scholarly journals The Impacts in Real Estate of Landscape Values: Evidence from Tuscany (Italy)

2021 ◽  
Vol 13 (4) ◽  
pp. 2236
Author(s):  
Francesco Riccioli ◽  
Roberto Fratini ◽  
Fabio Boncinelli
Keyword(s):  
Real Estate ◽  
House Prices ◽  
Spatial Econometric ◽  
The Real ◽  
The Real Estate ◽  
Landscape Values ◽  
Individual Perception ◽  
Real Estate Prices ◽  
The Aesthetic ◽  
The Individual

Using spatial econometric techniques and local spatial statistics, this study explores the relationships between the real estate values in Tuscany with the individual perception of satisfaction by landscape types. The analysis includes the usual territorial variables such as proximity to urban centres and roads. The landscape values are measured through a sample of respondents who expressed their aesthetic-visual perceptions of different types of land use. Results from a multivariate local Geary highlight that house prices are not spatial independent and that between the variables included in the analysis there is mainly a positive correlation. Specifically, the findings demonstrate a significant spatial dependence in real estate prices. The aesthetic values influence the real estate price throughout more a spatial indirect effect rather than the direct effect. Practically, house prices in specific areas are more influenced by aspects such as proximity to essential services. The results seem to show to live close to highly aesthetic environments not in these environments. The results relating to the distance from the main roads, however, seem counterintuitive. This result probably depends on the evidence that these areas suffer from greater traffic jam or pollution or they are preferred for alternative uses such as for locating industrial plants or big shopping centres rather than residential use. Therefore, these effects decrease house prices.

Assessing the Demand for Online Integration Platforms in the Real Estate Business

2020 ◽  
Vol 26 (1) ◽  
pp. 46-54
Author(s):  
N. S. Alekseeva ◽  
A. E. Druzhinin
Keyword(s):  
Real Estate ◽  
Real Estate Market ◽  
Passenger Transport ◽  
Integration Platform ◽  
Online Platform ◽  
The Real ◽  
The Real Estate ◽  
The Real Estate Market ◽  
Hospitality Sector ◽  
The Individual

Examination of the real estate market shows that implementing innovations in this field is a very difficult task. This prompts the question of the necessity of digitalizing the real estate business and of the demand for online integration platforms in this field.Aim. The presented study aims to assess the demand for online integration platforms in the real estate business.Tasks. The authors compare the online integration platforms in the real estate market with the online integration platforms in the hospitality sector and the individual passenger transport market in terms of the share of user profits that integrators receive for their services on the online platform; compare the share of user profits that integrators receive for their services on the online platform with the equivalent indicator in various other global economic activities; assess the value of the services provided by an online integration platform using the methodology proposed by G. G. Azgaldov and N. N. Karpova.Methods. The data were acquired from public Internet sources and personal interviews with the directors of companies that represent or employ the services of online integration platforms in St. Petersburg. The interviews and work with Internet sources were conducted in November 2019.Results. An integrator in the real estate market receives a share of profits of their service users that is comparable to that of the integrators in the hospitality sector and the individual passenger transport market. The share of profits of a Russian integrator in the real estate market is significantly higher than that in such industries as entertainment, fashion, or sports. The value of an online integration platform can be defined as highly valuable, since the expected value of this indicator is 1.5 times higher than the maximum table value.Conclusions. The performed analysis shows a high demand for online integration platforms in the real estate business. Market participants are willing to pay for the ability to use new digital technologies.

scholarly journals Evaluation of the Applicability of Statistical Methods in Studies on Price Dynamics on the Real Estate Market

2013 ◽  
Vol 21 (1) ◽  
pp. 49-58 ◽  
Author(s):  
Sebastian Kokot ◽  
Marcin Bas
Keyword(s):  
Real Estate ◽  
Traditional Approach ◽  
Real Estate Market ◽  
Price Dynamics ◽  
The Real ◽  
The Real Estate ◽  
Transaction Prices ◽  
Time Period ◽  
The Real Estate Market ◽  
Real Estate Prices

Abstract The specific character of the real estate market is the reason why observations of transaction prices seen as statistical variables are taken in a non-standard way. In the traditional approach each time period or specific moments of time are attributed with one observation of a studied variable per one object. In the case of the real estate market, this is not possible since transactions relate to different objects, i.e., properties, and occur at irregular, or even random, moments. This is why traditional methods used to examine the dynamics of economic phenomena must be adapted to specific conditions on the real estate market. Keeping that in mind, the aim of this paper is to adapt classical statistical examination methods of dynamics to specific conditions of the real estate market followed by the actual examination of the dynamics of real estate prices in three sub-segments of the housing market in Szczecin. On its basis, the authors evaluate various methods of examining real estate price dynamics in terms of their applicability in real estate appraisal procedures and, in a broader perspective, present characteristic phenomena that can be observed on the real estate market.

scholarly journals Use of Statistical Models for Simulating Transactions on the Real Estate Market

2015 ◽  
Vol 23 (2) ◽  
pp. 102-111 ◽  
Author(s):  
Radosław Cellmer ◽  
Katarzyna Szczepankowska
Keyword(s):  
Probability Distribution ◽  
Real Estate ◽  
Statistical Models ◽  
Real Estate Market ◽  
Model Parameters ◽  
The Real ◽  
The Real Estate ◽  
Transaction Prices ◽  
The Real Estate Market ◽  
Real Estate Prices

Abstract The regularities and relations between real estate prices and the factors that shape them may be presented in the form of statistical models, thanks to which the diagnosis and prediction of prices is possible. A formal description of empirical observation presented in the form of regressive models also offers a possibility for creating certain phenomena in a virtual dimension. Market phenomena cannot be fully described with the use of determinist models, which clarify only a part of price variation. The predicted price is, in this situation, a special case of implementing a random function. Assuming that other implementations are also possible, regressive models may constitute a basis for simulation, which results in the procurement of a future image of the market. Simulation may refer both to real estate prices and transaction prices. The basis for price simulation may be familiarity with the structure of the analyzed market data. Assuming that this structure has a static character, simulation of real estate prices is performed on the basis of familiarity with the probability distribution and a generator of random numbers. The basis for price simulation is familiarity with model parameters and probability distribution of the random factor. The study presents the core and theoretical description of a transaction simulation on the real estate market, as well as the results of an experiment regarding transaction prices of office real estate located within the area of the city of Olsztyn. The result of the study is a collection of virtual real properties with known features and simulated prices, constituting a reflection of market processes which may take place in the near future. Comparison between the simulated characteristic and actual transactions in turn allows the correctness of the description of reality by the model to be verified.

scholarly journals The use of mean values for reporting real estate prices

2021 ◽  
Vol 64 (04) ◽  
pp. 513-532
Author(s):  
Melita Ulbl ◽  
Andraž Muhič
Keyword(s):  
Real Estate ◽  
Real Estate Market ◽  
Mean Values ◽  
The Real ◽  
The Real Estate ◽  
The Real Estate Market ◽  
Special Challenge ◽  
The Republic ◽  
Real Estate Prices ◽  
The One

The proper and unambiguous reporting of the real estate market is one of the main requirements for ensuring its transparency. Reporting on the prices of real estate realised on the market is a special challenge here. For this purpose, averages are generally used, requiring both the reporter and the reader to be well acquainted with the rules of individual types of averages on the one hand and the specificities and heterogeneity of the real estate market on the other. In this paper, we present the specifics of individual mean values that can be used for this purpose. These characteristics are analysed in more detail and presented in the case of the Slovenian housing market. The purpose of this paper is to present the dilemmas faced in Slovenia when reporting on real estate prices on the market and present the solutions that the Surveying and Mapping Authority of the Republic of Slovenia will begin to introduce in its reports on the real estate market.

scholarly journals COVID-19 Infects Real Estate Markets: Short and Mid-Run Effects on Housing Prices in Campania Region (Italy)

2020 ◽  
Vol 9 (7) ◽  
pp. 114 ◽  
Author(s):  
Vincenzo Del Giudice ◽  
Pierfrancesco De Paola ◽  
Francesco Paolo Del Giudice
Keyword(s):  
Real Estate ◽  
Housing Prices ◽  
Real Estate Market ◽  
Campania Region ◽  
Real Estate Markets ◽  
The Real ◽  
The Real Estate ◽  
Short Run ◽  
Predator Model ◽  
Real Estate Prices

The COVID-19 (also called “SARS-CoV-2”) pandemic is causing a dramatic reduction in consumption, with a further drop in prices and a decrease in workers’ per capita income. To this will be added an increase in unemployment, which will further depress consumption. The real estate market, as for other productive and commercial sectors, in the short and mid-run, will not tend to move independently from the context of the aforementioned economic variables. The effect of pandemics or health emergencies on housing markets is an unexplored topic in international literature. For this reason, firstly, the few specific studies found are reported and, by analogy, studies on the effects of terrorism attacks and natural disasters on real estate prices are examined too. Subsequently, beginning from the real estate dynamics and economic indicators of the Campania region before the COVID-19 emergency, the current COVID-19 scenario is defined (focusing on unemployment, personal and household income, real estate judicial execution, real estate dynamics). Finally, a real estate pricing model is developed, evaluating the short and mid-run COVID-19 effects on housing prices. To predict possible changes in the mid-run of real estate judicial execution and real estate dynamics, the economic model of Lotka–Volterra (also known as the “prey–predator” model) was applied. Results of the model indicate a housing prices drop of 4.16% in the short-run and 6.49% in the mid-run (late 2020–early 2021).

scholarly journals Assessment of the flood damages on the real estate property in the Czech Republic area

2010 ◽  
Vol 56 (No. 7) ◽  
pp. 317-324 ◽  
Author(s):  
J. Korytárová ◽  
V. Hromádka
Keyword(s):  
Real Estate ◽  
Flood Protection ◽  
Protection Measures ◽  
The Real ◽  
The Real Estate ◽  
Estate Property ◽  
Basic Quality ◽  
The Individual ◽  
The Given ◽  
Property Index

The problem of floods can be solved by investment activities in the form of the flood protection measures or by the potential liquidation of damages after the flood. In the frame of the solved grant projects, there was developed the basic methodology for the losses on the immovable property in the territory assessment and consequently the database of input data for its use. The output of the described methodology enables the comparison of the potential losses on immovable property with the investment costs for the flood protection measures. In order to be able to estimate the occurred losses, the own method has been developed by the members of the research team. This method consists of the specification of the territorial property valuation and the evaluation of the damage on the territorial property caused by floods. The basic quality of the Territorial Property Index is that it respects the generally defined structure of the real estate property in the given area. The Territorial Property Index is then calculated for the individual area categories. While evaluating the damage, first the measure of the damages of the property representatives depending on the hydrological situation defined in advance must be investigated. The damages are then estimated based on three defined primary parameters.  

scholarly journals ANALYSIS OF PRICING FACTORS IN REAL ESTATE MARKET

2019 ◽  
Vol 6 (2) ◽  
pp. 79-85
Author(s):  
Maria Chernyshova ◽  
Arina Malenkaya ◽  
Tatyana Mezhuyeva
Keyword(s):  
Real Estate ◽  
Supply And Demand ◽  
Market Price ◽  
Real Estate Market ◽  
Physical Factors ◽  
The Real ◽  
The Real Estate ◽  
The Real Estate Market ◽  
Pricing Factors ◽  
Real Estate Prices

In the real estate market price depends on supply and demand is formed under the influence of social, economic and physical factors. The article presents the results of the analysis of pricing factors in the real estate market, the forecast of real estate prices in 2019.

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