The development of the housing markets in different European metropolitan areas is of high interest for the urban development and the real estate markets, which are moving towards globalisation. The Budapest housing market is an ideal candidate for scrutiny from an institutional and evolutionary perspective due to its fragmented nature: different house types, age categories, price levels and micro-locations are found side by side. This is a case in between' Eastern and Western settings, with its own distinctive path dependence - its development pattern does not resemble any other system. The study comprises an innovative economic analysis of the Budapest housing market structure. Applying the self-organising map and the learning vector quantification sheds light on how physical and socio-demographic characteristics, price and regulation are related in this market.
Urban sustainability has become a political and social agenda of global significance, of which real estate is an integral dimension. Sustainable urban development includes much more than ‘green building’ standards, yet in practice, other aspects such land use plans and locations are often overlooked. This book demonstrates that the issue of sustainable development stretches far beyond the hitherto dominating agenda based on ‘green’ (i.e. environmentally and ecologically sustainable) buildings. In doing so, it presents a novel framework based on the concept of economic sustainability of real estate locations, drawing connections with the global financial crisis and housing price bubble discourse. It argues for the need to better integrate social, cultural and economic dimensions into the real estate sustainability agenda. It also explores the role of location, and especially the image aspect therein. Trends in consumer choice are important to the way these dimensions are appreciated in decisions about investment, development, valuation and other activities of the production, consumption and governance of the built environment. This book will be of interest to private and public sector practitioners of real estate valuation as well as scholars of urban studies, geography, economics, urban planning and environmental studies.
This book describes and analyses two dialogic network practices: 'Open Dialogues' - developed for use in psychiatric crisis situations - and 'Anticipation Dialogues' - used in less acute situations such as multi-agency muddles where the helper systems are stuck. The book is both theoretical and detailed enough for practitioners who wish to apply the approaches to their work. It is meant for professionals in the fields of psycho-social work - including therapists to day care personnel, social workers to school teachers, - researchers, and academics. As the book touches upon dialogues with and within private networks, the book reaches out to clients, too.
This book provides a comprehensive summary of the latest academic research on the important topic of too-big-to-fail (TBTF) in banking. It explains TBTF from various perspectives including the range of regulatory measures proposed to counter TBTF, most notably the globally accepted regulation of global-systemically important banks (G-SIBs) and its main tool of capital surcharges. The empirical analysis quantifies the shareholder value of the G-SIB attribution by using quarterly observations from more than 750 global banks between Q2 2008 and Q3 2015. The main finding is that G-SIBs are confronted with a substantial relative valuation discount compared to non-G-SIBs. From the end of 2011 until the end of 2015, a stable discount of 0.6x–0.8x price-to-tangible common equity (P/TCE) is statistically highly significant. The results suggest that the G-SIB designation effect, which positively impacts G-SIBs’ share prices because of funding benefits from IGGs, is dominated by the regulatory G-SIB burden effect, which negatively impacts G-SIBs’ share prices because of lower profitability due to capital surcharges and other regulatory requirements placed on G-SIBs. The findings re-open the debate about whether breaking up G-SIBs would unlock shareholder value and whether G-SIBs are regulated efficiently.
Urban sustainability has become a political and social agenda of global significance, of which real estate is an integral dimension. Sustainable urban development includes much more than ‘green building’ standards, yet in practice, other aspects such land use plans and locations are often overlooked. This book demonstrates that the issue of sustainable development stretches far beyond the hitherto dominating agenda based on ‘green’ (i.e. environmentally and ecologically sustainable) buildings. In doing so, it presents a novel framework based on the concept of economic sustainability of real estate locations, drawing connections with the global financial crisis and housing price bubble discourse. It argues for the need to better integrate social, cultural and economic dimensions into the real estate sustainability agenda. It also explores the role of location, and especially the image aspect therein. Trends in consumer choice are important to the way these dimensions are appreciated in decisions about investment, development, valuation and other activities of the production, consumption and governance of the built environment. This book will be of interest to private and public sector practitioners of real estate valuation as well as scholars of urban studies, geography, economics, urban planning and environmental studies.
The development of the housing markets in different European metropolitan areas is of high interest for the urban development and the real estate markets, which are moving towards globalisation. The Budapest housing market is an ideal candidate for scrutiny from an institutional and evolutionary perspective due to its fragmented nature: different house types, age categories, price levels and micro-locations are found side by side. This is a case in between' Eastern and Western settings, with its own distinctive path dependence - its development pattern does not resemble any other system. The study comprises an innovative economic analysis of the Budapest housing market structure. Applying the self-organising map and the learning vector quantification sheds light on how physical and socio-demographic characteristics, price and regulation are related in this market.
Securing the future of the human race will require an improved understanding of the environment as well as of technological solutions, mindsets and behaviors in line with modes of development that the ecosphere of our planet can support. Some experts see the only solution in a global deflation of the currently unsustainable exploitation of resources. However, sustainable development offers an approach that would be practical to fuse with the managerial strategies and assessment tools for policy and decision makers at the regional planning level. Environmentalists, architects, engineers, policy makers and economists will have to work together in order to ensure that planning and development can meet our society's present needs without compromising the security of future generations. Better planning methods for urban and rural expansion could prevent environmental destruction and imminent crises. Energy, transport, water, environment and food production systems should aim for self-sufficiency and not the rapid depletion of natural resources. Planning for sustainable development must overcome many complex technical and social issues.
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