scholarly journals Interrelation of Large-Scale Property Development Project and the Local Real Estate Market. Evidence from Hungary

2019 ◽  
Vol 13 (1-2) ◽  
pp. 37-46
Author(s):  
Csaba Tóth
Keyword(s):  
Real Estate ◽  
Large Scale ◽  
Significant Degree ◽  
Real Estate Market ◽  
Development Project ◽  
Jel Classification ◽  
Residential Property ◽  
Property Market ◽  
Property Development ◽  
Building Project

The Hungarian real estate market has gone through a widely fluctuating phase in the new millennium, which has not missed periods of surge, crisis-driven gloom and recovery. Amidst these conditions, an international developer engaged in a large-scale, long-timeframe residential property building project (Sasad Liget Residential Complex) in District XI of the Hungarian capital. The article examines the exposures and impacts of the development project to the external factors. The deployed quantitative statistical methods reveal that despite the considerable weight of the project, the in-market performance of SLRC has been the function of the general swings of the sector. Further, although the project generated higher demand than the bulk of other properties in the vicinity, its weight has not been enough to impact the property market of District XI at a statistically significant degree. JEL Classification: E31, R31

scholarly journals The Analysis of Differences in Residential Property Price Indices

2014 ◽  
Vol 22 (3) ◽  
pp. 14-27 ◽  
Author(s):  
Sebastian Kokot
Keyword(s):  
Real Estate ◽  
Real Estate Market ◽  
Residential Property ◽  
Price Indices ◽  
Property Market ◽  
Real Property ◽  
Major Purpose ◽  
The Real Estate ◽  
Floor Area ◽  
Property Price

Abstract Residential property price indices can serve as a useful tool in the practice of real property market analysts, investment advisers, property developers, certified property appraisers, estate agents and managers. They can also be applied in property price valorization in specific legal positions. The Polish Act on Real Estate Management puts an obligation on the President of the Central Statistical Office to announce real property price indices, but the CSO fails to fulfill this obligation. The author’s rationale for this article is to contribute to works on rules of how to build property price indices. Presented within are the results of research on determining the price indices of such types of residential property as: a part of a building constituting a separate property and strata titles in housing cooperatives. The flats were divided into categories by floor area and by their location in 16 voivodeship capitals. The major purpose of the study is to prove that the prices of flats of different floor area change at different rates. Consequently, it seems worth considering whether a more detailed segmentation of the real estate market would be worthwhile for the sake of more accurate real property price indicators.

The Impact of Residential Real Estate Market by Property Tax

2011 ◽  
Vol 374-377 ◽  
pp. 2452-2455
Author(s):  
Zhan She Yang ◽  
Jing Shan
Keyword(s):  
Real Estate ◽  
Property Tax ◽  
Real Estate Market ◽  
Vital Role ◽  
Residential Property ◽  
Property Market ◽  
The Real Estate ◽  
Long Run ◽  
Huge Impact ◽  
The Impact

Property tax levying will make a huge impact on residential demand, residential supply, even the whole residential property market. It plays a vital role to the healthy and stable development of the residential property market. Although levying the property tax is very difficulty, it is the inevitable trend of development. In the long run, levying the property tax not only conform to the national interest, but also conducive to development of the real estate and the interests of residence buyer.

scholarly journals On Selecting Approaches to Analysis of the Residential Property Market

2019 ◽  
Vol 10 (2) ◽  
Author(s):  
Natalya Kovalevskaya ◽  
Vladislav Tyunkov
Keyword(s):  
Real Estate ◽  
Residential Property ◽  
Property Market ◽  
Dual Nature ◽  
Factors Affecting ◽  
Market Participants ◽  
Consumer Interests ◽  
Private Investors ◽  
The Impact ◽  
Private Individual

The article examines the issues of developing the residential property market taking into account the specifics of real estate as an object of the economic analysis. It reveals the terms of implementing economic interest in investing in residential property, identifies the features inherent in the residential property market as investment and commodity markets. It analyses the dual nature of real estate which explains the development of investment and consumer interests of the residential property market participants. The article analyses the interrelation of «saving - investment - consumption» at the level of implementing private (individual) interests of economic subject. It makes a comparison of various investment assets in terms of their attractiveness for private investors, depending on various factors affecting the decision to invest. It analyses the terms that allow to fully disclose the investment or consumer aspects of the residential property market. It considers the impact of the governmental investment policy directed at supporting and promoting development aspects of the residential property market.

scholarly journals The Application of Spatial Analysis Methods in the Real Estate Market in South‑Eastern Poland

2018 ◽  
Vol 1 (333) ◽  
Author(s):  
Dorota Dejniak
Keyword(s):  
Spatial Analysis ◽  
Real Estate ◽  
Real Estate Market ◽  
Graphical Form ◽  
Property Market ◽  
Strategic Decisions ◽  
The Real ◽  
The Real Estate ◽  
South Eastern ◽  
Estate Property

The aim of the article is to apply the method of spatial analysis to research the real estate property market in south‑eastern Poland. The methods of spatial statistics will be used to model the space differences of prices per one square metre of dwelling surface located in districts of south‑eastern Poland and to investigate spatial autocorrelation. The databases will be presented in a graphical form. The results may be used to set the spatial regularities and relations. The methods presented may be applied while making strategic decisions.

scholarly journals An Assessment of the Functioning of Shopping Centres in Central‑Eastern Europe on the Example of “Posnania Mall” in Poznań (Poland) and “Grand Mall” in Varna

2021 ◽  
Vol 15 (3) ◽  
pp. 99-113
Author(s):  
Sławomir Palicki ◽  
Stoyan Stoyanov ◽  
Ivo Kostov ◽  
Tsvetelina Atanasova ◽  
Patrycjusz Ostrowski
Keyword(s):  
Real Estate ◽  
Large Scale ◽  
Local Development ◽  
Real Estate Market ◽  
The European Union ◽  
Market Reactions ◽  
Shopping Centre ◽  
Shopping Centres ◽  
Central Eastern ◽  
The Impact

The article explores the issue of the function of shopping centres, in particular the analysis of the impact of their presence on society and the local development of cities and regions. Regarding the empirical aspect, the examples of Poznań (Poland) and Varna (Bulgaria) will be presented. As a result of similar socio‑economic conditions and joining the European Union at almost the same moment, all comparative studies reflecting preferences and market reactions seem both viable and interesting. In addition, the two cities chosen for the studies occupy a similar place in the hierarchy of the settlement network in their countries. They are large, well‑developed centres that attract the attention of investors from various segments of the real estate market. The research is part of the modelling of preferences of shopping centre customers areas, which in particular supports the investment decisions of developers operating in the analysed real estate market, and at the same time permits a diagnosis of social satisfaction. A derivative of the research is also the reconstruction of the effects of the functioning of large‑scale shopping malls in two Central‑Eastern European countries.

scholarly journals Cap rates and risk: a spatial analysis of commercial real estate

2018 ◽  
Vol 35 (1) ◽  
pp. 25-43
Author(s):  
Florian Unbehaun ◽  
Franz Fuerst
Keyword(s):  
Real Estate ◽  
Risk Perceptions ◽  
Large Scale ◽  
Risk Premia ◽  
Real Estate Market ◽  
Commercial Real Estate ◽  
Data Series ◽  
Large Set ◽  
Content Type ◽  
The Impact

Purpose This study aims to assess the impact of location on capitalization rates and risk premia. Design/methodology/approach Using a transaction-based data series for the five largest office markets in Germany from 2005 to 2015, regression analysis is performed to account for a large set of asset-level drivers such as location, age and size and time-varying macro-level drivers. Findings Location is found to be a key determinant of cap rates and risk premia. CBD locations are found to attract lower cap rates and lower risk premia in three of the five largest markets in Germany. Interestingly, this effect is not found in the non-CBD locations of these markets, suggesting that the lower perceived risk associated with these large markets is restricted to a relatively small area within these markets that are reputed to be safe investments. Research limitations/implications The findings imply that investors view properties in peripheral urban locations as imperfect substitutes for CBD properties. Further analysis also shows that these risk premia are not uniformly applied across real estate asset types. The CBD risk effect is particularly pronounced for office and retail assets, apparently considered “prime” investments within the central locations. Originality/value This is one of the first empirical studies of the risk implications of peripheral commercial real estate locations. It is also one of the first large-scale cap rate analyses of the German commercial real estate market. The results demonstrate that risk perceptions of investors have a distinct spatial dimension.

scholarly journals The Effect of HOPSCA on Residential Property Values: Exploratory Findings from Wuhan, China

2019 ◽  
Vol 11 (2) ◽  
pp. 471 ◽  
Author(s):  
Zhijiao Qin ◽  
Yan Yu ◽  
Dianfeng Liu
Keyword(s):  
Real Estate ◽  
Property Values ◽  
Development Project ◽  
Urban Life ◽  
Residential Property ◽  
Mixed Use ◽  
Residential Properties ◽  
Quality Of Urban Life ◽  
Residential Property Values

Mixed-use development is theoretically considered to enhance the residential value of an area. However, limited empirical research has focused on European and North American cities. HOPSCA is a real estate project that integrates hotels, offices, parks, shopping malls, conference centers, and apartments. As an important mixed-use development project in Chinese cities, HOPSCA is designed to improve the quality of urban life and to enhance the residential value of an area. Few studies have explicitly examined the effect of HOPSCA on residential property values, let alone linked this question to particular types of HOPSCA. To bridge this research gap, we selected Wuhan City in China as a case study to explore the effects of HOPSCA on residential property values. Specifically, we used the potential model to quantify the effects of HOPSCA and used the geographically weighted regression (GWR) method to estimate the relationship between HOPSCA variables and residential property values. The results are as follows: (1) the effects of HOPSCA on residential property values are statistically significant with positive and negative effects. The balanced-development HOPSCA generated the greatest effects, with the highest premium of 10.76% placed on residential properties. Moderate price premiums of 3.57% and 1.83% were generated under the influence of the commerce-oriented HOPSCA and housing-oriented HOPSCA, respectively. By contrast, the business-oriented HOPSCA exerted a negative effect on residential property (−2.43%). (2) Significant spatial heterogeneity exists on the effect of HOPSCA on residential property values. The results showed that the influence of different types of HOPSCA, viz. the higher the compatibility between the HOPSCA type and the socioeconomic context of Wuhan, the higher the premium captured by residential properties within the city areas. HOPSCA benefits the improvement of the quality of urban life, which promotes urban development. For policy makers and real estate developers, our findings suggest that matching the development types and the spatial layouts of HOPSCA with the regional socioeconomic contexts is critical for enhancing the value performance of such projects.

scholarly journals Customer service in the residential property market of South Africa

2004 ◽  
Vol 7 (1) ◽  
pp. 58-74
Author(s):  
S Rudansky-KlopperS ◽  
J Strydom
Keyword(s):  
South Africa ◽  
Customer Service ◽  
Marketing Research ◽  
Real Estate Market ◽  
Residential Property ◽  
Property Market ◽  
Term Survival ◽  
The Real Estate ◽  
Good Customer Service ◽  
Estate Agency

An increasing number of estate agencies are entering the real estate market in South Africa and many are struggling to survive as competition grows stronger. Customer service has become of overriding importance to establish a differential advantage that will ensure long-term survival. This study investigates customer service by estate agencies in the residential property market of South Africa. The results indicate that estate agencies seem to be aware of the importance of providing good customer service and of being service-oriented, but they do not always seem to realise the need to conduct marketing research and test the actual satisfaction of customers with the services provided, leaving a potential gap between what the customer wants and what the estate agency provides.

Impacts of Indoor Environmental Quality (IEQ) Elements on Residential Property Market: A Review

2015 ◽  
Vol 73 (5) ◽  
Author(s):  
Asmma’ Che Kasim ◽  
Megat Mohd Ghazali Megat Abdul Rahman ◽  
Maryanti Mohd Raid
Keyword(s):  
Environmental Quality ◽  
Market Price ◽  
Residential Building ◽  
Green Building ◽  
Real Estate Market ◽  
Residential Property ◽  
Indoor Environmental Quality ◽  
Property Market ◽  
Property Price ◽  
The Impact

Indoor environmental quality (IEQ) is among six criteria of Green Building Index (GBI) that need to be achieved by building owner in order to recognize their building as ‘green’ in Malaysia. The benefit of IEQ is to create conducive environment for human health. Besides influenced their overall image, leasing and resale value of the buildings, does indoor environmental quality (IEQ) features will give impact on real estate market in terms of price and rental particularly for residential building property? Therefore, this paper will review the broad literature regarding the impacts of indoor environmental quality (IEQ) for residential building property and its implication to towards property price and rental. The early hypothesis of this paper anticipates that indoor environmental quality (IEQ) features will indirectly increase residential property market price and rental. From this paper, it is hope that the positive impacts of these features will encourage building owners, developers and other main development actors to put these criteria into the same consideration as other criteria in GBI as one of the way to compensate the impact of the building towards economic, environment and social.

scholarly journals SIGNIFICANCE AND PERFORMANCE OF PROPERTY MARKETS IN MALAYSIA

2021 ◽  
Vol 19 (17) ◽  
Author(s):  
Mohd Haris Yop
Keyword(s):  
Real Estate ◽  
Business Environment ◽  
Real Estate Market ◽  
Study Data ◽  
Asia Pacific ◽  
Property Market ◽  
Transparency International ◽  
And Performance ◽  
Environment Index ◽  
Property Markets

The importance of the global real estate market has been widely debated over the last decade. Prior discussion has focused on various aspects of analysis used to evaluate the performance of the property market, such as statistical analysis, surveys, academic or industrial literature. As a result, it is also necessary to examine the global and Asian property markets while also evaluating the significance and performance of the Malaysian property market in comparison to other Asian markets to determine Malaysia's international contribution to the global property market. The performance of Malaysia's property market from 2015 to 2018 was examined in this study. Data was gathered using Thomson Router Data Stream from Real Capital Analytic, Asia Pacific Real Estate Association (APREA), World Economic Forum, and Transparency International, among others. The study's findings will extend knowledge not only of the performance and significance of the Malaysian property market, but also of GDP growth, inflation rate, market ranking global, competitiveness business environment index, corruption perception, and risk and transparency index in Malaysia and across Asian countries. The overall results indicate that the performance and signs of the Malaysian real estate market were better compared to other Asian and developing markets.

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