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1
Melnikova, Yulia. "Spanish Real Estate Market Analysis." Master's thesis, Česká zemědělská univerzita v Praze, 2016. http://www.nusl.cz/ntk/nusl-259902.
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At the beginning of 2000-ies the real estate market of residential property in Spain considered to be one the most popular and fast-growing real estate market in Europe, which attracted a great number of investment into the country and thus contributed greatly to the development of the national economy of Spain. However, because of the economic crisis in the country, residential real estate market collapsed significantly. At the present time, the Spanish real estate market of residential property market is recovering from the recession to the pre-crisis level as the prices for residential real estate property has started increasing due to the high demand for it. All this factors positively affect the national economy of Spain.
In order to obtain the major aim of the thesis, it is crucial to conduct a retrospective overview of the residential real estate market of Spain before the crisis and provide a bene-ficial real estate market analysis of the current situation on the market of residential proper-ty.
2
Kim, Kyungmin. "An econometric analysis and forecasting of Seoul office market." Thesis, Massachusetts Institute of Technology, 2011. http://hdl.handle.net/1721.1/68184.
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Thesis (S.M. in Real Estate Development)--Massachusetts Institute of Technology, Program in Real Estate Development in Conjunction with the Center for Real Estate, 2011.This electronic version was submitted by the student author. The certified thesis is available in the Institute Archives and Special Collections.
Cataloged from student-submitted PDF version of thesis.
Includes bibliographical references (p. 67-68).
This study examines and forecasts the Seoul office market, which is going to face a big supply in the next few years. After reviewing several previous studies on the Dynamic model and the Seoul Office market, this thesis applies two structural econometric models to forecast trends of rent, vacancy, and new supply of office space of Seoul Office Market, which is going to face a big supply in the next a few years. The first model has rent and supply equations. The second model is a full model that consists of three simultaneous equations; rent, supply, and absorption equations Empirically, the simple model was tested against time-series data of the Seoul office market since 1975. Rent equation is explained by current office stock, current GDP and past rent and past GDP, both lagging one year. The supply equation explains new office supply by one year lagging completion, five and six years lagging rent and growth of GDP in two previous years. The second model is a full model that consists of three simultaneous equations: rent, supply, and absorption equations based on time-series data since 1991. In this model, rent is impacted by current vacancy rate, past rent and vacancy rate both lagging one year. The supply equation is explained by completion one year ago, five years lagging rent, and past vacancy rate lagging four years, and the absorption equation is expressed by GDP per employment, current GDP, one year ago rent, and occupied stocks. Using estimated models with exogenous supplies for the next six years, ten-year contingent forecasts are made based on three scenarios having different estimated GDP growths. The forecasts for both models demonstrate that untypical supply for next six years will impact office rent negatively in all of the scenarios. In short, the Seoul office market, strongly affected by big supply over demand until 2016, will tend to be become soft or tight during same period before supply goes down and rent reacts. Since late 2010s, however, the market will fully recover from oversupply.
by Kyungmin Kim.
S.M.in Real Estate Development
3
Nordström, Louise, and Sofie Karlssson. "The Swedish Real Estate Market and Macroeconomic Factors." Thesis, Jönköping University, JIBS, Economics, 2008. http://urn.kb.se/resolve?urn=urn:nbn:se:hj:diva-1201.
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The real estate market has been of great interest since the rise in home foreclosures in
US, which started in the late 2006. The purpose of this thesis is to examine a possible
relationship between the factors presented in DiPasquale and Wheaton’s (1996) model
which explains the market linkages between the property market and asset market, and
the Swedish real estate companies listed on the Swedish stock market OMX. The real
estate stock market is, divided in to groups of 3, which represented the dependent
variable. The repo rate, CPI, expected inflation, macro index, disposable income, GDP
and a real estate price index are the explanatory variables. Stockholm Stock Market All-
Share Index (OMXSPI) is also included as a possible explanatory variable.
The main findings in most of the estimations for the groups and years, is that the
OMXSPI is of significance at the 10 percent level. The other variables did not show any
significant result based on the 10 percent significance level,
According to the results it seems like the volatility has increased over time in the real
estate stock market with respect to the OMXSPI. That is; the risk has increased
significantly from the period 1996-1999 to the later periods.
4
Agboola, Alirat Olayinka. "The commercial real estate investment market in Lagos, Nigeria : an institutional economics analysis." Thesis, University of Aberdeen, 2015. http://digitool.abdn.ac.uk:80/webclient/DeliveryManager?pid=226795.
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Globalization of real estate investments have revealed an increased desire by investors to operate outside their domestic markets. The removal of barriers to international capital movement and liberalisation of financial markets have made cross-border property investments an attractive alternative for investors, as they take advantage of its diversification potential thus spreading their risks. However, international real estate investment entails venturing into the unknown, where there are unfamiliar political and economic environments. Each property market has its rules, business culture and networks, while experience in one market may not translate well to another. This is because the institutions of a market impinge on market outcomes and behaviour by generating transaction costs which weigh against the returns on investment assets, while these costs may affect domestic versus foreign investors differently. Also, the peculiar nature of real estate, for example heterogeneity and asymmetric information makes it a particularly illiquid asset class. The time element of illiquidity represents an important risk to investors because it exposes them to an extended period of uncertainty. Illiquidity in turn makes real estate an asset specific investment as it calls for the input of intermediaries who utilize their extensive knowledge of the market to facilitate transactions. This makes intermediation an essential requirement for successful investment, as intermediaries introduce asset specific knowledge to the investor to promote liquidity and attenuate risk. However, intermediation imposes an additional transaction cost on investors as it is the price paid for immediacy of the transaction. It is therefore argued that the institutional environment of a real estate market not only underpins market structures and behaviour, but also the inherent characteristic of the asset which calls for the need for intermediation further informs the structures of the market through which commercial real estate is traded. Therefore, an understanding of the wider institutional environment of a real estate market is not only important, but also an understanding of the intermediation structure and associated costs which informs market processes is expedient for successful international real estate investment. This study investigates the institutions through which the commercial real estate investment market in Lagos, Nigeria operates. It offers a new and holistic framework for understanding how the institutions of a market influence its operation in terms of the associated transaction costs, particularly in the context of an emerging real estate market. The study adopts a combined Northian and Williamsonian Transaction Cost Economics theoretical framework and employs a qualitative research approach to achieve the objectives of the study. This involves semi-structured interviews with key market players and a process of thematic analyses of the interviews. Findings show that the Land Use Act of 1978 and the indigenous landholding system form the major formal and informal institutions governing the operation of the market respectively. Findings further reveal that transaction costs associated with the formal institution of the market at 15% of assessed property value and additional intermediation cost of between 2.5% and 5% of the property price, are high when compared to the developed market of the UK, for example. Also, while the formal institutions of the market do not affect foreign and domestic investors differently, findings show that the informal institutions and specifically the associated transaction costs do. An implication of the poor enforcement of the formal rule of the market is the increasing informality in the market and consequent difficulty of securing debt financing and high interest rate due to poor evidence of title. The study recommends a review of the key formal institution of the market to remove its ambiguities and eliminate the omo-onile phenomenon which is a negative transformation of the indigenous landholding system, and of which the perpetrators behave opportunistically, exploiting loopholes in poorly written formal law, thus generating transaction costs embedded in informal institutions of land rights.
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Watkins, Steven C. Jr (Steven Charles). "Frontier market analysis : a case study of Iraq's real estate industry." Thesis, Massachusetts Institute of Technology, 2010. http://hdl.handle.net/1721.1/62056.
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Thesis (S.M. in Real Estate Development)--Massachusetts Institute of Technology, Program in Real Estate Development in Conjunction with the Center for Real Estate , 2010.Cataloged from PDF version of thesis.
Includes bibliographical references (p. 79-81).
Success in frontier markets could mean high returns for real estate developers and investors. In order to succeed, companies must determine how to provide their products or services in an environment that may not necessarily adhere to familiar institutional, legal or even ethical norms. Strategists may never feel informed enough to make educated decisions because there is not enough data to populate sophisticated financial models. However investors and multinationals have a growing desire to gain exposure to underdeveloped markets. This leaves managers with the challenge of evaluating frontier investment markets and navigating risky foreign business environments. This thesis attempts to answer the following question: to what extent can a researcher establish a viable framework to strategically plan for and operate in frontier market built environments? To answer this question, this thesis shall first address the nature of "frontier markets," then proposes a framework for entrepreneurs or multinationals intending to penetrate a frontier market's built environment through either direct investing or real estate development. The framework is a qualitative model, a compilation of analysis tools used by scholars, economists, political scientists, and investors working with and in emerging markets. The framework assesses markets on a broader, strategic echelon as well as an operational business management level. Lastly, we populate the framework with current information from Iraq, one of the most challenging and interesting frontier markets in the world today. The conclusion assesses the utility of the framework by highlighting information voids as well as potential business opportunities. The conclusion articulates that frontier market analysis will never be as valid as analysis of the developed markets because frontier markets are inefficient and information is difficult to ascertain, thus satisfying the definition of "frontier market". The analysis framework will not yield empirical findings like accurate forecasts of NPV, PV, IRR, etc. It will return, qualitatively, institutional voids in potential business opportunities. Keywords: frontier markets, Iraq, real estate.
by Steven C. Watkins, Jr.
S.M.in Real Estate Development
6
Gao, Ya S. M. Massachusetts Institute of Technology. "Chinese outbound investments in the U.S. real estate market : analysis and perspectives." Thesis, Massachusetts Institute of Technology, 2016. http://hdl.handle.net/1721.1/106757.
Full textAbstract:
Thesis: S.M. in Real Estate Development, Massachusetts Institute of Technology, Program in Real Estate Development in conjunction with the Center for Real Estate, 2016.Cataloged from PDF version of thesis.
Includes bibliographical references (pages 57-58).
Chinese outbound investments have expanded rapidly in recent years and drawn wide attention in the U.S. real estate market. Unlike previous waves of Chinese investment in the past two decades, this batch of capital inflow shows various types of institutional players investing in almost all property types across the U.S. through diversified and innovative deal structures, making headlines and striking record-price deals every few weeks. Chinese investors are also driven by different incentives besides seeking for yield and return, which is partially why the U.S. real estate space is seeing interesting dynamics in the deals and markets where these investors are active in. I would like to take a deep-dive study into these outbound investment initiatives and systematically explore the key opportunities, trends and issues. For this essay, I would like to focus on the institutional side of Chinese investments, namely investments made by capital management platforms or corporates, rather than personal and family office investments into ultra-luxury houses or retail investments through EB-5 programs. As there are limited public data points recorded for executed acquisitions available to assist deep-level exploration, partially due to the relatively small transaction volume in fixed asset space, we decided to implement interview and case study approach in order to obtain front-line view of the potential trends and opportunities. This essay starts with a general overview of China's macro fundamentals and Chinese outbound investments across all destination countries and industry sectors, then analyzes the various aspects of Chinese capital in the U.S. real estate market, including size, structures, geographic breakdown, property type breakdown and key investor types supported by case studies of each investor type. The detailed transaction analysis and investment incentive analysis are also arranged in the section of investor types, since different investors are showing different characteristics. Then I addressed the key issues and trends in this space, including tax issues, granularity, real estate technology investments, macro political trends, the controversial aggressiveness and opportunities for managed accounts business and new players in the field, in order to provide forward-looking perspectives.
by Ya Gao.
S.M. in Real Estate Development
7
Herath, Shanaka, and Gunther Maier. "Informational efficiency of the real estate market: A meta-analysis." Hanyang Economic Research Institute, 2015. http://dx.doi.org/10.17256/jer.2015.20.2.001.
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The growing empirical literature testing informational efficiency of real estate markets uses data from various contexts and at different levels of aggregation. The results of these studies are mixed. We use a distinctive meta-analysis to examine whether some of these study characteristics and contexts lead to a significantly higher chance for identification of an efficient real estate market. The results generated through meta-regression suggest that use of stock market data and individual level data, rather than aggregate data, significantly improves the probability of a study concluding efficiency. Additionally, the findings neither provide support for the suspicion that the view of market efficiency has significantly changed over the years nor do they indicate a publication bias resulting from such a view. The statistical insignificance of other study characteristics suggests that the outcome concerning efficiency is a context-specific random manifestation for the most part. (authors' abstract)
8
Ng, How-man Helen. "An analysis of the Hong Kong residential property market with reference to the government's housing policy /." Hong Kong : University of Hong Kong, 1998. http://sunzi.lib.hku.hk/hkuto/record.jsp?B19908891.
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Tse, Yin-ching Raymond, and 謝賢程. "A theoretical analysis of the market of residential real estate: with application to Hong Kong." Thesis, The University of Hong Kong (Pokfulam, Hong Kong), 1990. http://hub.hku.hk/bib/B31976402.
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Waisnor, Matthew E. (Matthew Edward). "An econometric analysis and forecast of the Central London Office Market : single model versus aggregate submarket models." Thesis, Massachusetts Institute of Technology, 2013. http://hdl.handle.net/1721.1/84167.
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Thesis (S.M. in Real Estate Development)--Massachusetts Institute of Technology, Program in Real Estate Development in Conjunction with the Center for Real Estate, 2013.This electronic version was submitted by the student author. The certified thesis is available in the Institute Archives and Special Collections.
Cataloged from student-submitted PDF version of thesis.
Includes bibliographical references (pages 81-82).
This paper examines and projects fundamental characteristics of the London Office rental market which is facing supply and demand issues in upcoming years despite being considered one of the few safe haven places for real estate investors during the recent worldwide financial uncertainty. The paper divides the Central London market into four submarkets: Docklands, Midtown, City, and West End. The key issue the paper will examine, aside from projecting future market fundamentals for a 10 year period, is whether on an econometric analysis level it is better statistically to analyze the market utilizing one singular model or to model each submarket separately then sum the outputs. First, the paper will discuss the history and development of the economic model, then discuss what papers have analyzed the London office market utilizing econometric models, and finally what previous studies have examined submarkets utilizing econometric models. Next, the paper will analyze what's occurred from 1986-2012 and try to offer some explanation of why the markets have behaved the way they have on a submarket and aggregate level. Next, the paper will present the model utilized to project the conditions for 10 years and examine back tests for the previous five years (2008-2012) to examine how well the model would have predicted the actual events of the time period. This study derives three main econometric equations for each submarket and Central London as a whole. The rental equation is explained by a lag of one year of rent and the current quarter's vacancy. The demand equation is explained by a 1 year lag in occupied stock, the current level of government service employment, the current level of fire, insurance, and real estate employment, and a four year lagged vacancy. The supply equation is explained by a 1 quarter lag in yield, a 1 year lag in yield, the current bond rate, the current real rental rate, a 1 quarter lag in real rental rate, and the spread between 10 year government bonds and corporate bond rates. The model is utilized both on each submarket and on the Central London market as a whole. Finally, the paper examines the differences in aggregating the submarkets versus modeling Central London in one model. This is done by comparing the models outputs for the previous 5 year back test and also for the 10 year projections.
by Matthew E. Waisnor.
S.M.in Real Estate Development
11
Wong, Mimi. "An analysis of the intervention of Hong Kong government in the housing market /." Hong Kong : University of Hong Kong, 2001. http://sunzi.lib.hku.hk/hkuto/record.jsp?B25949925.
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Jonasson, Jesper, and Tobias Rosén. "The influence of real estate price fluctuations on real estate stocks : An analysis of Swedish asset classes." Thesis, Internationella Handelshögskolan, Högskolan i Jönköping, IHH, Nationalekonomi, 2019. http://urn.kb.se/resolve?urn=urn:nbn:se:hj:diva-44330.
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With background to recent price growth in Swedish real estate and consequently real estate stocks, our aim is to examine the relationship between real estate price development and real estate stock price development. To test our hypothesis, that real estate price development have had an impact on the return of real estate stocks, we built a capital asset pricing model. We divide the return of real estate stocks into two parts, the return in relation to the Swedish market premium and the excess return that is given for the exposure of the real estate market. We found that real estate exposure would treat the investor with an additional return beyond the return given from stock market exposure; hence, real estate price development has contributed to real estate stock returns.
13
何曼芳 and Man-fong Christabel Ho. "Risk analysis of Hong Kong's real estate market towards 1997 and beyond." Thesis, The University of Hong Kong (Pokfulam, Hong Kong), 1996. http://hub.hku.hk/bib/B31251456.
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Ho, Man-fong Christabel. "Risk analysis of Hong Kong's real estate market towards 1997 and beyond /." Hong Kong : University of Hong Kong, 1996. http://sunzi.lib.hku.hk/hkuto/record.jsp?B25947643.
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Nayar, Sameer. "The Indian real estate market : a comprehensive analysis for the foreign investor." Thesis, Massachusetts Institute of Technology, 1996. http://hdl.handle.net/1721.1/69367.
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Kuncová, Barbora. "Selling Price and Time on the Real Estate Market: A Meta-Analysis." Master's thesis, Vysoká škola ekonomická v Praze, 2016. http://www.nusl.cz/ntk/nusl-205863.
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The aim of the thesis is to broaden the research in the field of housing economics using the statistical tool of meta-analysis. The thesis examines the relationship between the selling price of a house and the time the house spends at the housing market. Although the research investigating this relation is of a wide comprehension, the results arising from various primary studies differ a lot. The goal of the thesis is to explain the source of this heterogeneity and determine the factors causing this variation. According to the results, it can be concluded that the effect size is influenced mainly by number of observations, modelling technique and specification of the model. Median income or location are other factors also determining the size of estimated coefficients. Also publication bias has been investigated although its presence is not confirmed in this thesis.
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Tsang, Ngo-ming Agatha, and 曾傲明. "Analysis of the embryonic property management market in Huadu Districtof Guangzhou." Thesis, The University of Hong Kong (Pokfulam, Hong Kong), 2009. http://hub.hku.hk/bib/B45153590.
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Graham, Timothy Royce. "An analysis of the convention center market and implications for the planned expansion of the Boston Convention and Exhibition Center." Thesis, Massachusetts Institute of Technology, 2018. http://hdl.handle.net/1721.1/117303.
Full textAbstract:
Thesis: S.M. in Real Estate Development, Massachusetts Institute of Technology, Program in Real Estate Development in conjunction with the Center for Real Estate, 2018.Cataloged from PDF version of thesis.
Includes bibliographical references (pages 49-51).
The proposed expansion of the Boston Convention and Exhibition Center was approved by the Massachusetts legislature in 2009. In 2010, the governor put the expansion on hold citing an overstated economic impact. Proponents argue that expanding the convention center will lead to increased occupancy and significant economic benefits. But do the benefits outweigh the costs? The first part of this thesis provides an overview of the convention center market in the US as well as two case studies of convention centers that have undergone expansions. The second part closely examines the history and performance of the Boston Convention and Exhibition Center using data from the Massachusetts Convention Center Authority along with data from various other sources to project realistic economic costs and benefits of the expansion as currently proposed.
by Timothy Royce Graham.
S.M. in Real Estate Development
19
Kass, Hunter L. (Hunter Lindsay). "The luxury second home market : an analysis of historical sales and property data at The Greenbrier Resort (White Sulphur Springs, WV)." Thesis, Massachusetts Institute of Technology, 2011. http://hdl.handle.net/1721.1/68185.
Full textAbstract:
Thesis (S.M. in Real Estate Development)--Massachusetts Institute of Technology, Program in Real Estate Development in Conjunction with the Center for Real Estate, 2011.This electronic version was submitted by the student author. The certified thesis is available in the Institute Archives and Special Collections.
Cataloged from student-submitted PDF version of thesis.
Includes bibliographical references (p. 54-55).
The global economic expansion and subsequent creation of wealth as well as increased purchasing power and disposable income has contributed to the growth in the secondary home market. Over the past decade developers that cater to such discerning buyers have focused significantly on bringing to market products that will meet the wants, needs, and expectations of their target customers. Despite the significant growth in the secondary home market and general infatuation that most individuals have with real estate, there are limited studies that analyze the second home market. Instead most research has focused on the commercial and primary home real estate markets. This study examines a specific development, The Sporting Club at The Greenbrier Resort in White Sulphur Springs, WV. The study focuses on the residential home price transactions that occurred at The Greenbrier Resort since 1980. The data collected from the Greenbrier County Assessor!s Office will be used to derive a hedonic price equation. This equation will help to explain the value derived from key home attributes; beds, baths, home square footage, and location. Then a nominal and real price index will be constructed and used to understand the correlation between home prices and supply and GDP. The end goal is to calculate, through regression analysis, a price equation with the dependent variable price and independent variables of supply and demand (GDP) and a supply equation. The analysis has three conclusion sections. The first is the hedonic price equation that implies the law of marginal utility is recognized with respect to the number of bedrooms a home has and that any more than three a negative affect on price occurs. However, with respect to bathrooms, additional bathrooms do add to the price of the residence. The second and third conclusions are derived from time series equations. The first explains that for every increase by 1% in GDP the real price of a property increases by $4,332. The second equation tries to explain supply and concludes that a 5% increase in the real price index causes a 5.4% increase in supply or unit supply elasticity is observed. A recommendation for the owner/developer of The Greenbrier Sporting Club is to buyback vacant lots because currently 78% of the supply is in control of the owners. This phenomena will most likely lead to future price volatility as supply will be delivered to the market as families and speculators chose. In other words supply will not be delivered to the market at a rate that will stabilize prices.
by Hunter L. Kass.
S.M.in Real Estate Development
20
Al-Marwani, Hamed Ahmed. "An approach to modeling and forecasting real estate residential property market." Thesis, Brunel University, 2014. http://bura.brunel.ac.uk/handle/2438/10005.
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This thesis aims to provide an approach to real estate residential modeling and forecasting covering property types’ correlation, time series attributes within a region or a city, and socio-economic attributes of preferred real estate locations. The thesis covers residential estate markets and concentrates on property types, while previous studies that have considered country wide house price indices. There is a gap identified in the literature in the need to study correlations between property types within a region or a city and whether they will provide diversification benefits for real estate investors such as risk reduction per unit of returns. The thesis concentrates on property type seasonality in addition to modeling time series attributes within a region or city instead of real estate index seasonality. This thesis the first to combine modern information systems techniques such as geographic information systems (GIS) with socio-economic factors to help understanding causal relationships that can be used to forecast real estate prices. The results show that it is more achievable to forecast real estate prices within a city than for the real estate market of the entire country. The GIS and socio-economic modeling results show that higher property prices are awarded to real estate with more green spaces, residents with higher disposable incomes, lower council tax bands, fewer tax benefits claimants, and better health services. Previous studies have examined real estate price indices at the macro level (the general, all real estate house price indices). There has not been a study that examines real estate price forecasts by property types within a city. The contribution of this thesis is its focus on time series analysis as well as causal modeling within a city with the objective of providing a better understanding of the dynamics of real estate price changes.
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Kooakachai, Sunchai. "Penetration models in Real Estate Market Analysis : A case study in Lidingö Municipality." Thesis, KTH, Bygg- och fastighetsekonomi, 2011. http://urn.kb.se/resolve?urn=urn:nbn:se:kth:diva-89797.
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Although the concept of real estate market analysis are more widely used in real estate industry but penetration rate seem to be misunderstood by some commentators in the market. To accomplish a penetration analysis, existing models have to extensive taking the specific characteristics of explainable model and techniques that allow the market commentators to estimate penetration rate with more accuracy through existing models by integrate changes in the macro economy. The main purpose of this paper is to explain and analyze to give some issues for the prediction of how business cycle and real estate cycle will affect to penetration rate. The scope of this thesis is to study of a medium sized complete residential development in Sweden namely Gåshaga Pirar in Lidingö municipality.
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Yamagata, Hiroo. "Analysis of the Tokyo commercial real estate market using the Torto-Wheaton model." Thesis, Massachusetts Institute of Technology, 1995. http://hdl.handle.net/1721.1/11580.
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Ujčíková, Simona. "Analýza trhu s nemovitostmi ve vybraných regionech ČR." Master's thesis, Vysoké učení technické v Brně. Ústav soudního inženýrství, 2015. http://www.nusl.cz/ntk/nusl-234447.
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The objective of the thesis „Analysis of real estate market in selected regions of the Czech Republic“ is to analyze the real estate market in two selected regions, two of thein districts and in their capital cities. The first part of the thesis focuses on the theoretical description and terms related to the real estate market. The second part targets the description, territorial development and social level of two selected district towns. In the third part, I compare and analyze the real estate market in selected regions – the South Moravian Region (Jihomoravský) and Vysočina region and in their district towns. The analysis mainly focuses on the price development of apartments in the different districts. In the last part, I compare the market aspects of the different districts with regard to my previous findings and their influence on the local property market.
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Pawlowski, Paul, and de Souza Patrick Beividas. "Are there signs of a bubble? : An analysis of the Luxembourg real estate market." Thesis, Jönköping University, 2021. http://urn.kb.se/resolve?urn=urn:nbn:se:hj:diva-54332.
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Luxembourg has seen an unprecedented rise in homeownership prices in the last decade, hinting the existence of a speculatory bubble. Housing bubbles can have catastrophic effects on surrounding economies, so identifying them is paramount. This paper investigates Luxembourg’s housing prices and related factors in search for evidence of this bubble. The method consists of a two-stage econometric analysis of homeownership prices (dependent, HPI used for proxy) and its determining factors (independent, e.g. interest rates, incomes, population, etc.) spanning the last 15 years. First, all the time-series are tested for stationarity using the Augmented Dickey-Fuller test. Second, homeownership prices are tested for bivariate cointegration with the independent variable time-series using the Engle-Granger method. Cointegration of time-series is evidence of a shared long-run equilibrium, so absence of such relationships indicates market dysfunction. Under specific conditions, a speculatory bubble becomes the likely culprit. We identified no strong, statistically significant cointegrating relationships between homeownership prices and any of their determining factors. In combination with other indicators, we consider this to be admissible evidence for the existence of a bubble in Luxembourg’s housing market. We also suggest policy measures that could alleviate this potential bubble and discuss their likely outcomes.
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HELLQVIST, OSKAR, and ANTON SANDVALL. "Preference Shares – A lead lag analysis of the Swedish real estate sector." Thesis, KTH, Nationalekonomi, 2016. http://urn.kb.se/resolve?urn=urn:nbn:se:kth:diva-198692.
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Several researchers have over the past decades criticised the efficient market hypothesis as several studies have presented evidence of causality and co-integrating relationships in inancial markets. As preference shares have become increasingly popular, in recent years, as a mean of raising capital in the Swedish real estate sector, this study investigates the causal relationships between common shares and their corresponding preference share of nine listed Swedish real estate companies. By using daily closing prices over the period Dec 2014 – April 2016, we find weak support for short-run causalities in five of the nine examined pairs but no long-run cointegrating relationships. Further, we find causality running from the largest five firms to the four smallest in the sample firms. These findings violate the weak form of the efficient market hypothesis, which state that asset price fluctuations are random and not possible to forecast by the use of historical asset prices.
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Yusupova, Alisa Yevgenyevna. "An econometric analysis of U.K. regional real estate markets." Thesis, Lancaster University, 2016. http://eprints.lancs.ac.uk/82680/.
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This thesis presents an analysis of UK national and regional property price dynamics with the focus on changes in the time-series properties of real estate prices and their forecastability. The main research questions addressed are the following. First, have UK regional property prices experienced episodes of explosive dynamics in the past and if so, can these episodes be explained by movements in economic fundamentals. Second, considering the substantial instability of UK real estate markets over the last few decades, which are the best econometric models for predicting future house price dynamics and which economic variables are the most important drivers of property prices movements.
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Suk, Ondřej. "Specifika trhu nemovitostí v Olomouckém kraji." Master's thesis, Vysoké učení technické v Brně. Fakulta stavební, 2019. http://www.nusl.cz/ntk/nusl-391954.
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The objective of the thesis Specifics of real estate market in the Olomouc region is to analyse the real estate market of the districts of the Olomouc region. Then compare the market specifics of these districts and compare the selected location within the Czech Republic. The first part of the thesis is focused on the theoretical description and terms related to the real estate market. Then it describes the subjects of the real estate market and the factors that influence this market. Next chapter is focused on the regional policy and its impact on the real estate market. In the next part is the analysis of real estate market in the Olomouc region itself. There is the comparison of the districts in the Olomouc region. The analysis is focused mainly on the price development of selected types of real estate in the selected location and then is compared within the Czech Republic.
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Ng, How-man Helen, and 吳巧文. "An analysis of the Hong Kong residential property market with reference to the government's housing policy." Thesis, The University of Hong Kong (Pokfulam, Hong Kong), 1998. http://hub.hku.hk/bib/B31269138.
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Vass, Susanna. "Investing in commercial real estate : An analysis of the purchasing power in Stockholm´s retail areas." Thesis, KTH, Fastigheter och byggande, 2012. http://urn.kb.se/resolve?urn=urn:nbn:se:kth:diva-96476.
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The interest in investing in commercial real estate has increased in recent years and as a result the need for making well informed investment decisions has increased as well. Investing in real estate is different from investing in other asset classes due to its longevity, spatial constraint, regulatory framework etc. and thus investing in commercial real estate requires knowledge of the specific attributes of the property itself as well as in the factors in the surrounding area that affect the property. Thus, the purpose of this thesis is to enlighten the reader of the various investment issues that arise when investing in commercial property and to give an account of how the investment decision is actually performed and what factors affect it. The research on how commercial real estate investments are made is firstly provided through a literature review that highlights several investment issues and illustrates of how investment decisions are made by conducting the market analysis. In the next section of the thesis, a practical market analysis follows conducted on the retail area of Stockholm that is based on the findings and suggested procedures in the literature review. The market analysis is designed to incorporate a qualitative research where the data is gathered and calculated and a quantitative research where the data compiled in the quantitative research is analyzed and interpreted. The analysis of the market analysis shows that there is a vast amount of data available to consider when executing the market analysis and that these data have to be carefully selected in the screening of the real estate market. It is vital to include only relevant factors that affect the demand for the specific property, and consequently the ability of the property to generate payoff, in order to for the market analysis to provide insightful and important guidance for the investment decision at hand. Even though the research in this study provide important implications for investor on which demand factors that are important in a market analysis, the study is still limited by the inaccessibility to property specific demand factors such as rental contracts and repair and maintenance costs, which results in a suggestion of further research in this field in particular.
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Corsini, Kenneth Richard. "Statistical analysis of residential housing prices in an up and down real estate market a general framework and study of Cobb County, GA /." Thesis, Atlanta, Ga. : Georgia Institute of Technology, 2009. http://hdl.handle.net/1853/31763.
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Thesis (M. S.)--Building Construction, Georgia Institute of Technology, 2010.Committee Chair: Baabak Ashuri; Committee Member: Dr. Linda Thomas-Mobley; Committee Member: Kathy Roper. Part of the SMARTech Electronic Thesis and Dissertation Collection.
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Dadák, Michal. "Metodologie segmentace realitního trhu pro oceňovací proces." Master's thesis, Vysoké učení technické v Brně. Ústav soudního inženýrství, 2017. http://www.nusl.cz/ntk/nusl-318119.
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This master thesis is focused on the analysis of the real estate market and its segmentation. The beginning of the thesis deals with the basics of the real estate economy and consequently with the main segments on the real estate market. Different statistical and mathematical methods are used in the segmentation of the housing market. The thesis is closed by the analysis of the real estate market and the demonstration and description of how to separate the segment from the market. The output of the work is the recommended methodological procedure for the appraisers.
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Chapman, Joshua. "FRANKLIN BOULEVARD REDEVELOPMENT PROJECT AREA MARKET ANALYSIS." DigitalCommons@CalPoly, 2010. https://digitalcommons.calpoly.edu/theses/422.
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The following Market Analysis is an analysis of the Franklin Boulevard Redevelopment Project Area. The analysis is divided into the following four sections: ♦ Planning Context ♦ Real Estate Market Conditions ♦ Emerging Market Opportunities & Case Studies ♦ Conclusion The report serves as an opportunity to aide stakeholders of the Franklin Boulevard Redevelopment Project Area. Stakeholders include residents, business owners, the City of Sacramento, County of Sacramento, Sacramento Housing and Redevelopment Agency (SHRA), and the North Franklin District Business Association (NFDBA). The stakeholders are continually searching for data and creative examples of how to transform the area into a premier “urban” destination in the Sacramento Region.
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Lee, Sean S. M. Massachusetts Institute of Technology. "Second home real estate market : economic analysis of residential pricing behavior near Heavenly Ski Resort, CA." Thesis, Massachusetts Institute of Technology, 2008. http://hdl.handle.net/1721.1/58654.
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Thesis (S.M. in Real Estate Development)--Massachusetts Institute of Technology, Dept. of Urban Studies and Planning, Center for Real Estate, 2008.This electronic version was submitted by the student author. The certified thesis is available in the Institute Archives and Special Collections.
Includes bibliographical references (leaf 63).
This paper examines a second home market near Heavenly Ski Resort in South Lake Tahoe, CA to understand historical pricing behaviors and to forecast future prices using an econometric model derived from economic, demographic, and climate data. In order to do this study, we gathered historical residential sales data from 1988 to 2008 for the study area, which is limited to residential houses located within a one-mile radius of the resort. Moreover, other external variables, such as Tahoe skier visits, natural snowfall, San Francisco Bay Area income and employment, and mortgage interest rates, were collected for the same time period to determine how these variables influenced the prices. First, using approximately 550 residential sales data, a price index was created and subsequently historical residential home pricing behaviors were analyzed. Typically, evaluation of house prices is difficult since each residential property is a composite of goods that contain varying amounts of attributes. Therefore, the hedonic house price model was applied to recognize and remove effects of the housing-specific attributes on pricing. As a result, the real price index tracks only real prices as a function of time. Over the 20 years of study period, two distinct trends were observed. The real prices remained flat for the first 10 years and increased substantially in the second 10 years. Overall, the real price index linearly trended upwards. Employing the real price index and the external variables, a series of equations was developed as the foundation of an econometric model. The econometric model utilizes the following equation: New Permits (a measure of supply) and Tahoe Skier Visits (a measure of demand), to forecast future supply and demand.
(cont.) The future projections with relevant economic variables then were put into Stock and Real Price (a measure of residential prices) equations to establish future prices. Using the econometric model, we employed three scenarios portraying future economic conditions to examine the pricing behaviors: realistic, optimistic, and pessimistic. In reaction to moderate snowfall and economic growth in the realistic scenario, the real prices slope downward immediately and then upward. With a higher economic growth and a phenomenal snowfall, the optimistic scenario predicts the highest price appreciation through increase in demand. The pessimistic scenario is the only one in which the significant price decline is predicted. This study concludes that residential home prices will continue to increase in all cases except for the pessimistic scenario, in which there are poor economic conditions and a light snowfall. Another conclusion is that the existing housing stock is confined and outdated due to the maturity of this market as well as new development restrictions imposed by the local authority.
by Sean Lee.
S.M.in Real Estate Development
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Peacock, Johanna. "The Uses of Real Estate Market Analysesfrom a Municipal Perspective: A Case studyof the development area Norra Arnö in themunicipality of Nyköping." Thesis, KTH, Fastigheter och byggande, 2014. http://urn.kb.se/resolve?urn=urn:nbn:se:kth:diva-147375.
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An increasing population is a given pursuit for many municipalities in Sweden. The purpose of this thesis is to demonstrate a method that may help increase the municipalities awareness of what possible newcomers are looking for in residential development areas, what their preferences are, and what it is that affects their decision to live in a certain area and house. With this type of information, municipalities are introduced to the underlying factors that influence the customer’s (newcomer’s) decision-making processes. A better market awareness can increase municipality’s competitiveness as well as ensure a higher demand for housing. This thesis shows how a real estate market analysis of level D with a customer-based attitude survey is performed through a case study of the development area Norra Arnö in the municipality of Nyköping in Sweden. Norra Arnö is currently undeveloped, with the exception of a new retirement home. An attitude survey serves as a large part of the market analysis to analyse the customer experience of the housing development Norra Arnö. The survey was formulated through several dimensions that have an impact on the decision making process when moving to a new area. These dimensions include; appealing residential project, pleasant living environment, appealing residential houses, overall impression, an intention of moving to a similar project, communication, and value for money. Towards the end of the survey the respondents were asked whether they had an intention to buy an apartment in Norra Arnö, to which 21 out of 229 responded yes. The answers were then analysed through the methods Exploratory factor analysis and Structural equation modeling. These techniques enabled a comparison of the groups (e.g. families with children, ages, gender etc.) preferences in each dimension to find out what factors affect the decision making process for each group. The results of the survey found that young people (under 29 years) have a more positive overall impression of the project and demonstrate a greater intention to live in a residential area similar to Norra Arnö. Additionally it is the lower income groups (below 399 000 kr per year) and those who intend to move within five years, who also have an intention to live in a housing project similar to Norra Arnö. The age group 30-44, families with children, residents of Nyköping and people living in single-family houses were more positive to the dimension communications, which means they to a greater extent believe Nyköping is a good town to live in, where they can easily reach their friends, work and activities. Generally speaking, the dimension communications had greatest ii significance for the differences of answers exhibited in the survey, and can therefore have a major impact on the demand of the project. Out of 229 respondents, 21 people said they intended to buy an apartment in this new area, which unfortunately is a too small figure to be able to analyse the factors that have the greatest influence on the decision of saying yes to the project. The number of people resident in Oxelösund, the secondary market area, was 40, regrettably also a too low number of people to statistically estimate the size of the demand. However 10 % of respondents showed an intention to buy an apartment on Norra Arnö, and considering that the survey only took into account one secondary market area, it is assumed that demand exists for the apartment complex even though a specific number cannot be estimated.Strävan efter att öka sin befolkning är en självklarhet för många kommuner. Syftet med denna uppsats är att visa en metod för kommuner, som genom att öka förståelsen av marknadens preferenser, gör dem mer konkurrenskraftiga. Marknadsanalyser för fastigheter har främst varit ett redskap för byggherrar för att beräkna lönsamheten innan en investering. Trots att metoden har många användningsområden är metoden inte känd i någon större utsträckning bland kommuner i Sverige. Om kommuner genomför marknadsanalyser av nya utvecklingsområden innan planeringsarbetet får de inte bara information om efterfrågans storlek, men även målgrupp, vilka faktorer som avgör i kundernas beslutsfattande och kundernas preferenser. Med denna information kan utformningen av området anpassas till att bäst passa målgruppen och kommunen kan öka sin konkurrenskraft. Detta examensarbete innehåller en fallstudie av utvecklingsområdet Norra Arnö i Nyköpings kommun för att demonstrera hur en marknadsanalys nivå D tillämpas. För att ta reda på kundupplevelsen kring utformningen av Norra Arnö genomfördes en attitydundersökning med frågor inom de dimensioner som har en påverkan på beslutsfattandet i boendevalet. Dessa dimensioner är tilltalande bostadsprojekt, trivsam boendemiljö, tilltalande bostadshus, helhetsintryck, intention, kommunikationer och prisvärdhet. De totalt 229 respondenterna fick i slutet svara på om de hade en intention att köpa en lägenhet på Norra Arnö, där 21 personer svarade ja. Svaren analyserades sedan med analysmetoderna explorativ faktoranalys och strukturell ekvationsmodellering. Det gjorde det möjligt att jämföra grupper (exempelvis barnfamiljer, åldrar, kön m.m.) med de olika dimensionerna för att förstå vad det är som påverkar intentionen att köpa en lägenhet. Undersökningen visade att unga (under 29 år) får ett bättre helhetsintryck av projektet och påvisar en större intention att bo i ett bostadsprojekt som liknar den på Norra Arnö. Det är även lägre inkomstgrupper (hushåll med en inkomst under 399 000 kr/år) och de som har för avsikt att flytta inom 5 år som har en intention att bo i ett bostadsprojekt som liknar Norra Arnö. Åldersgruppen 30-44, barnfamiljer, Nyköpingsbor samt boende i småhus var mer positivt inställda till dimensionen kommunikationer, vilket innebär att de i högre grad anser att Nyköping är en bra stad att bo i där de enkelt kan nå sina vänner, arbete och fritidsintressen. Generellt hade dimensionen kommunikationer störst betydelse för de skillnader som uppvisades i undersökningen och är därför en ledtråd till vad som har stor påverkan på efterfrågan av projektet. Det var 21 personer som hade en intention att faktiskt köpa en lägenhet på Norra Arnö, en för låg siffra för att analysera iv vilka faktorer som påverkade mest i deras syn på projektet. Av 229 svarande var 40 personer från Oxelösund, vilket innebär att det var för låg antal personer från det sekundära marknadsområdet för att med säkerhet skatta efterfrågan med stratifierat urval. Dock hade 10 % av de svaranden en intention att köpa en lägenhet på Norra Arnö, och med tanke på att endast ett sekundärt marknadsområde undersöktes kan man anta att efterfråga finns för området trots att en siffra inte kan bestämmas.
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Ševčík, Marek. "Metodologie segmentace realitního trhu pro oceňovací proces." Master's thesis, Vysoké učení technické v Brně. Ústav soudního inženýrství, 2016. http://www.nusl.cz/ntk/nusl-241348.
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This thesis deals with the methods of the real estate market segmentation in relation to the valuation process. Following the application part, which is an analysis of the real estate market in the city of Brno. On its basis procedures, that can help the expert with dividing real estate market into individual segments, are described. And also gives recommendations on how to deal with the information obtained.
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Kohl, Nicolas. "Corporate governance and market valuation of publicly traded real estate companies a theoretical and empirical analysis." Köln Immobilien-Manager-Verl, 2008. http://d-nb.info/992333261/04.
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Clayton, Paul B. S. M. Massachusetts Institute of Technology. "The point of Corumbau : a case study in emerging market (Brazil) real estate development feasibility analysis." Thesis, Massachusetts Institute of Technology, 2007. http://hdl.handle.net/1721.1/42014.
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Thesis (S.M. in Real Estate Development)--Massachusetts Institute of Technology, Dept. of Urban Studies and Planning, 2007.This electronic version was submitted by the student author. The certified thesis is available in the Institute Archives and Special Collections.
Includes bibliographical references (p. 135-144).
In 2003, Renata Oliveira, a young Portuguese architect, has re-discovered the Point of Corumbau in Bahia, Brazil, and, like the Portuguese adventurers who had discovered Brazil 500 years earlier in the same location, found it to be an area that is wild, beautiful and undeveloped. It is also sitting right at the edge of perhaps the most promising resort and second home real estate market in the world: the Northeast coast of Brazil. The case challenges students to conduct market and project feasibility analysis in an emerging market environment, with data and contextual information supplied in the case. It considers the effectiveness of such analysis, and raises questions about the usefulness of time-series data in markets that are changing in fundamental ways, the importance of macro- and international economics in weighing real estate investments, the methods available for evaluating emerging market risk, the challenges of managing development and construction in a foreign environment, and the role, if any, for a developer's personal vision in the value creation system. Part II of the case allows students to re-consider these questions in the light of subsequent events. At the same time, the case examines two of the most exciting real estate markets in the world today: Southeastern Brazil's urban housing market, and the resort and vacation home market of the coastal Northeast.
by Paul B. Clayton.
S.M.in Real Estate Development
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Suk, Ondřej. "Analýza faktorů ovlivňujících cenu nemovitostí." Master's thesis, Vysoké učení technické v Brně. Ústav soudního inženýrství, 2019. http://www.nusl.cz/ntk/nusl-401084.
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The objective of the thesis Analysis of factors affecting real estate prices is to analyze selected aspects that somehow affects the price of real estate. The aim is to compare the impact of these factors on the market price of the selected type of property. The first part of the thesis defines theoretical bases and terms that relate to the real estate market. Furthermore, there are described the subjects of the real estate market and factors that influence the market and real estate prices. The most frequently used methods of real estate valuation are also described in the theoretical part. The practical part deals with the analysis of selected factors that affect the market price of the property. The analysis compares the prices of apartments in the three regional cities of the Czech Republic and then examines the differences in the average prices of these apartments and the degree of influence of selected factors causing differences in the prices.
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Viktorová, Stanislava. "Aplikace prostorových analýz pomocí technologie GIS pro účely trhu s nemovitostmi." Master's thesis, Vysoké učení technické v Brně. Ústav soudního inženýrství, 2012. http://www.nusl.cz/ntk/nusl-232614.
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The master's thesis deals with possibilities for using of spatial analyses for purposes of the real estate market in using geographic information system. The focus of this thesis is on the issues for the search of appropriate documents for project development in GIS and data processing. For the definition of functional spatial analyses are followed criteria of the property location, building location, transportation accessibility, availability of services, physical and geographical parameters, positive and negative effects of the environment, restrictions on use. GIS project is presented as an interactive map containing the input data and the individual spatial analyses which describe the analyzed factors or criteria affecting the real estate market. The results of analyses represent the advantage possibilities of using GIS for dealing with appropriate of practical use for the purpose of the real estate market.
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Ji, Yiping. "Strategy Analysis of Real Estate Company Property Development in Medium Size City in China." Thesis, KTH, Bygg- och fastighetsekonomi, 2011. http://urn.kb.se/resolve?urn=urn:nbn:se:kth:diva-48750.
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Real estate industry is a new economic growth point and main industry in Chinese gross domestic product nowadays. This paper analyzes the trend of Chinese real estate market development to help investors to understand the current situation of Chinese real estate markets and policies better, so as to make better real estate investment decisions in China in the future. Because of oversaturated with investment and higher cost of investment there are more and more limitations in investing in big cities in China. With the rapid development of the economy, the huge inner demand of real estate is increasing in medium and small sized cities. Some investigations show that there are huge spaces of the appreciation in Chinese real estate market in medium and small sized cities. The author will describe and analyze the investment strategy and development of Fuxing Huiyu Real Estate Corporation as a case study. The demonstrated company is a public company with rapid growth in a medium sized city named Wuhan in the central part of China. Other investment companies or real estate companies could get some ideas by analyzing the development and decision making process of this company.
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Carlsson, Frida, and Malin Strömberg. "Is there a Real Estate Portfolio Premium? : An Empirical Analysis of Portfolio Premiums." Thesis, KTH, Fastigheter och byggande, 2021. http://urn.kb.se/resolve?urn=urn:nbn:se:kth:diva-298065.
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This thesis aims to explore if the existence of portfolio price premiums can be verified and if they differ in time and over property segments. The purpose is to contribute with valuable insights within the field of portfolio premiums in the real estate industry. In order to explore this further a regression model was developed. The model includes six portfolio variables controlling for size in the aspect of transactional value and number of properties included in the portfolio. We further test if the premium varies over property segments and over time. The data was provided by Cushman & Wakefield and consists of 825 property transactions. The results show that a portfolio premium for small, medium and large portfolios with a transactional value over 500 million SEK, and a discount on small portfolios with a transactional value below 500 million SEK is present. The premium was found to be 17.5% for small portfolios, 16.8% for medium sized and 26.3% for large portfolios. While premiums were found for portfolios with a transactional value over 500 million SEK an 13.7% discount was found for small portfolios with a transaction value below 500 million SEK. Which indicates that investors are willing to pay a premium, but only for larger portfolios. Furthermore, the only segment test with significant results were residential and industrial of which residential indicated a discount on small and medium portfolios with a transactional value over 500 million SEK and industrial indicated a discount on small portfolios with a transactional value over 500 million SEK. The test of variation of a portfolio premium over time gave mixed results and showed that investors payed a premium for medium and large portfolios with a transactional value over 500 million SEK during 2010 - 2015.Detta masterarbete syftar till att undersöka fenomenet portföljpremier och bidra till utökad kunskap om premier och möjliga förklaringar till varför de uppkommer. Författarna har undersökt om det går att kvantifiera den påstådda portföljpremien och om denna skiljer sig över fastighetsegmenten och tid. Syftet med arbete är att bidrag med värdefulla insikter och kunskap om portföljpremier inom fastighetsbranschen. För att kunna besvara frågeställningen utvecklade författarna en regressionsmodell. Modellen innehöll sex portföljvariabler som bland annat kontrollerade för storlek i förhållande till transaktionsvärde samt antal fastigheter inkluderade i portföljen. För att undersöka om premien varierade över fastighetssegment och med tid utfördes fem olika segmentstest och två års tester. Data som användes i regressionerna tillhandahölls av Cushman & Wakefield. Resultatet av studien visar att det finns en portföljpremie på små, medelstora och stora fastighetsportföljer med ett transaktionsvärde över 500 millioner kronor. Premien noterades till 17,5% för små portföljer, 16,8% för medelstora portföljer och 26,3% för stora portföljer. Medans en premie noterades för portföljer med ett transaktionsvärde över 500 millioner kronor kunde en rabatt om 13,7% hittas för små portföljer med etttransaktionsvärde under 500 millioner kronor. Segmenttesten som genomfördes gav blandade resultat. De test som gav signifikanta resultat var segmentstest för industri och bostäder. Resultatet av regressionen visade att det finns en rabatt för små och medelstora bostadsportföljer med ett transaktionsvärde överstigande 500 millioner kronor samt en rabatt för små industriportföljer med ett transaktionsvärde över 500 millioner kronor. Utöver segmentstesten gjordes även två tester där författarna testade om premien varierade över tid. Likaså här gav testerna blandade resultat. Det kan konstateras att en premie återfinns för portföljer handlade under perioden 2010 - 2015.
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Fife, Allan Anthony. "A comparative assessment of the factors influencing the valuation and market pricing of fractional interests in real estate /." View thesis, 2001. http://library.uws.edu.au/adt-NUWS/public/adt-NUWS20030704.111824/index.html.
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Svobodová, Petra. "Analýza nabídkových cen nemovitostí ve vybrané lokalitě." Master's thesis, Vysoké učení technické v Brně. Fakulta stavební, 2020. http://www.nusl.cz/ntk/nusl-409907.
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The diploma thesis deals with the average offer prices of real estate in the area of Brno. The thesis is divided into two main parts. The first theoretical part introduces the real estate market in the Czech Republic, factors influencing the price of real estate and there are briefly described valuation methods. The last chapter of the theoretical part deals with the types of real estate. The second part of the thesis is a case study. The average offer prices of real estate by types in forty municipalities in the Brno-venkov district were analyzed. The analysis was based on four criteria that affect the price. The average bid price was determined for each type of property.
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Kempf, Simon P. "The office property market of Hong Kong: an econometric analysis." Thesis, The University of Hong Kong (Pokfulam, Hong Kong), 2004. http://hub.hku.hk/bib/B2963166X.
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ROWE, JASON. "IF WE BUILD IT, WILL THEY COME? AN ANALYSIS OF THE POTENTIAL FOR NEW RETAIL DEVELOPMENT IN UPTOWN CINCINNATI." University of Cincinnati / OhioLINK, 2006. http://rave.ohiolink.edu/etdc/view?acc_num=ucin1148303691.
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Sapkota, Manish. "Trend Analysis of Nepalese Banks from 2005-2010." ScholarWorks@UNO, 2012. http://scholarworks.uno.edu/honors_theses/19.
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The purpose of this paper is to examine the banking industry of Nepal from 2005 to 2010 to track the causes of banking crisis of 2011 using theories of macro-economics and finance as a conceptual starting point. In 2011, several commercial and development banks faced severe liquidity crisis that caused panic in the general public. Banks lost large amount of money in their loan and investment portfolios, which compelled the Government of Nepal to inject liquidity in the market. In the recent past years leading to the banking crisis of 2011, there was rapid change in the size and activity of banking industry. This paper analyzes changes that occurred in the financial market in the period of 2005 to 2010 that triggered the banking crisis. The roles of remittance, credit expansion and asset bubble have been analyzed in terms of their connection to the liquidity crisis.
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Opatovská, Lucia. "Analýza způsobů financování bydlení." Master's thesis, Vysoké učení technické v Brně. Ústav soudního inženýrství, 2017. http://www.nusl.cz/ntk/nusl-318560.
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The topic of this diploma thesis is The Analysis of Ways of Financing Housing. The thesis consists of two parts: theoretical and practical. In the theoretical part of the thesis, I define and characterize the development of the real estate market in Slovakia. I also describe the ways of valuing real estate and the possibilities of financing real estate, whether it is financed by one’s own funds or external sources. In the practical part of the thesis, I deal with valuation of real estate using the comparative method used in Slovakia. The last part looks at financing with mortgages and the creation of value analysis.
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Fife, Allan, University of Western Sydney, College of Law and Business, and of Construction Property and Planning School. "A comparative assessment of the factors influencing the valuation and market pricing of fractional interests in real estate." THESIS_CLAB_CPP_Fife_A.xml, 2001. http://handle.uws.edu.au:8081/1959.7/509.
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As the relative capital value of major real estate investment grows, and investment risk continues to centralise, the requirement to diversify this risk through shared ownership has increased. This international trend toward increased co-ownership has been manifested in cross border collaborations and, with this sharing of risks has come the dilemma of preserving the operational integrity of these assets and the capital value of the fractional interests created. This thesis considers the process of valuation of fractional interests, examining the methods employed in both the real estate and securities investment communities, and it identifies the shortcomings of the current unstructured approach to the problem. It reveals the impact of improperly structured agreements between co-owners on the value of their interests and illustrates the enormity of this in terms of the Australian publicly traded real estate securities sector. This thesis concludes that the current deficiencies in fractional interest valuation methodologies can be effectively addressed through the adoption, by professional real estate valuers, of a common approach to the investigation of the factors influencing the value of fractional interests and the terms of agreements which underlie these interestsDoctor of Philosophy (PhD)
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Simmons, Susan M. (Susan Marie) 1970. "Analysis of the 1966 Summer Olympic Games on real estate markets in Atlanta." Thesis, Massachusetts Institute of Technology, 2000. http://hdl.handle.net/1721.1/32197.
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Thesis (S.M.)--Massachusetts Institute of Technology, Dept. of Urban Studies and Planning, 2000.Includes bibliographical references (leaves 106-112).
Among all sporting events, the Summer Olympic Games are the most watched event around the globe. Global participation, diversity of events and sheer athletic skill attract billions of viewers to the seventeen-day summer event. The increasing interest in the Games has only served to promote greater commercialism for the event; and for the host city, greater opportunities to showcase itself to future business and leisure travelers. The recent bribery scandal involving the Salt Lake City, Utah bid committee demonstrates the lengths at which some cities have gone to win an Olympic host bid. In contrast with the situation over twenty years ago where the City of Los Angeles was the only bidder for the 1984 Games, sixty-six cities expressed their interest in hosting the 2008 Summer Games. Why is there such intense interest in winning a bid to host the Olympic Games? What are the real payoffs from hosting this event? Do the benefits outweigh the tremendous costs for the host city? Does the significant one-time investment produce long-term economic gains? This study does not attempt to answer all of these questions at this time. Instead, the focus of this study is to understand how these questions apply to one particular host city, the City of Atlanta, Georgia, host of the 1996 Summer Olympic Games. In particular, this study measures the long-term impacts on real estate markets in Atlanta through both quantitative analysis of economic variables and qualitative analysis of the physical, organizational and psychological impacts. In contrast with the two previous host cities, Barcelona and Seoul, that spent many billions of public and private (but mostly public) dollars transforming their city in preparation for the Games, Atlanta relied upon primarily private funds to prepare for the 1996 Games. Public funds were spent for some important infrastructure improvements, but these investments would have likely taken place at some future point without the Games. Even so, within a five year period, more than $2 to 3 billion was spent to prepare Atlanta for the Games. This study determines that this Olympic investment had minimal impact on the fast-growing regional market. In most cases, the Olympics were no more significant than other factors, such as corporate expansion and relocation, in contributing to long-term economic growth. In the local in-town markets, the Olympics did meaningfully contribute to growth in the multi-family sector. In addition to new and renovated sports facilities, the Olympics left downtown Atlanta with many notable legacies that are fueling urban growth and revitalization: a new 21 acre park, renovated parks and public plazas, new street lighting, tree plantings, and other streetscape improvements, 9000 units of student housing, and thousands of new residents living in converted buildings downtown. The Olympics may not have transformed Atlanta to the extent they did in Barcelona and areas of Seoul; however, it certainly proved to be a catalyst for many important changes in the city today.
by Susan M. Simmons.
S.M.
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Fiore, John Joseph 1970. "Retail sales and retail real estate : an economic analysis of the trends in neighborhood and community shopping center market." Thesis, Massachusetts Institute of Technology, 1998. http://hdl.handle.net/1721.1/9607.
Full textAbstract:
Thesis (S.M.)--Massachusetts Institute of Technology, Dept. of Architecture, 1998.Includes bibliographical references.
An economic analysis was carried out to determine trends and patterns in the neighborhood and community shopping center market. Economic analysis was performed to determine whether the current retail market is overbuilt. This analysis was based on sales performance of goods common to shopping centers, income per square foot performance of shopping center Real Estate Investment Trusts, and the movement of national sales as a share of personal income. The results from a sales per square foot test of the retail market revealed that the relationship of sales per square foot is declining. Upon further analysis, the changes in sales per square foot over the changes in square footage reveal an inconsistency with the conclusion and that the retail market may not be overbuilt. Further, a sample of shopping center Real Estate Investment Trusts reveal that they are currently outperforming their respective markets on an income per square foot basis. Finally, results from the national sales as a percentage of personal income test conclude that purchases as a share of personal income have fallen more slowly in recent years.
by John Joseph Fiore.
S.M.