Made available in DSpace on 2015-03-13T17:10:49Z (GMT). No. of bitstreams: 1 EduardoAN_DISSERT.pdf: 2718531 bytes, checksum: 6137788e32741185e06f48395855f620 (MD5) Previous issue date: 2013-02-28 / Conselho Nacional de Desenvolvimento Cient?fico e Tecnol?gico / The housing market in Mossor? Rio Grande do Norte (RN) - Brazil have expanded at present moment, causing important changes in the economy and altering the configuration of urban space in the city. However, the effects of this process adversely affect the poor population of the city, creating a series of social problems. This process becomes still more contradictory with the presence of the Programa Minha Casa Minha Vida Program My House My Life (PMCMV). Although this program has to a central purpose (at least in theory) of solve part of the problem of housing scarcity in the country, in the practice its closely links to the logic of capital, stimulates the housing market, cooperating to increased speculation, contributing thus for the more expensive valor of urban land and buildings, putting up as an impediment to the poor population to access to homeownership and decent housing. In this perspective, this paper investigates the nature of the current process of expanding of housing market, animated largely by funds from the PMCMV, and its implications on the social and spatial dynamics of Mossor?, focusing especially the deepening of urban crisis and the contradictions of urban space in this city / O mercado imobili?rio residencial em Mossor? se expande no presente momento gerando transforma??es importantes no ?mbito da economia e alterando sobremaneira a configura??o do espa?o urbano do munic?pio. No entanto, os efeitos desse processo incidem negativamente sobre parte da popula??o pobre da cidade, gerando e agravando uma s?rie de problemas sociais. Esse processo torna-se ainda mais contradit?rio com a presen?a do Programa Minha Casa Minha Vida (PMCMV). Embora esse Programa tenha por finalidade central (pelo menos em tese) resolver parte do problema da escassez da habita??o no pa?s, sua implementa??o, intimamente vinculada ? l?gica do capital, estimula o mercado de im?veis, cooperando para o aumento da especula??o imobili?ria, contribuindo, assim, para o encarecimento do solo urbano e dos im?veis, colocando-se como impedimento para a aquisi??o da casa pr?pria e da moradia digna, por parte da popula??o carente local. Nessa perspectiva, o presente trabalho busca investigar, a natureza do atual processo de expans?o do mercado imobili?rio, animado em larga medida pelos recursos oriundos do PMCMV, e suas implica??es sobre a din?mica socioespacial de Mossor?, frisando, sobretudo, o aprofundamento da crise urbana e das contradi??es no e do espa?o urbano desse munic?pio

Made available in DSpace on 2015-12-03T18:33:09Z (GMT). No. of bitstreams: 1 Luciana_Maia_Campos_Machado.pdf: 1574359 bytes, checksum: cabec8c037b6327cf603054ec242e15d (MD5) Previous issue date: 2014-06-24 / When compared to other Brazilian companies traded at BOVESPA, real estate listed companies, in the period 2005-2013, had a sharp drop in market value. In this period, the years of 2006 and 2007 were marked by particularly strong concentration of IPOs in the Brazilian market, and in the same way that other companies, real estate companies turned to the stock market in an unusual high frequency to finance their operations. Specifically in the real estate industry, a high percentage of companies went public in these two years: 60% of all companies in the sector. Studies on the annomalies due to IPOs usually address the undervaluation of the issuing companies, the concentrated emission at hot market times (Market Timing) and the poor performance of stocks and operations of these companies in the long run. Thus, this work aimed to investigate whether there was a relationship between the poor performance of the real estate industry in the Brazilian market and the significant number of IPOs that companies of this sector performed. For this purpose, non-financial companies from all sectors traded at BOVESPA were studied, comparing the market value divided by total assets of the companies that went public in the period with companies that was already traded. Furthermore, the behavior of the same indicator for real estate developers was contrasted with other sectors. In order to isolate any other incident effects on the test variable, different panel data regressions were estimated, controlling for risk, size, profitability, growth, years and sectors. Empirical evidence suggests that the poor performance observed in the real estate developers would be linked to the unusually high incidence of IPOs in the sector in the period, not to any particularities of these companies, directing the results primarily to issues of Market Timing in the IPO market timing, not to any operational difficulties in the real statebusiness. / When compared to other Brazilian companies traded at BOVESPA, real estate listed companies, in the period 2005-2013, had a sharp drop in market value. In this period, the years of 2006 and 2007 were marked by particularly strong concentration of IPOs in the Brazilian market, and in the same way that other companies, real estate companies turned to the stock market in an unusual high frequency to finance their operations. Specifically in the real estate industry, a high percentage of companies went public in these two years: 60% of all companies in the sector. Studies on the annomalies due to IPOs usually address the undervaluation of the issuing companies, the concentrated emission at hot market times (Market Timing) and the poor performance of stocks and operations of these companies in the long run. Thus, this work aimed to investigate whether there was a relationship between the poor performance of the real estate industry in the Brazilian market and the significant number of IPOs that companies of this sector performed. For this purpose, non-financial companies from all sectors traded at BOVESPA were studied, comparing the market value divided by total assets of the companies that went public in the period with companies that was already traded. Furthermore, the behavior of the same indicator for real estate developers was contrasted with other sectors. In order to isolate any other incident effects on the test variable, different panel data regressions were estimated, controlling for risk, size, profitability, growth, years and sectors. Empirical evidence suggests that the poor performance observed in the real estate developers would be linked to the unusually high incidence of IPOs in the sector in the period, not to any particularities of these companies, directing the results primarily to issues of Market Timing in the IPO market timing, not to any operational difficulties in the real statebusiness. / Quando comparadas ??s demais empresas brasileiras de capital aberto negociadas na BOVESPA, as incorporadoras imobili??rias apresentaram, no per??odo de 2005 a 2013, acentuada queda no valor de mercado. Neste intervalo, os anos de 2006 e 2007 foram notadamente marcados por forte concentra????o de IPOs no mercado brasileiro, e da mesma forma que outras empresas, as incorporadoras imobili??rias recorreram com frequ??ncia pouco usual ao mercado acion??rio para financiamento de suas opera????es. Especificamente no setor de incorpora????o imobili??ria, um percentual elevado de empresas abriu capital nestes dois anos: 60% do total de empresas do setor listadas na BOVESPA. Estudos sobre anomalias decorrentes da abertura de capital costumam abordar a subavalia????o das empresas emissoras, a concentra????o das emiss??es em momentos de alta (Market Timing) e o fraco desempenho das a????es e opera????es destas empresas no longo prazo. Assim, esta disserta????o teve como objetivo principal investigar se houve rela????o entre o fraco desempenho do setor de incorpora????o imobili??ria no mercado acion??rio brasileiro com a expressiva quantidade de IPOs que as empresas que comp??em o setor realizaram. Com este objetivo, foram estudadas empresas n??o financeiras de todos os setores negociadas na BOVESPA, comparando-se o valor de mercado sobre ativo total das empresas que abriram capital no per??odo com o de empresas que j?? possu??am capital aberto. Ademais, verificou-se o comportamento do mesmo indicador para incorporadoras imobili??rias, contrastando-as com empresas de outros setores. Com a finalidade de isolar outros efeitos incidentes sobre a vari??vel de teste, diferentes regress??es com dados em painel foram estimadas, controlando-se risco, tamanho, rentabilidade, crescimento, anos e setores. Os resultados encontrados sugerem que, em m??dia, as empresas que recorreram ao mercado acion??rio, realizando IPOs entre 2005 e 2013, iniciaram o per??odo sobrevalorizadas, ou seja, com valor de mercado sobre ativo total superior ??s demais, sendo que esse valor teve forte decr??scimo nos anos seguintes. As evid??ncias emp??ricas sugerem que o fraco desempenho observado nas incorporadoras imobili??rias estaria ligado ?? anormalmente elevada incid??ncia de IPOs no setor no per??odo, e n??o a particularidades destas empresas, direcionando os resultados principalmente para quest??es de Market Timing nos IPOs, e n??o a eventuais dificuldades operacionais no ramo de atividade de incorpora????o imobili??ria.

Made available in DSpace on 2014-12-17T13:56:54Z (GMT). No. of bitstreams: 1 JosyannePG_TESE.pdf: 7779183 bytes, checksum: 77708178602e20b1afe971acf339e448 (MD5) Previous issue date: 2013-09-30 / The `Outorga Onerosa do Direito de Construir - OODC` (Public Concession of Building Rights), instrument instituted by The City Statute in 2001, has as main objective the recovery of urban property, seeking for a fair distribution the urbanization benefits. The possibility of usage of the OODC instrument is linked to the maximum utilization coefficient, determined to specific areas in accordance to existing infrastructure conditions, further taking into account the formal real estate market, expansion axis and crowding. Being an instrument which establishes values to be paid for a better use of land, it maintains a narrow relation to the real estate, incentivizing or discouraging the crowding in specific areas. The present study investigates the relationship between the criteria for the making of the Public Concession of Building Rights instrument and the dynamics of the formal real estate market. It takes as empiric universe Parnamirim (RN), part of the Natal Metropolitan Area (RN), focusing on the application of the OODC in the period of 2008-2010. It seeks to better understand the necessary basis for the formulation of the instrument, about how it works and its relation to the formal real estate market. It aims to depict the formal real estate market by presenting the production of urban space in Parnamirim in terms of intensity and nature of the real estate, furthermore identifying the licensed properties through the application of the municipality instrument. For the conclusion, it is discussed the criteria for the formation of OODC, its relationship to the dynamics of the formal real estate market and its influencing possibilities in the processes of usage and occupation of land in the context of urban planning / O instrumento Outorga Onerosa do Direito de Construir (OODC), institu?do pelo Estatuto da Cidade em 2001, tem como objetivo principal a recupera??o das mais-valias urbanas, buscando a justa distribui??o dos benef?cios da urbaniza??o. A possibilidade de utiliza??o do instrumento OODC ? vinculada aos coeficientes de aproveitamento m?ximo (CAM), definidos para determinadas zonas de acordo com as condi??es de infraestrutura existentes, considerando-se ainda a din?mica do mercado imobili?rio formal, eixos de expans?o e adensamento. Sendo um instrumento que estabelece os valores a serem pagos para um maior aproveitamento do solo, ele mant?m uma estrita rela??o com a din?mica do mercado imobili?rio formal, incentivando ou desestimulando o adensamento em ?reas espec?ficas. Este estudo investiga a rela??o entre os crit?rios de formula??o do instrumento Outorga Onerosa do Direito de Construir e a din?mica do mercado imobili?rio formal. Toma como universo emp?rico o munic?pio de Parnamirim (RN) integrante da Regi?o Metropolitana de Natal (RN), focalizando a aplica??o da OODC no per?odo 2008-2010. Busca ampliar o entendimento sobre a base necess?ria para a formula??o do instrumento, sobre seu funcionamento e sua rela??o com a din?mica do mercado imobili?rio formal. Visa caracterizar o mercado imobili?rio formal, apresentando a produ??o do espa?o urbano de Parnamirim, em termos de intensidade e tipologia dos empreendimentos, al?m de identificar os empreendimentos imobili?rios licenciados atrav?s da aplica??o do instrumento no munic?pio. Como conclus?o discute os crit?rios de formula??o da OODC, sua rela??o com a din?mica do mercado imobili?rio formal e suas possibilidades de indu??o dos processos de uso e ocupa??o do solo no contexto do planejamento urbano

Made available in DSpace on 2014-12-17T13:57:05Z (GMT). No. of bitstreams: 1 RodrigoCN_DISSERT_Parte 1.pdf: 2967594 bytes, checksum: ce42768f99a0d8a486d1fbac1a52af00 (MD5) Previous issue date: 2011-10-27 / This study focuses on the building ensemble of Avenida Roberto Freire, a main road in Natal, Brazil, as a material expression of the confluence of various factors among which the following may be emphasized: high level of accessibility due to urban spatial re-structuring and the growth of the real estate market, in view of the increasing number of consumers, who arrived in Natal within the last decades. The intense urban modification process that has been going on in Natal since at least the 1980s, has engendered the formation of long axial lines which express the expansion dynamics and some of the forces subjacent to it. Avenida Roberto Freire has been an iconic example of an urban thoroughfare where architecture becomes primarily a communication support that can be perceived by fast moving passers-by, what brings it close to the venturian concept of strip (Venturi at al, 1972). The building types that line the road not only respond to the dynamics in process but also contribute to intensify it, as they house a variety of uses which attract people and generate more movement. The dynamics is further strengthened by the action of the real estate business which benefits from the increase of highly accessible locations, and from the private and public investments and incentives to tourism that aim to insert this city into the globalized world. Although the intention of reconstituting part of the history of density increase on this avenue in a diachronical perspective was attempted within the limits of the available references and documentation, the central contribution of this study is to understand the relations between topological accessibility and the typological nature of the building ensemble. By observing the synchronic morphological frame resulting from the spatial configuration analysis pertinent to this avenue (cf. Hillier and Hanson,1984) and the inventory and classification of the building ensemble there existing, this study aims to understand how architecture responds to accessibility in view of the real estate pressure, boosted by a cosmopolitanizing process brought about by the continuous flow of foreign and Brazilian arrivals as visitors, temporary or permanent residents / Este estudo aborda o perfil edil?cio da avenida Engenheiro Roberto Freire, como express?o material da conflu?ncia de fatores dentre os quais se destacam o alto grau de acessibilidade como conseq??ncia da reestrutura??o espacial urbana, e a amplia??o do mercado imobili?rio em face da presen?a crescente de consumidores que t?m chegado a Natal nas ?ltimas d?cadas. O intenso processo de remodela??o urbana por que vem passando Natal desde, pelo menos, a d?cada de 1980 tem engendrado a forma??o de longos eixos vi?rios que expressam exemplarmente essa din?mica e algumas das for?as subjacentes a ela. A avenida tem sido um dos exemplos ic?nicos de eixos vi?rios nos quais a arquitetura torna-se, primordialmente, suporte de comunica??o capaz de ser percebida por passantes em r?pido movimento, aspecto que a faz aproximar-se do conceito venturiano de strip (Venturi et al, 1972). Os tipos edil?cios que ali abrigam usos diversificados n?o s? respondem ? din?mica em curso, mas tamb?m contribuem para intensific?-la e realiment?-la, na medida em que atraem pessoas e geram mais movimento. Some-se a isso a atua??o do setor imobili?rio que se beneficia com a amplia??o de localiza??es dotadas de alta acessibilidade, e com incentivos p?blicos e privados ao turismo, visando inserir a cidade no mundo globalizado. Embora se tenha tido a inten??o de reconstituir parte da hist?ria do adensamento da avenida em perspectiva diacr?nica, a contribui??o central desse estudo ? entender rela??es entre acessibilidade topol?gica e a natureza tipol?gica do acervo edil?cio. Mediante a leitura de um quadro morfol?gico sincr?nico resultante da an?lise da configura??o espacial que cont?m a avenida (cf. Hillier e Hanson, 1984), e do invent?rio e classifica??o do acervo edil?cio que l? est?, este estudo objetiva compreender como a arquitetura responde ? acessibilidade vis-?-vis o desenvolvimento do mercado imobili?rio, impulsionado por um processo de cosmopolitismo que tem ocorrido pela cont?nua chegada de visitantes e moradores tempor?rios ou permanentes, nacionais e estrangeiros

Made available in DSpace on 2014-12-17T13:57:13Z (GMT). No. of bitstreams: 1 MariaFPSS_ate_pag139.pdf: 2490005 bytes, checksum: b735b84d55bbfd8a2101c8aa52c1d6a6 (MD5) Previous issue date: 2004-09-28 / The present work analyzes the fast evolution of gated communities in Natal-RN?s urban space. Characterized by the occupation of large areas, providing private security and utilities, this kind of real estate use arises a long list of questions and issues from society and scholars, due to privatization of urban space, bending of law constraints and the lack of an integrated planning of the cities where they are built. The reasons for its fast growth in Brazil s urban areas are analyzed, considering the impact on formal urban planning and municipal services and on the identification of urbanistic, architectural pattern and constraints, as well as legal, social and economic issues. This study is based on the detailed analysis of the first three units of gated communities built in the urban space in Natal, between 1995 and 2003, including their evolution throughout time and the specific social and economic reasons for its present widespread adoption in Brazilian real estate market and, particulary, in our city. The main objective of this piece of work is to answer the why s and how s these phenomena evolved, setting a basis for the definition of adequate public policies and regulation of this kind of urban land use / Este trabalho analisa a r?pida evolu??o dos condom?nios residenciais horizontais na cidade do Natal, RN. Identificados como grandes transformadores do espa?o, os condom?nios horizontais normalmente utilizam glebas muito extensas e se constituem em conjuntos residenciais de baix?ssima densidade. Introduzem novos ideais de bem viver que incorporam elementos sofisticados de seguran?a e infra-estrutura privada. Este tipo de produ??o imobili?ria tem se proliferado e diversificado independentemente da longa lista de questionamentos e cr?ticas levantadas pela sociedade e estudiosos da mat?ria urbana quanto ? privatiza??o do espa?o, indiferen?a ?s leis existentes e fragmenta??o, ou n?o integra??o, ao planejamento e constru??o das cidades onde se implantam. As raz?es deste crescimento nas cidades brasileiras s?o analisadas considerando o impacto formal no espa?o urbano, na arquitetura e na infra-estrutura e servi?os p?blicos, buscando identificar padr?es e problemas, assim como, as quest?es legais, sociais e mercadol?gicas envolvidas. Este trabalho baseia-se em um estudo de caso dos tr?s primeiros grandes condom?nios constru?dos em Natal, entre 1995 e 2003, observando sua consolida??o atrav?s do tempo, a partir de entrevistas com os principais atores envolvidos no processo. O principal objetivo desta pesquisa ? discutir as causas e porqu?s da r?pida transforma??o e aceita??o desses empreendimentos como ideal de bem viver, que os tornaram um fen?meno no mercado imobili?rio brasileiro e em particular na nossa cidade

Made available in DSpace on 2014-12-17T13:57:24Z (GMT). No. of bitstreams: 1 PauloJLN.pdf: 499364 bytes, checksum: 912bbb090f0b08d3f438d55707e3f1e9 (MD5) Previous issue date: 2001-12-27 / Recent studies concerning the landscape have investigated the most important activities that contribute for its modification and have tried to better understand the society through the marks left by its quotidian. It is understood that singular landscapes constitute the cultural patrimonies of the cities, once they are part of the daily life of the citizens and are present in their social representations. Some contemporary authors defend the preservation of the natural and urban landscape trying, specially, to keep its importance for the local population. Natal is a city where the ambient qualities are well defined and known by the beauty of the area where it is located. Situated just between a river and the sea, the city grew following its geographic characteristics. The Potengi River, the Atlantic Ocean and the vast dunes ecosystem represented natural limits to the urban expansion; at the same time they have favored the development of a landscape pattern marked by the dialectic between the natural elements and the human interventions. However, this relationship changed after the intensification of the high rising development process that took place since the 1960s. The urban legislation tried to preserve the features of the local landscape delimiting Areas for Controlling Building High , destined to protect the scenic value of some parts of the city. On the other hand, the civil construction sector has made constant pressure in sense to abolish or to modify this legal instrument, aiming profits that have increased, in the 1990s, because of the consumption and the qualification of the urban space for tourist activities. It is necessary the raising of new elements to stimulate the quarrel about the landscape preservation, the process of the urban space production and the best way for the legislation implementation. This work tries to raise elements about the subject at local level, in sense to use Natal City experience to contribute for the formulation of indicators to raise the question about the lack of measure for subjective values, for example the cultural and affective value of the landscape. The natural elements inserted in the urban profile, represent strong visual references and supply identity to the town; they are part of the collective imaginary and are detached in the social context of the city. Then, why the preservation of the landscape, that estimates the improvement in the quality of life, is not enough to justify the controlling building high already previewed as part of Natal City Legislation? These questions send us to the approach of the landscape, as a community patrimony, alerting that some of its significant esthetics attributes must be preserved as a legacy for the future generations / Estudos recentes acerca da paisagem investigam as atividades impactantes que contribuem para a sua modifica??o e buscam melhor compreender a sociedade atrav?s das marcas do cotidiano nela impressas. Entende-se que paisagens singulares se constituem em patrim?nios culturais das cidades, na medida em que fazem parte do cotidiano dos cidad?os e est?o presentes nas representa??es sociais. Alguns autores contempor?neos defendem a preserva??o da paisagem natural e urbana buscando, acima de tudo, sua import?ncia para os habitantes do lugar. Natal ? uma cidade com qualidades ambientais marcantes e se destaca pela beleza do s?tio onde est? assentada. Encravada num encontro de rio e mar, a cidade se desenvolveu tomando a forma determinada pelo suporte f?sico. O Rio Potengi, o Oceano Atl?ntico e o vasto ecossistema dunar existente representaram limites ? expans?o urbana, ao mesmo tempo em que possibilitaram a configura??o de uma paisagem marcada pela dial?tica entre os elementos naturais e os construtos humanos. Por?m, essa rela??o come?ou a mudar com a intensifica??o do processo de verticaliza??o, em curso na cidade desde os anos 1960. A legisla??o urban?stica procurou preservar as caracter?sticas da paisagem local instituindo ?reas de Controle de Gabarito, destinadas a proteger o valor c?nico-paisag?stico de alguns trechos da cidade. Em contrapartida, o setor da constru??o civil tem exercido constante press?o no sentido de abolir ou modificar esse instrumento legal, visando lucros que foram potencializados, nos anos 1990, pelo consumo e qualifica??o do espa?o urbano para as atividades tur?sticas. ? preciso que surjam novos elementos para refor?ar a discuss?o sobre a preserva??o da paisagem, no processo de produ??o do espa?o urbano e nas formas de implementa??o da legisla??o. Este trabalho tenta levantar elementos sobre o tema ao n?vel local, no sentido de que a experi?ncia de Natal e seu estudo de caso possam contribuir para formular indicativos capazes de questionar a n?o mensura??o de valores subjetivos, como por exemplo o valor cultural e afetivo da paisagem. Os elementos naturais, hoje inseridos na malha urbana, representam fortes refer?ncias visuais, fornecem identidade ao tecido urbano, fazem parte do imagin?rio coletivo e se destacam no contexto social da cidade. Por que, ent?o, a preserva??o da paisagem, que pressup?e o aumento da qualidade de vida, n?o ? raz?o suficiente para justificar o controle de gabarito previsto no Plano Diretor de Natal? Esta quest?o remete ao enfoque da paisagem como patrim?nio coletivo, alertando que alguns atributos est?ticos e paisag?sticos, carregados de significados, devem ser preservados como um legado para as gera??es futuras