scholarly journals A Mean-Variance Optimization Approach for Residential Real Estate Valuation

2021 ◽  
Vol 29 (3) ◽  
pp. 13-28
Author(s):  
Francisco Guijarro
Keyword(s):  
Real Estate ◽  
Programming Model ◽  
Adjustment Process ◽  
Optimization Approach ◽  
Variance Model ◽  
Comparison Model ◽  
Real Estate Valuation ◽  
The City ◽  
Mean Variance

Abstract This paper introduces a new approach to the sales comparison model for the valuation of real estate that can objectively estimate the coefficients associated with the explanatory price variables. The coefficients of the price adjustment process are estimated from the formulation of a quadratic programming model similar to the mean-variance model in the portfolio selection problem and are shown to be independent of the property to be valued. It is also shown that the sales comparison model should minimize the variance of the adjusted prices, and not their coefficient of variation as indicated by some national and international valuation regulations. The paper concludes with a case study on the city of Medellín, Colombia.

scholarly journals After Planning, the Production of Radical Social Space in Barcelona: Real-Estate Financial Circuit and (De Facto) Right to the City

2018 ◽  
Vol 3 (3) ◽  
pp. 83-104
Author(s):  
Pedro Jiménez-Pacheco
Keyword(s):  
Real Estate ◽  
Social Space ◽  
Planning System ◽  
Right To The City ◽  
Previous Knowledge ◽  
The Real Estate ◽  
Starting Point ◽  
The City ◽  
Theoretical Apparatus

This article is based on the premise that it is possible to apply Henri Lefebvre’s critical-theoretical apparatus to complex urban processes as a pedagogical case study. From previous knowledge of Lefebvrian thought, the article provides an overview of what Lefebvre called “the science of the use of social space”, supported by a transdisciplinary methodological plurality. The starting point is that neoliberal social space is produced, prepared, and led to the imminent urban post-neoliberalism, in the midst of this movement, a sophisticated planning system appears, with the old promise of service tradition, egalitarian ethics and pragmatic orientation. But in practice, it only reproduces the impotence of being inside a wave of localized surplus-benefits that expels human residues, avoiding any reaction. The Lefebvrian apparatus and a part of its theoretical tradition guide the research on Barcelona as a paradigm of global real-estate violence. This urban phenomenon is examined in central Barcelona, in order to rescue it from the pessimism of its own inhabitants, from the harsh perception that urban centrality no longer reproduces life. In this way, the article puts into operation an analytical tool designed to sabotage the real-estate circuit through a renewed right to the production of radical social space.

scholarly journals Real Estate valuation and forecasting in non-homogeneous markets: A case study in Greece during the financial crisis

2018 ◽  
Vol 70 (10) ◽  
pp. 1769-1783 ◽  
Author(s):  
Antonios K. Alexandridis ◽  
Dimitrios Karlis ◽  
Dimitrios Papastamos ◽  
Dimitrios Andritsos
Keyword(s):  
Financial Crisis ◽  
Real Estate ◽  
Real Estate Valuation

scholarly journals A bi-objective integer programming model for locating garbage accumulation points: a case study

2019 ◽  
pp. 70-81
Author(s):  
Diego Gabriel Rossit ◽  
Sergio Nesmachnow ◽  
Jamal Toutouh
Keyword(s):  
Integer Programming ◽  
Local Governments ◽  
Programming Model ◽  
Mathematical Formulation ◽  
Msw Management ◽  
Accumulation Points ◽  
Starting Point ◽  
Support Tools ◽  
The City

Enhancing efficiency in Municipal Solid Waste (MSW) management is crucial for local governments, which are generally in charge of collection, since this activity explains a large proportion of their budgetary expenses. The incorporation of decision support tools can contribute to improve the MSW system, specially by reducing the required investment of funds. This article proposes a mathematical formulation, based on integer programming, to determine the location of garbage accumulation points while minimizing the expenses of the system, i.e., the installment cost of bins and the required number of visits the collection vehicle which is related with the routing cost of the collection. The model was tested in some scenarios of an important Argentinian city that stills has a door-to-door system, including instances with unsorted waste, which is the current situation of the city, and also instances with source classified waste. Although the scenarios with classified waste evidenced to be more challenging for the proposed resolution approach, a set of solutions was provided in all scenarios. These solutions can be used as a starting point for migrating from the current door-to-door system to a community bins system.

Mean-Variance Model for the Build-Operate-Transfer Scheme Under Demand Uncertainty

2003 ◽  
Vol 1857 (1) ◽  
pp. 93-101 ◽  
Author(s):  
Anthony Chen ◽  
Kitti Subprasom ◽  
Zhaowang Ji
Keyword(s):  
Demand Uncertainty ◽  
Network Design Problem ◽  
Transfer Scheme ◽  
Nondominated Solutions ◽  
Variance Model ◽  
Traffic Demand ◽  
Simulation Based ◽  
Capacity Selection ◽  
Mean Variance

A mean-variance model was developed for determining the optimal toll and capacity in a build-operate-transfer (BOT) roadway project subject to traffic demand uncertainty. This mean-variance model involves two objectives: maximizing mean profit and minimizing the variance (or standard deviation) of profit. The variance associated with profit is considered as a risk. Because maximizing expected profit and minimizing risk are often conflicting, there may not be a single best solution that can simultaneously optimize both objectives. Hence, it is necessary to explicitly consider this as a multiobjective problem so that a set of nondominated solutions can be generated. In this study, the optimal toll and capacity selection for the BOT problem under demand uncertainty is formulated as a special case of the stochastic network design problem. A simulation-based multiobjective genetic algorithm was developed to solve this stochastic bilevel mathematical programming formulation. Numerical results are also presented as a case study.

scholarly journals Applying a Model for Trip Assignment and Dynamic Routing of Automated Taxis with Congestion: System Performance in the City of Delft, The Netherlands

2018 ◽  
Vol 2672 (8) ◽  
pp. 588-598 ◽  
Author(s):  
Xiao Liang ◽  
Gonçalo Homem de Almeida Correia ◽  
Bart van Arem
Keyword(s):  
The Netherlands ◽  
Real Time ◽  
Traffic Congestion ◽  
Programming Model ◽  
Profit Maximization ◽  
The Real ◽  
Real Size ◽  
The Impact ◽  
The City

This paper proposes a method of assigning trips to automated taxis (ATs) and designing the routes of those vehicles in an urban road network, and also considering the traffic congestion caused by this dynamic responsive service. The system is envisioned to provide a seamless door-to-door service within a city area for all passenger origins and destinations. An integer programming model is proposed to define the routing of the vehicles according to a profit maximization function, depending on the dynamic travel times, which varies with the ATs’ flow. This will be especially important when the number of automated vehicles (AVs) circulating on the roads is high enough that their routing will cause delays. This system should be able to serve not only the reserved travel requests, but also some real-time requests. A rolling horizon scheme is used to divide one day into several periods in which both the real-time and the booked demand will be considered together. The model was applied to the real size case study city of Delft, the Netherlands. The results allow assessing of the impact of the ATs movements on traffic congestion and the profitability of the system. From this case-study, it is possible to conclude that taking into account the effect of the vehicle flows on travel time leads to changes in the system profit, the satisfied percentage and the driving distance of the vehicles, which highlights the importance of this type of model in the assessment of the operational effects of ATs in the future.

MULTI-CASE STUDY OF STRATEGIC MANAGEMENT OF REAL ESTATE AGENCIES IN THE CITY OF SANTA MARIA

2013 ◽  
Vol 3 (4) ◽  
pp. 142-154
Author(s):  
P. SCHRIPPE ◽  
F.S.B. MEDEIROS ◽  
C.D. SCHIMITH ◽  
A.D. WEISE
Keyword(s):  
Real Estate ◽  
Strategic Management ◽  
The City ◽  
Santa Maria

scholarly journals A Novel Application Based on a Heuristic Approach for Planning Itineraries of One-Day Tourist

2021 ◽  
Vol 11 (19) ◽  
pp. 8989
Author(s):  
Agostino Marcello Mangini ◽  
Michele Roccotelli ◽  
Alessandro Rinaldi
Keyword(s):  
User Interaction ◽  
Technological Innovations ◽  
Optimization Approach ◽  
Information And Communications Technologies ◽  
New Approach ◽  
Communications Technologies ◽  
Intelligent Cities ◽  
The City

Technological innovations have revolutionized the lifestyle of the society and led to the development of advanced and intelligent cities. Smart city has recently become synonymous of a city characterized by an intelligent and extensive use of Information and Communications Technologies (ICTs) in order to allow efficient use of information. In this context, this paper proposes a new approach to optimize the planning of itineraries for one-day tourist. More in detail, an optimization approach based on Graph theory and multi-algorithms is provided to determine the optimal tourist itinerary. The aim is to minimize the travel times taking into account the tourist preferences. An Integer Linear Programming (ILP) problem is introduced to find the optimal outward and return paths of the touristic itinerary and a multi-algorithms strategy is used to maximize the number of attractions (PoIs) to be visited in the paths. Finally, a case study focusing on cruise tourist in the city of Bari, demonstrates the efficiency of the approach and the user interaction in the determination of the itinerary.

scholarly journals Strip plazas in the suburbs: a redevelopment framework for convenience centres

2021 ◽  
Author(s):  
Natalie Elizabeth Hickey
Keyword(s):  
Real Estate ◽  
Key Words ◽  
Service Needs ◽  
Suburban Communities ◽  
The People ◽  
Post War ◽  
A Site ◽  
The City

Convenience centres are a prominent retail form in the suburban communities of Toronto. Built to satisfy the goods and service needs of the people who inhabit the suburbs, convenience centres were first built in the post-war era, and consist of one-story retail units connected by a shared canopy. They have one or more rows of parking adjacent to the street and are designed to create a convenient experience for drivers. Convenience centres in Toronto typically occupy real estate along the Avenues and major arterial roads: areas designated in the City of Toronto Official plan to support future intensification, density, and housing. Therefore, the research in this project describes a set of recommendations in the form of a framework for redevelopment of convenience centres. It also outlines a case study for a site in Scarborough, Ontario, in which this framework was applied. Key words: retail; strip plaza; convenience centre; suburbs; redevelopment; Toronto;

scholarly journals The role of real estate and gold as inflation hedges: the Islamic influence

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Osman Gulseven ◽  
Ozgun Ekici
Keyword(s):  
Real Estate ◽  
Minimum Variance ◽  
Variance Model ◽  
Content Type ◽  
The Past ◽  
Medium Risk ◽  
Investment Portfolios ◽  
Religious Reasons ◽  
Mean Variance

Purpose This paper aims to understand how aversion to interest income in Islam may influence the demand for real estate and gold when inflation is rampant. Design/methodology/approach According to Markowitz’s mean-variance model, an optimal portfolio is one that blends maximum return with minimum variance. In investment portfolios, real estate and gold serve as inflation hedges. For religious reasons, many Muslims exclude interest-earning assets from their portfolios, however. This paper explores how this attitude influences the hedging role of real estate and gold when inflation is rampant. This paper compares optimal portfolios that include and do not include interest-earning assets. In the calculations, this study uses monthly Turkish data from 1997 until 2018. Findings The analysis shows that the best hedging instrument against inflation is an interest-earning asset. In its absence, the role of real estate and gold as inflation hedges markedly increases: For a medium-return and medium-risk portfolio, for instance, the portfolio share of gold holdings increases from 3.16% to 58.43% and that for real estate increases from 14.97% to 24.06%. Originality/value This paper is a pioneering work on the influence of Islam on the roles of real estate and gold as inflation hedges when inflation is rampant. It provides an explanation from financial theory for the strong real estate and gold demand in Turkey in the past two decades.

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