scholarly journals Social Housing: An Appraisal Model of the Economic Benefits in Urban Regeneration Programs

2020 ◽  
Vol 12 (2) ◽  
pp. 609 ◽  
Author(s):  
Lucia Della Spina ◽  
Francesco Calabrò ◽  
Alessandro Rugolo
Keyword(s):  
Decision Making ◽  
Real Estate ◽  
Social Housing ◽  
Urban Regeneration ◽  
Economic Benefits ◽  
Real Estate Market ◽  
Economic Feasibility ◽  
Ease Of Use ◽  
Decision Making Process ◽  
Financial Feasibility

The decision-making process relating to Social Housing (SH) policies and projects involves social and urban transformations and is consequently linked to urban planning, urban regeneration projects, the dynamics of the real estate market and cooperation between public and private developers. Furthermore, this decision-making process must be supported by assessments relating to economic feasibility and assessments on social and environmental sustainability. The paper illustrates a decision support evaluation model for the implementation of integrated urban redevelopment programs related to Social Housing interventions to be implemented in PPP. The model is based on the search for an economic balance between the interests of the parties involved, with the aim of maximizing the share of housing in SH by minimizing the public contribution quota. The model was developed on a degraded settlement of Public Residential Construction, the subject of a wider urban regeneration program in the Municipality of Reggio Calabria (Italy). Considering the financial feasibility constraint for the developer and the conditions of the local real estate market, with the risk of the investment attached to it, the model makes it possible to verify the economic sustainability and the financial feasibility of the interventions in SH through the estimation of: (i) The profit of the developer/investor; (ii) the trade-in value to be paid to the developer against the investment; (iii) the maximum share of SH to be carried out in development. The research and the results obtained highlight the utility of the model and the ease of use in the programming phase, in relation to urban regeneration programs that involve interventions in SH.

scholarly journals An Analysis of Preferences in Housing Demand by Means of a Multicriteria Methodology (AHP). A More Sustainable Approach

2021 ◽  
Vol 13 (14) ◽  
pp. 7550
Author(s):  
Roberto Cervelló-Royo ◽  
Marina Segura ◽  
Regina García-Pérez ◽  
Baldomero Segura-García del Río
Keyword(s):  
Decision Making ◽  
Real Estate ◽  
Real Estate Market ◽  
Housing Demand ◽  
Decision Making Process ◽  
Analytic Hierarchy ◽  
The Real Estate ◽  
Qualitative Relationship ◽  
Key Aspects ◽  
Housing Attributes

This paper examines key aspects of the behavior of housing demand from a sustainable standpoint. Most studies have mainly focused on housing supply, looking at quantitative predictions without considering the qualitative relationship found between housing values and housing demand on a sustainable and microeconomic scale. We used a multicriteria decision methodology (analytic hierarchy process—AHP) for the analysis of preferences in demand, based on the theory of multi-attribute utility of housing, to determine the relative importance of each characteristic of housing and its influence on the decision-making process. For this purpose, we carried out the study over three main groups of stakeholders in the housing market: real estate surveyors, real estate agents, and housing buyers (the latter representing the housing demand). Results show that although there might be some slight discrepancies among the three groups in the decision-making process and the weighting of housing attributes, the three groups agree in most of the process, especially when defining the criteria and the importance that each criterion has on the process of valuation. This study provides important managerial and sustainable implications for the real estate market related to urban public policy, as we highlight which criteria are most preferred.

scholarly journals Contribution to the analysis of the Czech real-estate development market

2008 ◽  
Vol 56 (6) ◽  
pp. 113-122
Author(s):  
Martina Procházková ◽  
Jana Turčínková
Keyword(s):  
Decision Making ◽  
Real Estate ◽  
Process Model ◽  
Western Europe ◽  
Real Estate Market ◽  
Development Project ◽  
Real Estate Development ◽  
Decision Making Process ◽  
Real Property ◽  
Factors Affecting

Czech economy went through a substantial transformation in last two decades affecting business environments of all fields. This paper presents partial results of the Czech development market ana­ly­sis. It explains the characteristics of real-estate development, real-estate development market and the complexity of the real-estate development process, including market research, site selection (using feasibility analysis), due diligence, property acquisition, project design, obtaining entitlements, financing, construction, lease-up or sale or operation, if the project is retained as and asset.The significant growth in last decade of the analyzed market is slowing down due to current greater circumspection of banks when providing credits for new development projects, drop of real pro­per­ty prices in Western Europe and at the same time greater revenues from real properties in Eastern Europe. The inhibition of the investment in commercial real property (both what number of transactions concerns, and total volume of investment) is influenced by so-called mortgage crisis on the U. S. and British real estate market. In Czech market, the factors are reflected in a number of respects.The paper suggests future steps of the intended research, focus on identification of factors affecting decision-making process when preparing real-estate development project, finding interrelationships among these factors, quantification and setting weight of the factors, creation of a decision-making process model and its test on a real case. The model should contribute to decrease waste of time and money investment in these feasibility calculations by providing a tool which helps pre-select projects with higher chance of success in earlier phase.

scholarly journals Multicriteria Evaluation of Urban Regeneration Processes: An Application of PROMETHEE Method in Northern Italy

2018 ◽  
Vol 2018 ◽  
pp. 1-12 ◽  
Author(s):  
Marta Bottero ◽  
Chiara D’Alpaos ◽  
Alessandra Oppio
Keyword(s):  
Decision Making ◽  
Decision Problem ◽  
Swot Analysis ◽  
Evaluation Model ◽  
Methodological Approach ◽  
Urban Regeneration ◽  
Northern Italy ◽  
Decision Making Process ◽  
Promethee Method ◽  
Regeneration Processes

The paper illustrates the development of an evaluation model for supporting the decision-making process related to an urban regeneration intervention. In particular, the study proposes an original multi-methodological approach, which combines SWOT Analysis, Stakeholders Analysis and PROMETHEE method for the evaluation of alternative renewal strategies of an urban area in Northern Italy. The article also describes the work carried out within an experts’ panel that has been organized for validating the structuring of the decision problem and for evaluating the criteria of the model.

A post-global financial crisis (GFC) framework for strategic planning, assessment and management decision making for US sustainable commercial real estate

2017 ◽  
Vol 35 (6) ◽  
pp. 589-618 ◽  
Author(s):  
Pernille Hoy Christensen
Keyword(s):  
Decision Making ◽  
Financial Crisis ◽  
Real Estate ◽  
Performance Indicators ◽  
Institutional Investors ◽  
Global Financial Crisis ◽  
Real Estate Market ◽  
Commercial Real Estate ◽  
Content Type ◽  
Sustainability Initiatives

Purpose The purpose of this paper is to understand both the facts and the values associated with the breadth of issues, and the principles related to sustainable real estate for institutional investors. Sustainable real estate is a growing sector within the commercial real estate industry, and yet, the decision-making practices of institutional investors related to sustainability are still not well understood. In an effort to fill that gap, this research investigates the post-global financial crisis (GFC) motivations driving the implementation of sustainability initiatives, the implementation strategies used, and the predominant eco-indicators and measures used by institutional investors. Design/methodology/approach This paper presents the results of a three-round modified Delphi study conducted in the USA in 2011-2012 investigating the nature of performance measurements and reporting requirements in sustainable commercial real estate and their impact on the real estate decision-making process used by institutional investors. Two rounds of in-depth interviews were conducted with 14 expert panelists. An e-questionnaire was used in the third round to verify qualitative findings. Findings The key industry drivers and performance indicators influencing institutional investor decision making were associated with risk management of assets and whether initiatives can improve competitive market advantage. Industry leaders advocate for simple key performance indicators, which is in contrast to the literature which argues for the need to adopt common criteria and metrics. Key barriers to the adoption of sustainability initiatives are discussed and a decision framework is presented. Practical implications This research aims to help industry partners understand the drivers motivating institutional investors to uptake sustainability initiatives with the aim of improving decision making, assessment, and management of sustainable commercial office buildings. Originality/value Building on the four generations of the sustainability framework presented by Simons et al. (2001), this research argues that the US real estate market has yet again adjusted its relationship with sustainability and revises their framework to include a new, post-GFC generation for decision making, assessment, and management of sustainable real estate.

scholarly journals Fuzzy Specification in Real Estate Market Decision Making

2010 ◽  
Vol 3 (1) ◽  
pp. 8-20 ◽  
Author(s):  
Victoria López ◽  
Matilde Santos ◽  
Javier Montero
Keyword(s):  
Decision Making ◽  
Real Estate ◽  
Real Estate Market

scholarly journals The changing real estate market transparency in the European real estate markets

2016 ◽  
Vol 34 (4) ◽  
pp. 407-420 ◽  
Author(s):  
Graeme Newell
Keyword(s):  
Decision Making ◽  
Real Estate ◽  
Real Estate Market ◽  
Real Estate Investment ◽  
Content Type ◽  
Real Estate Markets ◽  
Market Transparency ◽  
Global Context ◽  
Business Competitiveness ◽  
Risk Dimensions

Purpose – Real estate market transparency is an important factor in real estate investment and occupier decision making. The purpose of this paper is to assess real estate transparency over 2004-2014 to determine whether the European real estate markets have become more transparent in a regional and global context. Design/methodology/approach – Using the JLL real estate transparency index over 2004-2014, changes in real estate market transparency are assessed for 102 real estate markets. This JLL real estate market transparency index is also assessed against corruption levels and business competitiveness in these markets. Findings – Improvements in real estate transparency are clearly evident in many European real estate markets, with several of these European real estate markets seen to be the major improvers in transparency from a global real estate markets perspective. Practical implications – Institutional investors and occupiers see real estate market transparency as a key factor in their strategic real estate investment and occupancy decision making. By assessing changes in real estate transparency across 102 real estate markets, investors and occupiers are able to make more informed real estate investment decisions across the global real estate markets. In particular, this relates to both investors and occupiers being able to more fully understand the risk dimensions of their international real estate decisions. Originality/value – This paper is the first paper to assess the dynamics of real estate market transparency over 2004-2014, with a particular focus on the 33 European real estate markets in a global context to facilitate more informed real estate investment and occupancy decision making.

scholarly journals Economic Comparison of Satellite, Plane and UAV-Acquired NDVI Images for Site-Specific Nitrogen Application: Observations from Italy

Agronomy ◽  
2021 ◽  
Vol 11 (11) ◽  
pp. 2098
Author(s):  
Marco Sozzi ◽  
Ahmed Kayad ◽  
Stefano Gobbo ◽  
Alessia Cogato ◽  
Luigi Sartori ◽  
...  
Keyword(s):  
Remote Sensing ◽  
Decision Making ◽  
Optical Properties ◽  
High Resolution ◽  
Economic Benefits ◽  
Decision Making Process ◽  
Variable Rate ◽  
Nitrogen Application ◽  
Sensing Platforms ◽  
Medium Resolution

Defining the most profitable remote sensing platforms is a difficult decision-making process, as it requires agronomic and economic considerations. In this paper, the price and profitability of three levels of remote sensing platforms were evaluated to define a decision-making process. Prices of satellite, plane and UAV-acquired vegetation indices were collected in Italy during 2020 and compared to the economic benefits resulting from variable rate nitrogen application, according to a bibliographic meta-analysis performed on grains. The quality comparison of these three technologies was performed considering the error propagation in the NDVI formula. The errors of the single bands were used to assess the optical properties of the sensors. Results showed that medium-resolution satellite data with good optical properties could be profitably used for variable rate nitrogen applications starting from 2.5 hectares, in case of medium resolution with good optical properties. High-resolution satellites with lower optical quality were profitable starting from 13.2 hectares, while very high-resolution satellites with good optical properties could be profitably used starting from 76.8 hectares. Plane-acquired images, which have good optical properties, were profitable starting from 66.4 hectares. Additionally, a reference model for satellite image price is proposed.

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