Purpose -The purpose of this paper is to identify and systematise the factors in selecting a location for various real estate types (especially industrial, housing, retail, and office). Design/methodology/approach -Following an extensive literature review, this paper analyses numerous factors and conditions to describe the decision-making process in locating various real estate types. Relevant literature from 1956 to 2012 was systematically collected and classified on the basis of structural attributes such as problem context (location and its meaning), methodology, and the general and site location factors considered. The literature also was categorized according to the geographic region and year of publication. A structured literature review analyses published studies, evaluates contributions, summarises knowledge and identifies managerial implications and lines for further research. Findings -The ultimate location and site selection for real estate are based on a combination of various factors and criteria. The determinants that entities may evaluate when locating a business most typically depend on the industry and the nature of the enterprise. Depending on the enterprise and its operations, some location decisions are absolutely dependent on specific location parameters; others may not be subjected to such constraints, but must meet conditions the investor considers important (location advantages). Furthermore, location determinants are not constant, but change over time according to changes in local law, regulations, and/or market conditions. Over the past few decades, a growing number of new factors have emerged that decision makers and researchers previously ignored, such as freedom from pollution, employees' quality of life, and so on. Still other businesses consider relocation when cost factors lower their competitiveness.Research limitations/implications -The identification and classification of factors affecting location of real estate primarily systematises the existing knowledge and provides a starting point for further research on optimising real estate location from a company value-management perspective. At this stage, the research does not constitute a basis to rank to individual factors. Practical implications -This paper can be a resource for corporate real estate managers, offering guidelines for making decisions on the best location for various types of real estate. The findings of this literature review may also help leaders anticipate potential location barriers and follow best practices for addressing these impediments. Originality/value -This paper summarises knowledge and provides the first systematic review of literature related to factors affecting the choice of location for real estate. Most papers focus on microeconomic factors of different real estate types. A need was identified for a detailed comparison of all factors (also macro) affecting general and site location decisions, indicating how decisions have changed over time. This review fills this gap in the literature, provides ...
The main purpose of the paper is to present some of the mechanisms connected with the functioning of the Polish housing market, with due regard to demand and supply volatility as well as the changing financial conditions at the time of the global financial crisis of the first decade of the present century. Special attention is given to the financial and legal regulations concerning the housing market, which were introduced in response to the economic downturn. On the basis of research conducted by the authors, as well as available reports and statistics for 2007-2013, the article will explore market phenomena (the size and pattern of demand, supply and prices on the housing market, and the changes they undergo) on the one hand, and the legal and financial regulatory changes directly affecting them, on the other. It will also study the effects of the implementation of the recommendations made by the Polish Financial Supervision Authority (KNF) by banks in the wake of the global financial crisis. These cause banks to tighten their credit policies and, accordingly, have an impact on their loan portfolios. Information from secondary sources has also been used, notably from the Central Statistical Office (GUS), the KNF, the National Bank of Poland (NBP), as well as the Polish Bank Association (ZBP) and the Credit Information Bureau (BIK). Changes that occurred during the period of economic crisis in the availability of housing have also been examined.
The paper presents the functioning of the Polish residential real estate market from the perspective of the construction and financial sectors. Developers operating on a dynamic market must respond quickly and flexibly to the changes occurring on the market, e.g., at the growth stage they should be increasing their investment portfolios, while during the slowdown stage they should be taking measures to maintain the scale of their business, or be reducing the price of the developed area. The paper also shows the involvement of the banking sector in financing the real estate market, which affects majorly the dynamics of the real estate market development.
The main topic assumed in the article are investments in the real estate market, with particular consideration given to their scale and changes in the directions of investing in the context of a dynamically changing geopolitical and economic situation throughout the world. This is seeing as how the activity of investors reflects the need and preferences of various groups of buyers and users of built surfaces, while accounting for the risk accompanying investment decisions as well as the widely understood operating conditions. Constant observation and monitoring of these phenomena, their dynamics as well as structural changes is a remarkably important and very needed study, both as far as science and practical application are concerned, as it allows for the processes taking place to be tracked, while their informational value is more valuable the more uncertain the market and more difficult it and the behaviors of its participants are to predict.The work uses the newest available reports and analyses of the largest auditors dealing with worldwide and global real estate markets, such as: JLL, Colliers International, CBRE, Cushman&Wakefield, KPMG, World Economic Forum, or Savills and UBS Group Ag.The aim of the work is the synthetic analysis of changes and directions of investing on the real estate market on a global scale, in the context of the newest political-economic situations throughout the world.
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