The Analysis of Efficiency Before and After Relocation of Public Institutions : Focusing on the Korea Real Estate Board

2021 ◽  
Vol 19 (3) ◽  
pp. 33-63
Author(s):  
Kiwi Chung ◽  
◽  
Injeong Park ◽  
Yujeong Park ◽  
Minsu Mo
Keyword(s):  
Real Estate ◽  
Public Institutions ◽  
Before And After

ANALISIS KINERJA KEUANGAN PERUSAHAAN PROPERTI YANG TERDAFTAR DI BEI SEBELUM DAN SESUDAH KEBIJAKAN LOAN TO VALUE

2019 ◽  
Vol 4 (1) ◽  
pp. 79-90
Author(s):  
Ghaniy Ridha Prima ◽  
Hermanto Siregar ◽  
Ferry Syarifuddin
Keyword(s):  
Real Estate ◽  
Financial Performance ◽  
Stock Exchange ◽  
Sample Selection ◽  
Test Analysis ◽  
Asset Return ◽  
Return On Equity ◽  
Analysis Technique ◽  
Significant Difference ◽  
Before And After

The purpose of this study is to provide empirical evidence of the effects of the Loan to Value (LTV) policy on the financial performance of property and real estate companies listed on the Indonesia Stock Exchange (IDX). The sample selection uses a purposive sampling method of 42 property and real estate companies that meet the criteria. The research period is divided into 2 namely before the Loan to Value policy (2013-2014) and after the Loan to Value policy (2016-2017) with the Paired Sample t Test analysis technique. The test results show if the current ratio, Return on Asset, Return on Equity and Debt to Asset have significant differences between before and after the LTV policy is applied. While the fast ratio, cash ratio, net profit margin and Debt to Equity did not show a significant difference. Keywords: Financial Performance, Loan to Value, Property and Real Estate, Profitability Ratio, Liquidity Ratio, Solvability Ratio.

scholarly journals POWER LAWS IN REAL ESTATE PRICES DURING BUBBLE PERIODS

2012 ◽  
Vol 16 ◽  
pp. 61-81 ◽  
Author(s):  
TAKAAKI OHNISHI ◽  
TAKAYUKI MIZUNO ◽  
CHIHIRO SHIMIZU ◽  
TSUTOMU WATANABE
Keyword(s):  
Real Estate ◽  
Power Law ◽  
House Price ◽  
Power Laws ◽  
Cross Sectional ◽  
Price Distribution ◽  
Before And After ◽  
Real Estate Prices ◽  
Using Data ◽  
The U.S

How can we detect real estate bubbles? In this paper, we propose making use of information on the cross-sectional dispersion of real estate prices. During bubble periods, prices tend to go up considerably for some properties, but less so for others, so that price inequality across properties increases. In other words, a key characteristic of real estate bubbles is not the rapid price hike itself but a rise in price dispersion. Given this, the purpose of this paper is to examine whether developments in the dispersion in real estate prices can be used to detect bubbles in property markets as they arise, using data from Japan and the U.S. First, we show that the land price distribution in Tokyo had a power-law tail during the bubble period in the late 1980s, while it was very close to a lognormal before and after the bubble period. Second, in the U.S. data we find that the tail of the house price distribution tends to be heavier in those states which experienced a housing bubble. We also provide evidence suggesting that the power-law tail observed during bubble periods arises due to the lack of price arbitrage across regions.

scholarly journals Limits of exercising the rights to leasing out property by public institutions of higher education

2020 ◽  
pp. 7-12
Author(s):  
Mykola Moroz
Keyword(s):  
Higher Education ◽  
Real Estate ◽  
Educational Institution ◽  
Public Institutions ◽  
Educational Institutions ◽  
Institutions Of Higher Education ◽  
Higher Educational Institutions ◽  
The Public ◽  
Higher Educational ◽  
The Right

Problem setting. Leasing out property that is involved in educational, academic, training and production, scientific activities by the public institutions of higher education often leads to violation of the rights of other participants in educational activities. They are sure to be a result of violating the limits, established by the current legislation, of exercising the rights to leasing out property by the public institutions of higher educational. Analysis of recent researches and publications. The issues of state property lease have been studied by many scholars. Basic research in this area has been conducted by I. Spasibo-Fatieieva, O. Lipetsker, Ye.Kazarenko, V. Steshenko, M. Pronina, S. Puhinsky, T. Potapenkova, Yu.Basin, D. levenson, N. Khashchivska, N. Milovska and other scientists. Target of research. The aim of the paper is a comprehensive study and analysis of the limits of exercising the rights by the public institutions of higher education to leasing out their own property. To achieve this goal the following tasks should be solved: 1) to define the limits of exercising the rights by the public institutions of higher education to leasing out their own property; 2) to determine the legal consequences of concluding lease agreements by the public higher educational institutions in violation of current legislation. Article’s main body. The article conducts a general study and analysis of the right of the public institutions of higher education to lease property. The author emphasizes that public higher educational institutions have the right to lease out only real estate and other individually identified property. The legal consequences of concluding lease agreements by public higher educational institutions in violation of the current legislation have been studied. Conclusions and prospects for the development. Summarizing the results of the study we can formulate the following conclusions. The public institutions of higher education have the right to lease out real estate and other individually determined property in the manner prescribed by law and subject to statutory restrictions (without the right of redemption and sublease, when it does not worsen the social and living conditions of persons studying or working in the educational institution). While leasing the property, the public higher educational institution realizes primarily their own property interests, at the same time, indirectly realizing the property interests of the state. If the lease agreement of real estate and other individually determined property of higher educational institutions is recognized as invalid, it may be recognized as invalid only for the future.

scholarly journals Business processes within enterprises providing public services: reference model development

2021 ◽  
Vol 284 ◽  
pp. 07027
Author(s):  
Olga Voronova ◽  
Viktoria Sadakova ◽  
Viktoria Sheleyko ◽  
Irina Ilyina
Keyword(s):  
Real Estate ◽  
Public Services ◽  
Business Processes ◽  
Reference Model ◽  
Model Development ◽  
Real Estate Market ◽  
State Regulation ◽  
Public Institutions ◽  
The Real Estate ◽  
The Real Estate Market

This study focuses on the development of a reference model of business processes within enterprises providing public services in the field of real estate. The study revealed key features of process approach in the system of state regulation of the real estate market, considered organizational foundations of activities and technological processes of public institutions, and modelled the main business processes of public regulation enterprise at the top detail level. Based on a detailed representation of the main, managing and supporting business processes, the reference model was developed.

scholarly journals Chosen statistical methods for the detection of outliers in real estate market analysis

2020 ◽  
Vol 19 (2) ◽  
Author(s):  
Beata Śpiewak ◽  
Anna Barańska
Keyword(s):  
Real Estate ◽  
Statistical Methods ◽  
Residue Analysis ◽  
Functional Model ◽  
Real Estate Market ◽  
Market Analysis ◽  
Parameters Estimation ◽  
Estimation Of Parameters ◽  
Before And After ◽  
Detection Of Outliers

The paper contains the comparison of mechanism of two separately constructed statistical methods for the detection of outliers in real estate market analysis. For this purpose, databases with various types of real estate from local markets were created. Then the estimation of parameters of functional models describing dependencies prevailing on the examined markets was carried out. Subsequently, statistical tools called Baarda method and model residue analysis were used to detect outliers in the collected datasets. The last stage was a comparison of the obtained results of the parameters' estimation of the analyzed models and the measures of their quality, before and after the removal of outliers. The obtained results indicate that algorithms of chosen statistical methods, detecting outliers, allow to eliminate a smaller number of them, at the same time obtaining an improvement of the parameters of the functional model and its adjustment to the analyzed dataset. This gives the premise for the development of criteria for the selection of statistical methods that look for gross errors in the analyzed databases, among others, depending on functional model used, type of property and number of properties.

Bait pricing: evaluating the success of regulatory reform in advertising

2014 ◽  
Vol 7 (3) ◽  
pp. 333-345
Author(s):  
Valerie Kupke ◽  
Peter Rossini ◽  
Paul Kershaw
Keyword(s):  
Real Estate ◽  
Home Ownership ◽  
Regulatory Reform ◽  
The State ◽  
Percentage Change ◽  
Price Difference ◽  
Content Type ◽  
Legislative Reform ◽  
Market Values ◽  
Before And After

Purpose – The purpose of this paper is to evaluate the effectiveness of this legislative reform in the state of South Australia (SA) through an examination of the relationship between listed or advertised price and transaction prices before and after the changes in regulation. Between 2000 and 2008, legislative changes took place throughout Australia to make real-estate transactions more transparent and to deal with misleading conduct by real-estate agents. The practice of “charm” or “bait” pricing was targeted. This denotes the under-quoting of estimated selling prices in real-estate sale advertisements which can be considered deceptive or even fraudulent. Design/methodology/approach – The study area is Adelaide, the state capital of SA and includes analysis of first and last advertised prices and eventual selling price for > 120,000 residential sales transactions over a nine-year period between 2003 and 2011. The analysis to test these hypotheses included, first, a descriptive evaluation of the percentage price difference over time and a spatial breakdown of mean percentage price difference before and after legislation. Second, for each hypothesis, the change was tested by measuring the variance of the percentage change, with significance established through the Levene and Brown–Forsythe tests, rather than by the mean percentage change. Findings – The results, both descriptive and statistical, support the effectiveness of the reform in legislation. Research limitations/implications – The study has application in terms of agents as social gatekeepers and confirms the role of regulation to ensure market values are achieved and consumers not disadvantaged. With friction in the market, imperfect information and the possible behavioural responses of land agents, there may be incomplete market correction of underpricing strategies. This paper confirms the effectiveness of one such market intervention. Social implications – Some half a million dwellings are purchased in Australia every year. Annually, in the state of SA, some 53,000 dwellings are financed to be purchased or built. These levels of purchase reflect national home ownership rates of about 69 per cent, with some 33 per cent of Australians owning their houses outright and a growing number, some 36 per cent, owners with a mortgage. Australian households also move house relatively frequently. In 2008, 43 per cent of Australians reported moving in the previous 5 years, 15 per cent had moved 3 or more times. The most common reasons for moving were twofold, either to buy a house or to buy a bigger house. These levels of purchase, home ownership and mobility underpin the importance and viability of some 10,000 real-estate services businesses in Australia; a sector which, up to 2,000, was largely self-regulated. Originality/value – This paper is one of the first in Australia to effectively quantify the success of legislative reform on residential agency behaviour.

scholarly journals Research of the problems of project financing of construction of residential real estate using the escrow account mechanism

2021 ◽  
pp. 176-182
Author(s):  
I. A. Pantyukov ◽  
V. A. Opekunov
Keyword(s):  
Real Estate ◽  
Construction Projects ◽  
Real Estate Market ◽  
Federal Law ◽  
Pricing Policy ◽  
The Real Estate ◽  
The Real Estate Market ◽  
Before And After ◽  
Shared Equity ◽  
Real Estate Prices

The article shows the current situation in the real estate market. The publication considers the main problems of financing investment and construction projects, as well as the use of the escrow account mechanism. The study also proposes the main ways to solve the existing issues. The main focus of the research paper is on the lack of explanations regarding the ability of banks to dispose of money in escrow accounts, credit conditions, as well as the growth in real estate prices when developers switch to a new mechanism of settlement with shareholders. In addition, the authors analysed the pricing policy of developers before and after amendments to Federal Law No. 214-FZ, dated on December 30, 2004 “On Participation in Shared-Equity Construction of Apartment Buildings and Other Real Estate Objects and on Amendments to Certain Legislative Acts of the Russian Federation”. The study presents the possible consequences of introducing amendments to the law, switching to escrow accounts.

scholarly journals Analysis of the possibilities for improvement of thermal comfort of living quarters located in multi-family large-panel prefabricated buildings

2018 ◽  
Vol 44 ◽  
pp. 00145
Author(s):  
Konrad Podawca ◽  
Agata Pawłat-Zawrzykraj ◽  
Marek Dohojda
Keyword(s):  
Twentieth Century ◽  
Real Estate ◽  
Thermal Comfort ◽  
Thermal Insulation ◽  
Air Temperature ◽  
Optimal Temperature ◽  
Large Panel ◽  
Before And After ◽  
Optimal Temperature Range ◽  
Family Building

The article discusses the issue of low thermal insulation of partitions in large-panel prefabricated buildings. They were constructed mainly in the 70's and the 80's of the twentieth century. Defects related to freezing as well as vertical and horizontal joints of prefabricated walls, began to appear as early as in the very first years of operation. It was very burdensome for flat users due to lack of thermal comfort, mycological problems and rising heating costs. The thermovision analysis covered sections of panel partitions in real estate at Lazurowa Street in Warsaw, which is a four-storey multi-family building, constructed in large-panel system. The measurements were carried out in the periods of January-February 2016 before the thermal modernization of the building, and in January 2018 after its modernization and renovation of the flat. Before-and-after comparison of thermal insulation state was made on the basis of surface temperatures of crucial spots. Furthermore, after changes in the structure of external walls were finished, thermal comfort or discomfort in the analysed room were visualised, using graphs of the optimal temperature range of walls, ceiling and floor, depending on the air temperature in the room.

How Did COVID-19 Affect the Chinese Real Estate Stock Market: An Empirical Research

2021 ◽  
Vol 9 (4) ◽  
pp. 244
Author(s):  
Lei Hsu
Keyword(s):  
Real Estate ◽  
Stock Returns ◽  
Abnormal Returns ◽  
Good News ◽  
Real Estate Industry ◽  
Total Risk ◽  
The Real Estate ◽  
Before And After ◽  
Daily Stock Returns ◽  
Real Estate Company

<p>COVID-19 has brought disruptions to various industries in China. The real estate industry can’t remain immune from the shock as well, which can be presented by the performance of real estate stocks. This study investigates the effects of COVID-19 on the Chinese real estate stocks. Statistical methods, such as OLS regression, are used to explore the effects of new cases, new deaths, new recoveries, bad and good news about COVID-19 of provinces where the headquarters of the sample companies lie on the daily stock returns as well as the changes of volatilities before and after COVID-19. Event study is employed to discover the effects of important events during COVID-19. Results suggest that positive information about COVID-19 significantly increased daily stock returns of the listed real estate company in that province. Total risk and idiosyncratic risk of real estate stocks have increased significantly since COVID-19, while systematic risk has decreased significantly. Among the crucial events during the pandemic, the lockdown of Wuhan significantly caused negative abnormal returns for real estate stocks.</p>

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