harmonization of the legislation and regulatory safety measures, which would enable the creation of a common market for new investment products in Europe.

  15. Real time urbanism

    Directory of Open Access Journals (Sweden)

    Ana Ruiz Varona

    2012-12-01

    Full Text Available Nowadays, given the technological revolution of the society of information, the administrative management of the cities faces a new problem not as related to the projection of the urban space as to the capacity of controlling and measuring the process of direct and centralized production of the cities by part of some non-homogeneous social multitudes, in a hyper-accelerated time towards instantaneity. Against libertarian apologies of the new “participative urbanisms”, the article puts forward a discourse that shows the lost associated to the new problem of temporal instantaneity. In this regard we claim new process of mediation that allow administrations and urbanist monitoring the production of the city. To that end, a previous and necessary step will be the redefinition of the role of a new real time urbanist.

  16. 12 CFR 614.4265 - Real property evaluations.

    Science.gov (United States)

    2010-01-01

    ....4265 Banks and Banking FARM CREDIT ADMINISTRATION FARM CREDIT SYSTEM LOAN POLICIES AND OPERATIONS Collateral Evaluation Requirements § 614.4265 Real property evaluations. (a) Real estate shall be valued on... property and operation where the transaction value exceeds $250,000 and the real estate taken as collateral...

  17. Faktor-Faktor yang Mempengaruhi Pengungkapan Intellectual Capital Pada Perusahaan Property dan Real Estate

    Directory of Open Access Journals (Sweden)

    Soraya faradina

    2016-01-01

    Full Text Available The purpose of this research is to find out the effect of firm age, firm size, leverage, profitability and concentration of ownership on intellectual capital disclosure. The sample of this study is from property and real estate firm that listed on Indonesian Stock Exchange from 2010 until 2014. This research using purposive sampling method, to determine the sample of this research with 80 companies as population and 16 companies as sample. This research using multiple linear regression analyzed method by SPSS program version 22 for windows. Partially, the results of this research indicate that only firm size has an effect on intellectual capital disclosure, while firm age, leverage, profitability and concentration of ownership do not have an effect on intellectual capital disclosure. The result also indicates that firm age, firm size, leverage, profitability and concentration of ownership simultaneously have an effect on intellectual capital disclosure.DOI: 10.15408/ess.v5i2.2350

  18. An APPRAISAL analysis of the language of real estate advertisements

    African Journals Online (AJOL)

    This article focuses on the linguistic choices made by estate agencies in their advertisements of houses, and how these choices compare across two competing agencies in Grahamstown, South Africa – Remax Frontier and Pam Golding Properties. Using Martin and White's (2005) APPRAISAL system, it investigates the ...

  19. Pengaruh Good Corporate Governance Terhadap Kinerja Perusahaan Property Dan Real Estate Yang Terdaftar Di Bursa Efek Indonesia Tahun 2008-2010

    OpenAIRE

    Alhamdi, Ridha

    2013-01-01

    The purpose of this research is to know the influence of Good Corporate Governance to company performance. Board of commissioners, independent commissioners, board of directors and audit committee are independent variables in this study and the company's financial performance as dependent variables which is proxied by return on equity (ROE). The population of this research are property and real estate companies that listed in the year 2008 up to 2010, which publishes an annual report and a...

  20. National Technology Programmes as a Tool to Increase R&D activity in Real Estate Management and Services Case Rembrand

    OpenAIRE

    Tiina Tanninen-Ahonen

    2001-01-01

    The real-estate industry is running the risk of lagging behind in the global competition. The productivity increase in the sector has not been able to match the development of most other industries. The explanation put forward for this underperformance has been the lack of adequate allocation of resources to R&D that has led to suboptimal levels of innovation. Explanatory factors for the low levels of R&D spending has been sought in the fragmentation of the industry and a long tradition of re...