Real Estate Management and Valuation 

About: Real Estate Management and Valuation is an academic journal published by De Gruyter Open. The journal publishes majorly in the area(s): Real estate & Valuation (finance). It has an ISSN identifier of 2300-5289. It is also open access. Over the lifetime, 383 publications have been published receiving 1793 citations.

Real Estate for the Ageing Society – the Perspective of a New Market

Abstract: Currently, one of the key challenges on a global scale is the issue of an ageing society. The UN predicts that the number of people aged 60 and over will double by 2050 and treble by 2100. In the coming years, the demand for real estate that addresses the specific needs of older people will increase both qualitatively and quantitatively. Therefore, two main questions arise: What are the architectural features of real estate required to accommodate for the needs of an ageing society? Which European Union countries seem to have the highest and lowest potential to create a segment of the real estate market focused on older people? This paper contains a research overview in the field of the built environment for older people and case studies of different policies established by public authorities from past decades. The potential for real estate for an ageing society in EU countries was determined on the basis of variables collected by the UNECE. The results also enable assumptions to be made on which factors may influence future development in this area. Due to global climate changes combined with the urbanization process and resulting deterioration of air quality, heat island effect or poor accessibility to open areas, the ageing society will have to face the problem of adapting to these new conditions. Therefore, the authors assume that this will have a significant impact on the relocation of this age group on the real estate market in the future. The conclusions of the research contribute to general discussion on new trends in the real estate market and the assessment of future investments in real estate.

The Role of Spatial Planning in the Investment Process in Poland and Slovenia

Abstract: This paper is based on the hypothesis that: “Spatial planning should regulate spatial development, taking into account the public and private interests, and enabling the development of public and private investments in construction projects. Investors may be discouraged from construction on account of too small or too excessive a number of spatial implementation conditions (land use guidelines) in particular, where an adequate professional basis has not been provided”

Uncertainty of property valuation as a subject of academic research

Abstract: Property valuation is characterized by uncertainty, understood not only as uncertainty of a single valuation, but also as a discrepancy between multiple valuations of the same property carried out at the same time and for the same purpose. A valuation is only an estimate, the outcome of which depends on the assumptions adopted by the valuer. Such assumptions may account for the potential of a property in a complex market environment in different ways.

The Possibilities and Limitations of Geostatistical Methods in Real Estate Market Analyses

Abstract: In the traditional approach, geostatistical modeling involves analyses of the spatial structure of regionalized data, as well as estimations and simulations that rely on kriging methods. Geostatistical methods can complement traditional statistical models of property transaction prices, and when combined with those models, they offer a comprehensive tool for spatial analysis that is used in the process of developing land value maps. Transaction prices are characterized by mutual spatial correlations and can be considered as regionalized variables. They can also be regarded as random variables that have a local character and a specific probability distribution.

Is there a Housing Bubble in Turkey

Abstract: There was a notable housing price inflation in aggregate/local levels in Turkey during the last few years. Although the country’s economic fundamentals remain strong, the probability of a housing bubble is a heated debate among market participants. This timely investigation brings greater clarity to whether the Turkish housing market is in a bubble. The study uses a multi-strand approach to dissect the bubble over the period of Jan. 2010 - Dec. 2014. First, monthly/annual price-to-income and monthly price-to-rent ratios are examined for the national Turkish as well as regional Istanbul, Izmir and Ankara housing markets. Second, an extended CASE and SHILLER (2003) model is applied assessing the interdependence between housing prices and a series of explanatory variables. Lastly, the Right Tail Augmented Dickey-Fuller (Rtadf) test is performed to support the overall analysis. This study finds that neither affordability ratios nor regression estimates support the existence of the bubble in Turkey.