Real Estate Costs Research Articles

Real Estate Price Predcition System Using Hybrid Lasso Algorithm

House Price prediction system is a website where the user/ buyer can be able to predict the accurate cost of real estate. To analyse the pertinent characteristics and the best models for predicting the price of homes, a literature review is done.. The model will then use the user's data, and the user will be able to view the predicted price of the property they are selling or looking to buy in a matter of seconds. The feature selection process is done with a type of regression called LASSO regression. A kind of linear regression that makes advantage of shrinkage is called LASSO regression. So we are proposing a system that uses Hybrid LASSO Regression algorithm to do the Feature Selection. Hybrid LASSO Regression is hybrid of both LASSO and Ridge Regression. When models exhibit significant levels of multi-collinearity or when you wish to automate specific steps in the model selection process, such as variable selection and parameter elimination, this specific sort of regression is ideally suited. This would greatly help academics and housing developers identify the most important factors that influence home values and recognize the most effective machine learning model to follow when conducting the field investigation.

Government response and Talent Stickiness: What Causes the Location Transfer of High-Tech Industries

Location selection of high-tech enterprises is one of the key topics in current research. The researchers discovered that Chinese Internet companies have a long tradition of positioning and development in prime cities. In the last few years, more and more Internet businesses have opted to leave the top cities. Through collecting and sorting relevant literature, this paper uses the empirical research method by Process-Tracing Method in a case study to discuss why Huawei's headquarters officially moved from Shenzhen to Dongguan. However, with The Times's development, the city's location advantage has changed. Shenzhen's policies and geographical position are no longer sufficient to attract Huawei's high-tech industry. With the development of the city, Shenzhen has brought increasing production costs for high-technology companies and industries. Compared with Shenzhen, the enterprise will develop better when the factory is relocated to Dongguan. The real estate cost of the enterprise will be significantly reduced, and talent stickiness will also be greatly improved.

Advancing the marketing‐operations interface in omnichannel retail

Advancing the marketing‐operations interface in omnichannel retail

Relationships Between Walkable Urban Environments and the Creative and Knowledge Economies

Currently, many urban planning projects have sought to apply sustainable strategies, with a special dedication to mobility. International guidelines indicate a focus on pedestrians and their integration with other active and collective transport modes, discouraging car use. Conceptions of transit-oriented development (TOD) see cities strengthen walkable environments around public transport stations, which provide several benefits. Around the world, there has also been a shift from a commodity-based industrial economy to a knowledge-based economy. TOD environments are seen as having the potential to attract young workers, generating jobs in creative and knowledge economies. However, criticism arises regarding the possibility of real estate valuation and consequent gentrification with the consummation of these planning practices. Considering positive and negative aspects, the objective of this paper is to provide a brief literature review of the impacts of urban transformations dedicated to stimulating pedestrian mobility, with an emphasis on their interplay with the knowledge-based economy. There is no focus on methods, rather on concepts and interpretations regarding how processes occur in spatial dynamics. Reviewing case studies from the USA, Australia and China indicates correlation between the amenities characteristic of walkable environments and the creative and knowledge sectors. Negative effects for start-ups or smaller capital companies are apparently related to the cost of real estate. With the understanding that gentrification tends to be inherent to the dynamics of urban requalification, public policies and planning actions are suggested to manage gentrification and minimise its problems.

Agricultural landscapes and financial factors affecting soil microzones in the Kursk region

Over the past twenty years price changes in real estate market have been unstable for many reasons. Events in twenty-year dynamics in Kursk region which influenced pricing in real estate market are described. Main factors affecting the cost of real estate are also described. The main purpose of the article is to analyze price dynamics in real estate market of Kursk region over past twenty years, to highlight main factual factors that have an impact on the cost of real estate. Main tasks of the article are to identify factors influencing prices of real estate in Kursk region. Methodology of the article is based on a systematic approach, as well as methods for analyzing and synthesizing multiple indicators of real estate market in Kursk region. The results of the article are concluded in the allocation of the main determining value-forming factors in real estate market of Kursk region.

Digital technologies in managing the competitiveness of commercial real estate

Currently, technological progress does not stand still and affects both the economy and society as a whole. The real estate market, like the economy as a whole, is subject to digital transformation: the use of new technologies is growing both in design, construction, and in real estate sales. The purpose of the study is to analyze the implementation of technologies in construction and assess the prospects for their introduction into the real estate market. To achieve this goal, the following tasks have been set: study and analysis of future technologies in construction; identification of positive aspects for the sphere from implementation; identification of barriers to implementation at the moment. Research methods include monitoring modern technologies; market research and analysis; modeling of the real estate market. The study examined the impact of innovation and technology on the real estate market. Possible prospects for the modernization of the market are considered and the given examples of innovative technologies are evaluated. The main reasons necessary for the introduction of innovations are revealed, their effect is assessed both for construction companies and for end users. The analysis of the impact of the implemented technologies on the real estate cost (construction cost) and service life is carried out. The main advantages of the introduction of technologies are highlighted, as well as the barriers to their implementation.

Standardization of valuation activities in the field of property

The present research paper demonstrates the relevance of standardization of valuation activities in the assessment of the market and other values of real estate. It characterizes the changes in the federal valuation standards that took place in the Russian Federation in 2022. It indicates the remaining elements of ambiguity in the federal valuation standards, which do not allow to ensure the rights of consumers of valuation services, to increase the objectivity of the performed calculations and conclusions of the market value of the object, which most adequately reflects the current situation on the market. The possibility of additional use of International Financial Reporting Standards and International Auditing Standards for clarification of the provisions contained in the federal standards of assessment. There are pointed out the necessity of developing the Methodological recommendations for the appraisal of different kinds of values named in the federal law on the appraisal activities and in the federal appraisal standards. A provision is formulated that the term cost should be used in two meanings: as an economic category and as a valuation index Interpretation of the concept of cost as an economic category is given. A proposal to increase the number of methods included in the cost approach has been made. The new method of the cost approach, the method of discounting the estimated cost with the help of which market cost of real estate can be estimated has been offered. The main conclusions and proposals are formulated.

ВПЛИВ НА ВАРТІСТЬ ЗЕМЕЛЬНИХ ДІЛЯНОК ПОХИБОК ПОЛОЖЕННЯ МЕЖ ОТРИМАНИХ ІЗ ВИКОРИСТАННЯМ БЕЗПІЛОТНИХ ЛІТАЛЬНИХ АПАРАТІВ

Purpose. The study of the effect of errors in the position of landmarks obtained using unmanned aerial vehicles, on the value of real estate. Aerospace for several decades is an effective tool for conducting geodetic works, geophysical studies and conducting various types of monitoring, but such methods are not used to assess the real estate. Modern technologies for the creation of topographical and cadastral plans are based precisely on the use of digital aerosol materials. However, the cost of using airplanes and helicopters for local large-scale take-off is on an order of magnitude higher and therefore an alternative solution is the use of UAVs. Methodology. Unmanned aerial vehicles (UAVs) are most often used as a cheap alternative to conventional airplanes from airplanes, helicopters, telescopes and satellite (satellite) takeoffs. In addition to significant cost-effectiveness (cheaper by ten times), UAVs have additional privileges, namely: low altitude, point-and-shoot, mobility, environmental cleanliness of flights. Land management works are mostly carried out unsystematically and without reliable control, and therefore the application of usual geodetic methods and measurement results does not allow obtaining the required precision of the coordinates of the points, boundaries and the film basis. All this leads to the problems of combining the boundaries of adjoining areas due to the use of poor-quality cadastral information in databases that were formed over a significant period of time by the regional centers of the SLC. Results. The use of UAVs proves the importance of them to perform valuation works, which will increase the accuracy of the determination of the coordinates of the boundaries of real estate and significantly accelerate the evaluation procedure. It is established that for large settlements, the accuracy of the determination of the coordinates should be significantly increased, since the cost of real estate in these settlements is quite large and, accordingly, the errors in determining the coordinates of real estate objects lead to errors in the cost of real estate objects of the settlement, which is legally unacceptable and therefore For very large cities it is expedient to create shots at low altitudes and gradually increase the accuracy of photographing the terrain. Scientific novelty and practical significance. The importance of using UAVs for assessing the value of real estate objects has been proved, as the resulting calculations result in average square errors in the value of 1 sq. M of real estate, amounting to less than 0.3% of its total value. The practical significance of the use of UAVs lies in the existence of additional advantages over traditional shooting methods, namely the possibility of obtaining a super-distinction (one and ten centimeters) in the terrain; the detailed removal of small objects and small areas where it is completely unprofitable or technically impossible to do in other ways, for example, in urban development.

The Impact of Mortgage Rates on the Value of Residential Real Estate

The article discusses the regularities of the influence of the parameters of mortgage loans on the cost of residential real estate. In the context of the widespread use of macroeconomic mechanisms by the state for regulating the economy, such as the regulation of the key rate, and the development of state programs for subsidizing mortgages, identifying such patterns is a rather urgent task. The main parameters of mortgage loans that are important for borrowers and affect the cost of residential real estate are analyzed; the interest rate on mortgage loans is identified as the main parameter. The factors influencing the level of interest rates are analyzed. A methodology is proposed and, on its basis, the calculation of indicators characterizing the degree of influence of changes in interest rates on the cost of residential real estate is made.

Theoretical cost of real estate and natural resources as a tax base

It is proposed to introduce another indicator instead of the current cadastral value as a taxable base for property taxes and land tax - the theoretical value of real estate and natural resources. The theoretical value has a fundamentally different basis compared to the cadastral value. The theoretical cost is based mathematically on the Euler L. formula, which is used to obtain a continuous closed relief of the economic potentials of the territory. The theoretical value has many advantages over the cadastral value as a basis for calculating property taxes, because it becomes more objective (reliable) due to the digitalization of the process of the tax base, and when forming the budget allows the state, without losing income, to observe the principle of social justice, to introduce artificial intelligence into the system.

Outstanding Problems of Real Estate Cost Control and Refined Management Countermeasures

Outstanding Problems of Real Estate Cost Control and Refined Management Countermeasures

TELEWORKING AS A BUSINESS SUSTAINABILITY AND CONTINUITY STRATEGY: AN ASSESSMENT OF THE ZIMBABWEAN TELECOMMUNICATIONS SECTOR UNDER COVID-19

The Covid-19 pandemic has seen unprecedented changes to the way people conduct business and work whilst striving to reduce downtime and maintain or even increase productivity (Belzunegui- Eraso and Erro-Garcés, 2020). Long lockdown periods and the need to meet World Health Organisation (WHO) regulations for social distancing have necessitated that organisations instruct their employees to telecommute or work remotely from home in an effort to maintain business sustainability and continuity (OECD, 2020). This research explored how Zimbabwean telecommunications companies implemented teleworking as a business sustainability and continuity strategy in the Covid-19 pandemic environment. This study was qualitative in nature, employing a phenomenology philosophy. Thirty knowledgeable telecommunications managers and business leaders were invited to complete a detailed online questionnaire that helped draw conclusions to the objectives. Based on these questionnaires and some secondary data review, this study determined that teleworking was widely adopted by 97% of the telecommunications sector during the Covid-19 pandemic era. The implementation of telework and BCM processes was the required antidote to the decrease in productivity and threats to job security and business continuity presented by lockdowns. Teleworking guaranteed retention of employees, real estate and administrative cost savings, continued business operations and service delivery. In addition, telework helped curb the potential spread of the virus amongst employees and customers who would have congregated at the work place. Inconsistent supply of electricity, inadequate communication and collaboration tools and platforms as well as lack of ergonomic chairs and desks were the major factors indicated to be deterring effective and productive telework. The study also revealed that there was an increased demand for telecommunications products and services during the pandemic particularly on lock down periods. This was confirmed by POTRAZ (2021) in their first quarter abridged postal and telecommunications sector performance report. Customers had a new need for reliable internet connections to use when working from home, learning online and for entertainment. The businesses made efforts to ensure that their services were adhering to availability, reliability and dependability standards. There is a great need for the establishment of standards and policies to govern telework and BCM process and policy implementation in telecommunications companies for successful business continuity and sustainability.

The Impact of Tourism Development on the Local Communities in Namibia

This article aims to identify and explain the current challenges being faced due to the impact of tourism development on the local communities in Namibia. The State touts Tourism’s socio-cultural benefits through its respective line ministries as highly significant towards the development and economic growth, as articulated in the current National Development Plan (NDP5). ”… The tourism industry is an important contributor to the generation of foreign exchange earnings, investments, revenue, employment, rural development, poverty reduction, and the growth of the country’s economy. Tourism also creates substantial direct and peripheral benefits because of its multiplier effect, based on its reliance on widespread supplies and services” ((NPC), 2017). The Foreign-exchange earnings and balance of payment benefits derived from tourism receipts are considered a double-edged sword. The money spent by tourists in the Namibian economy is significant. Tourism can have both negative and positive impacts on the local community. This desk research found an appalling concern for many developing countries to over-depend on tourism to pursue economic growth and development. It is argued that this serves as a demonstration of how tourism development elevates the prices related to real estate and general costs of goods and services, which eventually leads to inflation. Finally, we assume that self-efficacy positively influences the involvement of local communities in tourism development which has positive implications on their quality of life regarding social and economic bearings. Additionally, local communities should be more supportive and instead have a positive attitude towards tourism development, thus resulting in a more profitable tourism sector. In concluding, the authors viewed that the government should also ensure that the local people are well informed about the importance of tourism, how it impacts economic development and the realization of a sustainable tourism strategy for Namibia.

New villagers: motives and factors for moving from urban to rural areas

In developed countries, along with urbanization, the opposite process - ruralization or deurbanization - is becoming increasingly noticeable. Ruralization is not only the movement of townspeople to the countryside, but also the development of villages and the increasing importance of rural areas as a place to live and work. Townspeople make the decision to move by comparing the advantages and disadvantages of living in urban and rural areas, and non-economic motives (the desire to get closer to nature, to find ones roots, to live in silence, without haste, to eat natural products, etc.) play an important role in this decision. Among economic motives, the difference in the cost of urban and rural real estate and of life in general is the most important motive, i.e., families, especially young and large, can improve their living conditions by moving to the countryside. The study, the results of which are presented in the article, aimed at identifying those groups of townspeople that tend to resettlement, their motives, and factors pushing people to leave cities and facilitating/hindering resettlement to rural areas. The research is based on the study of special literature on the topic and on the data of the survey of resettled townspeople and experts in ruralization. Unlike most publications on ruralization, the author focuses on the positive aspects of the resettlement of townspeople to the countryside and insists on the removal of administrative barriers that prevent ruralization, because the resettlement of townspeople to the countryside does not have a negative impact on the city and is compensated by the influx of people from the countryside, who want to get education or a new profession.

Determining the area corrections affecting the map areas in GIS applications

Abstract Nowadays, there are many area-based Geographic Information Systems (GIS) applications such as real estate valuation, land tax, farming support and cost–benefit analysis. Areas used in such applications are calculated by means of two-dimensional plane geometry. However, the computed area value is not the exact area value in the terrain. In order to calculate the exact area value of a parcel, area corrections due to various factors must be taken into account. These factors are selection of projection, slope of the terrain, elevation of the terrain and scale of the map. Selection of projection and slope of terrain are available; elevation of the terrain and scale of map are not available in all GIS software. In this study, the effect of area corrections on the area value calculated from the map is examined with sample applications and the results are presented to the GIS users. According to the results, GIS users should select the equal area projection. In addition, scale of map, elevation and slope of terrain should be taken into account in the area calculation where land measurements are not possible.

Full Battery and Hybrid Bus based Rapid Transit System as a Cost Effective Urban Transit Mode alternative to Metros in Tier II Tier II I Indian Cities

Intra-city travel is a significant part of urban life and a fully functional intra-city transit system will help in reducing the number of private vehicles on the road, thus reducing pollution and traffic congestions. A robust urban transit system helps in the physical expansion of city limits, making education, job, and medical facilities accessible to people living in city fringe areas. This will help in depopulating the Central Business District areas and optimization of real estate cost. Heavy Rail Based Metro Transit system has improved living conditions in Metropolitan cities. The High Capital Investment required for setting up a metro system necessitates the requirement of alternate Transit systems for Medium and smaller cities. This paper delves into this important area of suggesting an alternate urban transit model for Tier II and Tier III Indian cities. In this paper, modifications were suggested in the Metro Neo specification issued by the Ministry of Housing and Urban Affairs [10], to make it more cost-effective (to construct and maintain), agile, and with scope to harness new technologies as they become commercially viable in the future. Elevated or dedicated Busways with Full Diesel Hybrid Buses comprising an Energy Storage system (Li-ion battery pack) and a diesel power pack are suggested as the rolling stock for the transit system. This suggested rolling stock will be not only cost effective but also environmentally friendly. In the future, the Diesel Power Packs in the buses can be replaced with Hydrogen Fuel Cells or additional batteries to enable full electric and non-fossil fuel operation. The need for further research in developing cost-optimized structures in the Construction of viaducts and bus stations is felt and details in these areas have been highlighted. The suggested system will have the flexibility of a Bus Rapid Transit system and shall have some advantages of a metro system. Even in big cities with a full-fledged Metro system, the suggested modified Metro Neo system can act as a feeder system from faraway places. The paper proposes essential features of a transit system that is robust in present and is future-ready.

Full Battery and Hybrid Bus based Rapid Transit System as a Cost Effective Urban Transit Mode alternative to Metros in Tier II Tier III Indian Cities

Intra-city travel is a significant part of urban life and a fully functional intra-city transit system will help in reducing the number of private vehicles on the road, thus reducing pollution and traffic congestions. A robust urban transit system helps in the physical expansion of city limits, making education, job, and medical facilities accessible to people living in city fringe areas. This will help in depopulating the Central Business District areas and optimization of real estate cost. Heavy Rail Based Metro Transit system has improved living conditions in Metropolitan cities. The High Capital Investment required for setting up a metro system necessitates the requirement of alternate Transit systems for Medium and smaller cities. This paper delves into this important area of suggesting an alternate urban transit model for Tier II and Tier III Indian cities. In this paper, modifications were suggested in the Metro Neo specification issued by the Ministry of Housing and Urban Affairs [10], to make it more cost-effective (to construct and maintain), agile, and with scope to harness new technologies as they become commercially viable in the future. Elevated or dedicated Busways with Full Diesel Hybrid Buses comprising an Energy Storage system (Li-ion battery pack) and a diesel power pack are suggested as the rolling stock for the transit system. This suggested rolling stock will be not only cost effective but also environmentally friendly. In the future, the Diesel Power Packs in the buses can be replaced with Hydrogen Fuel Cells or additional batteries to enable full electric and non-fossil fuel operation. The need for further research in developing cost-optimized structures in the Construction of viaducts and bus stations is felt and details in these areas have been highlighted. The suggested system will have the flexibility of a Bus Rapid Transit system and shall have some advantages of a metro system. Even in big cities with a full-fledged Metro system, the suggested modified Metro Neo system can act as a feeder system from faraway places. The paper proposes essential features of a transit system that is robust in present and is future-ready.

Influence of dynamic changes of workplace on organisational culture

AbstractChallenged by the effects of organisational flexibility and high corporate real estate costs, organisations are increasingly seeking flexibility and operational efficiency in their office spaces. To date, the literature relating to flexible office spaces has focused mainly on their physical characteristics. The full effects of such spaces on human reactions and the corporate culture of organisations are less understood. The objective of this paper is to examine the influence of introducing activity-based working (ABW) on existing organisational culture. It was addressed from the perspective of the management of large corporate organisations. A mixed-method research that included a qualitative approach followed by a quantitative approach was adopted. The first stage included semistructured interviews with 19 large organisations who had introduced flexible layouts. The second stage involved a questionnaire survey of 32 organisations which had experienced office layout changes. Findings identify that the nature of workplace designs has a considerable impact on the corporate culture of an organisation and can be used to leverage and change its culture. Workplace designs directly influence culture by supporting the systems, symbols, engagement/motivation and behaviours of the organisation and employees. However, some differences between the perceptions of public and private organisations were identified. In conclusion, office layouts are artefacts that can either support, or change, the existing organisational culture. Therefore, the critical achievement of workspace design is to integrate the cultures, values and behaviours of organisations to meet their ultimate goals.

Commuter demand estimation and feasibility assessment for Urban Air Mobility in Northern California

This study aims to estimate passenger demand for Urban Air Mobility (UAM) and analyze the feasibility of operating the system in Northern California. UAM is a concept mode of transportation that is designed to bypass ground congestion for time-sensitive, price-inelastic travelers using autonomous, electric aircraft with Vertical Takeoff and Landing (VTOL) capabilities. This study focuses specifically on commuting trips, which are frequent and considered relatively more time-sensitive than other types of personal trips. The UAM mode's feasibility is studied using sensitivity analysis of UAM demand to cost per passenger mile and the number of vertiports placed in the region. This study also explores the spatial distribution of UAM demand in Northern California, which further helps in identifying the major commuter trip-attraction and trip-production zones for the UAM mode in the region. The results indicate that sufficient UAM demand for commuting trips can only be reached at optimistically low UAM offered fares. These fare levels could be challenging to obtain given the high real estate cost in Northern California's urban regions. Moreover, the reliability of the UAM mode must be comparable to the automobile mode; otherwise, it loses significant demand with increasing delays. The results also show that the commuting flows with promising UAM demand in Northern California are heavily one-directional, with San Francisco Financial District being a major attraction. Other types of trips should also be considered along with commuting trips to generate an economically viable system and reduce deadheading.

Energy-resource-saving effect in the electric supply systems of residential complexes from updating the electric load regulations

THE PURPOSE. Study of the load of 0.4 / 10kV transformer substations installed in the residential sector. Justify the need to update the norms of specific electrical loads for residential complexes. Calculate the electrical load of residential complexes using the current and updated standards with an assessment of the economic effect. METHODS. When fulfilling this goal, statistical and economic methods of analysis were used. RESULTS. The article describes the relevance of the topic, provides a rationale for the need to update the standard values of specific electrical loads. The calculation of the electrical load was carried out according to the methodology of the Association «Roselectromontazh» both for an apartment building and for the residential complex as a whole. The example shows the economic effect of updating the standard values for the city of St. Petersburg. CONCLUSION. The values of electrical load, calculated according to the methodology of the Roselectromontazh Association, will reduce the cost of building electrical networks during the construction of residential complexes, reduce electrical energy losses in distribution electrical networks of 0.4/10 kV, which will lead to a reduction in the cost of commercial and residential real estate. Approved in 2019 The republican standards of urban planning, in terms of the declared capacity based on the methodology of the Association «Roselectromontazh» are successfully applied in practice and have significantly reduced the costs for construction companies of the Republic of Tatarstan for the implementation of power supply of residential complexes.