scholarly journals Selected Aspects of the Residential Property Market in the Context of Creating a City Image (an Example from Rzeszów)

2020 ◽  
Vol 15 (1) ◽  
pp. 39-52
Author(s):  
Wiesława Kuźniar ◽  
Kazimierz Cyran
Keyword(s):  
Real Estate ◽  
Real Estate Market ◽  
City Image ◽  
Residential Real Estate ◽  
Property Market ◽  
Secondary Sources ◽  
Modern Development ◽  
High Dynamics ◽  
The Impact ◽  
The City

The main goal of the article is to evaluate the city’s real estate sub-product and identify the impact of perception of this urban sphere on the overall image of Rzeszów city among students. A thesis was accepted by the authors that the attractive image of Rzeszów determines the development of the residential real estate market, attracting especially young, educated people to the city. On the basis of a literature analysis of the subject, information obtained from secondary sources on the topic of Rzeszów, as well as surveys carried out in 2018 among students (n = 325), the thesis was confirmed. Thanks to the fast, modern development of the city and consistently implemented marketing activities, Rzeszów is perceived as an innovative city that is friendly to residents, investors and students. This contributes to the inflow of new, usually young, educated residents and investors, which in turn translates into high dynamics in the residential real estate market. Questionnaire surveys carried out among students have shown that they highly appreciate the current image of Rzeszów and, most after graduation, plan to stay in the city which in their opinion is an attractive place for everyday life.

scholarly journals International Real Estate Review

2017 ◽  
Vol 20 (1) ◽  
pp. 51-73
Author(s):  
Steven Stelk ◽  
◽  
Leonard V. Zumpano ◽  
Keyword(s):  
Real Estate ◽  
Selection Bias ◽  
Real Estate Market ◽  
Residential Real Estate ◽  
Market Conditions ◽  
Home Prices ◽  
Boom And Bust ◽  
The Impact

This study investigates the impact of the brokerage market on home prices in both a seller's market (2006) and a buyer's market (2009). In both years, homes sold with brokerage assistance realized higher prices when compared with homes sold without the aid of a broker, even after controlling for selection bias in the seller¡¦s choice to use a broker. This is the first study that uses a national dataset from extreme boom and bust markets that has documented evidence of price segmentation in the residential real estate market. The findings may be the result of the market conditions in 2006 and 2009.

scholarly journals Assessment of the Impact of Public Transport Accessibility on the Value of Urban Residential Real Estate

2021 ◽  
Vol 20 (1) ◽  
pp. 62-83
Author(s):  
E. V. Leontev ◽  
◽  
I. A. Mayburov ◽  
Keyword(s):  
Real Estate ◽  
Public Transport ◽  
Real Estate Market ◽  
Transport Infrastructure ◽  
Lower Sensitivity ◽  
Residential Real Estate ◽  
Metro Station ◽  
Average Value ◽  
The Cost ◽  
The Impact

Currently, analysis of the impact of public transport on real estate and its value is widely demanded in the world. The analysis is used to plan investments in public transport and the efficiency of public transport networks. In Russia, such studies have been carried out mainly in the framework of the evaluation of specific properties, which does not make it possible to macroanalyze the urban public transport environment and compare them with each other. The aim of the work is to study the influence of the proximity of public transport infrastructure on the cost of urban residential real estate, to determine the average value of such an impact for Yekaterinburg. In this study, we intend to confirm the hypothesis about different influence of the proximity of a public transport stop on the cost of housing, taking into account the different set of attributes that characterize it. The calculations were carried out using the analysis of the supply of the real estate market, carried out with the method of multiple regression, simultaneously with the geo-positioning of real estate units on the map to calculate the distance of each object to the nearest public transport stop of a certain type. Based on the results of the calculations, a global tendency towards a higher cost of the properties that are close to tram stops or metro stations in Yekaterinburg is confirmed, and the share of the value of a property generated by the proximity of a public transport stop was calculated. The authors confirmed the hypothesis about varying sensitivity of residential real estate to the proximity of public transport stops. Newer homes have lower sensitivity to proximity to public transport stops than older ones. The obtained empirical evidence of the influence of public transport infrastructure on the value of residential real estate demonstrates the most significant contribution to the value of a real estate object, the proximity to the metro station in Yekaterinburg (3.0 – 12.0%). The tram infrastructure showed a slightly lower impact on the total cost of the facility (3.2 – 8.8%). The revealed interdependencies make it possible to apply the obtained data to forecasting the growth of the taxable base for property tax during the construction of new transport lines.

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

The Impact of the Opportunity Zone Program on the Residential Real Estate Market

2021 ◽  
Author(s):  
Ron Bekkerman ◽  
Maxime C. Cohen ◽  
John Maiden ◽  
Dmitry Mitrofanov
Keyword(s):  
Real Estate ◽  
Real Estate Market ◽  
Residential Real Estate ◽  
The Impact

scholarly journals The Influence of Traffic Noise on Apartment Prices on the Example of a European Urban Agglomeration

2020 ◽  
Vol 12 (3) ◽  
pp. 801 ◽  
Author(s):  
Agnieszka Szczepańska ◽  
Adam Senetra ◽  
Monika Wasilewicz-Pszczółkowska
Keyword(s):  
Real Estate ◽  
Traffic Noise ◽  
Real Estate Market ◽  
Infrastructure Projects ◽  
The Real Estate ◽  
The Road ◽  
Key Factor ◽  
City Construction ◽  
The Impact ◽  
The City

Traffic noise is one of the key determinants of apartment prices. The real estate market is highly sensitive to adverse environmental factors, which explains significant variations in apartment prices. The aim of this study was to identify the correlations between traffic noise levels and the prices of apartments traded on a local real estate market. The study analyzed three residential districts in the city of Olsztyn in north-eastern Poland. The database covered 5259 transactions concluded in 2005–2018. The collected data were standardized in terms of technical and functional parameters, and noise was the key factor differentiating the evaluated property. The relationships between the explained variable (apartment price) and the explanatory variable (traffic noise) were determined by linear correlation analysis. A negative correlation was noted, which confirms that a building’s location relative to the road network and, consequently, the level of traffic noise, is one of the factors that play a role in the potential buyers’ choice of property. The results of the study also indicate that the impact of traffic noise on the decisions made by real estate buyers continued to decrease in the analyzed period. Infrastructure projects in the city (construction of tramway lines and a ring road) have visibly reversed the previously observed trends and have decreased the strength of the above correlations in the evaluated residential districts. The values of the correlation coefficient were stabilized below the level noted in earlier stages of the analysis after the completion of the major infrastructure projects.

Planting Houses in Shenzhen: A Real Estate Market without Legal Titles1

2014 ◽  
Vol 29 (02) ◽  
pp. 253-272 ◽  
Author(s):  
Shitong Qiao
Keyword(s):  
Real Estate ◽  
Property Rights ◽  
Market Economy ◽  
Real Estate Market ◽  
Property Market ◽  
Transitional Countries ◽  
One Year ◽  
The City

Abstract Can a real estate market operate without legal titles? The answer has conventionally been no. But in Shenzhen, the iconic city of China’s market economy, an opposite phenomenon exists: half of the buildings within the city, which has 1,993 square kilometers of land and over 10 million people, have no legal titles and have been rented or sold to millions of people illegally. These illegal buildings are called small properties, because their property rights are “smaller” (weaker) than legal properties. Based on my one-year fieldwork, this paper is a first step toward explaining the small-property market. It reveals that legitimate organizations and professionals have developed a network to facilitate impersonal transactions of illegal small properties. Set against the backdrop and context of China’s transition, this paper presents a feasible plan for building a market economy in transitional countries, where property laws are often less than ideal.

scholarly journals The Impact of the Real Estate Crisis on a South European Metropolis: From Urban Diffusion to Reurbanisation

2021 ◽  
Author(s):  
Massimiliano Crisci
Keyword(s):  
Real Estate ◽  
Urban Sprawl ◽  
Social Impact ◽  
Real Estate Market ◽  
The Real Estate ◽  
Urban Core ◽  
Original Dataset ◽  
Long Time ◽  
The Impact ◽  
The City

AbstractBeginning in the 1970s, the urban core of the Rome Metropolitan Area (RMA) experienced four decades of intense depopulation and urban diffusion, which caused a considerable social impact. On the basis of an original dataset on residential mobility within the city of Rome, this paper aims to show that the RMA is currently experiencing a new stage of reurbanisation resulting from the bursting of the housing bubble after the 2008 crisis. Unlike other European contexts, the RMA repopulation is lacking forms of “urban resurgence” and is taking place in one of the most difficult periods of the city’s recent history. Paradoxically, the trend of private real estate market succeeded to stop urban sprawl where for a long time public decision-maker had failed. This created an opportunity to finally govern the process and steadily halt the urban diffusion, implementing targeted residential densification measures aimed at stabilising the demographic recovery of the urban core and preventing a return to urban sprawl.

scholarly journals Assessment of changes in the market value of residential real estate in the area of the commissioned transport interchange of the urban toll road

2019 ◽  
Vol 16 (5) ◽  
pp. 57-69
Author(s):  
M. B. Laskin ◽  
A. U. Talavirya
Keyword(s):  
Real Estate ◽  
High Speed ◽  
Market Value ◽  
Residential Real Estate ◽  
Mass Market ◽  
The Real ◽  
The Real Estate ◽  
Toll Road ◽  
The Impact ◽  
The City

The purpose of this research is to assess the impact of the commissioned toll road running through the city’s residential areas on the market value of residential real estate. The article presents a review of non-traditional methods for assessing real estate value, mainly in foreign publications. The Western High-Speed Diameter (WHSD) is the most significant transport and infrastructure project of the current decade for St. Petersburg. The most inaccessible part of the city on Vasilievsky Island was analyzed, as the example of new and secondary real estate value changes, were examined from August 2015 to December 2017, by the time when the new transport interchange of WHSD in the western part of the island was constructed and put into commission.  For the study, the authors used the data of the Real Estate Bulletin of St. Petersburg at the end of 2015 and 2017, the data of the cadastral assessment of residential real estate of St. Petersburg of 01.01.2015 and 01.01.2018. Main research method is the study of two-dimensional and conditional distributions of random values of bid prices and cadastral values, which allows obtaining estimates of the market value of the real estate that has passed cadastral registration, and estimates of growth rates.  The comparison of prices of offers with cadastral values applied in the article, with a simple and natural speculation of logarithmically normal distribution, allows us to propose a method of assessing the market  value for any property, even if the information about it is not available in the market data. The obtained numerical results showed a rise in the cost of a significant part of the mass-market for the study period up to 18% without discount on the auction, and up to 9% taking into account the discount on the auction. It turned out to be slightly higher than the general change in the prices of proposals that can be found in advertising publications. A significant change (from 50% to 73%) was found in business-class properties, located in the area with significantly changed species characteristics and improved transport accessibility, in the immediate vicinity of the exit from WHSD.  The results, indicating the growth of market value, allowed us to make a general conclusion about the changes in the attractiveness of the area for different segments of the population of the city: both for the mobile middle class, focused on the mass-market, and for buyers of the premium segment, having increased requirements for the real estate. The authors believe that the growth of the market value of real estate in the area of transport interchanges of modern infrastructure projects could be higher in other macroeconomic conditions. At present, the effective demand of the population is obviously not sufficient.  

scholarly journals Management of Investment and Construction Projects in Terms of Project Financing

2021 ◽  
Vol 12 (2) ◽  
Author(s):  
Natalya Kovalevskaya
Keyword(s):  
Project Management ◽  
Real Estate ◽  
Construction Projects ◽  
Bank Lending ◽  
Real Estate Market ◽  
Project Finance ◽  
Project Financing ◽  
Residential Real Estate ◽  
Legislative Framework ◽  
The Impact

The possibilities of applying the project approach to the financing of investment and construction projects are considered. The article analyzes the implementation of the processes of housing construction project management in the context of changes in the legislative framework and the transition of the activities of real estate developers to project financing. The article considers the features of project finance that are significant for project management as a form of project resource management, which determine its advantages in comparison with traditional bank lending. The expediency of adjusting the project risk management processes in the context of a legally approved transition to project financing is justified. The article analyzes the impact of changes in the legislation regulating the conditions for financing investment and construction projects on the situation in the residential real estate market. The advantages and limitations of project financing for various participants of investment and construction projects in the field of residential real estate are identified.

Analyzing the Effects of Establishing Communication Towers on Real Estate Sale Prices in Residential Areas Case Study of Sulaimaniyah City Center

2021 ◽  
Author(s):  
Ayoub Smaqaey ◽  
◽  
Dara Ridha ◽  
Fatma Aydin ◽  
◽  
...  
Keyword(s):  
Real Estate ◽  
Government Regulation ◽  
Real Estate Market ◽  
Residential Real Estate ◽  
Residential Areas ◽  
City Center ◽  
The Government ◽  
Real Estate Prices ◽  
The Impact ◽  
Communication Towers

The research aims to analyze and the statement the impact of establishing communication towers on the sale of residential real estate prices in the Sulaimaniyah city center. The goal of government regulation should be including regulations and environmental safety laws to protect citizens from the harmful and adverse effects of secreted by a human through the additions and changes of the environment. One aspect of the protection of the citizen is to be protected from adverse health effects resulting from communication towers. People have the right to choose the nature of the physical environment, as others should not impose it. The problem of communication towers considered as one of the main problems that have imposed on the people in Sulaimaniyah city center, which began to take a severe economic, social and health dimensions, affects the decision-making process in the real estate market. Moreover, consequently, this research analyzes the impact of the establishment of communication towers on the sale prices of residential property in Sulaimaniyah city center, the results of the research have confirmed a clear and adverse effect the communication towers on residential real estate prices in Sulaimaniyah city center. Besides the proof of this an excess of supply of real estate close to communication towers areas and the lack of demand for real estate in areas close to communication towers. Finally, the research commanded a range of important recommendations, such as necessity control the communication towers at the level of governments and companies, either at the companies’ level by choosing towers with low environmental impacts. Moreover, either at the government level to determine the location and conditions of the establishment of the communication towers, through legislation and laws of environmental protection and impose fees and raise awareness.

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