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 VALUATION SYSTEMS IN POLAND, SLOVAKIA AND THE UNITED KINGDOM – COMPARATIVE STUDY

2013 ◽  
Vol 21 (4) ◽  
pp. 75-86
Author(s):  
Marek Walacik ◽  
Richard Grover ◽  
Adamuscin Adamuscin
Keyword(s):  
Real Estate ◽  
Comparative Study ◽  
Real Estate Market ◽  
Market Models ◽  
The Real ◽  
The Real Estate ◽  
Market Values ◽  
Property Valuation ◽  
The United Kingdom ◽  
The Real Estate Market

Abstract The real estate market is a domain of multi-faceted contemplations - ranging from economical, societal and sociological, to juridical aspects. These domains are important because they create an area of real estate (internal and external) and have an impact on the real estate market. The multifariousness of properties has an influence on the creation of market values. Investors and people whose jobs are connected with the real estate market describe it using points, variables and characteristic attributes and on their basis, create algorithms or real estate market models. We need to draw attention to the fact that, in most cases, the terms “features “, “variables”, and “attributes” are treated as the same. The authors of the present article do not agree with that kind of approach and would like to systematize the knowledge in this area. The goal of the article is to explain problematic terms, and indicate their genesis and sense of using them. The paper compares the legal systems of property valuation in three different countries. It describes their different valuation procedures and provides commentary on them.

scholarly journals Calculation and Spatial Distribution of Capitalization Rates in the Selected Segment of Reality Properties

2016 ◽  
Vol 4 (2) ◽  
pp. 37-50
Author(s):  
Eva Ardielli ◽  
Jiří Ardielli ◽  
David Slavata
Keyword(s):  
Spatial Distribution ◽  
Real Estate ◽  
Real Estate Market ◽  
Real Property ◽  
The Real ◽  
The Real Estate ◽  
Property Valuation ◽  
The Real Estate Market ◽  
Capitalization Rate ◽  
Apartment Ownership

Abstract The process of real property valuation by usage of income approaches is significantly affected by capitalization rate. This article deals with problematic of the capitalization rate determination in the real estate segment of apartments in the Ostrava city. It primarily aims to calculate the level of gross capitalization rate according to different urban localities of Ostrava, for various sizes of apartments, as well depending on the type of apartment ownership. The analysis of the real estate market is an important part of the research. It is focused on the offer of apartments from the perspective of market apartments for sale and also of market apartments for rent. The analyzed and calculated spatial values distributions are consequently processed into cartographic outputs.

scholarly journals Calculation and spatial distribution of capitalization rates in the selected segment of reality properties

2016 ◽  
Vol 4 (2) ◽  
Author(s):  
Eva Ardielli ◽  
Jiří Ardielli ◽  
David Slavata
Keyword(s):  
Spatial Distribution ◽  
Real Estate ◽  
Real Estate Market ◽  
Real Property ◽  
The Real ◽  
The Real Estate ◽  
Property Valuation ◽  
The Real Estate Market ◽  
Capitalization Rate ◽  
Apartment Ownership

The process of real property valuation by usage of income approaches is significantly affected by capitalization rate. This article deals with problematic of the capitalization rate determination in the real estate segment of apartments in the Ostrava city. It primarily aims to calculate the level of gross capitalization rate according to different urban localities of Ostrava, for various sizes of apartments, as well depending on the type of apartment ownership. The analysis of the real estate market is an important part of the research. It is focused on the offer of apartments from the perspective of market apartments for sale and also of market apartments for rent. The analyzed and calculated spatial values distributions are consequently processed into cartographic outputs.

scholarly journals Reflecting Sustainability in Property Valuation - Defining the Problem

2018 ◽  
Vol 26 (2) ◽  
pp. 60-70 ◽  
Author(s):  
Ewa Kucharska-Stasiak ◽  
Katarzyna Olbińska
Keyword(s):  
Real Estate ◽  
Real Estate Market ◽  
Sustainable Buildings ◽  
Sustainable Building ◽  
New Approach ◽  
The Real ◽  
The Real Estate ◽  
Property Valuation ◽  
Short Period ◽  
The Real Estate Market

Abstract A major topic in discussions about environmental protection is the concept of sustainable development utilizing the economic criteria enhanced by environmental, social and ethical aspects. The concept inspired a new approach to construction and paved the way for the idea of sustainable buildings. Sustainable buildings are expected to offer economic benefits to their owners and tenants that should be reflected in property values. The authors test a hypothesis that the real estate market in Poland still fails to incorporate sustainability in property valuation. The article seeks evidence in support of this hypothesis, as well as attempting to find out why the market does not pay a premium for sustainability. To accomplish the purpose of the research, a systematic literature review, an analysis of the pilot studies available in Poland and a preliminary assessment of the ability of valuation methods to reflect sustainability in property valuations are performed. The focus of the research is on the office property market, one of the fastest growing and most modern segments of the real estate market. The conclusion drawn from the research is that, of all respondents surveyed by international studies, Polish developers, property owners, tenants and valuers know the least about sustainable building and that the evidence of the benefits of sustainable building is still unavailable in the Polish real estate market. Such benefits are rather hypothesized to exist and considered theoretically rather than empirically confirmed. It is possible that the reasons for these findings are the short period of research and problems with distinguishing sustainable buildings from conventional ones, which make it difficult for valuers to reflect the benefits of sustainability in valuations. Nevertheless, a new approach to property valuation encompassing environmental, ethical and moral aspects seems necessary. This would encourage sustainable building and green investment strategies. Sustainable valuation would also be an opportunity for the development of the valuation profession.

scholarly journals RESILIENCY OF PREFABRICATED DAYCARES AND SCHOOLS: FINNISH PERSPECTIVE TO RELOCATABLE EDUCATION FACILITIES

2016 ◽  
Vol 20 (3) ◽  
pp. 316-327 ◽  
Author(s):  
Harry EDELMAN ◽  
Jaakko VIHOLA ◽  
Mikko LAAK ◽  
Petri ANNILA
Keyword(s):  
Real Estate ◽  
School Facilities ◽  
Disaster Mitigation ◽  
Property Management ◽  
Existing Buildings ◽  
Short Term ◽  
The Real ◽  
The Real Estate ◽  
Communal Property ◽  
Core Issue

The industrialised production of prefabricated daycare and school properties offer flexible alternatives for communities for provision of communal services. The paper investigates architectural qualities and financial solutions for rentable and relocatable education facilities in finland. in particular, the focus is on the communal interests in solving the property management with a portfolio of rentable facilities for different time spans ranging from very short term to periods up to over twenty years. The short term rental terms offer solutions for disaster mitigation such as flooding but also spaces during refurbishment of existing buildings, e.g. due to moisture and mould damage. A core issue is a potential sustainable and flexible co-existence of both permanent and flexible modules that can adapt, for example to demographic changes, improving the efficiency of communal property manage­ment. Thus the prefabricated solutions have a potential, if the architectural quality is high enough, to provide alternatives for the real estate strategies of cities also in longer term provision of daycare and school facilities.

scholarly journals PROPERTY VALUATION UNDER UNCERTAINTY. SIMULATION VS STRATEGIC MODEL

2013 ◽  
Vol 17 (1) ◽  
pp. 79-92 ◽  
Author(s):  
Wiesław Meszek
Keyword(s):  
Real Estate ◽  
Pairwise Comparison ◽  
Market Value ◽  
Comparison Method ◽  
Real Estate Market ◽  
The Real ◽  
The Real Estate ◽  
Property Valuation ◽  
Transaction Prices ◽  
The Game Theory

Uncertainty is a real and universal phenomenon in property valuation. The sources of uncertainty premises originate in the market's specific character, particularly in its informative inefficiency. The degree of uncertainty will vary according to the level of market activity. The result of this uncertainty for the process of property valuation is the impossibility of the measurement of the market value weights and unknown reliability of the real estate transaction prices. In practice, the market value of each property is based on prices under the assumption that the market is efficient; however in reality, prices do not fully reflect the available information. The reasons are, among others, low transparency of the market and confidentiality of transactions let alone the market imperfections. In terms of information inefficiency of the real estate market, statistical methods are ineffective for property valuation, therefore there is a need to use methods and models taking uncertainty into consideration. This paper looks at the way in which uncertainty can be incorporated into the explicit model of sales comparison approach (pairwise comparison method). One model focuses on the application of the Monte-Carlo simulation and the other on the game theory.

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