The Influence of Aircraft Noise on the Prices of Residential Properties on the Example of Poznań

2021 ◽  
Vol 23 ◽  
pp. 263-278
Author(s):  
Cyprian Chwiałkowski ◽  
Adam Zydroń
Keyword(s):  
Significant Influence ◽  
Aircraft Noise ◽  
Fourth Quarter ◽  
Hedonic Regression ◽  
Property Market ◽  
Transaction Prices ◽  
Residential Properties

The article analyses the influence of aircraft noise on the transaction prices of residential premises within the Poznań property market. The paper analyses the set of properties, subject to the transaction from the first to the fourth quarter of 2020. In total, 1550 properties were examined. The study defined basic attributes of all premises, exhibiting the most significant influence on their price. The research conducted using the hedonic regression allowed for the identification of crucial evidence that aircraft noise negatively affects the property transaction prices.

scholarly journals Residential Property Behavior Forecasting in the Metropolitan City of Milan: Socio-Economic Characteristics as Drivers of Residential Market Value Trends

2021 ◽  
Vol 13 (7) ◽  
pp. 3612
Author(s):  
Marzia Morena ◽  
Genny Cia ◽  
Liala Baiardi ◽  
Juan Sebastián Rodríguez Rojas
Keyword(s):  
Hedonic Model ◽  
Hedonic Price ◽  
Analysis Model ◽  
Property Market ◽  
Property Development ◽  
Price Performance ◽  
Real Estate Investments ◽  
Residential Properties ◽  
Asset Class ◽  
Residential Market

The phenomenon of urbanization of cities has been the subject of numerous studies and evaluation protocols proposing to analyze the degree of economic and social sustainability of development projects. Through careful research and synthesis of the theoretical framework regarding residential properties’ performance measurement and forecasting, this paper goes deeper into the proposition of property development as an asset class that represents the biggest share of the Italian property market and yet is avoided by the big portfolios. The analysis model was applied to the city of Milan and its Metropolitan Area. The method is based on the development of correlation indices to evaluate different behaviors, through time and a Geographic Information System (GIS) based on the Hedonic Price Method (HPM). Results from a hedonic model estimated for several recent years suggest that, depending on the particular view, the relation between the rent/price performance and the different external and intrinsic variables can represent a useful parameter for evaluating the feasibility of different real estate investments.

Analysing the Residential Market in Trójmiasto Using Self-Organizing Map

2021 ◽  
Author(s):  
Olgun Aydin ◽  
Krystian Zielinski
Keyword(s):  
Multidimensional Data ◽  
Residential Property ◽  
Self Organizing Map ◽  
Property Market ◽  
Residential Properties ◽  
Price Trends ◽  
Residential Market ◽  
Key Aspects ◽  
The Impact ◽  
Self Organizing

Although the residential property market has strong connections with various sectors, such as construction, logistics, and investment, it works through different dynamics than do other markets; thus, it can be analysed from various perspectives. Researchers and investors are mostly interested in price trends, the impact of external factors on residential property prices, and price prediction. When analysing price trends, it is beneficial to consider multidimensional data that contain attributes of residential properties, such as number of rooms, number of bathrooms, floor number, total floors, and size, as well as proximity to public transport, shops, and banks. Knowing a neighbourhood's key aspects and properties could help investors, real estate development companies, and people looking to buy or rent properties to investigate similar neighbourhoods that may have unusual price trends. In this study, the self-organizing map method was applied to residential property listings in the Trójmiasto area of Poland, where the residential market has recently been quite active. The study aims to group together neighbourhoods and subregions to find similarities between them in terms of price trends and stock. Moreover, this study presents relationships between attributes of residential properties.

scholarly journals Methodology for mapping the average transaction prices of residential premises using GIS

2016 ◽  
Vol 48 (4) ◽  
pp. 161-171 ◽  
Author(s):  
Martyna Sosnowska ◽  
Izabela Karsznia
Keyword(s):  
Real Estate ◽  
Open Data ◽  
Transaction Prices ◽  
Residential Properties ◽  
Choropleth Maps ◽  
Presentation Methods ◽  
Real Estate Prices ◽  
Gis Software ◽  
The Impact ◽  
Selection Of

Abstract Geographic information systems (GIS) and their tools support the process of real estate trading. Of key importance is the ability to visualise information about real estate in the form of maps of average real estate transaction prices. The following study presents a methodology for mapping average real estate transaction prices using GIS. The map development process comprised three main stages. In the first stage, the input data was processed and statistically analysed. Official data came from the Register of Real Estate Prices and Values, and open data from the National Register of Boundaries. The second stage involved the visualization of the data in the form of maps of average apartment prices using the cartographic methods of choropleth maps and diagrams. The commercial tool ArcMap 10.3 and the free Quantum GIS software were used in the design of the maps of average real estate transaction prices, to check the options for using these types of programs. As a result, eight maps were designed presenting the average transaction prices for residential properties in the Warsaw district of Ursynów in 2015. The final stage was the analysis of the designed maps. The influence of the selection of the reference units on the visualization content, and the impact of combining cartographic presentation methods on the complexity of the presentation of real estate information, were also analysed.

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.

scholarly journals The Effects of Defective Spatial Structure on the Agricultural Property Market

2015 ◽  
Vol 15 (1) ◽  
pp. 174-192
Author(s):  
Anna Bielska ◽  
Tomasz Budzyński ◽  
Wioleta Krupowicz
Keyword(s):  
Spatial Structure ◽  
Rural Areas ◽  
Agricultural Land ◽  
Width Ratio ◽  
The European Union ◽  
Property Market ◽  
Transaction Prices ◽  
Study Results ◽  
Property Price ◽  
Agricultural Areas

Abstract Rural areas in Poland are distinguished by one of the worst spatial structures of individual land properties in the European Union. The least favourable structure occurs in the southern and south-eastern part of the country, where it results in farms losing 20-30% of their agricultural revenue. The bad spatial organisation of land is also reflected in transaction prices obtained for agricultural land. Considering criteria such as: land management, parcel area, width, and elongation (length to width ratio), and soil bonitation value, this paper determines the effect of each of the criteria separately on the development of transaction prices of agricultural land in the years 2009-2014 in selected villages in the southern part of the Cegłów (Mińsk district, Mazowieckie province), distinguished by the unfavourable spatial structure of agricultural land. Meeting this objective involved the application of the analytical capacity of the Geographic Information Systems (GIS), cadastral data base, soil-agricultural map vector, study of the conditions and directions of the spatial management of the Cegłów area, and the property price and value register. The obtained study results suggest that in areas with particularly defective spatial structure, land with parameters permitting its efficient use, i.e. with proper width and elongation is particularly valuable. Another parameter determining the level of obtained prices is the bonitation value, although it is of less importance for the analysed area than for agricultural areas with proper management conditions.

scholarly journals The Effect of Expected Losses on the Hong Kong Property Market

2021 ◽  
Author(s):  
Ling Li ◽  
Wayne Xinwei Wan
Keyword(s):  
Hong Kong ◽  
Residential Property ◽  
Property Market ◽  
Commercial Property ◽  
Transaction Prices ◽  
Commercial Markets ◽  
Commercial Market ◽  
Market Transaction ◽  
Market Factors ◽  
Loss Effect

AbstractExpected losses anchored to purchase prices can affect actual transactions in different property sectors. Utilizing the data of over a million commercial and residential property transactions in Hong Kong from 1991 to 2015, we find that sellers facing nominal losses relative to their prior purchase prices attained higher selling prices than their counterparts. We suggest two market factors to account for the extent of the loss effect on the market transaction prices. First, the loss effect is only prominent when comparable transaction information is not readily accessible, such as in the less-transacted commercial property market. Second, our results suggest the relevance of the loss effect to the boom-bust property cycle in both the residential and commercial markets. The effect of expected losses on transaction prices is relatively weak in the bust period between 1998 and 2003 when the Hong Kong property market lost almost two-thirds of its value, and it enlarges with the market recovering. The loss effect is not attenuated at the aggregate market level but is associated with strong reductions in price declines in the bust period and in the commercial market. These results have implications for understanding the market adjustment of the loss effect in the property market and its association with the aggregate market dynamics in a boom-bust property cycle.

scholarly journals Investment returns of US commercial timberland: insights into index construction methods and results

2017 ◽  
Vol 47 (2) ◽  
pp. 226-233 ◽  
Author(s):  
Bin Mei
Keyword(s):  
Property Market ◽  
Index Construction ◽  
Market Values ◽  
Transaction Prices ◽  
Construction Methods ◽  
Asset Pricing Models ◽  
Ex Post ◽  
Investment Returns ◽  
Abnormal Performance ◽  
Appraisal Smoothing

This study compares different index construction methods of timberland investment returns and evaluates the resulting indices by various asset pricing models. In addition to various NCRIEF indices, I include a de-smoothed index that attempts to restore property market values, a transaction-based index that tracks ex post transaction prices, and a pure-play index that is based on unleveraged returns of public timber firms and only has exposures to the timber segment. The findings are that the appraisal-based timberland index has higher mean and lower volatility compared with the transaction-based timberland index, separate accounts outperform comingled funds in the private timberland market, the pure-play timberland index exhibits higher return and lower risk than the corresponding portfolio of public timber firms, and abnormal performance of timberland asset becomes less significant after controlling for the appraisal smoothing or by using real transaction data. These results can help timberland investors better benchmark their financial performance.

scholarly journals Does proximity to tourist site affect the rental value of residential properties? Empirical evidence from Nigeria

2020 ◽  
Vol 312 ◽  
pp. 04003
Author(s):  
Olalekan Oshodi ◽  
Oyewale Oyedeji ◽  
Clinton Aigbovboa
Keyword(s):  
Predictive Modelling ◽  
Vital Role ◽  
Property Market ◽  
Policy Makers ◽  
Productive Activities ◽  
Investment Opportunities ◽  
Residential Properties ◽  
The Impact ◽  
Rental Value ◽  
Modelling Approach

The property market plays a vital role in the economy of any nation. The industry provides jobs, investment opportunities and constructed space for productive activities, among others. Several authors have developed predictive models for the rental value of residential properties. However, little is known about the impact of tourist site on the rental value of residential properties. This study seeks to examine the effect of tourist sites on the rental value of residential properties using an artificial intelligence technique. The predictive modelling approach was utilised in this study. It was found that proximity to tourist site and security are the most important factors influencing rental prices of residential properties. In addition, the developed Neural Network (NN) model could adequately predict the rental value of residential properties (93.75% were correctly predicted). The results of this study demonstrate that the NN model is a useful tool for forecasting of the rental value of properties. The findings of this study provide valuable information for policy makers, professionals in the built environment and property investors.

scholarly journals HOUSE PRICE MOVEMENT FOR PRIMARY AND SECONDARY MARKETS: EVIDENCE FROM SELANGOR, MALAYSIA

2018 ◽  
Vol 16 (5) ◽  
Author(s):  
Haszlila Jalil ◽  
Norngainy Mohd Tawil ◽  
Md Nasir Daud ◽  
Aina Edayu Ahmad
Keyword(s):  
Market Price ◽  
House Price ◽  
Secondary Data ◽  
Secondary Market ◽  
Property Market ◽  
Price Movement ◽  
Secondary Markets ◽  
Study Approach ◽  
Market Report ◽  
Residential Properties

The aim of this study is to determine the trend of escalation for both primary and secondary housing units. This research applies the desk study approach which uses secondary data from statistical format, which is the property market report (PMR) from the year of 2004 to 2014. Data from the PMR was analysed by using descriptive statistics method which provides a general overview of the house price movement. The observation only focuses the house price movement from the (9) districts in Selangor state. Results show that even though the volume of transactions decreases, the prices of residential properties are steadily increasing which also indirectly escalates the secondary market price.

Determinants of financial performance of real estate brokerage industry in Iran

2017 ◽  
Vol 10 (4) ◽  
pp. 489-502 ◽  
Author(s):  
Hassan F. Gholipour ◽  
Muhammad Najib Razali
Keyword(s):  
Real Estate ◽  
Financial Performance ◽  
Fixed Effects ◽  
Middle Eastern ◽  
Ordinary Least Squares ◽  
Property Market ◽  
Content Type ◽  
Explanatory Variables ◽  
Real Estate Brokerage ◽  
Residential Properties

Purpose The aim of this study is to investigate the factors influencing the financial performance of the real estate brokerage (REB) industry in Iran. Design/methodology/approach The authors use two surveys concerning REB firms from provinces of Iran which were collected by the Statistical Centre of Iran in 2003 and 2011. The authors apply the pooled ordinary least squares and panel fixed-effects regressions to estimate the relationships between the explanatory variables and performance of REB industry. Findings The results indicate that in provinces where REB firms invest more in residential properties, vehicles, computers and business software, REB firms are more active in residential and non-residential property sales, and rent transactions have higher levels of financial performance. In addition, the results show that in provinces where REB firms invest more in non-residential properties and office furniture, REB industry has lower levels of financial performance. The authors also find that Iranian REB industry has significantly benefited from international economic and financial sanctions. Practical implications In terms of managerial implications, the authors findings potentially serve as guidance for Iranian REB firms to allocate resources and adjust their strategy to enhance their financial performance. Originality value Previous studies have typically been conducted in countries where REB firms mainly operate as intermediaries in transactions between property buyers and sellers, whereas in Iran, REB firms not only provide services to their clients but also are very active speculators in the property market. Furthermore, while there have been many studies that have investigated the various determinants of performance and efficiency of REB industry in developed economies, there is scant literature around this topic for Middle Eastern countries.

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