Real Estate Management and Valuation最新文献_第3页

Forecasting the Volatility of Real Residential Property Prices in Malaysia: A Comparison of Garch Models 马来西亚房地产价格波动预测：Garch模型的比较

IF 0.8

Real Estate Management and Valuation Pub Date : 2023-09-01 DOI: 10.2478/remav-2023-0018

Ahmad Abubakar Suleiman, M. Othman, Hanita Daud, Mohd Lazim Abdullah, E. A. Kadir, Ibrahim Lawal Kane, Abdullah Husin

{"title":"Forecasting the Volatility of Real Residential Property Prices in Malaysia: A Comparison of Garch Models","authors":"Ahmad Abubakar Suleiman, M. Othman, Hanita Daud, Mohd Lazim Abdullah, E. A. Kadir, Ibrahim Lawal Kane, Abdullah Husin","doi":"10.2478/remav-2023-0018","DOIUrl":"https://doi.org/10.2478/remav-2023-0018","url":null,"abstract":"Abstract The presence of volatility in residential property market prices helps investors generate substantial profit while also causing fear among investors since high volatility implies a high return with a high risk. In a financial time series, volatility refers to the degree to which the residential property market price increases or decreases during a particular period. The present study aims to forecast the volatility returns of real residential property prices (RRPP) in Malaysia using three different families of generalized autoregressive conditional heteroskedasticity (GARCH) models. The study compared the standard GARCH, EGARCH, and GJR-GARCH models to determine which model offers a better volatility forecasting ability. The results revealed that the GJR-GARCH (1,1) model is the most suitable to forecast the volatility of the Malaysian RRPP index based on the goodness-of-fit metric. Finally, the volatility forecast using the rolling window shows that the volatility of the quarterly index decreased in the third quarter (Q3) of 2021 and stabilized at the beginning of the first quarter (Q1) of 2023. Therefore, the best time to start investing in the purchase of real residential property in Malaysia would be the first quarter of 2023. The findings of this study can help Malaysian policymakers, developers, and investors understand the high and low volatility periods in the prices of residential properties to make better investment decisions.","PeriodicalId":37812,"journal":{"name":"Real Estate Management and Valuation","volume":"31 1","pages":"20 - 31"},"PeriodicalIF":0.8,"publicationDate":"2023-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48537626","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Real Estate Appraisalusing the Liquidation Costmethod – A Case Study 使用清算成本法的房地产评估-一个案例研究

IF 0.8

Real Estate Management and Valuation Pub Date : 2023-09-01 DOI: 10.2478/remav-2023-0023

M. Podwórna, Marek Sawicki

{"title":"Real Estate Appraisalusing the Liquidation Costmethod – A Case Study","authors":"M. Podwórna, Marek Sawicki","doi":"10.2478/remav-2023-0023","DOIUrl":"https://doi.org/10.2478/remav-2023-0023","url":null,"abstract":"Abstract A real estate appraiser, using the liquidation cost method of the mixed approach in order to determine the value of real estate, analyzes, e.g. the value of post-demolition materials and the costs of liquidating components. The paper presents the problem of determining the costs of demolition works, which are correlated with the adopted demolition technology, the method of managing waste from post-demolition materials, and the costs incurred to maintain the occupational health and safety of employees and bystanders. Important elements of determining the demolition costs include the type of demolition waste and the relevant classification subgroup, the used demolition technology, and also the method of managing waste materials. The publication presents a calculation example that concerns the cost analysis of the demolition of a building structure. The demolition was performed using the mechanical method. The presented analyses cover different variants of carrying out works, whereas optimization refers to the different types of equipment used, available employee resources, and the various ways of recycling/managing post-demolition materials (storing, resale or processing). The conducted analyzes allow a multi-faceted approach to the subject matter to be obtained, and also an optimal solution to be selected by the participants of the investment process.","PeriodicalId":37812,"journal":{"name":"Real Estate Management and Valuation","volume":"31 1","pages":"75 - 82"},"PeriodicalIF":0.8,"publicationDate":"2023-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41412971","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Housing and the Pandemic: How Has Covid-19 Influenced Residents’ Needs and Aspirations? 住房与大流行病：新冠肺炎如何影响居民的需求和愿望？

IF 0.8

Real Estate Management and Valuation Pub Date : 2023-06-01 DOI: 10.2478/remav-2023-0010

E. Stachura, Magdalena Jagiełło-Kowalczyk

{"title":"Housing and the Pandemic: How Has Covid-19 Influenced Residents’ Needs and Aspirations?","authors":"E. Stachura, Magdalena Jagiełło-Kowalczyk","doi":"10.2478/remav-2023-0010","DOIUrl":"https://doi.org/10.2478/remav-2023-0010","url":null,"abstract":"Abstract Satisfactory housing conditions define, in many aspects, people’s comfort and a high standard of living. The psychological and social characteristics of residents strongly determine housing needs and preferences. They also depend on economic, spatial, technical, and cultural factors. The Covid-19 pandemic, which humankind had been experiencing for two years, influenced all spheres of human life, especially inhabitation. The functional program of homes has changed, as well as public spaces, transportation and social ties. While the future is uncertain, the many changes provoked by the pandemic might become irreversible. This paper aims to present how the phenomena mentioned above have influenced the housing environment and residential preferences and trends that may follow. A survey conducted among Cracow residents in Autumn 2021 revealed a significant shift in lifestyles that corresponded with the change in residential needs, preferences and attitudes towards the housing environment. Working from home has induced redefining the use of particular rooms/spaces. For safety, families attempted to reorganize the entrance zone. Outdoor public spaces have become more appreciated following the trend of healthier everyday life. Over the long term, the pandemic experience may significantly influence the residential market.","PeriodicalId":37812,"journal":{"name":"Real Estate Management and Valuation","volume":"31 1","pages":"18 - 28"},"PeriodicalIF":0.8,"publicationDate":"2023-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47884186","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Analysis of Marketing Tools Used by Real Estate Development Companies Using Secret Client Research – a Case Study From Krakow 利用秘密客户研究分析房地产开发公司使用的营销工具——以克拉科夫为例

IF 0.8

Real Estate Management and Valuation Pub Date : 2023-06-01 DOI: 10.2478/remav-2023-0011

Klaudia Tomasik, B. Marona

{"title":"Analysis of Marketing Tools Used by Real Estate Development Companies Using Secret Client Research – a Case Study From Krakow","authors":"Klaudia Tomasik, B. Marona","doi":"10.2478/remav-2023-0011","DOIUrl":"https://doi.org/10.2478/remav-2023-0011","url":null,"abstract":"Abstract The aim of the paper is to find out what marketing tools are used by development companies operating in Poland to attract customers and whether the impact of the Fourth Industrial Revolution on marketing can be observed. The secondary aim of the paper is to determine whether developers building investments in the area of the restricted use area (O.O.U.) use more marketing tools to convince potential customers to buy. For this purpose, a secret client survey was used and the research sample consists of four development companies and four of their investments in Kraków. The research conducted led to the disclosure of marketing tools used by developers. The survey shows that some elements of home branding, storytelling and banner ads, social media ads, ads on websites and portals and information brochures are being used. Through the use of virtual walks, housing visualization and the use of social media in advertising, the impact of the Fourth Industrial Revolution on marketing in the industry can be seen. The analysis shows that companies creating developments in the restricted use area are not using more tricks to attract customers. All developers selected for the study use a similar number of marketing tools.","PeriodicalId":37812,"journal":{"name":"Real Estate Management and Valuation","volume":"31 1","pages":"29 - 38"},"PeriodicalIF":0.8,"publicationDate":"2023-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42743971","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Real Estate Market Perceptions, Housing and Investment Plans of Students and Graduates 房地产市场认知、学生和毕业生的住房和投资计划

IF 0.8

Real Estate Management and Valuation Pub Date : 2023-06-01 DOI: 10.2478/remav-2023-0013

Patrycja Konieczna, Natalia Konar

{"title":"Real Estate Market Perceptions, Housing and Investment Plans of Students and Graduates","authors":"Patrycja Konieczna, Natalia Konar","doi":"10.2478/remav-2023-0013","DOIUrl":"https://doi.org/10.2478/remav-2023-0013","url":null,"abstract":"Abstract The purpose of this study is to identify the knowledge of the real estate market by students and graduates and to find out their housing and investment plans. A literature study relating to the real estate market was conducted. The diagnostic survey method was used to determine the housing and investment plans of students and graduates, their expectations regarding changes in housing policy, and their level of knowledge of basic concepts and relationships related to the real estate market. The survey was conducted in March 2022 among students and graduates of Wroclaw University of Economics and Business. The great majority of the respondents consider the housing policy in Poland to need changes, mainly in the direction of greater support for young people, lowering the costs of mortgage loans and reducing the formalities associated with the construction of real estate. Moreover, research indicates that less than half of young people are able to fully support themselves during or shortly after graduation. Only one in four respondents had a disposable income of more than PLN 2,000. Many students and graduates plan to purchase real estate in the future, and nearly 60% of respondents intend to finance the purchase with a mortgage.","PeriodicalId":37812,"journal":{"name":"Real Estate Management and Valuation","volume":"31 1","pages":"52 - 65"},"PeriodicalIF":0.8,"publicationDate":"2023-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49539559","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Duration of the Rental Offer for Residential Property 住宅物业的租赁期限

IF 0.8

Real Estate Management and Valuation Pub Date : 2023-06-01 DOI: 10.2478/remav-2023-0015

Anna Gdakowicz, Ewa Putek-Szeląg, Marcin Bas

{"title":"Duration of the Rental Offer for Residential Property","authors":"Anna Gdakowicz, Ewa Putek-Szeląg, Marcin Bas","doi":"10.2478/remav-2023-0015","DOIUrl":"https://doi.org/10.2478/remav-2023-0015","url":null,"abstract":"Abstract The rental market in Poland is underdeveloped, not subject to any statutory registers, and based primarily on small, private owners. The article estimates the duration of residential rental properties that have been reported to the listing exchange system using duration methods. Duration methods also allow the analysis to include those properties that were not rented at the time the analysis was completed, but their owners continued to report their willingness to rent. The article presents the results of the analysis of how long it takes to rent an apartment over the entire analysis period and in each year separately. The presented study is the first to examine the duration of residential real estate offerings for rent in the Polish market. Considering the entire analysis period, 25% of the reported apartments were rented in 7.3 weeks. The fastest 25% of rental offers were successful (rented) in 2019 – 4.86 weeks. The longest apartment owners waited for a tenant was in 2020 – more than 8 weeks, which was undoubtedly influenced by the lockdown of the entire country, and the change in the organization of work and study (remote work and studies, which did not require being in the city).","PeriodicalId":37812,"journal":{"name":"Real Estate Management and Valuation","volume":"31 1","pages":"82 - 91"},"PeriodicalIF":0.8,"publicationDate":"2023-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44600663","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 1

Assessment of Damage Caused by the Reduction of Daylight Lighting Duration of Residential Constructions in the Conditions of the Republicof Moldova 摩尔多瓦共和国条件下住宅建筑日光照明时间缩短造成的损失评估

IF 0.8

Real Estate Management and Valuation Pub Date : 2023-06-01 DOI: 10.2478/remav-2023-0012

Svetlana Albu, Valeriu Ivanov, Ion Albu

{"title":"Assessment of Damage Caused by the Reduction of Daylight Lighting Duration of Residential Constructions in the Conditions of the Republicof Moldova","authors":"Svetlana Albu, Valeriu Ivanov, Ion Albu","doi":"10.2478/remav-2023-0012","DOIUrl":"https://doi.org/10.2478/remav-2023-0012","url":null,"abstract":"Abstract This paper examines the material damage caused to the owner of the property as a result of the violation of the design rules. This phenomenon was observed by the authors participating in the period 2018-2021 in the assessment of over 500 construction projects of residential blocks on the territory of the Republic of Moldova. In about 50% was found a violation of lighting regulations. Through this study, we aimed to investigate the ways to assess the extent of the damage caused by the reduction of the level of daylight lighting in residential buildings in the specific conditions of the real estate market in the Republic of Moldova. This paper aims to: Identify the legislative and normative framework that regulates the process of ascertaining the damage caused to the owner of the residential real estate following the reduction of the level of sunshine and natural lighting; Determine the consequences of reducing the level of sunshine and natural lighting for residential buildings; Propose methods for estimating the material damage caused to the owner of the damaged real estate under the conditions of the Republic of Moldova.","PeriodicalId":37812,"journal":{"name":"Real Estate Management and Valuation","volume":"31 1","pages":"39 - 51"},"PeriodicalIF":0.8,"publicationDate":"2023-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43845471","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

The Impact of Investor Sentiment on Housing Prices and the Property Stock Index Volatility in South Africa 投资者情绪对南非房价和房地产股票指数波动的影响

IF 0.8

Real Estate Management and Valuation Pub Date : 2023-06-01 DOI: 10.2478/remav-2023-0009

P. Muzindutsi, R. Apau, Lorraine Muguto, Hilary Tinotenda Muguto

{"title":"The Impact of Investor Sentiment on Housing Prices and the Property Stock Index Volatility in South Africa","authors":"P. Muzindutsi, R. Apau, Lorraine Muguto, Hilary Tinotenda Muguto","doi":"10.2478/remav-2023-0009","DOIUrl":"https://doi.org/10.2478/remav-2023-0009","url":null,"abstract":"Abstract While prior studies have examined the predictive effect of macroeconomic and country risk components on property stock index dynamics, limited explanations exist in the literature regarding the time-varying effect of investor sentiment on housing prices. Accordingly, this study assesses the impact of investor sentiment on housing properties’ returns and the effect of investor sentiment on the conditional volatility of housing price indices under different market conditions, using GARCH, GJR-GARCH, E-GARCH and Markov-switching VAR models. We found investor sentiment to significantly impact the risk premium of the property returns, where property returns increased with positive changes in investor sentiment, and conditional volatility of property returns decreased with the same changes in investor sentiment. Investor sentiment exerts positive predictive influences on the prices of small and medium houses, in both bullish and bearish market conditions but does not affect the large housing market segment. This makes the implementation of risk-related diversification across small and medium real estate portfolios more effective than large real estate portfolios. Our findings show that investor sentiment is a plausible driver of mass investor redemption actions under conditions of uncertainty.","PeriodicalId":37812,"journal":{"name":"Real Estate Management and Valuation","volume":"31 1","pages":"1 - 17"},"PeriodicalIF":0.8,"publicationDate":"2023-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49075247","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

The Impact of Factors on Residential Land Prices: A Case Study in Tu Son City, Vietnam 住宅用地价格的影响因素:以越南土顺市为例

IF 0.8

Real Estate Management and Valuation Pub Date : 2023-06-01 DOI: 10.2478/remav-2023-0014

Pham Phuong Nam, N. T. Huế, P. T. T. Huyen

引用次数: 0

Influence of Energy Self-Sufficient Housing Estates on Sustainable Development in Poland 能源自给自足住宅小区对波兰可持续发展的影响

IF 0.8

Real Estate Management and Valuation Pub Date : 2023-06-01 DOI: 10.2478/remav-2023-0016

Dariusz Trojanowski, Łukasz Kozak

引用次数: 0