scholarly journals VALUE STABILITY IN LOCAL REAL ESTATE MARKETS

2010 ◽  
Vol 14 (3) ◽  
pp. 191-199 ◽  
Author(s):  
Tom Kauko
Keyword(s):  
Real Estate ◽  
General Concept ◽  
Quality Level ◽  
Economic Sustainability ◽  
Residential Areas ◽  
Property Market ◽  
Urban Context ◽  
Real Estate Markets ◽  
Development Framework ◽  
Real Estate Investments

Whenever real estate investments are considered in a more sustainable development framework, the issue is about finding the appropriate criteria of physical, social and economic sustainability. While this topic has business and social policy relevance, academic work on defining the relevant indicators is yet speculative, due to a shortage of standard definitions and relevant data. The general concept of economic sustainability of the property market comprises a variety of more particular measures. In order to design a valid methodology for assessment purposes, in this study a property value stability trend is determined for specific residential areas. This indicator is composed of property sales prices and the quality level of the existing stock in a given area. The findings from a selected demonstration of the development of price‐to‐quality ratios in an urban context have implications for further research as well as for practice. Santruka Intensyvejant pasaulines klimato kaitos darbotvarkei, investicijos i nekilnojamaji turta daugelyje miesto teritoriju jau traktuojamos atsižvelgiant i darnesne pletros sistema. Keliamas klausimas del fizines, socialines ir ekonomines investiciju darnos. Galimybe statyti naujus pastatus arba atnaujinti senus, šios veiklos igyvendinimo galimybes ir būtinybe priklauso nuo miesto rajono ir nuo paties miesto pobūdžio, nuo institucines sarangos ten, kur investuojama. Be to, svarbi būstuose gyvenančiu žmoniu gyvenimo kokybe ir ju kasdiene gyvenamoji aplinka. Nors ši tema aktuali verslui ir socialinei politikai, mokslinis darbas nustatant aktualius ekonominius, fizinius ir socialinius vertinimo kriterijus tebera spekuliatyvus, kai trūksta standartiniu apibrežimu ir reikiamu duomenu. Šiame straipsnyje aptariami keli būdingi klausimai ir siūlomos kelios perspektyvios veiklos kryptys su netiesioginiais siūlymais kurti tyrimu metodika, taip pat praktines kryptys.

scholarly journals DIVERSIFICATION BENEFITS IN THE FINNISH COMMERCIAL PROPERTY MARKET

2009 ◽  
Vol 13 (1) ◽  
pp. 23-35 ◽  
Author(s):  
Heidi Falkenbach
Keyword(s):  
Real Estate ◽  
21St Century ◽  
Portfolio Theory ◽  
Early Years ◽  
Property Market ◽  
Commercial Property ◽  
Main Motivation ◽  
Real Estate Investments ◽  
Asset Portfolio ◽  
In The Beginning

The Finnish commercial property market internationalised rapidly in the beginning of the 21st century. According to the portfolio theory and previous research on international property investments, the main motivation factor driving international real estate investments is the possibility to reach diversification benefits. The paper discusses the diversification benefits offered by the Finnish property market in its early years of internationalisation. As international real estate investors in the Finnish property market include investors with both real estate only, as well as mixed‐asset portfolios, the diversification benefits are studied both in terms of a Finnish mixed-asset portfolio, as well as international real estate portfolio. Santruka XXI a. pradžioje Suomijos komercinio nekilnojamojo turto rinkoje sparčiai vyko tarptautiniai procesai. Remiantis portfelio teorija ir ankstesniais tyrimais apie tarptautines investicijas i nekilnojamaji turta, pag rindinis veiksnys, kuris skatina tarptautines nekilnojamojo turto investicijas ‐ tai galimybe gauti diversifi kacijos teikiama nauda. Darbe aptariama, kokia nauda siūle Suomijos nekilnojamojo turto rinka ankstyvaisiais internacionalizacijos metais. Kadangi kai kurie Suomijos nekilnojamojo turto rinkoje veikiantys tarptautiniai nekilnojamojo turto investuotojai užsiima tik nekilnojamuoju turtu, o yra ir tokiu, kurie turi mišraus turto portfelius, diversifi kacijos nauda nagrinejama ir pagal Suomijos mišraus turto portfeli, ir pagal tarptautini nekilnojamojo turto portfeli.

How different actors shape the real estate market for informal settlements in Lagos

2020 ◽  
Vol 32 (2) ◽  
pp. 371-388
Author(s):  
Akunnaya Pearl Opoko ◽  
Adedapo Adewunmi Oluwatayo ◽  
Bayo Amole ◽  
Ekundayo Adeyemi
Keyword(s):  
Real Estate ◽  
Urban Areas ◽  
Informal Settlements ◽  
Real Estate Market ◽  
Property Market ◽  
Real Estate Markets ◽  
The Real Estate ◽  
The Real Estate Market ◽  
Market Needs

The literature indicates that most housing in the urban areas of many countries in the global South is in informal settlements, provided through informal mechanisms that are often not well understood. This paper contributes to understanding the forces influencing real estate markets in informal settlements, drawing on a case study of the under-researched Ayobo community in Lagos, Nigeria. The paper examines the roles played by government agencies and other market actors, including buyers, sellers, informants, financiers and witnesses, in relation to the operation and regulation of informal land markets. The analysis of the data, drawn from a survey and interviews, reveals a thriving property market, which is socially if not formally regulated. The paper concludes that this flourishing informal market needs strengthening to effectively meet the housing needs of urban residents.

Städtischer Immobilienmarkt und Finanzkrisen im späten 19. Jahrhundert

2011 ◽  
Vol 52 (1) ◽  
Author(s):  
Alexander Nützenadel
Keyword(s):  
Real Estate ◽  
19Th Century ◽  
Financial Crises ◽  
Banking System ◽  
Close Relation ◽  
Real Estate Markets ◽  
Price Bubbles ◽  
The Great Depression ◽  
Real Estate Investments ◽  
The 19Th Century

AbstractThe article explores the relationship between the dynamics of urban real estate markets and financial crises in the second half of the 19th century. This period was not only characterized by brisk urbanization, but also by the emergence of novel instruments to finance the developments of the large metropolises. We argue that basic elements of modern real estate crises can be found already during the 19th century: the inherent trend towards price bubbles, easy credit conditions which allowed the emergence of a subprime market, the close relation between real estate investments and the banking system, and an increasing importance of international finance. There are thus good reasons to compare the crises of 2008 with the financial crises of the late 19th century instead of taking the Great Depression of the 1930s as a yardstick.

scholarly journals RESIDENTIAL PROPERTY MARKET IN THE FUNCTIONAL URBAN AREA OF OLSZTYN IN THE CONTEXT OF DEMOGRAPHIC CHANGES

2017 ◽  
Vol 25 (3) ◽  
pp. 30-39
Author(s):  
Agnieszka Szczepańska
Keyword(s):  
Real Estate ◽  
Urban Area ◽  
Residential Property ◽  
Demographic Changes ◽  
Single Family ◽  
Property Market ◽  
Place Of Residence ◽  
Real Estate Markets ◽  
The Real Estate ◽  
The Core

Abstract The development of cities is accompanied by growth of the real estate markets within the suburban zone of the municipal urban area. This is the zone functionally related to the core city, where the processes occurring in the property market result primarily from decisions taken by city dwellers concerning the choice of their place of residence. This is reflected in completed transactions, which influence demographic changes. Therefore, the property market becomes a reflection of urbanization processes taking place in this area. The conducted research concerns an analysis of the property market in the suburban zone of Olsztyn of building plots, single-family houses and residential premise segments in the context of demographic changes. The results of the research present the dynamics and directions of development of the suburban zone. The period of research covers the years of 2007-2015, and the spatial scope covers the level of communes and the surveying sections they are composed of (villages).

Performance of commercial and residential real estate investments in Ibadan property market, Nigeria

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Olatoye Ojo ◽  
Daniel Ibrahim Dabara ◽  
Michael Tolulope Adeyemi Ajayi
Keyword(s):  
Real Estate ◽  
Causal Relationship ◽  
Investment Decisions ◽  
Least Square ◽  
Residential Real Estate ◽  
Property Market ◽  
Content Type ◽  
Holding Period ◽  
Real Estate Investments ◽  
Inflation Hedging

PurposeThis study examined the performance of commercial and residential real estate investments in the Ibadan property market to provide information for investment decisions.Design/methodology/approachThe study used a mixed research design (qualitative and quantitative). Data were obtained employing in-depth interviews with randomly selected sixteen estate surveyors and valuers practising in the Ibadan property market. Data for the study were analysed using the phenomenological thematic content analysis. Similarly, data on rental and capital values were translated to income, capital and holding period returns. The Kwiatkowski–Phillips–Schmidt–Shin (KPSS) and Philip–Perron (PP) models were used for unit root analysis. Ordinary least square (OLS) regression model was used to test for inflation-hedging characteristics, and the Granger causality tests were carried out to analyse the causal relationship between the variables.FindingsThe study revealed that the Ibadan property market is still immature. For the return components, the study found that the Ibadan property market provided mean holding period returns of 10.82%, 14.31 and 8.29% for office, shop and residential property types, respectively. The study also revealed that the selected property types are perverse hedges against inflation. Similarly, the study showed a unidirectional causal relationship between inflation and returns on the selected property types.Practical implicationsResults of this study revealed the peculiar nature of the Ibadan property market; findings from the survey can be used as a guide for investment decisions by foreign and domestic investors. Shrewd investors can take advantage of the high returns provided by the real estate assets in the Ibadan property market (by investing in the property market) to obtain high returns and expand their investment portfolio.Originality/valueThis study is the first to examine, in an eclectic and comparative context, the performance of commercial and residential properties in the Ibadan property market from the perspective of its market maturity level, returns profile, as well as its inflation-hedging characteristics. Findings from the study will equip both individual and institutional investors with valuable information for investment decisions.

scholarly journals International Real Estate Review

2020 ◽  
Vol 23 (2) ◽  
pp. 211-234
Author(s):  
Kwabena Mintah ◽  
◽  
Woon-Weng Wong ◽  
Peng Yew Wong ◽  
◽  
...  
Keyword(s):  
Real Estate ◽  
Initial Study ◽  
Property Market ◽  
Commercial Property ◽  
Cross Border ◽  
Distributed Lag ◽  
Autoregressive Distributed Lag ◽  
Real Estate Investments ◽  
The Impact

The purpose of this study is to evaluate the impact of cross border real estate investments on the performance of the direct commercial property market in Australia. Using an autoregressive distributed lag (ARDL) model, factors including volume of cross border real estate investments, real gross domestic product (RGDP), office stock, and vacancy and net absorption rates are examined for their impact on total returns. The results indicate that traditionally established long-term drivers, including RGDP, office stock, and vacancy and net absorption rates, are still relevant. It is found that cross border real estate investments have impact on the performance of the direct commercial office property market in Australia. The results and findings would help property investors, developers, policymakers, and stakeholders in decision making around property investments. This research is an initial study that focuses on the impact that cross border real estate investments have on the performance of the direct commercial/office property market in Australia.

Die Macht der Zahlen

2015 ◽  
Vol 59 (1) ◽  
Author(s):  
Nadine Bitterer ◽  
Susanne Heeg
Keyword(s):  
Real Estate ◽  
Real Estate Market ◽  
Real Estate Industry ◽  
Property Market ◽  
Real Estate Markets ◽  
The Real ◽  
The Real Estate ◽  
Local Characteristics ◽  
The Real Estate Market ◽  
Calculative Practices

The power of figures. Calculative practices in the real estate industry. This article examines the role and importance of calculative practices in the process of establishing a global property market. We argue that these practices have contributed to the transformation of the property market into a calculable relation which makes it possible to perceive and assess the real estate market and its objects internationally. Comparability - which includes the transformation of social, political and economic conditions into numbers - has created the context in which investment decisions take place because they suggest transparency and calculability. These practices are created and shared in a network of global real estate professionals and go along with strategies of territorializing and delineating markets. Yet, as we will argue, some local characteristics prove to be persistent and difficult to handle in global calculations. Thus, assessing global real estate markets still implies the challenge to combine local knowledge and global calculation.

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