scholarly journals The Impact of the Real Estate Crisis on a South European Metropolis: From Urban Diffusion to Reurbanisation

2021 ◽  
Author(s):  
Massimiliano Crisci
Keyword(s):  
Real Estate ◽  
Urban Sprawl ◽  
Social Impact ◽  
Real Estate Market ◽  
The Real Estate ◽  
Urban Core ◽  
Original Dataset ◽  
Long Time ◽  
The Impact ◽  
The City

AbstractBeginning in the 1970s, the urban core of the Rome Metropolitan Area (RMA) experienced four decades of intense depopulation and urban diffusion, which caused a considerable social impact. On the basis of an original dataset on residential mobility within the city of Rome, this paper aims to show that the RMA is currently experiencing a new stage of reurbanisation resulting from the bursting of the housing bubble after the 2008 crisis. Unlike other European contexts, the RMA repopulation is lacking forms of “urban resurgence” and is taking place in one of the most difficult periods of the city’s recent history. Paradoxically, the trend of private real estate market succeeded to stop urban sprawl where for a long time public decision-maker had failed. This created an opportunity to finally govern the process and steadily halt the urban diffusion, implementing targeted residential densification measures aimed at stabilising the demographic recovery of the urban core and preventing a return to urban sprawl.

scholarly journals The Influence of Traffic Noise on Apartment Prices on the Example of a European Urban Agglomeration

2020 ◽  
Vol 12 (3) ◽  
pp. 801 ◽  
Author(s):  
Agnieszka Szczepańska ◽  
Adam Senetra ◽  
Monika Wasilewicz-Pszczółkowska
Keyword(s):  
Real Estate ◽  
Traffic Noise ◽  
Real Estate Market ◽  
Infrastructure Projects ◽  
The Real Estate ◽  
The Road ◽  
Key Factor ◽  
City Construction ◽  
The Impact ◽  
The City

Traffic noise is one of the key determinants of apartment prices. The real estate market is highly sensitive to adverse environmental factors, which explains significant variations in apartment prices. The aim of this study was to identify the correlations between traffic noise levels and the prices of apartments traded on a local real estate market. The study analyzed three residential districts in the city of Olsztyn in north-eastern Poland. The database covered 5259 transactions concluded in 2005–2018. The collected data were standardized in terms of technical and functional parameters, and noise was the key factor differentiating the evaluated property. The relationships between the explained variable (apartment price) and the explanatory variable (traffic noise) were determined by linear correlation analysis. A negative correlation was noted, which confirms that a building’s location relative to the road network and, consequently, the level of traffic noise, is one of the factors that play a role in the potential buyers’ choice of property. The results of the study also indicate that the impact of traffic noise on the decisions made by real estate buyers continued to decrease in the analyzed period. Infrastructure projects in the city (construction of tramway lines and a ring road) have visibly reversed the previously observed trends and have decreased the strength of the above correlations in the evaluated residential districts. The values of the correlation coefficient were stabilized below the level noted in earlier stages of the analysis after the completion of the major infrastructure projects.

scholarly journals Analysis of the real estate market in the city of Lublin (Poland) from the perspective of spatial development

2020 ◽  
Vol 171 ◽  
pp. 02007
Author(s):  
Patrycja Pochwatka
Keyword(s):  
Real Estate ◽  
Urban Sprawl ◽  
Spatial Development ◽  
Real Estate Market ◽  
Real Property ◽  
Luxury Goods ◽  
The Real Estate ◽  
Modern Times ◽  
The Real Estate Market ◽  
The City

Real estate, in modern times, is exclusive merchandise, because it is in limited supply and is relatively high-priced compared with goods such as food, clothing, luxury goods. Properly conducted spatial planning can bring measurable benefits to both citizens and investors. This study aims to explore the directions of spatial development in the city of Lublin through an analysis of undeveloped properties sold over a study period of twenty-one months. The main objective of the study was to assess the conditions of spatial development in the city. Data from the Register of Prices and Values for Real Estates were analyzed and visualized cartographically. The number of sales of real property located on the outskirts of the city was far larger than for property situated in the central part of the area studied. During the analyzed period, a total area of 0.8895 km2 of land was sold in Lublin, which represents about 0.6% of the entire city area. Vast areas were sold in the districts located on the outskirts. Unsurprisingly, the smallest percentage of land was sold in the central part of the city. The trends observed on the undeveloped real estate market are helpful in assessing the level of suburbanization or urban-sprawl. Besides, the usefulness of cartographic methods for real estate market studies was stressed.

scholarly journals Trust in a viable real estate economy with disruption and blockchain

Facilities ◽  
2018 ◽  
Vol 36 (1/2) ◽  
pp. 103-120 ◽  
Author(s):  
Jan Veuger
Keyword(s):  
Real Estate ◽  
Value Chain ◽  
Social Impact ◽  
Real Estate Market ◽  
Content Type ◽  
Real Estate Markets ◽  
The Real ◽  
The Real Estate ◽  
The Real Estate Market ◽  
The Impact

Purpose The real estate world finds itself at a tipping point of a transition: a dramatic and irreversible shift in (real estate) systems in society. This paper is a State of the art of Disruption, Blockchain and Real Estate in the Netherlands and international. Design/methodology/approach The following questions were asked to all those involved: What do you think is the essence of Blockchain for real estate? What is the most current situation with respect to Blockchain and real estate from your perspective? Which publications are important from your perspective? What do you expect with respect to the impact of Blockchain on real estate for (social) real estate? What are questions for the future for real estate and Blockchain? In addition, interviews, exploratory conversations and correspondence took place, and the content was peer reviewed. Findings Changes in value concepts affect the valuation of real estate and the thinking about it. The orientation of changing users and owners of real estate affects innovativeness, values and flexibility in managing that property. Orientation on disruption must be seen as proof that the real estate world is able to actually innovate the accumulated assets and consolidate this. The financial and real estate markets are markets that exaggerate through irrational behaviour. Fear of “eat or be eaten” determines people’s behaviour. Financial and thus real estate markets are always unstable and must always be regulated by people and organizations. Research limitations/implications The question that remains is whether it is important to look at disruptive innovations in existing markets or newcomers in the real estate market and Blockchain. The question is whether Blockchain is only a technological disruption, or a real game changer, and whether the entire value chain of the real estate market will embrace it. No two disruptions are the same. Trust in Blockchain is a prerequisite for guiding the predictable form of that disruption where start-up companies use new technology to offer cheaper and inferior alternatives to real estate in the market. You could also talk about anti-fragile value: “Some things benefit from shocks; they thrive and grow when exposed to volatility, randomness, disorder, and stressors and love adventure, risk, and uncertainty. Yet, in spite of the ubiquity of the phenomenon, there is no word for the exact opposite of fragile. Let us call it antifragile” (Taleb, 2012), in other words: attention to disruption and Blockchain creates a viable real estate economy. Practical implications The true meaning of the Blockchain technology for real estate still needs to be investigated. The author is still curious to understand and clarify the value of Blockchain for real estate processes. Doubt continues to exist and is therefore a feeding ground for further research, because we do not know what we have not seen. Social implications Looking at the impact of Blockchain on real estate, a number of conclusions can be drawn. First of all, the relationship between Blockchain and real estate has not yet been proven in practice. It is expected to develop further in the form of registering transaction processes and the DNA passport of a real estate object. Secondly, completeness and transparency are the basic ingredients for trust in the system. Third, real estate wants to remain viable. For this reason, taking the offense is necessary for real estate and management to connect with social demand. Behaviour also leads to new earnings models of the social and economic spin-off of disruptive real estate. If the Dutch real estate sector embraces Blockchain and is able to realize innovations, there are opportunities for real estate entrepreneurs to exploit the disruptive character to provide those new services. Originality/value The way in which disruption, Blockchain and real estate will develop in the coming years are not the only obvious characteristics of a particular era but also its social impact and user behaviour. This also applies to how this real estate transition can best be tracked, guided and utilized in society at the international, national and regional level. Disruptive organizations clearly respond to the viability of the (built) environment and therefore determine competitive strength. This affects the current and future valuation of real estate.

scholarly journals Impact of COVID-19 Pandemic on Retail Structure in Barcelona: From Tourism-Phobia to the Desertification of City Center

2021 ◽  
Vol 13 (15) ◽  
pp. 8215
Author(s):  
Lluís Frago Clols
Keyword(s):  
Multiple Scales ◽  
Real Estate Market ◽  
Structured Interviews ◽  
City Center ◽  
Urban Theory ◽  
The Real Estate ◽  
Tourist Flows ◽  
Before And After ◽  
The Impact ◽  
The City

COVID-19 has meant major transformations for commercial fabric. These transformations have been motivated by the collapse of consumer mobility at multiple scales. We analyzed the impact of the collapse of global tourist flows on the commercial fabric of Barcelona city center, a city that has been a global reference in over-tourism and tourism-phobia. Fieldwork in the main commercial areas before and after the pandemic and complementary semi-structured interviews with the main agents involved highlight the relationship between global tourist flows and commercial fabric. The paper shows how the end of global tourism has meant an important commercial desertification. The end of the integration of the city center into global consumer flows has implications for urban theory. It means a downscaling of the city center and the questioning of traditional center-periphery dynamics. It has been shown that the tourist specialization of commerce has important effects on the real estate market and makes it particularly vulnerable. However, the touristic specialization of commercial activities as a strategy of resilience has also been presented. This adaptation faces the generalized commercial desertification that drives the growing concentration of consumption around the online channel.

scholarly journals Street Names through Sociological Lenses. Part II: Constructionism and Utilitarianism

2020 ◽  
Vol 0 (0) ◽  
Author(s):  
Mihai Stelian Rusu
Keyword(s):  
Social Change ◽  
Real Estate ◽  
Urban Space ◽  
Social Constructionism ◽  
Place Branding ◽  
Real Estate Market ◽  
Previous Issue ◽  
The Real Estate ◽  
The Real Estate Market ◽  
The City

AbstractAs toponymic means of inscribing urban space, street names have been addressed mainly by human geographers, who have articulated the field of critical place-name studies. In this paper, I continue the endeavor started in the previous issue published in Social Change Review of reading street names through sociological lenses. Whereas in the first part of this two-part contribution the analysis was made from functionalist and conflictualist perspectives, this second and final part employs social constructionism and the utilitarian theoretical tradition in making sociological sense of street nomenclatures. First, conceiving of street names as forming discursively constructed linguistic landscapes, the paper shows how urban namescapes – the “city-text” – are written, erased, and rewritten to reflect the shifting political powers. Second, the paper examines the neoliberal processes of place branding and toponymic commodification by which street names are turned into sought-after urban commodities with transactional value on the real estate market. The paper concludes by inviting sociologists to join the conversation on street names, which should become an important topic of sociological reflection.

The role of project financing in the development of the real estate funding market in Russia

2021 ◽  
Vol 27 (4) ◽  
pp. 894-912
Author(s):  
Tat'yana A. RUBLEVA
Keyword(s):  
Real Estate ◽  
Systems Approach ◽  
Complex Structure ◽  
Real Estate Market ◽  
Digital Economy ◽  
Project Financing ◽  
The Real ◽  
The Real Estate ◽  
Object Oriented Design ◽  
The Impact

Subject. This article examines the impact of project financing on the development of the real estate funding market in the context of the transition to the digital economy. Objectives. The article aims to define the features of project financing in the property construction and its development prospects in the context of the transition to the digital economy. Methods. For the study, I used comparative and logical analyses, object-oriented design, and the systems approach. Results. The article defines the essence of project financing and its role in the development of the real estate funding market in the transition to the digital economy. It describes a number of features of project financing in construction and compares them with the features of project financing of innovative industrial projects. The article shows how to solve existing problems in this area and offers a use case diagram that helps develop a software product relevant to the real estate funding market. Conclusions and Relevance. The real estate funding market is a complex structure and it includes the synergy of the real estate market, banking market, and the financial market. Project financing is an integral part of the real estate funding market. It stimulates the development of quality consulting services in the market and produces key requirements for the profession of the next generation. The results of the study can be used to improve banking activities in project financing and when creating quality services of consulting companies in the real estate funding market.

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