Comparation of the Economic Cycle on Labour Market in the Construction Industry and in the National Economy of the Czechia

Kadeřábková, Božena; Jašová, Emilie

doi:10.14311/cej.2020.03.0024

Cited by 6 publications

(4 citation statements)

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“…Kaderabkova in this regard examines wage inflation in different regions in relation to labor productivity which falls behind and concludes that the trend of wage inflation might further increase rents and real estate prices, making own housing further less affordable [14,15]. Rising energy prices are reflected not only in the cost of energy consumption in households, but also in the prices of building materials and construction work [16]. Construction is a sector that consumes a significant amount of energy produced as quantified by Schneiderova-Heralova [17] or Karasek [18] thus energy prices create pressures at the supply side of property market [19].…”

Section: Literature Reviewmentioning

confidence: 99%

Change in the Affordability of Owner-Occupied Housing in the Context of Rising Energy Prices

Čermáková

Hromada

2022

Energies

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Household energy constitutes an important share of affordable housing. Unaffordable housing and inadequate household energy represent a new dimension of poverty. Connections between energy, housing affordability and well-being are still under-researched. Building on housing affordability framework, this study explores the magnitude in changes in affordability of acquisition and use of an apartment between January 2018 and January 2022. Over the last four years, the real estate market in Europe has changed significantly. This paper deals with primary data for the Czech Republic, where acquisition prices of residential real estate increased depending on the region in the range of 50 to 120%. Since January 2022, there has been a sharp rise in energy prices and a tightening of conditions for the acquisition of mortgage loans. All these factors affect the standard of living in the Czech Republic. The article quantifies the magnitude of this change by calculating shares of total housing costs to total average net household income for the period January 2018 and January 2022. It is found that the affordability of owner-occupied housing in the Czech Republic has deteriorated and part of the middle class will be forced to move to the rental housing sector, multifamily housing and sharing. Finally, we argue that energy poverty needs to be considered in addressing the government housing policies. The aim of the article is to analyze the changes that have taken place in the real estate market over the last four years in relation to the growth of total housing costs and energy costs associated with housing.

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Section: Literature Reviewmentioning

confidence: 99%

Change in the Affordability of Owner-Occupied Housing in the Context of Rising Energy Prices

Čermáková

Hromada

2022

Energies

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“…Construction industry is very sensitive to increase of price of inputs and labour costs (Kaderabkova, Jasova, 2020;Hromada, Cermakova, 2021) and has experienced a substantial decline during Covid-19. In this regards Jasova (Kaderabkova, Jasova, 2021) confirms that construction industry suffered from outflow of immigrant workers and low support payments from the government.…”

Section: Valuation Of Construction Costs and Rough Restoration Planmentioning

confidence: 99%

Advances in costs optimization methods – key study of maintenance and restoration of cultural heritage

Pojar¹,

Macek²,

Heralová³

et al. 2022

IJOES

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The article deals with the issue of restoration and care of cultural heritage buildings in the Czech Republic. The content is focused mainly on the topic of valuation of construction works. Obtaining quality documents is very important for planning reconstruction and maintenance works on a building of cultural heritage. Proper and timely maintenance work is the key to maintaining the value of the building and increasing its viability. The tool for assessing the economic sustainability of an immovable cultural heritage is a life cycle cost analysis carried out on the basis of relevant input data on the technical parameters of the building, structural elements and equipment, the time period of the occurrence of costs related to them. The analysis becomes an important basis for decision-making by the owner, the designer and the future user on choosing the optimal variant of the technical solution for restoration, also with regard to ecological aspects, cultural and historical value and long-term economic consequences.

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“…As authors [6] find, the value added in the construction sector behaves very procyclically with sectoral unemployment anticipating the upward trend of overall unemployment rate in the economy in bad times but lags behind in good times. Workers in the construction industry are significantly more vulnerable to unemployment throughout the economic cycle than workers in other industries [7]. As the construction sector is very sensitive to institutional shocks [8], legal framework and other institutional factors can help sustain the construction sector stability throughout the economic cycle [9].…”

Section: Introduction 1construction's Life Cycle Costs (Lcc)mentioning

confidence: 99%

Residential Construction with a Focus on Evaluation of the Life Cycle of Buildings

et al. 2021

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The article focuses on highlighting the role of life cycle costing (LCC) in the preparatory and implementation phase of residential projects. It involves the evaluation of several investment scenarios in the pre-investment phase, the choice between variants of the design of the entire building or its parts, and the choice of variants of structures and equipment with acceptable parameters. An innovative method of evaluating the life cycle of buildings is described in the article. This method was tested in selected residential projects realized by Skanska in the Czech Republic. Experience from construction practice shows that the choice of variants, constructions, or equipment of buildings only on the basis of the lowest acquisition costs (lowest bid prices) is wrong. The LCC calculation tool has been designed to model life cycle costs of individual variants of construction designs with different input parameters. It is possible to analyze the components or equipment that have the greatest impact on total life cycle costs. The article presents a tool that evaluates the long-term economic efficiency of the proposed residential buildings in terms of analysis of life cycle costs. The article will also expand the knowledge of the professional and general public about the importance of examining investment and operating costs already in the phase of construction preparation.

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Comparation of the Economic Cycle on Labour Market in the Construction Industry and in the National Economy of the Czechia

Cited by 6 publications

References 1 publication

Change in the Affordability of Owner-Occupied Housing in the Context of Rising Energy Prices

Change in the Affordability of Owner-Occupied Housing in the Context of Rising Energy Prices

Advances in costs optimization methods – key study of maintenance and restoration of cultural heritage

Residential Construction with a Focus on Evaluation of the Life Cycle of Buildings

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