scholarly journals Analyzing Operational Efficiency in Real Estate Companies: An Application of GM (1,1) and DEA Malmquist Model

Mathematics ◽  
2021 ◽  
Vol 9 (3) ◽  
pp. 202
Author(s):  
Chia-Nan Wang ◽  
Thi-Ly Nguyen ◽  
Thanh-Tuan Dang
Keyword(s):  
Real Estate ◽  
Data Envelopment ◽  
Future Period ◽  
The Real Estate ◽  
Large Numbers ◽  
Technological Efficiency ◽  
Proposed Model ◽  
The Future ◽  
Output Factors ◽  
Real Estate Management

Real estate management and its operation play a crucial role in supporting company operation. Going hand-in-hand with the rapid growth of companies, the real estate portfolio has expanded dramatically, attracting large numbers of domestic and foreign investors. This paper studied the top 12 real estate companies listed on Vietnam’s stock market to develop a method that combines the Grey methodology and the Data Envelopment Analysis (DEA) Malmquist model, intending to predict and evaluate their performances in two periods: 2015–2018 and 2019–2022. The proposed model considered three input factors, namely total assets, cost of sales, and cost of goods sold, and two output factors, namely total revenue and gross profit. Findings revealed that drastic efficiency changes in some companies should be observed at the beginning of the process, even if the technological efficiency in the period is stable. In the future period, most companies achieved relatively stable productivity. This study serves as a reference for policymakers and strategy makers by analyzing insights for the operational status of real estate businesses and providing an overview in the future toward sustainable development.

Forecast of the efficiency confidence interval of decision-making units in data envelopment analysis

2020 ◽  
Vol 33 (02) ◽  
pp. 431-445
Author(s):  
Azarnoosh Kafi ◽  
Behrouz Daneshian ◽  
Mohsen Rostamy-Malkhalifeh ◽  
Mohsen Rostamy-Malkhalifeh
Keyword(s):  
Decision Making ◽  
Data Envelopment Analysis ◽  
Confidence Interval ◽  
Data Envelopment ◽  
Data Set ◽  
Interval Model ◽  
Time Period ◽  
Proposed Model ◽  
The Future ◽  
Decision Making Units

Data Envelopment Analysis (DEA) is a well-known method for calculating the efficiency of Decision-Making Units (DMUs) based on their inputs and outputs. When the data is known and in the form of an interval in a given time period, this method can calculate the efficiency interval. Unfortunately, DEA is not capable of forecasting and estimating the efficiency confidence interval of the units in the future. This article, proposes a efficiency forecasting algorithm along with 95% confidence interval to generate interval data set for the next time period. What’s more, the manager’s opinion inserts and plays its role in the proposed forecasting model. Equipped with forecasted data set and with respect to data set from previous periods, the efficiency for the future period can be forecasted. This is done by proposing a proposed model and solving it by the confidence interval method. The proposed method is then implemented on the data of an automotive industry and, it is compared with the Monte Carlo simulation methods and the interval model. Using the results, it is shown that the proposed method works better to forecast the efficiency confidence interval. Finally, the efficiency and confidence interval of 95% is calculated for the upcoming period using the proposed model.

scholarly journals What Drives Consumer’s Intention to use Online Property Websites: A Conceptual Model

2018 ◽  
pp. 630-633
Keyword(s):  
Real Estate ◽  
Conceptual Model ◽  
Construction Industry ◽  
Real Estate Market ◽  
Future Research ◽  
Intention To Use ◽  
The Real Estate ◽  
Proposed Model ◽  
The Real Estate Market ◽  
Conceptual Paper

The real estate market in Malaysia is growing as the nation grows more prosperous. There were 376,583 transactions recorded in Malaysia in 2010 with an aggregate worth RM107.44 billion (Construction Industry Development ,2016). This study intends to inspect the factors that drive consumer’s intention to use online property website. Previous literature does not include in-depth analyses such as consumer behavior. Hence, this conceptual paper proposes a model the key constructs that determine consumers’ intention to use online property website based on the Stimulus-Organism-Response (S-O-R) model. The proposed model integrates the S-O-R model with atmospheric cues from websites such as informativeness, effectiveness and entertainment. The results of the study provide significant insights the phenomenon of using online property ads and factors that influence consumers’ intention regarding online property websites. Recommendations for future research are also presented.

The Concept of Land Real Estate in the Act on Real Estate Management

2020 ◽  
Vol 2(22) ◽  
pp. 37-46
Author(s):  
Michał Kiedrzynek
Keyword(s):  
Real Estate ◽  
Civil Law ◽  
The Real ◽  
The Real Estate ◽  
The Subject ◽  
Estate Management ◽  
Definition Of ◽  
Real Estate Management

The management of public real estate has been regulated in many legal acts, among which the Act of August 21, 1997 on real estate management plays the greatest role. The definitions contained in it are intended to explain the most important concepts related to the subject of this act. However, with regard to the definition of land real estate, we are dealing with a repetition of what was defined by the provisions of civil law. Such a situation raises justified interpretation doubts, which may have significant consequences in the application of this act. The existence of two definitions for the same object is undesirable and the Real Estate Management Act should be amended in this respect by including an appropriate reference to the provisions of civil law.

Analysis of the Influence of Properties Management in the Region on the Transaction Prices Level of Unbuilt Land Properties – Case Study

2017 ◽  
Author(s):  
Monika Mika ◽  
Monika Siejka ◽  
Przemysław Len
Keyword(s):  
Real Estate ◽  
Urban Areas ◽  
Temporal Distribution ◽  
The State ◽  
Local Market ◽  
The Real Estate ◽  
Transaction Prices ◽  
State Of The Economy ◽  
Spatio Temporal ◽  
Real Estate Management

This article presents the results of analysis of the influence of selected economic, legal and environmental factors on the level of transaction prices of unbuilt land properties, in two randomly selected districts of the southern Poland. The results of the research allowed extraction of a group of factors influencing the spatial distribution of the average prices of the surveyed properties. They gave also the answer to the question about the extent to which the unit prices are confirmed by the state of properties management in the region. An analysis of the existing state in the selected region based on the analysis of the local market was performed. Furthermore, the conformity of local plans for the studied areas was examined, as well as an analysis of spatio-temporal distribution of transaction prices of real estate was performed. The research has shown that the level of transaction prices on the local real estate markets is related to the real estate management of the surveyed areas. The state of the economy is affected by many factors, most important of which seems to be the location in relation to urban areas and the condition of the access roads. The undertaken tests correspond with the directions of the world research.

Local Investments Site Selection and the Behavior of the Real Estate Market – Case Study in Poland

2017 ◽  
Author(s):  
Monika Siejka
Keyword(s):  
Economic Development ◽  
Real Estate ◽  
Negative Impact ◽  
Real Estate Market ◽  
The European Union ◽  
The Real Estate ◽  
The Real Estate Market ◽  
Real Estate Management

One of the main tasks of real estate management in the area of the municipality is making decisions concerning the location of investments on a local scale. These decisions should be taken with the principle of sustainable development. For such an action obliges Poland's membership in the European Union. Poland as a member of the EU is obliged to implement the rules in force in the Member States. Bearing in mind that any investment impact directly or indirectly on the economic development of the municipality, is therefore a significant impact on the local real estate market. Investments that have a negative impact on the environment can contribute to a reduction in the activity of the local real estate market. While performing tasks related to the economic development of the region and the increase in quality of life, increases the activity of the local real estate market. The work was carried out research on the dynamics of changes in the local real estate market in the area of the municipality Skrzyszow in the Malopolska province in Poland, in connection with the construction of the reservoir.

The Cadastre with Respect to the Integrated System of Real Estate Information

2017 ◽  
Author(s):  
Jadwiga Konieczna
Keyword(s):  
Real Estate ◽  
Spatial Information ◽  
Real Estate Market ◽  
Integrated System ◽  
Easy Access ◽  
The Real Estate ◽  
The Real Estate Market ◽  
Two Factors ◽  
Real Estate Management ◽  
Proper Operation

The strength of each country is determined by two factors, namely the economy and efficient administration. One of the instruments allowing the administration to perform its tasks is a fully operational system of real estate information, which meets the requirements commonly imposed on the systems of spatial information. This includes such prerequisites as: the reliability of up-to-date information issued from the system, easy access to this information, and ensuring the protection thereof. An effective real estate management system is largely determined by an efficiently operating Cadastre, an institution with a century-old tradition, to which the legislator has assigned specific tasks, and which provides the basis for specific decision-making actions associated, inter alia, with the real estate market. The aim of the paper is to present the scope of work carried out in Poland as part of the development of the Integrated System of Real Estate Information (Polish: Zintegrowany System Informacji o Nieruchomosciach, ZSIN), and the possibilities for the use of existing information systems with a particular emphasis on cadastral data. The paper defines the tasks, principles and functions of the Cadastre, as well as the indicated direction of changes allowing the Cadastre to be adjusted to the proper operation of the ZSIN.

Online Technology to Manage the Real Estate Owned (REO) Process

2014 ◽  
Vol 5 (1) ◽  
pp. 31-49
Author(s):  
David Gadish
Keyword(s):  
Real Estate ◽  
Business Intelligence ◽  
Workflow Engine ◽  
Software Suite ◽  
The Real Estate ◽  
Online Technology ◽  
Shared Data ◽  
Data Points ◽  
Business Functions ◽  
Real Estate Management

The WinREO real estate management software provides a case for extracting business intelligence benefits for a small/medium-sized business systematically as part of other business functions. The software was developed by breaking down the complex REO sales business process into a series of data points, which can then be captured from users as part of a workflow engine. These many tables of data are used to construct tailored workflows and combined to produce meaningful reports for various users inside the organization. Tools for collaboration on the basis of shared data, performance measurement and knowledge management bring additional business intelligence benefits to a small- or medium-sized real estate office through continuous collection of data in various sections of a the software suite. This document details the software's functions, noting the various instance and implementations of data collection for these purposes.

Corporate real estate strategies: the Nigerian experience

2015 ◽  
Vol 17 (4) ◽  
pp. 244-259
Author(s):  
Timothy Tunde Oladokun ◽  
Bioye Tajudeen Aluko
Keyword(s):  
Real Estate ◽  
Business Performance ◽  
Stock Exchange ◽  
Primary Data ◽  
Content Type ◽  
The Real Estate ◽  
Corporate Objective ◽  
Corporate Real Estate ◽  
Public Organisations ◽  
Real Estate Management

Purpose – The paper aims to contribute to the empirically scarce literature on corporate real estate management (CREM) strategies by providing meaningful insights on the different strategies likely to contribute to business performance in a developing country like Nigeria. Design/methodology/approach – Primary data collected using questionnaire administered on property managers of the 105 business organisations in the list of registered companies with the Nigerian Stock Exchange were used for the study. The questionnaire elicited information on the real estate holding pattern and the adopted strategies for acquiring and managing real estate assets. The data collected were analysed using percentages, mean and proportion method. Findings – The study established that 41 per cent of the organisations were public organisations. Others were private companies (31 per cent), government departments (18 per cent) and multi-nationals (10 per cent). The result indicated that 31.8 per cent had no CREM strategy. Strategies used were: cost reduction (18.75 per cent), facilitate production (20.17 per cent), flexibility (15.5 per cent), promote human resource objectives (10.86 per cent), promote the marketing message (4.33 per cent), promote sales and selling delivery (18.67 per cent), facilitate managerial process and knowledge (7.5 per cent) and capture real estate value (6.5 per cent). The study concluded that CREM is a useful tool that the organisations can make effective use of to improve their performance. Research limitations/implications – Limiting the scope of the study to the perception of the respondents could reflect an element of bias and might pose a great challenge to the representativeness. Also, the use of closed question questionnaire may limit the validity of the results. Practical implications – The study has major implications on business performance in Nigeria. There is the need for corporations to reappraise their real estate strategy and realign it with their corporate objective. There is also the need for Nigerian Institution of Estate Surveyors and Valuers to train its members for contemporary business requirements. Originality/value – The paper is a useful guide to corporate real estate managers in developing countries towards using real estate strategies to minimize the overall cost of their companies.

scholarly journals New Spatial Planning Data Access Methods Through The Implementation Of The Inspire Directive

2014 ◽  
Vol 22 (1) ◽  
pp. 9-21
Author(s):  
Iwona Kaczmarek ◽  
Adam Iwaniak ◽  
Jaromar Łukowicz
Keyword(s):  
Real Estate ◽  
Spatial Planning ◽  
Information Technologies ◽  
Spatial Information ◽  
Data Access ◽  
Real Estate Market ◽  
Access Methods ◽  
The Real Estate ◽  
New Information ◽  
Real Estate Management

Abstract Constant access to reliable information concerning future land use is of utmost importance for the real estate market as well as for spatial monitoring and public participation in spatial planning. The implementation of the INSPIRE Directive (Directive 2007/2/EC of the European Parliament and of the Council of 14 March 2007 establishing an Infrastructure for Spatial Information in the European Community) introduces new means for sharing spatial planning data. According to the Act of March 4 2010 on Spatial Information Infrastructure, which is a transposition of the Directive, every member state is obliged to publish data and metadata concerning the subject of spatial planning. In the Directive, this is defined as a “territory characterized according to its current and future planned functional dimension or socio-economic purpose (e.g., residential, industrial, commercial, agricultural, forestry, recreational)”. In the article, the authors present new possibilities for spatial planning data access, which result from the implementation of the INSPIRE Directive with the use of new information technologies, in the context of real estate management conditions.

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