scholarly journals Transport Mode and the Value of Accessibility–A Potential Input for Sustainable Investment Analysis

2020 ◽  
Vol 12 (5) ◽  
pp. 2143 ◽  
Author(s):  
Jonas Eliasson ◽  
Fredrik Kopsch ◽  
Svante Mandell ◽  
Mats Wilhelmsson
Keyword(s):  
Real Estate ◽  
Cost Benefit ◽  
Point Of View ◽  
Single Family ◽  
Railway Stations ◽  
Perceived Safety ◽  
Sustainable Investment ◽  
Infrastructure Investments ◽  
Real Estate Prices

Accessibility plays an essential role in determining real estate prices and land use. An understanding of how accessibility and changes in accessibility influence real estate prices is key to making decisions regarding investments in infrastructure projects. From an accessibility point of view, it is not clear that there should be differences in valuation depending on the mode of public transport, road, or rail. There are, however, other differences that may affect real estate prices differently. For example, railway stations more often than bus stations, tend to be associated with a higher level of service. In addition, an investment in a railway station may signal a long-term decision from the policymaker. A third possible explanation concerns differences in perceived safety, comfort, and security. This paper aims to study if and how capitalization of accessibility differs between modes of transportation. The findings indicate that rail has a higher impact, both for single-family and multifamily houses. The implication of these findings may be of importance for future infrastructure investments and their corresponding cost-benefit analyses. Incorrect valuations of the benefits of infrastructure investments may result in sub-optimal investments.

scholarly journals Differentiation of Local Housing Markets in the Poznań Suburban Area

2013 ◽  
Vol 21 (3) ◽  
pp. 88-98 ◽  
Author(s):  
Justyna Tanaś
Keyword(s):  
Real Estate ◽  
Housing Markets ◽  
Regression Function ◽  
Single Family ◽  
Property Market ◽  
The Real Estate ◽  
Basic Source ◽  
Family Housing ◽  
Real Estate Prices ◽  
Source Of Information

Abstract In recent years, there has been a strong interest in land intended for single-family housing in the suburban zones of big cities. This is strongly related to the suburbanization process. In the present study, the author endeavored to present the differentiation of local markets of undeveloped real estate intended for single-family housing in the suburban zones of Poznań. Notary deeds related to sales transactions in the segment of undeveloped land plots were the basic source of information used in the article. The article shortly discusses the specifics of the land market in the suburban zone, presents the research method (the nature of the real estate prices index) and then, creates a regression function of plot prices and indicates hedonic prices for undeveloped plots intended for single-family housing in particular communes. Finally, it seeks to define the similarities and differences within the local undeveloped property market in the Poznań agglomeration.

scholarly journals The Urban Blight Costs in Taiwan

2020 ◽  
Vol 13 (1) ◽  
pp. 113
Author(s):  
Chich-Ping Hu ◽  
Tai-Shan Hu ◽  
Peilei Fan ◽  
Hai-Ping Lin
Keyword(s):  
Real Estate ◽  
Urban Space ◽  
Housing Prices ◽  
Spillover Effect ◽  
Well Being ◽  
Hedonic Model ◽  
Urban Blight ◽  
The Government ◽  
Real Estate Prices

Urban blight is not only an eyesore for city residents, but also a threat to health, psychological well-being, and safety. It not only represents substantial economic decline, but also spreads through urban space. As well as the loss of personal property value, urban blight also harms public interests in the public domain. This study finds that danger and age are the two main factors of urban blight. Ignoring these two factors causes housing prices to fall. The decline in population due to long-term economic stagnation and the exodus of residents and industries, coupled with the long-term decline in income and spending on maintenance of old houses, has led to major visual and physical economic blight. This investigation adopts the hedonic model to analyze the correspondence of house prices with urban blight, based on real estate prices and related township variables announced by the government in Taiwan in 2017, and applies the spatial regression model to investigate the direct and indirect effects of real estate prices. The following conclusions can be drawn from the analytical results. 1. The spatial lag model finds that urban blight has a spatial spillover effect. 2. The government must not disregard the blight, due to its detrimental effect on housing prices and spatial diffusion effect. 3. The factors that affect the blight are age of residents, age of buildings, poverty, and danger.

scholarly journals Urbanization processes related to the development of residential functions in gminas adjacent to the city of Olsztyn

2016 ◽  
Vol 33 (33) ◽  
pp. 131-143 ◽  
Author(s):  
Agnieszka Szczepańska
Keyword(s):  
Real Estate ◽  
Urban Areas ◽  
Construction Projects ◽  
Real Estate Market ◽  
Social Changes ◽  
Single Family ◽  
Social Infrastructure ◽  
Political Transformations ◽  
Real Estate Prices ◽  
The City

Abstract Political transformations in Poland have led to rapid suburbanization. Suburbias are beginning to develop functions and services characteristic of urban areas. The highest rate of growth is noted in residential development, in particular in the segment of single-family homes. Those developments bring about changes in demographics and social infrastructure. This study analyzes 4,000 real estate transactions conducted in 2007-2014, involving land plots zoned for residential construction, in order to determine the spatial changes that take place in the gminas adjacent to the city of Olsztyn, in view of the development of the local real estate market. The major trends relating to the number of concluded transactions, changes in real estate prices over time, the number of completed construction projects (new single-family homes) and changes in land-use structure are described. Demographic and social changes that inevitably follow from urbanization are described in the analyzed gminas. The results of this study will be used to determine whether Olsztyn’s suburbias are merely “bedroom communities” or whether they constitute autonomous territorial units.

scholarly journals COMPARISON OF SLOVAKIA REGIONS BASED ON SCORING METHOD

2021 ◽  
Author(s):  
Ľubica Hurbánková ◽  
Keyword(s):  
Real Estate ◽  
Gross Domestic Product ◽  
Poverty Line ◽  
Point Of View ◽  
Housing Cost ◽  
Scoring Method ◽  
Per Capita ◽  
Real Estate Prices ◽  
Microsoft Office ◽  
Integral Indicator

The aim of the paper is to analyse the regions of Slovakia using selected indicators related to housing. Indicators entering the analysis are: the proportion of households that consider paying of total housing cost to be very encumbering, the proportion of people below the poverty line (60% of median), the unemployment rate, the proportion of households who own a flat/house, average real estate prices, average nominal monthly wage of employee, regional gross domestic product per capita. We will use one of the multi-criteria comparison methods for the analysis, namely the scoring method. Based on this method, we rank the regions according to the value of the integral indicator from the best to the worst. From the results of the analysis, we found out that from the point of view of the analysed indicators the best were placed Trenčín, Nitra and Žilina regions, and the worst Košice and Prešov regions. The application of the statistical method was carried out through the program Microsoft Office Excel.

Inflation hedging and protection characteristics of infrastructure and real estate assets

2015 ◽  
Vol 33 (1) ◽  
pp. 19-44 ◽  
Author(s):  
Daniel Wurstbauer ◽  
Wolfgang Schäfers
Keyword(s):  
Real Estate ◽  
Asset Returns ◽  
Content Type ◽  
Causality Tests ◽  
Short Run ◽  
Short And Long Term ◽  
Infrastructure Investments ◽  
Real Estate Assets ◽  
Inflation Hedging

Purpose – Similar to real estate, infrastructure investments are regarded as providing a good inflation hedge and inflation protection. However, the empirical literature on infrastructure and inflation is scarce. Therefore, the purpose of this paper is to investigate the short- and long-term inflation-hedging characteristics, as well as the inflation protection associated with infrastructure and real estate assets. Design/methodology/approach – Based on a unique data set for direct infrastructure performance, a listed infrastructure index, common direct and listed real estate indices, the authors test for short- and long-term inflation-hedging characteristics of these assets in the USA from 1991-2013. The authors employ the traditional Fama and Schwert (1977) framework, as well as Engle and Granger (1987) co-integration tests. Granger causality tests are further conducted, so as to gain insight into the short-run dynamics. Finally, shortfall risk measures are applied to investigate the inflation protection characteristics of the different assets over increasingly long investment horizons. Findings – The empirical results indicate that in the short run, only direct infrastructure provides a partial hedge against inflation. However, co-integration tests suggest that all series have a long-run co-movement with inflation, implying a long-term hedge. The causality tests reveal reverse unidirectional causality – while real estate asset returns are Granger-caused by inflation, infrastructure asset returns seem to cause inflation. These findings further confirm that both assets represent a distinct asset class. Ultimately, direct infrastructure investments exhibit the most desirable inflation protection characteristics among the set of assets. Research limitations/implications – This study only presents results based on a composite direct infrastructure index, as no sub-indices for sub-sectors are available yet. Practical implications – Investors seeking assets that are sensitive to inflation and mitigate inflation risk should consider direct infrastructure investments in their asset allocation strategy. Originality/value – This is the first study to examine the ability of direct infrastructure to assess inflation risk.

scholarly journals The Influence Of Financing On The Dynamics Of Housing Prices

2014 ◽  
Vol 14 (2) ◽  
pp. 101-113
Author(s):  
Mirosław Bełej ◽  
Sławomir Kulesza
Keyword(s):  
Real Estate ◽  
Open Systems ◽  
Housing Prices ◽  
Real Estate Market ◽  
The Real ◽  
The Real Estate ◽  
The Real Estate Market ◽  
Real Estate Prices ◽  
National Housing

Abstract Real estate market can be thought of as an open, dynamic system. It means that it is able to exchange stimuli with other open systems, and that its state evolves in a way that might be described mathematically. It turns out that two main processes contribute to the overall evolution of the real estate market: long-term, predictable evolution, interrupted by sharp changes of catastrophic origin. In this picture, national housing funds play an important role in supporting the housing finance: on one hand they could either stimulate or suppress the real estate market influencing the availability of the mortgage credit, but on the other hand, they could also help to stabilize prices. In this study, an attempt was made to determine the degree of relationship between the volume of mortgage financing from national housing funds and the dynamics of real estate prices.

Confidentiality of Statistical Records: A Threat-Monitoring Scheme for On Line Dialogue

1976 ◽  
Vol 15 (01) ◽  
pp. 36-42 ◽  
Author(s):  
J. Schlörer
Keyword(s):  
Statistical Data ◽  
Cost Benefit ◽  
Data Bank ◽  
High Ratio ◽  
Point Of View ◽  
Data Sets ◽  
Monitoring Scheme ◽  
Access Controls ◽  
On Line ◽  
Bona Fide

From a statistical data bank containing only anonymous records, the records sometimes may be identified and then retrieved, as personal records, by on line dialogue. The risk mainly applies to statistical data sets representing populations, or samples with a high ratio n/N. On the other hand, access controls are unsatisfactory as a general means of protection for statistical data banks, which should be open to large user communities. A threat monitoring scheme is proposed, which will largely block the techniques for retrieval of complete records. If combined with additional measures (e.g., slight modifications of output), it may be expected to render, from a cost-benefit point of view, intrusion attempts by dialogue valueless, if not absolutely impossible. The bona fide user has to pay by some loss of information, but considerable flexibility in evaluation is retained. The proposal of controlled classification included in the scheme may also be useful for off line dialogue systems.

Selective statistical estimates of multi-year monthly concentrations of biogenous pollution of small rivers of the Northwest zone of the Russian Federation

2020 ◽  
pp. 9-13
Author(s):  
Sergey Kovalenko
Keyword(s):  
Statistical Processing ◽  
Point Of View ◽  
Small Rivers ◽  
Statistical Parameters ◽  
Monthly Data ◽  
Statistical Estimates ◽  
Scientific Task ◽  
The Russian Federation ◽  
Agricultural Areas

The management of surface watercourses is an urgent scientific task. The article presents the results of statistical processing of long-term monthly data of field observations of hydrological and hydrochemical parameters along the Upper Yerga small river in the Vologda region. Sampling estimates of statistical parameters are obtained, autocorrelation and correlation analyzes are performed. The limiting periods from the point of view of pollution for water receivers receiving wastewater from drained agricultural areas are identified.

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