Este artigo tem como objetivo analisar as mudanças nas dinâmicas residenciais e comerciais de um bairro da Zona Sul de Belo Horizonte. Utilizando o cadastro do Imposto sobre a Propriedade Predial e ...Territorial Urbana e o cadastro do Imposto sobre a Transmissão de Bens Imóveis, foi possível, não apenas identificar e mapear os novos imóveis residenciais e comerciais construídos no bairro na última década, mas esboçar o perfil de seus novos moradores e consumidores. Leva-se em conta o conceito de gentrificação enquanto um processo de substituição de uma classe social com status inferior por outra com status superior, para examinar os resultados encontrados. Os dados apontam para um processo de mudança física, marcada pela maior oferta de edifícios com alto padrão de acabamento e alto valor, voltados para um grupo social com status superior ao dos antigos moradores. Tais mudanças têm como principal ator o mercado imobiliário.
As the world-wide massive expansion in the number of higher education students has occurred, they are considered as an important driver of urban change. Off-campus student accommodation in the form ...of shared rental housing has become increasingly significant all over the world, with studies suggesting that this is having important consequences for housing markets in the many cities. As a result, there is a growing need for research showing the behaviour and motivation of this group of tenants. The COVID-19 pandemic and implemented restrictions provided a unique opportunity to explore the behaviour of young tenants in an unusual situation. By survey conducted in such inimitable conditions, new general knowledge has been gained. To highlight a key result, it was found that students are a large and extremely flexible group of tenants who demonstrate no reluctance to terminate a tenancy agreement and return quickly to the family home. The empirical results show that they displayed no attachment to the rented flat, full reluctance to pay for the reservation of a place and good knowledge of the market situation, leading to the negotiation of lower prices and more favourable rental conditions. However, their motivation to stay and continue to rent included uncomfortable study conditions at the family home, a romantic relationship with a partner, a job in the city and strong existing social bonds. The results reported in this study can be useful for global investors on the rental real estate market.
•The COVID-19 pandemic has had an impact on the urban housing rental markets•Students have proved to be extremely adaptable tenants•Students appeared to be highly flexible tenants, thus renting for such a narrow group can be a very risky business
Increased life expectancy in recent years, together with the downward trend in fertility rates, will accelerate the aging of the Latin American population (Flamini and et al., 2018) 1. This ...demographic change represents a problem for pension systems as the economic capacity to finance the retirement of the population could be insufficient in the future. This creates a favorable scenario for new financial products, including reverse mortgages. This study determines, from the supply approach, the potential of reverse mortgages in the main cities of Colombia as a complement to the financing of old age according to the guidelines of Benavides et al. (Benavides Franco et al., Jan. 2021) 2.
The following variables were used: housing prices, interest rates, mortality rates, and the consumer price index. The econometric testing simulates the possible paths of these variables, estimates the probability of occurrence of the paths, and calculates the expected losses of bidding banks.
The results show that reverse mortgages are a good complement to Colombia's pension system and confirm the feasibility of implementation at city level. It is recommended that the State stimulate the growth of this market and improve the corresponding regulatory framework.
This study confirms the hypothesis that the reverse mortgages are a good complement to the pension system with city-level data. Specifically, it uses housing prices and mortality records from the main cities of the country (Bogotá, Cali, and Medellín) to capture their idiosyncrasies.
Purpose
This paper aims to analyse globalisation, localisation and glocalisation on the real estate market and define the characteristic features of a glocal real estate market (GREM). The GREM ...involves real estate properties and real estate products, as well as linking the local and global dimensions of real estate market. Further aims of the study were to provide a methodology for developing the glocal real estate market index (GREMI), and compare selected European markets by analysing their glocalisation potential.
Design/methodology/approach
A novel method of identifying and assessing the GREM was prepared in the work. The methodology provides tools for calculating the GREMI. This is an index based on a few dozen variables from various thematic scopes, describing the glocalisation potential of a selected market, calibrated to a range <0, 1>. GREMI values were calculated for 12 countries, which accessed European Union (EU) in 2004. The sample covers period from 2004 to 2017.
Findings
The study shows that the GREMI continues to increase in all countries over time and the results are becoming synchronised. Romania is a country with the highest number of minimum GREMI values in all years (2004–2017). The highest values of the GREMI were determined in Estonia over the period of nine years (2004–2006, 2008 and 2013–2017).
Research limitations/implications
The prepared index may be applied to analyse different real estate markets, though the necessity to select an identical set of variables for analysis to allow for comparing between markets is a limitation for applying the method. The actual selection of variables is also a study limitation, which was of an opening nature to research in this scope and may be disputable.
Originality/value
This paper provides the original methodology of the GREMI index for countries joining the EU from 2004 onwards.
This paper investigates the effect of eco-labeling on rental rates, sale prices and occupancy rates. The consensus emerging from previous studies appears to be that investors in and occupiers of ...eco-labeled buildings obtain a bundle of benefits related to lower operating costs, reputation benefits and productivity higher. In this study, a hedonic model is used to test whether the presence of an eco-label has a significantly positive effect on rental rates, sale prices and occupancy rates of commercial office buildings in the US. The results suggest that office buildings with Energy Star or LEED eco-labels obtain rental premia of approximately 3–5%. Dual certification produces an additive effect with rental premia estimated at 9%. Respective sale price premia for Energy Star and LEED labeled office buildings are 18% and 25%. The sale price premium for dual certification is estimated at 28–29%. An occupancy premium could not be confirmed for LEED labeled office buildings and only a small positive occupancy premium was found for Energy Star.
► Eco-labeling premiums are tested in rents, prices & occupancy of US office buildings. ► Energy Star or LEED commands a 3–5% rental premium, 9% for dual certified buildings. ► Sale price premium is 18% and 25% for Energy Star and LEED, 28–29% for dual certified. ► No occupancy premium for LEED buildings but a small positive effect for Energy Star.
Railway stations function as nodes in transport networks and places in an urban environment. They have accessibility and environmental impacts, which contribute to property value. The literature on ...the effects of railway stations on property value is mixed in its finding in respect to the impact magnitude and direction, ranging from a negative to an insignificant or a positive impact. This paper attempts to explain the variation in the findings by meta-analytical procedures. Generally the variations are attributed to the nature of data, particular spatial characteristics, temporal effects and methodology. Railway station proximity is addressed from two spatial considerations: a local station effect measuring the effect for properties with in 1/4 mile range and a global station effect measuring the effect of coming 250 m closer to the station. We find that the effect of railway stations on commercial property value mainly takes place at short distances. Commercial properties within 1/4 mile rang are 12.2% more expensive than residential properties. Where the price gap between the railway station zone and the rest is about 4.2% for the average residence, it is about 16.4% for the average commercial property. At longer distances the effect on residential property values dominate. We find that for every 250 m a residence is located closer to a station its price is 2.3% higher than commercial properties. Commuter railway stations have a consistently higher positive impact on the property value compared to light and heavy railway/Metro stations. The inclusion of other accessibility variables (such as highways) in the models reduces the level of reported railway station impact. PUBLICATION ABSTRACT
As we know, there is a dramatic lack of social housing in the Brussels Region. While the VAT system undoubtedly benefits the public production of social housing (by granting a reduced rate of 6 %), ...it does not help private operators or associations which also have the vocation to provide housing at a modest price (without going through a social housing agency). Moreover, this differentiated VAT system violates two fundamental legal principles: equal treatment and tax neutrality (according to which two similar operations in terms of their results must be subject to a similar tax regime). It is therefore time to change this tax measure. But what can the Brussels Region do when this tax falls within the remit of the federal government? There are at least two things it can do: include the private construction of social housing in the category of "social housing corporation" (which already benefits from the reduced VAT rate) or, failing that, grant a subsidy to the former activity in order to compensate for the difference between the standard VAT rate (which will be applied) and the reduced rate. All of this, of course, would be subject to social conditions, such as selling a certain proportion of the housing produced to a social housing corporation and making the sale (or rental) of the remainder subject to certain social conditions. By involving the private sector in this way, it could be possible to shorten the very long waiting list for social housing.
As we know, there is a dramatic lack of social housing in the Brussels Region. While the VAT system undoubtedly benefits the public production of social housing (by granting a reduced rate of 6 %), ...it does not help private operators or associations which also have the vocation to provide housing at a modest price (without going through a social housing agency). Moreover, this differentiated VAT system violates two fundamental legal principles: equal treatment and tax neutrality (according to which two similar operations in terms of their results must be subject to a similar tax regime). It is therefore time to change this tax measure. But what can the Brussels Region do when this tax falls within the remit of the federal government? There are at least two things it can do: include the private construction of social housing in the category of “social housing corporation” (which already benefits from the reduced VAT rate) or, failing that, grant a subsidy to the former activity in order to compensate for the difference between the standard VAT rate (which will be applied) and the reduced rate. All of this, of course, would be subject to social conditions, such as selling a certain proportion of the housing produced to a social housing corporation and making the sale (or rental) of the remainder subject to certain social conditions. By involving the private sector in this way, it could be possible to shorten the very long waiting list for social housing.
La Région bruxelloise manque dramatiquement de logements sociaux, on le sait. Si le régime de la TVA avantage incontestablement la production publique des logements sociaux (par l’octroi d’un taux ...réduit : 6 %), il n’aide en rien les opérateurs privés ni les associations qui, pareillement, ont pour vocation de mettre à disposition des logements à un tarif modeste (sans passer par une agence immobilière sociale). En plus, ce système différencié de TVA heurte deux principes juridiques fondamentaux : l’égalité de traitement et la neutralité fiscale (suivant lequel deux opérations semblables quant à leurs résultats doivent connaître un régime fiscal lui-même semblable). Il est temps dès lors de changer ce logiciel fiscal. Mais que peut bien faire la Région bruxelloise dès lors que cet impôt relève des compétences de l’autorité fédérale ? Deux choses au moins : englober dans la catégorie de « société de logement » (qui bénéficie déjà du taux de TVA réduit) la construction privée de logements à caractère social ou, à défaut, accorder à cette dernière activité un subside qui compenserait la différence entre le taux standard de TVA (qui sera appliqué) et le taux réduit. Le tout, naturellement, moyennant une série de contreparties sociales, comme vendre une certaine proportion des biens ainsi produits à une société de logement social et assujettir à certaines conditions sociales la vente (ou la location) du solde. En impliquant de la sorte le secteur privé, il sera permis d’espérer une résorption plus rapide de la très longue file d’attente des logements sociaux.
Het is geen geheim dat er in het Brussels Gewest een dramatisch tekort is aan sociale woningen. Hoewel het btw-stelsel de productie van sociale woningen door de overheid ontegenzeglijk bevoordeelt door het verlaagde tarief van 6 % toe te kennen, helpt het in geen geval de privéactoren en organisaties die evenzeer woningen ter beschikking willen stellen tegen een lage prijs (zonder daarom met een sociaal verhuurkantoor te moeten samenwerken). Bovendien druist dit systeem van een gedifferentieerd btw-tarief in tegen twee juridische basisbeginselen, namelijk gelijkheid van behandeling en fiscale neutraliteit (volgens hetwelk twee qua resultaten soortgelijke transacties een soortgelijk fiscaal regime moeten kennen). Het is dan ook tijd om deze fiscale koers te wijzigen. Maar wat kan het Brussels Gewest dan doen, aangezien btw valt onder de bevoegdheden van de federale overheid? Op zijn minst twee dingen: de private bouw van sociale woningen opnemen in de categorie van “huisvestingsmaatschappij” (die al geniet van het verlaagde btw-tarief) of anders voor de private bouw van sociale woningen een subsidie toekennen die het verschil tussen het standaard btw-tarief (dat zal worden toegepast) en het verlaagde btw-tarief compenseert. Dit alles uiteraard door middel van een aantal sociale compenserende maatregelen, zoals een deel van de geproduceerde woningen verkopen aan een sociale huisvestingsmaatschappij en de verkoop (of verhuur) van de overige woningen aan bepaalde sociale voorwaarden onderwerpen. Door de privésector op die manier te betrekken, kunnen we misschien hopen dat de ellenlange wachtlijsten voor sociale woningen sneller zullen inkrimpen.
As we know, there is a dramatic lack of social housing in the Brussels Region. While the VAT system undoubtedly benefits the public production of social housing (by granting a reduced rate of 6 %), it does not help private operators or associations which also have the vocation to provide housing at a modest price (without going through a social housing agency). Moreover, this differentiated VAT system violates two fundamental legal principles: equal treatment and tax neutrality (according to which two similar operations in terms of their results must be subject to a similar tax regime). It is therefore time to change this tax measure. But what can the Brussels Region do when this tax falls within the remit of the federal government? There are at least two things it can do: include the private construction of social housing in the category of “social housing corporation” (which already benefits from the reduced VAT rate) or, failing that, grant a subsidy to the former activity in order to compensate for the difference between the standard VAT rate (which will be applied) and the reduced rate. All of this, of course, would be subject to social conditions, such as selling a certain proportion of the housing produced to a social housing corporation and making the sale (or rental) of the remainder subject to certain social conditions. By involving the private sector in this way, it could be possible to shorten the very long waiting list for social housing.
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