scholarly journals The Urbanizing Frontier, Change and Continuity

2021 ◽  
pp. 339-360
Author(s):  
Anna Mdee
Keyword(s):  
Real Estate ◽  
Service Provision ◽  
Growth And Development ◽  
Real Estate Market ◽  
Development Projects ◽  
Public And Private ◽  
Kilimanjaro Region ◽  
The Village ◽  
Cattle Market ◽  
The Town

Uchira, in Kilimanjaro Region, provides an exception to the chapters in this book which record rising prosperity. Uchira’s economy has declined after the cattle market that it hosted collapsed, and as agriculture has become less and less productive. This chapter charts the growth and development of the village, the changes to its development projects and service provision, and the growth in its real estate market as migrants from Moshi seek relatively affordable houses well connected to the town and with good water supplies. The chapter explores two broad-brush aspects of change in Uchira during this period: livelihoods patterns and public and private infrastructure. It provides a contrasting example of persistent disadvantage compared to other chapters in this collection.

scholarly journals International Real Estate Review

2016 ◽  
Vol 19 (1) ◽  
pp. 27-49
Author(s):  
William Mingyan Cheung ◽  
◽  
James Chicheong Lei ◽  
Desmond Tsang ◽  
◽  
...  
Keyword(s):  
Real Estate ◽  
Price Discovery ◽  
Common Factor ◽  
Significant Proportion ◽  
Real Estate Market ◽  
Reverse Causality ◽  
Public And Private ◽  
Real Estate Markets ◽  
The Public ◽  
Private Real Estate

This study examines whether property transaction affects the price discovery process in real estate markets. Prior literature shows that price discovery generally first takes place in the securitized public real estate investment trust (REIT) market. We conjecture that property transaction provides novel information to the direct real estate market and can change the dynamics between public and private real estate returns. We employ a unique dataset of property transactions to construct "transaction windows¨ and specifically examine the causality between public and private real estate markets around these periods. We form firm-level pairs of public and private price series, and estimate the normalized common factor loadings per Gonzalo and Granger (1995) by using a vector error-correction model. Our findings show that a significant proportion of price discovery happens in the private market instead of the public REIT market. Our results are robust to investments of different property types and different lengths of transaction windows. Overall, the findings in this study imply that property acquisition and disposition provide crucial information to the private real estate market and induce a reverse causality between the public and private markets.

scholarly journals International Real Estate Review

2017 ◽  
Vol 20 (4) ◽  
pp. 417-450
Author(s):  
Kim Hin Ho ◽  
◽  
Satyanarain Rengarajan ◽  
Keyword(s):  
Real Estate ◽  
Real Estate Market ◽  
Future Expectations ◽  
Public And Private ◽  
Vector Autoregressive ◽  
Macroeconomic Conditions ◽  
Knowledge Based ◽  
Knowledge Intensive ◽  
Using Data ◽  
Industrial Real Estate

he behavioural structure of large and strategic industrial real estate accommodation does not exist in a vacuum. Instead, its fundamental investment values and yields are uniquely affected through the dynamic interaction among exogenous and endogenous forces related to the industrial real estate demand-supply conditions, macroeconomic and institutional polices as well as urban industrial plans. This study aims to understand the dynamic behaviour of the industrial real estate market in Singapore that is slowly transitioning from a capital intensive to knowledge intensive economy. Using data obtained from various sources between 2001Q4-2010Q2 which essentially capture three property cycles, we incorporate a vector autoregressive (VAR) approach to holistically model the industrial real estate market in Singapore with respect to its demand-supply conditions, market capitalization rates which encompass information about rental yields, capital values along with future expectations. This study will help policy makers and developers to understand the structure of the industrial real estate market in Singapore along with respect to its macroeconomic conditions. The results are insightful as the data capture both the public and private markets along with a new hi-tech industrial accommodation (science parks), which is slowly gaining prominence as of the turn at the 21st century as Singapore strives to steer towards a knowledge based industrial economy.

scholarly journals MODERN METHODS OF ANALYSIS OF THE CITY DEVELOPMENT

2020 ◽  
Vol 2 (155) ◽  
pp. 16-22
Author(s):  
N. Denysenko ◽  
О. Tryhub ◽  
A. Zavialova ◽  
I. Vakulchyk
Keyword(s):  
Real Estate ◽  
Swot Analysis ◽  
Spatial Development ◽  
Real Estate Market ◽  
City Development ◽  
Strategic Decisions ◽  
Stage Of Development ◽  
Modern Methods ◽  
The Town ◽  
Area Development

There has been substantiated the necessity of using modern methods of socio-economic and marketing analysis of city development in order to make effective strategic decisions. The sequence of conducting the SWOT analysis of an area is generalized. It is proved that the analysis of the area development involves, first and foremost, the search for territorial identity and uniqueness. A modern toolkit for conducting a SWOT analysis of an area is offered, which is an analysis of internal strengths and weaknesses, as well as external opportunities and threats and also justification of the most effective strategies for the area development. It is stated that SWOT-analysis is a necessary element of research, a mandatory preliminary step while drawing up strategic and marketing plans of any level. The data obtained in the result of the analysis serve as the basis for the development of strategic goals and objectives of the area. SWOT analysis enables to assess whether the area has the internal strengths and resources to realize its capabilities and counter threats, and which internal weaknesses require an early elimination. Creating a map of anchors - zones of gravity helps to justify the points of growth when developing strategic decisions. The example of the town of Lutsk shows the objects and territories that can attract potential customer - consumers and encourage the interest in visiting Lutsk increasing the consumer flow. In order to study the strengths and weaknesses of the area in-depth, the real estate market was analyzed and residential real estate was broken down into spatial development categories in Lutsk. There are four categories of local territories in the town: developing, moderately prosperous, moderately depressed, and depressed There has also been carried out a SWOT analysis of the mutual impact of opportunities and threats on the environment and the strengths and weaknesses of Lutsk. The analysis is presented in the form of tables. The factors are ranked by their importance and the final results of the analysis are formulated in the form of sound strategic decisions. It is emphasized that under the current stage of development in Ukraine it is advisable to take into account the available resource potential, uniqueness and competitive advantages of a city/town to overcome weaknesses and threats when determining the optimal development strategy and making effective project decisions. Keywords: strategic approach, city, center of gravity, SWOT analysis, spatial development.

scholarly journals Does Sustainability Affect Real Estate Market Values? Empirical Evidence from the Office Buildings Market in Milan (Italy)

2018 ◽  
Vol 11 (1) ◽  
pp. 12 ◽  
Author(s):  
Alessia Mangialardo ◽  
Ezio Micelli ◽  
Federica Saccani
Keyword(s):  
Real Estate ◽  
Real Estate Market ◽  
Economic Effects ◽  
Office Buildings ◽  
Development Projects ◽  
Environmental Certification ◽  
The Real ◽  
The Real Estate ◽  
Market Values ◽  
Premium Price

The construction industry is the world’s largest consumer of energy and producer of greenhouse gases. For this reason, there is a broad debate on how to make the built environment more sustainable. Although the positive externalities of energy-efficient retrofitting and new construction are known, the economic effects that green building has on the real estate sector in Italy are less evident. The aim of this paper is to analyze the Italian real estate market to investigate if, and to what extent, demand appreciates the supply of green real estate assets. The research focused on the analysis of 55 development projects of office buildings (with and without environmental certification) located in Milan, at present the most dynamic and flourishing real estate market in Italy. Through these case studies the authors investigated the premium price that is generated in certified real estate development projects. The results highlight a premium price, especially for high levels of sustainability. Similarly, the rate of absorption of certified assets reflects a preference for green properties, which are absorbed by the real estate market in less than half of the time foreseen for real estate without an environmental certification.

scholarly journals Directions for the forecast analysis of the life cycle of real estate development projects

Vestnik MGSU ◽  
2019 ◽  
pp. 1196-1204
Author(s):  
Elena A. Gusakova
Keyword(s):  
Life Cycle ◽  
Real Estate ◽  
Life Support ◽  
Development Trend ◽  
Real Estate Market ◽  
Development Project ◽  
Real Estate Development ◽  
Development Projects ◽  
Positive Effects

Introduction. Analytical studies show that monopolization, disparity trends, oversupply, and limited effectual demand become the long-term reality of the real estate market. Such a state of the market stimulates a change of ideas about a successful development project, puts in several relevant and in-demand research of new approaches and concepts of the life cycle of real estate development projects. Materials and methods. The article studies the best Russian and international practices of strategic planning of development projects using the methods of analysis and synthesis of accumulated representative experience. Results. We identified and systematized the main, topical and most popular areas of forecast analysis, which determine the specifics and strategy of development projects. These include studies of the long-term development trend of the region, analysis of the most likely scenarios for the full life cycle of the project and its harmonization with the development trend of the territory, involvement of the interests and needs of the territorial community in the project, analysis of the project’s suitability to the most likely development scenarios, study of the possibilities of consolidating the most significant positive effects life cycle and multiplicative effects of the project. Conclusions. The considered areas of strategic forecast analysis make it possible to withstand the strategy of a real estate development project at all stages of construction and, as a result, manage its life cycle from the project idea to the completion of the project. Prospects and further research include the study of methods of project life cycle management as an element of the life support environment, the subject interpretation of methods and the solution of problems of informatization of models and methods of planning a project strategy.

scholarly journals Governing urban development in the Low Countries: From managerialism to entrepreneurialism and financialization

2018 ◽  
Vol 26 (4) ◽  
pp. 400-418 ◽  
Author(s):  
Jannes Van Loon ◽  
Stijn Oosterlynck ◽  
Manuel B Aalbers
Keyword(s):  
Real Estate ◽  
Urban Development ◽  
Urban Governance ◽  
Real Estate Market ◽  
Municipal Finance ◽  
Low Countries ◽  
Public And Private ◽  
The Real Estate ◽  
Post War ◽  
Private Actors

Has the post-war managerial approach to urban governance in the Netherlands and Flanders been replaced by more entrepreneurial and financialized forms? In this paper, we study the transformation of urban governance in the Low Countries through city case studies of Apeldoorn (Netherlands) and Antwerp (Belgium). We show how Dutch urban governance is financialized by connecting local public finance with financialized real estate markets through municipal land banks. However, inter-municipal financial solidarity and ring-fencing municipalities from financial markets create specific continental European processes of financialization. Flemish municipalities, in contrast, have shifted from a model of laissez-faire urban development (embedded in a system of large municipal autonomy) towards entrepreneurial urban growth regimes, in which technocratic public and private actors have increased access to public financial resources, which are used to create large urban renewal projects. In Belgium, autonomous municipal real estate corporations are a crucial instrument for connecting municipal finance to the real estate market.

scholarly journals Ranking of Sustainability Indicators for Assessment of the New Housing Development Projects: Case of the Baltic States

2017 ◽  
Author(s):  
Laura Tupenaite ◽  
Irene Lill ◽  
Ineta Geipele ◽  
Jurga Naimaviciene
Keyword(s):  
Sustainable Development ◽  
Real Estate ◽  
Real Estate Market ◽  
Sustainability Indicators ◽  
Housing Development ◽  
Development Projects ◽  
Baltic States ◽  
Analytic Hierarchy ◽  
Structured System ◽  
The Baltic

Sustainable development is inconceivable without healthy real estate market. A housing project can be regarded as sustainable only when all the dimensions of sustainability (environmental, economic, and social) are dealt with. There has been an increased interest in using sustainability indicators for evaluating the impacts of the new development projects. Past and recent experiences have shown that sustainability indicators can be useful tools for measuring the outcomes of new construction, when used appropriately and adequately. The aim of this article is to propose an integrated, hierarchically structured system of sustainability indicators to be used for assessment of the new housing development projects in the Baltic States. This aim is achieved through accomplishing three objectives. First, based on a review of literature related to assessing building project performance and sustainable development in construction, the paper proposes a hierarchically structured system of sustainability indicators. Second, based on a survey of experts from the Baltic States, significances of criteria are estimated by the Analytic Hierarchy Process (AHP) method. Finally, paper proposes recommendations to government authorities and real estate developers as to how to enhance the performance of new residential projects according to the principles of sustainability.

Transit Joint Development in the USA: An Inventory and Policy Assessment

1991 ◽  
Vol 9 (4) ◽  
pp. 431-452 ◽  
Author(s):  
J Landis ◽  
R Cervero ◽  
P Hall
Keyword(s):  
New York ◽  
New York City ◽  
Real Estate ◽  
York City ◽  
Cost Sharing ◽  
Revenue Sharing ◽  
The United States ◽  
Real Estate Market ◽  
Development Projects ◽  
Joint Development

The joint development of urban mass transit facilities and private real estate projects has become a popular practice throughout the United States. As of October 1990, 114 transit joint-development projects had been constructed in more than two dozen US cities, although the vast majority of projects have been concentrated in just five cities: New York City, Washington, DC, Philadelphia, Atlanta, and Boston. Of completed joint-development projects 58% have occurred at or near heavy-rail transit stations; another 18% of projects have been developed around commuter rail facilities. Transit joint-development activity can be classified into two basic forms: (1) revenue-sharing arrangements, and (2) cost-sharing arrangements. Of the joint-development projects completed to date, 40% have involved cost-sharing, and 25% have involved revenue-sharing. The remaining projects have involved both types. Joint-development projects have yet to generate very much income to local transit operators, either through capital contributions or through yearly lease payments. Except in New York City, capital contributions from joint development have generally amounted to less than 1% of yearly capital expenditures. This study reveals that there are four conditions necessary for successful joint-development projects. First, the local real estate market must be active and healthy. Second, the agency with the lead responsibility for pursuing joint development must have an entrepreneurial bent. Third, coordination is essential when joint-development projects involve more than one public agency. Fourth, sponsoring agencies need to understand that there are benefits to joint development that go beyond generating revenues. To date, in fact, the direct revenue benefits of joint development have been quite small. The best joint-development projects are those that encourage greater transit usage, create more interesting station environments, and reinforce other planning and development goals.

Sign in / Sign up

Export Citation Format

Share Document