The Influence of the Technical Condition of a Building on the Property’s Market Value

Ziembicka, Beata

doi:10.1515/foli-2016-0012

Cited by 3 publications

(2 citation statements)

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“…From the group of 23 technically examined elements, the 10 elements with the highest share in the building (65% in total) were selected for further analysis- Figure 2. The technical wear degree of these elements has been calculated theoretical way as a function Zt = f(T) [39,[46][47][48][49][50][51] and as a result of building's technical inspections executed by engineering experts.…”

Section: Appl Sci 2021 11 X For Peer Review 7 Of 21mentioning

confidence: 99%

“…In subject literature [12,15,[43][44][45][46][47][48][49][50][51][52], several methods of determining the technical wear degree of buildings were described. In fact, the authors of studies [12,15,43,44,50,51] present the same approach to this issue, except that, due to the non-standardized nomenclature, they use different nomenclature and classifications.…”

Section: Introductionmentioning

confidence: 99%

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Influence of Age on the Technical Wear of Tenement Houses

2020

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The research presented in the article, which includes methods, models, and conclusions, contains synthetic and analytical model solutions concerning the problems of the technical maintenance and wear of residential buildings with a traditional construction. The cause and effect relationships between the occurrence of damage in the elements of tenement houses (treated as proof of their maintenance conditions), and the size of the technical wear of these elements were determined using a representative and purposefully selected sample of 102 residential buildings erected during the second half of the nineteenth and early twentieth centuries in Wroclaw’s “Downtown” district. Quantitative damage analysis, which was carried out using empirical (visual) methods of assessing the technical condition of a building, indicates the type and size of damage to the building’s elements that are characteristic for the relevant maintenance conditions. Research concerning the cause–effect relationships (“damage–technical wear”) in observed states allows for a numerical approach to the impact of building maintenance conditions on the degree of the technical wear of its components. The maintenance and exploitation conditions determine the degree of the technical wear of the elements of an old residential building. The exploitation condition of these buildings is manifested by damage to elements caused by water and moisture penetration, which is especially important for poorly maintained buildings. The article shows that the age of the elements of an old residential building with a traditional construction is of secondary importance in the process of the intensity of losing its serviceability value. It was calculated that no more than 30% of the damage of building components is explained by the passage of time, and it is therefore not age that determines the course of the technical wear of the elements of the analyzed tenement houses.

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Section: Appl Sci 2021 11 X For Peer Review 7 Of 21mentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

Influence of Age on the Technical Wear of Tenement Houses

2020

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Model of the Market Value of Apartments Including a Time Variable and Energy Features of a Building

Foryś

Putek–Szeląg

Ziembicka³

2020

Folia Oeconomica Stetinensia

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Research background: The implementation of EU directives in national legislations imposes an obligation to monitor energy efficiency in every sector of the economy, including construction. In the era of energy conservation, which results from environmental requirements, as well as from constantly increasing energy prices, the energy consumption of premises and buildings becomes an important prerequisite for decision-making processes in the real estate market. There have also been changes in the provisions of the Act on Real Estate Management, which impose an obligation on the professional group of property appraisers to incorporate energy performance certificates for buildings and premises into the valuation process. Energy intensity in terms of the demand for heating of multi-family residential buildings will be the basis for the assessment of its impact on the market value of residential units.Purpose: The article analyses the energy intensity of different types of buildings (e.g. low and high-rise buildings) and the diverse distribution of units in the building, especially with regard to their exposure to the different point of the compass. The research covered the Słoneczne housing estate in Szczecin, in a situation where the property appraiser does not have access to the energy performance certificates of the estimated apartments as well as apartments taken for comparison. The aim of the study is to identify the relationship between energy intensity and market value of residential units on the selected real estate market. The analysis will be based on data from the Price and Value Register of the County Office, a collection of statistics and public information as well as on the authors’ own databases and research.Research methodology: A multidimensional analysis will be used to distinguish homogeneous groups of residential units due to their property attributes. The study will also employ a valuation model including energy intensity and time variables.Results: The study showed that building type is one of the features determining energy consumption by a building. Depending on the period, the introduced attributes explained the evolution of the unit price at 78%, 75% and 24%. The parameters of the variables Size, Neighborhood and Time were found to be statistically significant. What is more, in all three periods, the value of the residential unit was significantly affected by the type of building which determined the energy performance of the building.Novelty: Energy intensity in terms of the heating demand of multi-family residential buildings will be the basis for the assessment of its impact on the market value of residential units. The article analyses the energy intensity of different types of buildings (e.g. low and high buildings) and the different location of units in a building, especially in relation to the directions of the world.

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An Attempt to Determine the Impact of Energy Intensity on the Market Value of Residential Units on the Example of Selected Buildings in Szczecin

Foryś

Putek–Szeląg

Ziembicka

2020

Real Estate Management and Valuation

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Environmental requirements, constantly increasing energy prices as well as energy consumption by residential units and buildings have become an important factor in the decision-making processes in the real estate market. The preferences of residential unit buyers who recognize the problem of energy intensity and translate it into the transaction price have also been changing. However, amendments to the Act on real estate management and new European standards have imposed an obligation to include the certificates of energy performance of buildings and premises on real estate valuers in the valuation process. In this paper, energy intensity understood as the heating requirements of multi-family residential buildings is the basis for assessing the impact of the proposed variants on the market value of residential units. The paper analyzes the energy intensity of various types of buildings (e.g. in low and high buildings) and its impact on the market value of residential units in a selected housing estate in Szczecin, when the property valuer has access to energy performance certificates of neither the unit under valuation nor the units selected for comparison. The purpose of this study is to identify the relationship between the energy intensity and the market value of residential units. The proposed three models of real estate market value: non-classical, multiple regression and average price adjustment taking into account energy intensity, obtain results consistent with the actual transaction price at a satisfactory level. The assessment was made using standard deviation, a coefficient of variation and the average error of forecasts.

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The Influence of the Technical Condition of a Building on the Property’s Market Value

Cited by 3 publications

References 1 publication

Influence of Age on the Technical Wear of Tenement Houses

Influence of Age on the Technical Wear of Tenement Houses

Model of the Market Value of Apartments Including a Time Variable and Energy Features of a Building

An Attempt to Determine the Impact of Energy Intensity on the Market Value of Residential Units on the Example of Selected Buildings in Szczecin

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