Slum Real Estate: The Low-Quality High-Price Puzzle in Nairobi’s Slum Rental Market and its Implications for Theory and Practice

2008 ◽  
Vol 36 (10) ◽  
pp. 1916-1937 ◽  
Author(s):  
Sumila Gulyani ◽  
Debabrata Talukdar
Keyword(s):  
Real Estate ◽  
Theory And Practice ◽  
High Price ◽  
Rental Market ◽  
Price Puzzle

scholarly journals International Real Estate Review

2013 ◽  
Vol 16 (1) ◽  
pp. 119-133
Author(s):  
Pnina O. Plaut1 ◽  
◽  
Steven E. Plaut ◽  
Keyword(s):  
Human Capital ◽  
Real Estate ◽  
Ethnic Minorities ◽  
Rental Housing ◽  
Residential Property ◽  
Rental Market ◽  
New Immigrants ◽  
The Us ◽  
Rental Property ◽  
Financial Portfolio

The supply of rental housing is by and large provided by landlord households. Little is understood about the factors, beyond financial portfolio considerations, that affect the inclination of people or households to become landlords. Studies of the American rental market have pointed to differences across income, wealth, ethnicity, and education in the willingness to rent out residential property to others. Here, we examine the question for Israel. We find that income and wealth are positively associated with the inclination to be a landlord. Education has an effect in Israel in contrast to the US (and Australia). Human capital in Israel appears to complement with rental property capital, unlike the case for the US and Australia, where they appear to be substitutes. In most cases, rental property in Israel and housing capital in the landlord's primary residence appear to be complementary. Ethnic minorities and new immigrants are under-represented among landlords. For households who own rental property, the income from such rentals is empirically analyzed.

Predatory Inclusion

2019 ◽  
pp. 253-262
Author(s):  
Keeanga-Yamahtta Taylor
Keyword(s):  
African Americans ◽  
Real Estate ◽  
Housing Market ◽  
Black People ◽  
Home Ownership ◽  
Rental Market ◽  
American Society ◽  
The U.S

Homeownership in the U.S. is often touted as a means to escape poverty, build wealth, and fully participate in American society. However, racism in the broader American society ultimately resulted in a racist housing market that excludes Black people from homeownership and depresses the value of property inhabited by African Americans. The perception that Black buyers are risky has continued to fuel predatory practices in real estate. The author notes that African Americans should not be limited to the rental market because of inequality in the housing market. Instead, she suggests people should question American society, a society in which full citizenship is reliant upon home ownership.

scholarly journals A Multi-Attribute Sales Comparison Method for Real Estate Valuation

2019 ◽  
Vol 28 (1) ◽  
pp. 1-11
Author(s):  
András Farkas ◽  
Bogdan Porumb
Keyword(s):  
Real Estate ◽  
Comparison Method ◽  
Theory And Practice ◽  
Distance Functions ◽  
Hedonic Price ◽  
Property A ◽  
Index Method ◽  
Valuation Method ◽  
Real Estate Valuation ◽  
Metric Distance

The theory and practice of real-estate valuation has attracted immense interest over the past decades. This paper is concerned with the sales comparison approach. First, a brief survey of some procedures used worldwide, the sales comparison by adjustments, the hedonic regression and the hedonic price index method, is presented. To improve the versatility of property appraisals a new valuation method, as a combination of multi-objective optimization (MOO) and multi-criteria decision analysis (MCDA) is developed. A unique feature of this model is that it enables the appraiser to evaluate the characteristics of a property on those scales of measurement to which they belong de facto. To comply with this objective, distinct metric distance functions on each scale of measurement, including the two qualitative scales (nominal and ordinal), are employed. After that, the physical worth of a property is derived as a weighted sum of the composite scores. This can be measured on an interval scale. To predict the monetary worth of a property, a simple linear regression model is developed. The benefits of the use of this multi-attribute valuation method is also discussed. A comprehensive real-world study showing the application of the procedure is included.

Real Estate License Laws in Theory and Practice

1931 ◽  
Vol 7 (2) ◽  
pp. 138
Author(s):  
A. D. Theobald
Keyword(s):  
Real Estate ◽  
Theory And Practice

scholarly journals ANALYSIS OF INSTALLATION OF MARKET VALUE OF LAND INDUSTRY OF INDUSTRIAL PRODUCTION

2018 ◽  
pp. 88-93
Author(s):  
A.Yu. Palamar ◽  
Ya.V. Osipenko
Keyword(s):  
Real Estate ◽  
Social Life ◽  
Residential Buildings ◽  
Technical Condition ◽  
Commercial Real Estate ◽  
Theory And Practice ◽  
Practical Application ◽  
Distribution Method ◽  
The Real Estate ◽  
Real Estate Valuation

Purpose: 1) to study the concept of wear in the theory of valuation of real estate; 2) analyze the main types of wear and methods of their assessment; 3) to analyze the requirements for the procedure for determining the technical condition of residential buildings when planning and designing repairs; 4) analysis of the reconstruction and technical inventory of the commercial real estate object; 5) in the given example, determine the accumulated depreciation of the real estate by the method of partitioning. Methodology. Many different methods of estimating the value of real estate have been developed, which shows the importance of this task. However, the practical application of existing techniques is problematic. Most of them follow the international practice of evaluation without taking into account the specifics of legislation and the existing conditions of the economic, urban, political and social life of Ukraine. Findings. Thus, the development of the theoretical foundations of real estate valuation, the improvement of its methods, and the implementation of applied research seem rather relevant and practically significant for land management of settlements. Originality consists in the following: the analysis of the best and most efficient use of the land plot; the calculation of the value of the object of valuation by three independent methods of valuation has been made, namely: the method of taking losses into land improvements; income distribution method; the method of comparing the prices of sales of real estate. Practical value. To date, the situation of the domestic assessment school should be considered as being in the period of formation. A large number of modern methodological developments are based on the theory and practice of assessing foreign developments. Many different methods of estimating the value of real estate have been developed, which shows the importance of this task. However, the practical application of existing techniques is problematic. Most of them follow the international practice of evaluation without taking into account the specifics of legislation and the existing conditions of the economic, urban, political and social life of Ukraine. Keywords: estimation, real estate, tax, rent, foreign experience, land market, land payments

scholarly journals Model for Assessing Strategies for the Implementation of an Investment and Construction Project for the Construction of an Apartment Building by a Developer in Terms of Project Financing

2021 ◽  
Vol 31 (3) ◽  
pp. 347-355
Author(s):  
Valeriya Pukhova
Keyword(s):  
Real Estate ◽  
Construction Project ◽  
Theory And Practice ◽  
Project Financing ◽  
Residential Real Estate ◽  
Apartment Building ◽  
Efficient Operation ◽  
Land Plot ◽  
Design Solutions ◽  
The Cost

The need for improvement of the current mechanism of project financing for the construction of residential real estate arises from the analysis of the theory and practice of financing of the primary housing market. The use of the systemic approach has allowed the author to develop an improved mechanism of project financing, which comprises the principles of project financing, tools, forms of its regulation and methods of implementation of project financing. For efficient operation of the improved mechanism of project financing for the construction of residential real estate, a number of strategies have been proposed for the implementation of an investment and construction project, differing in design solutions, implementation period, marketing policy, rates of filling escrow accounts. The author proposes a scheme for a developer to choose project designs, which is based on the rules for land use and development and urban development regulations. A model for assessing the strategy for the implementation of an investment and construction project in project financing, taking into account the cost of a land plot, interest on a loan, selected design solutions, as well as the return on capital investments, was developed. In order to make a decision on the implementation of one or another investment and construction project for the construction of an apartment building, developers are invited to assess the options for design solutions and draw a conclusion about the most effective one according to the proposed model. The model can be used to assess the influence of the cost of a land plot in the structure of costs when the developer has a model project. It helps take into consideration project designs, the cost of the land plot according to the location of the designed facility, profitability of the expected capital investment and interest on the loan using escrow accounts.

scholarly journals SOME FEATURES OF CONDUCTING RESEARCH IN THE DIVISION OF RESIDENTIAL HOUSES OLD BUILDING

2019 ◽  
Vol 20 (2) ◽  
pp. 470-479
Author(s):  
L. Pugacheva ◽  
K. Osipenko ◽  
D. Adamova
Keyword(s):  
Real Estate ◽  
Residential Buildings ◽  
Theory And Practice ◽  
Technical Equipment ◽  
Residential Real Estate ◽  
Space Planning ◽  
Term Operation ◽  
Planning Decisions ◽  
Common Ownership ◽  
Conducting Research

The solution of issues arising during the research on the division of residential buildings of old buildings is relevant for the theory and practice of conducting forensic examinations related to the development of options for the division of such real estate, given the uncertainty and contradictions in the data of certain documents (technical, legal) that are provided for research and changes in composition residential real estate in common ownership as a result of certain redevelopment actions, builder stvu, reconstruction. Errors (the results of incorrect calculations, inaccuracies, typos, etc.) allowed during the preparation of technical inventory documents, on the basis of which documents of title to real estate are drawn up, affect the calculations when developing options for the division of residential real estate. During long-term operation, all changes in the composition of households that are made by the co-owners of this property at different time periods, such as changes in the space-planning decisions of objects, engineering and technical equipment, landscaping, etc., must be reflected in the documents submitted for the study, including corrected ideal shares in connection with the improvements in residential real estate of the old buildings. These factors affect the completeness of the study and the formation of expert conclusions about the possible division of the old residential buildings. The analysis of normative and legal documentation was carried out, unified approaches to the research on the division of residential buildings of the old buildings were developed taking into account certain factors that affect the results of the conclusions of this type of expertise.

The Impact of the COVID-19 Pandemic on the Private Rental Housing Market in Poland: What Do Experts Say and What Do Actual Data Show?

2021 ◽  
Vol 8 (1) ◽  
pp. 24-35
Author(s):  
Mateusz Tomal ◽  
◽  
Bartłomiej Marona ◽  
Keyword(s):  
Real Estate ◽  
Rental Housing ◽  
Objective Data ◽  
Rental Market ◽  
The Third ◽  
Real Estate Agents ◽  
The Impact ◽  
The City ◽  
Second Wave ◽  
Rental Housing Market

The aim of the article is to determine the impact of the COVID-19 pandemic on the level of housing rents using the example of the City of Krakow. This study is based on objective data on rental prices and subjective information obtained from real estate agents using a questionnaire survey. The research revealed that the first wave of the COVID-19 pandemic actually led to a 6-7% decrease in prices in the rental market in Krakow, while at the same time the surveyed real estate agents had estimated that rents would drop by about 13%. With the second wave of the pandemic, it is possible to see that its immediate impact, i.e. between the third and fourth quarter of 2020, has led to a further 6.25% drop in rents. It should be noted that the latter decrease was very accurately predicted, both by the survey respondents and by the econometric models used. Finally, the results of the analysis also indicated that the worsening of the pandemic in the last quarter of 2020 will have a significant impact on rent levels in Krakow for all of next year. Regardless of how the economy develops, rental prices are forecast to fall further in 2021q1. However, in the subsequent quarters of 2021, rents are projected to increase, but ultimately their level will not return to pre-pandemic values even in 2021q4. The latter is likely to happen only in the second half of 2022.

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