scholarly journals Analysis of the Financial Situation of Medium-Sized and Large Enterprises of the Construction Sector in Selected Central European Coutries

2014 ◽  
Vol 22 (3) ◽  
pp. 73-84
Author(s):  
Rafał Wolski ◽  
Magdalena Załęczna
Keyword(s):  
Real Estate ◽  
Real Estate Market ◽  
Economic Downturn ◽  
Construction Sector ◽  
Financial Situation ◽  
Real Estate Markets ◽  
Central European ◽  
The Real Estate ◽  
Construction Companies ◽  
The Individual

Abstract The economy is subject to periodic changes in activity, which is apparent in the financial situation of households and enterprises. However, the recent economic crisis has been particularly severe. After the great increase in economic activity, which in many countries was connected with the boom in the real estate market, it experienced a sudden turn for the worse, including the broadly understood construction sector. This contributed to a slowdown of the growth rate, or even a permanent economic downturn. The authors have undertaken an analysis of the situation in the construction sector and the condition of residential real estate markets in selected Central European countries, and next, on the basis of a database on the financial situation of selected construction companies constructing buildings in those countries, searched for an answer to the question of how much the construction sector and the analyzed enterprises changed their activity in the recent years. For the purpose of the analysis, a database of over 340 entities from the Czech Republic, Poland, Slovakia and Hungary was created. The work is of a comparative nature, which allows the scale of the processes studied in the individual countries to be identified.

Assessing the Demand for Online Integration Platforms in the Real Estate Business

2020 ◽  
Vol 26 (1) ◽  
pp. 46-54
Author(s):  
N. S. Alekseeva ◽  
A. E. Druzhinin
Keyword(s):  
Real Estate ◽  
Real Estate Market ◽  
Passenger Transport ◽  
Integration Platform ◽  
Online Platform ◽  
The Real ◽  
The Real Estate ◽  
The Real Estate Market ◽  
Hospitality Sector ◽  
The Individual

Examination of the real estate market shows that implementing innovations in this field is a very difficult task. This prompts the question of the necessity of digitalizing the real estate business and of the demand for online integration platforms in this field.Aim. The presented study aims to assess the demand for online integration platforms in the real estate business.Tasks. The authors compare the online integration platforms in the real estate market with the online integration platforms in the hospitality sector and the individual passenger transport market in terms of the share of user profits that integrators receive for their services on the online platform; compare the share of user profits that integrators receive for their services on the online platform with the equivalent indicator in various other global economic activities; assess the value of the services provided by an online integration platform using the methodology proposed by G. G. Azgaldov and N. N. Karpova.Methods. The data were acquired from public Internet sources and personal interviews with the directors of companies that represent or employ the services of online integration platforms in St. Petersburg. The interviews and work with Internet sources were conducted in November 2019.Results. An integrator in the real estate market receives a share of profits of their service users that is comparable to that of the integrators in the hospitality sector and the individual passenger transport market. The share of profits of a Russian integrator in the real estate market is significantly higher than that in such industries as entertainment, fashion, or sports. The value of an online integration platform can be defined as highly valuable, since the expected value of this indicator is 1.5 times higher than the maximum table value.Conclusions. The performed analysis shows a high demand for online integration platforms in the real estate business. Market participants are willing to pay for the ability to use new digital technologies.

scholarly journals Predicting real estate market trends and value using pre-processing and sentiment text mining analysis

2021 ◽  
pp. 35-43
Author(s):  
Nikolay Sinyak ◽  
Singh Tajinder ◽  
Jaglan Madhu Kumari ◽  
Vitaliy Kozlovskiy
Keyword(s):  
Social Media ◽  
Text Mining ◽  
Real Estate ◽  
Real Estate Market ◽  
Media Analysis ◽  
Market Information ◽  
Real Estate Markets ◽  
The Real Estate ◽  
Crowd Wisdom ◽  
Market Trends

Ubiquitous growth in the text mining field is unprecedented, where social media mining is playing a significant role. Gigantic growth of text mining is becoming a potential source of crowd wisdom extraction and analysis especially in terms of text pre-processing and sentiment analysis. The analysis of a potential influence of sentiment on real estate markets controversially discussed by scholars of finance, valuation and market efficiency supporters. Therefore, it’s a significant task of current research purview which not only provide an appropriate platform for the contributors but also for active real estate market information seekers. Text mining has gained the widespread attention of real estate market information users which is almost on explosion level. Accessibility of data on such behemoth scale mandates regular and critical analysis of this information for various perspectives’ plausibility. Rich patterns of online social text can be exploited to extract the relevant real estate information effectively. As text mining plays a significant and crucial role in discovery of these insights therefore its challenges and contribution in social media analysis must be explored extensively. In this paper, we provide a brief about the current summary of the modern state of text mining in pre-processing and sentiment for the real estate market analysis. Empha-sis is placed on the resources and learning mechanism available to real estate researchers and practitioners, as well as the major text mining tasks of interest to the community. Thus, the main aim of this chapter is to expound and intellectualize the domains of social media which are accessible on an extraordinary range in the field of text mining real estate for predicting real estate market trends and value.

scholarly journals COVID-19 Infects Real Estate Markets: Short and Mid-Run Effects on Housing Prices in Campania Region (Italy)

2020 ◽  
Vol 9 (7) ◽  
pp. 114 ◽  
Author(s):  
Vincenzo Del Giudice ◽  
Pierfrancesco De Paola ◽  
Francesco Paolo Del Giudice
Keyword(s):  
Real Estate ◽  
Housing Prices ◽  
Real Estate Market ◽  
Campania Region ◽  
Real Estate Markets ◽  
The Real ◽  
The Real Estate ◽  
Short Run ◽  
Predator Model ◽  
Real Estate Prices

The COVID-19 (also called “SARS-CoV-2”) pandemic is causing a dramatic reduction in consumption, with a further drop in prices and a decrease in workers’ per capita income. To this will be added an increase in unemployment, which will further depress consumption. The real estate market, as for other productive and commercial sectors, in the short and mid-run, will not tend to move independently from the context of the aforementioned economic variables. The effect of pandemics or health emergencies on housing markets is an unexplored topic in international literature. For this reason, firstly, the few specific studies found are reported and, by analogy, studies on the effects of terrorism attacks and natural disasters on real estate prices are examined too. Subsequently, beginning from the real estate dynamics and economic indicators of the Campania region before the COVID-19 emergency, the current COVID-19 scenario is defined (focusing on unemployment, personal and household income, real estate judicial execution, real estate dynamics). Finally, a real estate pricing model is developed, evaluating the short and mid-run COVID-19 effects on housing prices. To predict possible changes in the mid-run of real estate judicial execution and real estate dynamics, the economic model of Lotka–Volterra (also known as the “prey–predator” model) was applied. Results of the model indicate a housing prices drop of 4.16% in the short-run and 6.49% in the mid-run (late 2020–early 2021).

scholarly journals Optimization of the variables selection in the process of real estate markets rating

2015 ◽  
Vol 6 (4) ◽  
pp. 139 ◽  
Author(s):  
Małgorzata Renigier-Biłozor ◽  
Andrzej Biłozor
Keyword(s):  
Decision Making ◽  
Real Estate ◽  
Real Estate Market ◽  
Market Potential ◽  
Coherent System ◽  
Essential Information ◽  
Real Estate Markets ◽  
The Real ◽  
The Real Estate ◽  
The Real Estate Market

The growing significance of the real estate market prompts investors to search for factors and variables which support cohesive analyses of real estate markets, market comparisons based on diverse criteria and determination of market potential. The specificity of the real estate market is determined by the unique attributes of property. The Authors assume that developing real estate market ratings identifies the types of information and factors which affect decision-making on real estate markets. The main objective of  real estate market ratings is to create a universal and standardized classification system for evaluating the real estate market. One of the most important problems in this area is collecting appropriate features of real estate market and development dataset. The main problem involves the selection and application of appropriate features, which would be relevant to the specificity of information related to the real estate market and create a kind of coherent system aiding the decision-making process. The main aim of this study is the optimization of  set of variables that were used to develop the real estate market ratings.  For this purpose, Hellwig’s method of integral capacity of information was applied. In this particular case, the method shows what set of variables provides information most sufficiently. The results lead to obtaining the necessary set of features that constitute essential information which describes the situation on the local real estate market.

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

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.

Analysis of Land Markets Intended for Single-Family Housing for Different Suburban Areas

2017 ◽  
Author(s):  
Anna Przewiezlikowska
Keyword(s):  
Real Estate ◽  
Real Estate Market ◽  
Single Family ◽  
Real Property ◽  
Real Estate Markets ◽  
The Real ◽  
The Real Estate ◽  
Suburban Areas ◽  
Family Housing ◽  
Comparative Description

The aim of this article is the comparative description of two real estate markets based on the procedures for real property valuation. The study concerned only the land, which was undeveloped, intended for single-family housing in two communes located in the district of Krakow and three communes from the district of Kielce. The analyses were performed at four-year intervals and the comparison of the real estate markets was conducted. The first part contains the description of the areas covered by the research studies and the analyses of the real estate market and market trends. The next stage includes the descriptions of the two test real properties which are the subject of valuation and the fundamental comparative criterion. Then, the algorithms and methods of the calculations are presented. The practical part contains the description of individual markets, the implementation of the analyses and calculations, the comparison of the study areas and conclusions. The comparative analysis of the performed simulations of valuations was carried out first and then followed by a collective summary of descriptive statistics of all the real estate bases and the comparative description of the structures of the databases showing meaningful differences between Krakow and Kielce region.

scholarly journals RATING METHODOLOGY FOR REAL ESTATE MARKETS – POLAND CASE STUDY

2014 ◽  
Vol 18 (2) ◽  
pp. 198-212 ◽  
Author(s):  
Malgorzata Renigier-Biłozor ◽  
Radoslaw Wisniewski ◽  
Arturas Kaklauskas ◽  
Andrzej Biłozor
Keyword(s):  
Decision Making ◽  
Real Estate ◽  
National Economy ◽  
Real Estate Market ◽  
Market Potential ◽  
Real Estate Markets ◽  
The Real ◽  
The Real Estate ◽  
Local Character ◽  
The Real Estate Market

The development of the real estate market is conditioned by a variety of endogenous and exogenous factors. Selected factors determine the local character of the real estate market, whereas others contribute to its classification as one of the main branches of the national economy. Rapid economic growth and the search for new investment opportunities have turned the real estate market into a highly competitive arena where various players carry out diverse investment strategies. Investors search for similarities that would enable them to develop risk minimizing strategies. Ratings are a modern tool that can be deployed in analyses and predictions of real estate market potential. This paper proposes a methodology for developing real estate market ratings, and it identifies the types of information and factors which affect decision-making on real estate markets. The following research hypotheses are formulated and tested in the article: 1) a real estate market can be rated in view of its significance for the local and national economy, 2) real estate market ratings support market participants in the decision-making process.

Formation of a Science-Based Real Estate Services Market Management Mechanism

2018 ◽  
Vol 931 ◽  
pp. 1172-1177
Author(s):  
Ekaterina V. Voronina ◽  
Viktor E. Reutov ◽  
Olga B. Yarosh ◽  
Sergei V. Khalezin
Keyword(s):  
Real Estate ◽  
Fuzzy Inference ◽  
Real Estate Market ◽  
Membership Functions ◽  
The Real ◽  
The Real Estate ◽  
Object State ◽  
Market Management ◽  
The Individual ◽  
Inference Systems

The authors approve a mathematical model for estimating the value of an object taking into account trends in the residential real estate market in the MATLAB software package with the assignment and correction of the fuzzy set membership functions. Fuzzy computations are performed using the Mamdani method, which requires defining the membership functions for the output variables. We consider schemes for constructing systems of fuzzy inference for variables (the real estate object state) and (the real estate market state). The results of calculations using the Fuzzy Logic Toolbox are given on the surfaces of fuzzy inference systems that show the dependence of the output variables on the individual input variables.

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