This is a thorough exploration of the evolution of the commercial property investment and development markets from the mid-nineteenth century to the present day. It explains how the current investment scene emerged and fills an important gap in the literature on the property market.

Real Estate, Construction and Economic Development in Emerging Market Economies examines the relationships between real estate and construction sectors and explores how each sector, and the relationships between them, affect economic development in emerging market economies (EMEs). Throughout the book, the international team of contributors discuss topics as diverse as real estate finance and investment, housing, property development, construction project management, valuation, sustainability and corporate real estate. In doing so the book demonstrates how the relationship between construction and real estate impacts on economic development in countries such as Argentina, Brazil, Colombia, China, Ghana, Nigeria, Turkey, Lithuania, Hungary and Slovenia. Topics include: the role of real estate brokerage in improving the living standards of citizens; the effect of a mineral boom on construction cycles, real estate values and the socio-economic conditions of people in boom towns and cities; corporate real estate management practices and how they affect economic growth; and the synergies between construction and real estate and how they, in turn, affect economic development. This book will be of interest to those studying and researching real estate, construction, development studies, urban economics and emerging market economies.

Contrary to other developed economies, Australia has experienced a long-term deterioration in housing affordability even between housing price booms. The house price boom that came after the global financial crisis has intensified the stress on Australian housing affordability to yet higher levels, and is likely to continue to be a concern for some time to come. This book reviews a range of available approaches for the measurement of housing affordability, and examines recent empirical evidence on housing affordability in Australia. It begins by explaining the relevance of housing to governments at different levels, the emergence of the housing affordability problem, and the global importance of housing affordability. It then explores the causes of the recent explosion in the number of institutions offering home loan products, analysing features such as the size, composition and changes in total lending and home lending in Australia. The author goes on to investigate the consequences of the two most recent rounds of financial deregulation, as well as the trends in interest rate and property prices, and recent changes in typical borrower behaviour. The book concludes by reviewing a range of available approaches in the measurement of housing affordability. It assesses whether there is a level of adjustment in housing affordability, and finally analyses which housing market segment represents the better investment opportunity during housing boom periods.

This book looks at how the multiplicity of formal and informal normative systems that actualize the post-disaster recovery goals of the country's Disaster Risk Reduction and Management Act of 2010 has resulted in the inadequate housing and relocation of Typhoon Ketsana victims in the Philippines. Using the sociological and normative pluralist perspectives and the case study method, it evaluates the level of conformity of the components of the housing project according to international conventions and legal standards. It highlights the negative unintended consequences caused by the complex normative regimes of various competing stakeholders, rigid real estate regulation, and the unscrupulous involvement of powerful and 'corrupt' real estate developers and housing groups as largely contributing to the project's deviation from the law's proactive objectives. This book attempts to promote the socio-legal perspectives which have long been overlooked in disaster research. Finally, it invites policymakers to enact a comprehensive disaster law and create a one-stop disaster management agency to improve the long-term rehabilitation of disaster victims in developing countries such as the Philippines.

This book is about changing the way we do public administration. It is about the wielding of administrative discretion in the implementation of a constitutional power: eminent domain, taking private property for public use. Administrative Discretion in Action: A Narrative of Eminent Domain, emphasizes the normative, constitutional perspective of public administration to study administrators' decision-making process that balances economic, political, and community interests-often in that order. It is about facilitating dialogue between public officials and the public. This book is a tool for interested scholars, practitioners, students, and community members about the dynamic of administration of public affairs in a political context. Grounded in public administration theory, this book utilizes an in-depth, comprehensive analysis of the US Supreme Court's landmark 2005 decision in Kelo v. New London-from the perspective of public officials and community members in the state of Connecticut (home of Kelo case)-to share a balanced narrative.

The updated edition of the bestselling, essential guide to real estate financial calculations Every real estate investor needs to know how to calculate cash flow, long-term gain, net operating income, and other basic financial formulas. Real estate investment expert Frank Gallinelli has been helping investors understand these important aspects of real estate and navigate the complicated market for decades. The updated, revised third edition of his must-have guide What Every Real Estate Investor Needs to Know About Cash Flow . . . teaches you how to master the 37 most essential calculations that determine property worth, projected profits, and investment potential. The real estate industry has gone through a decade of upheaval, so it is now more important than ever for those who are engaged in it to understand and to apply the timeless financial methods and metrics used by successful investors. This new edition of Gallinelli's bestseller features calculations, figures, charts, tables, and fresh advice on critical aspects of real estate investing. Additionally, an entirely new section on property analysis shows you how to apply calculation-based skills to real-life transactions.

With numerous cogent examples from real estate markets worldwide, Dr. Hines makes it clear that investing in foreign real estate is by no means the same as investing domestically. She shows how, why, and when special strategies must be devised to enter the world market; conveys essential information on global investment opportunities; outlines career opportunities and advancement strategies in international investment; and provides insights into international business in the context of global real estate investing. Her focus on industrial, commercial, and residential real estate reflects both the major investment interests of world-class investment professionals and the diversity of real estate market conditions. Her book is thus an essential resource for professional real estate investors, teachers, and their graduate-level students. Dr. Hines focuses on the general investment strategies that successful and profitable international real estate investors have devised over many years and now follow assiduously. Readers gain knowledge of direct investment in industrial, commercial, and residential real estate and through the purchase of securities, such as real estate investment trusts and mortgage backed issues. After discussing basic international real estate differences and general acquisition strategies, the book moves to functional strategies, such as valuation, land development, construction, financing, and tax strategies. Dr. Hines concludes with a coverage of housing and shopping centers, office buildings, and industrial property investment--all of which allow readers to observe the differences among functional areas and then tie them to the differences among investments invarious types of properties. Her book covers Western, Eastern, and Central Europe; East, Southeast Central, and South Asia; Africa in general, and Morocco in Northwest Africa in particular; plus the Middle East and North and South America.

From long personal experience, research, and private conversations with international real estate investors, analysts, and marketing executives, Dr. Hines identifies succinctly and precisely the differences between investing in Japanese real estate and real estate elsewhere--the crucial differences, plus the risks and hazards that real estate professionals must know and understand. She shows that the new Japanese economic environment is having its affect on real estate there, how foreign investors are influencing the value of property and the systems to analyze it, and why the financing of real estate in Japan through loan and equity securitization is on the rise. Real estate professionals will be particularly interested in her coverage of commercial and residential property, while specialists with other interests will also get an unusual view of Japanese urban planning, land development, and tenure changes over time, information that is rarely available in English.

Dr. Hines focuses on the Tokyo metropolitan area and on office buildings and shopping centers, in general but she also covers residential and industrial property investment across Japan. Readers will get a quick view of the new investment climate and aspects of economic, cultural, governmental, and environmental change in Japan. She gives a brief history of Japanese land tenure and views current land planning and control from a historical perspective. For real estate professionals there are chapters on leasing, marketing, land development, and construction, and she delineates the differences between Japanese real estate appraisal and international valuation methods and practices. Also noted is the increased use of income capitalization methods. Dr. Hines examines differences between Japanese and international real estate investment methods of analysis, particularly in light of Japanese real estate financing and taxation. She also illustrates the imputed interest charge methods of investment analysis and gives special emphasis to internationally approved discounted cash flow analysis. Finally, the book examines the trend toward real estate securitization and shows how banks and other financial institutions are reducing their real estate lending and restructuring themselves to prepare for a new era of economic reform.

It is widely held that private ownership is the preferred end state for all scarce resources. Those who hold this view have not looked closely enough at water in the American West, Barbanell contends. Because of water's special attributes, private ownership is an ineffective means for protecting individuals interests. Splitting the various rights of ownership between individual resources users and the community to which they belong can better protect those interests. Barbanell develops a conception of this form of common ownership, a common-property arrangement, and shows that it can function effectively for water in the West. More generally, he offers an expanded framework for analyzing right relationships and examining problems related to resource scarcity.

Some economists argue that John Locke's account of property justifies the private ownership of water in the West. Barbanell argues, however, that because Locke did not think carefully enough about the variable nature of resources, his account does not support that conclusion. Although economists recognize that private ownership may not be perfectly suited to all resources, they are nonetheless skeptical about common ownership alternatives. Barbanell shows that this skepticism is unwarranted. When the rights relationship among members of a resource community is based on mutual expectations of reciprocal behavior, then a common-property arrangement can function effectively to control the degradation and depletion of a scarce resource. Barbanell's argument that common ownership is a conceptually sound and politically viable alternative for water will be of particular interest to public policy makers, environmentalists, resource economists, and political philosophers.

This third volume in the "Environmental Regeneration Series," sponsored by the Rene Dubos Center, brings together original work by distinguished scholars and policy makers on the management of the nation's land resources. As the editors note at the outset, almost all questions of environmental quality or resource use ultimately focus upon the land. And, they argue, because most food and energy production, toxic waste storage, resource use, and other activities take place on privately owned land, socially responsible resource-related tradeoffs and good stewardship are at least as important for our private lands as for our public lands. In their examination of the bases for public interest and control of privately owned lands, the contributors consider the rights and obligations of the private owner, the different natural resource situations, regional variations, and the sometimes conflicting goals of different interest groups.

The contributors pay particular attention to interrelationships in land use, the linkages among all the components of resource systems, and the necessity of expanding system boundary definitions beyond traditional, technically-oriented definitions. Among the specific issues addressed are maintaining agricultural productivity, siting concerns, cross-media environmental problems, and multiple use considerations. Individual chapters are devoted to such topics as effective toxics management, biotechnology, acid rain, waste management, the location of industrial facilities, and nuclear waste packaging. Taken together, these essays will provide students of land management and policy makers in local and national government with a better understanding of the complex issues involved--an understanding that should lead to better informed decision making about the responsible use of our nation's private lands.

This book describes in full the major approaches used to evaluate investment in real estate and shows how theory informs decision-aid methods and tools to support such evaluation. The inclusion of numerous examples makes it also a practical guide to assessing the suitability of an investment property. The first part of the text is devoted to an analysis of the housing market through the study of micro- and macroeconomic variables influencing supply and demand, with illustration of how these two components of the market interact. Special attention is given to market research and other preparatory activities able to influence the outcome of the investment. In fact, the quality of the parameters used for the evaluation depends on these activities. The final chapters describe the valuation techniques and highlight their essential features, limitations and potential in relation to ability to manage the investment risk. The book is aimed at graduates who wish to deepen their study of the real estate market and of the methods used to support investment decisions in real estate but also at professionals and managers of companies operating in the real estate market.

The Housing Outlook discusses the major factors affecting housing activity, housing demand, supply responses, and housing costs. This book: establishes benchmarks for evaluating national housing performance; suggests goals for public policy; and provides a core of information for both the public and private sectors on decisions affecting housing. The authors examine housing demand and changes in inventory over the decade, and isolates the specific effects of new construction, rehabilitation and conversion, and losses on the decrease of the housing supply.

This publication analyses calendar anomalies in the real estate industry with a focus on the European market. It considers annual, monthly and weekly calendar anomalies looking at a representative sample of European REITs and highlights the main differences amongst the countries.

Comprehensive but digestible and affordable guide to the complexities of English and Welsh Building Regulations Has become the go to for a variety of professionals and students in Construction, Architecture and Built Environment fields who need a reference to UK building regs Provides easy to read and ready reference guidance on the Regulations without having to wade through the Regs themselves Packed with useful features, notes and flags to guide the reader on important points and suggestions

This book presents interviews with 20 successful Malaysian housing developers, to provide real-world insights and practical know-how for future developers. It is designed in a way that reveals the secrets of successful developers, from their origins to their current status with the interviews conducted in a semi-structured manner so that the interviewees were able to freely share their experiences, thoughts, opinions and tips acquired throughout their business careers. Covering the developers' success stories, from their background, educational history and personal traits to their business challenges and achievements, it appeals to academics and practitioners alike.

This collection of twelve original essays explores the history of people interacting with the land. The first section examines how Native Americans attempted to maintain control of their lands. The second includes three essays that are concerned with land speculation, from the earliest penetration of the Europeans into the interior of America to the last frontiers of West Texas and Northern Mexico. A third section considers land policy and governmental attempts at regulation. The fourth documents environmental abuse and alteration by politicians as well as agriculturalists, farmers, and ranchers. Human interaction with the land is thus highlighted as westward expansion is chronicled.

Hong Kong's anti-corruption agency, ICAC, is hailed as among the world's best having almost completely purged systemic corruption within a decade of its inception. This book explains how Hong Kong maintains the myth of a clean city and examines the prevalence of white collar crime in the city's property sector.