Świat Nieruchomości 2020 nr 2 (112) - SPIS TREŚCI

Purpose - to show the character of the private student housing market and to assess the development potential of this market in Poland from the perspective of the local Tri-City market.

Design/methodology/approach - in the course of achieving the objective of the article, student PBSA (Purpose Built Student Accommodation) market in Europe and Poland was presented. On this basis, factors that may have an impact on the development of the private PBSA market in Tri-City were identified and analysed. In the article the following methods have been used: deductive inference, simple statistical methods, and the internal rate of return (IRR) method.

Findings - conducted analyses show that the prospects for the development of the market of private PBSA in Tri-City are good. This is demonstrated by the dynamic increase in the number of foreign students, the low standard of much of public PBSA and the relatively low rate of the number of beds to the number of full-time students, indicating the existence of a supply gap. A positive element that should stimulate the development of this market are relatively high rates of return on investment in PBSA in Tri-City.

Research limitations - rents in private PBSA are much higher than in public PBSA. For this reason, it should be analysed whether students of Tri-City universities would be able to afford higher prices in exchange for better living conditions offered in private PBSA. The study did not address the topic of student accommodation preferences.

Research implications - conducted research concerns the development potential of the private PBSA market. It indicates factors which can stimulate it, but also those that can slow it down. Such knowledge may be useful to investors who want to realize such investments in Tri-City.

Keywords: student housing market; PBSA; investment; universities

JEL codes: G11; I22; R31;

Article type:   review article

CITATION (APA): Kowalke, K., Nowak, J. (2020). Private Student Housing Market - Current State and Development Prospects on the Example of the Tri-City Market. World of Real Estate Journal, 112(2), 4-19.

DOI: https://doi.org/10.14659/WOREJ.2020.112.01

Purpose - The aim of the article is to identify the phenomenon of undeveloped land in the city downtown and therefore fill the gap in the recent urban land literature, likewise to provide recommendations to local authorities how to tackle with the idle land problem.

Design/methodology/approach - The data of landed property sales transactions are examined in downtown Katowice during the years of 2003-2017, paying special attention to changes in land use after the purchase. The researched period of 14 years is characterised by strong transformation of city’s landscape and its surrounding, that is creating Upper Silesian Agglomeration, and then formal structure of GZM Metropolis (Upper Silesian and Zagłębie Metropolis). Applying the case study method for city description, it is seen, that numerous public and private investments have contributed to a strong reduction in land supply and densification of downtown Katowice. The literature review bases on the specificity of the land market in the city centres.

Findings - The study shows that corporations are the main player on the land market in downtown Katowice. 35% of the number of purchased land stays undeveloped, of which 81% of land remains undeveloped for over a period of 3 years.

Research limitations - As the study is the introduction to the topic, it contains basic descriptive statistics regarding landed property prices, transaction parties, and changes in land use. As the research focus on Katowice downtown it does not take into account possible liaisons with other cities that constitutes metropolitan area.

Research implications - Recommendation to local authorities are the following: to levy taxes on vacant land, execute perpetual usufruct contracts, establish spatial development plan for whole area of the city, change an attitude to the investors for less liberal attitude and with greater emphasis on spatial order of city.

Keywords:    undeveloped land, spatial order, urban land market, monopolistic location

JEL codes:    R30

Article type:    case study

CITATION (APA): Reyman, K. (2020). Changes in the Use of Urban Land on the Example of Katowice Downtown in Years 2003-2017. World of Real Estate Journal, 112(2), 20-39.

DOI: https://doi.org/10.14659/WOREJ.2020.112.02

Purpose - to determine the impact of selected materials and maintenance strategies at the building exploitation stage on the building's service life and to present the influence of LCCA analyzes and the decision making process on future building durability.

Design/methodology/approach - the authors conducted a variant analysis of the estimated service life and building construction and maintenance costs under different scenarios for the selected residential building with the commercial part; the estimated service life (ESL) indicator method and a simple approach to the life cycle costs analysis (LCCA) were used in the research.

Findings - the results indicate the following suggestion for the investor – if he (at the decision-making stage) considered more expensive material solutions and then took into account the service time and costs of future renovations, would probably choose variant II - high quality of the materials building; the variant II has the longest estimated service life of 60 years (together with III), but significantly lower construction and maintenance costs; the analyzed variants were also intended to show the necessity to carry out cost-time analyzes at the initial stage of construction of the facility.

Research limitations - the research was limited to an example building and three different construction and service life scenarios

Research implications -  there is a need to carry out cost-time analyzes at the initial stage of construction of the facility - the investor at the decision-making stage must consider material solutions and then took into account the service time and costs of future renovations etc.

Keywords:    maintenance strategies; service life; life cycle cost analysis; exploitation process; buildings durability

JEL codes:    D81, R21

Article type:    case study

CITATION (APA): Zima, K., Wieczorek, D., Przesmycka, A. (2020). Impact of the Selected Building Maintenance Strategy on Costs and Service Life. World of Real Estate Journal, 112(2), 40-57.

DOI: https://doi.org/10.14659/WOREJ.2020.112.03

Design/methodology/approach - The analysis was conducted based on the dataset from Eurostat database for 2018 and 2019. The scope of data includes variables measuring business digitization and use of e-commerce by real estate companies in 20 countries of the European Union. Data analysis was conducted in two stages: first, using multidimensional analytical tools and second, estimating synthetic measure.

Findings - The main conclusions lead to the statement that the use of modern technology solutions by real estate companies varies across the European Union and is largely derived from the degree of digitalization of society and the economy as a whole.

Research limitations - are due to data gaps and the omissions in reporting of companies with less than 10 employees, which are a significant part of the real estate industry. This limitation raises the need for further research, especially among small real estate businesses.

Keywords:    social media, cloud computing, big data, e-commerce, technology, real estate industry, European Union countries

JEL codes:    O330; L810; L850; L860;    

Article type:    research article

CITATION (APA): Małkowska, A. (2020). How Technology Impact the Real Estate Business – Comparative Analysis of European Union Countries. World of Real Estate Journal, 112(2), 58-81.

DOI: https://doi.org/10.14659/WOREJ.2020.112.04

Purpose - The purpose of the article is to conduct a multi-criteria analysis of the BIM project documentation usage in the field of planning the implementation of a multi building design on the example of a specific project.

Design/methodology/approach - The collisions in the IFC model were verified in Tekla BIMsight software. The cost estimation and the construction works schedule of the planned investment were prepared in a software enabling the bill of quantities and the cost estimation creation in accordance to the BIM philosophy assumptions. BIMestiMate version 4.1 made by Datacomp company was used.

Findings - Based on the BIM model analyzed in this work, several conclusions were noted. Cost analysis using 3D, 4D or 5D models has many advantages over the analysis based on 2D documentation. Despite not the highest level of detail in the model, a collision analysis along with verification of the IFC file correctness, as well as the planned investment costs estimation were carried out for analyzed project.

Research limitations - The findings of this study have to be seen in light of some limitations. The primary limitation is that the study is based on the only one example. For the purpose of the results generalization, further studies are needed.

Research implications - Construction investors and developers can be informed through our study about the advantages of BIM software usage during the building investment planning process.

Keywords:    BIM; development investment; multi-family residential area

JEL codes:    R330; L740; O310

Article type:    research article

CITATION (APA): Grącki, J., Wieczorek, D., Plebankiewicz, E. (2020). Multi-Criteria Analysis of the BIM Documentation Usefulness in the Field of Planned Multi-family Residential Area – Case Study. World of Real Estate Journal, 112(2), 82-96.

DOI: https://doi.org/10.14659/WOREJ.2020.112.05