scholarly journals International Real Estate Review

2010 ◽  
Vol 13 (3) ◽  
pp. 323-350
Author(s):  
Andrés Navarro-Galera ◽  
◽  
María del Carmen Pérez-López ◽  
Lázaro Rodríguez-Ariza ◽  
◽  
...  
Keyword(s):  
Real Estate ◽  
Fair Value ◽  
International Standards ◽  
Financial Reports ◽  
The Real Estate ◽  
Construction Company ◽  
Value Evaluation ◽  
Value Model ◽  
Real Estate Assets

Some international standards have proposed that the fair value approach should be used to evaluate real estate assets. The choice to use this method or another approach could influence the quality of the financial reports published in response to information demands by company stakeholders.In this study,we will examine whether fair value evaluation, in the real estate context, improves the utility of construction company financial reports. For this purpose, we have addressed a questionnaire to financial directors that concern the relevance, reliability and viability of this valuation criterion. Based on the opinion of the respondents, our results show that the fair value model would improve the usefulness of financial reports to evaluate company solvency, and would also improve the comparability, timeliness and understandability of such reports.

Content Strategy in Management of Communications

2021 ◽  
Vol 12 (3) ◽  
pp. s232-s242
Author(s):  
Olha Balabash ◽  
Valerii Ilin ◽  
Nataliia Poprozman ◽  
Inna Kuznetsova ◽  
Dmytro Shushpanov ◽  
...  
Keyword(s):  
Real Estate ◽  
Supply And Demand ◽  
Real Estate Market ◽  
The Real ◽  
The Real Estate ◽  
Construction Company ◽  
The Real Estate Market ◽  
Content Strategy ◽  
Alternative Sources ◽  
The Web

The aim of the article is to substantiate the theoretical and methodological support for the formation and implementation of the content strategy of a construction company.  The article considers the formation of content strategy, its place in the management of communications of the enterprise. The following methods were used in the course of the research: the method of statistical analysis (for the analysis of the tendency of the real estate market development of Ukraine); analysis, synthesis, logical and theoretical generalization – to specify the factors of supply and demand in the real estate market; graphical method, table method (to visualize the results of the study); method of calculating specific indicators of communicative activity (CPC (Cost Per Click), CPA (Cost Per Action), CTR (Click Through Rate)) for analysing trends in traffic to the company's website and identifying alternative sources of traffic. The specifics of developing a content strategy taking into account the peculiarities of the company's construction industry are shown. An analysis of trends in the real estate market of Ukraine is carried out based on official statistics. The dynamics of the volume of construction works is analysed, the housing price indices in Ukraine are determined and the factors of supply and demand in the real estate market are specified. The analysis of communicative efficiency of the web-system of the construction company is carried out, as a result of which, measures for improvement of management of its external communications by substantiation of variants of advancement on the Internet are developed. This is done by analysing trends in traffic to the company's website and identifying alternative sources of traffic. The developed measures will increase the efficiency of management of the construction company. The article proposed a procedure for analysing the web-system of a construction company based on attendance indicators and search activity, which allows identifying alternative sources of traffic and developing appropriate measures to manage communications of the enterprise in order to achieve their efficiency. The practical significance lies in the fact that the developed recommendations for the formation of the communication strategy of the construction company can be further used to intensify the promotion of the company's services in the real estate market and attract investment.

scholarly journals AVALIAÇÃO EM MASSA DE IMÓVEIS USANDO GEOESTATÍSTICA E KRIGAGEM BAYESIANA (UM ESTUDO DE EM BALNEÁRIO CAMBORIÚ/SC)

2017 ◽  
Vol 13 (1) ◽  
Author(s):  
Ricardo André Hornburg ◽  
Norberto Hochheim
Keyword(s):  
Real Estate ◽  
Spatial Econometrics ◽  
Moving Average ◽  
Spatial Regression ◽  
Fair Value ◽  
Real Estate Market ◽  
Bayesian Kriging ◽  
The Real Estate ◽  
Bayesian Geostatistics ◽  
Spatially Distributed

RESUMO: Uma das grandes dificuldades que se tem na avaliação em massa de imóveis é encontrar um modelo que mostre a realidade do mercado de imóveis para que se possa construir uma Planta de Valores Genéricos (PVG), usada como base para a cobrança do Imposto Predial e Territorial Urbano (IPTU). Este artigo apresenta um método que combina o uso da econometria espacial com a geoestatística bayesiana visando estimar o valor dos imóveis levando em consideração as interações espaciais devidas às características da localização. Os métodos da regressão espacial e da krigagem bayesiana são usados com esta finalidade. A técnica da regressão espacial possibilita a modelagem da dependência espacial. A técnica da krigagem bayesiana permite estimar valores de variáveis espacialmente distribuídas a partir de valores adjacentes considerados como interdependentes. Dessa maneira, a krigagem é considerada um método de médias móveis. O semivariograma é a ferramenta básica de suporte às técnicas de krigagem, permitindo representar quantitativamente a variação de um fenômeno regionalizado no espaço. Uma aplicação do método proposto é realizada no bairro Centro da cidade de Balneário Camboriú (SC), usando-se uma amostra de dados de mercado para a avaliação em massa de imóveis do tipo apartamento. Destaca-se como contribuição do método apresentado uma possibilidade de melhora na determinação do valor justo dos imóveis numa avaliação em massa, amparando assim a equidade e consequente justiça fiscal quando aplicados pelos municípios. ABSTRACT: One of the greatest difficulties in bulk value appraisal of buildings is to find a model that shows the reality of the real estate market so you can build a Standard Ground Value (SGV), used as a basis for the collection of Land and Territorial Tax Urban (Land Tax). This paper presents a method that combines the use of spatial econometrics with Bayesian geostatistics in order to estimate the value of real estate taking into account the spatial interactions due to the characteristics of the location. The methods of spatial regression and Bayesian kriging are used for this purpose. The spatial regression technique allows the modeling of spatial dependence. The Bayesian kriging technique allows the estimation of values of spatially distributed variables from adjacent values considered as interdependent. In this way, kriging is considered a moving average method. The semivariogram is the basic tool to support kriging techniques, allowing quantitative representation of the variation of a regionalized phenomenon in space. An application of the proposed method is carried out in the downtown neighborhood of Balneário Camboriú (SC), using a sample of market data for the mass evaluation of apartment-type properties. As a contribution of the method presented, there is a possibility of improvement in the determination of the fair value of real estate in a mass valuation, thus supporting equity and consequent fiscal justice when applied by municipalities.

Local Investments Site Selection and the Behavior of the Real Estate Market – Case Study in Poland

2017 ◽  
Author(s):  
Monika Siejka
Keyword(s):  
Economic Development ◽  
Real Estate ◽  
Negative Impact ◽  
Real Estate Market ◽  
The European Union ◽  
The Real Estate ◽  
The Real Estate Market ◽  
Real Estate Management

One of the main tasks of real estate management in the area of the municipality is making decisions concerning the location of investments on a local scale. These decisions should be taken with the principle of sustainable development. For such an action obliges Poland's membership in the European Union. Poland as a member of the EU is obliged to implement the rules in force in the Member States. Bearing in mind that any investment impact directly or indirectly on the economic development of the municipality, is therefore a significant impact on the local real estate market. Investments that have a negative impact on the environment can contribute to a reduction in the activity of the local real estate market. While performing tasks related to the economic development of the region and the increase in quality of life, increases the activity of the local real estate market. The work was carried out research on the dynamics of changes in the local real estate market in the area of the municipality Skrzyszow in the Malopolska province in Poland, in connection with the construction of the reservoir.

scholarly journals The Spiritual Quality in Facilitating a Transformation Towards Integral Sustainability: The Case of Real Estate Development

MANUSYA ◽  
2009 ◽  
Vol 12 (1) ◽  
pp. 97-115
Author(s):  
Tanapon Panthasen ◽  
John Motloch ◽  
Vimolsiddhi Horayangkura
Keyword(s):  
Real Estate ◽  
Integral Transformation ◽  
Spiritual Transformation ◽  
Real Estate Development ◽  
The Real Estate ◽  
Residential Community ◽  
Real Estate Sector ◽  
The Relationship ◽  
Depth Interviews

This study is intended to analyze and describe the relationship between the quality of spirituality and the quality of sustainability through the study of residential community developments in the real estate sector. Based on integral theories, this study explores three communities globally and three communities in Thailand. According to the data, gained mainly from in-depth interviews, questionnaires and observation, the findings show that an integral transformation towards a higher degree of sustainability has occurred, which embraces a spiritual, behavioral, cultural, social and environmental dimension. The findings also show that spiritual transformation has been the primary factor enabling this occurrence. Accordingly, this study offers suggestions for facilitating a transformation towards integral sustainability.

scholarly journals Ageing and Quality of Life - New Responses from the Real Estate Sector in Portugal (1)

2011 ◽  
Vol 15 (15) ◽  
pp. 57-69
Author(s):  
Fátima De Matos
Keyword(s):  
Quality Of Life ◽  
Real Estate ◽  
Elderly Population ◽  
The Elderly ◽  
Real Estate Market ◽  
The Real ◽  
The Real Estate ◽  
Real Estate Sector ◽  
Wide Range

Ageing and Quality of Life - New Responses from the Real Estate Sector in Portugal (1) In the second half of the 20th century, the history of European demography is associated with a pronounced and widespread process of ageing. The 21st century will have to cater to the needs of an elderly population in transformation. Portugal is also part of this process and in efforts to improve the quality of life of the elderly, a wide range of facilities, services and social responses have been established by a variety of promoters, targeting several social levels. This paper will analyze a specific segment directed at an exclusive niche of the elderly population, the Senior Residential Condominiums. This is a very recent segment of the housing market, with high levels of comfort, quality, sanitation, health, and recreation, essential to full well-being. The paper intends to characterize this real estate market niche so as to identify its distinctive features, the promoting agents and how they can contribute to residents' quality of life.

scholarly journals THE CONCEPTUAL MODEL OF CONSTRUCTION AND REAL ESTATE NEGOTIATION

2009 ◽  
Vol 13 (1) ◽  
pp. 53-70 ◽  
Author(s):  
Vita Urbanavičienė ◽  
Artūras Kaklauskas ◽  
Edmundas K. Zavadskas
Keyword(s):  
Real Estate ◽  
Consumer Behaviour ◽  
Negotiation Process ◽  
The Real ◽  
The Real Estate ◽  
Stakeholder Groups ◽  
Negotiation Processes ◽  
Technological Quality ◽  
Selling Process

Negotiations are common in many activities; the sectors of construction and real estate are not an exception: here the negotiations are an inseparable part of the real estate buying and selling process. The article analyses scientific research related to negotiations and presents the developed model for multiple criteria analysis of construction and real estate negotiations. The analysis of the negotiation processes in construction and real estate and the analysis of the relevant support for decision‐making in negotiations must be thorough; it must consider not only economic but also political, legal, socio‐cultural, psychological, consumer behaviour, technological, quality of life and other issues. The developed model enables to analyse the combination of the real estate negotiation process, the improvement of its efficiency through use of decision support and voice stress analysis technology and the participating stakeholder groups seeking their goals together with the influencing external macro and micro environment. The paper dwells on the components of this model. Santruka Derybos nuolatos vyksta daugelyje veiklos sričiu, neaplenkdamos ir statybos bei NT sektoriu, kur jos yra neatsiejama nekilnojamojo turto pirkimo ir pardavimo proceso dalis. Straipsnyje analizuojami mokslininku tyrimai derybu srityje ir pristatomas sukurtas statybos ir NT derybu daugiakriterines analizes modelis. Nagrinejant statybos ir NT derybu procesa bei taikoma parama derybu sprendimams priimti, būtina tai nagrineti išsamiai, kreipiant demesi ne tik i ekonominius, bet ir i politinius, teisinius, socialinius, kultūrinius, psichologinius, vartotoju elgsenos, technologinius, gyvenimo kokybes ir pan. klausimus. Sukurtas modelis leidžia analizuoti NT derybu procesa, jo efektyvumo didinima, taikant sprendimu paramos ir balso analizes technologijas, joje dalyvaujančias ir savo tikslus norinčias igyvendinti suinteresuotas grupes bei jas veikiančia išorine makro‐ ir mikroaplinka kaip visuma. Straipsnyje aptartos sukurta modeli sudarančios sudetines dalys.

scholarly journals Diversified Price Dynamics in some Sub-Segments of the Housing Market

2015 ◽  
Vol 15 (1) ◽  
pp. 162-173
Author(s):  
Sebastian G. Kokot
Keyword(s):  
Real Estate ◽  
Price Index ◽  
Real Estate Market ◽  
Quality Of Data ◽  
The Real ◽  
The Real Estate ◽  
Transaction Prices ◽  
The Real Estate Market ◽  
Price Movements

Abstract The observation of price movements on the real estate market is an extremely difficult task as we have to face problems belonging to two spheres. The first of them is the specific nature of real estate as marketable objects and of the real estate market itself. The second one is the character and quality of data on real estate transaction prices. In this article the author, based on an empirical study, attempts to prove that even in a single segment of a local real estate market the prices in individual sub-segments can fluctuate with different intensity. The range of price movements can be so vast that it seems pointless to apply a single averaged price index for the whole segment, and usually that is what analysts do.

scholarly journals A note on auditing fair value of investment properties

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Bo Nordlund ◽  
Johan Lorentzon ◽  
Hans Lind
Keyword(s):  
Fair Value ◽  
Financial Reports ◽  
Content Type ◽  
Market Values ◽  
Substantial Risk ◽  
Fair Market ◽  
Depth Interviews ◽  
Practical Implications

PurposeThe purpose of this article is to study how fair values in financial reports are audited.Design/methodology/approachThe study is a qualitative case study based on in-depth interviews.FindingsOne important finding is that auditors anchor in the figure presented by the company, and despite the auditing efforts, there is a substantial risk of management bias in the fair values reported. There is a risk for confirmation bias.Research limitations/implicationsRelatively, few respondents were employed in this study, but their background and competence lead to the assessment that the study provides a representative picture of what is being investigated.Practical implicationsAuditors may need to develop ways of performing auditing of fair values to reduce the risks identified in this study.Social implicationsThis study presents a perspective of the auditing process enabling an evaluation of the quality of fair value estimates regarding investment properties in the financial reports. This study also provides users of financial reports as investors, bankers and other institutions with an enhanced understanding of reported estimates of fair (market) values.Originality/valueVery few studies have investigated how auditors evaluate fair values of investment properties. This study contributes by giving users of financial reports an enhanced understanding of the quality of reported estimates of fair (market) values.

scholarly journals The relationship between the financial crisis and the measurement of fair value in financial statements

2014 ◽  
pp. 43-51
Author(s):  
Birutė Gudonytė ◽  
Kristina Rudžionienė
Keyword(s):  
Financial Crisis ◽  
Information Disclosure ◽  
Global Financial Crisis ◽  
Relevant Information ◽  
Fair Value ◽  
Financial Reports ◽  
Value Evaluation ◽  
True Value ◽  
The Global Financial Crisis ◽  
Value Measurement

Literature suggests that the main goal of fair value evaluation is more reliable and relevant information disclosure to external users. However, in 2007, at the beginning of the global financial crisis, the benefits of fair value, as well as the opportunity to provide information about the true and fair view of a company, were called into question. Opponents of the fair value claim that the fair value was the main reason for the global financial crisis, but the advocates disagree; therefore, the correlation between the fair value and crisis is controversial. It reflects the problem of the thesis: how the system of fair value accounting influenced the financial crisis? Object of the paper: the method of true value measurement. Aim of the paper: to evaluate the measurement of fair value and its potential impact on the financial crisis in Lithuania. After analysing the evaluation of 25 Lithuanian listed companies by disclosure of fair value, it can be state that stock companies evaluate more property than liabilities by disclose the fair value. A correlation coefficient was determined while assessing the correlation between the application of fair value in financial reports and financial crisis in Lithuania, but it disapproved the correlation.

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