Browse

You are looking at 1 - 10 of 72 items for :

  • Real Estate x
  • Business and Economics x
Clear All
Open access

Grzegorz Kunikowski

Abstract

Projects of common interest are projects serving the implementation of priority corridors and areas of energy infrastructure, mainly trans-European electricity, gas and oil transmission networks in order to reduce the European Union’s energy dependence. They also help strengthen the energy security of individual countries, including Poland. The article aims at reviewing projects and assessing an impact on domestic markets in the context of the challenges of the fuel and energy sector in Poland. The article is an analytical study, in the “desk research” formula. Research methods used during the elaboration of the research include the analysis of national and EU strategic documents and the subject matter of energy security. In order to evaluate the impact of the implementation of projects of common interest on a variety of supplies of a member country (Poland), an exemplary assessment of the diversification status is presented using Hirschman-Herfindahl concentration index for gas supplies.

Open access

Sindija Balode and Uldis Kamols

Abstract

The research focuses on the rental housing market in Riga and reveals that among factors that affect the rent level in neighbourhoods of Riga the most are distance from the city centre, neighbourhood safety, quality of housing and transport infrastructure, access to shopping malls, and employment opportunities. The aim of the research is to analyse the housing market in Riga, by putting a special focus on price determinants and lesson keys of Helsinki. Quantitative and qualitative research methods are used in the paper with the biggest contribution being extraction and analysis of data about more than 1800 rental apartments in Riga from the largest Latvian online real estate advertisement platform. Quantitative analysis is based on investigating relationships between average rent levels in different neighbourhoods of Riga and index values of 23 urban environment factors. In addition, the rental housing market in Helsinki is researched, emphasising few guidelines for rental housing market improvements in Riga, such as introducing government subsidies.

Open access

Filiz Ersoz, Taner Ersoz and Muhammet Soydan

Abstract

Construction sector has an important place in Turkey’s economy. Real estate sales for the sector are increasing in parallel. However, the purchase cost is also important for those who are willing to buy a real estate. In the acquisition of real estate, factors such as size, location and age of the house are taken into consideration. The aim of the article is to conduct research on factors affecting real estate values by data mining. In this study, the most important variables that determine the value of the real estate have been investigated by data mining methods. The research has been carried out in Karabük and the variables determined according to the opinions of real estate experts. As classification methods, CHAID and C&RT algorithms have been used. It has been evaluated that both algorithm estimation results can be used. Within the framework of the study, the variables that have the most impact on the unit price have been determined, such as the size of the real estate, the distance to the city centre, the popularity, and the age of the building. The use of advanced technologies, such as statistical modelling and machine learning in real estate valuation and automatic value estimation, is of importance in determining the real value of the real estate.

Open access

Taner Ersoz, Filiz Ersoz and Deniz Merdin

Abstract

Widespread usage of the internet and computers have facilitated a number of human resource management activities such as compensation management, performance management, vocational training and other personnel management affairs across various enterprises. It is known that the employment of a qualified labour force becomes increasingly difficult due to increasing competition conditions. Therefore, it is important to ensure that the right person is recruited for the enterprise and that he/she is attached to his/her employer. Thanks to information technologies, the recruitment process can be implemented more quickly and effectively. The present study aims at determining whether the employer-employee has a sense of trust; whether employee’s performance, disciplinary action, reporting status and significant inconvenience status are taken into account by an enterprise in the iron and steel industry. Logistic regression method is used as an analysis method. The effects of the demographic variables on the dependent variables are also determined. Considering the results obtained, it is observed that the loyalty of the employees to the employer is not very strong, but at the level of improvement, the employees do not consider working at the company for many years.

Open access

Alexander Tsatsulin

Abstract

The forthcoming transfer of St. Isaac’s Cathedral in St. Petersburg being a UNESCO World Heritage Site to the Russian Orthodox Church ignites a heated debate within the Russian society. The cathedral being part of the State Museum Complex stands out as a pearl of the world’s iconic architecture. Furthermore, it is the second most visited museum after the Hermitage, boasts an outstanding exhibition potential, and it regularly hosts church services and ritual events. Museum collections exceed twenty-four thousand items of storage, and they continue to be replenished with found rarities and newly restored objects with the status of a relic to be protected. The aim of the article is to measure the value of the assets of the monument building, assessing the insured value of the object. Uncertainty of the future use of the disputed object, however, allows us to consider the calculation capabilities and methodical tools of valuation activities to measure the market and insurance value of such a real estate object and land plot, for example, in order to practice damage compensation and transfer the object from the balance sheet of one owner to balance of another owner. The latter circumstance determines the main discourse of this study. The present article is devoted to questions of an expert estimation of the insured value of the object of research in the form of St. Isaac’s Cathedral. The article is a continuation of a series of previously published works by the author.

Open access

Ivo Gulbis

Abstract

The paper aims at providing insight into the effectiveness of Latvian special economic zones (SEZ) as a tool to attract foreign direct investment (FDI). The goal is accomplished through the statistical analysis of relevant data and the comparison with international examples to establish a point of reference. Countries of comparison are chosen by merit, in the form of widely acknowledged success stories regarding SEZ policy, and relative statistical similarity. The wider the pool of examples, the more conclusions can be drawn about the effectiveness of SEZ in various metrics. Based on the results, Latvian special economic zones have significantly underperformed when compared to every single example on the list. Research has been approbated in the Riga Technical University 58th International Scientific Conference “Scientific Conference on Economics and Entrepreneurship” (SCEE’2017).

Open access

Ankit Mishra and Linda Kauškale

Abstract

Due to increase in growth of real estate development, green certification systems are essential to ensure the well-being of society and environment. Green Building Councils are the main drivers that influence many factors related to development of green buildings, which includes certification, education, conference and other aspects. The aim of the article is to analyse the tendencies of the development of green buildings in the Scandinavian and Baltic countries by analysing the Green Building Councils of the Baltic and Scandinavian Countries, and the number of certified green buildings in both regions. The literature review, comparative analysis, document analysis, and logical access methods have been used in the research. The countries are different from each other and their current and future priorities differ from each other as well. In the research process, it is important to lay some light on the several funds acquired by the regional Green Building Councils and their usage. The research results show that all the countries are working towards the development of green buildings but some countries perform better in the number of certified green buildings. The research results, including the number of green certified buildings, future plans of Green Building Councils, recommendations for future market analysis of green buildings, have already been approbated at the 59th International Scientific Conference of Riga Technical University “SCEE 2018” (Scientific Conference on Economics and Entrepreneurship) in Riga, Latvia.

Open access

Vincent Uwaifiokun Aihie and Matthew Ikuabe

Abstract

The aim of the research is to comparatively assess the knowledge and competency levels among valuers and quantity surveyors of cost estimation techniques used in DRC valuation. The study investigates the need for estate surveyors and valuers in Nigeria to improve their current knowledge of cost estimation techniques when valuing non-rent yielding and specialized properties using the DRC method of valuation. More importantly, it evaluates the need for valuers to engage in the services of quantity surveyors in order to ensure that accurate cost estimates are provided for use in the valuation process. The research methodology adopted in actualizing the aim of the present study made use of primary and secondary sources of data, which included texts, published research work and semi-structured questionnaire. Identical questionnaire was distributed to both valuers and quantity surveyors in Lagos and their responses were measured using statistical tables and simple percentages. A proficiency scale of the National Institute of Health was adopted to test the level of competence of cost estimation techniques amongst valuers and quantity surveyors and their responses were ranked. Furthermore, a two-sample t-test was used to compare the means of random samples drawn from the responses of these two populations. The findings showed that there was a lack of awareness more on the part of valuers than quantity surveyors when it came to the knowledge and use of current cost estimating methods when valuing properties using the DRC method of valuation. These findings also gave credence to the fact that the services of quantity surveyors most times were not commissioned when these cost estimates were to be determined for valuation, hence leading to properties being undervalued or overvalued. In a nutshell, the recommendations postulated dwelt on improving the cost estimating knowledge of estate surveyors and valuers through seminars, symposiums and workshops organised by NIESV and NIQS, awareness of the need for valuers to work with quantity surveyors to perfect valuation briefs involving the use of the DRC method and slight changes made to the curriculum of the study course “Estate Management” in tertiary institutions so as to accommodate taking courses in quantity surveying.

Open access

Irina Vladimirova, Galina Kallaur and Kseniia Bareshenkova

Abstract

Contemporary scientific research and practical experience in the field of investment and construction projects management prove advisability of planning management processes, including key directions such as scope, time and cost management throughout the lifecycle of a real estate asset. Under conditions of construction industry integration into digital environment and active search for innovative and high-tech ways of development, an urgent issue is to select effective digital methods and tools that correspond to each phase of real estate asset lifecycle and ensure interests of each participant of investment and construction project. The aim of the article is to investigate the digital methods of real estate asset lifecycle management. Through methods of analysis and systematization, the authors of the article have identified that internationally known software producers as well as the scientific community and some representatives of construction industry acknowledge the effectiveness of the currently relevant information modelling technologies (BIM); however, full implementation of BIM technologies in Russia is mainly restrained by low interest from most participants of investment and construction projects. Therefore, by applying methods of comparative analysis and statistical assessments, reported effects of BIM implementation, according to the international experience, have been compared with actual results received by Russian companies, which actively use information modelling technologies. In addition, systematization of modern digital methods and tools for real estate assets management in correspondence with aims of each phase of their lifecycle has been carried out within the framework of the research. As a result, factors for encouragement of BIM implementation based on the principles of public-private partnership have been formulated and, in conclusion, respective stimulation measures proposed.

Open access

Fereshteh Molla Mohammadi

Abstract

Foreign investment is a critical development strategy. The aim of the study was to investigate the factors affecting the attraction of foreign investment in Iran. The statistical population included foreign investment companies covered by the Foreign Investment Promotion and Protection Act and some experts from investment licensing executive agencies in Tehran province. A total of 400 subjects were enrolled in 2014-2017. The data analysis was performed using Kolmogorov-Smirnov test. All foreign investment companies covered by the investment promotion and protection law were studied by sampling. In addition, a non-random sampling method was used at the experts’ level in the operating systems and executive organisations. In the present research, the Cochran formula was used to determine the sample size being 400 subjects. As a result, 550 questionnaires were distributed and completed; finally, 400 questionnaires were received and analysed in a correct and complete manner. Within the framework of the research, the parametric test (t-test) and linear regression were used for data analysis and the hypotheses due to normal distribution. After analysing the data collected from results of the respondents’ responses and based on mathematical and statistical models, the most important factors affecting foreign investment attraction were the economic factor (p<0.001) followed by the social factor (p=0.002), the administrative bureaucracy (p=0.003), cultural factor (p=0.021) and the agent of the state (p=0.031), all of which exhibited a significant relationship. Based on the results, the economic and cultural factors were the most effective parameters affecting foreign investment.