De svenska finansinstituten tar del av värderingsunderlag när det gäller kommersiella fastigheter i samband med kreditgivning. En viss grad av osäkerhet föreligger alltid vid fastighetsvärdering, och så även vid utlåning. Bankerna använder vissa metoder och verktyg för att minska detta. Syftet med studien var att undersöka hur svenska banker hanterar den osäkerhet som uppstår vid värdering av kommersiella fastigheter samt ta reda på vem som påverkas om felaktiga värderingar ligger till grund för kreditgivning till fastighetsbolag där de kommersiella fastigheterna står som säkerhet. I teorin redogörs teoretisk bakgrund för syftet samt övergripande fakta för en djupare förståelse. Kapitlet innehåller en sammanfattning av olika värderingsmetoder, värdebegrepp samt hur osäkerheter kan uppstå i samband med fastighetsvärdering. Vår undersökning består av en kvalitativ metod där vi har intervjuat fem stycken personer som arbetar och har lång erfarenhet inom banksektorn. Respondenterna har noga valts ut med tanke på deras erfarenhet inom värdering, osäkerhet och kreditgivning rörande den svenska kommersiella fastighetsmarknaden. Respondenterna representerar olika banker och är alla verksamma i Värmlands län. Resultatet visar att bankerna har olika verktyg för att förebygga att utlåningen blir för stor. Exempelvis att minska osäkerheten genom en kombination av flera värderingsmetoder och en lägre andel utlåning av marknadsvärdet. Slutsatsen vi kan konstatera är sammanfattningsvis att de som påverkas om felaktiga värderingar på kommersiella fastigheter ligger till grund för kreditgivning till fastighetsföretag i slutändan är företagen, och inte bankerna. / The Swedish banks takes part in valuation data when it comes to commercial properties in connection with lending money. There's always some uncertainty when it comes to real estate valuation, and therefore also with lending. The banks use some methods and tools to decrease this uncertainty. The purpose of the study was to investigate how the banks in Sweden handle the uncertainty that arises when valuing commercial properties and to find out who is affected if incorrect valuations are the basis for lending money to real estate companies where the commercial properties stand as collateral. The theory describes the theoretical background for the purpose and some overall fact for a deeper understanding. The chapter contains a summary of different valuation methods, value concepts and how uncertainty may appear in conjunctions with real estate valuation.   Our study consists of a qualitative method where we have interviewed five people who work and have extensive experience within the banking sector. Our respondents have been carefully selected considering their knowledge in valuation, uncertainty and lending money regarding  the Swedish commercial real estate market. Our respondents represent different banks and are all active in Värmlands county. The result shows that the banks have different tools to prevent the lending from being unrealistic. For example, reducing uncertainty through a combination of several valuation methods and a lower proportion of lending compared to the market value. In conclusion we can say that those who are affected if incorrect valuations of commercial properties are the basis for lending money to real estate companies are ultimately the companies, and not the banks.

Kommersiella fastigheter har länge setts som en realvärde säker tillgång för placeringar men det är också en bransch som har skakats om av flera finans- och fastighetskriser. Eftersom fastighetsbranschen är en kapitalintensiv bransch och upptar en stor del av bankernas omslutning påverkar sektorerna varandra i hög grad och en kris i den ena sektorn spiller lätt över på den andra. Under de två senaste åren har coronapandemin drabbat världen och människors rörelsemönster och sociala kontakter har begränsats. Pandemin har uppenbarligen haft negativa konsekvenser på människors liv och hälsa men även delvis på den ekonomiska utvecklingen. Syftet med denna uppsats är att undersöka coronapandemins effekter på kommersiella fastighetsbolag samt utreda likheter och skillnader från finanskrisen 2008. För att möjliggöra detta undersöks vidare relationen mellan banker och fastighetsbolag och båda sektorernas perspektiv lyfts in för att svara på arbetets frågeställningar. Undersökningen baseras på intervjuer med 6 representanter från banker och 8 respondenter från kommersiella fastighetsbolag. Dessa intervjuer visar att coronapandemin inte har haft en större påverkan på de kommersiella fastighetsbolagen och således inte heller på bankerna. Pandemin har snarare accelererat vissa trender som fastighetsbranschen redan var på väg emot och pandemin kan inte ses som en finansiell kris. Vidare framkom inga direkta likheter med finanskrisen 2008, skillnader finns det däremot gott om, finanskrisen ledde till kapitalförluster för bankerna och fastighetsbolagen saknade likviditet. / Commercial properties have long been seen as a real value secure asset for investments, but it is also an industry that has been shaken by several financial- and real estate crises. As the real estate industry is a capital- intensive industry and takes up a large part of the banks' balance sheets, the sectors are highly interdependent and a crisis in one sector easily spills over to the other. Over the past two years, the corona pandemic has affected the world and peoples movement patterns and social contact have been restricted. The pandemic has clearly had a negative impact on human lives and health, but also partly on economic development. The purpose of this paper is to examine the effects of the corona pandemic on commercial real estate companies and to investigate similarities and differences from the 2008 financial crisis. To enable this, the relationship between banks and real estate companies is further investigated and both sector’s perspectives are highlighted to answer the research question. The survey is based on interviews with 6 representatives from banks and 8 representatives från real estate companies. These interviews express that the corona pandemic has not had a major impact on commercial real estate and thus on banks. Rather, the pandemic has accelerated certain trends that the real estate industry was already facing and the pandemic can not be seen as a financial crisis. Furthermore, there were no direct similarities with the 2008 financial crisis, but there are plenty of differences: the financial crisis led to capital losses for the banks and a lack of liquidity for the real estate companies.

Titel: Business strategies for retail and office properties,  A qualitative study of business strategies from a real estate company perspective.  Subject: Bachelor’s thesis in business administration specialization business management 7,5 credits and corporate finance and property valuation 7,5 credits Author: Alice Möller & Diana Morales Keywords: Business strategies, commercial properties, retail properties, office properties  Problem statement: How does the market look like for retail and office properties? How are business strategies implemented for retail and office properties and how are uncertainties taken into account? What factors influence the strategy decision regarding commercial real estate?  Purpose: The purpose of the study is to describe how property owners business strategies are adapted and executed and how uncertainty in the retail and office properties is taken into account. Then it’s investigated which factors may have an impact on decisions and what the market looks like for retail and office properties in medium-sized cities.  Method: A qualitative investigation was conducted to get answers to the study’s questions. With the help of semi-structured interviews, the respondents have provided exhaustive information regarding business strategies for commercial properties in uncertain situations.  Conclusion: The results of this study show that the market for retail and office properties is doing better than expected. The study shows that the factors that affect the strategy decisions are mainly the market and the outside world. Uncertainties are taken into account by having close communications with tenants but also by being flexible, adaptable to different situations and managing the property portfolio. The business strategies that are mainly used are innovation, communication and having a diversified property portfolio. Despite the fact that real estate companies either have an established or an unspoken business strategy, the companies work with several different strategies. / Titel:  Affärsstrategier för butik-och kontorsfastigheter,  En kvalitativ studie om affärsstrategier utifrån fastighetsbolags perspektiv Ämne: Kandidatuppsats i företagsekonomi inriktning verksamhetsstyrning 7,5 hp samt företagsfinansiering och fastighetsvärdering 7,5 hp  Författare: Alice Möller & Diana Morales Nyckelord: Affärsstrategier, kommersiella fastigheter, butiksfastigheter, kontorsfastigheter Problemformulering: Hur ser marknaden ut för butik-och kontorsfastigheter? Hur genomförs affärsstrategier för butik - samt kontorsfastigheter och hur beaktas osäkerheter? Vilka faktorer påverkar strategibeslutet avseende kommersiella fastigheter?  Syfte: Studiens syfte är att beskriva hur fastighetsägares affärsstrategier anpassas och utförs samt hur osäkerheten för butik- och kontorsfastigheter tas i beaktande. Därefter utreds det vilka faktorer som kan ha en inverkan på beslut samt hur marknaden ser ut för butik-och kontorsfastigheter i större städer.  Metod: En kvalitativ undersökning utfördes för att få svar på studiens frågeställningar. Med hjälp av semistrukturerade intervjuer har intervjurespondent tilldelats uttömmande information avseende affärsstrategier för kommersiella fastigheter vid osäkra situationer.  Slutsats: Resultatet för denna studie visar på att marknaden för butik-och kontorsfastigheter går bättre än förväntat. Studien påvisar att de faktorer som påverkar strategibeslut främst är marknaden samt omvärlden. Osäkerheter beaktas genom att ha en nära kommunikation med hyresgäster men även genom att vara flexibel, anpassningsbar för olika situationer samt hantera fastighetsbeståndet. Affärsstrategierna som främst används är innovation, kommunikation och att ha ett diversifierat fastighetsbestånd. Trots att fastighetsföretagen antingen har en fastställd eller en ej uttalad affärsstrategi arbetar företagen med flera olika strategier.

Social sustainability is one of the three foundations in the definition of sustainable development. Despite this, there is no common overarching definition of social sustainability. Climate and environmental issues are defined and complemented by global and national agreements. The lack of a common definition of social sustainability is a result of the susceptibility of the experience of social sustainability to the local context and subjective assessments.This study focuses on commercial property companies in Sweden and their strategic work with social sustainability as an integrated part of the business. Existing research indicates that tools for strategic assessment of social sustainability are required. The purpose of this study is to develop a social sustainability framework intended to help property developers and owners to assess and manage social sustainability aspects in a systematic way. By using the framework, the intention is to increase properties social and economic value, as well as the financing opportunities for property companies.The framework is developed through an iterative process inspired by a multi-methodological approach for system development. By analysing two existing sustainability evaluation methods in combination with existing research within the field, 63 aspects for social sustainability are identified and applied into this framework. The identified aspects are divided into five categories (health and well-being, safety and security, climate and ecology, dialogue and relation and flexibility, mobility, and equality). The developed framework is applied on two existing, commercial properties located in northern Sweden. To conclude, the framework can be a strategic instrument for socially sustainable property management and development in this specific region. Further development is suggested. / <p>2023-06-13</p>

Title: Integration of Sustainability Factors in Property Valuation - A Qualitative Study on the Impact of Sustainability Factors on the Valuation Process of Commercial Properties in Sweden   Subject: Bachelor's Thesis in Business Administration, 15 Credits   Authors: Sebastian Åkerlund &amp; Wilmer Grunditz   Supervisor: Peter Palm Research Questions: How are sustainability factors managed in the process of valuing a commercial property? How do sustainability aspects impact risk assessment in property valuation?   Purpose: The study aims to investigate how sustainability aspects are managed in the valuation process of a commercial property. It also seeks to explore how sustainability aspects influence the risk assessment of a property during valuation. The study intends to collect empirical data from expert actors within the Swedish property valuation industry. This includes external consultants from independent entities, internal appraisers, and appraisers from credit institutions.   Method: The study was conducted using a qualitative research approach and involved semi-structured interviews with property valuers from various segments and geographical areas in Sweden.   Conclusion: The conclusion is that property valuers handle sustainability factors differently due to the lack of an industry standard. Furthermore, sustainability aspects impact risk assessment differently due to the nature of property valuation and the lack of transparency in the commercial property market. It is evident that the valuation industry is undergoing significant changes with sustainability integration.   Keywords: Property Valuation, Sustainability, Risk Assessment, Commercial Properties, Sustainability Integration

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Many countries would like to use foreign direct investment to increase the growth of GDP and promote stable development. The Czech Republic is one of the countries having the largest FDI within Central and Eastern Europe. Meanwhile, Chinese investments have increased significantly and already became an important feature of the China-Europe relationships during recent years. The closer cooperation between China and Europe could encourage FDI. Within the kinds of FDI, the real estate industries experienced a rapid increase in many developed and emerging regions. Therefore, the aim of this study is aiming to analyse the investment environment of Chinese commercial properties in the Czech Republic. Two basic research designs will be employed for this research. The first design is focusing on collected recent available data to present the investment climate of the Czech Republic. In this part, we also make comparisons of the Czech Republic with serval economies. We found that the relatively low cost of labour, low inflation rate, easier to set-up a business (in terms of both times consuming and cash consuming) make the Czech Republic becomes more attractive. And this is consistent with the empirical analysis. Secondly, the questionnaire method was used for the study and we get back 108 questionnaires....

Mitt syfte med projektet är att vitalisera stadsdelen Husby i nordvästra Stockholm. Bryta upp zonerade områden och addera fler och varierade funktioner som definierar nya stråk, länka samman omtyckta områden och överbrygga platser som upplevs otrygga. Sammantaget ger det förutsättningar för ett mer levande stadsliv som attraherar fler att vilja bo, bo kvar och göra bostadskarriär i Husby. Centrala begrepp i projektet är mångfald, trygghet, flexibilitet och hållbarhet. Jag har arbetat med att identifiera, bevara och utveckla kvaliteter i kombination med att öppna upp befintlig bebyggelse som präglas av upprepning, slutenhet och rationella byggmetoder samt addera ny bebyggelse för att få en större mångfald och ett mer flexibelt utbud av både lokaler, bokaler och bostäder men även genom att analysera och bearbeta områdets struktur. Fokus har legat på de trafikseparerade miljöerna och hur de kan vidareutvecklas genom att bland annat addera gångvägar och skapa nya stråk längst tillfartsgatorna och samtidigt bevara kvaliteter som de nivåseparerade korsningarna mellan gångvägarna och bilvägarna erbjuder med säker skolväg och en trygg bilfri miljö för barnen. / My purpose of this project is to revitalize the District of Husby in northwestern Stockholm. Diversify zoned areas by adding and varying functions that define new pathways, link popular areas and overcome sites experienced as insecure. Overall, it may provide the conditions for a more vibrant city life attracting more people to stay on and climb the property ladder in Husby. The key concepts of the project is diversity, security, flexibility and sustainability. I have been working on preserving and developing qualities of the area in order to change existing buildings characterised by repetition, closed facades, rational building design and construction methods to obtain a greater diversity and a more flexible range of both business premises, housing and live-in commercial properties and also by analysing and transforming the city structure. Focus has been on the traffic separation environment and how it could be further developed by adding walkways along the access roads while still preserving qualities such as a car free environment for the children living in the area.