Spectral Analysis of Real Estate and Financial Assets Markets

1997 ◽  
2011 ◽  
Vol 368-373 ◽  
pp. 3078-3082
Author(s):  
Zhou Ji Meng ◽  
Tao Zhou ◽  
Shu Hua Gao

In the passage, the indicators of supply and demand of real estate market in Xi'an are established, and such indicators are synthesized into a class of synthetic indicators using “principal component analysis”. After the spectral analysis of synthetic indicators, periodic change of supply and demand of real estate through spectral density could be determined. Through the analysis, great randomness existed in supply and demand of real estate in Xi’an. Furthermore, in the medium term, a 3.3 years’ secondary cycle still existed in synthetic indicators of demand, while randomness existed in synthetic indicators of supply. Such findings suggest a declined trend existed in real estate price in medium term of Xi’an.


2008 ◽  
Vol 25 (4) ◽  
pp. 267-278 ◽  
Author(s):  
Abeyratna Gunasekarage ◽  
David M. Power ◽  
Ting Ting Zhou

1980 ◽  
Vol 7 (1) ◽  
pp. 20-24 ◽  
Author(s):  
Thomas J. Coyne ◽  
Waldemar M. Goulet ◽  
Mario J. Picconi

2016 ◽  
Vol 52 (04) ◽  
pp. 1640002 ◽  
Author(s):  
THIERRY THEURILLAT ◽  
JAMES H. LENZER ◽  
HONGYU ZHAN

This paper provides a heuristic framework to address issues about China’s ongoing urbanization in relation to the role of land and built environment as triggers for economic growth and to the increasing financialization of urban production. While a dominant field of literature highlights the interrelation between land and capital within a specific institutional setting between Central and local governments, it argues to include other key linkages between infrastructures, property development and finance to understand China’s recent exponential urban growth. It first places the current consequent local governments’ debt into perspective along with the evolution of financial circuits for urban infrastructures resulting from Central Government policy and regulation changes. Next, and in line with the real estate literature that highlights the key role of demand, it develops an original understanding of the financialization of urban production from the perspective of China’s property industry. Besides the role of homeownership policies since 1998 which boosted urban production based on use value, various ways of the transformation of property into financial assets have occurred. Chinese households as the main investors have not only been able to directly invest in housing and in non-housing by purchasing flats or commercial property but indirectly by increasing investments in special purpose vehicles such as trust-bank and funds finance and new kinds of investment platforms. In both cases, Central Government macropolicies, both stimulating and restricting from 2008–2016, have gone in hand with increasing financialization processes for local governments’ debt, urban infrastructure financing and real estate.


Author(s):  
ياسر عبد الله عمر ◽  
حبيب الله زكريا

أصبحت المحافظ الاستثمارية من الأدوات المهمة في عصرنا الحاضر، وذلك لكثرة توجه الناس إليها لاستثمار أموالهم من خلالها، ولما تحمله من رؤوس أموال ضخمة. وتهدف هذه الورقة إلى بيان المسائل الفقهية المتعلقة بكيفية إخراج زكاة المحافظ الاستثمارية. وقد تناولت هذه الورقة زكاة محفظة الأصول المالية المكونة من أسهم وسندات وعملات، وكذلك ما يتعلق بمحفظة الأصول العينية من سلعٍ وعقارات ومعادن. أما المنهج المتبع في هذه الورقة فهو المنهج الاستنباطي والمنهج التحليلي وذلك بالاعتماد على المصادر الثانوية للبحث العلمي من خلال مراجعة التراث الفقهي وتحليل ما ذُكر من أقوال فقهية في كيفية إخراج زكاة المحافظ الاستثمارية. كما اعتمدت الورقة على القرارات الفقهية الصادرة عن المجمع الفقهي الإسلامي التابع لرابطة العالم الإسلامي، ومعايير هيئة المحاسبة والمراجعة للمؤسسات المالية الإسلامية AAOIFI)). وخلصت الدراسة إلى أن المحافظ الاستثمارية تجب فيها الزكاة بحسب صافي الموجودات الزكوية فيها. وتوصي هذه الورقة مؤسسات الزكاة والهيئات المختصة للعمل في تفعيل دور الزكاة في جميع القطاعات الاستثمارية، كما توصي الورقة بمواصلة الدراسات الشرعية المتخصصة خاصةً من قبل الهيئات العلمية والمجامع الفقهية في مجال الاستثمارات الحديثة وتأصيلها وربطها بالتراث الفقهي. الكلمات المفتاحية: الزكاة، المحافظ الاستثمارية، الشريعة الإسلامية. Abstract Investment portfolios have become one of the important investment tools in modern society, due to the large number of people turning to them to invest their money through them, and because of the huge capital, they carry. This paper aims to explain the jurisprudential issues related to how to pay zakat on investment portfolios. This paper dealt with zakat in the financial assets’ portfolio consisting of stocks, bonds, and currencies, as well as what is related to the in-kind assets’ portfolio of commodities, real estate, and metals. As for the approach used in this paper, it is the deductive approach and the analytical method by relying on secondary sources of scientific research by reviewing the jurisprudential heritage and analyzing the aforementioned jurisprudential sayings on how to pay zakat for investment portfolios. However, the paper also relied on the decisions issued by the Islamic Fiqh Academy of the Muslim World League, and the standards of the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI). Moreover, the study concluded that investment portfolios are subject to zakat according to the net zakat assets therein. Therefore, this paper recommends zakat institutions and specialized bodies to work in activating the role of zakat in all investment sectors. Also, this paper recommended the continuation of Shariah studies, especially by the scientific bodies and jurisprudence councils, in the field of modern investments, establishing them and linking them to the jurisprudential heritage. Keywords: Zakat, Investment portfolios, Shariah.


The high-value property like Land, Home, related to real estate it is essential to have exact records that recognize the present proprietor and give evidence that he is surely the proprietor. Such a record can be utilized to protect the owner’s privileges, prevent sale fraud and to make sure that the ownership is correctly transferred to a new owner after sale. Thus it is essential to maintain correct and complete information and prevent illegal or unjustified, fraudulent changes. Many efforts have been taken already for providing data security to sensitive information. Blockchain is the technology that gives high security to the data. Blockchain technology can store an immutable history of transactional records, so no one can ever doubt the authenticity; records are permanently linked to the system so no one can ever interfere with a record of their own. This paper gives a comprehensive system on blockchain technology as it can not only be used in financial assets but anything which has some value.


2011 ◽  
Vol 368-373 ◽  
pp. 3083-3087
Author(s):  
Hua Tang ◽  
Hui Min Li ◽  
Tao Zhou

Cycle fluctuations have been identified which includes real estate investment, real estate consumption, real estate industry and national economy. Spectral analysis is applied in such research based on the statistical data from 1997 to 2010 of Xi’an. The mutual relation could be found between investment and price of Xi’an real estate referring that investment increases with the rise in house prices. Furthermore, a great deal of randomness has been shown in Xi'an real estate consumption which does little effect on the cycle of real estate price indicating real estate market in Xi'an is a seller's market. At the same time, due to the fluctuation cycle of national economy in Xi’an is more than 12 years; the periodic fluctuations of national economy cannot be deduced from the periodic fluctuations of real estate in Xi’an.


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