Coherent Land Policy and Land Value

Krajewska, Małgorzata; Pawłowski, K.

doi:10.7494/geom.2019.13.4.33

Cited by 14 publications

(11 citation statements)

References 7 publications

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“…The issue of proper control of real estate development process is especially important taking into account pressure of both local (Źróbek, et al, 2014) and national (Stacherzak, et al, 2019) administration systems in order to redevelop land, reflected also in imbalance between supply and demand on real estates (Foryś & Kazak, 2019;Broża, et al, 2020). High level of interest in proceeding redevelopment activity (Bieda, 2017) may affect inaccurate assessment of real estate development and created value (Kazak, et al, 2019;Krajewska & Pawłowski, 2019).…”

Section: Discussionmentioning

confidence: 99%

Value-Based Management for Real Estate Developers’ Activities

Kowalski

Kazak

2020

Real Estate Management and Valuation

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Real estate development investments are characterized by a high value of projects, which in the event of irregularities in their implementation may result in significant losses for the economy. The lack of tools enabling ongoing control of real estate developers may result in disruptions in the operation of business entities on the real estate market, affecting the proper functioning of many stakeholders. The article proposes a method of measuring value for real estate companies. Accounting principles that regulate financial statements specify that they cannot be used directly to measure the value of a developer. The article proposes examples of corrections to financial statements supporting value measurement. When calculating value management measures, (i) adjustments excluding the impact of asset valuations, (ii) adjustments of settlement negative EVA of the investment phase, (iii) adjustments of advance payment of NPV of the project, and (iv) adjustments of excluding the impact of interest on foreign capital should be made. Examples of using these adjustments in a short-term housing project and a long-term commercial project were presented. The impact of the proposed adjustments on the comparison of formal financial statements and value measures for a large developer listed on the WSE was also discussed.

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Section: Discussionmentioning

confidence: 99%

Value-Based Management for Real Estate Developers’ Activities

Kowalski

Kazak

2020

Real Estate Management and Valuation

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“…It is also worth noting that the authors present a clear summary of recent literature reviews on aircraft noise and its impact on property prices. Krajewska and Pawłowski [47] analysed a case study of transaction prices of non-developed land located near the Bydgoszcz airport-Szwederowo. The studies show that the location of real property in an impact area of airport noise was not an obstacle and did not limit the market turnover of real property which remained under the unfavorable influence of this factor.…”

Section: Literature Reviewmentioning

confidence: 99%

The Impact of Airport Proximity on Single-Family House Prices—Evidence from Poland

2020

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Airports in Poland are obliged to observe the sustainable development principle and therefore to reduce their environmental impact by creating so-called limited use areas (LUA) related to aircraft-generated noise. The research authors analyzed airports’ impact on the prices of single-family homes located in the vicinity of airports. The LUA is therefore defined as the area designated to study the airport’s specific impact on the single-family housing market. This is a formal limit which determines the examination of price changes and the decision-making conditions of market participants. This methodical approach is justified because no excessive noise is expected outside the LUA. Therefore, two markets in the vicinity of airports were examined. One is in an LUA which is closer to the airport, and the other market is outside the LUA where external noise effects are not present. Thus, we consider that real estate located outside the LUA is not subject to a significant negative impact from the airport. The study covered the Gdańsk Lech Walesa Airport and the Warsaw Chopin Airport in Poland in adjacent areas with the research time horizon of 2013–2017. The study examined single-family house prices. We used a time series analysis, a classic multiple regression model, a spatial autoregressive model, and geographically weighted regression models in our research. Additionally, Geographical Information System (GIS) tools were used to visualize the results of our study. The research result was to demonstrate different impact levels of airports on the prices of single-family houses located in limited-use areas in Gdańsk and Warsaw. This research carries significant implications for the general public and airports’ economic decisions in resolving conflicts between the airport and residential property owners in airports’ vicinities.

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“…Depending on the geological knowledge of the land plot and the degree of its development, the use of different approaches and methods to assess its value subject to taxation is justified. The regulatory and methodological framework is sufficiently developed and has a certain effectiveness, however, the existing assessment system needs to be improved [16][17][18].…”

mentioning

confidence: 99%

“…At the stages of development and exploitation of a land plot with the presence of minerals, the cost approach to assessment is used as the main one, while at the stage of geological study of the subsoil, other methods are also used. Among the most well-known, it is worth highlighting the method of evaluating participation [14,17], as well as the method of geological ranking, or, as it is called in Russian practice, the method of geological and industrial evaluation of deposits [22,23], which includes qualitative and quantitative indicators of valuable components contained in mineral reserves [24,25]. In addition, scientists A.Bieda, E.Wojczak and P.Pazhich used a SWOT/TOWS analysis, which made it possible to identify cost factors, relationships and the degree of their influence on the cost of land with mineral deposits in Poland on a fivepoint Tilgner scale [26].…”

mentioning

confidence: 99%

“…Collection of initial data. The initial data are the main characteristics of land plots and deposits obtained from the official databases and thematic maps of Rosreestr 16 , territorial planning documents 17 , geographic information systems and data funds of the constituent entities of the Russian Federation and municipalities, data from the geological fund of the Russian Federation 18 and Rosnedra 19 , as well as other sources provided in information systems 20 .…”

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confidence: 99%

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Development of methodology for economic evaluation of land plots for the extraction and processing of solid minerals

Bykowa

Khaykin

Shabaeva

et al. 2023

PMI

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The Russian economy has a pronounced resource specialization; in many regions, subsoil use is a backbone or one of the main areas of the economy. In these conditions, the improvement of the methodology for the economic evaluation of lands on which mining enterprises are located is of particular relevance. On the basis of the existing experience in assessing industrial land, the authors present a developed methodology for determining the cadastral value of land plots where mining enterprises are located, taking into account their industry characteristics and the specifics of production and commercial activities. At the same time, cadastral valuation is considered as a specific form of economic valuation. Particular emphasis is placed on the importance of taking into account the cost factors that have the greatest impact on the formation of the cost of land for the extraction and processing of solid minerals, and the method of assessment depending on the characteristics of the object. To carry out theoretical research, the methods of analysis and synthesis of legal and scientific and technical literature in the field of cadastral and market valuation of land were used in the work. The practical part is based on the application of expert methods, including the method of analysis of hierarchies, system and logical analysis. The method of M.A.Svitelskaya was chosen as the basis, which presents a combination of modified methods of statistical (regression) modeling and modeling based on specific indicators of cadastral value. The use of this technique in economic practice contributes to increasing the efficiency of cadastral valuation and the objectivity of its results.

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Coherent Land Policy and Land Value

Cited by 14 publications

References 7 publications

Value-Based Management for Real Estate Developers’ Activities

Value-Based Management for Real Estate Developers’ Activities

The Impact of Airport Proximity on Single-Family House Prices—Evidence from Poland

Development of methodology for economic evaluation of land plots for the extraction and processing of solid minerals

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