Real Estate Activities Research Articles

Профессиональная подготовка риелторов в Российской Федерации: сравнительно-правовой анализ

The article discusses the problems of the system of professional training and educational programs in real estate activities. In the scientific literature and in practice, there is no consensus on both the content of real estate activity and the list of knowledge, skills, abilities and competencies that a realtor should possess. At the same time, the relevant professional training of a realtor is in direct connection with a clearly defined range of his duties and must meet the state of the real estate market and the needs of clients. It is not yet fully possible to clarify these issues due to gaps in legislation that lead to uncertainty of the concept of the nature and content of real estate activity, as well as the lack of legal consolidation of the content of real estate services.

Examining the integration of real estate into financial assets: A critical analysis of China's regulatory framework for nonreal estate corporations

This study explores the integration of real estate into financial assets within the context of China's regulatory framework for nonreal estate corporate listed companies (NRELCs). The purpose is to assess the impact of NRELCs’ involvement in the real estate market on housing prices as influenced by monetary policy. The need for a solution is driven by the significant role of real estate in China's economic strategy and the challenges posed by speculative investments. Utilizing a mixed-method approach, this study employs empirical models to analyze data from 2007 to 2018. The key findings indicate that NRELCs’ entry into the real estate market significantly stimulates housing prices, with monetary policy acting as a critical driver. The interaction between credit expansion and NRELCs’ real estate activities exacerbates price fluctuations. Our findings highlight the necessity of controlling the financial attributes of real estate and suggest regulatory measures to curb speculative demand. The potential impact includes informing policy decisions to stabilize the housing market and promote sustainable economic growth.

Trend of Foreign Direct Investment in Tanzania's Real Estate Industry From 2000 - 2020: A Systematic Review

Foreign direct investment (FDI) has become an area of concern to many developing nations due to the economic benefits it presents to the host nation. Despite the notable growth and potential of the Tanzanian real estate market, there is lack of comprehensive, empirical studies that analyze the specific patterns of FDI inflows in the real estate industry in Tanzania over an extended period and their contributions to national GDP and other economic indicators. This systematic review aims to examine the trend of foreign direct investment (FDI) in Tanzania’s real estate industry from 2000 – 2020. Further, this review helps to determine the contribution of FDI to growth of GDP and other economic indicators in the country. Result shows that there was an irregular trend of FDI inflows in Tanzania’s real estate activities with various asymmetrical decrease and increase throughout the period from 2000 – 2020. However, the FDI inflows in real estate activities is not significantly associated with national GDP, national GDP growth rate, total FDI inflows in the country or contribution of the real estate activities in national GDP. There was a higher growth rate (between 4.2% - 7.5%) of real estate activities from 2000 – 2010, but was followed by a sharp decline to less than 2% in 2011 and then a steady growth rate of above 4% from 2015 – 2020. The percentage shares of GDP by real estate activities was relatively higher and steady from 2000 – 2010, followed by sharp decline from 2010 – 2011 and further decrease towards 2020. Further analysis indicated that there was a general increase in contribution of real estate activities in national GDP from 2000 – 2020. It is concluded that, FDI inflows in Tanzania’s real estate activities show an irregular trend with various asymmetrical decrease and increase throughout the period. The annual growth rate (%) of real estate activities in national GDP displays an irregular trend from 2000 – 2020. Further, there is a general increase in contribution of real estate activities in national GDP during the review period.

Which companies among the SMEs operate in accordance with the Sustainable Development Goals


 
 
 The purpose of the article is to identify the factors that have a significant impact on the decision of SMEs to operate in accordance with the Sustainable Development Goals (SDGs). The identification was made on the basis of data collected in December 2022 during a survey of a sample of 303 SMEs from all over Poland. In order to identify the above-mentioned factors, the following were analyzed: type of business, industry to which the primary economic activity of the surveyed company is assigned, age of the company, type of ownership, scope of activity, organizational and legal form, number of employees, average annual net income. Correlation tests confirmed the hypotheses of the relationship between the number of employees and average annual net income and operation in accordance with the SDGs. Further verification of the relationship, performed using a logit model, confirmed that average annual net income and industry are significant variables. There is a relationship between these variables and acting in accordance with the SDGs. The chance of making a decision by a company about operating in accordance with the SDGs increases as the average annual net income increases. The probability of operating in accordance with the SDGs is higher if the company operates in the following industries, i.a.: real estate activities, transportation, financial and insurance, construction, agriculture.
 
 

ON THE ISSUE OF LEGAL REGULATION OF REALTOR ACTIVITIES IN THE REPUBLIC OF KAZAKHSTAN

The Department of Analysis of the effectiveness of legislation of the RSE with the REM “Institute of Legislation and Legal Information of the Republic of Kazakhstan” regularly considers issues related to the development of specific proposals in order to improve legislation, which should contribute to the implementation of the legal policy of the Republic of Kazakhstan as a whole. Currently, the Republic of Kazakhstan is working on the implementation of the addresses of the First President of the Republic of Kazakhstan - Elbasy N.A. Nazarbayev “Strategy 2050: new political course of an established state” [1] and “The third modernization of Kazakhstan: global competitiveness”, as well as addresses of the President of the Republic of Kazakhstan K-Zh. K. Tokayev “Kazakhstan in a new reality: time for action” dated September 1, 2020 [2]. As part of this work, the Government of the Republic of Kazakhstan is carrying out large-scale work on the development of legislation in various areas of legal regulation. In order to provide legal support for the work of the Government of the Republic of Kazakhstan, as well as ensure the practical implementation of the instructions of the Head of State, it is necessary to work out the issue of scientific support for legislative activities in the Republic of Kazakhstan. Moreover, the Head of State embedded his intention to involve science in legislation, instructing in his next Address to the people of Kazakhstan “Unity of the people and systemic reforms are a solid foundation for the nation's prosperity” [3] to introduce direct financing of research institutes engaged in fundamental science. This article is devoted to the analysis of the effectiveness of realtor activities in the Republic of Kazakhstan, as well as the question of the feasibility of introducing independent legal regulation. In particular, we examined the issues of the current legal regulation of real estate activities in the Republic of Kazakhstan. A brief comparative analysis of existing problems in the legal regulation of this activity in relation to regulatory legal acts of higher legal force has been carried out. Conclusions are drawn on the issue of compliance of the introduction of separate legal regulation for realtors with the strategic goals of the Republic of Kazakhstan. The opinions of individual Kazakhstani experts on this issue were used.

THE ANALYSIS OF THE WORKING CAPITAL LOAN (WCL) IN MANUFACTURING SECTORS IN BANTEN PROVINCE

The manufacturing sector is one of the economic sectors that plays a crucial role in economic development in Banten Province. This study aims to identify the impacts of the People’s Business Credit (KUR) Program on the manufacturing sector in Banten Province. The methodology used in this study is input-output analysis to determine how the KUR Program may influence the economic sectors, especially the manufacturing sector in Banten Province. The study uses the input-output table released by the Statistics Bureau at the regional level. In Banten Province, there are five sectors with the highest value of KUR. These sectors are Wholesale and Retail Trade, Accommodation and Food Service Activities, Other Service Activities, manufacturing, and Real Estate Activities. The result suggests that the KUR Program may have a good influence on the flourishing of manufacturing sectors in Banten Province. The KUR Program may have the most significant impact on the manufacturing sector when the KUR Program is distributed to the manufacturing sector itself. However, the allocation of the KUR Program to other economic sectors, especially Wholesale and Retail Trade: Repair of Motor Vehicles and Motorcycles, Accommodation and Food Service Activities, and Other Service Activities, may also have significant effects on the manufacturing sector. It may indicate that the KUR Program strategy in Banten Province may be suitable to develop the manufacturing sector in Banten Province.

A Regional Indicator of Commercial Real Estate Activity: The KC Fed CRE Index

A Regional Indicator of Commercial Real Estate Activity: The KC Fed CRE Index

Key sector analysis by IO networks: Evidence from Turkey

In this study, the key sectors of Turkey are determined using Input- Output (IO) network analysis. Different centrality measures are analyzed and compared. Accordingly, eigenvector, page rank, hub, and authority centralities are calculated. The effects of an economic shock are also analyzed using random walk centrality and counting betweenness. Findings indicate that the key sectors are ?Wholesale and Retail Trade; Repair of Motor Vehicles?, ?Transport, Storage and Communications?, ?Agriculture, Hunting and Forestry?, ?Construction?, ?Real Estate Activities?, and ?Textiles, Textile Products, Leather and Footwear?. Furthermore, the same sectors are determined to be vulnerable to economic shocks.

Influence of financialization on the business activity of non-financial enterprises in Poland

Motivation: Financialization is connected with the phenomenon of dominance of the financial sphere in relation to the real sphere. Financialization, when applied to non-financial entities, means the increase of importance of financial motives in the decision-making processes of enterprises. Changes result from transformations of the system of economic incentives and development patterns, both in the economy and among economic entities, which are focused on fast earning. Enterprises for that purpose, they use leverage and financial instruments to generate profit, limiting the operational and investment activity.Aim: The aim of this paper is to examine if the processes of financialization have affected the activities of non-financial enterprises operating in Poland based on a multifaceted analysis of the financialization of enterprises: from the point of view of investment activities (assets), sources of external financing (liabilities), income and management. Moreover, an attempt was made to answer the question if these processes apply equally to particular industries and enterprises according to their size.Results: The conducted research showed that non-financial enterprises operating in Poland do not show signs of financialization of their activities. There is a noticeable upward trend in active and passive financial instruments of the balance sheet total. However, it does not translate into an increase in financial income. Research related to factors affecting ROE as a measure of shareholder value assessment, showed that it is determined by operating performance. In addition, the research showed that there were no statistically significant differences in the financialization of operations between large companies and the SME sector. With regard to sectors, the research indicated that there were sectors that differed from the others. In terms of the degree of financialization of assets, liabilities and income, it is sector L — “Real estate activities”.

Chasing land, chasing crisis: Interrogating speculative urban development through developers’ pursuit of land commodification in Mumbai

Mumbai, along with a few other metropolitan cities in India, witnessed an unprecedented flow of finance capital toward the development of new real estate soon after efforts to liberalize the country’s real estate sector took force in 2005. Fifteen years later, however, the reality on the ground looks bleak. Not only does the demand for housing remain as high as ever before in Mumbai, but hundreds of real estate projects lie unfinished, abandoned, and/or unsold. In its attempt to make sense of the city’s real estate crisis, this paper brings to the fore important insights about the organizing logics of urban land markets. Drawing on an exhaustive database of real estate indicators combined with ethnographic fieldwork, the paper reveals a tendency among Mumbai developers to fight competition by chasing land irrespective of long-term financial prudency, which in turn hinders the development and sale of new real estate. The paper therefore proposes that the reproduction of capitalistic arrangements within Mumbai’s land market is precarious because the very lands that are to be turned into commodities inevitably become entangled in new socio-legal encumbrances, just as the separation of “land from man” begins to seem plausible. By demonstrating how real estate activity is nevertheless, centered problematically, around this unceasing yet always incomplete pursuit of commodified land, the paper contributes to the scholarly project of developing a heterodox conceptualization of land.

Predicting Time Series Model Real estate activities in KSA

Predicting Time Series Model Real estate activities in KSA

The Impact of Covid-19 on The Sectoral Economy in Indonesia

Covid-19 caused a contractionary economic condition, therefore the policies adopted by the government to restore the economy were expansionary fiscal and monetary policies to increase public consumption to stimulate economic activity. The economic sector that grew the highest during the Covid-19 period was the Human Health and Social Activities sector, the Information and Communication sector, the Water Supply sector; Sewerage, Waste Management and Remediation sector, Financial and Insurance Activities sector, Real Estate Activities sector, Education sector, and Agriculture, Forestry, and Fishing sector. While the economic sectors most affected by Covid-19 are the Transportation and Storage sector, the Accommodation and Food Service Activities sector, the Business Activities sector, the Transportation and Storage sector, the Business Activities sector, and Other Services Activities sector. While the economic sectors that recovered quickly due to the implementation of economic recovery policies were the Mining and Quarrying sector, the Manufacturing sector, the Electricity and Gas sector, the Wholesale and Retail Trade sector; Repair of Motor Vehicles and Motorcycles sector.Keywords: economic crisis, Covid-19, economic growth, sectoral growth, government policy.

Legal status of the real estate organization

The article talks about the positive experience of foreign countries in the field of real estate, which is directly related to the real estate sector today. It is known that in Article 83 of the Civil Code of the Republic of Uzbekistan, property is divided into immovable property and movable property as an object of civil rights, including land plots, underground resources, buildings, structures, perennial trees and other property integrally connected with the land, i.e. objects that cannot be moved without causing disproportionate damage to their intended purpose, the legislation stipulates that other property can also be included in the list of immovable property, and the features of acquisition of rights to immovable property and their cancellation shall be determined by legislation. The article describes the norms of the status and description of real estate in other countries, in particular, Germany and a number of countries. The purpose of the article was to research the problems of legal regulation of real estate activity. Also, the disclosure of problems arising in the field of real estate and its solution were also discussed. In conclusion, it was concluded that in the development of real estate activity, first of all, it is necessary to study foreign experience in the field of real estate regulation.

Predicting economic resilience of territories in Italy during the COVID-19 first lockdown

This paper aims to predict the economic resilience to crises of territories based on local pre-existing socioeconomic characteristics. Specifically, we consider the case of Italian municipalities during the first wave of the COVID-19 pandemic, leveraging a large-scale dataset of cardholders performing transactions in Point-of-Sales. Based on a set of machine learning classifiers, we show that network-based measures and variables related to the social, economic, demographic and environmental dimensions are relevant predictors of the economic resilience of Italian municipalities to the crisis. In particular, we find accurate classification performance both in balanced and un-balanced scenarios, as well as in the case we restrict the analysis to specific geographical areas. Our analysis predicts that territories with larger income per capita, soil consumption, concentration of real estate activities and commuting network centrality in terms of closeness and Pagerank constitute the set of most affected areas, experiencing the strongest reduction of economic activities during the COVID-19 pandemic. Overall, we provide an application of an early-warning system able to provide timely evidence to policymakers about the detrimental effects generated by natural disasters and severe crisis episodes, thus contributing to optimize public decision support systems.

Applying the hypothetical extraction method to investigate the interindustry greenhouse gas emissions linkages in the Greek economy

ABSTRACT This paper examines the interindustry greenhouse gas (GHG) emissions linkages within the Greek economy for the year 2018, using a symmetric I-O table and air emissions accounts data. The GHG linkages among industries are analyzed both from a demand and supply perspective by applying an environmental modification of the Dietzenbacher and van der Linden’s Hypothetical Extraction Method (1997), as introduced and discussed in Tsirimokos (2022). The findings reveal that: (i) the ‘Electricity, gas, steam, and air conditioning supply’ industry exhibits the highest total absolute backward and forward linkages; (ii) the ‘Real estate activities’ industry demonstrates the highest relative backward and forward linkages; (iii) industries with low (high) relative linkages generally, exhibit high (low) internal linkages; and (iv) the ‘Electricity, gas, steam, and air conditioning supply’ and ‘Transportation and storage’ industries are the primary GHG emissions contributors within the Greek economy. These empirical results can inform the development of effective environmental policies, supporting Greece in achieving its climate action plan objectives.

Software application development for real estate activities

The real estate industry is in the early stages of software application, in constant search of new tools to make the industry work more efficiently and effectively. The real estate market is differentiated by certain needs, respectively each segment of the real estate market is looking for software solutions to meet the main needs. In order to meet the requirements of the real estate market, the authors come up with a proposal to create a prototype (iMoPal), including software application development, for a product, namely an online real estate platform for property management, and the creation of a scoring system for tenant and landlord. The application offers a proficient time management solution between tenant and landlord.

Transformations of the Agricultural Frontier in Matopiba: From State Planning to the Financialisation of Land

This article explores how the agricultural frontier in Brazil is conceived and how it has been historically shaped by broader socioeconomic changes. It considers the planning process linked to the Cerrado occupation during the military dictatorship (1964–85). The article analyses understandings of the frontier that connected it to concerns about ‘demographic gaps’ and shaped an agenda of state-led ‘national integration’ that neglected local populations. This analysis is linked to recent transnational real estate activities in Matopiba to document how control over the territory persists but is now driven by different protagonists and logics. We document how Brazilian agribusinesses, in association with transnational capital, have created transnational agricultural real estate companies and acquired land in frontier areas such as Matopiba. Although the violence of expropriation and deforestation persists, there are new financial mechanisms that condition the agricultural frontier and exert control over territory, quite unlike previous forms of state-led occupation.

Examination of The Impacts of Road Rehabilitation On Real Estate Values in Owerri Metropolis, Imo State (2010-2020)

Transportation’s most significant impact on land development occurs when access is provided to land, as increased access to land raises its potential for development. Since 2010, Owerri Metropolis has witnessed unprecedented development within the socio-economic and political life of the state through road rehabilitation projects. Development and rehabilitation of road is essentially important to real estate activities, and the real estate market has experienced quite a number of developments as a result of the road infrastructure and rehabilitation going on over the years as many roads have been rehabilitated to solve the problem of traffic congestion in Owerri Metropolis. It is presumed by the researcher that the effect of road rehabilitation on the surrounding area is adding value to real estate. This study therefore examined road rehabilitation and its impacts on real estate values in Owerri Metropolis, Imo State. The study focused extensively on the road rehabilitation projects in Owerri Metropolis from 2010 to 2020 with a view to establishing how the residents as well as real estate values has been affected positively and negatively over the years. The population of the study consists of107 Estate Surveyors and Valuers, 39Real Estate Developers and 23,293 real property owners in Owerri Metropolis, consisting of Owerri Municipal, Owerri West and Owerri North LGAs, Imo State. The research adopted the survey method using structured questionnaires, personal interviews and observations as data collection instruments, with107 Estate Surveyors and Valuers, 39 Real Estate Developers and673 property owners constituting the sample size. The data collected were subjected to descriptive and inferential statistical tests. The hypotheses were tested using One-Sample T-Test. The study revealed that the process of road rehabilitation poses numerous challenges, and these challenges were significant enough that they exert negative influences on the residents at the time of execution. However, on completion, the benefits were more significant than the challenges that they go a long way to exert great positive influence on the values of real estate in the neighborhood. The study concluded by recommending that the rehabilitation of more roads will continue to present more benefits to the residents, and by so doing will continue to enhance real estate values in Owerri Metropolis, Imo State.

How are Southeast Asia Countries Embracing Green Home Technology?

Physical development, which includes real estate activities, is currently very active in developing countries. This is especially true in Southeast Asian countries that aim to transform their countries into developed countries. Southeast Asia is rapidly industrialising and growing; this growth has resulted in a rise in energy consumption and environmental effects. Deforestation, landslides, pollution and the greenhouse effect have all been impacted by the global development process, which began in developed countries. Therefore, the idea of a green home or green building which embraces green technology has received attention. A green home is a set of household systems that reduce demand for natural resources and carbon emissions, resulting in improved human well-being, social equality, and a green economy. It incorporates eco-friendly strategies for water and waste management systems, such as rainwater harvesting and water recycling, in addition to energy-efficient structures. A green home is more than just a green building, but it symbolises a sustainable lifestyle based on environmentally friendly technologies and practices. This article aims to review the application of green technology in housing and to explore green homes in selected Southeast Asian countries. Secondary data was used for the purpose of this study. The review of articles found that Singapore is on the cutting edge of most technical advancements compared to Malaysia, Indonesia and Thailand. Meanwhile, Malaysia, Indonesia and Thailand are concerned about housing affordability as this is the foundation for the majority of housing initiatives in these three countries, especially in Malaysia and Thailand.

Investigating COVID-19 spillovers in the US economy with a dynamic CGE model

PurposeThe recent COVID-19 is forcing governments to implement policies on a large scale to counter its spread. A central issue in the economic debate is the effective quantification of the impact that the policies may implicitly have on the economy. This study quantifies the effects of lockdown in the United States.Design/methodology/approach The study uses a dynamic computable general equilibrium (DCGE) model calibrated on a social accounting matrix (SAM). The lockdown policy is applied on the supply side, by using a reduction in the production according to the closing time of each industry. The reduction in the demand is also applied, throughout the contraction of the household consumption that is diversified by the commodities. In order to analyse the pure effect of the lockdown policy, the interventions by the policy makers are not considered in this study.FindingsThe results show an important contraction of productivity in the food industry, the real estate activities, the constructions and the general services.Originality/valueThe contraction produces a fall of the GDP for the whole period analysed, traced by the investments, which includes repercussions on the whole productive system, employment and income of the institutional sectors.