scholarly journals Compensation due to land use restrictions: the case of limited use area in the vicinity of Polish airports

2019 ◽  
Vol 10 (4) ◽  
pp. 649-667
Author(s):  
Iwona Foryś ◽  
Michał Głuszak ◽  
Jan Konowalczuk
Keyword(s):  
Land Use ◽  
Real Estate ◽  
Residential Buildings ◽  
Value Added ◽  
State Intervention ◽  
Economic Benefits ◽  
Real Estate Market ◽  
Long Distance ◽  
Market Prices ◽  
Property Owners

Research background: The economic benefits that arise with the development of airport infrastructure are accompanied by negative externalities. Legal, technical and institutional instruments are used to mitigate or limit these effects. It involves state intervention in the use of real estate located in the vicinity of the airport, and the cost of such an intervention. On the other hand, as a result of state interventions, real estate market mechanisms are distorted. The balance on the market, prices and as a result the number of transactions is changing. Purpose of the article: The study evaluates adaptive efficiency, which is known as the ability of the real estate market system to adapt to the purpose of public intervention. The effectiveness of state intervention is measured as the difference between market transaction costs and costs after intervention. The former means the full coverage of all individual claims of property owners at market prices. However, after the intervention, these are costs of compensation and litigation (judicial, expert opinions, provisions for payment of damages), as well as the risk of the airport's insolvency. The state intervention system is also assessed through the prism of the lack of a methodology for assessing damages and subjective claims of property owners. The article focuses on the effects of the negative impact of airport noise resulting in limitations to residential buildings’ usability and depreciation of their market value. The study is based on the example of one regional airport. Methods: The study evaluates the current compensation model related to the introduction of Limited Land Use Areas around airports in Poland, based on Poznan-Lawica airport case study. In the empirical part of the paper, we use regression analysis to examine the value of compensations for loss of property value ruled by courts, and duration analysis to explore court procedure duration time. Findings & Value added: This research is one of the important basic research on socio-spatial connection near an airport in Poland. We argue that the current prac-tice related to compensation ruled by courts has substantial flaws (including the methodical error regarding the valuation of claims, where acoustic damage and value loss claims are treated as unrelated, thus both compensations are independently assessed). With the help of the Cox model, we demonstrate that the long distance from the airport and the location within the LUA increase the likelihood of court proceedings ending. The results are important due to the pending disputes and the costs threatening the functioning of airports in Poland.

scholarly journals On the interrelations between migration and commuting

Stanovnistvo ◽  
2013 ◽  
Vol 51 (1) ◽  
pp. 69-90 ◽  
Author(s):  
Vesna Lukic
Keyword(s):  
Real Estate ◽  
Labour Market ◽  
Real Estate Market ◽  
Modern Trend ◽  
Population Mobility ◽  
Rural Settlements ◽  
Long Distance ◽  
And Migration ◽  
Vojvodina Province

In this paper, we emphasise the significance of studying the interrelations between commuting and migration. The aim of the paper is to point out the factors which affect these interrelations (demographic and socio-economic characteristics of migrants and commuters, labour market, real estate market, information, life style, etc.), with the special emphasis on the role of commuting distance onto the chosen mobility type. Besides theorethical frameworks and results of the selected foreign researches up to date, the overview of research of interrelations between migration and commuting in Serbia has also been presented. While earlier studies conducted by Gawryszenski (1978), Termote (1980) and Reitsma&Vergoossen (1987) pointed to the replacement of migration types between each other within country, in recent literature the interaction between migration and commuting has been studied in a trans-boundary context of the contemporary EU. Modern trend of long distance commuting instead of migration and the concept of substitution/replacement regarding migration and commuting have also been discussed. In Serbia, there is a positive correlation between commuting outflows and immigration in rural settlements of Vojvodina province. Namely, commuting and migration are complement, which is the characteristic of both processes sub-urbanisation and ex-urbanisation (Lukic, 2012). In addition to ownership of real estate and previous migration experience, marital status influenced the chosen mobility type in Serbia as well. Adjustment to changes of Serbian labour market is mostly conducted via migration (Miletic, Lukic, Miljanovic, 2011). Interrelations between migration and commuting are very significant due to the tendency of transformation of some commuters into migrants. This process has its consequences, both on demographic as well as the overall socio-economic development of the area of commuters? origin and destination. However, even though the surveys conducted in Serbia during the 1980s showed that around 30 per cent of commuters expressed desire to move to their place of work, the degree of realization of these intentions remained unknown. While in some countries traffic studies and data from the management of the enterprises are used as sources of data on commuting, the studies on the commuter population in Serbia are based solely onto two types of data sources. These are census and poll surveys. Although they have more potential than the official statistics for the analysis of the links between migration and commuting and other characteristics of commuters, poll surveys on this topic in Serbia are relatively rare due to financial and organizational obstacles. Indeed, the last major survey was conducted in the 1980s. Therefore, even though the interrelations between migration and commuting have been confirmed, there is still a lot of space for their research indicating the need for further methodology developments in researching these types of population mobility.

scholarly journals Assessment of the Property of a Territorial Community: Topical Problems and Ways to Solve them

2021 ◽  
Vol 25 (1) ◽  
pp. 148-152
Author(s):  
Liliia Tymoshchyk ◽  
Keyword(s):  
Real Estate ◽  
Effective Property ◽  
Economic Benefits ◽  
Real Estate Market ◽  
Property Management ◽  
The Real ◽  
The Real Estate ◽  
Property Valuation ◽  
Communal Property ◽  
Municipal Management

Annotation. Introduction. One of the trends in the development of the modern real estate market in Ukraine is the gradual growth of the real estate owners, and, accordingly, the change of the real estate management system, in particular, in the field of municipal management. Real estate, as a strategic asset, needs to be managed at a professional level. Therefore, the mechanism of property valuation of territorial communities is perceived as one of the tools of effective property management. Purpose. The purpose of this article is to find and scientifically substantiate the priority areas for improving the effectiveness of property valuation of territorial communities, and analysis related to the mechanism of evaluation of management aspects – goals, approaches, methods and characteristics. Results. The article analyzes the essence of effective management of municipal property – focuses on management goals, the priority of which is the creation of conditions for normal activities, both for each resident and all in general, analyzes the process of determining the effectiveness of municipal management in various fields and its characteristics, methods of evaluating the effectiveness of management. The main provision that guides real estate activities is that real estate development projects should meet the needs of consumers as much as possible. The views of domestic researcher N. Smentina on approaches to assessing the effectiveness of communal property – economic and social. The article provides a detailed substantive analysis of the concept of “real estate” within the complex development and its spatio-temporal characteristics that affect its value. The importance of the characteristic “optimal use of real estate” is determined. The “optimal use of real estate” reveals the conceptual content of the process of assessing the effectiveness of property use. Conclusions. Summing up, property valuation is especially important in the context of increasing the economic benefits from the sale of communal property, but the mechanism of property valuation of territorial communities in Ukrainian legislation still does not determine some specific aspects of municipal property valuation.. Keywords: property; property management; management efficiency; territorial community.

scholarly journals ‘Green’ obligations regarding new constructions and their impact on the real-estate market

2019 ◽  
Vol 13 (1) ◽  
pp. 560-566
Author(s):  
Simona Chirica
Keyword(s):  
Real Estate ◽  
Residential Buildings ◽  
Real Estate Market ◽  
Direct Impact ◽  
The Real ◽  
The Real Estate ◽  
Building Permits ◽  
Energy Dependency ◽  
The Real Estate Market ◽  
Electrical Vehicles

Abstract The fight for reducing green gas emissions and energy dependency requires the application of additional obligations for new constructions. From this perspective, starting from the 31st of December 2020 building permits for new constructions in the private sector shall be issued only if their energy consume is close to zero. Additionally, the recovery level of non-dangerous waste resulting from construction and demolition activities must reach until the 31st of December 2020 a percentage of minimum 70%. Also, with respect to residential and non-residential buildings, new and also buildings undergoing major renovation, the real-estate developers must take into consideration the obligations regarding the instalment of electrical recharging points for electrical vehicles. These additional obligations will have a direct impact upon the construction price and will certainly influence the real-estate market.

scholarly journals People and the City: Urban Fragility and the Real Estate-Scape in a Neighborhood of Catania, Italy

2020 ◽  
Vol 12 (13) ◽  
pp. 5409 ◽  
Author(s):  
Maria Rosa Trovato ◽  
Claudia Clienti ◽  
Salvatore Giuffrida
Keyword(s):  
Real Estate ◽  
Social Life ◽  
Life Quality ◽  
Real Estate Market ◽  
Market Prices ◽  
The Real ◽  
The Real Estate ◽  
The Social ◽  
The Real Estate Market ◽  
Civil Economy

Urban/social fragility is the main focus of most studies on civil economy involving the commitment of politics in the prospect of integrating and somehow guiding an ordered development of and ordered communities. The contemporary city is strongly influenced by the incommunicability between the social system and environment, the latter more and more, including urban and societal components. This study tries to outline a comparative social-urban profile of Picanello, a popular central neighborhood of Catania, in Sicily, Italy, characterized by the combination of different urban and social life-quality levels, thus expressing a heterogeneous vulnerability/resilience profile. The analysis is placed in the urban planning context and aims to: (1) Denotative a pattern that considers the different fragility/resilience descriptive indices; and (2) connotative a pattern of the human and urban dimensions of the social capital asset. This analysis was performed by implementing a multidimensional pattern allowing us to place the neighborhood in a ranking of the neighborhoods of Catania, thus highlighting strength and weakness under different respects. Furthermore, the monetary measurements of this vulnerability/resilience profile, was carried by means of the structured observation of the real estate market. Fuzzy k-medoids cluster analyses have been comparatively performed—showing and mapping the relationships between urban value density and real estate market prices tensions.

Land Use Efficiency on Example of the Transformation of Rural Properties

2017 ◽  
Author(s):  
Elžbieta Jasinska
Keyword(s):  
Land Use ◽  
Real Estate ◽  
Agricultural Land ◽  
Local Development ◽  
Real Estate Market ◽  
Local Planning ◽  
The Real Estate ◽  
Land Use Efficiency ◽  
Use Efficiency ◽  
The Individual

Appropriate use of the economic potential of the property is a challenge not only for planners and local authorities, it is also important for the individual owners. The biggest changes will result from changes in local planning, mainly from the conversion of agricultural land for residential purposes. However, legislative changes were created to protect this type of land against uncontrolled rotation. The changes made in recent years, complicated, or even impossible so far used the process of buying and subsequent conversion of the property, to the needs of the real estate market premises or services. The article presents the ideas of Land Use Efficiency on the example of transformation of agricultural real estate in the property held for development. Example simulations are an empirical transformation or division of property to sell them for housing purposes. These examples illustrated in the example of land developing, for whom the lack of local development plans or plans are developed recently. For this purpose, a qualitative and quantitative approaches, including decision trees to determine the criteria for the formation of real estate prices. The author draws attention to the possibility of the development of non-urbanized areas and the potential costs and financial returns resulting therefrom.

Power and Height: The Electric Skyscraper, 1920–1934

2017 ◽  
Author(s):  
Thomas Leslie
Keyword(s):  
World War I ◽  
Real Estate ◽  
Real Estate Market ◽  
World War ◽  
Property Owners ◽  
Sudden Appearance

This chapter describes major structures built from 1920 to 1934, which were dominated by towers that resulted from an explosive real estate market that challenged code restrictions on height and that took fuller advantage of powered construction and circulation. The height restrictions imposed by the 1893 Code foreclosed any serious attempt to build higher than 180 or, later, 260 feet. But after World War I, a loophole in Chicago's ordinance that permitted “Spires, Towers, and Domes” sparked a controversy and then a race for new heights. The sudden appearance of the 556-foot Chicago Temple in the center of the Loop agitated property owners, architects, and engineers into a new quest for height—at first within the limits of the spire and tower loophole and then to the relaxed requirements of a new zoning ordinance that was tailor-made for a new, powered skyscraper era.

Real Estate Risk in Russia and Financial Innovations

2016 ◽  
Vol 2016 (6) ◽  
pp. 57-70
Author(s):  
Andrey Matyukhin
Keyword(s):  
Real Estate ◽  
Real Estate Market ◽  
Market Prices ◽  
Economic Agents ◽  
Risk Hedging ◽  
Market Participants ◽  
Financial Innovations ◽  
Negative Effect ◽  
Real Estate Prices ◽  
Market Construction

The article underlines the latest trends in real estate prices in Russia, which helps to record the increasing negative effect of real estate risks on various groups of economic agents. The consequences of negative dynamics in mean real estate market prices could be relaxed by real estate derivatives market construction, which has been unclaimed yet by the market participants due to favorable economic conditions. The article provides the ground for the necessity of real estate risk hedging for various groups of economic agents, viability of real estate derivatives utilization for the purposes of hedging and their application to further financial innovations.

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