Made available in DSpace on 2016-04-18T12:12:37Z (GMT). No. of bitstreams: 5 Natalia Sanchez1.pdf: 2234448 bytes, checksum: 120c689ab228835caa1d8e207e3d4459 (MD5) Natalia Sanchez2.pdf: 3336677 bytes, checksum: 6e78b17f6bee84c849a9aecabfe8f685 (MD5) Natalia Sanchez3.pdf: 1544465 bytes, checksum: a52012441bebfad9abc187223facbf22 (MD5) Natalia Sanchez4.pdf: 1460566 bytes, checksum: 978ad95a048078b1806f9e3b7e8ad6a4 (MD5) Natalia Sanchez5.pdf: 3418109 bytes, checksum: 1214067d00f7bfb4efb6cfeaf675f472 (MD5) Previous issue date: 2009-08-13 / Fundo Mackenzie de Pesquisa / This paper analyzes the appearance of the gated communities − phenomenon of the contemporary city − in the Barra da Tijuca district, located in the western part of Rio de Janeiro. This district, occupied from its beginning by high income population, was one of the last frontiers in the expansion of the city. The intensifi cation of its occupation started in the 1970 s, after the implementation the Pilot Plan, elaborated in 1968 by architect Lúcio Costa, according to the premises of Modern Urbanism. Urban planning, associated with the action of the real estate market and the increase in the urban violence, resulted in the decline of the urban nucleus established by Costa and the appearance of the gated communities − in the 1980 s − as the top real estate product. This model of dwelling, characterized by isolated towers in large stretches of land, with vast green areas and leisure facilities, turned the district into the carioca anti-city. resently, Barra da Tijuca is still one of the main areas of expansion in Rio de Janeiro and is a reference in big private developments focused on the high income population. / Esta dissertação trata do surgimento do condomínio residencial fechado − fenômeno da cidade contemporânea − no bairro Barra da Tijuca, localizado na zona oeste do Rio de Janeiro. O bairro, ocupado desde o início pela população de alta renda, foi uma das últimas fronteiras de expansão da cidade. A intensificação de sua ocupação só ocorreu a partir da década de 1970, após a implementação do Plano Piloto elaborado em 1968 pelo arquiteto Lúcio Costa, conforme premissas do Urbanismo Moderno. O planejamento urbano associado à ação do mercado imobiliário e ao aumento da violência urbana propiciou o declínio do núcleo urbano estabelecido por Costa e o surgimento do condomínio residencial fechado − na década de 1980 − como o produto moradia a ser explorado. Esse modelo de habitação, pautado na implantação de torres isoladas em grandes glebas, com amplas áreas verdes e de lazer, caracterizou o bairro como a anticidade carioca. Atualmente a Barra da Tijuca se mantêm como uma das principais áreas de expansão do Rio de Janeiro e é um referencial no que diz respeito aos grandes empreendimentos privados voltados para a população de alta renda.

Coordenação de Aperfeiçoamento de Pessoal de Nível Superior / The study of Brazilian real estate market, it s getting importance over time. In this sense the compression of how the Brazilian real estate market works, just like the relations between the investment options are important to investors to know better the risk of those assets. Thus, a Vector Autoregressive Model was used to analyze the short term relations between Brazilian real estate assets, general market and the Brazil Risk. The same way, was modeled an ordinary least square linear regression to identify the macroeconomic determinants of house price returns. The data used was for real estate investment trusts, the IFIX index, to real estate stocks was used the IMOB index, to the overall market we use the Ibovespa index and to represent the Brazil Risk, was used the EMBI+BR index. The research demonstrate an information transmission between the Brazil Risk and the financial assets of real estate market shows a positive relation with the overall market. Complementary to this, the returns of house properties prices had as macroeconomic determinants the interest rates and inflation index. / O estudo do mercado de Real Estate brasileiro, esta cada vez mais em voga. Neste sentido a compreensão de como o mercado imobiliário brasileiro funciona, assim como a relação entre as opções de investimento imobiliário são importantes para que os investidores tenham maior conhecimento de como se relacionam dinamicamente no tempo estes ativos. Para isso, foi utilizado um modelo de Vetor Autoregressivo, para analisar a relação de transmissão de informação no curto prazo entre os ativos do mercado imobiliário brasileiro, o mercado em geral e o Risco Brasil. Assim como, foi modelada uma regressão linear de mínimos quadrados para a identificação dos determinantes macroeconômicos dos retornos dos preços de imóveis residenciais. Desta maneira os dados utilizados tem origem de fundos imobiliários, onde será usada a proxy índice IFIX; ações das empresas do setor imobiliário com a proxy índice IMOB; e o Ibovespa como proxy de mercado, assim como o índice FIPEZAP como proxy de preços de imóveis residenciais e o índice EMBI + BR para o Risco Brasil. A pesquisa demonstrou a existência de transmissão de informação entre o Risco Brasil e os ativos financeiros do mercado imobiliário, assim como uma relação positiva entre estes ativos e o mercado em geral. Da mesma maneira demonstrou que para os retornos de imóveis residenciais, macroeconomicamente os determinantes vem das taxas de juros e inflação.

The diploma thesis deals with the occurence of price bubbles in the real estate markets and with the consequences resulting from their existence for the monetary policy authorities and for the macroprudential supervision. At first, the nature of price bubbles, the circumstances of their occurence and downfall and the possibilities of their identification are explained, while they are divided into rational and irrational bubbles. This is followed by the characteristics of the real estate market, by a description of its operation and by assessment of its specifics compared to the markets of other assets, while the real estate market is characterized by several market imperfections which constantly prevent it from heading to the equilibrium. Next part of the thesis refers to the analysis of the potential price bubble in the current Czech real estate market, separately for both the residential and the commercial segment of the market. Attention is paid to the central bank's response to current developments. In the last part, the thesis focuses on the implications of the impact of price bubbles on the real estate markets for the central banks' monetary policy and for macroprudential supervision authorities. The thesis also discusses the importance of asset prices in the context of inflation targeting and the importance of the role of real estate markets in systemic financial crises.

This dissertation thesis is focused at opportunities in real estate industry in connection with using internet based portal for real estate agencies. The thesis is based on Čestmír Kadlec's dissertation thesis which presents a methodology for creating real estate agencies portal. The main aim of this paper is to specify a concept of real estate agencies portal web pages according to methodology developed by Kadlec and evaluate required investment into development and operation the real estate agencies internet based portal. Firstly, theoretical part deals with information society, real estate market in the Czech Republic and how the evolution of information society influenced Czech real estate market in the past. Also the thesis contains description of real estate agency portals in the Czech Republic, their typology and a selection of a web portal for further analysis. The analysis of Sreality.cz contains a description of key processes and also description and fees of provided services. Practical part is focused at specification of real estate agencies web portal according to Kadlec's methodology which can be found in his dissertation thesis. Firstly, there is a description of real estate agencies portal as a system. Then there is an assessment how the proposed solutions meets the criteria specified by Kadlec, which the "ideal" web portal must have. In conclusion, the business case was prepared to Compaq the costs of development and operation of the portal and potential revenues according to competition market analysis. The outcome of the whole thesis is a recommendation whether the investment in the portal makes business sense.

The topic of the diploma thesis is a comparison of evaluation methods of family houses in the Czech and Slovak Republic, a legislation in relation to the evaluation in mentioned countries and a definition of particular terms: family house, value and price. There are basic methods of the evaluation of the immovable property used in Czech and Slovak Republic described in this thesis. The important part of the thesis is an analysis of the real estate market. On the basis of this analysis were chosen two comparable localities. Methods of the evaluation of the immovable property were applied on specific cases. Chosen family houses were valued at the common price, time price and ascertained price. The result of the diploma thesis is the comparison of evaluation methods used in the Czech and Slovak Republic.

This diploma thesis deals with the analysis of the real estate market in the Czech Republic and France with a focus on residential buildings, namely sale and rental of flats. The diploma thesis describes the basic concepts and methods used in real estate valuation in the Czech Republic and France. It also analysis database creation and market segmentation of selected localities. Consequently, both real estate markets will be compared.

This diploma thesis is about real estate market comparative appraisement, statistical approach and how to use software for data gathering and processing in its practical part. Practical part also includes draft of appraising algorithm. In the end of practical part, there are check of application's output and comparison of computed prices to both real traded prices and advertisement prices.

The thesis deals with the evalutation, which of the variants of the project investment is the most advantageous to the developer. The thesis is divided to the theoretical and practical part. The theoretical part is dedicaded to the explanation of terms associated with the investment, the investment project, the price determination and valuation of the real estates. There are also explained the terms related to the development projects and the real estate market. At last but not least, the theoretical part clarifies, how is the tax burden applicated to the practical part. The practical part is dedicated to the options such as sale, rent and partical sale of the real structural object, which is located in Prague, Brno and Ostrava. In conclusion, all of the variants are appraised for every city.

This thesis disserts on real estate development projects. The main targets are analysis of current situation in the field of real estate development and suitable ways of financing such projects. As a result this text should bring a detailed insight into how real estate development projects are managed and evaluated.

Diploma thesis discusses the work of management and selection of new colleagues in the real estate market. The objective of diploma thesis is to comprare if management work and selection of new colleagues is corresponding with specializaded literature. The theoretical part deals with basic concepts from the area of management, selection new employees and real estate market. Over the three different studies (questionaries, personal interwiev and work experiens) in the practical part, I made the colletion of date, analysis and evaluation. At the end of the work, I made assessment theoretical and practical part, my self recommendation and conclusions of the diploma thesis. Including diploma thesis is manual for collection of new staff in real estate market.