World of Real Estate Journal 103 (1/2018) - Table of Content

VALUTION

1) Ewa Kucharska-Stasiak - Traditional or Alternative Real estate Valuation Methods
2) Robert Zygmunt - Theoretical and Practical Basis of Forest Land Valuation with Elements of Property Revenue Approach

MARKET

3) Katarzyna Konowalczuk - Households Investments in the Residential Real Estate Market
4) Sebastian Kubala - Evolution of Agricultural Land Market in Visegrad Group Countries with Regard to Legal Aspects of Land Purchasing

MANAGEMEMENT

5) Adam Nalepka - Structural Analysis of Property Management Services Market
6) Andrzej Muczyński - Organizational Model of Municipal Housing Stock Management

REAL ESTATE MANAGEMEMENT

7) Anna Miklaszewska - The Significance of International Standards in the Real Estate Sector in the Era of Sustainable Development

CHANGES IN REAL ESTATE LAW

8) Maciej J. Nowak - Change of financial results of adopting zoning plans DOWNLOAD

SUMMARIES

Ewa Kucharska-Stasiak - Traditional or Alternative Real estate Valuation Methods

There are two categories of methods in real estate valuation: traditional methods, widely used, and so-called alternative methods using statistical models. The latter category of methods is becoming more and more popular not only among valuers but also among recipients of valuations. The objections they raise resulted in a ban for their use to secure claims at the level of the European Union. The article justifies, on the basis of economic knowledge, the inaccuracy of using these methods in valuation of an individual property.

Keywords: property valuation, mathematization of economics, automatic valuation models

JEL Classification: K25, R39

Category of the paper: review article

CITATION (APA): Kucharska-Stasiak, E. (2018). Tradycyjne czy alternatywne metody wyceny. Świat Nieruchomości, (1(103)), 7-12.

DOI: 10.14659/worej.2018.103.01

Robert Zygmunt - Theoretical and Practical Basis of Forest Land Valuation with Elements of Property Revenue Approach

The article presents forest land valuation elaborated by means of property revenue approach. The research was conducted using data from years 2010-2012 taken from a selected forest division located in The Beskid Mountains. Forest land value of the mountain forest habitat was estimated at 10,300.00 [PLN/ha]. It is 0.8 of the average price of agricultural land from the area. Forest land value divided by a model stand value (aged 45-110 years) equals 0.7 to 0.1 and forest land value divided by actual stand value – 0.7 to 0.2. From the practical point of view, calculation of the permanent curves of forest land value based on more extensive data and their application instead of tax rates would make the calculation of forest land value more realistic.

Keywords: forest land value, forest property valuation

JEL Classification: Q23

Category of the paper: research article

CITATION (APA): Zygmunt, R. (2018). Podstawy teoretyczne i praktyczne wyceny gruntów leśnych z zastosowaniem elementów podejścia dochodowego. Świat Nieruchomości, (1(103)), 13-20.

DOI: 10.14659/worej.2018.103.02

Katarzyna Konowalczuk - Households Investments in the Residential Real Estate Market

The residential real estate market is the place of capital placement for various entities, including households. It not only allows meeting the housing needs of households, but also enables investment of available funds. In the article, the author examines the scale and profitability of household investments in this real estate segment, based on transactions recorded in GZM Metropolis in the years 2004-2016.

Keywords: real estate market, investments, households

JEL Classification: R21, R31

Category of the paper: research article
 
CITATION (APA): Konowalczuk, K. (2018). Inwestycje gospodarstw domowych na rynku nieruchomości mieszkaniowych. Świat Nieruchomości, (1(103)), 21-28.

DOI: 10.14659/worej.2018.103.03

Sebastian Kubala - Evolution of Agricultural Land Market in Visegrad Group Countries with Regard to Legal Aspects of Land Purchasing

The countries included in the Visegrad Group are characterized by a diversified agricultural level, which determined when the so-called transition period for the acquisition of agricultural land by foreigners would cease. The main purpose of the article was to identify the processes taking place in individual countries belonging to the Visegrad Group within the scope of changes occurring on these markets in terms of the importance of the land resources as well as to carry out a review to the legal aspects of agricultural land acquisition by foreigners. It was found that the end of the transitional periods in the Visegrad countries does not impact the decrease of agricultural land prices within the national markets. The research is based on an analysis of legal regulations as well as analysis of statistical data from the Eurostat databases, IERiGŻ-PIB reports and statistical reports by offices of statistics of the studied countries.

Keywords: restitution, land prices, transitional period, European Union

JEL Classification: Q15, Q18

Category of the paper: research article

CITATION (APA): Kubala, S. (2018). Kształtowanie się rynku gruntów rolnych w państwach Grupy Wyszehradzkiej z uwzględnieniem prawnych aspektów nabywania ziemi. Świat Nieruchomości, (1(103)), 29-36.

DOI: 10.14659/worej.2018.103.04

Adam Nalepka - Structural Analysis of Property Management Services Market

Commercial property management by owners often does not bring satisfactory results, either real or financial ones. This prompts them to look for specialised companies that they could outsource the management of their property to. The rising demand for property management services generates a demand for property management services and is the reason behind emergence and development of specialised companies which would provide supply of such services. Real estate owners and management companies are the essential elements of the property management services market. A more thorough analysis of this phenomenon leads to the identification of a third, important element of this market, namely enterprises that offer support services to property management companies.  
On the Polish market, it seems that there is still a shortage of companies that could manage their properties efficiently and comprehensively under commission by owners. There is also a shortage of enterprises able to provide appropriate services supporting property management. This results in the undersupply of companies providing professional property service, thus property management is still an attractive area for entrepreneurship.
The basic research goal, implemented in the study, is to define the subjective, objective and functional scope of the property management services market.

Keywords: property management; property management services market; market of  services supporting property management

JEL Classification: L32, L85, O18

Category of the paper: review article

CITATION (APA): Nalepka, A. (2018). Analiza strukturalna rynku usług zarządzania nieruchomościami. Świat Nieruchomości, (1(103)), 37-42.

DOI: 10.14659/worej.2018.103.05

Andrzej Muczyński - Organizational Model of Municipal Housing Stock Management

This present work discusses the problem of organizational model identification of the municipal housing stock management carried out in accordance with the assumptions of the indirect system. The method of source (organizational) documentation analysis and open interviews with the management and employees of the relevant organizational units of the municipality as well as private property managers of housing communities were applied. Exploration of the model was made using the Hijmans' competence tables technique. The obtained model creates the ground for detailed studies leading to improvement of the efficiency of the executive system related to the functioning of the municipal housing stock.

Keywords: management organization, indirect system, municipal housing stock

JEL Classification:  L32, L85, O18

Category of the paper: research article

CITATION (APA): Muczyński, A. (2018). Model organizacyjny zarządzania zasobami lokalowymi gminy miejskiej. Świat Nieruchomości, (1(103)), 43-52.

DOI: 10.14659/worej.2018.103.06

Anna Miklaszewska - The Significance of International Standards in the Real Estate Sector in the Era of Sustainable Development

In the article the Author addresses the problem of the increasing role of international standards and the real estate market as factors stimulating national and local economic growth. The conducted analysis aims at assessing the scope of implementation and benefiting from the implementation of standards functioning in the conditions of the contemporary real estate market. The research results will be a preliminary assessment of the scope of implementation and benefiting from the implementation of standards functioning in the conditions of the contemporary real estate market in the context of sustainable development.

Keywords: real estate sector, international standards, sustainable development

JEL Classification: R3, Q4, Q5

Category of the paper: review article

CITATION (APA): Miklaszewska, A. (2018). Znaczenie norm i standardów międzynarodowych w sektorze nieruchomości w dobie zrównoważonego rozwoju. Świat Nieruchomości, (1(103)), 53-58.

DOI: 10.14659/worej.2018.103.07

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