scholarly journals The Total Return and Risk to Residential Real Estate

2021 ◽  
Author(s):  
Piet Eichholtz ◽  
Matthijs Korevaar ◽  
Thies Lindenthal ◽  
Ronan Tallec
Keyword(s):  
Real Estate ◽  
Rental Housing ◽  
Residential Real Estate ◽  
Yield Risk ◽  
The Individual ◽  
Individual Asset

Abstract We estimate total returns to rental housing by studying over 170,000 hand-collected archival observations of prices and rents for individual houses in Paris (1809–1943) and Amsterdam (1900–1979). The annualized real total return, net of costs and taxes, is 4.0% for Paris and 4.8% for Amsterdam and entirely comes from rental yields. Our returns weakly correlate with the implied returns in Jorda et al. (2019) and are substantially lower. We decompose total return risk at the individual asset level and find that yield risk becomes an increasingly important component of property-level risk for longer investment horizons.

scholarly journals Rental Relations in the Sector of Residential Real Estate: Present-Day Aspect

2019 ◽  
Vol 29 (3) ◽  
pp. 499-506
Author(s):  
Anna Pakhomova ◽  
Andrey Novikov
Keyword(s):  
Real Estate ◽  
Supply And Demand ◽  
Rental Housing ◽  
Real Estate Market ◽  
Residential Real Estate ◽  
Economic Stability ◽  
The Real Estate ◽  
Rental Market ◽  
System Perfection ◽  
Household Incomes

The rental market of residential real estate has not been fully formed, and, in addition, in this sector there are problems of developing rental relations in the field of residential real estate that prevent the development of their sustainable system. Perfection of the sector of residential real estate rent is necessary for providing economic stability in the country and developing the rental housing market. The article examines the concept and brings forth a classification of residential real estate, characterizes the legal basis of rental relations, the problems of development of such relations in the sector of residential real estate. A particular emphasis is placed on improving the system of rental relations which includes balancing supply and demand in the rental market, establishment of rent in accordance with the household incomes, as well as development of rental services in the sector of residential real estate which are provided by intermediary firms in the real estate market.

scholarly journals Primary and Secondary Residential Real Estate Markets in Poland – Analogies in Offer and Transaction Price Development

2013 ◽  
Vol 21 (1) ◽  
pp. 39-48 ◽  
Author(s):  
Iwona Dittmann
Keyword(s):  
Real Estate ◽  
Real Estate Market ◽  
Secondary Market ◽  
Residential Real Estate ◽  
Capital Cities ◽  
Real Estate Markets ◽  
Transaction Prices ◽  
National Bank ◽  
Market Transaction ◽  
The Individual

Abstract The paper presents the results of a comparison of the development of mean offer and transaction prices per 1m2 in primary and secondary residential real estate markets in 16 provincial capital cities in Poland, during the time period from the 3rd quarter of 2006 to the 3rd quarter of 2012. The quarterly data came from the residential real estate price database of the National Bank of Poland (NBP). The research concerns the dependencies in the residential real estate market between the following four price categories: offer prices in the primary market, transaction prices in the primary market, offer prices in the secondary market and transaction prices in the secondary market. For each city, the dynamics of each price category per 1m2, the existence of a linear correlation between the individual mean price categories in chosen subintervals and their convergence and variability in time were studied and compared.

Overview of Tools for Increasing Effective Demand and Characteristics of Residential Property Buyers

2020 ◽  
pp. 3-9
Author(s):  
KHORKINA G.A. ◽  
◽  
BOGDANOVA Yu.N. ◽  
Keyword(s):  
Real Estate ◽  
Economic Situation ◽  
Residential Property ◽  
Housing Sector ◽  
Residential Real Estate ◽  
Economic Activities ◽  
Official Statistics ◽  
Effective Demand ◽  
Real Estate Developers ◽  
New Buildings

This paper is based on a study consisting of two semantic blocks. In the first block, the existing tools for increasing effective demand in the market of new buildings in Moscow are considered. The most popular tools for increasing effective demand are identified. The second block provides an overview of the characteristics of real and potential buyers of residential real estate in Moscow. Identifying the characteristics of real buyers is based on data published by analytical and consulting companies, as well as real estate developers. Identification of the characteristics of potential buyers was carried out on the basis of official statistics and information published by the Recruitment Agency. The analysis of the characteristics of buyers was carried out in the context of economic activities, in the context of specialization and qualifications, and the level of wages. The areas of employment, specialties are identified, and the level of wages of a person who is potentially more accessible to purchase housing is estimated. The number of people who, in accordance with the size of their salary, can buy housing in the property is estimated. As a result of the work, the expediency of analyzing the buyer’s portrait (including potential one) on a regular basis is justified in order to implement more flexible regulation of the housing sector, taking into account the needs of city residents and the socio-economic situation.

Assessing the Demand for Online Integration Platforms in the Real Estate Business

2020 ◽  
Vol 26 (1) ◽  
pp. 46-54
Author(s):  
N. S. Alekseeva ◽  
A. E. Druzhinin
Keyword(s):  
Real Estate ◽  
Real Estate Market ◽  
Passenger Transport ◽  
Integration Platform ◽  
Online Platform ◽  
The Real ◽  
The Real Estate ◽  
The Real Estate Market ◽  
Hospitality Sector ◽  
The Individual

Examination of the real estate market shows that implementing innovations in this field is a very difficult task. This prompts the question of the necessity of digitalizing the real estate business and of the demand for online integration platforms in this field.Aim. The presented study aims to assess the demand for online integration platforms in the real estate business.Tasks. The authors compare the online integration platforms in the real estate market with the online integration platforms in the hospitality sector and the individual passenger transport market in terms of the share of user profits that integrators receive for their services on the online platform; compare the share of user profits that integrators receive for their services on the online platform with the equivalent indicator in various other global economic activities; assess the value of the services provided by an online integration platform using the methodology proposed by G. G. Azgaldov and N. N. Karpova.Methods. The data were acquired from public Internet sources and personal interviews with the directors of companies that represent or employ the services of online integration platforms in St. Petersburg. The interviews and work with Internet sources were conducted in November 2019.Results. An integrator in the real estate market receives a share of profits of their service users that is comparable to that of the integrators in the hospitality sector and the individual passenger transport market. The share of profits of a Russian integrator in the real estate market is significantly higher than that in such industries as entertainment, fashion, or sports. The value of an online integration platform can be defined as highly valuable, since the expected value of this indicator is 1.5 times higher than the maximum table value.Conclusions. The performed analysis shows a high demand for online integration platforms in the real estate business. Market participants are willing to pay for the ability to use new digital technologies.

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