scholarly journals The Area Vasta of Cagliari: An Insight into the Real Estate Market within a Wider Integrated Approach on the Urban Areas Competitiveness Level

2014 ◽  
Vol 11 ◽  
pp. 549-554
Author(s):  
Francesca Bodano ◽  
Luisa Ingaramo ◽  
Stefania Sabatino
Keyword(s):  
Real Estate ◽  
Urban Areas ◽  
Housing Price ◽  
Integrated Approach ◽  
Real Estate Market ◽  
Added Value ◽  
Analysis Model ◽  
The Real ◽  
The Real Estate ◽  
Insight Into

The paper offers a territorial analysis extracted from the 2013 edition of the Rapporto Annuale di Competitività delle Aree Urbane Italiane (RCAU). The Report (IV edition at present) is produced thanks to the commitment of a multi-curricular partnership, supported by the European Bank of Investment, to enhance the strategic knowledge of investors, potentially interested in the European JESSICA initiative. The insight into the Area Vasta of Cagliari is relevant as it shows the opportunities offered by the competitiveness RCAU standardised analysis model, based on 110 provinces (NUTS territorial units), to develop further in depth studies on thematic clusters or specific areas. The result is the chance of critically comparing fact-finding information at different geographic scales. The analysis herewith presented let to highlight some typical cause-effect relations in the Cagliari Area Vasta from the urban towards the rural territory (i.e.: the real estate values distribution depending on the location of material and immaterial infrastructures, even considering the so called human capital balance). In this respect its remarkable to recall that the housing price tends to capture both intrinsic and extrinsic components, being a good index of territorial competitiveness. One of the added value of the study is its replicability, thanks to the RCAU dataset (80 indicators covering demographic, economic and territorial data), useful to support decision makers in a direct, not strictly technical communication. Among the main RCAU promoters its remarkable the growing role played by Banking Foundations, more and more interested to take advantage of revolving funds investments for the creation of sustainable and resilient strategies.

scholarly journals Urban Vibrancy: An Emerging Factor that Spatially Influences the Real Estate Market

2020 ◽  
Vol 12 (1) ◽  
pp. 346 ◽  
Author(s):  
Alice Barreca ◽  
Rocco Curto ◽  
Diana Rolando
Keyword(s):  
Real Estate ◽  
Urban Areas ◽  
Housing Prices ◽  
Real Estate Market ◽  
Current Status ◽  
The Real ◽  
The Real Estate ◽  
Activity Intensity ◽  
The Real Estate Market ◽  
Spatial Autoregressive

Urban vibrancy is defined and measured differently in the literature. Originally, it was described as the number of people in and around streets or neighborhoods. Now, it is commonly associated with activity intensity, the diversity of land-use configurations, and the accessibility of a place. The aim of this paper is to study urban vibrancy, its relationship with neighborhood services, and the real estate market. Firstly, it is used a set of neighborhood service variables, and a Principal Component Analysis is performed in order to create a Neighborhood Services Index (NeSI) that is able to identify the most and least vibrant urban areas of a city. Secondly, the influence of urban vibrancy on the listing prices of existing housing is analyzed by performing spatial analyses. To achieve this, the presence of spatial autocorrelation is investigated and spatial clusters are identified. Therefore, spatial autoregressive models are applied to manage spatial effects and to identify the variables that significantly influence the process of housing price determination. The results confirm that housing prices are spatially autocorrelated and highlight that housing prices and NeSI are statistically associated with each other. The identification of the urban areas characterized by different levels of vibrancy and housing prices can effectively support the revision of the urban development plan and its regulatory act, as well as strategic urban policies and actions. Such data analyses support a deep knowledge of the current status quo, which is necessary to drive important changes to develop more efficient, sustainable, and competitive cities.

scholarly journals Today's Market Needs Modernized Property Appraisers

2020 ◽  
Vol 28 (4) ◽  
pp. 93-103
Author(s):  
Sabina Źróbek ◽  
Ewa Kucharska-Stasiak ◽  
Małgorzata Renigier-Biłozor
Keyword(s):  
Real Estate ◽  
Urban Areas ◽  
Real Estate Market ◽  
Sustainable Urban Development ◽  
Modern World ◽  
The Real ◽  
The Real Estate ◽  
Analytical Skills ◽  
The Real Estate Market ◽  
Market Needs

AbstractThe article identifies and provides a synthetic overview of various concepts relating to the evolution of the real estate market and property valuation. According to the authors, the processes observed on the real estate market necessitate changes in training programs for property valuers. Real estate appraisers should be able to cope with new consumer expectations and requirements, and they should be well versed in modern technological solutions and analytical tools. The study indicates that, in order to face the challenges of the modern world, the appraisal profession should undergo a paradigm shift to embrace the fact that real estate is a commodity and that globalization is inevitable on the real estate market. Due to the high value of urban areas, a modern specialist determining the value of real estate is particularly needed there. Property valuers should develop new analytical skills, and they should rely on modern data processing tools to collect and process information. Additionally, recent events, including the COVID-19 pandemic, demonstrate that property appraisers should be better prepared for dealing with unprecedented circumstances. The training curricula proposed in this article should increase property valuers’ competencies and effectively support real estate market entities and sustainable urban development.

scholarly journals Households and real estate: Strategies of accumulation and inequality in Spain, 2002-2017

2021 ◽  
pp. 1-4
Author(s):  
Diederik Boertien ◽  
Antonio López-Gay
Keyword(s):  
Real Estate ◽  
Urban Areas ◽  
Housing Prices ◽  
Wealth Inequality ◽  
Real Estate Market ◽  
Economic Resource ◽  
The Real ◽  
The Real Estate ◽  
The Real Estate Market ◽  
Property Owners

Real estate has traditionally been an important economic resource for Spanish households. The development of the real estate market in Spain during the 21st century brings forth two very different stories. The first story is one of obstacles to access housing. It has become increasingly hard to buy or rent a home. Housing prices have risen considerably in urban areas while people’s income changed very little. The second story is one of accumulation of properties. Housing has been, and continues to be, a form of saving, investment and speculation for small and large property-owners. Falling housing prices permitted resourceful households to accumulate more properties during the financial crisis. These two stories lead to the following question: How did changes in the ownership of properties impact inequality in Spain? In this Perspectives Demogràfiques, we analyse how developments in the real estate market are connected to wealth inequality in Spain. The results point at a polarization of access to property; both the number of households without property and the number of households with multiple properties increased over time. Because real estate is the most important form of household’s wealth, the accumulation of properties has become a non-negligible part of wealth inequality between households in Spain.

The impact of external factors on housing prices in Lithuania

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Alina Stundziene ◽  
Vaida Pilinkienė ◽  
Andrius Grybauskas
Keyword(s):  
Real Estate ◽  
Housing Prices ◽  
Housing Price ◽  
Real Estate Market ◽  
External Factors ◽  
Content Type ◽  
The Real ◽  
The Real Estate ◽  
The Real Estate Market ◽  
The Impact

Purpose This paper aims to identify the external factors that have the greatest impact on housing prices in Lithuania. Design/methodology/approach The econometric analysis includes stationarity test, Granger causality test, correlation analysis, linear and non-linear regression modes, threshold regression and autoregressive distributed lag models. The analysis is performed based on 137 external factors that can be grouped into macroeconomic, business, financial, real estate market, labour market indicators and expectations. Findings The research reveals that housing price largely depends on macroeconomic indicators such as gross domestic product growth and consumer spending. Cash and deposits of households are the most important indicators from the group of financial indicators. The impact of financial, business and labour market indicators on housing price varies depending on the stage of the economic cycle. Practical implications Real estate market experts and policymakers can monitor the changes in external factors that have been identified as key indicators of housing prices. Based on that, they can prepare for the changes in the real estate market better and take the necessary decisions in a timely manner, if necessary. Originality/value This study considerably adds to the existing literature by providing a better understanding of external factors that affect the housing price in Lithuania and let predict the changes in the real estate market. It is beneficial for policymakers as it lets them choose reasonable decisions aiming to stabilize the real estate market.

scholarly journals Is the Real Estate Market of New Housing Stock Influenced by Urban Vibrancy?

Complexity ◽  
2020 ◽  
Vol 2020 ◽  
pp. 1-22
Author(s):  
Alice Barreca ◽  
Rocco Curto ◽  
Diana Rolando
Keyword(s):  
Real Estate ◽  
Urban Areas ◽  
Housing Stock ◽  
Housing Prices ◽  
Real Estate Market ◽  
Sustainable Urban Development ◽  
The Real ◽  
The Real Estate ◽  
The Real Estate Market ◽  
Spatial Autoregressive

The attractiveness and vibrancy of an urban area are very complex aspects that both Public Administrations and real estate developers and construction companies have to carefully consider in order to correctly address their investments and sustainable urban development projects. The aim of this paper is to study urban vibrancy and its relationship with the neighbourhood services and the real estate market of new housing stock. Spatial analyses are performed to study the influence of the Neighbourhood Services Index (NeSI) and its Principal Components (PCs) on listing prices and the construction activity. Spatial autoregressive (SAR) models are applied both with lattice data and data points, in order to manage spatial dependence and to identify the variables that significantly influence housing prices and construction site density. Findings highlight that the NeSI significantly influences the real estate market of new housing stock and that above the analysed neighbourhood services and the retail activities have a great, significant, and positive influence on the density of housing construction sites. The results of this study represent a real support for both public and private bodies to identify the most and least attractive and vibrant urban areas and to deal with important aspects of urban complexity.

scholarly journals Modelagem dos Preços de Imóveis Residenciais Paulistanos

2011 ◽  
Vol 9 (2) ◽  
pp. 167
Author(s):  
Denisard Cneio de Oliveira Alves ◽  
Joe Akira Yoshino ◽  
Paula Carvalho Pereda ◽  
Carla Jucá Amrein
Keyword(s):  
Real Estate ◽  
Interest Rates ◽  
House Price ◽  
Housing Price ◽  
Real Estate Market ◽  
Hedonic Model ◽  
The Real ◽  
The Real Estate ◽  
New Findings ◽  
The Real Estate Market

Hedonic modeling has become a benchmark for pricing real assets with several intrinsic characteristics. This work tests also others dimensions for asset pricing: the quality of life in the housing neighborhood and macroeconomic variables. The data is about the real estate market in São Paulo city from January 2001 to March 2008. The main results were: the longer the maturity of mortgage financing, the larger the housing price, but decreasing interest rate spread stimulate the real estate market, and the interactions between the dummy for the boom period and either housing characteristics or bank interest rates spread show that the hedonic model loses its relative importance for pricing, while market risk variables become much more relevant. Thus, these new findings suggests that for modeling a house price index it is not sufficient to consider only average prices or a hedonic approach, but both the market and credit risks as well.

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