809 resultados para housing prices
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In Rangoon/Yangon, the ex-capital city of Burma/Myanmar, there still remain many old buildings today. Those buildings were constructed in the British colonial period, especially from the 1900s to the 1930s, and formed Rangoon's built environment as something modern. In focusing on the period before and after the inauguration of the Rangoon Development Trust in 1921, this paper describes how the colonial administrative authorities perceived urban problems and how their policy and practice affected urban society. It also suggests the possibility that competition for habitation among the lower strata of Rangoon society was a cause of the serious urban riot in 1930.
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Una de las principales líneas de investigación de la economía urbana es el comportamiento del mercado inmobiliario y sus relaciones con la estructura territorial. Dentro de este contexto, la reflexión sobre el significado del valor urbano, y abordar su variabilidad, constituye un tema de especial importancia, dada la relevancia que ha supuesto y supone la actividad inmobiliaria en España. El presente estudio ha planteado como principal objetivo la identificación de aquellos factores, ligados a la localización que explican la formación del valor inmobiliario y justifican su variabilidad. Definir este proceso precisa de una evaluación a escala territorial estableciendo aquellos factores de carácter socioeconómico, medioambiental y urbanístico que estructuran el desarrollo urbano, condicionan la demanda de inmuebles y, por tanto, los procesos de formación de su valor. El análisis se centra en valores inmobiliarios residenciales localizados en áreas litorales donde la presión del sector turístico ha impulsado un amplio. Para ello, el ámbito territorial seleccionado como objeto de estudio se sitúa en la costa mediterránea española, al sur de la provincia de Alicante, la comarca de la Vega Baja del Segura. La zona, con una amplia diversidad ecológica y paisajística, ha mantenido históricamente una clara distinción entre espacio urbano y espacio rural. Esta dicotomía ha cambiado drásticamente en las últimas décadas, experimentándose un fuerte crecimiento demográfico y económico ligado a los sectores turístico e inmobiliario, aspectos que han tenido un claro reflejo en los valores inmobiliarios. Este desarrollo de la comarca es un claro ejemplo de la política expansionista de los mercados de suelo que ha tenido lugar en la costa española en las dos últimas décadas y que derivado en la regeneración de un amplio tejido suburbano. El conocimiento del marco territorial ha posibilitado realizar un análisis de variabilidad espacial mediante un tratamiento masivo de datos, así como un análisis econométrico que determina los factores que se valoran positivamente y negativamente por el potencial comprador. Estas relaciones permiten establecer diferentes estructuras matemáticas basadas en los modelos de precios hedónicos, que permiten identificar rasgos diferenciales en los ámbitos económico, social y espacial y su incidencia en el valor inmobiliario. También se ha sistematizado un proceso de valoración territorial a través del análisis del concepto de vulnerabilidad estructural, entendido como una situación de fragilidad debida a circunstancias tanto sociales como económicas, tanto actual como de tendencia en el futuro. Actualmente, esta estructura de demanda de segunda residencia y servicios ha mostrado su fragilidad y ha bloqueado el desarrollo económico de la zona al caer drásticamente la inversión en el sector inmobiliario por la crisis global de la deuda. El proceso se ha agravado al existir un tejido industrial marginal al que no se ha derivado inversiones importantes y un abandono progresivo de las explotaciones agropecuarias. El modelo turístico no sería en sí mismo la causa del bloqueo del desarrollo económico comarcal, sino la forma en que se ha implantado en la Costa Blanca, con un consumo del territorio basado en el corto plazo, poco respetuoso con aspectos paisajísticos y medioambientales, y sin una organización territorial global. Se observa cómo la vinculación entre índices de vulnerabilidad y valor inmobiliario no es especialmente significativa, lo que denota que las tendencias futuras de fragilidad no han sido incorporadas a la hora de establecer los precios de venta del producto inmobiliario analizado. El valor muestra una clara dependencia del sistema de asentamiento y conservación de las áreas medioambientales y un claro reconocimiento de tipologías propias del medio rural aunque vinculadas al sector turístico. En la actualidad, el continuo descenso de la demanda turística ha provocado una clara modificación en la estructura poblacional y económica. Al incorporar estas modificaciones a los modelos especificados podemos comprobar un verdadero desmoronamiento de los valores. Es posible que el remanente de vivienda construida actualmente vaya dirigido a un potencial comprador que se encuentra en retroceso y que se vincula a unos rasgos territoriales ya no existentes. Encontrar soluciones adaptables a la oferta existente, implica la viabilidad de renovación del sistema poblacional o modificaciones a nivel económico. La búsqueda de respuestas a estas cuestiones señala la necesidad de recanalizar el desarrollo, sin obviar la potencialidad del ámbito. SUMMARY One of the main lines of research regarding the urban economy focuses on the behavior of the real estate market and its relationship to territorial structure. Within this context, one of the most important themes involves considering the significance of urban property value and dealing with its variability, particularly given the significant role of the real estate market in Spain, both in the past and present. The main objective of this study is to identify those factors linked to location, which explain the formation of property values and justify their variability. Defining this process requires carrying out an evaluation on a territorial scale, establishing the socioeconomic, environmental and urban planning factors that constitute urban development and influence the demand for housing, thereby defining the processes by which their value is established. The analysis targets residential real estate values in coastal areas where pressure from the tourism industry has prompted large-scale transformations. Therefore, the focal point of this study is an area known as Vega Baja del Segura, which is located on the Spanish Mediterranean coast in southern Alicante (province). Characterized by its scenic and ecological diversity, this area has historically maintained a clear distinction between urban and rural spaces. This dichotomy has drastically changed in past decades due to the large increase in population attributed to the tourism and real estate markets – factors which have had a direct effect on property values. The development of this area provides a clear example of the expansionary policies which have affected the housing market on the coast of Spain during the past two decades, resulting in a large increase in suburban development. Understanding the territorial framework has made it possible to carry out a spatial variability analysis through massive data processing, as well as an econometric analysis that determines the factors that are evaluated positively and negatively by potential buyers. These relationships enable us to establish different mathematical systems based on hedonic pricing models that facilitate the identification of differential features in the economic, social and spatial spheres, and their impact on property values. Additionally, a process for land valuation was established through an analysis of the concept of structural vulnerability, which is understood to be a fragile situation resulting from either social or economic circumstances. Currently, this demand structure for second homes and services has demonstrated its fragility and has inhibited the area’s economic development as a result of the drastic fall in investment in the real estate market, due to the global debt crisis. This process has been worsened by the existence of a marginal industrial base into which no important investments have been channeled, combined with the progressive abandonment of agricultural and fishing operations. In and of itself, the tourism model did not inhibit the area’s economic development, rather it is the result of the manner in which it was implemented on the Costa Brava, with a land consumption based on the short-term, lacking respect for landscape and environmental aspects and without a comprehensive organization of the territory. It is clear that the link between vulnerability indexes and property values is not particularly significant, thereby indicating that future fragility trends have not been incorporated into the problem in terms of establishing the sale prices of the analyzed real estate product in question. Urban property values are clearly dependent on the system of development and environmental conservation, as well as on a clear recognition of the typologies that characterize rural areas, even those linked to the tourism industry. Today, the continued drop in tourism demand has provoked an obvious modification in the populational and economic structures. By incorporating these changes into the specified models, we can confirm a real collapse in values. It’s possible that the surplus of already-built homes is currently being marketed to a potential buyer who is in recession and linked to certain territorial characteristics that no longer exist. Finding solutions that can be adapted to the existing offer implies the viability of renewing the population system or carrying out modifications on an economic level. The search for answers to these questions suggests the need to reform the development model, without leaving out an area’s potentiality.
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The liberalization of electricity markets more than ten years ago in the vast majority of developed countries has introduced the need of modelling and forecasting electricity prices and volatilities, both in the short and long term. Thus, there is a need of providing methodology that is able to deal with the most important features of electricity price series, which are well known for presenting not only structure in conditional mean but also time-varying conditional variances. In this work we propose a new model, which allows to extract conditionally heteroskedastic common factors from the vector of electricity prices. These common factors are jointly estimated as well as their relationship with the original vector of series, and the dynamics affecting both their conditional mean and variance. The estimation of the model is carried out under the state-space formulation. The new model proposed is applied to extract seasonal common dynamic factors as well as common volatility factors for electricity prices and the estimation results are used to forecast electricity prices and their volatilities in the Spanish zone of the Iberian Market. Several simplified/alternative models are also considered as benchmarks to illustrate that the proposed approach is superior to all of them in terms of explanatory and predictive power.
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Land value bears significant weight in house prices in historical town centers. An essential aim for regulating the mortgage market, particularly in the financial and property crisis that countries such as Spain are undergoing, is to have at hand objective procedures for its valuation, whatever the conditions (location, construction, planning). Of all the factors contributing to house price make-up, the land is the only one whose value does not depend on acquisition cost, but rather on the location-time binomial. That is to say, the specific circumstances at that point and at the exact moment of valuation. For this reason, the most commonly applied procedure for land valuation in town centers is the use of the residual method: once the selling price of new housing in a district is known, the other necessary costs and expenses of development are deducted, including those of building and the developer’s profit. The value left is that of the land. To apply these procedures it is vital to have figures such as building costs, technical fees, tax costs, etc. But, above all, it is essential to obtain the selling price of the new housing. This is not always feasible, on account of the lack of newbuild development in this location. This shortage of information occurs in historical town cities, where urban renewal is slight due to the heritage-protection policies, and where, nevertheless there is substantial activity in the secondary market. In these circumstances, as an alternative for land valuation in consolidated urban areas, we have the adaptation of the residual method to the particular characteristics of the secondary market. To these ends, there is the proposal for the appreciation of the dwelling which follows, in a backwards direction, the application of traditional depreciation methods proposed by the various valuation manuals and guidelines. The reliability of the results obtained is analyzed by contrasting it with published figures for newly-built properties, according to different rules applied in administrative appraisals in Spain and the incidence of an eventual correction due to conservation state.
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Este artículo expone la primera aplicación experimental de un método para el análisis y la comparación de experiencias de vivienda social internacional en el contexto de las grandes áreas metropolitanas. El método, desarrollado en la Universidad Politécnica Universidad Politécnica de Madrid (UPM) desde 2009, se basa en la utilización de códigos gráficos y numéricos comunes y la integración de diferentes escalas de aproximación al entorno construido, de la vivienda y su arquitectura, a sus materiales de construcción y llegando más lejos, la ciudad. Además, los datos están vinculados a tres conceptos clave estrechamente relacionados con las condiciones específicas de las grandes áreas metropolitanas: la economía, la densidad y la diversidad. El objetivo final de la investigación es proporcionar una herramienta para la evaluación de la calidad de las viviendas sociales, optimización de recursos y un diseño innovador.
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The present paper studies the relationship between residential environment and building value. This allows us to know the elements of definition of the value of a particular housing market area and the variables that define that price. The objective of the research is to identify patterns within the residential housing market in the city area of Madrid.
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Proceedings of the 12th DOCOMOMO International Conference
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In the current uncertain context that affects both the world economy and the energy sector, with the rapid increase in the prices of oil and gas and the very unstable political situation that affects some of the largest raw materials’ producers, there is a need for developing efficient and powerful quantitative tools that allow to model and forecast fossil fuel prices, CO2 emission allowances prices as well as electricity prices. This will improve decision making for all the agents involved in energy issues. Although there are papers focused on modelling fossil fuel prices, CO2 prices and electricity prices, the literature is scarce on attempts to consider all of them together. This paper focuses on both building a multivariate model for the aforementioned prices and comparing its results with those of univariate ones, in terms of prediction accuracy (univariate and multivariate models are compared for a large span of days, all in the first 4 months in 2011) as well as extracting common features in the volatilities of the prices of all these relevant magnitudes. The common features in volatility are extracted by means of a conditionally heteroskedastic dynamic factor model which allows to solve the curse of dimensionality problem that commonly arises when estimating multivariate GARCH models. Additionally, the common volatility factors obtained are useful for improving the forecasting intervals and have a nice economical interpretation. Besides, the results obtained and methodology proposed can be useful as a starting point for risk management or portfolio optimization under uncertainty in the current context of energy markets.
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The advantages of wireless sensing implemented on the cold chain of fresh products are well known. These sensor systems consist of a combination of delicate internal electronic circuitry enclosed in a special housing unit. Manufacturers however are presented with the challenge that the housing required to withstand the harsh environment in which the sensors are being used all too often take from the functionality of the sensor. Therefore the target of this study is to determine the dynamic behavior and the counteractive effects of the sensor housing on temperature recording accuracy in the wireless nodes of Wireless Sensor Network (WSN) and Radio Frequency Identification (RFID) semi-passive tags. Two kind of semi-passive Turbo Tags were used (T700 and T702-B), which consisted of sensors with and without a cover, and two kind of WSN nodes, IRIS (sensors Intersema and Sensirion soldered in the motherboard) and NLAZA (Sensirion in a cable and soldered to the motherboard). To recreate the temperature profiles the devices were rotated between a cold room(5 ºC) through a ambient room(23 ºC) to a heated environment (35ºC) and vice versa. Analysis revealed the differences between housing and no housing are 308.22s to 21.99s respectively in the step from 5 to 35 ºC. As is demonstrated in these experiments the influence of the housing significantly hinders sensor accuracy.
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Short-run forecasting of electricity prices has become necessary for power generation unit schedule, since it is the basis of every profit maximization strategy. In this article a new and very easy method to compute accurate forecasts for electricity prices using mixed models is proposed. The main idea is to develop an efficient tool for one-step-ahead forecasting in the future, combining several prediction methods for which forecasting performance has been checked and compared for a span of several years. Also as a novelty, the 24 hourly time series has been modelled separately, instead of the complete time series of the prices. This allows one to take advantage of the homogeneity of these 24 time series. The purpose of this paper is to select the model that leads to smaller prediction errors and to obtain the appropriate length of time to use for forecasting. These results have been obtained by means of a computational experiment. A mixed model which combines the advantages of the two new models discussed is proposed. Some numerical results for the Spanish market are shown, but this new methodology can be applied to other electricity markets as well
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Sobre el conjunto residencial Kojima, de Tadao Ando
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La presente tesis doctoral aborda el estudio del proyecto de vivienda colectiva social desde la noción de norma, entendida desde la sistematización o normalización de los instrumentos del proyecto arquitectónico de vivienda protegida. Esto es, desde una idea de tipificación taxonómica en cuanto ajuste a un conjunto de reglas comunes productoras de sistemas normativos. La hipótesis de partida se basa en la consideración de la vivienda pública como un laboratorio de estudio histórico de los ideales de confort y calidad de vida. Este campo de pruebas ha constituido una sólida base que ha servido como punto de encuentro muy particular entre proyecto y normativa desde las primeras vanguardias europeas hasta la actualidad. El principal objetivo de la investigación es la revalorización de una normativa de vivienda que ha producido ejemplos de innegable calidad en el contexto nacional e internacional, así como un intento de actualización de su codificación. La investigación se sirve de los instrumentos específicos de la disciplina arquitectónica para explicar una disociación detectada desde la segunda mitad del siglo pasado entre la utopía del proyecto social de vivienda y el pragmatismo de la norma que lo regula, más allá de los aspectos sociales y culturales asociados a las nuevas composiciones familiares, las tecnologías cambiantes, los ritos domésticos contemporáneos o el valor creciente del tiempo libre. La propuesta de una nueva terminología que aborde nuevas relaciones en el acercamiento al proyecto de vivienda desde la normativa española deriva en un conjunto de estrategias de proyecto desde las que proponer sistemas normativos. Dichas estrategias se basan principalmente en mecanismos de cualificación espacial que permitan un nuevo acercamiento entre dichas normas y las formas de habitar actuales. ABSTRACT This doctoral thesis deals with the study of the project of social collective housing from the notion of rule, understanding it from the systematization or standardization of the instruments of architectural project for social housing. Thus, it deals with an idea of taxonomic typification as an adjustment to a set of common rules which produce regulation systems. The initial hypothesis is based on the consideration of public housing as a laboratory for studying the historical ideals of comfort and quality of life. This testing ground has been a solid base that has served as a very specific meeting point between project and regulations from the first European avant‐garde to nowadays. The main objective of this research is the revaluation of housing regulations, which have produced examples of undeniable quality in the national and international stage, as well as an attempt to update their codification. The research assumes the specific tools of the discipline of architecture for explaining a dissociation detected between the utopia of the project for social housing and the pragmatism of the regulations from the second half of last century, beyond social and cultural aspects associated to the new family arrangements, the changing technologies, the contemporary domestic rituals or the rising value of leisure time. The proposal of a new terminology that tackles new relations in the approach to housing project from the Spanish legislation results in a set of strategies to propose regulation systems. Those strategies are mainly based on mechanisms for spatial qualification which allow a new approach between these rules and the current ways of living.
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This paper explores the urban rehabilitation projects promoted by the Spanish Government between 1992 and 2012 through housing plans. The analysis is based on the comparison of programmes and estimations gathered in these plans with actual housing production within this period in order to find the connection between sectoral housing planning and real estate cycles in these last twenty years. During the period under review, six state housing plans, that were mainly focused on the promotion of newly-constructed state-subsidised housing, were developed, including the Areas of Integrated Rehabilitation programmes (ARI programmes). In spite of the relevance and growing complexity of these programmes, these played a subsidiary role in the government housing policy and were insignificant regarding the whole real estate production in this period.
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In this work, an electricity price forecasting model is developed. The performance of the proposed approach is improved by considering renewable energies (wind power and hydro generation) as explanatory variables. Additionally, the resulting forecasts are obtained as an optimal combination of a set of several univariate and multivariate time series models. The large computational experiment carried out using out-of-sample forecasts for every hour and day allows withdrawing statistically sound conclusions
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HOUSING FOR YOUNG PEOPLE, CÓRDOBA (2011). COLUMBUS’S EGG = EL HUEVO DE COLÓN