Real Estate Ownership Research Articles

PROPRIETARY RIGHT AND EXPROPRIATION

Mülkiyet hakkı, tarih boyunca vazgeçilmez bir insan hakkı olarak karşımıza çıksa da diğer temel haklar gibi sınırlanması mümkün kılınmıştır. Devlet ve kamu tüzel kişilerinin kamu hizmetlerini yürütürken ortaya çıkan taşınmaz ihtiyaçlarını karşılamak gayesiyle başvurduğu kamulaştırma işlemi de mülkiyet hakkına getirilen en önemli sınırlamaların başında gelmektedir. Kamulaştırma işlemi ile mülkiyet hakkı sahibi taşınmaz malikinin mülkiyet hakkı ortadan kaldırılmaktadır.
 Kamulaştırma her ne kadar idari işlem olarak karşımıza çıksa da sonuçlarını özel mülkiyete tabi taşınmazlar üzerinde doğurmaktadır. Ayrıca kamulaştırma işleminin idari yönü olduğu gibi adli yönü de mevcuttur.
 Çalışmamızda en temel ve vazgeçilmez insan haklarından biri olan mülkiyet hakkı tanımı, kapsamı ve içeriğine değinildikten sonra bu hakkın sınırlaması niteliğinde olan kamulaştırma işlemi için uyulması gereken esas ve usullere değinilmiştir.

The Content of Acquisitive Prescription Criteria in the Doctrine and Law Enforcement Practice

The author analyzed the practice of general jurisdiction courts and commercial (arbitrazh) procedure courts in cases related to acquiring property rights by way of acquisitive prescription heard in 2020–2021. The aim of the study is to determine the degree of influence of legal positions that have been developed in domestic judicial practice on the project of reforming the institution of acquisitive prescription in Russia. The analysis of the array of court decisions resulted in the determination of the content of the acquisitive prescription criteria in law enforcement practice of Russian courts, identification of the problems related to the procedure for recognizing the right of ownership of real estate in the order of acquisitive prescription in court, and proposals for solving them. The author makes conclusions about the preparation of a draft Russian reform of the institution of acquisitive prescription without taking into account the legal positions developed in the practice of courts of general jurisdiction and commercial (arbitrazh) courts in cases of acquiring property rights by way of acquisitive prescription.

Nabywanie nieruchomości na potrzeby rozwoju miast z zastosowaniem procedury wywłaszczeniowej w czasach Republiki Rzymskiej

Expropriation in ancient Rome was an institution of public law and, at the same time, a manifestation of the sovereign interference of the state in the sphere of subjective rights of an individual. It led to the removal of the most important of the most important rights in rem, ie the ownership of real estate, from a private person. However, this could only happen after certain conditions were met. First, the expropriation had to be justified by the public aim which could only be achieved thanks to the acquired real estate. Second, compensation was paid to the expropriated.

Constructing platform capitalism: inspecting the political techno-economy of Building Information Modelling

In this article, we argue that in order to properly assess the potentials, challenges, and implications of the digital transformation in architecture and construction, we need to better understand the political-economic dynamics behind it and examine it in light of the current reorganisation of global capitalism. The focus of this article is therefore on the larger political-economic and techno-economic conditions that are shaping the implementation of digital technologies in the architecture, engineering, and construction (AEC) sector. Based on document analysis on the digital turn in architecture and construction, along with interviews with AEC professionals, we argue that the logic of platform capitalism is beginning to transform the industry, with Building Information Modelling (BIM) acting as an obligatory passage point and government policies as gate-openers. The article, first, discusses concepts of platform and platform capitalism and indicates how these apply to recent reconfigurations of actor and power relations in the field. Second, it reviews some of the developments in digital architecture from 2D drawings to BIM and beyond. Third, it examines the role of government policies as driving forces in the digital transformation. Forth, it takes a closer look at the case of software producer Autodesk and their BIM product Revit, which illustrates how the logic of platform capitalism has gained traction in architecture and construction. Finally, it concludes that some expectations can be derived from these observations: In the realm of design software, we can expect a further concentration of economic power and a near-monopolistic structure of the market. Moreover, we can expect a shift of focus and investment from architectural design to socio-digital modes of construction and urban planning that benefit primarily real estate owners, investors, developers, and construction companies. Furthermore, we can expect large construction firms to secure themselves a comfortable starting position as early adopters, while SMEs are facing bigger challenges to benefit from the digital transformation. Lastly, we can expect a further encroachment of tech giants and domain outsiders such as Alphabet into architecture and construction, turning buildings and cities into machines for data extraction.

Investigating the Impact of Changing the Usage Type of Existing Structure Using BIM

Many real estate owners change the building in terms of the type of usage in response to changes in economic conditions and the requirements of the surrounding environment to get the best potential financial return. To investigate the possibilities of changing the real estate's usage, the owners of these existing structures turned to feasibility study experts for assistance in making the optimum alternatives. So, they need an integrated model between VE and BIM, especially applicable to an existing structure, to determine the optimum usage type for the existing structure. Value Engineering (VE) and Building Information Modeling (BIM) must be connected to profit from both outputs simultaneously. Previous studies only investigated the VE alternatives during the design phase; when they decided to reduce project costs by using construction materials alternatives, they ignored existing structure alternatives significantly when changing the usage type. This study attempts to provide an integrated model between VE and BIM that can be applied to the existing structure to assist in determining the best alternative in terms of the type of usage for such existing structures by conducting BIM methodology such as a feasibility study, including BIM software such as Revit and Primavera. A feasibility study that contains the bank rate of interest. As a result, the maximum financial return is obtained based on predetermined criteria and in compliance with decision-making requirements. Doi: 10.28991/CEJ-2022-08-08-06 Full Text: PDF

중⋅고령자의 성별⋅연령별 삶의 만족도에 영향을 미치는 요인 연구

The purpose of this study is to analyse factors affecting life satisfaction by gender and age of the middle-aged and elderly over 50 years old empirically, and then to discuss implications for the findings. The findings of this study are summarized as follows. First, demographic and sociological factors affecting life satisfaction of middle-aged and elderly over 50 years old are different by gender and age. education of 60s male and 50s, over 80s female, married 50s~70s male and 50s female, number of child of 50s female, region of 50s female have positive effect on their life satisfaction statistically significantly. Second, economic factors affecting life satisfaction of middle-aged and elderly over 50 years old are different by gender and age. Household income of 50s male and over 60s female, paid work of 50s male and female, preparation for retirement of 50s~60s male and female, real estate ownership of 50s~70s male, having financial assets of 50s and 60s male have positive effect on their life satisfaction. And liabilities of 50s~70s male and 50s and 60s female have negative effect on their life satisfaction. Third, leisure factors affecting life satisfaction of middle-aged and elderly over 50 years old are different by gender and age. Religious activities of 60s male, working out of 60s male, traveling of over 50s male and 50s, over 70s female, friendship activities of 50s, over 70s male have positive effect on their life satisfaction. Fourth, health and activities of daily living functions of middle-aged and elderly over 50 years old are different by gender and age. Physical health of from over both 50s male and female have positive effect on their life satisfaction. negative mental health of over 60s male and over 50s female, ADL of 60s female, IADL of 70s male, and 50s, 70s, and over 80 female have negative effect on their life satisfaction.

The Effects of Homeownership on Wealth Distribution

Within the broader context of new dimensions of poverty such as housing poverty, energy poverty, etc., this article describes dependencies between household income, real estate ownership and socio-economic trends. We argue that income is not the principal determinant for home ownership rate, but rather recent lifestyle changes can better explain the homeownership decreasing trend in developed economies. Job mobility, family formation determinants and demographical trends seem to find well-supported basis in literature and data. Using data for the US states we have proved that the decreasing rate of home ownership may be explained by social aspects of changing lifestyle such as increasing share of population moving from rural areas to cities, age of marriage, divorce rate, career-oriented lifestyle, rather than by the frequently cited price-income ratio. We have also observed a short-term correlation between financing availability and homeownership rate, but we conclude that property prices would adjust to lose monetary policy without any long-term effect on homeownership rate. It results that government or monetary policies aimed to cushion the housing unavailability (recently increasing value of price-income) ratio may distort the housing market. We propose a new insight in the housing availability discussion.

Comparative Analysis of Typical and Energy-Efficient Solutions of a Low-Rise Residential Building Based on a Bim Model

Energy efficient solutions reduce the amount of resources consumed, which leads to a lower total cost of ownership of real estate. The use of the BIM model makes it possible to evaluate the key indicators of energy-efficient solutions: heat transfer coefficient, specific annual values of energy consumption, fuel consumption, and carbon dioxide emissions into the atmosphere.Purpose of research. Develop and determine the feasibility of introducing energy efficient solutions based on the use of a BIM model of a low-rise building.Methods. The methodology is based on the study of the introduction of modern building technologies and standards in the Penza region, as well as the analysis of positive solutions to similar situations in the Russian Federation. To achieve the goal, the following tasks were solved: a BIM model was developed and the energy efficiency of a typical residential building was assessed; options for improving the energy efficiency of a typical low-rise residential building were identified; an energy report was drawn up for standard and energy-efficient buildings and the expediency of introducing energy-efficient solutions into a standard project was substantiated.Results. When developing energy-efficient solutions, it is advisable to use modern digital technologies. The BIM model of a typical low-rise residential building makes it possible to identify thermal blocks, zones within each of them, as well as structural elements of the building through which the main heat losses occur and develop options for improving the energy efficiency of the building. Based on the thermal blocks and zones allocated in the building, energy-efficient solutions have been developed, thanks to which heat losses through window openings and the front door are reduced from 3.04 to 0.63 W/m2K and from 2.11-0.79 W/m2K, respectively. Heat losses due to changes in the design of enclosing structures: walls and floors above the first floor decreased from 0.28 to 0.25 W/m2K and from 0.18 to 0.15 W/m2K, respectively.Conclusions.The BIM model of a building makes it possible to effectively conduct a comparative analysis of standard and energy-efficient solutions for low-rise buildings, taking into account the features of the planning solution and regional climatic features.

Does unit of account affect willingness to pay? Evidence from metaverse LAND transactions

LAND is a non-fungible token (NFT) representing virtual real estate ownership in The Sandbox metaverse, a digital world built on the Ethereum blockchain. The open nature of a blockchain-based metaverses like The Sandbox allows users to transact in multiple denominations/currencies. We analyze more than 71,000 transactions and find that when transactions are settled in The Sandbox's native utility token (SAND), users pay 3.4% more compared to ETH (in effective USD prices). There are also evidences that users pay less when transactions are settled in wETH and USD-pegged stablecoins (USDC). Thus, the cryptocurrency/token settlement choice (i.e., unit of account) matters for willingness to pay.

Literatur Review : Peluang dan Tantangan Metaverse

This research was conducted because of the importance of the metaverse in its contribution to increasing GDP. Metaverse business growth in the last 10 years compared to GDP has contributed 2.8% globally. This is what is interesting to study regarding the opportunities and challenges faced in the application of the metaverse. This research was conducted by using a literature review review to obtain a theoretical basis that could support solving a problem that is being or will be studied. Opportunities and challenges of the metaverse in the literature review can be concluded that previous researchers have used a good research methodology using a good theoretical basis and research steps. Most studies show that the metaverse is still in demand as a topic of interest by well-known research and is still a trending theme in the research world. The application of the metaverse platform covers multi-disciplinary fields, including education, health, business/marketing, games, information systems, concerts, fashion events, advertising, virtual real estate ownership etc. This research suggestion needs a detailed discussion of the problems and challenges faced in the Metaverse application in the coming period, in the next 10 years it is predicted that the metaverse will still be a hot topic of conversation globally, the need for metaverse development in various fields, and the need for copyright, brand rights and trade rights in relation to the metaverse-based application platform.

Resolution of economic disputes arising during the performance of real estate lease agreement

At the present stage of development of the market economy in Ukraine, the role of non-residential real estate lease of various forms of ownership has increased significantly as part of the activities of many businesses, which largely meets their basic need for property. During the crisis, the number of commercial disputes related to the lease of real estate increased significantly, but the jurisprudence to resolve them remains different, in particular, given the conflict of law on lease.
 Disputes related to breaches of leases (non-performance or improper performance) are the most numerous of all disputes arising out of a lease. These commercial disputes are mostly dominated by property lawsuits, such as rent and penalty arrears, penalties for late return of leased property, the value of inseparable improvements, losses, fees for the actual use of property, as well as lawsuits for the obligation to take certain actions. (Encouragement to take property for rent, vacate the occupied premises with their transfer by deed, etc.).
 Commercial disputes over damages caused by breaches of obligations by the parties under a real estate lease have recently become the subject of litigation. These disputes can be divided depending on who is the initiating party - the landlord (owner) or tenant. The most common in this category are claims of the owner of real estate for damages in the form of unearned income, and despite the difficulty of proving the plaintiff's validity of their claims in commercial litigation.
 Judicial practice shows that in most cases it is difficult for a tenant in the business process to prove the impossibility of actual use of non-residential premises, while the acceptance of the leased object went unnoticed its shortcomings that exclude or significantly limit the use of property for its intended purpose.

The Effect of the Swiss CO2 Levy on Heating Fuel Demand of Private Real Estate Owners

To effectively mitigate climate change, it is crucial to better understand the reaction of fossil-fuel demand to price and tax changes, and more precisely to climate policy instruments such as a carbon levy. The Swiss CO2 levy on heating fuels was introduced in 2008 at CHF 12/tCO2eq, and was increased steadily up to CHF 84/tCO2eq during the period of 2016/2017. This paper investigated the effectiveness of the levy as an instrument to reduce heating fuel demand, and hence carbon emissions, of private real estate owners. The Swiss Household Budget Survey 2006–2017 constituted the main data source. Before–after and pseudo-panel regressions were used to capture the CO2 levy’s effects, and a large set of household characteristics, as well as climatic conditions, were controlled for. No significant effects in the first two policy periods of 2008–2013 were found. Over the period of 2014–2017, a significant reduction in house owners’ heating fuel demand of up to 14% with respect to 2006–2007 was detected. The effect was less significant and smaller in magnitude for flat owners. A significant CO2 levy semielasticity of heating fuel demand of −1.3% for house owners was further estimated. Hence, the results confirmed the effectiveness of the CO2 levy under the conditions that the levy was sufficiently high, as during the years of 2014–2017, and households directly paid the levy and were responsible for decisions concerning heating and insulation, as was the case for house owners.

Legal problems of protection of land plot possession under real estate object

The article is devoted to the issue of protection of state and communal land plot possession under real estate in situations where the private owner of real estate has neither ownership nor the right to use such land, and the authorized owner (state or local community) does not transfer such right or transferred it to a third party. 
 The author examines the phenomenon of land possession under real estate in the context of the principle of unity of the legal fate of the land and real estate located on it. According to the author, in determining the model of protection of land possession under real estate, this principle is the starting point for building such a model.Possession of land plot under real estate in terms of “registration” and “actual” models of ownership is analyzed in the article. According to the author, the disposal of land plot from “registration” possession is impossible only due to the change in the register of landowners, because possession of land plot by the owner of real estate located on it is fixed (and announced) directly by law and record of ownership on the real estate.The author explores an alternative approach to determining the rights of the real estate owner in relation to the land plot under it, namely the property “right of expectation”. According to the author, such an approach is currently controversial in terms of the systematics of real property rights and the specifics of their protection.The article examines the specifics of the subject and grounds of the claim in the event when the owner of the land transferred the right to land not to the owner of the real estate, but to a third party. The author substantiates the approach according to which in such cases a proper way of protection will be a lawsuit to remove obstacles, and the legal grounds of the claim may be fictitious transaction, violation of public order and fraud.The author also pays attention to the modern understanding of the discretion of the powers of the authorities and expresses the opinion that in modern realities in some cases the courts must meet the requirements by which government decisions are recognized as adopted and permits issued.

Who Owns the City, and Why Should We Care?

Who owns the city, and why is it important to know? The city constantly makes decisions that affect municipal residents regarding municipal services, land use, and financing. The cost is often linked directly to the municipal residents, but the benefits of some decisions directly affect the property owners and only indirectly affect the municipal residents. On the other hand, the property owners can be residents in the city or the country, but they can also be foreign property owners. Therefore, the distribution of costs will differ from the distribution of benefits. The study aims to investigate and analyse real estate owners in some focus areas in the Stockholm municipality in terms of nationality, patterns of real estate usage, area of properties, and the nature of ownership.

Digitalization, innovation capabilities and absorptive capacity in the Swedish real estate ecosystem

Purpose The purpose of this paper is to increase the knowledge of real estate firms’ capabilities to innovate and, consequently, their capacity to absorb new innovations and benefit from digital technologies in an ecosystem context. Design/methodology/approach The results are based on 32 interviews with representatives of Swedish real estate owners, real estate owner industry associations and suppliers of digital technology to real estate owners. The data are interpreted using theories on absorptive capacity (i.e. the capacity to absorb new innovations), innovation capabilities and innovation ecosystems. Findings The real estate owners, technology suppliers and real estate owner industry associations have expanded their innovation capabilities and reshaped their innovation ecosystem by initiating a number of different digitalization activities; for example, the development of new IT systems, digital platforms, services and business models. The absorptive capacity has been improved as the organizations have changed routines and structures related to innovation, and they have taken on new roles related to digitalization and innovation, making them better able to absorb new innovations. Also, this paper identifies several drivers and obstacles to digitalization in the real estate sector. Research limitations/implications The increased capabilities related to digitalization can lead to better absorptive capacity on an individual firm level, which can contribute to the overall development of these firms in a longer-term. Also, new capabilities may lead to better absorptive capacity in the real estate sector at large, as firms may benefit from each other’s capabilities through collaboration. The limitations are that this study does not interview tenants or facility management firms and that the findings represent the context of the Swedish real estate market. Originality/value This paper investigates innovation capabilities, absorptive capacity and innovation ecosystems of real estate owners, their technology suppliers and real estate owner industry associations on the organizational level and on the sector level, into which there is little previous research. Also, this paper highlights the novelty of digitalization as a phenomenon in the sector.

Culture, Wealth, Gender, Real Estate, and Consumption in China: It’s a Boy

Culture and derivative institutions affect household wealth, consumption, and property rights and ownership. Cultural factors also influence the role children play in determining household consumption and wealth accumulation, including acquisition of real property. The present study extends research on these influences by focusing on cultural norms in China. Chinese cultural norms, including indulgent care of single children, a strong preference for sons, increasing competition in the marriage market, and the importance of homeownership in marriage, suggest that the number, gender, and age of children likely affect a household’s consumption and investment behavior, especially as related to consumption and investment in real property. Using China Family Panel Studies’ (CFPS) longitudinal data, we found that, after controlling for other factors, total wealth (consumption) for households with children was 17.8% (23.5%) more than that of households without children. More interestingly, further results show that households with male children have more wealth accumulation and more expenditure on total consumption, including real estate–related expenditures, with a higher likelihood of owning additional residential real estate when compared to households with no or female children. The positive effect associated with children on household wealth is largely due to increased housing wealth, including the ownership of additional residential units. The pattern of wealth and real estate ownership follows Chinese cultural and social norms.

Establishment of an integrated index for family socioeconomic gradients based on the Birth Cohort Study in Guangzhou

Objective To construct an integrated index of family socioeconomic gradient for providing a valid assessment of socioeconomic status (SES) of the mother and her child/children in a family. Methods The participants of the study were 16 175 pregnant women and their children enrolled between February 2012 and June 2016 from the Birth Cohort Study in Guangzhou. Information on social and economic condition of the children′s parents were collected. Principal components analysis (PCA) and standard score (Z-score) summative method were used to construct a family SES score. The consistency among different combinations of socioeconomic variables in the evaluation on families′ socio-economic gradient were compared. Results Significant pairwise correlations were observed among 9 parental socioeconomic variables (maternal education, paternal education, average maternal monthly income, average paternal monthly income, maternal employment, family real estate ownership, private car ownership, per capita living space, and residential floor), except for the associations of maternal employment with per capita living space and residential floor; the coefficients for the correlations ranged from – 0.036 to 0.585 (P Conclusion The integrated index established in the study using PCA method and Z-score summative method based on 9 parental socioeconomic variables could be used to conduct valid assessment on family socioeconomic gradients of Chinese women and children.

Evaluation of the financial benefits of a ground-source heat pump pool with demand side management: Is smart profitable for real estate?

• The profitability of smart electricity control for real estate owners. • The climate mitigation potential of demand side management. • An energy model for building heating using hourly-level data. • Power peak shaving of a heat pump pool. • Real estate owner motives. • New cash flows. Adoption of various smart control-compatible heating systems is increasing in the heating market. Simultaneously, smart electricity control, often referred to as demand side management (DSM), has raised interest as a core enabler of future sustainable cities. The technological viability of DSM is increasingly researched, but its profitability for real estate has remained unclear. This study examines the economics and environmental implications of DSM by analyzing an energy model using hourly-level energy consumption data in Finland. Accordingly, this study observes new cash flows generated after a daily 2-hour peak shaving of a ground-source heat pump pool in the Helsinki region. Although, DSM decreased the pool's peak electricity consumption, the economic potential of smartness was only 0.03 €/sqm/year, equaling 1% of savings in the energy costs. Furthermore, DSM generated surprisingly low (i.e., 0.02%) reduction in carbon emissions. Despite of the current minor benefits for the real estate owners in the Finnish power market, the end-user smart electricity control likely has a crucial role in the future electricity system with large quantities of intermittent renewable production. Thus, engaging real estate owners in DSM through alternative (monetary) incentives, and other strategic benefits, is essential to support the future energy system decarbonization.

Особенности законодательства о регистрации прав на недвижимость и сделок с ним

The relevance of the study of legislation on registration of rights to real estate lies in the fact that ownership of real estate — a fundamental constitutional human right — arises only after the onset of a legal fact, which is state registration. The article, using classification, systemic and comparative methods, examines in detail the Federal Law No. 218-FZ, which is the main one in the system of laws governing the registration of rights to real estate and transactions with it. The article also analyzes the changes made to the legislation to eliminate shortcomings in legal regulation. As a result of the study, it was revealed that deficiencies in the legislation cannot be completely eliminated, which indicates the dynamism of civil legal relations related to real estate. Problems identified in practice can be resolved through judicial interpretation of legal norms or through the application of constitutional norms.

The REIT Conversion Puzzle

Real Estate Investment Trusts (REITs) are a globally recognized form of real estate ownership that offer tax benefits at a corporate level. Despite their clear advantages, however, a significant share of potentially eligible Real Estate Operating Companies (REOCs) do not opt for conversion to a REIT structure. This paper examines 80 REOC-to-REIT conversions across 13 countries. We find REIT conversions are generally driven by the extent of country-specific tax benefits. They are also more likely following prior conversions by other REOCs, and in countries with a larger share of extant REITs. REIT conversions may be motivated by Net Asset Value (NAV) discounts, especially if management’s compensation is highly equity-based. This illustrates the importance of aligning the interests of management and shareholders. On the other hand, relatively restrictive REIT criteria, such as the disclosure and taxation of hidden values during the conversion process, are associated with significantly lower conversion probabilities. Countries that have eased REIT criteria have subsequently seen significantly more conversions.