scholarly journals ANALYSIS OF INSTALLATION OF MARKET VALUE OF LAND INDUSTRY OF INDUSTRIAL PRODUCTION

2018 ◽  
pp. 88-93
Author(s):  
A.Yu. Palamar ◽  
Ya.V. Osipenko
Keyword(s):  
Real Estate ◽  
Social Life ◽  
Residential Buildings ◽  
Technical Condition ◽  
Commercial Real Estate ◽  
Theory And Practice ◽  
Practical Application ◽  
Distribution Method ◽  
The Real Estate ◽  
Real Estate Valuation

Purpose: 1) to study the concept of wear in the theory of valuation of real estate; 2) analyze the main types of wear and methods of their assessment; 3) to analyze the requirements for the procedure for determining the technical condition of residential buildings when planning and designing repairs; 4) analysis of the reconstruction and technical inventory of the commercial real estate object; 5) in the given example, determine the accumulated depreciation of the real estate by the method of partitioning. Methodology. Many different methods of estimating the value of real estate have been developed, which shows the importance of this task. However, the practical application of existing techniques is problematic. Most of them follow the international practice of evaluation without taking into account the specifics of legislation and the existing conditions of the economic, urban, political and social life of Ukraine. Findings. Thus, the development of the theoretical foundations of real estate valuation, the improvement of its methods, and the implementation of applied research seem rather relevant and practically significant for land management of settlements. Originality consists in the following: the analysis of the best and most efficient use of the land plot; the calculation of the value of the object of valuation by three independent methods of valuation has been made, namely: the method of taking losses into land improvements; income distribution method; the method of comparing the prices of sales of real estate. Practical value. To date, the situation of the domestic assessment school should be considered as being in the period of formation. A large number of modern methodological developments are based on the theory and practice of assessing foreign developments. Many different methods of estimating the value of real estate have been developed, which shows the importance of this task. However, the practical application of existing techniques is problematic. Most of them follow the international practice of evaluation without taking into account the specifics of legislation and the existing conditions of the economic, urban, political and social life of Ukraine. Keywords: estimation, real estate, tax, rent, foreign experience, land market, land payments

scholarly journals Added value of sites suitable for sustainable office development

2021 ◽  
Vol 13 (2) ◽  
pp. 2465-2471
Author(s):  
Josef Kupec
Keyword(s):  
Real Estate ◽  
Free Market ◽  
Market Value ◽  
Commercial Real Estate ◽  
Added Value ◽  
The Real Estate ◽  
Real Estate Valuation ◽  
Valuation Methodology ◽  
The Impact ◽  
Office Development

Abstract Valuations of real estate are widely used for various purposes and it relied always upon the financial and other markets. Valuation methodology is based on the operation of the free market economy and the real estate properties. The issue of certified properties is relatively new in the field of real estate valuation and is not sufficiently explored. Certified buildings are preferred by major corporate tenants with international field of activity who often have ethical rules for sustainable development. Therefore, certified properties are attractive to international commercial real estate investors who have higher purchasing power and are willing to pay a higher purchase price. Sustainable property certification is an element affecting the market value of the property. The purpose of this presented research is to quantify the impact of property certification on the value of office properties in Prague and subsequently to determine the impact of sustainability certificates on the market value of the land by using basic valuation techniques. The outcome of the project could be used by real estate valuation experts as a guideline to consider the future project certification and its impact on the land market value.

Comparative analysis of the real estate taxation basics in the Russian Federation and foreign countries

2018 ◽  
Vol 941 (11) ◽  
pp. 61-64
Author(s):  
A.M. Lelyuhina ◽  
М.V. Litvinenko ◽  
O.V. Miklashevskaya
Keyword(s):  
Real Estate ◽  
Russian Federation ◽  
Tax System ◽  
The Real Estate ◽  
Foreign Countries ◽  
Real Estate Valuation ◽  
Real Estate Tax ◽  
The Russian Federation ◽  
Rational Construction ◽  
The Uk

The current issues of reforming the current tax system in the Russian Federation in the context of the transition to determining the amount of real estate taxes based on the cadastral value of real estate objects are discussed. The decision on adopting elements of a tax system in practice should be scientifically and methodologically based. The rational construction of the tax system of Russia contributes to the study of foreign tax systems’ models. In the article, the systems for calculating real estate tax established in the foreign countries under consideration are highlighted. Everything is based on analyzing the practice of real estate valuation in the UK, France, Belgium, Latvia, Finland, USA and Chile. A comparison is made of the grounds for calculating the property tax, their distinctive features. The main approaches to determining the cadastral value taking place in the cadastral systems of foreign countries are summarized. The conducted studies provide grounds for identifying trends in real estate valuation, which are being introduced into modern Russian cadastral valuation practice.

scholarly journals General principles of ground of efficiency of informatively-measuring technologies in the process of exploitation of objects of the real estate

2021 ◽  
Vol 41 (I) ◽  
pp. 74-85
Author(s):  
P. HRYHOROVSKYI ◽  
◽  
N. CHUKANOVA ◽  
YU. KROSHKA ◽  
I. OSADCHA ◽  
...  
Keyword(s):  
Life Cycle ◽  
Real Estate ◽  
Technical Condition ◽  
Comparative Assessment ◽  
Practical Significance ◽  
Labor Costs ◽  
Repair Work ◽  
The Real ◽  
The Real Estate ◽  
Instrumental Measurement

Aim of this work – to set forth general principles of ground of efficiency of informatively-measuring technologies in the process of exploitation of objects of the real estate. Methodology. The method of substantiating the effectiveness of the restoration of the technical condition of real estate in the process of their operation is based on the use of information and measurement technologies to establish the technical condition of the object, which is a combination of information retrieval methods, instrumental measurement, analysis and processing of such information, technological and technical solutions to ensure the operational suitability of the facility in conditions of uncertainty. The method involves the formation of a repair strategy using information and measurement technologies based on the development of the life cycle of repairs and algorithms for selecting options for instrumental monitoring systems, choosing the procedure for studying the duration of measurement work, justification of labor and information technology costs and comparative assessment of total costs of real estate object. Results. It is established that measuring works are an integral part of the process of operation and repair work in its composition, which are carried out according to a single schedule of operation of the building and are part of repair work, and the frequency and volume of measuring, including geodetic work correlate with. To plan the volume of measuring work, their duration and labor costs are determined on the basis of existing time norms, and in their absence – by methods of technical rationing. Substantiation of the effectiveness of information and measurement technologies in the operation of real estate is performed by comparative assessment of total costs during the operational stage of its life cycle, taking into account the costs of implementing information and measurement technologies, that is the set of processes for obtaining information by instrumental measurement and processing ‘effective conclusion on the technical condition of the property. The scientific novelty of the obtained results is in the development of general principles for substantiating the effectiveness of information and measurement technologies in the operation of real estate. The practical significance lies in the improvement of standard solutions for the choice of composition and content of information and measurement technologies, taking into account their impact on the duration and labor costs of all types of repairs and reconstruction.

scholarly journals A Multi-Attribute Sales Comparison Method for Real Estate Valuation

2019 ◽  
Vol 28 (1) ◽  
pp. 1-11
Author(s):  
András Farkas ◽  
Bogdan Porumb
Keyword(s):  
Real Estate ◽  
Comparison Method ◽  
Theory And Practice ◽  
Distance Functions ◽  
Hedonic Price ◽  
Property A ◽  
Index Method ◽  
Valuation Method ◽  
Real Estate Valuation ◽  
Metric Distance

The theory and practice of real-estate valuation has attracted immense interest over the past decades. This paper is concerned with the sales comparison approach. First, a brief survey of some procedures used worldwide, the sales comparison by adjustments, the hedonic regression and the hedonic price index method, is presented. To improve the versatility of property appraisals a new valuation method, as a combination of multi-objective optimization (MOO) and multi-criteria decision analysis (MCDA) is developed. A unique feature of this model is that it enables the appraiser to evaluate the characteristics of a property on those scales of measurement to which they belong de facto. To comply with this objective, distinct metric distance functions on each scale of measurement, including the two qualitative scales (nominal and ordinal), are employed. After that, the physical worth of a property is derived as a weighted sum of the composite scores. This can be measured on an interval scale. To predict the monetary worth of a property, a simple linear regression model is developed. The benefits of the use of this multi-attribute valuation method is also discussed. A comprehensive real-world study showing the application of the procedure is included.

scholarly journals Research on Factors Affecting Real Estate Values by Data Mining

2018 ◽  
Vol 6 (1) ◽  
pp. 220-239 ◽  
Author(s):  
Filiz Ersoz ◽  
Taner Ersoz ◽  
Muhammet Soydan
Keyword(s):  
Data Mining ◽  
Real Estate ◽  
Statistical Modelling ◽  
Unit Price ◽  
City Centre ◽  
Important Place ◽  
Factors Affecting ◽  
The Real ◽  
The Real Estate ◽  
Real Estate Valuation

Abstract Construction sector has an important place in Turkey’s economy. Real estate sales for the sector are increasing in parallel. However, the purchase cost is also important for those who are willing to buy a real estate. In the acquisition of real estate, factors such as size, location and age of the house are taken into consideration. The aim of the article is to conduct research on factors affecting real estate values by data mining. In this study, the most important variables that determine the value of the real estate have been investigated by data mining methods. The research has been carried out in Karabük and the variables determined according to the opinions of real estate experts. As classification methods, CHAID and C&RT algorithms have been used. It has been evaluated that both algorithm estimation results can be used. Within the framework of the study, the variables that have the most impact on the unit price have been determined, such as the size of the real estate, the distance to the city centre, the popularity, and the age of the building. The use of advanced technologies, such as statistical modelling and machine learning in real estate valuation and automatic value estimation, is of importance in determining the real value of the real estate.

Capitalisation rates for commercial real estate investment decisions

2015 ◽  
Vol 33 (3) ◽  
pp. 242-255 ◽  
Author(s):  
John McDonald
Keyword(s):  
Real Estate ◽  
Commercial Real Estate ◽  
Office Buildings ◽  
Office Building ◽  
Vacancy Rate ◽  
Recent Past ◽  
Content Type ◽  
Empirical Results ◽  
Real Estate Valuation ◽  
Capitalization Rate

Purpose – The purpose of this paper is to present a basic model of commercial real estate valuation in which the capitalization rate is the critical variable, and to present empirical results for a study of office building capitalization rates. Design/methodology/approach – The model is derived from standard economic and financial theories. The empirical study uses data from the sale of office buildings in 37 downtown markets for 2012. The empirical results are related to concepts of asset market efficiency. Findings – The empirical results show that capitalization rates depend on features of the office buildings, vacancy rate, and recent change in the office building market as captured by the vacancy rate. In other words, investors are using variables implied by standard economic and financial theory and basic economic data from the recent past to determine the capitalization rate. Practical implications – The empirical results show how investors determine capitalization rates for office buildings, so potential investors can gauge the state of a property market. Originality/value – The paper shows that changes in capitalization rates are predictable; investors use past data to adjust their capitalization rates. Furthermore, if an investor does not agree that current trends will continue, then the investment decision should be determined accordingly. For example, if an investor thinks that the future will not be as robust as the recent past, then other investors will bid more than the investor thinks is reasonable. However, if the investor sees a future that is brighter than the recent past, it is time to buy.

scholarly journals Information for decision-making in in-house and outsourced real estate management organisations

Facilities ◽  
2016 ◽  
Vol 34 (13/14) ◽  
pp. 891-905 ◽  
Author(s):  
Peter Palm
Keyword(s):  
Real Estate ◽  
Decision Maker ◽  
Commercial Real Estate ◽  
Decision Makers ◽  
Content Type ◽  
The Real ◽  
The Real Estate ◽  
Real Estate Sector ◽  
Estate Management ◽  
Real Estate Management

Purpose The purpose of this paper is to examine how the real estate owner (decision maker) insures being able to make informed decisions and how they differ according to organisational form. Design/methodology/approach This research is based on an interview study of nineteen firm representatives, six decision makers and thirteen management representatives, all from Swedish commercial real estate sector. Findings The study concludes that, regardless of organisational setting, the industry has a plan regarding handling information. The decision makers have all secured themselves access to the required/desired information. How this is done and what kind of information it is however differ, if the real estate management is in-house or outsourced. Furthermore, a clear focus on financial and contractual information is evident in both organisational settings. Research limitations/implications The research in this paper is limited to Swedish commercial real estate sector. Practical implications The insight the paper provides regarding required information can shed light on how information systems are built and how to improve your information sharing. Originality/value It provides an insight regarding how the industry, depending on organisation setting, prioritises different information and how the decision maker secures access to it.

scholarly journals Enforcing the ADA and Stopping Serial Litigants

2020 ◽  
Vol 6 (4) ◽  
Author(s):  
R. Cameron Saenz
Keyword(s):  
Real Estate ◽  
Commercial Real Estate ◽  
Real Estate Industry ◽  
Commercial Property ◽  
The Real ◽  
The Real Estate ◽  
Effective Implementation ◽  
Property Owners ◽  
Legal Challenges ◽  
Title Iii

This comment explores the evolution of Title III of the Americans with Disabilities Act (“ADA”) and argues for a new and more effective implementation of this important anti-discrimination law through the real estate industry. First, this comment discusses the intricacies of the ADA, including its revisions over time and impactful legislation it has spawned. Second, this comment addresses current practical and legal challenges to enforcement of Title III of the ADA, including commercial property owners’ lack of understanding ADA responsibilities, serial litigation, and standing in courts. Finally, this comment proposes a new emphasis on ADA enforcement within the real estate industry. Such focus would obviate the need for many private lawsuits, place responsibility for ADA enforcement on parties involved in commercial real estate transactions and result in more effective implementation of both the spirit and letter of the ADA.

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.

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