En flippers roll på marknaden avser individer som köper bostäder- och fastigheter, antingen på den nya marknaden eller på eftermarknaden, i syfte att tjäna på bostäderna och därmed aldrig flytta in i dem. Deras investeringar kallas för spekulantköp och har blivit vanligare de fem senaste åren. En flippers effekt på bostads- och fastighetsmarknaden är att dem skapar och påverkar marknadens prissättning. Denna studie har använt en induktiv forskningsmetod som kombinerar litteraturstudier och en empirisk ansats i form av intervjuer. Det har gjorts tre intervjuer med Boklok, Abacus och Järntorget bostad. Även intervjuer med FMF och teoretiker Hans Lind. Flippers investerar som mest i centrala Stockholm enligt antydning från FMF och är aktuella på båda marknaderna: den nya marknaden och eftermarknaden. Generellt finns ingen negativ syn på flipping, men farhågor existerar kring hur affären görs och i vilken utsträckning den kan påverka andrahands köpare och vad som skulle hända om marknaden vänder – och då hur konsekvenserna av flipping lägger sig hos byggherrarna. Resultatet visar att flipping kan medföra negativa konsekvenser i köpprocessen vid nyproduktion som medför störst risk om marknaden svänger, samt hos andrahandsköpare som kan få problem efter tillträde då flipping gjorts under felaktiga premisser. / A flippers role in the market refers to individuals who purchase real estate, either in the new market or on the after market in order to serve the housing and thus never move into them. Their investment is called speculator investments and has become more common the last five years. A flippers effect on housing and real estate market is that they create and affect market pricing. This study has used an inductive research method that combines literature and an empirical approach representing interviews. There have been three interviews with real estate companies: BoKlok, Abacus and Järntorget Bostad combined with interviews with FMF and theorist Hans Lind. In Sweden, Flippers are investing most in central Stockholm, according to hints from the FMF but are current in both markets. Generally there are no negative view of flipping, but concerns about how business is done and to what extent it can affect other hand the buyers and what would happen if the market turns - and the consequences of flipping folds of the developers. The result shows that flipping can have negative consequences in the buying process of new construction when it is it brings the greatest risk of market swings, and of second-hand buyers who might have problems after admission if flipping was done under false pretenses.

Real estate industry is a new economic growth point and main industry in Chinese gross domestic product nowadays. This paper analyzes the trend of Chinese real estate market development to help investors to understand the current situation of Chinese real estate markets and policies better, so as to make better real estate investment decisions in China in the future. Because of oversaturated with investment and higher cost of investment there are more and more limitations in investing in big cities in China. With the rapid development of the economy, the huge inner demand of real estate is increasing in medium and small sized cities. Some investigations show that there are huge spaces of the appreciation in Chinese real estate market in medium and small sized cities. The author will describe and analyze the investment strategy and development of Fuxing Huiyu Real Estate Corporation as a case study. The demonstrated company is a public company with rapid growth in a medium sized city named Wuhan in the central part of China. Other investment companies or real estate companies could get some ideas by analyzing the development and decision making process of this company.

An increasing population is a given pursuit for many municipalities in Sweden. The purpose of this thesis is to demonstrate a method that may help increase the municipalities awareness of what possible newcomers are looking for in residential development areas, what their preferences are, and what it is that affects their decision to live in a certain area and house. With this type of information, municipalities are introduced to the underlying factors that influence the customer’s (newcomer’s) decision-making processes. A better market awareness can increase municipality’s competitiveness as well as ensure a higher demand for housing. This thesis shows how a real estate market analysis of level D with a customer-based attitude survey is performed through a case study of the development area Norra Arnö in the municipality of Nyköping in Sweden. Norra Arnö is currently undeveloped, with the exception of a new retirement home. An attitude survey serves as a large part of the market analysis to analyse the customer experience of the housing development Norra Arnö. The survey was formulated through several dimensions that have an impact on the decision making process when moving to a new area. These dimensions include; appealing residential project, pleasant living environment, appealing residential houses, overall impression, an intention of moving to a similar project, communication, and value for money. Towards the end of the survey the respondents were asked whether they had an intention to buy an apartment in Norra Arnö, to which 21 out of 229 responded yes. The answers were then analysed through the methods Exploratory factor analysis and Structural equation modeling. These techniques enabled a comparison of the groups (e.g. families with children, ages, gender etc.) preferences in each dimension to find out what factors affect the decision making process for each group. The results of the survey found that young people (under 29 years) have a more positive overall impression of the project and demonstrate a greater intention to live in a residential area similar to Norra Arnö. Additionally it is the lower income groups (below 399 000 kr per year) and those who intend to move within five years, who also have an intention to live in a housing project similar to Norra Arnö. The age group 30-44, families with children, residents of Nyköping and people living in single-family houses were more positive to the dimension communications, which means they to a greater extent believe Nyköping is a good town to live in, where they can easily reach their friends, work and activities. Generally speaking, the dimension communications had greatest ii significance for the differences of answers exhibited in the survey, and can therefore have a major impact on the demand of the project. Out of 229 respondents, 21 people said they intended to buy an apartment in this new area, which unfortunately is a too small figure to be able to analyse the factors that have the greatest influence on the decision of saying yes to the project. The number of people resident in Oxelösund, the secondary market area, was 40, regrettably also a too low number of people to statistically estimate the size of the demand. However 10 % of respondents showed an intention to buy an apartment on Norra Arnö, and considering that the survey only took into account one secondary market area, it is assumed that demand exists for the apartment complex even though a specific number cannot be estimated. / Strävan efter att öka sin befolkning är en självklarhet för många kommuner. Syftet med denna uppsats är att visa en metod för kommuner, som genom att öka förståelsen av marknadens preferenser, gör dem mer konkurrenskraftiga. Marknadsanalyser för fastigheter har främst varit ett redskap för byggherrar för att beräkna lönsamheten innan en investering. Trots att metoden har många användningsområden är metoden inte känd i någon större utsträckning bland kommuner i Sverige. Om kommuner genomför marknadsanalyser av nya utvecklingsområden innan planeringsarbetet får de inte bara information om efterfrågans storlek, men även målgrupp, vilka faktorer som avgör i kundernas beslutsfattande och kundernas preferenser. Med denna information kan utformningen av området anpassas till att bäst passa målgruppen och kommunen kan öka sin konkurrenskraft. Detta examensarbete innehåller en fallstudie av utvecklingsområdet Norra Arnö i Nyköpings kommun för att demonstrera hur en marknadsanalys nivå D tillämpas. För att ta reda på kundupplevelsen kring utformningen av Norra Arnö genomfördes en attitydundersökning med frågor inom de dimensioner som har en påverkan på beslutsfattandet i boendevalet. Dessa dimensioner är tilltalande bostadsprojekt, trivsam boendemiljö, tilltalande bostadshus, helhetsintryck, intention, kommunikationer och prisvärdhet. De totalt 229 respondenterna fick i slutet svara på om de hade en intention att köpa en lägenhet på Norra Arnö, där 21 personer svarade ja. Svaren analyserades sedan med analysmetoderna explorativ faktoranalys och strukturell ekvationsmodellering. Det gjorde det möjligt att jämföra grupper (exempelvis barnfamiljer, åldrar, kön m.m.) med de olika dimensionerna för att förstå vad det är som påverkar intentionen att köpa en lägenhet. Undersökningen visade att unga (under 29 år) får ett bättre helhetsintryck av projektet och påvisar en större intention att bo i ett bostadsprojekt som liknar den på Norra Arnö. Det är även lägre inkomstgrupper (hushåll med en inkomst under 399 000 kr/år) och de som har för avsikt att flytta inom 5 år som har en intention att bo i ett bostadsprojekt som liknar Norra Arnö. Åldersgruppen 30-44, barnfamiljer, Nyköpingsbor samt boende i småhus var mer positivt inställda till dimensionen kommunikationer, vilket innebär att de i högre grad anser att Nyköping är en bra stad att bo i där de enkelt kan nå sina vänner, arbete och fritidsintressen. Generellt hade dimensionen kommunikationer störst betydelse för de skillnader som uppvisades i undersökningen och är därför en ledtråd till vad som har stor påverkan på efterfrågan av projektet. Det var 21 personer som hade en intention att faktiskt köpa en lägenhet på Norra Arnö, en för låg siffra för att analysera iv vilka faktorer som påverkade mest i deras syn på projektet. Av 229 svarande var 40 personer från Oxelösund, vilket innebär att det var för låg antal personer från det sekundära marknadsområdet för att med säkerhet skatta efterfrågan med stratifierat urval. Dock hade 10 % av de svaranden en intention att köpa en lägenhet på Norra Arnö, och med tanke på att endast ett sekundärt marknadsområde undersöktes kan man anta att efterfråga finns för området trots att en siffra inte kan bestämmas.

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This thesis covers two subjects regarding the real estate market in Prague. In the first part, we look for factors that influence the differences between offer and realized prices of residential properties. From our dataset, we identify the area and the time spent on market as the variables with the largest impact on the price differences. Additionally, we find that price differences are spatially correlated and tend to influence each other. Finally, accessibility of the apart- ment to given POI's seems to have a small but significant effect as well. In the second part, we build a neural network to predict the transaction prices per meter squared. After thorough architecture adjustment and hyperparameter tuning, we propose a model which is able to improve the current best prediction on the dataset by more than 12 %.

The topic of this diploma thesis are trends in economic journalism and its specifics. The thesis introduces economic journalism to the context of journalism generally and deals with the role and nature of economic journalism. It also introduces the specifics, which may differ in different types of media. At the same time, the specifics of the work of an economic journalist and journalistic ethics are mentioned. Individual media types are presented from the point of view of economic journalism and the thesis offers also an overview of already existing literature related to the topic. Moreover, I am not aware that there would be an existing publication in the Czech environment that would focus specifically on economic journalism. The research part is devoted to the case study that deals with media coverage of real estate market. The reader is acquainted with the basic concepts and developments in this market to fully understand the context of the study. Subsequently, the research methodology and workflow are presented. The news from September in 2007, 2014 and 2017 were analysed. The necessary data were entered into coding tables with specific numerical codes. Using the quantitative content analysis, the work revealed what topics in the field of real estate, the topics are addressed and also what...

En flipper är en bostadsspekulant som köper och säljer bostäder i syfte att gå med vinst istället för att bosätta sig i dem. Flippern köper en bostad medveten om att objektet har fel prissättning och vill tjäna på det. Deras investeringar benämns som spekulationsköp och har ökat under de senaste åren då det har varit en uppgång på bostadsmarknaden. De intervjuade byggherrarna kan dock utmärka en minskning av spekulationsköpen och att de har börjat avta med den nedgång vi har nu på bostadsmarknaden. Spekulationsköp som fenomen existerar på både nyproduktionsmarknaden och på den begagnade bostadsmarknaden. En flipper påverkar bostads- och fastighetsmarknadens prissättning. Det här är en kvalitativ uppsats med en induktiv metodansats och består av litteraturstudier och en empirisk ansats i form av intervjuer. Den empiriska ansatsen består av intervjuer med ett antal byggherrar, tidigare professor i fastighetsekonomi Hans Lind och professor i fastighetsjuridik Annina Persson. Resultatet visar att den största konsekvensen spekulationsköp har på byggherren är den affärsrisk som en sådan kund medför. Spekulationsköpare med gott om kapital utgör ingen affärsrisk för byggherrarna men är fortfarande ett problem för bostadsrättsföreningen som vill få in aktörer i föreningen som värnar om den. Lind anser att byggherrarna inte behöver införa några åtgärder för att förhindra spekulationsköp om marknaden stabiliseras. BoKloks pristaksklausul fyller enligt Lind inte någon funktion då marknaden kommer att plana ut och då kommer spekulationsköpen att minska. De juridiska aspekterna mot flipperinvesteringar är att mäklaren kan ha agerat på ett sätt som är i strid mot god fastighetsmäklarsed, köparen påverkas inte av några större sanktioner. Enligt Persson är BoKloks pristaksklausul rättsligt bindande och går inte att komma runt. Det som gör att klausulen ända får verkan fast att den egentligen inte har det är att styrelsen nekar den nya köparen från att bli medlem i bostadsrättsföreningen. / A flipper is a housing speculator who buy and sell housing in order to profit instead of settle in them. The flipper buys a residence with the knowledge of that the object has the wrong pricing and wants to profit from it. Their investments are called speculative purchase and has increased in recent years when it has been a rise in the housing market. They interviewed construction companies however, can excel a decrease in speculative purchases and that they have started to disappear with the decline we have now in the housing market. Speculative purchases exist on both the new production market and the used housing market. A flipper affect housing- and real estate markets pricing. This is a qualitative study with a inductive method approach and consists of a empirical approach in the form of interviews. The empirical approach consists of interviews with a couple of construction companies, former professor in property economics Hans Lind and professor in property law Annina Persson. The result shows that the biggest consequence speculative purchase have on the construction companies is the business risk that such a customer entails. Speculative buyers with plenty of capital poses no business risk for the construction companies but still is a problem for the housing cooperative who wants to get in actors in the association who cares for it. Lind believes that the construction companies doesn’t need to introduce any measures to prevent speculative buyers if the market stabilized. BoKloks price ceiling clause does according to Lind not fulfill any function because the market will level out and then the speculative purchases will reduce. The legal aspects against flipper investments is that the broker may have acted in a way which is contrary to good real estate agent etiquette, the buyer is not affected by any greater sanctions. According to Persson is BoKloks price ceiling clause legally binding and is not possible to get around. That which make the clause still get effect although it doesn’t really have it is that the board denies the new buyer from becoming a member in the housing cooperative.

The Ghanaian real estate market, though thriving, grapples with insufficient market data. The lack of data renders the market nontransparent and increases transaction costs. Considering the market performance over the past few years, great potential lies for even more growth if this problem is addressed. This research aims to provide an understanding of the data needs of the market and the effects of data paucity on the market. It also explores the potential that state institutions provide to ameliorate the problem. The data for this study is collected from interviews with real estate valuers and data aggregation firms that operate in the Ghanaian market. Data is also collected from acts of parliament. The research outlines the perspectives of valuers regarding the problem and the provisions that legal documents make for improving access to market data. This is conducted through qualitative methods. The research finds that the problems with data inaccessibility do not only affect market transactions but also the training of valuers and research about the market. The results indicate that government legislation makes provisions that should enable the collection of data by different agencies to be made publicly available; however, it appears the lack of incentives and a lack of enforcement of these institutions has resulted in the status quo: stakeholders in the market seem to be sitting on a goldmine.  Therefore, relevant stakeholders in the market need to drive change in data provision for a more transparent and efficient market.

[pt] Após um período de estabilidade econômica e mudanças na regulação do setor imobiliário, as incorporadoras brasileiras lançaram inúmeros empreendimentos, contando que os índices econômicos financeiros fossem mantidos. Em geral, os projetos imobiliários lançados consideravam que a inflação permaneceria controlada, os juros continuariam em uma curva descendente, e a política de crédito ainda seria abundante. Contudo, a realidade deparada é oposta em diversos aspectos. Tal cenário contribuiu para a disparada das desistências dos contratos e para a estagnação do mercado imobiliário. Visto que neste mercado as incorporadoras precisam aguardar a entrega do empreendimento para receber a maior parte dos recebíveis, foram surpreendidas pela queda abrupta em seu fluxo de caixa. Neste trabalho, foi realizado uma análise de sensibilidade de um projeto imobiliário, considerando um cenário otimista, realista, pessimista e um de stress. O objetivo do trabalho é incluir a análise de risco de mercado e de crédito e seus impactos no estudo de viabilidade de um projeto imobiliário. / [en] After a period of economic stability and changes in the regulation of real estate sector, brazilian developers launched countless projects, considering that the indexes would be kept. These firms believed that inflation would remain under control, interest rates would continue on a downward curve, and credit policy would still be abundant. However, nowadays, reality is the opposite in many aspects. This scenario contributed to an increase on contracts withdrawals and the stagnation of the housing market. Since, in this market, developers need to await until the conclusion of the project to receive most of their receivables , they were surprised by the sudden drop in theirs cash flows. In this work, a sensibility analysis of a real estate project was carried away, considering four scenarios: optimistic, realistic, pessimist and stress. The objective of this work is to include market and credit risk analysis and their impacts in a real estate viability study.

The Riksbank’s purpose with the policy rate is to create price stability in the economy and achieve the inflation target. The Swedish real estate market is interest rate sensitive, thereby affected by the economy in Sweden. This thesis investigates the policy rates impact on the volatility of the Swedish real estate market, during the years 2002-2024, using an event study approach with panel regressions. Further, if an increase or decrease of the policy rate have a greater impact of the volatility. By using a quantitative method this thesis uses historical data representing each firm as well as some other independent variables, as OMX Stockholm Real Estate GI. The study provided evidence that the policy rate has an impact on the volatility of the Swedish real estate market, as the majority of the events demonstrated a relationship between the policy rate and the volatility. However, the thesis could not conclude if an increase or decrease of the policy rates has had a greater impact.