Evolution of the explanatory variables of the price of real estate in Lisbon during the last economic crisis.

2015 ◽  
Author(s):  
Paulo Castanheira
Keyword(s):  
Real Estate ◽  
Economic Crisis ◽  
Explanatory Variables

Airport noise compensation: real estate perspective

2019 ◽  
Vol 12 (2) ◽  
pp. 250-266 ◽  
Author(s):  
Jacek Batóg ◽  
Iwona Foryś ◽  
Jan Konowalczuk
Keyword(s):  
Real Estate ◽  
Noise Level ◽  
Linear Models ◽  
Real Estate Market ◽  
Single Family ◽  
Content Type ◽  
Explanatory Variables ◽  
Noise Compensation ◽  
Restricted Use ◽  
Practical Implications

Purpose This study aims to present a problem of noise compensation related to the localization of single-family houses in the restricted use areas (RUA) created around airports. The authors presented different methodological approaches to the valuation of such amends and characterized distinct solutions applied in that area in chosen countries and cities. Design/methodology/approach To estimate the level of those indemnities, linear models including spatial and generalized linear models, were applied. The set of explanatory variables contains quantitative and qualitative attributes of real estates. The influence of outliers indicated by means of cluster analysis on the received results were also considered. Findings The results show that after accounting for noise level and house characteristics, houses in noisier areas were sold for less than houses subjected to less noise. Unit prices of houses located outside the RUA were on average 17.05 per cent higher than the prices observed in zone with noise level for the daytime of 60 dB and 8.95 per cent in zone characterized by noise level for the daytime of 55 dB. Practical implications Received results can be compared with results obtained by other authors, but its most important application is possibility of use the proposed methodology by judicial appraisers to assess the proper level of noise compensation for home owners or tenants. Originality/value An identification of real estate market heterogeneity and its considering in estimation of compensation related to airport noise evidence some novelty of the research.

Houses of Horror

Dead Pledges ◽  
2016 ◽  
Author(s):  
Annie McClanahan
Keyword(s):  
Real Estate ◽  
Economic Crisis ◽  
Horror Films ◽  
Housing Crisis ◽  
Social Force ◽  
Caveat Emptor ◽  
The Social ◽  
Mother’S Day ◽  
Credit Contracts ◽  
The Relationship

Chapter 4 begins by noting that contemporary discourse on the economic crisis is profoundly shaped by the language of horror and fear. To understand why, this chapter turns to four post-crisis horror films that explicitly link fear, foreclosure, and financialized credit: Drag Me to Hell (dir. Sam Raimi), Dream Home (dir. Pang Ho-cheung), Mother’s Day (dir. Darren Lynn Bousman), and Crawlspace (dir. Josh Stolberg). All four films take up real estate lending, mortgage speculation, and foreclosure risk and locate horror in the “dead pledge” of the mortgage. Using horror and the home-invasion genre to explore the shifting understandings of ownership consequent to the housing crisis, these films frighteningly literalize the doctrine of caveat emptor. Exploring the relationship between “paying back” and “payback,” they suggest that introduction of speculative risk has shifted the social force of credit contracts from the promise of trust to the threat of revenge.

Effects of Transportation Infrastructure and Location on Residential Real Estate Values: Application of Spatial Autoregressive Techniques

2000 ◽  
Vol 1722 (1) ◽  
pp. 1-8 ◽  
Author(s):  
Murtaza Haider ◽  
Eric J. Miller
Keyword(s):  
Real Estate ◽  
Large Data ◽  
Transportation Infrastructure ◽  
Residential Real Estate ◽  
Housing Values ◽  
Data Set ◽  
Explanatory Variables ◽  
Greater Toronto Area ◽  
Spatial Autoregressive ◽  
The Impact

Proximity to transportation infrastructure (highways and public transit) influences residential real estate values. Housing values also are influenced by propinquity to a shopping facility or a recreational amenity. Spatial autoregressive (SAR) models were used to estimate the impact of locational elements on the price of residential properties sold during 1995 in the Greater Toronto Area. A large data set consisting of 27,400 freehold sales was used in the study. Moran’s I was estimated to determine the effects of spatial autocorrelation that existed in housing values. SAR models, using a combination of locational influences, neighborhood characteristics, and structural attributes, explained 83 percent variance in housing values. Using the “comparable sales approach,” a spatiotemporal lag variable was estimated for every property in the database. This research discovered that SAR models offered a better fit than nonspatial models. This study also discovered that in the presence of other explanatory variables, locational and transportation factors were not strong determinants of housing values. On the other hand, the number of washrooms and the average household income in a neighborhood were found to be significant determinants of housing values. Stepwise regression techniques were used to determine reduced spatial hedonic models.

Explanatory factors and limitations of Spanish local debt

2018 ◽  
Vol 31 (2) ◽  
pp. 360-377 ◽  
Author(s):  
Jorge Olmo Vera
Keyword(s):  
Economic Crisis ◽  
Dynamic Models ◽  
Political Factors ◽  
Content Type ◽  
Explanatory Variables ◽  
Explanatory Factors ◽  
The Law ◽  
Generalised Method Of Moments ◽  
Fiscal Pressure ◽  
The Impact

Purpose The purpose of this paper is to evaluate the impact of the Law on Budgetary Stability of 2012 over the level of accumulated debt in Spanish municipalities. The paper also analyses the influence of the socioeconomic environment, political factors and budgetary indicators on the level of accumulated debt for the 2008–2014 period, which coincides with the economic crisis. Design/methodology/approach The paper uses panel data methodology. First, the t-test of difference of means is used to analyse which political variables are significant. Then, the analysis is carried out using the generalised method of moments in order to obtain the explanatory variables of the level of debt. Findings The results show that in 2013–2014, the Law on Budgetary Stability did not have a significant effect on reducing the accumulated debt. However, the law has led to a change of the trend in debt levels, as the debt decreased from 2013 to 2014. Moreover, population, unemployment, immigration, personnel expenditure, direct fiscal pressure and level of investment have an influence over the level of accumulated debt. Originality/value This paper contributes to analyse to what extent the Law on Budgetary Stability has affected accumulated debt. The study reveals a slight impact on reducing debt, although it is not significant. An original aspect of this paper is that it uses dynamic models to study the accumulated debt of Spanish municipalities. The study shows the impact of socioeconomic, environmental and political factors as well as of budgetary indicators on the level of debt in the context of economic crisis.

Residential tourists and the half-life of European cosmopolitanism in post-crisis Spain

2016 ◽  
Vol 53 (1) ◽  
pp. 217-230 ◽  
Author(s):  
Max Holleran
Keyword(s):  
European Union ◽  
Real Estate ◽  
Urban Development ◽  
Economic Crisis ◽  
Half Life ◽  
Ethnographic Research ◽  
Eu Integration ◽  
Real Estate Sector ◽  
Home Construction ◽  
Social Europe

This article examines British homeowners in Spain after the 2008 economic crisis and their struggles to navigate Spain’s troubled real estate sector. It argues that foreign residents previously embraced European cosmopolitanism but disputes over illegal home construction soured their opinion of European Union (EU) integration. Using ethnographic research and interviews, the article shows how these homeowners contested the idea that EU cohesion policies produced uniform legal systems related to housing and urban development. It also shows that while cosmopolitanism was often spurred at the level of formal politics, cosmopolitan ‘practices’ were subtly endorsed to delineate between those who had agency, and were successfully dealing with the crisis, and those who seemed to be floundering. The article confirms contemporary studies of EU regional polarization and the stalled project of creating ‘social Europe’, while showing how personal conceptions of mobility are highly linked to class.

scholarly journals A New Way Of Investing On The Agricultural Real Estate Market In Poland

2014 ◽  
Vol 22 (1) ◽  
pp. 1-8
Author(s):  
Jarosław Szreder ◽  
Piotr Walentynowicz
Keyword(s):  
Real Estate ◽  
Housing Market ◽  
Economic Crisis ◽  
Capital Investment ◽  
Real Estate Market ◽  
Joint Stock Company ◽  
Stock Company ◽  
Big Cities

Abstract When compared to other segments of the market, the agricultural real estate market is a completely different world. While there have been possibilities to observe price corrections over the recent years of the economic crisis, e.g., on the housing market in big cities, on the market of holiday apartments or building plots, the agricultural real estate market remains stable in relation to prices. The average transactional prices of agricultural real properties are gradually growing, and the number of purchase transactions is continuously increasing. Based to the above mentioned trends, the author of the present paper put forward the thesis that investing in agricultural real properties is economically justified during times of economic crisis. One of the best forms of capital investment is that of a limited joint-stock company (S.K.A.).

scholarly journals Econometric Support of a Mass Valuation Process

2020 ◽  
Vol 20 (1) ◽  
pp. 81-94
Author(s):  
Mariusz Doszyń
Keyword(s):  
Real Estate ◽  
Econometric Model ◽  
Econometric Models ◽  
Dummy Variables ◽  
The Real Estate ◽  
Explanatory Variables ◽  
Advantages And Disadvantages ◽  
Proposed Model ◽  
Valuation Process ◽  
The Impact

AbstractResearch background: The issues undertaken in the paper include the specification of an econometric model in real estate mass appraisal. Advantages and disadvantages of using econometric models in real estate mass appraisal are discussed.Purpose: The issue of aiding the valuation process with an econometric model based on the Szczecin algorithm of real estate mass appraisal is discussed in the paper. Such problems like multicollinearity, lack of coincidence and nonmonotonic influence of attributes are pointed out. Also, potential solutions to these problems are mentioned. Moreover, the paper features a discussion of cases in which econometric appraisal is not sufficient.Research methodology: The base for constructing an econometric model is the so-called Szczecin algorithm of real estate mass appraisal. Based on the algorithm, the econometric model was created to enable determining the impact of real estate attributes and location on their value.Results: problems related with specification, estimation and verification of the real estate mass appraisal econometric model are discussed in an empirical example.Novelty: A non-linear model is proposed, which features explanatory variables introduced into the model, and by taking into consideration the scale of their measurement. The proposed model, by introducing dummy variables, also account for the impact of a location, which significantly improves the fit to empirical values.

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