Ahmad Abubakar Suleiman, M. Othman, Hanita Daud, Mohd Lazim Abdullah, E. A. Kadir, Ibrahim Lawal Kane, Abdullah Husin
Abstract The presence of volatility in residential property market prices helps investors generate substantial profit while also causing fear among investors since high volatility implies a high return with a high risk. In a financial time series, volatility refers to the degree to which the residential property market price increases or decreases during a particular period. The present study aims to forecast the volatility returns of real residential property prices (RRPP) in Malaysia using three different families of generalized autoregressive conditional heteroskedasticity (GARCH) models. The study compared the standard GARCH, EGARCH, and GJR-GARCH models to determine which model offers a better volatility forecasting ability. The results revealed that the GJR-GARCH (1,1) model is the most suitable to forecast the volatility of the Malaysian RRPP index based on the goodness-of-fit metric. Finally, the volatility forecast using the rolling window shows that the volatility of the quarterly index decreased in the third quarter (Q3) of 2021 and stabilized at the beginning of the first quarter (Q1) of 2023. Therefore, the best time to start investing in the purchase of real residential property in Malaysia would be the first quarter of 2023. The findings of this study can help Malaysian policymakers, developers, and investors understand the high and low volatility periods in the prices of residential properties to make better investment decisions.
{"title":"Forecasting the Volatility of Real Residential Property Prices in Malaysia: A Comparison of Garch Models","authors":"Ahmad Abubakar Suleiman, M. Othman, Hanita Daud, Mohd Lazim Abdullah, E. A. Kadir, Ibrahim Lawal Kane, Abdullah Husin","doi":"10.2478/remav-2023-0018","DOIUrl":"https://doi.org/10.2478/remav-2023-0018","url":null,"abstract":"Abstract The presence of volatility in residential property market prices helps investors generate substantial profit while also causing fear among investors since high volatility implies a high return with a high risk. In a financial time series, volatility refers to the degree to which the residential property market price increases or decreases during a particular period. The present study aims to forecast the volatility returns of real residential property prices (RRPP) in Malaysia using three different families of generalized autoregressive conditional heteroskedasticity (GARCH) models. The study compared the standard GARCH, EGARCH, and GJR-GARCH models to determine which model offers a better volatility forecasting ability. The results revealed that the GJR-GARCH (1,1) model is the most suitable to forecast the volatility of the Malaysian RRPP index based on the goodness-of-fit metric. Finally, the volatility forecast using the rolling window shows that the volatility of the quarterly index decreased in the third quarter (Q3) of 2021 and stabilized at the beginning of the first quarter (Q1) of 2023. Therefore, the best time to start investing in the purchase of real residential property in Malaysia would be the first quarter of 2023. The findings of this study can help Malaysian policymakers, developers, and investors understand the high and low volatility periods in the prices of residential properties to make better investment decisions.","PeriodicalId":37812,"journal":{"name":"Real Estate Management and Valuation","volume":"31 1","pages":"20 - 31"},"PeriodicalIF":0.8,"publicationDate":"2023-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48537626","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Abstract A real estate appraiser, using the liquidation cost method of the mixed approach in order to determine the value of real estate, analyzes, e.g. the value of post-demolition materials and the costs of liquidating components. The paper presents the problem of determining the costs of demolition works, which are correlated with the adopted demolition technology, the method of managing waste from post-demolition materials, and the costs incurred to maintain the occupational health and safety of employees and bystanders. Important elements of determining the demolition costs include the type of demolition waste and the relevant classification subgroup, the used demolition technology, and also the method of managing waste materials. The publication presents a calculation example that concerns the cost analysis of the demolition of a building structure. The demolition was performed using the mechanical method. The presented analyses cover different variants of carrying out works, whereas optimization refers to the different types of equipment used, available employee resources, and the various ways of recycling/managing post-demolition materials (storing, resale or processing). The conducted analyzes allow a multi-faceted approach to the subject matter to be obtained, and also an optimal solution to be selected by the participants of the investment process.
{"title":"Real Estate Appraisalusing the Liquidation Costmethod – A Case Study","authors":"M. Podwórna, Marek Sawicki","doi":"10.2478/remav-2023-0023","DOIUrl":"https://doi.org/10.2478/remav-2023-0023","url":null,"abstract":"Abstract A real estate appraiser, using the liquidation cost method of the mixed approach in order to determine the value of real estate, analyzes, e.g. the value of post-demolition materials and the costs of liquidating components. The paper presents the problem of determining the costs of demolition works, which are correlated with the adopted demolition technology, the method of managing waste from post-demolition materials, and the costs incurred to maintain the occupational health and safety of employees and bystanders. Important elements of determining the demolition costs include the type of demolition waste and the relevant classification subgroup, the used demolition technology, and also the method of managing waste materials. The publication presents a calculation example that concerns the cost analysis of the demolition of a building structure. The demolition was performed using the mechanical method. The presented analyses cover different variants of carrying out works, whereas optimization refers to the different types of equipment used, available employee resources, and the various ways of recycling/managing post-demolition materials (storing, resale or processing). The conducted analyzes allow a multi-faceted approach to the subject matter to be obtained, and also an optimal solution to be selected by the participants of the investment process.","PeriodicalId":37812,"journal":{"name":"Real Estate Management and Valuation","volume":"31 1","pages":"75 - 82"},"PeriodicalIF":0.8,"publicationDate":"2023-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41412971","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Abstract Satisfactory housing conditions define, in many aspects, people’s comfort and a high standard of living. The psychological and social characteristics of residents strongly determine housing needs and preferences. They also depend on economic, spatial, technical, and cultural factors. The Covid-19 pandemic, which humankind had been experiencing for two years, influenced all spheres of human life, especially inhabitation. The functional program of homes has changed, as well as public spaces, transportation and social ties. While the future is uncertain, the many changes provoked by the pandemic might become irreversible. This paper aims to present how the phenomena mentioned above have influenced the housing environment and residential preferences and trends that may follow. A survey conducted among Cracow residents in Autumn 2021 revealed a significant shift in lifestyles that corresponded with the change in residential needs, preferences and attitudes towards the housing environment. Working from home has induced redefining the use of particular rooms/spaces. For safety, families attempted to reorganize the entrance zone. Outdoor public spaces have become more appreciated following the trend of healthier everyday life. Over the long term, the pandemic experience may significantly influence the residential market.
{"title":"Housing and the Pandemic: How Has Covid-19 Influenced Residents’ Needs and Aspirations?","authors":"E. Stachura, Magdalena Jagiełło-Kowalczyk","doi":"10.2478/remav-2023-0010","DOIUrl":"https://doi.org/10.2478/remav-2023-0010","url":null,"abstract":"Abstract Satisfactory housing conditions define, in many aspects, people’s comfort and a high standard of living. The psychological and social characteristics of residents strongly determine housing needs and preferences. They also depend on economic, spatial, technical, and cultural factors. The Covid-19 pandemic, which humankind had been experiencing for two years, influenced all spheres of human life, especially inhabitation. The functional program of homes has changed, as well as public spaces, transportation and social ties. While the future is uncertain, the many changes provoked by the pandemic might become irreversible. This paper aims to present how the phenomena mentioned above have influenced the housing environment and residential preferences and trends that may follow. A survey conducted among Cracow residents in Autumn 2021 revealed a significant shift in lifestyles that corresponded with the change in residential needs, preferences and attitudes towards the housing environment. Working from home has induced redefining the use of particular rooms/spaces. For safety, families attempted to reorganize the entrance zone. Outdoor public spaces have become more appreciated following the trend of healthier everyday life. Over the long term, the pandemic experience may significantly influence the residential market.","PeriodicalId":37812,"journal":{"name":"Real Estate Management and Valuation","volume":"31 1","pages":"18 - 28"},"PeriodicalIF":0.8,"publicationDate":"2023-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47884186","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Abstract The aim of the paper is to find out what marketing tools are used by development companies operating in Poland to attract customers and whether the impact of the Fourth Industrial Revolution on marketing can be observed. The secondary aim of the paper is to determine whether developers building investments in the area of the restricted use area (O.O.U.) use more marketing tools to convince potential customers to buy. For this purpose, a secret client survey was used and the research sample consists of four development companies and four of their investments in Kraków. The research conducted led to the disclosure of marketing tools used by developers. The survey shows that some elements of home branding, storytelling and banner ads, social media ads, ads on websites and portals and information brochures are being used. Through the use of virtual walks, housing visualization and the use of social media in advertising, the impact of the Fourth Industrial Revolution on marketing in the industry can be seen. The analysis shows that companies creating developments in the restricted use area are not using more tricks to attract customers. All developers selected for the study use a similar number of marketing tools.
{"title":"Analysis of Marketing Tools Used by Real Estate Development Companies Using Secret Client Research – a Case Study From Krakow","authors":"Klaudia Tomasik, B. Marona","doi":"10.2478/remav-2023-0011","DOIUrl":"https://doi.org/10.2478/remav-2023-0011","url":null,"abstract":"Abstract The aim of the paper is to find out what marketing tools are used by development companies operating in Poland to attract customers and whether the impact of the Fourth Industrial Revolution on marketing can be observed. The secondary aim of the paper is to determine whether developers building investments in the area of the restricted use area (O.O.U.) use more marketing tools to convince potential customers to buy. For this purpose, a secret client survey was used and the research sample consists of four development companies and four of their investments in Kraków. The research conducted led to the disclosure of marketing tools used by developers. The survey shows that some elements of home branding, storytelling and banner ads, social media ads, ads on websites and portals and information brochures are being used. Through the use of virtual walks, housing visualization and the use of social media in advertising, the impact of the Fourth Industrial Revolution on marketing in the industry can be seen. The analysis shows that companies creating developments in the restricted use area are not using more tricks to attract customers. All developers selected for the study use a similar number of marketing tools.","PeriodicalId":37812,"journal":{"name":"Real Estate Management and Valuation","volume":"31 1","pages":"29 - 38"},"PeriodicalIF":0.8,"publicationDate":"2023-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42743971","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Abstract The purpose of this study is to identify the knowledge of the real estate market by students and graduates and to find out their housing and investment plans. A literature study relating to the real estate market was conducted. The diagnostic survey method was used to determine the housing and investment plans of students and graduates, their expectations regarding changes in housing policy, and their level of knowledge of basic concepts and relationships related to the real estate market. The survey was conducted in March 2022 among students and graduates of Wroclaw University of Economics and Business. The great majority of the respondents consider the housing policy in Poland to need changes, mainly in the direction of greater support for young people, lowering the costs of mortgage loans and reducing the formalities associated with the construction of real estate. Moreover, research indicates that less than half of young people are able to fully support themselves during or shortly after graduation. Only one in four respondents had a disposable income of more than PLN 2,000. Many students and graduates plan to purchase real estate in the future, and nearly 60% of respondents intend to finance the purchase with a mortgage.
{"title":"Real Estate Market Perceptions, Housing and Investment Plans of Students and Graduates","authors":"Patrycja Konieczna, Natalia Konar","doi":"10.2478/remav-2023-0013","DOIUrl":"https://doi.org/10.2478/remav-2023-0013","url":null,"abstract":"Abstract The purpose of this study is to identify the knowledge of the real estate market by students and graduates and to find out their housing and investment plans. A literature study relating to the real estate market was conducted. The diagnostic survey method was used to determine the housing and investment plans of students and graduates, their expectations regarding changes in housing policy, and their level of knowledge of basic concepts and relationships related to the real estate market. The survey was conducted in March 2022 among students and graduates of Wroclaw University of Economics and Business. The great majority of the respondents consider the housing policy in Poland to need changes, mainly in the direction of greater support for young people, lowering the costs of mortgage loans and reducing the formalities associated with the construction of real estate. Moreover, research indicates that less than half of young people are able to fully support themselves during or shortly after graduation. Only one in four respondents had a disposable income of more than PLN 2,000. Many students and graduates plan to purchase real estate in the future, and nearly 60% of respondents intend to finance the purchase with a mortgage.","PeriodicalId":37812,"journal":{"name":"Real Estate Management and Valuation","volume":"31 1","pages":"52 - 65"},"PeriodicalIF":0.8,"publicationDate":"2023-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49539559","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Abstract The rental market in Poland is underdeveloped, not subject to any statutory registers, and based primarily on small, private owners. The article estimates the duration of residential rental properties that have been reported to the listing exchange system using duration methods. Duration methods also allow the analysis to include those properties that were not rented at the time the analysis was completed, but their owners continued to report their willingness to rent. The article presents the results of the analysis of how long it takes to rent an apartment over the entire analysis period and in each year separately. The presented study is the first to examine the duration of residential real estate offerings for rent in the Polish market. Considering the entire analysis period, 25% of the reported apartments were rented in 7.3 weeks. The fastest 25% of rental offers were successful (rented) in 2019 – 4.86 weeks. The longest apartment owners waited for a tenant was in 2020 – more than 8 weeks, which was undoubtedly influenced by the lockdown of the entire country, and the change in the organization of work and study (remote work and studies, which did not require being in the city).
{"title":"Duration of the Rental Offer for Residential Property","authors":"Anna Gdakowicz, Ewa Putek-Szeląg, Marcin Bas","doi":"10.2478/remav-2023-0015","DOIUrl":"https://doi.org/10.2478/remav-2023-0015","url":null,"abstract":"Abstract The rental market in Poland is underdeveloped, not subject to any statutory registers, and based primarily on small, private owners. The article estimates the duration of residential rental properties that have been reported to the listing exchange system using duration methods. Duration methods also allow the analysis to include those properties that were not rented at the time the analysis was completed, but their owners continued to report their willingness to rent. The article presents the results of the analysis of how long it takes to rent an apartment over the entire analysis period and in each year separately. The presented study is the first to examine the duration of residential real estate offerings for rent in the Polish market. Considering the entire analysis period, 25% of the reported apartments were rented in 7.3 weeks. The fastest 25% of rental offers were successful (rented) in 2019 – 4.86 weeks. The longest apartment owners waited for a tenant was in 2020 – more than 8 weeks, which was undoubtedly influenced by the lockdown of the entire country, and the change in the organization of work and study (remote work and studies, which did not require being in the city).","PeriodicalId":37812,"journal":{"name":"Real Estate Management and Valuation","volume":"31 1","pages":"82 - 91"},"PeriodicalIF":0.8,"publicationDate":"2023-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44600663","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Abstract This paper examines the material damage caused to the owner of the property as a result of the violation of the design rules. This phenomenon was observed by the authors participating in the period 2018-2021 in the assessment of over 500 construction projects of residential blocks on the territory of the Republic of Moldova. In about 50% was found a violation of lighting regulations. Through this study, we aimed to investigate the ways to assess the extent of the damage caused by the reduction of the level of daylight lighting in residential buildings in the specific conditions of the real estate market in the Republic of Moldova. This paper aims to: Identify the legislative and normative framework that regulates the process of ascertaining the damage caused to the owner of the residential real estate following the reduction of the level of sunshine and natural lighting; Determine the consequences of reducing the level of sunshine and natural lighting for residential buildings; Propose methods for estimating the material damage caused to the owner of the damaged real estate under the conditions of the Republic of Moldova.
{"title":"Assessment of Damage Caused by the Reduction of Daylight Lighting Duration of Residential Constructions in the Conditions of the Republicof Moldova","authors":"Svetlana Albu, Valeriu Ivanov, Ion Albu","doi":"10.2478/remav-2023-0012","DOIUrl":"https://doi.org/10.2478/remav-2023-0012","url":null,"abstract":"Abstract This paper examines the material damage caused to the owner of the property as a result of the violation of the design rules. This phenomenon was observed by the authors participating in the period 2018-2021 in the assessment of over 500 construction projects of residential blocks on the territory of the Republic of Moldova. In about 50% was found a violation of lighting regulations. Through this study, we aimed to investigate the ways to assess the extent of the damage caused by the reduction of the level of daylight lighting in residential buildings in the specific conditions of the real estate market in the Republic of Moldova. This paper aims to: Identify the legislative and normative framework that regulates the process of ascertaining the damage caused to the owner of the residential real estate following the reduction of the level of sunshine and natural lighting; Determine the consequences of reducing the level of sunshine and natural lighting for residential buildings; Propose methods for estimating the material damage caused to the owner of the damaged real estate under the conditions of the Republic of Moldova.","PeriodicalId":37812,"journal":{"name":"Real Estate Management and Valuation","volume":"31 1","pages":"39 - 51"},"PeriodicalIF":0.8,"publicationDate":"2023-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43845471","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
P. Muzindutsi, R. Apau, Lorraine Muguto, Hilary Tinotenda Muguto
Abstract While prior studies have examined the predictive effect of macroeconomic and country risk components on property stock index dynamics, limited explanations exist in the literature regarding the time-varying effect of investor sentiment on housing prices. Accordingly, this study assesses the impact of investor sentiment on housing properties’ returns and the effect of investor sentiment on the conditional volatility of housing price indices under different market conditions, using GARCH, GJR-GARCH, E-GARCH and Markov-switching VAR models. We found investor sentiment to significantly impact the risk premium of the property returns, where property returns increased with positive changes in investor sentiment, and conditional volatility of property returns decreased with the same changes in investor sentiment. Investor sentiment exerts positive predictive influences on the prices of small and medium houses, in both bullish and bearish market conditions but does not affect the large housing market segment. This makes the implementation of risk-related diversification across small and medium real estate portfolios more effective than large real estate portfolios. Our findings show that investor sentiment is a plausible driver of mass investor redemption actions under conditions of uncertainty.
{"title":"The Impact of Investor Sentiment on Housing Prices and the Property Stock Index Volatility in South Africa","authors":"P. Muzindutsi, R. Apau, Lorraine Muguto, Hilary Tinotenda Muguto","doi":"10.2478/remav-2023-0009","DOIUrl":"https://doi.org/10.2478/remav-2023-0009","url":null,"abstract":"Abstract While prior studies have examined the predictive effect of macroeconomic and country risk components on property stock index dynamics, limited explanations exist in the literature regarding the time-varying effect of investor sentiment on housing prices. Accordingly, this study assesses the impact of investor sentiment on housing properties’ returns and the effect of investor sentiment on the conditional volatility of housing price indices under different market conditions, using GARCH, GJR-GARCH, E-GARCH and Markov-switching VAR models. We found investor sentiment to significantly impact the risk premium of the property returns, where property returns increased with positive changes in investor sentiment, and conditional volatility of property returns decreased with the same changes in investor sentiment. Investor sentiment exerts positive predictive influences on the prices of small and medium houses, in both bullish and bearish market conditions but does not affect the large housing market segment. This makes the implementation of risk-related diversification across small and medium real estate portfolios more effective than large real estate portfolios. Our findings show that investor sentiment is a plausible driver of mass investor redemption actions under conditions of uncertainty.","PeriodicalId":37812,"journal":{"name":"Real Estate Management and Valuation","volume":"31 1","pages":"1 - 17"},"PeriodicalIF":0.8,"publicationDate":"2023-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49075247","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Abstract The study aims to determine the influencing factors and their impact levels on residential land prices. The research investigated 241 officials, real estate investors, appraisers, and real estate brokers on factors affecting residential land prices. Research results have shown 13 groups with 45 factors affecting the price of residential land. The impact rates of the factor groups range from 1.43% to 23.65%. The COVID-19 pandemic factor group has the strongest impact on land prices, followed by other factor groups, including upgrading administrative units; formulation and implementation of the planning; the real estate market; financial – economics; credit; real estate brokerage; infrastructure; location of the land parcel; particular factors; juridical factors; environment and social security. To harmonize the interests of the State, investors, and land users when valuing land, it is necessary to pay attention to the factors that strongly impact land prices first, and then the smaller ones.
{"title":"The Impact of Factors on Residential Land Prices: A Case Study in Tu Son City, Vietnam","authors":"Pham Phuong Nam, N. T. Huế, P. T. T. Huyen","doi":"10.2478/remav-2023-0014","DOIUrl":"https://doi.org/10.2478/remav-2023-0014","url":null,"abstract":"Abstract The study aims to determine the influencing factors and their impact levels on residential land prices. The research investigated 241 officials, real estate investors, appraisers, and real estate brokers on factors affecting residential land prices. Research results have shown 13 groups with 45 factors affecting the price of residential land. The impact rates of the factor groups range from 1.43% to 23.65%. The COVID-19 pandemic factor group has the strongest impact on land prices, followed by other factor groups, including upgrading administrative units; formulation and implementation of the planning; the real estate market; financial – economics; credit; real estate brokerage; infrastructure; location of the land parcel; particular factors; juridical factors; environment and social security. To harmonize the interests of the State, investors, and land users when valuing land, it is necessary to pay attention to the factors that strongly impact land prices first, and then the smaller ones.","PeriodicalId":37812,"journal":{"name":"Real Estate Management and Valuation","volume":"31 1","pages":"66 - 81"},"PeriodicalIF":0.8,"publicationDate":"2023-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45339349","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Abstract For many years, the increase of energy derived from renewable sources in the total production of electricity, has been an important aim for both central and local authorities in many countries, including Poland. –Many investments undertaken in this area contribute to sustainable development. One of the branches of "green energy" may be prosument production induced by residential self-sufficient estates. The number of technologies and facilities-related developments have been growing in each EU country every year. The current article, aims to examine the potential influence of self-sufficient estates on "green energy" production and thus on sustainable development in Poland. In order to achieve the above, case studies were undertaken. They showed the profitability of examined photovoltaic installations and capability of the sector in energy production.
{"title":"Influence of Energy Self-Sufficient Housing Estates on Sustainable Development in Poland","authors":"Dariusz Trojanowski, Łukasz Kozak","doi":"10.2478/remav-2023-0016","DOIUrl":"https://doi.org/10.2478/remav-2023-0016","url":null,"abstract":"Abstract For many years, the increase of energy derived from renewable sources in the total production of electricity, has been an important aim for both central and local authorities in many countries, including Poland. –Many investments undertaken in this area contribute to sustainable development. One of the branches of \"green energy\" may be prosument production induced by residential self-sufficient estates. The number of technologies and facilities-related developments have been growing in each EU country every year. The current article, aims to examine the potential influence of self-sufficient estates on \"green energy\" production and thus on sustainable development in Poland. In order to achieve the above, case studies were undertaken. They showed the profitability of examined photovoltaic installations and capability of the sector in energy production.","PeriodicalId":37812,"journal":{"name":"Real Estate Management and Valuation","volume":"31 1","pages":"92 - 101"},"PeriodicalIF":0.8,"publicationDate":"2023-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46648844","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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