The aim of the theoretical part of my Master’s thesis is to summarize the historical evolution of building construction in České Budějovice, to process the summary of residential construction in each area of the city, and to describe current construction. There is described in my thesis how was the city of České Budějovice developing, varying and ramifying over time. In the practical part I did the analysis of the future construction using the survey among residents of České Budějovice and so future builders. Analysis determines the requirements for the type and location of the future construction, builders’ own building requirements. This thesis summarizes and describes the history and current construction. Also thanks to the practical part gives awareness about the direction of residential constructions in České Budějovice in the coming years.

Thesis is submitted in partial fulfilment for the degree of Master of Science in Building (Property Development and Management) to the Faculty of Engineering and the Built Environment, School of Construction Economics and Management at the University of the Witwatersrand, Johannesburg, 2017 / The research study seeks to determine the most resilient residential real estate market segment throughout the economic cycle waves, for the innercity of Johannesburg, South Africa. The study is prompted by various global reports that subtly suggests a uniform effect to real estate market segments throughout economic cycle waves. Such reports have adopted various indices as proxy to economic cycle waves (e.g. interest rates, current account deficit, gross domestic product, etc.) and house price as proxy to real estate market segments in an attempt to justify the relationship between the proxies. For purposes of this research report, business cycles are employed as proxy to economic cycle waves whilst house prices are also representative of real estate market segments. In a country that ranks third globally on high inequality, with a gini coefficient of 0.63, it is considered improbable – at the very least - that the performance of real estate market segments would react uniformly to the effects of economic cycle waves. The residential sector is opted as a test case, mainly due to growing number of population and the desperate need for housing to accommodate such high population growth levels. The housing challenge needs to be thoroughly understood so that informed and/or adequate planning can be formulated. The research study follows a Pragmatism Philosophy, which allows for mixed method approach in addressing research questions, in order to meet the research aim and objectives. An Explanatory Sequential research design is used as a form of mixed method approach. The process involves collecting both Qualitative and Quantitative data, integrating the two forms of data, and using distinct designs that involves philosophical assumptions and theoretical frameworks. In this case, Quantitative methods are used to explain Qualitative methods. Priority is given to Quantitative data and the two methods are integrated during the interpretation phase of the research study. Empirical analysis using tools such as Quantile Regressions (e.g.OLS regressions) for a period between 2005 (Q1) and 2015 (Q4) are analysed and discussed. Standard errors and covariances were computed using tools such as the Huber-Sandwich methods, to which an Augmented Dickey-Fuller test was conducted to test for the null hypothesis of a unit root in a time series sample. The Breusch-Godfrey Serial Correlation LM test is also used to confirm the absence of serial correlation at four lags. The ARCH LM test is used to show that residuals are homoskedastic, i.e. that there is no evidence of time-varying variance. A negative and significant coefficient appears only the high price sector, suggesting that the business cycle has a negative impact on house prices in the high residential real estate market segment, displaying negative average growth over the period. House prices in the low and medium residential real estate market segments do not respond to movements in the business cycle, on the average. Property size also displayed a negative impact on house prices in the high residential real estate market segment. The autoregressive parameters for house prices in the low and middle residential real estate market segments are statistically significant at 5% and 10%, respectively. Negative and significant coefficient is recorded for the middle residential real estate market segment as well, at the second quantile. In conclusion, the low residential real estate market segment appeared to have been the most resilient residential real estate market segment amongst other residential real estate market segments. The middle residential real estate market segment appears to have been a partially resilient, whilst the high residential real estate market segment appears to have been the least resilient. Given these findings, it is submitted that residential real estate market segments need to be considered or assessed individually, in order to formulate adequate strategies for integrated and sustainable human settlements. / MT2018

An investment vehicle that holds listed real estate securities that focus on residential properties globally, is currently not available. The study’s purpose is to determine the feasibility of such a product, its potential advantages and disadvantages. This thesis applied a qualitative research method by conducting semi-structured interviews with professional fund managers in Sweden and Germany that manage real estate funds. The literature review and theory consist of fundamentals and academics in real estate investing, investment vehicles, portfolio theory and lastly investor types and their behaviour. The authors conclude that the majority of experts interviewed considered the proposed vehicle as interesting but lifted concerns that need to be addressed in further research. The political risk, especially on a global scale, was stated as the major risk. Furthermore, experts have divided opinions regarding the maturity for listed real estate companies on the financial markets. What type of investment vehicle that would be the most suitable will depend on investment tactic, investors and the current status of the global economy and the financial markets. The overall investigations result is that experts view the proposed idea as positive and feasible. It poses a good foundation for further research and might find its place in the sphere of real estate investments. / En investeringsform som innehåller noterade fastighetsaktier globalt, där bolagen är fokuserade på hyresfastigheter, är förnärvarande inte tillgängligt på marknaden. Uppsatsens syfte är att avgöra om en sådan inveteringsform är genomförbar samt undersöka dess fördelar och nackdelar. Denna uppsats har applicerat en kvalitativ metod genom semi-strukturerade intevjuer med profesionalla fondförvaltare som förvaltar fastighetsaktiefonder i Sverige och Tyskland. Litteraturstudien och teorin innehåller akademisk forskning och fundamentala teorier inom fastighetsinvesteringar, investeringsstrukturer, portfölj teori och till sist investeraryper och dess beteende. Författarna konstaterar att majoriteten av experterna ansåg att den förslagna investeringsformen är intressant, men belyste också svårigheter och risker som bör adresseras i forstsatt forsking på ämnet. Den politiska risken, speciellt på ett globalt plan, ansågs vara den största risken. Experterna hade delade åsikter angående mognaden för globala fastighetsaktier på de finansiella marknaderna. Vilken investeringsstruktur som är bäst tillämpar beror enligt experterna på investeringstaktik, investerarna och det nuvarande klimatet i världsekonomin och på de finansiella marknaderna. Studien resulterade i att experterna ser på den försglagna investersformen positivt och som genomförbar. Förslaget innehar en godgrund för fortsatt forskning och kan i framtiden hitta sin plats i sfären av fastighetsinvesteringar.

The real estate sector has a large impact on the economy and a significant impact on financialmarket stability. Several unique features characterize the real estate market assets; these arestable cash flow, a stable demand, and low volatility, contributing to the underlying value.However, the industry is considered illiquid due to a lack of transparency, informationasymmetry, and difficulty in quickly executing a trade. Tokenization, smart contracts, anddigital identities are some of the applications of blockchain, which are regarded to be onerevolutionary technology that has the potential to change the real estate market. However, it isnot clear how these technologies would impact real estate transaction processes in the future.Previous research has looked at the blockchain as a financial tool and how it connects to realestate as a legal instrument and a transaction market application to improve transparency andliquidity. However, the previous research has not considered the main risks and challenges witha blockchain adoption in the Swedish residential real estate market. Therefore, this thesis looksat how blockchain technology can be used in the residential real estate sector. The dissertationhas been answered through a structured qualitative study with an inductive approach. Theempirics has been gathered through a literature study, semi-structured interviews, and adocument analysis.The results illustrate that blockchain can be useful in residential real estate transactionprocedures through tokenization, storing ledger, and digital identities. Through our analysis,we could conclude that to adopt blockchain, the industry must take small steps in the directionthat the digital evolution wishes to go. It is not possible to drastically implement blockchain inthe residential real estate market, rather a successive transaction with the help of innovationsand new regulations from the authorities.The ability to store and validate data has been a primary rationale for using the technology asthe industry adjusts to conventional analog business processes that are becoming increasinglydigital. Despite that many view blockchain as a technology that quickly disrupts real estatetransaction processes, we conclude that blockchain innovation instead progressesincrementally due to many challenges and risks associated with the technology and theindustry’s conservative nature. The research contributes to a better understanding of blockchaintechnology and its possibilities and challenges in the real estate industry. / Fastighetssektorn är en sektor som har stor inverkan på ekonomisk tillväxt och betydandeinverkan på finansmarknadens stabilitet. Bostadsfastigheter har flera unika egenskaper somkännetecknar dessa tillgångar. Några av dessa är det stabila kassaflödet, en stabil efterfråganoch en låg volatilitet, vilket bidrar till det underliggande värdet. Branschen anses dock varaillikvid på grund av bristande transparens i sina transaktioner, informationsasymmetri ochsvårigheter att genomföra en snabb transaktion. Tokenisering, smarta kontrakt och digitalaidentiteter är några av tillämpningarna för blockchain, som anses vara en revolutionerandeteknik som har potential att förändra fastighetsmarknaden, men det är inte klart hur dessateknologier skulle påverka processer för fastighetstransaktioner i framtiden.Tidigare forskning har tittat på blockkedjan som ett finansiellt verktyg och hur den hjälperfastighetsmarknaden som ett juridiskt instrument, såväl som transaktionsmarknadsapplikationför att förbättra transparens och likviditet. Den tidigare forskningen har dock inte övervägtriskerna och utmaningarna med en blockchain-adoption på den svenskabostadsfastighetsmarknaden. Därför är syftet med denna uppsats att undersöka hurblockkedjeteknologi kan användas inom bostadsfastighetssektorn. Avhandlingen har besvaratsgenom en strukturerad kvalitativ studie, med ett induktivt förhållningssätt. Empirin har samlatsin genom en litteraturstudie, semistrukturerade intervjuer och en dokumentanalys.Resultaten illustrerar att blockchain kan användas i bostadsfastighetstransaktioner genomtokenisering, lagring av reskontra och digitala identiteter. Genom vår analys kunde vi draslutsatsen att en adoption av blockchain måste ta små steg i den riktning som den digitalautvecklingen vill gå. Det är inte möjligt att drastiskt implementera blockchain påbostadsfastighetsmarknaden, snarare en successiv övergång med hjälp av nya innovationer ochnya regleringar från myndigheterna.Möjligheten att lagra och validera data har varit en primär motivering för att använda teknikennär branschen anpassar sig till det faktum att konventionella analoga affärsprocesser blir alltmer digitala. Trots att många ser blockchain som en teknik som revolutionerarfastighetstransaktionsprocesser, drar vi slutsatsen att blockchain-innovationen snarare börimplementeras stegvis. Detta beror på många utmaningar och risker förknippade med tekniken,samt på grund av branschens konservativa karaktär. Forskningen bidrar till en bättre förståelseav blockkedjeteknologin, samt dess möjligheter och utmaningar inom fastighetsbranschen.

The EU Taxonomy, a cornerstone of the EU’s sustainable finance framework, serves as a vital tool for market transparency by defining criteria for economic activities aligned with a net-zero trajectory by 2050 and other environmental goals. This new regulation significantly impacts the real estate sector, presenting substantial challenges for residential developers in aligning with its requirements. Given the recent implementation of the Taxonomy, limited research exists on its practical impacts. This thesis aims to fill this gap by exploring the challenges and strategies of Swedish residential real estate developers in adapting to the EU Taxonomy.  The study employs a qualitative research approach, conducting semi-structured interviews with industry stakeholders to examine organizational, technical, economic, and external perspectives. The findings reveal that developers struggle with the Taxonomy’s complexity, insufficient guidance, and lack of standardized approaches. Additional challenges include conflicting stakeholder expectations and inconsistent local government directives. The significant resources and upfront costs required for alignment further complicate compliance. To overcome these challenges, companies are integrating sustainability into core business strategies, fostering cross-departmental collaboration, and adopting green innovations in project design and construction. Financially, they are pursuing green financing options, recognizing their importance for competitiveness and investor appeal. Additionally, companies are engaging in industry networks and seeking external guidance.  The study underscores the critical role of external market dynamics in driving the adoption of the EU Taxonomy. Investors and creditors, through increased scrutiny and demand for sustainable investments, promote compliance. Integrating sustainability into business strategies is not only a regulatory requirement but also essential for long-term competitiveness and resilience. / EU-taxonomin, en hörnsten i EU’s ramverk för hållbar finansiering, är ett viktigt verktyg för att skapa marknadstransparens genom att definiera kriterier för ekonomiska aktiviteter som är i linje med en netto-noll-resa till 2050 och andra miljömål. Denna nya reglering har haft stor påverkan på fastighetssektorn och medför betydande utmaningar för bostadsutvecklare att anpassa sig till dess krav. Med tanke på att taxonomin nyligen implementerats finns det begränsad forskning om dess praktiska påverkan. Denna avhandling syftar till att fylla denna lucka genom att utforska utmaningarna och strategierna hos svenska bostadsutvecklare i anpassningen till EU-taxonomin.  Studien använder en kvalitativ forskningsmetod och genomför semi-strukturerade intervjuer med branschaktörer för att undersöka organisatoriska, tekniska, ekonomiska och externa perspektiv. Resultaten visar att utvecklare kämpar med taxonomins komplexitet, otillräcklig vägledning och bristen på standardiserade tillvägagångssätt. Ytterligare utmaningar inkluderar motstridiga förväntningar från olika intressenter och inkonsekventa direktiv från lokala myndigheter. De betydande resurser och initiala kostnader som krävs för att uppnå överensstämmelse försvårar dessutom efterlevnaden.  För att hantera dessa utmaningar integrerar företag hållbarhet i sina kärnstrategier, främjar tvärfunktionellt samarbete och antar gröna innovationer i projektutformning och byggnation. Finansiellt söker de gröna finansieringsalternativ och erkänner deras betydelse för konkurrenskraft och investerarattraktion. Dessutom engagerar sig företag i branschnätverk och söker extern vägledning.  Studien betonar den kritiska rollen hos externa marknadsdynamiker i att driva införandet av EU-taxonomin. Investerare och långivare, genom ökad granskning och krav på hållbara investeringar, främjar efterlevnad. Att integrera hållbarhet i affärsstrategier är inte bara ett regulatoriskt krav utan också avgörande för långsiktig konkurrenskraft och motståndskraft.

by Chan Ngai-Ming, Zoe, Chung Ting Ting. / Thesis (M.B.A.)--Chinese University of Hong Kong, 1998. / Includes bibliographical references (leaves 56-57). / ABSTRACT --- p.ii / TABLE OF CONTENTS --- p.iii / LIST OF ILLUSTRATIONS --- p.v / LIST OF TABLES --- p.vi / Chapter / Chapter I. --- INTRODUCTION --- p.1 / Chapter II. --- THE HONG KONG PRIMARY RESIDENTIAL INDUSTRY --- p.6 / Industry Overview --- p.6 / Developers for This Study --- p.6 / Chapter III. --- THEORETICAL FRAMEWORK --- p.8 / Competitor Analysis --- p.8 / Market Commonality Vs Product Commonality --- p.8 / Suggested Attributes for Studying Product Commonality in this Industry --- p.9 / Location --- p.9 / Time of Sale --- p.9 / Flat Size --- p.10 / Other Factors --- p.10 / Resource Similarity --- p.12 / Competitive Actions and Responses --- p.12 / Product Commonality and Competitive Response --- p.14 / Competitive Response and Performance --- p.17 / Chapter IV. --- METHODOLOGY --- p.19 / Data --- p.19 / Identification of Actions and Responses --- p.19 / Measurement --- p.21 / Product Commonality --- p.21 / Likelihood of Response to Price Change --- p.24 / Response Magnitude --- p.24 / Performance --- p.25 / Comparative Approach --- p.25 / Chapter V. --- RESULTS --- p.27 / Product Commonality and Likelihood of Response to Price Change --- p.27 / Response Magnitude and Performance --- p.30 / Chapter VI. --- CONCLUSION AND DISCUSSION --- p.34 / Implications --- p.34 / Limitation and Future Directions --- p.36 / APPENDIX I RECOMMENDATIONS FROM STUDY OF HONG KONG RESIDENTIAL MARKET BY THE CONSUMER COUNCIL IN 1996 --- p.41 / APPENDIX IIA SUMMARY OF 27 DATA UNDER STUDIED --- p.43 / APPENDIX IIB TIMELINES FOR 27 DATA UNDER STUDIED --- p.46 / APPENDIX III PRODUCT COMMONALITY BREAKDOWN --- p.52 / APPENDIX IV SUMMARY OF PRIMARY DATA --- p.54 / bibliography --- p.56

1 Abstract This thesis investigates the housing price determinants and possibilities of housing price bubbles in the residential real estate markets of Central and Eastern Europe before and during the economic crisis of 2007-2009. Using data from international institutions, national central banks and national statistical offices three quantitative methods are applied. Price-to-income ratios suggest housing price bubbles that were eliminated during the crisis in three out of five countries covered. Second approach of simple panel data models sheds additional light on housing price bubbles and indicates GDP growth, unemployment and average real wage as the main determinants of housing prices in the region. First indication of severe housing price persistence in CEE is demonstrated by the results of the models as well. More reliable results for housing price determinants are obtained from variance decomposition and impulse response functions of vector autoregression models. Each country is modeled separately and substantial differences exist between the countries. Poland is the only country that does not exhibit housing price persistence and dynamics in Austria are less volatile as compared to the new EU members in the sample. JEL Classification G12, E39, R21, R31, R32 Keywords residential real estate, housing...

The National Credit Act (NCA) was promulgated and implemented on 1 June 2007. The purpose of this research study was to outline the residential mort-gage market in South Africa in the context of the NCA and to determine how residential mortgage lending under the new NCA was regulated. The purpose of the NCA was to remove the many unfair practices, inappropriate disclosure and anti-competitive practices from the market and to achieve honesty in the credit market. Low-income groups were held back because they could not gain access to formal finance to build or improve houses or supplement housing subsidies to get bigger houses. This study applied the quantitative research design using time series secondary data. Registered data on monthly residential mortgages was obtained from Lightstone Property for the period January 2001 to August 2011. Secondary data was collected from the BA900 of the SARB to see how many loans were approved and rejected between 2008 and 2014. The statistical analysis techniques used in this study were t-tests, descriptive statistics, trend analysis and correlation analysis. It was found that the NCA had a positive effect on the residential mortgages in SA. / Business Management / M. Com. (Business Management)

for the master's thesis The structure of the master's thesis includes an introduction, three chapters, a conclusion, the references and applications. The foundations of the complex and spatial development of the city and their features are determined in the first chapter. The main directions of the complex development of the city are systematized and examples and peculiarities of quarterly construction and foreign experience of implementing projects based on the principle of quarterly development are considered. The second chapter describes the methodological aspects of the study on the choice of the strategy for the implementation of the project. The socio-economic consequences of realizing development projects and on their results the forming of the optimal way of construction are also examined. The residential property market in the city of Yekaterinburg is also analyzed. The third chapter presents an analysis of the development project, implemented by the necessary criteria and carried out its economic evaluation. The project budget was drawn up and the efficiency of the investment project for the construction of the residential property was assessed. The main part of the thesis is presented in 90 pages, contains 7 tables, 2 figures and 2 formulas. / Структура магистерской диссертации включает в себя введение, три главы, заключение, список использованных источников и приложения. В первой главе определяются основы комплексного и пространственного развития города и их особенности. Систематизируются основные направления комплексного развития города и рассматриваются примеры и особенности квартальной застройки и зарубежный опыт реализации проектов, основанных на принципе квартальной застройки. Во второй главе проводится анализ методических аспектов исследования по выбору стратегии реализации проекта. Рассмотрены социально-экономические последствия реализации девелоперских проектов и на их результатах cформированы оптимальные пути строительства. Также анализируется рынок жилой недвижимости в городе Екатеринбурге. В третьей главе представлен анализ девелоперского проекта, реализуемого по необходимым критериям и проведена его экономическая оценка. Составлен бюджет проекта и проведена оценка эффективности инвестиционного проекта по строительству объекта жилой недвижимости. Основная часть диссертационной работы изложена на 90 страницах, содержит 7 таблиц, 2 рисунка и 2 формулы.

This study investigates relationship marketing by estate agencies in the residential property market of South Africa. In determining the residential estate agency's knowledge of relation­ ship marketing, an extensive literature study was undertaken on the marketing environment and broader market, marketing concept, market segmentation and target marketing, the marketing mix and expansion thereof, as well as customer service and internal marketing. An empirical study was conducted to determine the residential estate agency's present knowledge and practices of the basic components of relationship marketing. In the study a structured questionnaire was mailed to all residential estate agencies which are members of the Estate Agency Affairs Board. The most significant findings are that: the majority of respondents do not have mission statements and do not know what a mission statement is; they set marketing objectives which are communicated to the agents; when appointing new agents they consider the agent's service orientation and ability to work with clients, but qualifications and previous experience are not viewed as important; they train estate agents themselves and emphasise after-sales contact and building of long-term relationships, but do not stress customer behaviour influences; a large percentage do not conduct competitor analyses and view marketing research as unimportant, but are of the opinion that they have superior market knowledge and offer the best service quality; they regard the principles of the marketing concept as important; they engage in a large number of after-sales services, although few realise that contact after occupation is important; they regard the buyer's financial means as important and engage in activities to ensure customer service, but do not have formalised feedback systems to test customer satisfaction; they engage in internal marketing activities, strive to create a positive corporate culture and try to retain good agents. In conclusion it can be said that there is evidence that the principles of relationship marketing are followed by residential estate agencies in South Africa. There are, however, concerns about the long-term commitment of estate agencies towards their clients because of the lack of feedback systems and the lack of in-depth knowledge of the market. / Business Management / D. Comm (Business Management)