scholarly journals The Impact of Airbnb Platforms on the Romanian Real Estate Market

2019 ◽  
Vol 76 (2) ◽  
pp. 245
Author(s):  
Daniela RĂBOJ
Keyword(s):  
Real Estate ◽  
Market Value ◽  
Real Estate Market ◽  
Online Research ◽  
Direct Impact ◽  
Real Estate Markets ◽  
State Institutions ◽  
Residential Properties ◽  
Empirical Perspective ◽  
The Impact

Airbnb or other similar platforms have evolved greatly in recent years and managed to change the perception of accommodation, in the same manner as Uber has changed the perception of public transport. Renting for tourism purposes, through Airbnb type platforms, has a direct impact on investors, state institutions, real estate markets and so on. The purpose of this paper is to analyze the effect of Airbnb type platforms on the Romanian real estate market and to describe the difficulties encountered in evaluating the properties that produce hotel rental income. These analyzes are intended in order to highlight an empirical perspective on this trend. The study consisted of a thorough online research, that took also into consideration legislation in force. In this paper I have presented a series of assessments of the impact on the market value of residential properties in Romania, which the properties listed for rent on Airbnb, seem to have.

Foreign investment in Australian residential properties

2019 ◽  
Vol 12 (2) ◽  
pp. 166-180 ◽  
Author(s):  
Hassan F. Gholipour ◽  
Hooi Hooi Lean ◽  
Reza Tajaddini ◽  
Anh Khoi Pham
Keyword(s):  
Real Estate ◽  
Foreign Investment ◽  
House Prices ◽  
Real Estate Market ◽  
Housing Development ◽  
Housing Construction ◽  
Annual Data ◽  
Content Type ◽  
Residential Properties ◽  
The Impact

Purpose The purpose of this study is to examine the impact that foreign investment in existing houses and new housing development has on residential house prices and the growth of the housing construction sector. Design/methodology/approach The analysis is based on a panel cointegration method, estimated using annual data for all Australian states and territories spanning the period of 1990-2013. Findings The results indicate that increases in foreign investment in existing houses do not significantly lead to increases in house prices. On the other hand, a 10 per cent increase in foreign investment for housing development decreases house prices by 1.95 per cent. We also find that foreign real estate investments have a positive impact on housing construction activities in the long run. Originality/value Existing studies used aggregate foreign real estate investment in their analyses. As foreign investment in existing houses and foreign investment for housing development have different impacts on the demand and supply sides of housing market, it is crucial that the analysis of the effects of foreign investment in residential properties on real estate market is conducted for each type differently.

scholarly journals The Role of Macroprudential Policy in Bank Housing Loans Portfolio Quality Assurance

2021 ◽  
Vol 59 (2) ◽  
pp. 281-296
Author(s):  
Mirela Mitrašević
Keyword(s):  
Real Estate ◽  
Real Estate Market ◽  
Residential Real Estate ◽  
Macroprudential Policy ◽  
Mortgage Loans ◽  
Real Estate Markets ◽  
The Real Estate ◽  
Business Conditions ◽  
Policy Measures ◽  
The Impact

Abstract The subject of this paper is the contemporary trend in residential real estate markets in European countries and their impact on the quality of banks’ housing loan portfolios. Due to the fact that these are the markets that still have not fully recovered from the previous financial crisis, and at the time of writing were exposed to significant uncertainty related to the effects of specific business conditions caused by COVID-19, the research on the risks related to these markets and tools which can mitigate their consequences are of paramount importance. Given the fact that the importance of monitoring the emergence of systemic risks in the financial system and the design of macroprudential tools for Bosnia and Herzegovina is yet to come, one of the aims of the paper is to present the results of the research on the effectiveness of certain macroprudential policy measures for mitigating the impact of price fluctuations in residential real estate markets. A special attention is paid to the challenges that the real estate market and mortgage loans have been facing during the crisis caused by the COVID-19 pandemic. The paper provides a basis for future researches examining to which extent the applied macroprudential policy measures in some countries have been effective in hitherto unprecedented business conditions

scholarly journals Resampling Techniques for Real Estate Appraisals: Testing the Bootstrap Approach

2018 ◽  
Vol 10 (9) ◽  
pp. 3085 ◽  
Author(s):  
Vincenzo Del Giudice ◽  
Francesca Salvo ◽  
Pierfrancesco De Paola
Keyword(s):  
Statistical Theory ◽  
Real Estate ◽  
Real Estate Market ◽  
Resampling Methods ◽  
Real Estate Markets ◽  
The Real Estate ◽  
Knowledge Growth ◽  
Bootstrap Approach ◽  
Marginal Prices ◽  
Residential Properties

Applied to real estate markets analysis, the resampling methods aim to contribute to the knowledge growth of real estate market dynamics, overcoming the issues related to the data scarcity and operational limits of traditional statistical theory. Among resampling methods, the Bootstrap technique appears to be the most suitable for the interpretation of real estate phenomena. In this study, for residential properties located in Cosenza (Calabria Region, Italy), a Bootstrap approach has been used in order to determine the marginal prices of the real estate characteristics detected, comparing the results with those obtainable with a traditional Multiple Regression Analysis.

scholarly journals Accessibility of Real Estate by Transportation as a Determinant of the Development of Suburban Real Estate Markets – Case Study

2016 ◽  
Vol 24 (1) ◽  
pp. 5-18 ◽  
Author(s):  
Ada Wolny
Keyword(s):  
Land Use ◽  
Real Estate ◽  
Transportation Network ◽  
Complex Structure ◽  
Real Estate Market ◽  
Real Estate Markets ◽  
Public Road ◽  
Transportation Accessibility ◽  
The Impact ◽  
The City

Abstract The aim of this article is to show the accessibility of real estate by transportation as a factor that significantly determines the decision to acquire it. Direct access to a public road, or access to an internal road that provides communication with the public road, are a factor affecting the value of real estate. In addition, this factor is taken into account in the process of changing the function of the area, especially in determining zoning and land use. The decision of purchasing real estate often depends on transportation accessibility, because it has an impact on developing the selected plot. Suburban real estate markets, as markets exposed to particularly strong investment pressure, develop depending on the influx of external investors and the local transportation network. Here, the smaller the distance from the city center, the greater the building concentration; nevertheless, it is still important to improve transportation links and create a well-developed local transportation network. The provision of access to main roads on the rapidly growing market is in the interest of local authorities implementing spatial policy. It is also a challenge for real estate investors taking on the initiative in the scope of transforming land use. The analysis of the impact that transportation accessibility has on the development of the real estate market was conducted on the example of two selected suburban communes bordering the city of Olsztyn - Dywity and Stawiguda. Transactions on the local real estate market entered into during a period of five years were subjected to analysis. The results of the research revealed concentrations of transactions of real estate located on the outskirts of the city or in areas well-communicated with Olsztyn. The conducted research also indicates that, due to the activity of investors, a network of internal roads creating a complex structure was formed.

scholarly journals Assessment of the Real Estate Market Value in the European Market by Artificial Neural Networks Application

Complexity ◽  
2018 ◽  
Vol 2018 ◽  
pp. 1-10 ◽  
Author(s):  
Jasmina Ćetković ◽  
Slobodan Lakić ◽  
Marijana Lazarevska ◽  
Miloš Žarković ◽  
Saša Vujošević ◽  
...  
Keyword(s):  
Real Estate ◽  
Input Data ◽  
Market Value ◽  
Real Estate Market ◽  
The Real ◽  
The Real Estate ◽  
Price Forecast ◽  
The Real Estate Market ◽  
Artificial Neural ◽  
The Impact

Using an artificial neural network, it is possible with the precision of the input data to show the dependence of the property price from variable inputs. It is meant to make a forecast that can be used for different purposes (accounting, sales, etc.), but also for the feasibility of building objects, as the sales price forecast is calculated. The aim of the research was to construct a prognostic model of the real estate market value in the EU countries depending on the impact of macroeconomic indicators. The available input data demonstrates that macroeconomic variables influence determination of real estate prices. The authors sought to obtain correct output data which show prices forecast in the real estate markets of the observed countries.

scholarly journals Trust in a viable real estate economy with disruption and blockchain

Facilities ◽  
2018 ◽  
Vol 36 (1/2) ◽  
pp. 103-120 ◽  
Author(s):  
Jan Veuger
Keyword(s):  
Real Estate ◽  
Value Chain ◽  
Social Impact ◽  
Real Estate Market ◽  
Content Type ◽  
Real Estate Markets ◽  
The Real ◽  
The Real Estate ◽  
The Real Estate Market ◽  
The Impact

Purpose The real estate world finds itself at a tipping point of a transition: a dramatic and irreversible shift in (real estate) systems in society. This paper is a State of the art of Disruption, Blockchain and Real Estate in the Netherlands and international. Design/methodology/approach The following questions were asked to all those involved: What do you think is the essence of Blockchain for real estate? What is the most current situation with respect to Blockchain and real estate from your perspective? Which publications are important from your perspective? What do you expect with respect to the impact of Blockchain on real estate for (social) real estate? What are questions for the future for real estate and Blockchain? In addition, interviews, exploratory conversations and correspondence took place, and the content was peer reviewed. Findings Changes in value concepts affect the valuation of real estate and the thinking about it. The orientation of changing users and owners of real estate affects innovativeness, values and flexibility in managing that property. Orientation on disruption must be seen as proof that the real estate world is able to actually innovate the accumulated assets and consolidate this. The financial and real estate markets are markets that exaggerate through irrational behaviour. Fear of “eat or be eaten” determines people’s behaviour. Financial and thus real estate markets are always unstable and must always be regulated by people and organizations. Research limitations/implications The question that remains is whether it is important to look at disruptive innovations in existing markets or newcomers in the real estate market and Blockchain. The question is whether Blockchain is only a technological disruption, or a real game changer, and whether the entire value chain of the real estate market will embrace it. No two disruptions are the same. Trust in Blockchain is a prerequisite for guiding the predictable form of that disruption where start-up companies use new technology to offer cheaper and inferior alternatives to real estate in the market. You could also talk about anti-fragile value: “Some things benefit from shocks; they thrive and grow when exposed to volatility, randomness, disorder, and stressors and love adventure, risk, and uncertainty. Yet, in spite of the ubiquity of the phenomenon, there is no word for the exact opposite of fragile. Let us call it antifragile” (Taleb, 2012), in other words: attention to disruption and Blockchain creates a viable real estate economy. Practical implications The true meaning of the Blockchain technology for real estate still needs to be investigated. The author is still curious to understand and clarify the value of Blockchain for real estate processes. Doubt continues to exist and is therefore a feeding ground for further research, because we do not know what we have not seen. Social implications Looking at the impact of Blockchain on real estate, a number of conclusions can be drawn. First of all, the relationship between Blockchain and real estate has not yet been proven in practice. It is expected to develop further in the form of registering transaction processes and the DNA passport of a real estate object. Secondly, completeness and transparency are the basic ingredients for trust in the system. Third, real estate wants to remain viable. For this reason, taking the offense is necessary for real estate and management to connect with social demand. Behaviour also leads to new earnings models of the social and economic spin-off of disruptive real estate. If the Dutch real estate sector embraces Blockchain and is able to realize innovations, there are opportunities for real estate entrepreneurs to exploit the disruptive character to provide those new services. Originality/value The way in which disruption, Blockchain and real estate will develop in the coming years are not the only obvious characteristics of a particular era but also its social impact and user behaviour. This also applies to how this real estate transition can best be tracked, guided and utilized in society at the international, national and regional level. Disruptive organizations clearly respond to the viability of the (built) environment and therefore determine competitive strength. This affects the current and future valuation of real estate.

scholarly journals An Attempt to Determine the Impact of Energy Intensity on the Market Value of Residential Units on the Example of Selected Buildings in Szczecin

2020 ◽  
Vol 28 (1) ◽  
pp. 64-79
Author(s):  
Iwona Foryś ◽  
Ewa Putek-Szeląg ◽  
Beata Ziembicka
Keyword(s):  
Real Estate ◽  
Energy Intensity ◽  
Residential Buildings ◽  
Market Value ◽  
Energy Performance ◽  
Real Estate Market ◽  
Average Error ◽  
Residential Units ◽  
The Impact ◽  
Transaction Price

AbstractEnvironmental requirements, constantly increasing energy prices as well as energy consumption by residential units and buildings have become an important factor in the decision-making processes in the real estate market. The preferences of residential unit buyers who recognize the problem of energy intensity and translate it into the transaction price have also been changing. However, amendments to the Act on real estate management and new European standards have imposed an obligation to include the certificates of energy performance of buildings and premises on real estate valuers in the valuation process. In this paper, energy intensity understood as the heating requirements of multi-family residential buildings is the basis for assessing the impact of the proposed variants on the market value of residential units. The paper analyzes the energy intensity of various types of buildings (e.g. in low and high buildings) and its impact on the market value of residential units in a selected housing estate in Szczecin, when the property valuer has access to energy performance certificates of neither the unit under valuation nor the units selected for comparison. The purpose of this study is to identify the relationship between the energy intensity and the market value of residential units. The proposed three models of real estate market value: non-classical, multiple regression and average price adjustment taking into account energy intensity, obtain results consistent with the actual transaction price at a satisfactory level. The assessment was made using standard deviation, a coefficient of variation and the average error of forecasts.

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