Hidden Public Value Identification of Real Estate Management Decisions

Abstract

Seeing as how cities nowadays have to face many challenges (such as: urban traffic management, revitalization, and adaptation to climate change.), different kinds of urban policies and actions are undertaken. Many of these actions result in changes that influence real estate, mostly by improving the conditions of public services. However, implementation of such urban policies is connected with significant costs that have to be covered by public funds. Therefore, the question arises how we can analyze the assumed benefits from the increase of real estate value? Which tool could allow stakeholders to search for potential added value? The aim of this paper is to present the methodological approach to improving the communication between stakeholders for the visualization of relations between public actions and potential benefits. The analyses cover benefits that can occur both in public and private budgets. The focal point of this paper is the presentation of causal loop diagrams as a tool that could be incorporated for public value identification on specific investments. The application of the suggested approach is visualized on two examples of urban redevelopment activities. Causal loop diagrams are prepared for the construction of a metro system and implementation of a water retention facility. The results show that both types of urban redevelopment actions have an impact on the creation of value, which can be observed both in public and private benefits. However, not all kinds of activities impact an increase in the market value of real estate and can be measured as incomes in budgets.

Towards Transit‑Oriented Development for Sustainable Urban Mobility: Insights from a Central European City

“…In that sense, the study constitutes an approach to support better decision making for sustainable development [42,43], which is an important tool in public transport management [44,45]. Such activity is in line with local policies in many cities aiming to increase the role of public transport in urban mobility [46,47] and as a side effect also increase the value of real estate [48,49]. The proposed research concept also corresponds with other studies conducted in Polish conditions on different transportation modes and their relation to sustainable cities [50][51][52][53][54][55].…”

The Profile of Portuguese People when Choosing an Apartment

“…In the future, we intend to study the plausibility of the measurement model in a study adjusted to groups such as men and women, different age groups, different income levels and different levels of education. It will also be interesting, regarding future investigation, to study if the evaluation models present all available information, or if they suffer impacts of hidden information, as studied by Kazak et al (2019). Still another aspect to develop is to study whether social housing, increased by public entities, corresponds to the expectations of the clusters to which it is directed, or if it moves away from good locations to places of cheap land.…”

Value-Based Management for Real Estate Developers’ Activities

“…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).…”