scholarly journals International Real Estate Review

2010 ◽  
Vol 13 (1) ◽  
pp. 1-29
Author(s):  
Sam K. Hui ◽  
◽  
Alvin Cheung ◽  
Jimmy Pang ◽  
◽  
...  
Keyword(s):  
Hong Kong ◽  
Real Estate ◽  
Statistical Method ◽  
Bayesian Approach ◽  
Investment Decisions ◽  
Average Price ◽  
Residential Real Estate ◽  
Property Market ◽  
Residential Properties ◽  
Expert Assessments

We have developed a statistical method for the valuation of residential properties using a hierarchical Bayesian approach, which takes into consideration the unique structure of the Hong Kong property market. Our model is calibrated on a dataset that covers all residential real estate transactions in ten major Hong Kong residential complexes from February 2008 to February 2009. Although parsimonious, our model outperforms other valuation methods that are based on average price-per-square- feet or expert assessments. By providing our model-based valuations online without charge, we hope to improve transparency in the Hong Kong housing market, thus enabling consumers to make better investment decisions.

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.

International Real Estate Review

1998 ◽  
Vol 1 (1) ◽  
pp. 64-80
Author(s):  
Jia He ◽  
◽  
Ming Liu ◽  
Keyword(s):  
Hong Kong ◽  
Interest Rate ◽  
Real Estate ◽  
Seasonal Pattern ◽  
Property Market ◽  
Mortgage Loans ◽  
Adjustable Rate ◽  
The Interest Rate

A study on the prepayment behavior of Hong Kong mortgage loans is conducted. With all of the loans as adjustable-rate mortgages (ARMs), we find that 1) Prepayment speeds up and then slows down as the mortgage seasons; 2) Prepayment speeds up as the rate markup decreases; 3) Prepayment speeds up as the interest rate increases; 4) Prepayment speeds up when the profitability ratio of the banks ( the prime-HIBOR spread) is higher; 5) Prepayment speeds up as the price of the property market falls; 6) Prepayment speed is faster for loans with a lower loan-to-value ratio; 7) Prepayment exhibits a seasonal pattern: people tend to prepay in the summer.

scholarly journals Selected Aspects of the Residential Property Market in the Context of Creating a City Image (an Example from Rzeszów)

2020 ◽  
Vol 15 (1) ◽  
pp. 39-52
Author(s):  
Wiesława Kuźniar ◽  
Kazimierz Cyran
Keyword(s):  
Real Estate ◽  
Real Estate Market ◽  
City Image ◽  
Residential Real Estate ◽  
Property Market ◽  
Secondary Sources ◽  
Modern Development ◽  
High Dynamics ◽  
The Impact ◽  
The City

The main goal of the article is to evaluate the city’s real estate sub-product and identify the impact of perception of this urban sphere on the overall image of Rzeszów city among students. A thesis was accepted by the authors that the attractive image of Rzeszów determines the development of the residential real estate market, attracting especially young, educated people to the city. On the basis of a literature analysis of the subject, information obtained from secondary sources on the topic of Rzeszów, as well as surveys carried out in 2018 among students (n = 325), the thesis was confirmed. Thanks to the fast, modern development of the city and consistently implemented marketing activities, Rzeszów is perceived as an innovative city that is friendly to residents, investors and students. This contributes to the inflow of new, usually young, educated residents and investors, which in turn translates into high dynamics in the residential real estate market. Questionnaire surveys carried out among students have shown that they highly appreciate the current image of Rzeszów and, most after graduation, plan to stay in the city which in their opinion is an attractive place for everyday life.

scholarly journals DYNAMICS OF REGIONAL RESIDENTIAL REAL ESTATE MARKETS IN UKRAINE

2019 ◽  
Keyword(s):  
Real Estate ◽  
Price Index ◽  
Price Change ◽  
Supply And Demand ◽  
Real Estate Market ◽  
Average Price ◽  
Residential Real Estate ◽  
Real Estate Markets ◽  
Regional Centers ◽  
The Given

The dynamics of the general price index and price index on the primary and secondary residential real estate market (2015–2019) for one-room, two-room and three-room apartments is constructed in the article. The state and tendencies of development of the residential real estate market are considered, which in turn is characterized by: imperfection, problems of uneven development of certain parts of the market, closeness, unreliability and insufficient information about: value, subjects, objects, real supply and demand in the given economic sphere of our country in the conditions of disintegration processes. The regulatory framework by which the control and regulation of this type of market is carried out is not perfect enough. Different scientists, both domestic and foreign, have conducted research and determined a set of factors and methods used in the study of real estate, its assessment, analysis of trends in a certain period of time. A map of Ukraine, containing data on the average price per square meter of housing in all regional centers as of September 2019 is presented and comparative analysis with September 2018 is done; the cities with the largest or smallest price change has occurred are identified. The dynamics of the construction price index (2015–2019) was analyzed; it characterizes the changes and has a significant impact on the final value of real estate in a certain period of time during the construction process, the factors that influence the change of this index are identified. The dynamics of the average price per square meter of residential real estate in different regions of Ukraine is also presented, the factors that determine this dynamics for 2012–2019 were identified – in such cities as Kiev, Lviv, Donetsk, Kharkiv, Odessa, Sevastopol, Simferopol. Psychological factors that influence rise or fall in the value of residential property in selected major cities of Ukraine and in the cities near hostilities (Severodonetsk, Lisichansk) during and after the pre-war period were also identified.

scholarly journals A FUZZY KNOWLEDGE-BASED FRAMEWORK FOR RISK ASSESSMENT OF RESIDENTIAL REAL ESTATE INVESTMENTS

2017 ◽  
Vol 23 (1) ◽  
pp. 140-156 ◽  
Author(s):  
Mónica I. F. RIBEIRO ◽  
Fernando A. F. FERREIRA ◽  
Marjan S. JALALI ◽  
Ieva MEIDUTĖ-KAVALIAUSKIENĖ
Keyword(s):  
Risk Assessment ◽  
Risk Analysis ◽  
Real Estate ◽  
Cognitive Mapping ◽  
Reference Model ◽  
Fuzzy Model ◽  
Careful Analysis ◽  
Residential Real Estate ◽  
Real Estate Investments ◽  
Residential Properties

Risk analysis of residential real estate investments requires careful analysis of certain variables (or determinants). Because real estate is a key sector for economic and social development, this risk analysis is seen as critical in supporting decision processes relating to buying or selling residential properties, partly due to the pressures caused by the current economic environment. This study aims to develop a conceptual reference model for risk assessment of residential real estate using fuzzy cognitive mapping. This fuzzy model allows cause-and-effect relationships between determinants to be identified and better understood, which in turn allows for better informed investment decisions. The results show that the use of cognitive maps reduces the number of omitted criteria and favors learning with regard to how the criteria relate to each other, holding great potential and versatility in structuring complex decision problems. Practical implications, strengths and weaknesses of our proposal are discussed.

scholarly journals Applying The Line Of Resistance In Studies On Prices On The Housing Market In Szczecin

2014 ◽  
Vol 22 (1) ◽  
pp. 69-76
Author(s):  
Józef Hozer ◽  
Anna Gdakowicz
Keyword(s):  
Real Estate ◽  
Housing Market ◽  
Real Estate Market ◽  
Secondary Market ◽  
Average Price ◽  
Residential Real Estate ◽  
Secondary Markets ◽  
Transaction Prices ◽  
The Cost ◽  
Line Of Resistance

Abstract The average price of residential real estate offered on the housing market in Szczecin has been declining since 2008. Prices on both the primary and secondary markets were regularly adjusted, disregarding the fact that the cost of 1 square meter of newly built flats was rising. Therefore, the question of how low can prices fall for the market to remain profitable arises? The situation on the residential real estate market has been analyzed in four areas: on the primary and secondary market, as well as by offer and transaction prices. The study was conducted in Szczecin on a quarterly basis in the period of 2007-2012.

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