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Projected Job and Investment Impacts of Policy Requiring 25% Renewable Energy by 2025 in Michigan
The evidence connecting social sustainability with profit and value building is presented in the second section and supports research the author presented at a previous PRRES conference (Kimmet 2006). This is vital support for justifying the understanding, and ultimately measuring, the social sustainability component of real estate. Finally, conclusions about capitalising on redefined sustainable real estate that values social aspects equally with economic and environmental components are drawn. ...
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Indices for Investment Benchmarking and Return Performance Analysis in Private Real Estate
Social sustainability emerges from ideas about good corporate citizenship and social responsibility. When used in conjunction with triple bottom line frameworks, the term implies that humans matter at least as much as economics and the environment. It is concerned with the durability and function at 3 levels: the broad scale of social networks, the more intimate level of relationships, and the individual quantum of well-being. All 3 of these levels feed into the productivity mix. Moreover, a major implication of sustainability is that a balance of these 3 dimensions will result in more durable productivity than incongruent levels...
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Evaluating risk in real estate investments in areas of special value and environmental beauty - Italy
What investors must realise is that despite their intangible nature, the most valuable aspects of real estate assets are those that provide the best possible human outcomes into the future. These benefits build demand and result in higher and more sustained returns This alone elevates the importance of social sustainability in the real estate mix, and is bringing a particular focus to construction and management standards as a major factor in improving the worth of asset holdings. Understanding what actually makes up desirable real estate therefore underpins an appreciation of social sustainability within a property context. Properties alone...
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Redefining Sustainable Real Estate Investment
Sustainability is a powerful buzzword for good reason. It is strongly connected to notions such as endurance, flexibility, quality and alternative thinking – all of which are increasingly emerging as building blocks of financially successful enterprise. And real estate that has incorporated these aspects clearly is increasingly acquiring a competitive advantage over other product in the market. Sustainability then, as far as real estate is concerned, is about the more durable processes and practices of the humans that interact with the property. Implicit in this sustainability approach to real estate investment is the exercise of greater social...
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Diversification Benefits of Real Estate Investment Trusts in Dubai
In the implementation of our strategy we focus on the following ESG factors: Environmental: For us this means that we focus on climate change. We believe that climate change issues are very important and that climate change (related) policy will lead to more focus on, for instance, energy efficiency and urban regeneration and that it will lead to shifting tenant and investor preferences; Social: For us this means that we focus on human rights and work conditions. In the development, construction and operation phase of property, issues regarding human rights and work conditions are liable to arise....
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The Interaction between Housing Investment and Economic Growth in China
The Wharton investment courses are designed to meet the needs of multiemployer and public plan trustees, administrators and staff, human resources and benefits professionals, corporate officers and executives, finance personnel, investment professionals and fiduciaries who represent both defined benefit and defined contribution plans. Representatives of funds from various types, sizes and geographic areas, including Canada, will benefit from the courses. The courses are independent units that may be completed in any sequence, although we strongly encourage individuals with little investment course experience to complete the Portfolio Concepts and Management course as a foundation prior to attending the Advanced Investments Management...
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UNDERSTANDING THE BARRIERS TO REAL ESTATE INVESTMENT IN DEVELOPING ECONOMIES
Despite ongoing domestic political tension, vulnerabilities in the economy and continued volatility in global financial markets, Turkey remains an attractive longer-term investment market, being the second most populous country in Europe after Germany and the sixth largest European economy. It has a young and growing population of over 70 million – 43% of the Turkish population is under the age of 25 and sizable migration to the country’s cities is taking place. These demographic trends compare favourably against those of aging Europe. In addition, Turkey has increased its real per capita GDP in USD terms by more than 30% over...
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RESIDENTIAL RENTAL REAL ESTATE: AN INVESTMENT IN NEED OF A THEORY
The economy has made considerable progress in shaking off the legacy of the 2001 economic crisis and is on a path of growth and increased trade integration, underpinned by improved macro- economic stability and structural reforms. During the last five years real GDP growth has been impressive, with an annual average growth rate of 6.9%; inflation fell from an average of 77.5% in the 1990s to single digits between 2005 and 2007; interest rates have declined with a cautious monetary policy stance; and reductions in the ratios of fiscal deficit and public debt to GDP have created a positive environment. These...
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Baker & McKenzie analyzes the next step for Thai REITs
Global credit squeeze, escalating political tensions and monetary tightening will weigh on economic growth in 2008. From 2006 to 2007, the annual growth rate decreased from 6.9% to 4.5%. Slower growth in 2007 was attributable to the strength of the Turkish currency, which hurt the export industry, the delayed effects of monetary tightening in mid-2006 and a drought-related drop in agricultural output. The most significant slowdowns in growth in 2007 were in agriculture, construction and manufacturing. The unfavourable developments in the global economy which began during the second half of 2007 have increased downside risks on domestic and external demand...
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The Benefits of Real Estate Investment
From 2005 through the first half of 2007, construction was one of the most important growth sectors in the Turkish economy. Private con- struction projects and public investments supported this growth. But, by the end of 2007, construction activity stagnated. Rising prices of commodities, including iron, copper, steel and cement have con- tributed to increased construction costs. The real estate market has also seen a slowdown in growth since late 2006, affected success- ively by the economic turmoil of May-June 2006, an unease in domestic markets due to political tensions surrounding the 2007 elections, global market volatility due to the subprime mortgage crisis...
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PRIVATE RESIDENCE CLUBS/HIGH-END FRACTIONALS
Banks dominate the financial system in Turkey and the asset size of the sector has increased by more than threefold in the last six years, exceeding USD 500 bn by the end of 2007. Banking and capital markets regulation and supervision have substantially improved. The capital adequacy ratio of the sector stood at 18.8% in 2007, well above the EU average, and non-performing loan (NPL) ratios have fallen. FDI into the banking system has surged since 2005 and the share of total capital of the banking sector held by foreign investors is now at more than 40%. The entry of...
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JAPAN REAL ESTATE INVESTMENT CORPORATION ANNOUNCEMENT OF TWENTYFIRST FISCAL PERIOD RESULTS
Interest rate risk remains high for banks because of a duration mis- match between deposits relative to banks’ holdings of government securities and certain housing loans. Exchange rate risk is less of a concern as banks have only a small net foreign exchange position and hedges are generally considered to be with strong institutions. In addition, large Turkish corporates have high foreign-exchange (FX) liabilities, often to foreign lenders, more willing to provide financing as markets stabilised after the crisis in 2001. 3 There has been an upsurge in Turkish private sector borrowing since 2005: from USD 30 bn to USD 89 bn...
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A Post-autistic Approach to the Study of Real Estate Investment Decision Making.
In recent decades a significant part of the land use changes caused by the population expansion in Turkish cities has not followed an urban development plan but was rather driven by unlicensed build- ing activities. 5 As an example, the built-up area in the province of Istanbul increased by more than 40% between 1990 and 2005. New settlements were typically erected on public land near water bodies and in areas that had been made more accessible by new trans- portation routes like the Transit European Motorway, the E-5 and the second Bosphorus Bridge. 6 This rapid urban growth makes it difficult to ensure...
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Evaluating risk in real estate investments in areas of special value and environmental beauty
Long-term challenges remain: continuing with structural reforms, maintaining rapid and steady economic growth and fiscal discipline, boosting employment, reining in the informal economy, and making progress with respect to EU accession. While the latter is expected to be a long and complicated process, it will remain a driving force for Turkey’s reform efforts. In addition, accelerating the reform process will be vital for a positive outlook. Recent political turmoil and upcoming local elections in 2009 could become a distraction for further reforms. The key drivers for the reform agenda will be: the government's decision on a new agreement with the...
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Flower Residential Properties: A Real Estate Investment Trust Case Study
Population growth and inter-regional migration have been and will be significant drivers for the Turkish real estate markets. The last census counted a population of roughly 70.6 m at the end of 2007, significantly less than previously forecast from the census 2000 data. Nevertheless, the population is growing at a fast pace com- pared to most industrialised countries. In addition, two further trends are noteworthy. Urbanisation is advancing and migration patterns within Turkey favour economically burgeoning provinces. According to our forecast on the basis of UN projections the overall population of Turkey will grow strongly but at a moderating pace...
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Commercial Real Estate Investment
The economy continues to undergo structural change as it shifts from being dominated by the agricultural sector. The shares of the service and industry sector in real GDP have increased over the last three decades, whereas agriculture accounts for little more than 10% today compared to 25% in the mid-1970s. Because of the widely diverging labour productivities in the different sectors and significant employment of unpaid family workers in agriculture these changes are not fully reflected in the sectors’ shares in employment. Even though the services share in the Istanbul region is among the highest in the country, the overwhelming...
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Gauging the Investment Potential of International Real Estate Markets
Turkey’s per capita GDP is catching up and in purchasing power parity had reached 30% of the EU-27 average in 2006. The distribution of this income is very broad, both across households and across regions. The average household income in the city of Trabzon in the north-east of Turkey was only 30% of the country average (2003) whereas incomes in Ankara and Istanbul were 65% and 85% higher than the average. The specialisation of the big cities on the service sector and the shift to the fringes of these agglomerations by manufacturing industries is set to change migration patterns....
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FOREIGN INVESTMENT IN U.S. REAL ESTATE
The retail sector spearheaded the evolution of Turkey’s commercial property market. Within a few years, domestic retailers expanded and consolidated to form regional and national chains. Cross-border retailers entered the market, benefiting from the country’s strong economic growth, limited legal barriers to entry and attracted by high growth potential. Approximately 190 shopping centres had been built in the country by February 2008, although most shopping centre developments were delayed until 2003, due to the contraction of the Turkish economy following the economic crisis in 2001. 14 Ever since, the retail market has been the fastest-growing sector of the Turkish real estate...
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Equities, “new hard currencies” and real estate in 2013
Due to saturation in some of the big Turkish cities and rapidly increasing land prices, many developers and institutional investors are forced to look beyond the biggest cities and explore secondary cities, like Mersin, Samsun, Kocaeli and Diyarbakir. Mersin for example, is a sizable city with a busy port on the Mediterranean coast of southern Turkey and an industrialised and commercially active city. It has already attracted a number of retail investment projects and houses five shopping centres, with the capacity to absorb further centres. Its retail profile is very similar to that of Athens, and its spending per m2 ...
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Indirect Investment In Real Estate: Listed Companies And Funds
In Istanbul, the business and financial services sectors form the major source of demand, with letting activity being mainly con- centrated on the European side, where more office space exists. The city’s modern Central Business District (CBD) is stretched on a ‘strip’ on the European side that crosses two separate boroughs and includes the areas of Levent, Esentepe, Zincirlikuyu and Maslak. The high quality office buildings (Class A) are mainly found in Levent and Maslak. Maslak is expected to receive additional office occupier interest now that the metro line extension is underway. The office buildings on the Asian side are mainly...
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Real Estate Investment In Turkey: Look Beyond Intanbul
Going forward, the upward pressure on rents is likely to continue, albeit at a moderate pace. The shortage of available land, coupled with very high land prices restricts further office space develop- ments, particularly in the CBD. Moreover, the current financial and economic slowdown means that fewer new enterprises will seek to enter the Turkish market in the next 24 months. The current supply pipeline will then limit rental growth. The significant rent differentials within Istanbul together with the economic slowdown will force some office occupiers to relocate to new, emerging locations on the Asian side. Within the core CBD area,...
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A STUDY ON THE PERFORMANCE OF MALAYSIAN REAL ESTATE INVESTMENT TRUSTS FROM 2005-2010 BY USING NET ASSET VALUE APPROACH
In the longer run, the service sector is expected to continue ex- panding faster than the overall economy, i.e. the share of the service sector in overall employment will increase. Our baseline scenario for regional office employment does not forecast any big shifts in the regional distribution of the industries. Based on population size and the concentration of services, Istanbul is and will remain by far the largest office market in the country, with the market’s importance as a gateway between Europe and Asia continuing to increase. Still, a rapid increase in office employment is anticipated throughout the country at rates...
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Real Estate Development: Investment Risks And Rewards
We expect the overall trend of declining household size to persist. This is supported by an analysis of a panel of 38 countries over time: by the year 2027 on average 3.8 people will live in a Turkish household – still significantly more than in west European house- holds today. Furthermore, we have assumed a slowdown in migration as push and pull factors for moving are weakening. This stems from the likely narrowing of relative income differentials between regions and dis- economies of agglomeration like rising cost of living and mounting traffic problems that can not be solved quickly enough through infra- structure...
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ATRIUM REAL ESTATE INVESTMENT TRUST CONDENSED STATEMENT OF FINANCIAL POSITION
There is a global trend of falling household sizes over time, though an international comparison quickly reveals that this reduction is not uniform across countries. Apart from tradition, economic variables are influential in determining how many people live together in one household. We have tried to capture this relationship with a pooled cross-section of 38 countries and data for different years between 1960 and 2006. The dependent variable is the average household size. As explanatory variables we have used the fertility rate, the urbanisation rate and real per capita GDP (constant 2000 USD). A fixed effects approach was used to...
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REAL ESTATE INVESTMENT PLANS
According to the most recent building census of 2000, there was no overall shortage of housing in Turkey, given that there was a total of 16.2 million housing units and 15.1 million households. 22 The regional differences in the ratio of housing units available to house- holds are stunning. In Istanbul 33% more housing units than house- holds were counted, in Izmir the excess was 24% and in Ankara 10%, whereas in some of the northern provinces some 30% to 40% more households than dwelling units are reported. For several reasons this does not mean that residential markets even in regions with...
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SỰ HÌNH THÀNH VÀ PHÁT TRIỂN THỊ TRƯỜNG BẤT ĐỘNG SẢN Ở VIỆT NAM
“Thực hiện một nền kinh tế quốc dân chủ yếu có hai thành phần: thành phần kinh tế quốc doanh thuộc sở hữu toàn dân và thành phần kinh tế hợp tác xã thuộc sở hữu tập thể” (Điều 18 theo Hiến Pháp sửa đổi 1980). Về đất đai nhà ở có quy định cụ thể: “Nhà nước bảo hộ quyền sở hữu của công dân về thu thập hợp pháp, của cải để dành, nhà ở, tư liệu sinh hoạt … Pháp luật bảo hộ quyền thừa kế tài sản của công dân” (điều 27 theo Hiến Pháp sửa...
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ĐỊNH GIÁ VỀ CÁC LOẠI ĐẤT
Đất trồng cây hàng năm + Khung giá đất trồng cây lâu năm + Khung giá đất rừng sản xuất + Khung giá đất nuôi trồng thủy sản + Khung giá đất làm muối + Khung giá đất ở nông thôn + Khung giá đất ở đô thị + Khung giá đất sản xuất kinh doanh phi nông nghiệp ở nông thôn + Khung giá đất sản xuất kinh doanh phi nông nghiệp ở đô thị II. Định giá các loại đất cụ thể theo khung giá của Chính phủ 1. Một số công việc liên quan, phải tiến hành...
8/30/2018 1:40:30 AM +00:00
Phân tích kỹ thuật trong đầu tư chứng khoán
Tham khảo sách 'phân tích kỹ thuật trong đầu tư chứng khoán', tài chính - ngân hàng, đầu tư bất động sản phục vụ nhu cầu học tập, nghiên cứu và làm việc hiệu quả
8/30/2018 1:40:30 AM +00:00
Thẩm định giái bất động sản
Tham khảo bài thuyết trình 'thẩm định giái bất động sản', tài chính - ngân hàng, đầu tư bất động sản phục vụ nhu cầu học tập, nghiên cứu và làm việc hiệu quả
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CÁC THUẬT NGỮ BẤT ĐỘNG SẢN
Adjustable rate mortgage – ARM: thế chấp với lãi suất linh động Một loại thế chấp mà mức lãi thay đổi theo định kỳ, theo sự lên xuống của một chỉ số. Tất cả các thế chấp lãi suất linh động đều bị chi phối, ràng buộc vào những chỉ số. Adjustment date: ngày điều chỉnh Ngày mà mức lãi suất của một khế ước thế chấp lãi suất linh động được sẽ thay đổi. Một biểu (bảng kê) cho thấy mỗi lần trả nợ bao nhiêu sẽ đi vào gốc và bao nhiêu sẽ đi vào lãi trong suốt thời gian vay. Biểu...
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