scholarly journals Optimization of the variables selection in the process of real estate markets rating

2015 ◽  
Vol 6 (4) ◽  
pp. 139 ◽  
Author(s):  
Małgorzata Renigier-Biłozor ◽  
Andrzej Biłozor
Keyword(s):  
Decision Making ◽  
Real Estate ◽  
Real Estate Market ◽  
Market Potential ◽  
Coherent System ◽  
Essential Information ◽  
Real Estate Markets ◽  
The Real ◽  
The Real Estate ◽  
The Real Estate Market

The growing significance of the real estate market prompts investors to search for factors and variables which support cohesive analyses of real estate markets, market comparisons based on diverse criteria and determination of market potential. The specificity of the real estate market is determined by the unique attributes of property. The Authors assume that developing real estate market ratings identifies the types of information and factors which affect decision-making on real estate markets. The main objective of  real estate market ratings is to create a universal and standardized classification system for evaluating the real estate market. One of the most important problems in this area is collecting appropriate features of real estate market and development dataset. The main problem involves the selection and application of appropriate features, which would be relevant to the specificity of information related to the real estate market and create a kind of coherent system aiding the decision-making process. The main aim of this study is the optimization of  set of variables that were used to develop the real estate market ratings.  For this purpose, Hellwig’s method of integral capacity of information was applied. In this particular case, the method shows what set of variables provides information most sufficiently. The results lead to obtaining the necessary set of features that constitute essential information which describes the situation on the local real estate market.

scholarly journals RATING ATTRIBUTES TOOLKIT FOR THE RESIDENTIAL PROPERTY MARKET

2017 ◽  
Vol 21 (3) ◽  
pp. 307-317 ◽  
Author(s):  
Malgorzata RENIGIER-BILOZOR ◽  
Radoslaw WISNIEWSKI ◽  
Andrzej BILOZOR
Keyword(s):  
Decision Making ◽  
Real Estate ◽  
Real Estate Market ◽  
Market Potential ◽  
Coherent System ◽  
Essential Information ◽  
Real Estate Markets ◽  
The Real ◽  
The Real Estate ◽  
The Real Estate Market

The growing significance of the real estate market prompts investors to search for factors and variables which support cohesive analyses of real estate markets, market comparisons based on diverse criteria and determination of market potential. The specificity of the real estate market is determined by the unique attributes of property. The authors assumed that developing real estate market ratings identifies the types of information and factors which affect decision-making on real estate markets. The main objective of real estate market ratings is to create a universal and standardized classification system for evaluating the real estate market. One from the most important problem in this area is collection of appropriate features of real estate market and development dataset. The main problem involves the selection and application of appropriate features, which would be relevant to the specificity of information related to the real estate market and create a kind of coherent system aiding the decision-making process. The main aim of this study is to elaboration set of variables (knowledge platform) that were used to elaborate the real estate market ratings. The results lead to obtain the necessary set of features that constitute essential information which describes the situation on the local real estate market.

scholarly journals RATING METHODOLOGY FOR REAL ESTATE MARKETS – POLAND CASE STUDY

2014 ◽  
Vol 18 (2) ◽  
pp. 198-212 ◽  
Author(s):  
Malgorzata Renigier-Biłozor ◽  
Radoslaw Wisniewski ◽  
Arturas Kaklauskas ◽  
Andrzej Biłozor
Keyword(s):  
Decision Making ◽  
Real Estate ◽  
National Economy ◽  
Real Estate Market ◽  
Market Potential ◽  
Real Estate Markets ◽  
The Real ◽  
The Real Estate ◽  
Local Character ◽  
The Real Estate Market

The development of the real estate market is conditioned by a variety of endogenous and exogenous factors. Selected factors determine the local character of the real estate market, whereas others contribute to its classification as one of the main branches of the national economy. Rapid economic growth and the search for new investment opportunities have turned the real estate market into a highly competitive arena where various players carry out diverse investment strategies. Investors search for similarities that would enable them to develop risk minimizing strategies. Ratings are a modern tool that can be deployed in analyses and predictions of real estate market potential. This paper proposes a methodology for developing real estate market ratings, and it identifies the types of information and factors which affect decision-making on real estate markets. The following research hypotheses are formulated and tested in the article: 1) a real estate market can be rated in view of its significance for the local and national economy, 2) real estate market ratings support market participants in the decision-making process.

scholarly journals Methodology for making decisions in managing commercial real estate

2021 ◽  
Vol 244 ◽  
pp. 11013
Author(s):  
Denis Smirnov ◽  
Irina Alpackaya ◽  
Taisiya Ryabova ◽  
Valery Gusev
Keyword(s):  
Decision Making ◽  
Real Estate ◽  
Real Estate Market ◽  
Commercial Real Estate ◽  
The Real ◽  
The Real Estate ◽  
Theoretical Approaches ◽  
Current Trends ◽  
The Real Estate Market ◽  
Methodological Principles

The purpose of this paper is to develop guidelines for the formation and implementation of a decision-making mechanism for managing commercial real estate. As a result of the study, the current trends in the development of the real estate market are revealed, the methods and established practice of the activities of management companies are analyzed, the analysis of theoretical approaches to the management of commercial real estate is carried out. On the basis of theoretical and methodological principles and the specifics of the analyzed area of research, methodological recommendations are proposed for the formation of a mechanism for managing commercial real estate, including a method for assessing their investment attractiveness.

scholarly journals Development of risk-oriented approach to assessing the client during financial monitoring on the real estate market

2019 ◽  
Vol 17 (1) ◽  
pp. 63-72 ◽  
Author(s):  
Nataliya Vnukova ◽  
Daria Davidenko
Keyword(s):  
Risk Assessment ◽  
Decision Making ◽  
High Risk ◽  
Real Estate ◽  
Real Estate Market ◽  
The Real ◽  
The Real Estate ◽  
The Real Estate Market ◽  
Financial Monitoring ◽  
Oriented Approach

The system of financial monitoring establishes specifically designated entities on the real estate market. The assessment of a client’s risk of money laundering when entering into agreements in this market is a complex task and requires the development of new tools for implementing the risk-oriented approach, which is a priority in accordance with international standards in the financial monitoring system. The purpose of the study is to develop a risk-oriented approach to assessing the client and to develop practical recommendations for determining its level of risk in financial monitoring in the real estate market. To achieve a specific goal, a system of general scientific and special research methods, expert rankings and optimization modeling are used. On the basis of Methodical materials on financial monitoring issues for business entities, which provide services in the course of real estate purchase and sale operations, the points of client’s correspondence to high risk, which corresponds to the concept of developing a risk-oriented approach based on the main criteria of client risk assessment: geographic location of the state, client type and business relations. Taking into account the complexity of such assessment and the necessity of operative decision-making, a risk assessment rating (cost) scale has been developed for an integrated automated determination of a client’s risk level and an assessment of high-risk clients in the Decision Making Helper decision-making support system software on specific examples of legislation violations concerning the financial monitoring on the real estate market. The feasibility of implementing a new risk-oriented approach to assessing high-risk clients has been proved by automating the process of determining its level to reduce the time to decide on prevention and counteraction to the legalization of incomes and money laundering.

scholarly journals Compensation in Residential Real Estate Purchasers’ Decisions

2016 ◽  
Vol 24 (4) ◽  
pp. 70-78 ◽  
Author(s):  
Alina Źróbek-Różańska
Keyword(s):  
Decision Making ◽  
Real Estate ◽  
Age Groups ◽  
Real Estate Market ◽  
Single Family ◽  
Residential Real Estate ◽  
The Real ◽  
The Real Estate ◽  
Compensation Process ◽  
The Real Estate Market

Abstract Predicting demand on the residential real estate market and the behavior of the purchasers requires a wide knowledge of both the economic mechanisms and psychology of decision-making. Decisions on the real estate market are often made by people without professional skills, and using simplified strategies. However, the decision-making process, on top of its heuristic nature, is dynamic and changing. As a result, a discrepancy in the preferred characteristics of planned and actually bought real estate can be observed. Such a discrepancy can be explained with the occurrence of the compensation process. The aim of this article was to recognize and describe the compensation process on the example of the suburban residential real estate market. The aim was achieved by analyzing the preferences of potential buyers in terms of particular characteristics of the location of suburban plots destined for single-family housing (respondents divided into age groups: 25 and 26-40), analyzing the real settlement trend in the suburban zone (the result of actual transactions) and comparing the results, including compensation.

Die Macht der Zahlen

2015 ◽  
Vol 59 (1) ◽  
Author(s):  
Nadine Bitterer ◽  
Susanne Heeg
Keyword(s):  
Real Estate ◽  
Real Estate Market ◽  
Real Estate Industry ◽  
Property Market ◽  
Real Estate Markets ◽  
The Real ◽  
The Real Estate ◽  
Local Characteristics ◽  
The Real Estate Market ◽  
Calculative Practices

The power of figures. Calculative practices in the real estate industry. This article examines the role and importance of calculative practices in the process of establishing a global property market. We argue that these practices have contributed to the transformation of the property market into a calculable relation which makes it possible to perceive and assess the real estate market and its objects internationally. Comparability - which includes the transformation of social, political and economic conditions into numbers - has created the context in which investment decisions take place because they suggest transparency and calculability. These practices are created and shared in a network of global real estate professionals and go along with strategies of territorializing and delineating markets. Yet, as we will argue, some local characteristics prove to be persistent and difficult to handle in global calculations. Thus, assessing global real estate markets still implies the challenge to combine local knowledge and global calculation.

scholarly journals Trust in a viable real estate economy with disruption and blockchain

Facilities ◽  
2018 ◽  
Vol 36 (1/2) ◽  
pp. 103-120 ◽  
Author(s):  
Jan Veuger
Keyword(s):  
Real Estate ◽  
Value Chain ◽  
Social Impact ◽  
Real Estate Market ◽  
Content Type ◽  
Real Estate Markets ◽  
The Real ◽  
The Real Estate ◽  
The Real Estate Market ◽  
The Impact

Purpose The real estate world finds itself at a tipping point of a transition: a dramatic and irreversible shift in (real estate) systems in society. This paper is a State of the art of Disruption, Blockchain and Real Estate in the Netherlands and international. Design/methodology/approach The following questions were asked to all those involved: What do you think is the essence of Blockchain for real estate? What is the most current situation with respect to Blockchain and real estate from your perspective? Which publications are important from your perspective? What do you expect with respect to the impact of Blockchain on real estate for (social) real estate? What are questions for the future for real estate and Blockchain? In addition, interviews, exploratory conversations and correspondence took place, and the content was peer reviewed. Findings Changes in value concepts affect the valuation of real estate and the thinking about it. The orientation of changing users and owners of real estate affects innovativeness, values and flexibility in managing that property. Orientation on disruption must be seen as proof that the real estate world is able to actually innovate the accumulated assets and consolidate this. The financial and real estate markets are markets that exaggerate through irrational behaviour. Fear of “eat or be eaten” determines people’s behaviour. Financial and thus real estate markets are always unstable and must always be regulated by people and organizations. Research limitations/implications The question that remains is whether it is important to look at disruptive innovations in existing markets or newcomers in the real estate market and Blockchain. The question is whether Blockchain is only a technological disruption, or a real game changer, and whether the entire value chain of the real estate market will embrace it. No two disruptions are the same. Trust in Blockchain is a prerequisite for guiding the predictable form of that disruption where start-up companies use new technology to offer cheaper and inferior alternatives to real estate in the market. You could also talk about anti-fragile value: “Some things benefit from shocks; they thrive and grow when exposed to volatility, randomness, disorder, and stressors and love adventure, risk, and uncertainty. Yet, in spite of the ubiquity of the phenomenon, there is no word for the exact opposite of fragile. Let us call it antifragile” (Taleb, 2012), in other words: attention to disruption and Blockchain creates a viable real estate economy. Practical implications The true meaning of the Blockchain technology for real estate still needs to be investigated. The author is still curious to understand and clarify the value of Blockchain for real estate processes. Doubt continues to exist and is therefore a feeding ground for further research, because we do not know what we have not seen. Social implications Looking at the impact of Blockchain on real estate, a number of conclusions can be drawn. First of all, the relationship between Blockchain and real estate has not yet been proven in practice. It is expected to develop further in the form of registering transaction processes and the DNA passport of a real estate object. Secondly, completeness and transparency are the basic ingredients for trust in the system. Third, real estate wants to remain viable. For this reason, taking the offense is necessary for real estate and management to connect with social demand. Behaviour also leads to new earnings models of the social and economic spin-off of disruptive real estate. If the Dutch real estate sector embraces Blockchain and is able to realize innovations, there are opportunities for real estate entrepreneurs to exploit the disruptive character to provide those new services. Originality/value The way in which disruption, Blockchain and real estate will develop in the coming years are not the only obvious characteristics of a particular era but also its social impact and user behaviour. This also applies to how this real estate transition can best be tracked, guided and utilized in society at the international, national and regional level. Disruptive organizations clearly respond to the viability of the (built) environment and therefore determine competitive strength. This affects the current and future valuation of real estate.

scholarly journals GLOBAL FACTORS THAT AFFECT THE REAL ESTATE MARKETS IN THE EU / GLOBALIZACIJOS PROCESŲ ĮTAKA EUROPOS SĄJUNGOS NEKILNOJAMOJO TURTO RINKOMS

2016 ◽  
Vol 8 (2) ◽  
pp. 221-229
Author(s):  
Povilas Švogžlys ◽  
Eugenijus Chlivickas
Keyword(s):  
Real Estate ◽  
Real Estate Market ◽  
The European Union ◽  
Real Estate Markets ◽  
The Real ◽  
The Real Estate ◽  
The Real Estate Market ◽  
Current Events ◽  
Main Factors ◽  
The Eu

The place, neighbourhood, infrastructure, and apartment plan are the main factors which have an influence on price for the buyers, sellers, investors, or brokers participating in the buying and selling processes of real estate. Participants of the process forget frequently that there are more crucial factors which can affect not only the prices of property, but the prices of real estate in the whole region as well in the future. The article uses benchmarking and discuss the main external factors which affect the real estate market in the European Union, the current events and the proposals are presented and the specific conclusions are identified. Pirkėjai, pardavėjai, investuotojai ar tarpininkai, dalyvaujantys nekilnojamojo turto pirkimo-pardavimo procesuose, esminiais faktoriais, veikiančiais kainą, dažniausiai laiko vietą, kaimynystę, infrastruktūrą bei buto planą. Dažnas proceso dalyvis užmiršta, jog yra nemažai esminių veiksnių, kurie ateityje gali nulemti ne tik būsto, bet ir viso regiono nekilnojamojo turto kainas. Straipsnyje pasitelkiant lyginamąją analizę yra aptariami pagrindiniai nekilnojamojo turto rinką visoje Europos Sąjungoje veikiantys išoriniai faktoriai, šių dienų aktualijos, pateikiami siūlymai bei iškeliamos konkrečios išvados.

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