Abstract
The model for an efficient real estate sector as suggested by this research is based on the presumption that the efficiency of a real estate sector depends on many macro and micro level variables. The presence of specific macro and micro level variable factors right away imposes objective limitations for efficient activities within the real estate sector. The real estate sector, in the presence of these objective limitations, tries to perform its functions within their bounds with the utmost efficiency. The research aimed at producing a model of a rational real estate sector by undertaking a complex analysis of micro and macro environment factors that affect it and to provide recommendations that would increase its competitive ability. In order to demonstrate the application of the above research by developing a model for an efficient real estate sector, a selection of rational housing investment instruments and lenders will be considered in this paper as a sample.
Highlights
To be efficient the real estate sector must operate within certain boundaries that have been imposed by micro and macro level factors
In modeling and forecasting future perspectives and the main development trends of the Lithuanian real estate sector, it is possible to be prepared for effective changes in micro and macro environments
The micro and macro analysis of a real estate sector in developed countries and in Lithuania can allow one to identify areas where the situation in Lithuania is comparable, partly comparable or quite different from the level attained by developed countries
Summary
To be efficient the real estate sector must operate within certain boundaries that have been imposed by micro and macro level factors. Applying multiple criteria analysis methods may increase the efficiency of modeling and forecasting of real estate sector and its macro- and micro-level environment and its development trends. Development of a conceptual database of micro and macro level factors; Stage 3: a quantitative description of the existing situation of the Lithuanian real estate sector, countries in transition and advanced industrial economies. Of rational micro and macro level factors; Stage 6: working out a model of the Lithuanian real estate sectors development trends Upon completion of such a model, the interested parties, by taking into consideration the existing limitations and existing possibilities of the real estate sectors environment will be able to use their financial resources in a more rational manner. In order to throw more light on the subject a more detailed description of some of the above-mentioned stages of analysis follows: Development of a conceptual and quantitative description of real estate sector, Determining rational housing investment instruments and lenders
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