Mobiler Immobilienmarkt? Finanzmarkt und Immobilienökonomie

2004 ◽  
Vol 48 (1) ◽  
Author(s):  
Susanne Heeg
Keyword(s):  
Real Estate ◽  
Financial Market ◽  
Real Estate Market ◽  
Real Estate Industry ◽  
Fundamental Change ◽  
The Real ◽  
The Real Estate ◽  
Financial Deregulation ◽  
Starting Point ◽  
The Real Estate Market

Mobilization of the real estate market? Financial market and real estate economy. Since the late 1980s the real estate industry in Germany is transforming from a locally embedded industry towards an internationally oriented one. In this article it is asked how this fundamental change was possible and how the internationalisation is taking place and is coordinated. A starting point of the internationalisation is the deregulation of the national financial system which resulted in a mobilisation and professionalisation of real estate agents. After describing the changes in the politicoinstitutional embedding of the real estate market, the restructuring of networks and its effects upon spatio-economic patterns is analysed. By dividing the real estate market in an user, land, developer and investment market it is possible to show different degrees of internationalisation in the markets and the interdependency of the different market agents upon each other. It is claimed that the financial deregulation is a central motor in transforming the spatial orientation of the agents.

scholarly journals Exchange Rate Risk On The Mortgage Market

2015 ◽  
Vol 23 (4) ◽  
pp. 74-84
Author(s):  
Ewa Siemińska ◽  
Małgorzata Krajewska
Keyword(s):  
Exchange Rate ◽  
Real Estate ◽  
Financial Market ◽  
Real Estate Market ◽  
Exchange Rate Risk ◽  
Currency Risk ◽  
The Real ◽  
The Real Estate ◽  
The Real Estate Market ◽  
National Bank

Abstract Strict connections of the real estate market with the financial market are an unquestionable phenomenon at every level of investing, starting from the lowest individual investor, and finishing with national and transnational players. One of the more interesting examples of such a dependency is the problem of the risk of financing the real estate market, which results from numerous macro-, mezo- and microeconomic conditions, including, inter alias, the phenomenon of capital migration, supranational bank regulations or the development of currency exchange rates on world markets. The most recent example of such a dependency is, among others, the decision of the National Bank of Switzerland from the beginning of 2015 to abandon the Swiss franc-euro cap, which will go down in the history of the world financial market. Its global effects will surely be very difficult to assess, while the resulting turbulences and consequences for many (institutional, corporation and individual) market participants cause, on the one hand, awaiting a reaction and actions aimed at helping entities affected by the consequences of the mentioned decision and, on the other, many questions and doubts. The paper will present current selected aspects concerning currency risk in the context of financing the residential real estate market and the directions of actions prepared in reaction to the abovementioned risk. Polish conditions will be presented against the background of examples of foreign solutions. The aim of the work is to present: the essence of currency risk in the context of the current financial situation of the Polish banking sector, the most important directions of proposals for remedial actions aimed at mitigating the effects of the significant increase in the exchange rate of the Swiss franc in relation to the Polish currency, a short overview of selected solutions/regulations regarding the exchange rate risk of mortgages taken out in a foreign currency in other countries. The method employed was the critical analysis of the most-recent reports and recommendations of the National Bank of Poland, Polish Financial Supervision Authority, Polish Banking Union, and other experts on the subject of financing the real estate market, as well as a comparative analysis of solutions regarding currency risk in selected countries.

Visual Documents, Property Archives, and the Map of the City of Rome: 1563–1712

2012 ◽  
Vol 71 (3) ◽  
pp. 278-305
Author(s):  
David Friedman
Keyword(s):  
Sixteenth Century ◽  
Real Estate ◽  
Real Estate Market ◽  
Fundamental Change ◽  
The Real ◽  
The Real Estate ◽  
The Real Estate Market ◽  
First Time ◽  
The City ◽  
The Way

The libri delle case are inventories of buildings that were produced by the pious institutions of Rome—convents, confraternities, hospitals—beginning in the second half of the sixteenth century. They are based on images—first plans, later elevations and even sections—and for that reason are different from all earlier inventories. In Visual Documents, Property Archives, and the Map of the City of Rome: 1563–1712, David Friedman discusses how the introduction of images transformed both the organization and the content of the archives. Introduced at a moment of dramatic change in the real estate market, they are the means by which the documentary record focused for the first time on the physical qualities of property. The plans document a fundamental change in the way the city itself was understood. First recorded as isolated objects, the houses of the later libri are set in increasingly wide physical contexts, reflecting a vision of the city as a continuous spatial field.

scholarly journals The Problem of Real Estate Research Area Selection for the Purpose of Appraisal Process

2013 ◽  
Vol 21 (3) ◽  
pp. 25-34
Author(s):  
Małgorzata Krajewska
Keyword(s):  
Real Estate ◽  
Research Area ◽  
Real Estate Market ◽  
Legal Regulations ◽  
Area Selection ◽  
The Real ◽  
The Real Estate ◽  
Starting Point ◽  
The Real Estate Market ◽  
Market Areas

Abstract The following article contributes to the discussion on the issue of the interference of legal regulations on the procedure of real estate appraisal, which is as an economic activity. A special dose of attention is drawn to the selection of the research area of the real estate market. Legal regulations referring to this selection as well as, economic factors based on the preferences of buyers have been described. The application of quality-based methods of marketing has been indicated as a possible means of diagnosing the real estate market, bringing satisfactory results even in the case of limited as well as complex markets, such as suburban areas. On the basis of the Bydgoszcz agglomeration, it was proven that real estate market interference areas do not correlate with the administrative borders of cities or districts. Furthermore, an appraisal of land located in a suburban area of Bydgoszcz was performed twice by varying means, accepting data from different market areas: local (the territory of the commune) and supralocal (the territory of the commune and partially, the city), thus indicating the considerable influence of research area selection on the estimated value. The acquired research results may serve as a starting point for further analyses of other local markets.

“I Am Not Co-op!”: The Struggle over Middle-Class Housing in 1970s New York

2017 ◽  
Vol 43 (6) ◽  
pp. 864-885 ◽  
Author(s):  
Benjamin Holtzman
Keyword(s):  
New York ◽  
Real Estate ◽  
Rental Housing ◽  
Real Estate Market ◽  
Real Estate Industry ◽  
Middle Income ◽  
The Real ◽  
The Real Estate ◽  
The Real Estate Market ◽  
The City

In 1970s New York, landlords and major real estate associations argued that New York could stem the exodus of middle-income residents by creating greater opportunities for homeownership in a city that had long been dominated overwhelmingly by renters. They proposed converting middle-income rental housing into cooperatives, a process that would also enable former landlords to profit handsomely. Tenants, however, widely rejected apartment ownership, preferring the security of rent-regulated housing. This article traces the ensuing struggles between tenants, the real estate industry, and city officials over the nature of moderate- and middle-income housing in New York. The eventual success of the real estate industry enabled cooperative conversions to expand dramatically in the 1980s, but only by bargaining with tenants and activists, offering tenants noneviction plans, and discounting prices. This process helped to transform the city by underwriting a momentous turnaround in the real estate market, while signaling a larger embrace of market deregulation.

Die Macht der Zahlen

2015 ◽  
Vol 59 (1) ◽  
Author(s):  
Nadine Bitterer ◽  
Susanne Heeg
Keyword(s):  
Real Estate ◽  
Real Estate Market ◽  
Real Estate Industry ◽  
Property Market ◽  
Real Estate Markets ◽  
The Real ◽  
The Real Estate ◽  
Local Characteristics ◽  
The Real Estate Market ◽  
Calculative Practices

The power of figures. Calculative practices in the real estate industry. This article examines the role and importance of calculative practices in the process of establishing a global property market. We argue that these practices have contributed to the transformation of the property market into a calculable relation which makes it possible to perceive and assess the real estate market and its objects internationally. Comparability - which includes the transformation of social, political and economic conditions into numbers - has created the context in which investment decisions take place because they suggest transparency and calculability. These practices are created and shared in a network of global real estate professionals and go along with strategies of territorializing and delineating markets. Yet, as we will argue, some local characteristics prove to be persistent and difficult to handle in global calculations. Thus, assessing global real estate markets still implies the challenge to combine local knowledge and global calculation.

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