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Linda Kauškale and Frank Riemenschneider

Abstract

Investment tendencies in a country and particular region in general have a crucial role in the creation of the sustainable environment of the city, spatial planning and land use management. Green construction has great potential for investing and can provide variety of benefits for sustainable longterm development of the country. The aim of the research is to analyse the environmental and economical substantiation of investments in green buildings, with particular focus on the experience of Germany. The researchers used logical, inductive, quantitative and statistical analysis logical methods, analysis of scientific literature as well as comparative analysis. Lack of information is a peculiarity of real estate market, and especially affects the activities in green building construction, that also shows the necessity of developing economic and environmental criteria for substantiation of the decision-making process. Future research directions have been identified as well.

Open access

Linda Kauškale and Ineta Geipele

Abstract

Real estate market development and its sustainability are closely associated with history and development. Numerous problems have existed in society in the course of the years, including socio-economic problems. Real estate market development is also closely related to economic development, philosophical issues, and the analysis of these issues over the course of time makes it possible to explore both the historical development of these issues and the problems. The objective of the study is to analyze the main economic and real estate market development problems in the course of history by placing special emphasis on the economic development cycle and sustainability issues. Analysis, induction, deduction, historical and logical access methods were used in the research. Economic problems affect also the real estate market development, so the analysis of these problems is necessary in order to find possible solution opportunities.

Open access

Laura Platace and Sandra Gusta

Abstract

One of the most important parameters that is currently used in public and private procurement in building process is the lowest price. The legislation of Latvia permits that an estimate forming process does not include criterions of quality, durability, and the potential high cost of maintaining the building during the exploitation time. That allows the constructor to reduce the cost estimate by using cheaper construction product or technology and does not let to provide the highest possible quality and the basic principle of sustainable construction. One of possible construction cost reduction solutions is the replacement of building material with equal building material, at the same time assessing the quality and replacement impact on the direct costs of estimate. The tasks of the research are: (1) to do literature review on what is an estimate, what an estimate includes and the basis of estimate; (2) to analyse the existing construction estimate, to evaluate the used construction materials and to study technical characteristics of materials, to explore a specific construction junction; (3) to replace the selected construction materials with analogous, thus reducing the direct costs of estimate; (4) to evaluate the affect of the price of the construction material on quality; (5) to compare the obtained cost estimate with the current cost estimate; (6) to implement laboratory research and to compare technical characteristics of the construction materials and analogue materials in order to check if they are the performing parameters that are defined in the declaration of performance. After comparing of the obtained direct costs of construction and analysing the quality of construction materials it is possible to provide the most appropriate offer of the direct costs of estimate to satisfy the customer’s interests.

Open access

Edgars Pudzis, Sanda Geipele and Ineta Geipele

Abstract

The research provides an insight into village development planning, as well as considers village planning from the perspective of the national planning framework. Local settings of village development have also been taken into account. The research provides information about possible approaches for local community involvement in development decision-making.

The article aims at considering the current situation of the involvement of local communities in the advancement of local territories and at presenting the proposals for public involvement models.

Analysis, logical and historical data access methods, induction and deduction have been used in the present research.

Open access

Iveta Puķīte, Iveta Stāmure and Ineta Geipele

Abstract

The issue of residential housing management, depending on the chosen form of the residential housing administration, is topical both from the perspective of residential building apartment owners, if apartment owners have chosen to manage the building themselves, and from the residential house manager’s point of view, if the management of the residential building has been entrusted to a professional manager. This is justified by the fact that the process of residential housing maintenance and management is based on knowledge, experience and financial resources; besides, it should be carried out by meeting the existing legislative requirements of the European Union and the Republic of Latvia, as well as the interests of the apartment owners.

In Latvia, in order to manage a residential building, the administrator is required to have appropriate professional education, which, according to the Law of Residential Housing Management, should be at least the 4th level of Professional Qualification accepted in Latvia (the 5th level of European Qualifications Framework, EQK, and Latvian Qualifications Framework, LQK).

The topicality of the study is related to the fact that in Latvia the law stipulates that a residential housing manager should have vocational education, which can be obtained at a number of public educational institutions. In the management process owners can choose their preferred management model, but right now the Register of the Ministry of Economics does not provide full information about the professionalism of an administrator. The goal of the study is determined by the topicality of the theme - to explore the existing models of residential housing management in the Latvian market and professional capacity of specialists involved in management. Within the framework of the study, statistical, qualitative and analytical methods have been used.

As at present in Latvia there is no unified system for the accounting of housing management education in the market, the research results will contribute to its development and creation.

Open access

Valeria Pugacheva

Abstract

One of the main factors that constrains using of venture investment in innovative projects in the field of construction is high risk of this type of investment. Thus, the problem of risk assessment is relevant in the venture investment of innovative projects. First of all, it should be noted that the risks in the construction industry have considerable specificity and heterogeneity. Real options approach is an important tool with venture investment at all stages. It can be widely used in innovative projects in construction for accurate risk assessment.

Open access

Iveta Puķīte and Ineta Geipele

Abstract

For the implementation of real estate management, in accordance with the legislative framework of good practice and quality management, a system is required that helps the processes to be arranged according to their fundamental values, criteria and functions. The study sets residential property management elements and factors influencing them. The significance of the topic is set by the developing industry and the requirement for quality and sustainable management model that includes all interested parties - owners, lessees, tenants, users on the one side, housing managers on the other and the state, local government and non-governmental organisations on the third side. The development of this sector as a whole depends on the quality of residential housing management process.

Open access

Janis Viesturs and Armands Auziņš

Abstract

International real estate transactions, especially in countries with different legal systems, are characterised by the fact that each transaction is unique in its complexity, confidentiality, different risk factors, and the limited availability of information regarding the real estate. The Due Diligence (DD) process is an instrument that can help avoid or at least reduce risks and assist in making important decisions regarding real estate transactions. The term “Due Diligence” has a number of different meanings. The aim of this paper is to determine the etymology of this term and to identify its most common contemporary meaning. Each DD process is to be recognised as a project requiring management because of the potentially high number of individuals that could be involved.

Open access

Sergey A. Kirsanov and Yevgeny N. Safonov

Abstract

The considerable problems in the provision of a transparent and clear system of settlement between the enterprises supplying housing and utilities services and the owners of flat buildings include the insufficient provision of metering devices, the absence of a system collecting and analysing this information and the data of the current balances of utilities, as well as the absence of a common data base of the residents. To solve the above-mentioned problems, it is necessary to implement strict normative requirements related to the application of the metering devices and arrange the uniform municipal bases of information resources, which would include the automated information collection, payment servicing of utility consumers in a single window, the control over the unsanctioned utility consumption, the data exchange with the branch state automated systems and other measures.