Real Estate Management and Valuation最新文献

Impact of the Apartment’s Window Exposure to World Directions on Transaction Price 公寓窗口对世界走向的影响对交易价格的影响

Real Estate Management and Valuation Pub Date : 2024-07-17 DOI: 10.2478/remav-2024-0034

Marcin Bas

{"title":"Impact of the Apartment’s Window Exposure to World Directions on Transaction Price","authors":"Marcin Bas","doi":"10.2478/remav-2024-0034","DOIUrl":"https://doi.org/10.2478/remav-2024-0034","url":null,"abstract":"\u0000 The purpose of the study is to econometrically estimate the effect of the direction of window exposure on the unit price of housing. The research hypothesis according to which the exposure of windows to the east increases the unit price of apartments is verified, and is based on observations of the market for units in buildings with exposure to two sides of the world (east and west). Research into the various characteristics that affect real estate prices is being conducted around the world. The main focus is on the impact of features which we are certain about, i.e. date, area, number of rooms, etc., i.e. non-contentious and reasonably easy to identify as to the condition of the feature. The results of the study are to capture certain regularities that will give a glimpse of how the exposure of the apartment’s windows to a given direction of the world affected prices. Through the implementation of the survey, it can be determined whether a particular side of the world is better perceived by buyers. The study was conducted on data 2015-2023 in one of Poland’s largest cities - Szczecin, where the exposure of the windows of the apartments was to the east or west.","PeriodicalId":510834,"journal":{"name":"Real Estate Management and Valuation","volume":" 6","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-07-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141828497","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 Effect of Anchoring Bias on the Estimation of Asking and Transaction Prices in the Housing Market 锚定偏差对估算住房市场要价和成交价的影响

Real Estate Management and Valuation Pub Date : 2024-05-22 DOI: 10.2478/remav-2024-0031

Joanna Węgrzyn, Julita Kuta

引用次数: 0

Management and Valuation in Real Estate Cyclea Decade of Experience 房地产周期中的管理和估值a 十年经验

Real Estate Management and Valuation Pub Date : 2024-05-22 DOI: 10.2478/remav-2024-0023

Radoslaw Wisniewski, Dawid Wiśniewski

引用次数: 0

Capitalization Rate and Real Estate Risk Factors: An Analysis of the Relationships for the Residential Market in the City of Rome (Italy) 资本化率与房地产风险因素：罗马市（意大利）住宅市场的关系分析

Real Estate Management and Valuation Pub Date : 2024-05-22 DOI: 10.2478/remav-2024-0028

B. Manganelli, D. Anelli, F. Tajani, P. Morano

{"title":"Capitalization Rate and Real Estate Risk Factors: An Analysis of the Relationships for the Residential Market in the City of Rome (Italy)","authors":"B. Manganelli, D. Anelli, F. Tajani, P. Morano","doi":"10.2478/remav-2024-0028","DOIUrl":"https://doi.org/10.2478/remav-2024-0028","url":null,"abstract":"\u0000 The assessment of income-producing properties - considered as the bulk of the existing assets - has rapidly increased. An efficient assessment of the market value of this kind of properties requires an adequate involvement of the main risk factors of the local real estate market for the determination of the capitalization rate for the income approach application. The aim of the work is to identify the most significant local real estate risk factors related to the market, the tenant and the context on the residential capitalization rate. The development of a regressive methodological approach applied to the residential sector of the city of Rome (Italy) is proposed. The obtained results show the susceptibility of the analyzed capitalization rate to the variation of the local real estate risk factors, in particular the per capita income and the variation of the rental values, by also considering the influences of the exogenous shocks and the expectation of the investors. The practical implications of the work consist in the possibility for evaluators to assess the likely changes in the capitalization rate in different residential contexts if variations occur in the most influential local risk factors identified by the proposed model.","PeriodicalId":510834,"journal":{"name":"Real Estate Management and Valuation","volume":"61 23","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-05-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141113119","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

Econometric Modelling of Average Housing Prices in Local Markets and the Price Anchoring Effect 当地市场平均房价的计量经济学模型和价格锚定效应

Real Estate Management and Valuation Pub Date : 2024-05-22 DOI: 10.2478/remav-2024-0029

M. Doszyń, S. Kokot

{"title":"Econometric Modelling of Average Housing Prices in Local Markets and the Price Anchoring Effect","authors":"M. Doszyń, S. Kokot","doi":"10.2478/remav-2024-0029","DOIUrl":"https://doi.org/10.2478/remav-2024-0029","url":null,"abstract":"\u0000 This paper employs the econometric models of relationships over time to evaluate the change in the unit prices of apartments on the local secondary markets in Warsaw and Szczecin, depending on various socioeconomic factors. Indicators reflecting the influence of socioeconomic aspects in these cities and the lagged values of housing prices, acting as so-called anchors in this model, were used as the independent variables.\u0000 The results obtained from this analysis indicate that it is the lagged prices of housing that have the strongest influence on the formation of price levels in the market. The study confirms the presence of the so-called price anchoring effect, which can be understood as the tendency of market participants to accept prices at levels that can be justified not only by socio-economic factors, but also by the price levels established in their minds.\u0000 The main purpose of the research presented here is to show that there is no close relationship between quoted housing prices and their objective factors. The quality of models reflecting these relationships clearly improves when lagged housing prices are introduced as the explanatory variables, which may confirm the price anchoring effect derived from behavioral economics, meaning that the heuristics of anchoring and adjustment can be applied to the analysis of the behavior of a collective of individuals - many market participants.","PeriodicalId":510834,"journal":{"name":"Real Estate Management and Valuation","volume":"1 4","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-05-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141110065","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

Application of Hedonic Model to Determine Residential Land Valuation in Suburban Areas: The Case of Hue City, Vietnam 应用河东模型确定郊区住宅用地价值：越南顺化市案例

Real Estate Management and Valuation Pub Date : 2024-04-19 DOI: 10.2478/remav-2024-0016

Thanh Huu Ngoc Le, Ngu Huu Nguyen

引用次数: 0

Inequalities in Transition to Homeownership in Household Life Cycle 家庭生命周期中向拥有住房过渡的不平等现象

Real Estate Management and Valuation Pub Date : 2024-04-19 DOI: 10.2478/remav-2024-0017

A. Matel

引用次数: 0

Transforming Megacities: Value and Impacts of Mixed-Use Developments with Multi-Criteria Decision-Making 改造特大城市：采用多重标准决策的混合用途开发项目的价值和影响

Real Estate Management and Valuation Pub Date : 2024-03-23 DOI: 10.2478/remav-2024-0020

Alfonso Valero

{"title":"Transforming Megacities: Value and Impacts of Mixed-Use Developments with Multi-Criteria Decision-Making","authors":"Alfonso Valero","doi":"10.2478/remav-2024-0020","DOIUrl":"https://doi.org/10.2478/remav-2024-0020","url":null,"abstract":"\u0000 This research article explores the valuation of mixed-use developments and their impact on urban planning and city regeneration. The study introduces a Multi-Criteria Decision Making (MCDM) methodology to analyze complex buildings developed in Shanghai from 2009 to 2019. Two MCDM appraisals are offered in different developments using three groups of key indicators that served as benchmarks for other Chinese clusters and global megacities. The article addresses two primary research questions: how mixed-use assets can be assessed using MCDM, and what the key performance indicators and factors contributing to the success of mixed-use developments are. The findings highlight the importance of connectivity, previous real estate experience, ESG strategies, international branding, architectural design, financial metrics, and adaptability of the real estate industry in evaluating mixed-use assets. The study provides insight to stakeholders involved in real estate development, including urban planners, developers, and investors, enabling them to make informed decisions and improve sustainable practices. The research also highlights the importance of considering ESG principles, community benefits, and long-term strategies when assessing mixed-use developments to drive social change and contribute to urban regeneration.","PeriodicalId":510834,"journal":{"name":"Real Estate Management and Valuation","volume":" 9","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-03-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140210156","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

Exploring Public Interest in Limited-Use Areas and Compensation from Airports in Poland: A Google Trends Analysis 探索波兰有限使用区域的公众利益和机场补偿：谷歌趋势分析

Real Estate Management and Valuation Pub Date : 2024-03-23 DOI: 10.2478/remav-2024-0025

M. Bełej

引用次数: 0

Price Model for Transit-Oriented Developments in Kuala Lumpur, Malaysia 马来西亚吉隆坡公交导向型开发项目的价格模型

Real Estate Management and Valuation Pub Date : 2024-03-23 DOI: 10.2478/remav-2024-0022

Abdulazeez Adam Muhammad, B. Burhan, Edie Ezwan Mohd Safian

{"title":"Price Model for Transit-Oriented Developments in Kuala Lumpur, Malaysia","authors":"Abdulazeez Adam Muhammad, B. Burhan, Edie Ezwan Mohd Safian","doi":"10.2478/remav-2024-0022","DOIUrl":"https://doi.org/10.2478/remav-2024-0022","url":null,"abstract":"\u0000 The idea of Transit Oriented Development (TOD) was to foster urban development around railway networks and has been strategically built and applied since the late 19th and early 20th centuries. Previous studies reported positive, negative, or irrelevant impact of TOD on prices of surrounding real estate. The study aims to evaluate the impact of TOD on property prices in Kuala Lumpur. It utilizes secondary data obtained from the National Property Information Centre (NAPIC), Malaysia, after data cleaning, Nine Thousand Five Hundred and Forty-Nine (9549) Housing Transactions between the periods 2009 and 2018 were used. The research design was quantitative, and the Hedonic Price Model (log-log model) was used for data analysis. The model revealed a multiple correlation coefficient (R) of 0.891 and an adjusted R2 value of 0.794, indicating that 79.4% of the house price variation is explained by the model. The F value of 996.921, which is statistically significant, indicates that the predictors significantly combine to predict the price of TOD areas in Kuala Lumpur. The coefficient for LnTrainsta is 0.056, indicating that there was a positive relationship between residential house prices and TOD in Kuala Lumpur; this explains that house prices increase by 5.6% for every 100 meter closer to the rail transit station.","PeriodicalId":510834,"journal":{"name":"Real Estate Management and Valuation","volume":" 89","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-03-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140211116","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