Hasil untuk "Real estate business"

Ния Герасимова, Милена Иванова

Продажбата на жилищен недвижим имот представлява сложен процес, който изисква стратегически подход за постигане на максимална пазарна стойност. В условията на нарастващи изисквания от страна на купувачите и динамичен пазар, хоум стейджингът се утвърждава като ефективен инструмент за подобряване на привлекателността и конкуренто-способността на имотите. Чрез прилагане на подходящи техники за визуална и функционална подготовка на жилището се стимулира интересът на потенциалните купувачи, което често води до по-бърза продажба и по-висока цена. Целта, която си поставят авторите на статията, е да представят същността на услугата „хоум стейджинг“, както и да анализират нейната приложимост и ефективност като иновативен подход, съчетаващ елементи на интериорен дизайн и маркетинг на недвижими имоти.

Edgar Manuel Cambaza

This article examines the ethical and systemic failures surrounding the massive financial fraud orchestrated by Vietnamese real estate tycoon Truong My Lan. This study aims to analyze the intricate web of relationships, rights, duties, and potential responses to prevent such unethical practices in the future. Using a case study approach, the research critically evaluates the most appropriate responses and considers future preventive measures. The study draws on various scholarly sources and legal frameworks, including the Vietnamese Enterprise Law, the Labor Code, and international conventions such as the United Nations Convention Against Corruption. Findings suggest that strengthening regulatory oversight, enhancing corporate governance, and fostering a culture of transparency and accountability are crucial steps in addressing and preventing financial fraud. The research also highlights the importance of technological integration, public education, and international collaboration in building a resilient financial system. This study contributes to the broader discourse on business ethics and corporate governance by comprehensively analyzing one of Vietnam's most prominent fraud cases and proposing actionable measures to mitigate similar risks in the future.

Angela Bahauovna Mottaeva, Anna Sergeevna Baranova, Egor Ivanovich Valuev et al.

В статье рассказывается о том, как на кафедре «Организация строительства и управления недвижимостью» (ОСУН) МГСУ было положено начало еще одной, новой уникальной традиции — организации зарубежной производственной практики студентов. В соответствии с достигнутыми договоренностями прошла зарубежная стажировка студентов кафедры ОСУН на АЭС «Аккую» в Турецкой Республике. Государственная корпорация по атомной энергии «Росатом» — многопрофильный холдинг, объединяющий активы в энергетике, машиностроении, строительстве. АЭС «Аккую» — первая атомная электростанция в Турецкой Республике. Проект первой турецкой АЭС включает в себя четыре энергоблока с реакторами российского дизайна ВВЭР-1200. Сооружение АЭС «Аккую» — первый проект в мировой атомной отрасли, реализуемый по модели Build-Own-Operate. Кафедра ОСУН осуществляет свою деятельность на протяжении более 90 лет, имеет свою историю и устоявшиеся традиции. Идя в ногу со временем, принимая во внимание нынешние инновационные тренды и вызовы в сфере строительства, экономики, образования, на кафедре была организована зарубежная стажировка студентов. С какими же трудностями они столкнулись и почему этот «пилотный проект» является очень ценным, знаковым опытом не только для кафедры, но и для НИУ МГСУ в целом. По итогам совместного проекта можно отметить, что поставленные цели и задачи решены. Стороны остались довольны результатами, отметили важность такого формата сотрудничества и запланировали дальнейшие взаимоотношения.

Kulczyk-Dynowska Alina, Nowicka Aleksandra

The scale of environmental pressure caused by the construction sector has prompted a search for new technical solutions to minimize the negative impact of this part of the national economy on the environment. The drive to evaluate the adopted solutions has led to the creation of building assessment systems - environmental certificates.

Sergey Nikolaevich Maksimov

The article addresses the new practice of the Integrated Development of Territories (IDT) in furtherance of changes in federal and regional legislation, following the adoption of Federal Law No. 494-FZ “On Amendments to the Urban Planning Code of the Russian Federation and Certain Legislative Acts of the Russian Federation to ensure the integrated development of territories”, December 2020. The article is based on the analysis of some provisions of these changes and the discussion that has begun in this regard at the regional level, in particular, in St. Petersburg. The article highlights the main problems of both applied and fundamental issues of the discussion, including criteria for classifying residential areas subject to demolition due to IDT projects implementation, residential areas under the IDT zone, issues of determining the form and amount of compensation to owners and tenants premises seized under the IDT, the expediency of IDT as a form of renovation of the housing stock, the issue of invasion of property in the implementation of the IDT, and the role of the population as a subject of the IDT. Based on the analysis, several proposals, aimed at improvement of legislation and IDT practices, were suggested.

Larisa Igorevna Zaitseva, Igor Viktorovich Budanov

Striving to create a business environment that forms socially responsible business functioning is especially important in the spheres of activity related to satisfaction of basic needs in housing, work, medicine, recreation, etc. Investment and construction activities carried out by various contractors are characterized by a high level of economic, social and environmental risks. Their neutralization in the format of practical implementation of ESG principles for the implementation of real estate creation and management projects is primarily related to the initial phases of the project and taking into account socio-environmental requirements in contracts for the performance of works, supplies, financing, equity participation, provision of services, etc. Contracts that take into account the requirements of sustainable development in practice form a family of “sustainable contracts”. They are distinguished by the unity of economic, social and environmental requirements. The latter reflect the norms of national regulation and are aimed at creating a legal environment of corporate responsibility of the construction business for sustainable development. Based on international practice, the authors proposed the structure of the Concept of a “sustainable contract” in construction. It covered both the system of sustainable development standards and the need to develop and harmonize the Code of Sustainable Corporate Governance in Construction. The organization of activities in this direction is seen in the interconnected joint aspiration of sectoral and territorial governing bodies, corporate and public organizations, scientific and educational institutions to standardize investment and construction activities, develop standard “sustainable contracts”, use out-of-court dispute resolution methods in terms of fulfilling obligations to implement ESG principles, as well as the adoption of sectorial code of corporate construction management.

Yun Zhao, G. Chetty, Dat Tran

Artificial intelligence (AI) and Machine Learning techniques have been making impact on the real estate industry recently. Increasingly, several real estate companies have started to use a variety of AI techniques to optimize their property business. Ma-chine learning (ML) technology for providing support on real es-tate investment decisions, allows investigation of historical property sales data by computer algorithms to automatically predict house prices. Real estate professionals can leverage sophisticate ML techniques to analyse sales data as benchmarks and make appraisals for their home selling clients and customers. ML technologies not only make predictions or classifications, but also can assistant real estate professionals for investment purposes by providing a trading strategy. In this paper, we propose a novel machine learning model, based on a standard deep reinforcement learning (DRL) model, enhanced with a combination of two popular time series algorithms, the Gramian Angular Field (GAF) and long short-term memory (LSTM) algorithms for providing decision support on real estate trading strategy. Our goal is to explore if the proposed enhanced DRL model can make profitable trading strategy for a long-time investment, such as the real estate markets.

A. Munirah, H. Ezdihar

The era of unprecedented pandemic coronavirus disease (COVID-19) had affected many sectors especially tourism, aviation and sharing accommodation industry, which includes the hotel industry or peer-to-peer accommodation industry. The pandemic situation has also reflected the real estate market as a whole, thus requiring real estate agents to be more creative in marketing strategy from the way they reach imminent clients. Digital trend technology, the Internet and social media appear to have a huge impact on business and have created new marketing chances. Due to that, this research aims to study the effectiveness of Internet platforms by investigating the contents’ ranking of the platforms for marketing strategy by real estate agents. Quantitative analysis was adopted using Relative Importance Index analysis. This study can benefit the body of knowledge and the real estate industry in terms of marketing strategy. This research displayed Facebook as the main platform where businesses conduct their marketing strategyfor sales or promoting the property. Furthermore, to lead to sales, estate agents need to post important component on social media and post it regularly to achieve engagement and maximise profit.

MB Hendrie Anto, Faaza Fakhrunnas, Yunice Karina Tumewang

Purpose ― This study aims to assess the home financing credit risk performed by Islamic banks in Indonesia. Methods ― A panel dynamic analysis is adopted to measure the bad loan performance before and during the Covid-19 pandemic. The observation period started from January 2016 to September 2020 with 1,881 observation periods of monthly panel data from the province level. Findings ― The study finds a difference in bad loan performance before and during the Covid-19 pandemic. Before this pandemic, inflation has a positive and significant influence on non-performing financing in real estate, rental business, and company service. However, during the Covid-19 pandemic, a substantial and positive effect of inflation is found on the bad loan for personal flat and apartment ownership. On the other hand, a significant and negative impact of inflation is found on the bad home loan for personal business shop ownership. Implication ― This analysis could trigger the government to provide financial assistance for those affected by the Covid-19 crisis. In addition to that, an Islamic bank is also expected to give financing allowances for them by providing an option of debt restructuration and rescheduling. Originality ― This paper analyses the Islamic bank’s credit risk performance for home financing before and during the Covid-19 pandemic. This issue has not been presented in the literature to the best of our knowledge.

Tatiana Dmitrievna Belkina

Показана определяющая роль многоквартирного жилищного строительства в улучшении условий проживания населения Российской Федерации, что требует решения задач выбора рациональных строительных, архитектурных и экономических решений. В статье дан анализ проблем перехода от долевого строительства, связанного с высокими рисками, сопровождающими данный механизм организации финансирования жилищного строительства, к проектному финансированию. Показана объективность сложностей перехода для населения, банков и застройщиков, что привело на первом этапе этих кардинальных преобразований к существенному сокращению текущего строительства, замедлению ввода жилья, уменьшению количества выданных разрешений на строительство. Представленная в статье оперативная статистическая информация свидетельствует, что во второй половине 2021 г., то есть через два года после вступления в силу правовых документов о переходе к проектному финансированию, ситуация стала меняться. Ввод жилья на 1 ноября 2021 г., количество заявок на проектное финансирование, поступивших в банки, по сравнению с тем же периодом прошлого года заметно выросли. Ряд неоспоримых преимуществ проектного финансирования перед долевым строительством, сформулированные в статье, позволяют предполагать существенный рост объемов строительства многоквартирных жилых домов и в целом жилищного строительства. Отмечено, что переход на проектное финансирование обеспечил стабильность рынка жилья во время экономического кризиса, вызванного пандемией. Во многом благодаря кредитным линиям застройщикам удалось удержаться весной 2020 года, когда из-за пандемии спрос резко сократился.

Michael Naor, Gavriel David Pinto, Amir Israel Hakakian et al.

Purpose This study aims to investigate whether the shift to teleworking during COVID-19 pandemic is going to diminish the need to procure/rent extensive office space and how this emerging trend impacts the real-estate market in Israel. Design/methodology/approach The methodologies used in this study include triangulation of Google search engine, survey and post hoc case study analysis. Findings The analysis indicates a decline both in procuring office space and its price per square meter. Employee productivity while teleworking remains relatively high despite home distractions. Interestingly, the survey results forecast a continuous shift to hybrid work mode after the pandemic. Practical implications The study introduces the development of numerous innovative Israeli technologies to allow a gradual return to work in public places. Social implications As the coronavirus outburst, business sectors were forced by government regulations to change the way of employment extensively, specifically, teleworking has become an integral part of the routine to accommodate social distance. The study provides insights into the impact of teleworking on gender and ethnic diversity in the Israeli workplace. Originality/value Israel provides a unique bedrock for investigation because of its status as a start-up nation with both high skilled workforce and advanced information technology infrastructure. The study enlightens an Israeli perspective on how a small size country with a high-density population succeeds to deal with coronavirus by teleworking coupled with strict government enforcement of social distance.

Alireza Gharahighehi, Konstantinos Pliakos, C. Vens

The shift to e-commerce has changed many business areas. Real estate is one of the applications that has been affected by this modern technological wave. Recommender systems are intelligent models that assist users of real estate platforms in finding the best possible properties that fulfill their needs. However, the recommendation task is substantially more challenging in the real estate domain due to the many domain-specific limitations that impair typical recommender systems. For instance, real estate recommender systems usually face the clod-start problem where there are no historical logs for new users or new items, and the recommender system should provide recommendations for these new entities. Therefore, the recommender systems in the real estate market are different and substantially less studied than in other domains. In this article, we aim at providing a comprehensive and systematic literature review on applications of recommender systems in the real estate market. We evaluate a set of research articles (13 journal and 13 conference papers) which represent the majority of research and commercial solutions proposed in the field of real estate recommender systems. These papers have been reviewed and categorized based on their methodological approaches, the main challenges that they addressed, and their evaluation procedures. Based on these categorizations, we outlined some possible directions for future research.

Soumitra Majumder, D. Biswas

COVID-19 pandemic has been spread like wildfire and left its deadly impact throughout the world. This would harm businesses according to the sectors. Like other sectors real estate sector under the construction industry is also facing the impact of the COVID-19 pandemic. It becomes very detrimental about labour market, company liquidity, the supply of materials, project delivery, and key cost components, and so on. In general, it happens that the real estate sector often experiences complexities in case of project completion, scheduling, and financing. The planned work cannot be carried out due to the non-availability of sufficient numbers of skilled labours and staff. Moreover due to effects of pandemic real estate sectors and the work-life of real estate professionals are being hampered. It is very much obvious that human resources act as the lifeline of any organization and they need to be handled and managed with the utmost care and dignity. Despite the physical, technological and financial resources in the business, human resource is such a critical asset that employers should take care of their quality of work-life all the time, not only during the crisis period. By satisfying them the business can achieve its objectives in terms of revenue and recognition. After a strict lockdown when things return to new normal and employees return to work, the company needs to take certain ‘human resource’ perspectives for maintaining a good quality of work life. All the employers should implement some strategies concerning to qualitative work life of the employees during this epidemic situation. The real estate sector is labour intensive and employees are a very critical resource that helps to increase productivity and enhancing competitiveness in the market. The impact of the pandemic on the quality of work-life among real estate employees in Kolkata, India is also studied.

Ahmed Eltweri, Alessio Faccia, Osama Khassawneh

Haruka Kato, A. Takizawa

In Japan, where the population is declining and aging significantly, walkability has attracted attention as a way to improve residents’ lifestyles. Therefore, it is essential to identify the residential clusters where walkability improvement would contribute to the maintenance of the population in order to select urban areas for the implementation of walkable designs. This study aimed to identify the residential clusters in which walkability affects the future population from the perspective of real estate prices. The reason for focusing on real estate prices is that they are expected to be a confounding factor connecting walkability and the future population. The method we used was to analyze the structural equation modeling of the impact of walkability index, real estate prices, and future population change ratio. This analysis was based on the neighborhood association scale. This study clarified that effective residential clusters are the business center cluster and the sprawl cluster. In the business center cluster and the sprawl cluster, the price of apartments for sale is the real estate value, through which the walkability index positively impacts the future population change ratio. This means that it is expected to contribute to the maintenance of the future population through a combination of walkable designs and housing policies that encourage people to change their residence types to apartments for sale when rebuilding old building stock using the location optimization plan policy.

M. Karanasos, S. Yfanti

Abstract We reveal the macroeconomic determinants of the dynamic correlations between three global asset markets: equities, real estate, and commodities. Conditional equicorrelations, computed by the GJR-GARCH-DECO model, are explained by the macro-financial proxies of economic policy and financial uncertainty, credit conditions, economic activity, business and consumer confidence, and geopolitical risk. Our results suggest that elevated cross-asset correlations are associated with higher uncertainty, tighter credit conditions, and lower geopolitical risk, while lower correlations are related to stronger economic activity, business, and consumer confidence. We further focus on economic policy uncertainty (EPU) as a potent catalyst of the asset markets integration process and conclude that EPU magnifies all macro-effects across all correlations. Lastly, we investigate the global financial crisis effect on the time-varying impact of the correlations’ macro-drivers. The crisis structural break amplifies the influence that all determinants exert on the evolution of correlations apart from the geopolitical risk upshot, which is alleviated after the crisis advent.

Natalia Echeverri, Tuuli Jylhä, Philip W. Koppels

The increasing competitive pressures and dynamic user preferences have resulted in a fast-paced and uncertain business environment. In the face of these circumstances, organizations are looking into alternatives to incorporate flexibility to become more adaptive and responsive to change. In this line, co-working, typically associated with freelancers, entrepreneurs, and startups, has become a particularly interesting alternative in the market that has caught the attention of corporate occupiers. Therefore, the aim of this paper is to identify co-working strategies that can be implemented as part of the corporate real estate portfolio, in alignment with the flexibility demands of the organization. This nascent research topic is studied through 5 qualitative case studies including in-depth, semi-structured interviews with corporate real estate managers and related case documentation. The results evidence the different motivations that the organizations have when incorporating co-working in their property portfolio. As seen across the cases, organizations in different stages of maturity are implementing co-working as the main office location or as a temporary or complementary space solution, through six different strategies: (1) Swing Space, (2) Expansion Space, (3) Core and Flex, (4) Touchdown Space, (5) Testing Market, and (6) Temporary Projects and Staff. This research evidences that each strategy plays a specific role in the corporate real estate portfolio and implies different sources of flexibility that support the physical, functional, and financial flexibility demands of the organization.

E. Ionașcu, M. Mironiuc, I. Anghel et al.

As transparency has become the new paradigm of economic activities, we set out to analyse the extent to which the EU real estate companies legitimise their role in society through the sustainable development goals (SDGs) while meeting stakeholders’ information needs. Applying the content analysis, the sustainability reports and the annual reports of the entities from the real estate sector, from 2016 to 2018, were studied in order to highlight the priority SDGs of the field and the extent to which they are integrated in their business models. In addition, we evaluated, based on a quality score, the depth with which the entities report their sustainability commitments. The results of the study show that although more and more real estate entities are expressing their interest for sustainable development, there is still a large gap between the assumed intentions and the real actions undertaken by the companies. Most of them do not have the strategy, culture and tools needed to turn sustainability commitments into concrete actions. According to the average quality score (2.99 out of 5), the entities present their sustainability aspirations mostly qualitatively and report few quantitative key performance indicators (KPIs) to reveal the degree of achievement of the priority SDGs, such as: SDG 11—Sustainable cities and communities, SDG 13—Climate action and SDG 8—Decent work and economic growth.

Andrejs Čirjevskis

The real estate market of EU countries has undergone a severe global financial crisis 2008–2009, recovered successfully later, and now experiencing significant uncertainty due to the COVID-19 pandemic event. Significant volatility of the real estate business is once again evident, just as it was following the global financial crisis. The paper aims to provide a case study of a real estate project by giving insight into the Latvian real estate project that had been experiencing similar economic uncertainty, to demonstrate hybrid real options valuation (ROV) method to adapt real estate investments to changing circumstances and to develop the decision-making solution to similar EU real estate problems during the pandemic. The paper provides the “step-by-step” ROV application’s methodology in real estate development projects. The presented methodology is a powerful managerial risk management tool for the executives of similar real estate development projects in the EU countries struggling to make investment decisions in the pandemic and post-pandemic period. Since any estimation includes assumptions, ROV results should be interpreted and perceived as approximations only. The future works can provide robust ROV analyses and interpretations regarding the demand for real estate, showing quantitatively how competition can impact strategic investment decisions.

Ajay A. Palvia, Emilia Vähämaa, Sami Vähämaa

Abstract This paper examines whether banks with female Chief Executive Officers (CEOs) and chairpersons of the board are associated with better lending performance and lower default risk when faced with severe real estate price shocks. Using a large panel of U.S. commercial banks, we document that female-led banks with high real estate exposure are associated with lower loan charge-offs and lower non-accrual loans relative to similar male-led banks. Furthermore, our empirical findings indicate that female-led banks with high real estate exposure have lower default risk and are less likely to fail in the aftermath of real estate price shocks. However, we find no evidence of superior lending performance or reduced default risk for female-led banks which are not exposed to severe real estate price shocks through high levels of real estate lending.