Real Estate Sales Research Articles

Wpływ kapitału społecznego mieszkańców na kształtowanie przestrzeni wspólnych w środowisku mieszkaniowym

Influence of social capital of inhabitants on shaping common spaces in a housing environment The last two decades of the century have brought unusually many changes in the built environment. These include not only changes directly related to the emergence of a new urban fabric, but also changes in social attitudes towards common spaces located in residential areas. The built environment has never been evaluated so strongly. This assessment translates not only into the everyday outdoor activities of residents (necessary, optional and social activities), but also to economic projects (purchase, sale and rental of real estate). At the same time, the city ceases to be, as it has been so far, mainly subjected to criticism, and the residents are gradually changing their demanding attitude concerning the development of space to participate in the process of its creation. Society wants to have a real impact on urban space, especially on the space closest to them. Thus, the right to the city is no longer a privilege or a duty, but it becomes a need. Trying to meet this need results in a phenomenon which we can increasingly observe in Poland, and which we have been witnessing abroad for many years: activities in public space are changing into activities for public space. They include the transformation of common spaces related to the place of residence—improving their aesthetic quality, functional changes, modernization of development elements. Observing numerous examples of public participation in shaping public spaces, it was noticed that the initiation, course and effects of activities largely depend on the social capital of the group undertaking said activity. Accordingly, there is a need for research on the mutual relation between the level of social capital and the issue of shaping and managing public space with the participation of local communities, which will be the main topic of the paper. To investigate the above-mentioned issue, qualitative research methods were used in relation to the relationship: site visit, non-participant observation and focus interviews. This contributed to a comparative study of three selected Warsaw case studies. They were analysed in terms of meeting the qualitative criteria selected for the study. These criteria have been indicated on the basis of the Social Capital Development Strategy 2020, which is one of the parts of the Medium-Term National Development Strategy. The result of the analyses is an indication of derived factors from within the group of space users and external factors that have a positive and negative impact on initiating, carrying out and maintaining the effects of changes in common spaces developed with the participation of local communities in Polish conditions. The conclusions can be used to improve future participation processes related to urban space - both by non-professionals participating in them, as well as experts - architects and town planners.

Bonifikata od ceny sprzedaży nieruchomości lub jej części wpisanej do rejestru zabytków – uwagi de lege ferenda na tle art. 68 ust. 3 i 3a ustawy o gospodarce nieruchomościami

The paper includes considerations intended to demonstrate the controversies related to application of paragraph 3 of Article 68 of the Act of 21 August 1997 on Real Estate Management (consolidated text: Journal of Laws 2020, item 65, as amended) and the need to carry out related legislative work. The weakness of the existing regulation is best seen in case of sale of real estate where a historic monument is located, if only part of the real estate (e.g. the building) is entered in the register of historic monuments. The aim of the proposed amendments is to introduce greater coherence between the administrative law protection of historical monuments and the civil law principles of legal transactions. The existing discordance means that interpretation of the current wording of paragraph 3 allows for drawing at least three conflicting conclusions as to the manner of determining the selling price to be reduced by the discount. The authors also try to show the possibility of granting permission for changing the rate of discount in local enactments of universally binding nature. In the article, dogmatic research is the main method used. This enables authors to conclude that granting a discount is only a process that influences the contents of the sale contract, not a condition that is decisive for or affects the transferability of a given legally protected good.

판례평석] 법경제학의 시각에서 바라본 부동산 이중매매의 형사처벌 -대법원 2018. 5. 17. 선고 2017도4027 전원합의체 판결을 중심으로-

판례평석] 법경제학의 시각에서 바라본 부동산 이중매매의 형사처벌 -대법원 2018. 5. 17. 선고 2017도4027 전원합의체 판결을 중심으로-

The spatially conscious machine learning model

AbstractSuccessfully predicting gentrification could have many social and commercial applications; however, real estate sales are difficult to predict because they belong to a chaotic system comprised of intrinsic and extrinsic characteristics, perceived value, and market speculation. Using New York City real estate as our subject, we combine modern techniques of data science and machine learning with traditional spatial analysis to create robust real estate prediction models for both classification and regression tasks. We compare several cutting edge machine learning algorithms across spatial, semispatial, and nonspatial feature engineering techniques, and we empirically show that spatially conscious machine learning models outperform nonspatial models when married with advanced prediction techniques such as Random Forests, generalized linear models, gradient boosting machines, and artificial neural networks.

НЕДВИЖИМОСТЬ ОРЕНБУРГСКИХ МЕЩАНОК ВО ВТОРОЙ ПОЛОВИНЕ XIX - НАЧАЛЕ XX В.: ХАРАКТЕРИСТИКИ, СТОИМОСТЬ, ИСТОЧНИКИ ФОРМИРОВАНИЯ

The article examines the issues of female bourgeois’ real estate ownership in a provincial town of the post-reform epoch. In the second half of the XIX - at the beginning of the XX century, Orenburg female bourgeois were active participants in the local real estate market. As the full-fledged owners of the town real estate, they signed contracts of purchase and sale of real estate, information of which is available in the State Archives of Orenburg region. The paper also describes the basic sources of Orenburg female bourgeois’ residential and non-residential property and provides examples of how they disposed of it.

부동산 이중매매와 제1매수인의 보호

부동산 이중매매와 제1매수인의 보호

A Case For Simpler Gain Bifurcation for Real Estate Developers

This Article examines the judicially sanctioned bifurcation of real estate developers’ gain. The Article recognizes that even though some commentators oppose granting favorable tax treatment to capital gains, the law most likely will not change. With that in mind, the Article examines the all-or-nothing approach of characterizing gain from the sale of real estate as either capital gain or ordinary income. The Article rejects the all-or-nothing approach of characterizing income under the current statutory system. Instead, it embraces gain bifurcation in the second-best setting that taxes capital gains and ordinary income differently. Illustrating the policy justification for gain bifurcation and judicially sanctioned bifurcation structures, the Article recommends that lawmakers should more fully embrace gain bifurcation for real estate developers by creating a simple statutory election for bifurcating gain that would enhance equity, accuracy, and transparency of gain bifurcation. Although the Article limits its analysis to real estate developers, the idea of gain bifurcation, once improved in this area, could be a catalyst for exploring bifurcation in other areas.

Development of risk-oriented approach to assessing the client during financial monitoring on the real estate market

The system of financial monitoring establishes specifically designated entities on the real estate market. The assessment of a client’s risk of money laundering when entering into agreements in this market is a complex task and requires the development of new tools for implementing the risk-oriented approach, which is a priority in accordance with international standards in the financial monitoring system. The purpose of the study is to develop a risk-oriented approach to assessing the client and to develop practical recommendations for determining its level of risk in financial monitoring in the real estate market. To achieve a specific goal, a system of general scientific and special research methods, expert rankings and optimization modeling are used. On the basis of Methodical materials on financial monitoring issues for business entities, which provide services in the course of real estate purchase and sale operations, the points of client’s correspondence to high risk, which corresponds to the concept of developing a risk-oriented approach based on the main criteria of client risk assessment: geographic location of the state, client type and business relations. Taking into account the complexity of such assessment and the necessity of operative decision-making, a risk assessment rating (cost) scale has been developed for an integrated automated determination of a client’s risk level and an assessment of high-risk clients in the Decision Making Helper decision-making support system software on specific examples of legislation violations concerning the financial monitoring on the real estate market. The feasibility of implementing a new risk-oriented approach to assessing high-risk clients has been proved by automating the process of determining its level to reduce the time to decide on prevention and counteraction to the legalization of incomes and money laundering.

Análisis de las modificaciones que incorpora la reforma tributaria ley n°20.899 al área de la construcción

Las modificaciones introducidas por la Reforma Tributaria Ley N° 20.780 del 29 de Septiembre 2014, modificada por la Ley N° 20.899 del 08 de Febrero 2016, tienen como efecto o consecuencia directa el encarecimiento en las ventas de bienes inmuebles realizadas por una empresa inmobiliaria, otras empresas o personas naturales, debido al recargo del impuesto al valor agregado en el precio final de venta de los inmuebles.La metodología empleada fue bajo un enfoque cualitativo con alcance de comprehensión, el cual se desarrolló en seis etapas. Entre ellas se contempló la revisión de textos, artículos, elaboración de un cuadro comparativo, simulación de casos prácticos y entrevistas a profesionales del área.De esta investigación, se concluye que las diferencias entre las propuestas de las reformas radica en las ventas realizadas tanto por una empresa constructora como inmobiliaria, ya que ahora están afectas a IVA, con la finalidad de recaudar mayores impuestos.

LEGAL ANALYSIS OF THE USE OF THE BUILDING AND THE TAX OBLIGATION UNDER THE REAL ESTATE TAX

In practice, doubts may arise both about the issue of the tax obligation under real estate tax, as well as its expiry, especially in the situation of demolition of buildings (or sale of real estate after construction). Taxpayers point out that an object deprived of one of the constitutive elements, such as walls or roof, is not a building and should not be taxed regardless of the duration of its demolition. The majority of administrative courts take the side of taxpayers, stating, among other things, that demolition works in a building are most often stretched in time, therefore the tax obligation may be extinguished before the end of demolition due to the demolition of the building's constitutive features under the Act . Thus, the expiry of the tax obligation may be related to depriving the building of one of the external building partitions (a load-bearing wall) or the roof. It is important, therefore, that the taxpayers carrying out the demolition (in the event of a dispute with the tax authorities) can document the demolition of the roof or wall of the building, entries in the construction log, as well as evidence in the form of photographic documentation.

LEGAL CONDITIONS FOR THE FINANCING OF LOCAL GOVERNMENT UNITS INVESTMENTS BY PARABANKING FINANCIAL INSTRUMENTS IN POLAND

The regulations on debt limits introduced in 2014 caused adapting by local government units two ways of proceeding. The first consists in "classic" adaptation to the provisions of the Public Finance Act, through the restructuring of budget expenditures and the devel-opment of a financial surplus, allowing for safe incurring of new obligations and possible servicing of "old" debt. The second way is what can be called the form of the "Creative accounting", involving the use of non-bank financial institutions (quasi-banks) or the use of financial operations other than bank loans and municipal bond issues. These are lease-back agreements, reverse sale of real estate, as well as unnamed agreements causing debt restructuring (e.g. subrogation, forfeiting or factoring), installment payments, as well as subsidies to the capital of municipal companies.

부동산 분양대행서비스 마케팅 전략에 관한 연구

부동산 분양대행서비스 마케팅 전략에 관한 연구

Obrót nieruchomościami rolnymi a planowanie przestrzenne

The article presents the latest regulations related to spatial planning and its impact on the sale of agricultural real estate in the light of the Act on shaping the agricultural system. Relations between spatial planning and agricultural real estate indicate the tendency of essential planning authority of the municipality and thus to that they influence the sale of agricultural real estate, excluding the application of the law on shaping agricultural system. The article also presents a model of shaping the state policy in the field of preserving the agricultural character of real estate.

Criminal legal review of Double Selling real estate sales

Criminal legal review of Double Selling real estate sales

Evaluating real estate development project with Monte Carlo based binomial options pricing model

ABSTRACTThis paper proposes three evaluation models for evaluating the value of strategic waiting of real estate development project. In Model 1, the ratio of land cost to total real estate sales in period (t) and period (t + 1) is uncorrelated (random). In Model 2, the ratio is unchanged (constant). Model 3 integrates Models 1 and 2 with the ‘land value persistence factor’. The larger the factor, the more the land cost tends to consider only the previous land price. This study uses the Binomial Option Pricing Model and Monte Carlo Simulation hybrid method to solve these three models. In addition, this research also proposes a method for estimating the net present value of project expansion on the time axis. The results show that five main factors influencing the expected value of the option value are the real estate price rate of change, present value of total real estate sales, duration, land value persistence factor, and present value of land. Regardless of the land value persistence factor, the longer the time, the expected value of the option value tends to increase. However, when the land value persistence factor is larger, the expected value of the option value increases more.

Features of the language of law: A comparative study of Polish, English and Indonesian legal texts

Abstract Researchers studying the language of law agree that there is a number of certain features which are characteristic of the legal genre, regardless of the language of the legal text. Among the most commonly listed features of lingua legis are: conventionalised sentences, performative verbs, Latinisms, euphemisms, and time expressions. The paper provides a discussion of these features, as well as provides examples of their occurrence in Polish, English, and Indonesian legal texts. The analised corpus includes the 1945 Constitution of the Republic of Indonesia, the Constitution of the Republic of Poland, The Constitution of the United States of America with amendments, Polish and Indonesian Civil Codes (clauses concerning obligations), together with a set of parallel texts of rental agreements and real estate sale contracts.

Real Estate Sale: The Predominance of Economic Substance over Legal Form in Some Jurisdictions is Problematic

In recent years, when selling real estate objects, Russian organizations use the account “goods shipped” recommended by the national regulator for use in this case, the balance of which in the balance sheet relates to current assets. In connection with the amendments to the Tax code of the Russian Federation, the use of this account is doubtful, as it is necessary to apply the requirement of priority of the economic nature of transactions over their legal form. In practice, most Russian companies are serious about compliance with the requirements of the regulator, as a result of which, actually sold real estate is reflected in the same section of the balance sheet, which reflects the fixed assets only intended for sale. The authors studied the annual financial statements of many major Russian companies, including the provisions of their accounting policies, and the order of reflection in the financial statements of real estate, state registration of a new owner, which occurred in the next reporting period. The study showed that most organizations do not disclose their accounting policies on this issue, which indicates that they follow the recommendations of the regulator, in the minority there are organizations that make the appropriate disclosure of accounting policies, but the position of accounting policies coincides with the opinion of the regulator. In the article the authors suggest ways to solve the situation.

A spatiotemporal exploratory analysis of real estate sales in Turkey using GIS

PurposeThe purpose of this paper is to examine the real estate sales in Turkey on a district basis to reveal the current state of real estate sales and any meaningful changes in the last period. The real estate market is important and is an indicator of the country’s general economic health, as real estate is seen as an investment.Design/methodology/approachAs a powerful method of spatial analysis and evaluation, geographic information systems have been used to examine real estate data in both spatial and temporal ways. In this study, 14 years of sales data covering the years 2004 to 2017 obtained from government agencies on a district basis were evaluated using spatiotemporal methods. Several maps were produced using Getis-Ord Gi* and local Moran’s I indices, which showed the spatiotemporal change of sales and sales rates.FindingsWhen looking at the maps, provinces such as Istanbul, Ankara, Izmir, Antalya and their surrounding districts have buoyant real estate markets compared to the other side of the country. Real estate sales are more stagnant in the eastern and northern parts of the country. In addition, the authors found that the growth rate of annual average real estate sales was approximately seven times higher than the annual average population growth.Originality/valueThis spatiotemporal study, which presents 14 years of performance data of the real estate market and, by extension, the economic situation, also highlights the regions that stand out for investment planning throughout the country. The results of spatiotemporal analysis also present a new way of real estate market visualization using maps with well-designed categorizations.

Representation in Multi-Issue Delegated Bargaining

Abstract Delegated bargaining over multiple issues of varying sizes is a frequent occurrence and happens during such contexts as real estate sales and political representation. Past work has shown that while simultaneously bargaining over two issues, it is in the best interest of an individual to choose a representative with identical preferences as herself. By allowing the sizes of the two issues to vary, this paper uses a two-issue, two-player Rubinstein bargaining game to show that an individual is best served by selecting a representative whose preferences closest resemble her bargaining rival’s preferences. It is also found that in some instances depending on the size of the issues the individual will be indifferent when choosing between a representative with identical preferences and another with different preferences to bargain on her behalf.

Real Estate Sale: The Predominance of Economic Substance over Legal Form in Some Jurisdictions is Problematic.

In recent years, when selling real estate objects, Russian organizations use the account “goods shipped” recommended by the national regulator for use in this case, the balance of which in the balance sheet relates to current assets. In connection with the amendments to the Tax code of the Russian Federation, the use of this account is doubtful, as it is necessary to apply the requirement of priority of the economic nature of transactions over their legal form. In practice, most Russian companies are serious about compliance with the requirements of the regulator, as a result of which, actually sold real estate is reflected in the same section of the balance sheet, which reflects the fixed assets only intended for sale. The authors studied the annual financial statements of many major Russian companies, including the provisions of their accounting policies, and the order of reflection in the financial statements of real estate, state registration of a new owner, which occurred in the next reporting period. The study showed that most organizations do not disclose their accounting policies on this issue, which indicates that they follow the recommendations of the regulator, in the minority there are organizations that make the appropriate disclosure of accounting policies, but the position of accounting policies coincides with the opinion of the regulator. In the article the authors suggest ways to solve the situation.