Real Estate Management and Valuation最新文献_第2页

Are Hedonic Models Really Quality-Adjusted? The Role of Apartment Quality in Hedonic Models of Housing Rental Market 对价模型真的是质量调整的吗？公寓质量在住房租赁市场对价模型中的作用

Real Estate Management and Valuation Pub Date : 2024-03-15 DOI: 10.2478/remav-2024-0014

Michał Hebdzyński

{"title":"Are Hedonic Models Really Quality-Adjusted? The Role of Apartment Quality in Hedonic Models of Housing Rental Market","authors":"Michał Hebdzyński","doi":"10.2478/remav-2024-0014","DOIUrl":"https://doi.org/10.2478/remav-2024-0014","url":null,"abstract":"\u0000 In micro-level data concerning the housing market, the apartment quality may be signaled via textual statements or the attached descriptions/photos. It may be done using hard information related to the easier-to-measure structural characteristics or soft information related to the apartment condition and design - soft quality. This paper checks whether the choice of the approach to handling the issue of soft quality of apartments influences the properties of hedonic models and the course of hedonic rent indices. The study shows that hedonic models that account for soft quality have better statistical properties than those without soft-quality-related variables. Among them, the models that include the information on quality extracted from descriptions of apartments prove to be the best. Still, considerable differences in the indicated course of hedonic rent indices have not been detected. However, the paper concludes that utilizing information on apartments’ soft quality may be crucial to understanding the market adjustment process to economic shocks. It has been proven that the price reaction of the Poznań (Poland) rental market to the COVID-19 pandemic and the Russian aggression on Ukraine has been diversified in the quality-related market segments.","PeriodicalId":510834,"journal":{"name":"Real Estate Management and Valuation","volume":"63 12","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-03-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140238351","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 Potential of Residential Property in Poland as an Inflation Hedge Investment 波兰住宅物业作为通胀对冲投资的潜力

Real Estate Management and Valuation Pub Date : 2024-03-01 DOI: 10.2478/remav-2024-0006

I. Dittmann

引用次数: 0

Endowment Effect, Information Asymmetry, and Real Estate Market Decisions: Willingness to Pay and Willingness to Accept Disparities 禀赋效应、信息不对称与房地产市场决策：支付意愿和接受差异的意愿

Real Estate Management and Valuation Pub Date : 2024-03-01 DOI: 10.2478/remav-2024-0004

Robert Mwanyepedza, Syden Mishi

{"title":"Endowment Effect, Information Asymmetry, and Real Estate Market Decisions: Willingness to Pay and Willingness to Accept Disparities","authors":"Robert Mwanyepedza, Syden Mishi","doi":"10.2478/remav-2024-0004","DOIUrl":"https://doi.org/10.2478/remav-2024-0004","url":null,"abstract":"\u0000 The endowment effect has gained dominance over the decades due to its ability to explain behavioral instincts portrayed by individuals when making decisions and its inconsistency with standard economic theories. It has been extensively applied in different fields of study, however its applicability to the housing market has been limited since its establishment. The study seeks to investigate whether the endowment effect exists in the housing market and whether the disclosure of information, increased affordability and agent evaluation significantly reduce the endowment effect. Using data obtained from a survey conducted between January and August 2022 in the Eastern Cape Province of South Africa, the study found that the disclosure of information eliminates the gap between buyers’ valuations and market values, while the gap between sellers’ valuations and market prices is reduced but not eliminated by information disclosure. The study has further concluded that increased affordability and agent evaluations significantly reduce the endowment effect in the housing market. Therefore, the study recommends that private and public entities should establish laws and regulations which promote the disclosure of information to reduce the gap between the willingness to pay (WTP) and the willingness to accept (WTA) that exists in the market.","PeriodicalId":510834,"journal":{"name":"Real Estate Management and Valuation","volume":"165 ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140272441","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 Size of the Rental Housing Segment in Poland and its Main Determinants 波兰租赁住房的规模及其主要决定因素

Real Estate Management and Valuation Pub Date : 2024-03-01 DOI: 10.2478/remav-2024-0005

Arkadiusz J. Derkacz, Viktorija Cohen

{"title":"The Size of the Rental Housing Segment in Poland and its Main Determinants","authors":"Arkadiusz J. Derkacz, Viktorija Cohen","doi":"10.2478/remav-2024-0005","DOIUrl":"https://doi.org/10.2478/remav-2024-0005","url":null,"abstract":"\u0000 Our research into the fast-growing segment of the rental market fits perfectly with the current wave of excitement. In this research, we attempt to answer a fundamental question: how large is the rental segment in Poland? To our surprise, the answer to this key question remains wrapped in mystery, with an absence of continuous studies disclosing its true size.\u0000 Undaunted, in this paper we took up the challenge to develop a method that would give us a clear answer. Using Eurostat statistics, we develop a methodological framework for estimating the size of the rental segment. We acknowledge that Eurostat data possesses certain limitations, yet serves as a valuable resource for fulfilling our goal under the proposed methodology. In our approach, we determine the size of Polish rental segment between 2007 and 2021. To validate our findings, we dived into the complex relationship between the size of the rental segment and households. Applying linear regression, we sought to unravel the main determinants influencing not only the overall housing market but also the dimensions of the puzzling rental segment. The proposed method proves to be successful and answers the research question. However, it is important to emphasize that the presented results are estimates that give an impression of the elusive size of the rental housing segment and not exact measurements. Moreover, the flexibility of the proposed methodology is promising and allows similar studies to be conducted in different geographical contexts.","PeriodicalId":510834,"journal":{"name":"Real Estate Management and Valuation","volume":"32 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140280561","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

Social Assessment of the Effect of Construction of the Southern Warsaw Ring Road on the Quality of Life and Residential Real Estate Market in the Wilanów District 华沙南环路建设对威拉努夫区生活质量和住宅房地产市场影响的社会评估

Real Estate Management and Valuation Pub Date : 2024-03-01 DOI: 10.2478/remav-2024-0001

Natalia Sajnóg, Monika Wierzchoś, K. Sobolewska-Mikulska

{"title":"Social Assessment of the Effect of Construction of the Southern Warsaw Ring Road on the Quality of Life and Residential Real Estate Market in the Wilanów District","authors":"Natalia Sajnóg, Monika Wierzchoś, K. Sobolewska-Mikulska","doi":"10.2478/remav-2024-0001","DOIUrl":"https://doi.org/10.2478/remav-2024-0001","url":null,"abstract":"\u0000 Every road investment has both positive and negative consequences in spatial, economic, environmental, and social terms. The objective of the article is the social assessment of the effect of construction of the Southern Warsaw Ring Road (WRR) on: (i) the quality of life of the local community, and (ii) the residential real estate market. The analyses employed the method of quantitative analysis with the application of the survey technique. The questionnaire was made publicly available to residents of the Wilanów district in Warsaw. Results obtained in the scope of the study render decision making models of respondents depending on the distance of the place of residence from the WRR. The results reveal that responses given by the group of respondents living nearer the ring road are the most variable, particularly in the context of assessing the effect of the investment on the quality of life, including nuisance related to the express road and plans to change the place of residence. The same group of respondents provided the highest share of responses supporting the claim that housing prices increased due to the construction of the ring road.","PeriodicalId":510834,"journal":{"name":"Real Estate Management and Valuation","volume":"496 ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140281181","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 Environmentally Certified Residential Developments in Poland 波兰环保认证住宅开发项目分析

Real Estate Management and Valuation Pub Date : 2024-03-01 DOI: 10.2478/remav-2024-0003

Alina Kulczyk-Dynowska, Aleksandra Nowicka

{"title":"Analysis of Environmentally Certified Residential Developments in Poland","authors":"Alina Kulczyk-Dynowska, Aleksandra Nowicka","doi":"10.2478/remav-2024-0003","DOIUrl":"https://doi.org/10.2478/remav-2024-0003","url":null,"abstract":"\u0000 The scale of environmental pressure caused by the construction sector has prompted a search for new technical solutions to minimize the negative impact of this part of the national economy on the environment. The drive to evaluate the adopted solutions has led to the creation of building assessment systems - environmental certificates.\u0000 The aim of the article is both to introduce the certification processes used in the Polish residential property market and to indicate the locations of residential investments that have obtained the certificates in question. The paper takes a closer look at environmental certification using multi-criteria building assessment systems, i.e. BREEAM, LEED and HQE. The time scope of the presented research covered the years 2016 to the first quarter of 2022.\u0000 The research carried out allowed an upward trend to be observed in the number of environmental certificates awarded, indicating the use of green building principles for residential properties. It is certain that there has been a development of this type of investment in Poland in the recent years. An analysis of the spatial distribution of the surveyed investments shows that location clusters have formed - green (low-emission) residential investments are distributed in the largest cities in Poland, which are characterized by a strictly defined consumer profile.","PeriodicalId":510834,"journal":{"name":"Real Estate Management and Valuation","volume":"353 ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140280257","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

Low Interest Rates and Uncreative Destruction in the Office Market 低利率与写字楼市场的非创造性破坏

Real Estate Management and Valuation Pub Date : 2024-02-20 DOI: 10.2478/remav-2024-0018

Krzysztof Olszewski, Dariusz Trojanowski, J. Łaszek

引用次数: 0

Comparison of Machine Learning Algorithms for Mass Appraisal of Real Estate Data 用于大规模评估房地产数据的机器学习算法比较

Real Estate Management and Valuation Pub Date : 2024-02-20 DOI: 10.2478/remav-2024-0019

Sibel Canaz Sevgen, Yeşim Tanrivermiş

引用次数: 0

The Form of Residential Premises Ownership Vs. Residential Standard of Seniors in Poland in the Opinion of Residents 居民眼中的波兰老年人住宅所有权形式与住宅标准居民眼中的波兰老年人居住标准

Real Estate Management and Valuation Pub Date : 2024-02-20 DOI: 10.2478/remav-2024-0012

M. Hełdak, A. Stacherzak, K. Przybyła, Alina Kulczyk-Dynowska, M. Płuciennik, Jakub Szczepański, O. Kempa, Joanna Lipsa

{"title":"The Form of Residential Premises Ownership Vs. Residential Standard of Seniors in Poland in the Opinion of Residents","authors":"M. Hełdak, A. Stacherzak, K. Przybyła, Alina Kulczyk-Dynowska, M. Płuciennik, Jakub Szczepański, O. Kempa, Joanna Lipsa","doi":"10.2478/remav-2024-0012","DOIUrl":"https://doi.org/10.2478/remav-2024-0012","url":null,"abstract":"\u0000 The study addresses the problem of diverse housing conditions experienced by seniors in Poland and equipping their apartments with installations improving the quality of life for people with reduced mobility, taking into account various forms of residential premises ownership: a condominium, a cooperative apartment and a council flat. The study aimed at providing answers to a number of questions, including: what is the readiness to change an apartment into a council flat adapted to the needs of people with mobility limitations, taking into account the current ownership status of the apartment (condominium, cooperative member’s ownership right to residential premises, the right to rent a flat from the council-owned housing resources).\u0000 The research was conducted in the cities of Wrocław and Jelenia Góra, located in Poland in the Lower Silesia Voivodship. A total of 208 people aged 50 and over were covered by the study. The authors found correlations between access to utilities and facilities in an apartment and the form of ownership of the dwelling. Among other things, the survey found that a toilet in the stairwell and the lack of central heating are much more common in communal apartments than in cooperative apartments and condominiums. Residents also pointed to the need to adapt bathrooms that are located in apartments. Tenants of public housing were also more likely to express a desire to adapt their apartments to the needs of people with limited mobility.","PeriodicalId":510834,"journal":{"name":"Real Estate Management and Valuation","volume":"233 ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-02-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140448955","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

Transportation Management in Urban Functional Areas 城市功能区的交通管理

Real Estate Management and Valuation Pub Date : 2024-02-20 DOI: 10.2478/remav-2024-0021

Marta Gross, Małogrzata Dudzińska, A. Dawidowicz, Ada Wolny-Kucińska

{"title":"Transportation Management in Urban Functional Areas","authors":"Marta Gross, Małogrzata Dudzińska, A. Dawidowicz, Ada Wolny-Kucińska","doi":"10.2478/remav-2024-0021","DOIUrl":"https://doi.org/10.2478/remav-2024-0021","url":null,"abstract":"\u0000 Urban and suburban transport within Functional Urban Areas (FUAs) is now considered an integrated system. In these regions, many residents commute from the suburbs to the city daily for work, education, and social purposes. Transport planning must consider these dynamics to ensure consistent and convenient connections between the city and its suburbs. This article stresses the need for a standardized tool to collect data on transport management models in FUAs across 38 OECD-affiliated countries.\u0000 The proposed tool, a survey questionnaire, aims to gather information on how transport management models are organized and operate in these regions. The article discusses research conducted in the Olsztyn FUA, revealing significant variations in transport management methods among municipalities. The questionnaire is categorized into four themes: public transport, transport infrastructure, FUA transport strategy and innovation, and risks and monitoring, offering a comprehensive view of the transport management model. The study also highlights varying development priorities among FUA municipalities; some focus on public transport, while others invest in road infrastructure. This study underscores the importance of a cohesive approach to transport management in FUAs, considering their diverse needs and requirements.","PeriodicalId":510834,"journal":{"name":"Real Estate Management and Valuation","volume":"114 ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-02-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140447829","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