Purchase Of Real Estate Research Articles

The Impact of Real Estate Purchase Restriction Policy on Urban Economic Development—A Case Study of Beijing

Since 2010, Beijing's purchase restriction policy has been adjusted several times to adapt to the market and promote stability. In April 2024, the policy was eased for housing areas outside the Fifth Ring Road, marking the first major adjustment in 13 years. This paper analyses the economic impact of Beijing's real estate purchase restriction policy, focusing on its effect on investment, consumption, industrial structure, and employment. The study indicates that the purchase restriction policy initially hinders investment and consumption in the short term but contributes to market stability and industrial optimization in the long run. The policy change has increased housing sales and growth in related industries outside the Fifth Ring Road, promoting economic development in the suburbs. Furthermore, the policy has a nuanced impact on the employment market, encouraging labor mobility toward high-tech and service industries while affecting employment in real estate-related sectors. The study suggests that policymakers need to consider the impacts of various aspects to ensure the healthy development of the real estate and employment markets.

The impact of financial policy on the sustainable development of business entities in post-pandemic Georgia

Financial institutions form a strong link in the chain of business operations of the modern world; in addition, they may also be thought of as a binder. During the Covid -19 pandemic the financial institutions all over the world, and in Georgia as well, faced a number of problems and challenges: on one hand, there was a large number of consumers and mortgage loans to individuals, and on the other hand, loans issued to business entities for working capital and fixed assets, real estate purchase and other purposes turned out to form the major part of their loan portfolio. The pandemic has led the natural persons, as well as legal entities into a force majeure situation, while the decisions of financial institutions were crucial for their viability. However, the purpose of the study is to consider the impact of lending policies on business entities and their development processes. The paper discusses the policies of financial institutions during the Covid-19 pandemic and the post-pandemic period, the chronology of the decisions made and the outcomes of such decisions based on available official data, also the impact of lending on business entities and identifies modern trends and challenges. The research methodology was determined based on the research objectives and included the following methods: the paper analyzes the decisions made by the National Bank of Georgia before and after the pandemic, in relation with the official data on loans and financial transactions that the National Bank generated. Within the framework of the research, in order to determine the level of influence of the financial institutions on current economic processes in Georgia, the paper analyzes the results of their activities, which are based on official data from the National Bank of Georgia and empirical material collected. Keywords: Financial institutions; Lending policy; National Bank of Georgia; Post-pandemic economic policy; JEL Classification: G2; G21; E5; E58; E6; Acknowledgement: „This work was supported by Shota Rustaveli National Science Foundation of Georgia, (SRNSFG) Grant number YS-22-548, Project title - “The crisis of small and medium business subjects and its prevention in the post-pandemic period in Georgia“.

Foreign experience of providing public services by notaries in the field of state registration of property rights to immovable property

The scientific article is dedicated to highlighting the foreign experience of providing public services by notaries in the field of state registration of real property rights in the following countries: Bulgaria, Belarus, Russia, Poland, Czech Republic, Switzerland, Italy, Spain, Germany, France, USA, Australia, etc. As a result of the study of world experience, it was concluded that in order to effectively protect the rights to real estate of both private owners and the state, it is necessary to create a single registration system that will guarantee the reliability and transparency of the civil turnover of real estate. Ways of implementing foreign experience have been determined in order to improve the activities of the subjects of the public administration of Ukraine regarding the provision of public services by notaries in the field of state registration of property rights to immovable property. Attention is drawn to the fact that the Anglo-American system of registration of deeds regarding real estate objects consists in making an entry in the register at the free choice of the participants of the deed. It would be more appropriate to call this system a document accounting system, since registration is a technical operation. According to Anglo-American rules, the owner is the last bona fide purchaser of real estate. The transfer of ownership occurs as a result of the conclusion of the deed and possession of the object by the transferee. In the USA, the buyer must restore the entire chain of previous documents for the purchase of real estate. The deed can be declared invalid if the persons included or not included in the chain of transactions can assert rights to the real estate object. The lack of legal means is compensated by lawyers and insurance companies that specialize in checking the seller’s rights. Currently, the property loss insurance system is actively developing in the United States of America.

Navigating real estate purchase decisions: an interplay of influential factors

Navigating real estate purchase decisions: an interplay of influential factors

Acquisition of land ownership rights by foreign persons according to the laws of Ukraine and Canada

The article conducts a comparative legal study of the specifics of acquisition and exercise of land ownership by foreigners, stateless persons and foreign legal entities under the legislation of Ukraine and Canada, as a result of which the Canadian experience of legal regulation in the specified area, which is most acceptable for Ukraine, is substantiated. It has been established that in the science of land law of Ukraine, one of the most controversial issues is the possibility, scope, conditions and grounds of granting land ownership rights to foreigners, stateless persons, and foreign legal entities, especially considering the provisions of Art. 13 of the Constitution of Ukraine, which declares all land to be the property of the Ukrainian people. This issue has not been resolved definitively in the land legislation, as access of foreign persons to ownership of agricultural land can be granted only after a positive decision of the All-Ukrainian referendum. The conducted research showed that Canadian legislation provides for the possibility of establishing restrictions on the acquisition of land ownership by foreign entities both at the federal level (a two-year restriction on the purchase of residential real estate, including vacant land plots intended for residential development), and at the level of individual provinces and territories. At the level of the provinces and territories, there are different legal models for restricting the access of foreign persons to the right to ownership of land, primarily for agricultural purposes. There are no legal restrictions on the acquisition of the right to ownership of land by foreign persons in British Columbia, Ontario, Newfoundland and Labrador, New Brunswick and Nova Scotia. At the same time, in Alberta, Saskatchewan, Manitoba, and Quebec, the access of foreigners to land ownership is significantly limited, in particular, by establishing the maximum size of land plots that they can acquire on ownership. The article claims that the establishment of restrictions in Canadian legislation on the acquisition of ownership rights to land, primarily for agricultural purposes, is conditioned by the need to ensure priority access to the lands of Canadian citizens and Canadian corporations, which can be a reference point for the settlement of these issues in Ukrainian land law. Canadian legislation, both at the federal level and at the level of individual provinces and territories, provides effective mechanisms of legal responsibility in the event of violation of legal restrictions on foreign persons' access to land ownership, which should be provided for in Ukrainian legislation.

Modeling the Factors Influencing Real Estate Purchase Intention and Decision in Vietnam: A PLS-SEM Approach in the Context of COVID-19

Modeling the Factors Influencing Real Estate Purchase Intention and Decision in Vietnam: A PLS-SEM Approach in the Context of COVID-19

Virtual Real Estate: New Trend or Global Scam?

The paper studies the concept of «virtual real estate», the market of which is developing against the backdrop of the emergence of metaverses. The current trend in the development of the Internet involves the merging of gaming and social life, which forms a huge, rapidly growing economy of consumption of virtual goods. The main factor in adjusting the trend of digital development is the evolution of the interaction between the Internet and users, therefore, the article initially considered the features and distinctive features of web 1.0, web 2.0, web 3.0. The technical solutions that distinguish web 3.0 are shown, contributing to the expansion of opportunities for involving consumers in the virtual world and the formation of their own virtual economy. Further, the concept of «metaverse» is investigated, key characteristics are highlighted. It has been established that the metaverse is a hybrid of the virtual and physical worlds, creating a space for communication, life and work. The metaverse market is growing, which makes it attractive to investors, one of the ways to invest for which is to purchase virtual land and real estate. Virtual real estate cannot be touched, but it has value, increases in price, which makes it an attractive investment. The purchase of virtual real estate is carried out for real money. Virtual real estate is a piece of land in a virtual space on which it is possible to build objects and participate in the game. The article is an opportunity to understand what virtual real estate is – another global scam or an attractive investment.

The Impact of Real Estate Purchase Restriction Policy on Urban Economic Development—A Case Study of Beijing

Since 2010, Beijing's purchase restriction policy has been adjusted several times to adapt to the market and promote stability. In April 2024, the policy was eased for housing areas outside the Fifth Ring Road, marking the first major adjustment in 13 years. This paper analyses the economic impact of Beijing's real estate purchase restriction policy, focusing on its effect on investment, consumption, industrial structure, and employment. The study indicates that the purchase restriction policy initially hinders investment and consumption in the short term but contributes to market stability and industrial optimization in the long run. The policy change has increased housing sales and growth in related industries outside the Fifth Ring Road, promoting economic development in the suburbs. Furthermore, the policy has a nuanced impact on the employment market, encouraging labor mobility toward high-tech and service industries while affecting employment in real estate-related sectors. The study suggests that policymakers need to consider the impacts of various aspects to ensure the healthy development of the real estate and employment markets.

Real estate up to the mark: review and analysis of the real estate market in some Gulf countries

The purchase of real estate by foreigners and its full ownership in the Gulf countries has become feasible only recently. The diversification of the economies of oil exporting countries is forcing them to strengthen the role of non–oil sectors, in particular the real estate sector.A sharp increase in demand for real estate occurred, including two years ago, with the arrival of wealthy Russians on the UAE market, who decided to minimize the risks to their finances by investing in real estate in the Emirates.At the same time, despite the opening windows of opportunity for foreign investors, according to some experts, the UAE market may be overheated and a bubble, characteristic of fast-growing markets, will form, the further development of which may lead to a market decline.

The Main Problems of the Real Estate Market Functioning in the Republic of Korea

The article examines the problems of the functioning of the real estate market of this country on the basis of official data of the Statistical Bureau, the Civil and Housing Codes of the Republic of Korea. The paper considers the features of state regulation of ownership of real estate. The calculation of the level of urbanization and the coefficient of specialization according to the level of development of the real estate market of the regions of the Republic of Korea is carried out. The indicators characterizing the availability of real estate are presented, as well as the rating of regions by the level of development of the real estate market. The main problems include: the high cost of real estate, the low percentage of the population owning real estate, large regional differences in the level of development of the real estate market, identified regions where the purchase or rental of real estate is disproportionate to the income received. The article includes author’s maps illustrating the results of the study.

Examining the impact of website layout and dark triad approach on real estate purchase decisions in India: a young adult socialization mediated model

Purpose This study aims to determine website quality, young adult socialization and dark triad personality as the factors influencing the real estate purchase decision. In addition, this study also measures the mediating effects of young adult socialization on real estate purchase buying behavior. Design/methodology/approach Related literature, quantifiable variables with a five-point Likert scale, hypothesis testing and mediators are used to study the model. A systematic questionnaire that was divided into four sections was used. A total of 336 valid responses were collected and analyzed through a structural equation model. Findings The results suggest that dark triad personality and young adult socialization considerably affect real estate purchase decisions. The development proves website quality does not significantly impact real estate purchase behavior. Research limitations/implications This study is limited to a few young consumers’ responses. Future studies could be more widespread globally and should include more variables and offline methods of purchasing behavior. Originality/value As per the review of existing literature, this research is the first, to the best of the authors’ knowledge, to determine the factors affecting the real estate purchase decision with factors like website quality, dark triad personalities and young adult socialization involving it.

Քաղաքացիություն՝ ներդրումների միջոցով. ծուղա՞կ, թե՞ բացառիկ հնարավորություն / CITIZENSHIP BY INVESTMENT: TRAP OR EXCEPTIONAL OPPORTUNITY?

Each country has its own laws and approaches to citizenship that differ significantly from each other. Along with global developments, even passports and citizenship are often turned into business and a bargaining object. Through large investments, donations or the purchase of expensive real estate by private individuals, it is possible today to acquire citizenship or, as it is called more branded, a "golden passport" in many European or Latin American countries, enjoying a wide range of privileges and powers. However, the attractiveness of such investment schemes also carries serious risks, with countries becoming targets for corruption risks and money laundering.

MORTGAGE REAL ESTATE MARKET: LENDING TO HOUSEHOLDS BY COMMERCIAL BANKS OF UKRAINE DURING THE STATE OF MARTIAL

MORTGAGE REAL ESTATE MARKET: LENDING TO HOUSEHOLDS BY COMMERCIAL BANKS OF UKRAINE DURING THE STATE OF MARTIAL

Reasons and Possible Countermeasures for the Imperfection of Pre-sale System in China

Ever since the presale mechanism was invented in 1953, it has been welcomed all over the world, especially in real estate purchases. In recent years, the real estate industry in China has been developing since the reform and opening-up policy made by Deng. As it developed, problems also arose as huge numbers of uncomplete building sites started to emerge throughout China's mainland, causing millions of people to end up in poverty or bankruptcy. The research is conducted to seek what actually caused the mentioned situations as well as find possible countermeasures to help avoid them to some extent. This passage lists several main existing problems including flaws in the system, vulnerable reaction systems, and the lack of government management. and to each of them, a correspondent measurement is given as a better solution or a tip for not repeating the same mistake. There are mature systems of presale in regions from Hong Kong to the USA.

Building and carbon emissions: Evidence from real estate purchase restriction policy

Carbon emission reduction in the building sector plays an essential role in the global mitigation effort, and a policy of limiting the expansion of buildings could be a critical intervention. Previous studies mainly focused on the process and materials in the building sector to discuss ways of building decarbonization rather than the restriction of building expansion. The Real Estate Purchase Restriction policy in China produced powerful enforcement to control the disorder expansion of building construction in China. Using the difference-in-differences model, this study finds that the policy caused approximately 5.7 million tons of carbon emissions decrease per year in the pilot cities, which could save about 52.55 million dollars social cost of carbon. Through the examination of the impact mechanism, we found that the implementation of real estate purchase restriction policy contributed to carbon emissions' reduction via reducing population growth and reducing freight volume.

The hour of European truth for Slovenian intellectuals

In this paper, the author presents and analyses the political activity of Slovenian opposition intellectuals during the period of Slovenia's EU accession (1995-97). In the summer of 1997, a group of intellectuals from the Nova revija circle published a public letter "An Hour of European Truth for Slovenia", in which they criticised the social and political situation and the government's poor policy of EU and NATO approximation. The signatories of the public letter perceived the then rule of the Liberal Democratic Party (LDS), which was the successor of the official youth organisation under socialism, as undemocratic rule by former communists who held all the strings of power. In approaching the EU, they opposed the agreement with Italy on the purchase of Slovenian real estate (the so-called Spanish Compromise). Although they were in principle in favour of EU membership, they also collaborated in their activism with a group of outspoken Eurosceptics. In the first part of the paper, the author presents Slovenian politics in the 1990s, while in the second part he briefly describes the process of Slovenia's accession to the EU and NATO. In the third part, the author describes the background and activities of the group of intellectuals in question. The fourth part analyses the public letter and the public reactions. In the conclusion, the author poses a question whether the actors mentioned were Eurosceptics. In his opinion, the concept of Euroscepticism does not help to understand the complex and ambivalent attitudes of political actors towards Europe and the EU. In conclusion, the author highlights the trajectory of Slovenian anticommunist political thought up to the present day.

Housing as asset and payment: Construction, speculation, and financialization at the European periphery

AbstractConstruction booms have dominated Albania's economy and politics since the late 1990s. These booms continued even during times of illiquidity. One of the sources of financing construction in Albania is the practice of klering (in‐kind payments). In this practice, developers pay subcontractors in (future) apartments in exchange for materials and labor. I argue that, in klering transactions, housing serves as an asset and a means of payment. The practice of klering emerged at the interface of postcommunist transformations, neoliberal reforms, and the fetishization of housing as an asset of more durable and multifaceted economic and cultural value. While grounded in the local histories and values of housing, klering is made possible by a fuzzy property regime, systemic corruption, and widespread informality. At the same time, klering echoes other global patterns pertaining to housing, such as the rise of asset economy, financialization, and money laundering through real estate purchases. The klering economy echoes speculative logics and practices that are prevalent across and that link centers and peripheries, formal and informal markets. These economic logics generate uncertainty and ambiguity; they mobilize social networks and cultural imaginaries; and they thrive on and further reproduce deep social and economic inequalities.

Applying the global wealth chain typology to property purchases in the Liverpool and Merseyside Area

The wealth chain is a conceptualisation of extended flows of capital operating across multiple tax jurisdictions in order to extract maximum value from investment locations. To date, such chains have largely been considered in relation to either international tax-avoiding flows of capital to offshore havens or in relation to prime property markets in major metropoles. In this article, we use new data to explain the geographical variations in asset strategies and investment types associated with different types of wealth chain in a historically deprived city region. The data relate to the purchase of real estate in the Liverpool and Merseyside Area (LMA) of the UK by companies from offshore jurisdictions. We use data to empirically model the wealth-chain concept. We compare the results from our empirically derived model with the key theoretical propositions regarding such chains. Our results confirm the actions of identifiable types of wealth chain. By geographical distribution, the specific asset strategy that dominates suggests that wealth-chain offshore investors in Liverpool’s real estate are primarily motivated by their desire to protect their identities and their assets. In the literature on the subject, these are much sought after attributes of money launderers and others involved in illicit wealth accumulation. In money terms, the dominant asset strategy is situated in a much smaller geographical space in and around the city centre. In the literature, this type of wealth chain is associated with the multinational corporations who are, theoretically, the main source of innovation in wealth-chain operations.

THE EFFECT OF BOARD SIZE, PROFITABILITY AND CAPITAL INTENSITY ON TAX AGGRESSIVENESS IN PROPERTY AND REAL ESTATE SECTOR COMPANIES LISTED ON THE INDONESIAN STOCK EXCHANGE IN 2017 - 2019

The Indonesian property and real estate sector refers to the industry involved in the development, sale, purchase, and management of properties, including residential, commercial, and industrial real estate. This sector is significant in the Indonesian economy due to its contributions to employment, investment, and economic growth. This study aims to comprehensively examine the impact of board size, profitability, and capital intensity on tax aggressiveness within the context of the Indonesian property and real estate sector. Employing a quantitative approach, the research utilizes multiple linear regression analysis with Eviews software version 12 to analyze data from 60 entities in the sector listed on the Indonesian stock exchange from 2017 to 2019. The findings reveal intriguing insights. Board size is found to exert a discernible influence on tax aggressiveness, emphasizing the role of corporate governance in shaping tax strategies. However, the study challenges conventional assumptions by demonstrating that profitability does not significantly impact tax aggressiveness. In contrast, capital intensity emerges as a significant determinant of tax aggressiveness, highlighting the role of financial structure in tax planning decisions. These findings contribute to the understanding of the intricate relationship between corporate governance, financial metrics, and tax strategies in the examined sector. The research underscores the importance of nuanced decision-making in tax planning, acknowledging the varying impacts of different variables. By providing empirical evidence, this study offers valuable insights for practitioners and policymakers aiming to enhance tax strategy effectiveness and transparency.

Generational differences in behavioral factors affecting real estate purchase intention

PurposePurchasing real estate is one of the most important and complex decisions in a life of an individual, which should take numerous factors into account. The purpose of this research is to identify which behavioral factors significantly affect the intention to buy real estate. Since the real estate market is continuously changing, along with other economic and life conditions, it is expected that different generations have different characteristics which affect their behavior; therefore, it is important to analyze generational influence on buyers' behavior.Design/methodology/approachA survey analysis was conducted on a sample of 434 respondents in Croatia. Partial least squares structural equation modeling was used to obtain the results. The moderating effect of generational affiliation was observed.FindingsOverconfidence significantly affects intention to buy real estate, but it doesn't affect the level of importance individuals give to financial factors. On the other hand, herding significantly affects the level of importance given to financial factors, whereas it does not directly affect buying intention. A significant moderating effect of generational affiliation was found for the impact of overconfidence on financial factors, suggesting a negative effect for younger generations and a positive effect for older generations.Originality/valueThis research proposes a novel unique model with both behavioral and financial factors as predictors of the intention to buy real estate, together with generational differences in buyers' behavior. Understanding normal human behavior is crucial to determine how buyers' decisions and intentions change under the influence of certain biases or characteristics such as generational affiliation.