Экономика и управление недвижимостью

Building for a better hospital. Value-adding management & design of healthcare real estate

In the Netherlands outsourcing management of real estate by institutional investors is not something obvious. Since real estate investment became in use by institutional investors about 1960, investors started their own real estate management departments. Only property management, that is concerned with daily administrative, technical and commercial management as well as maintenance activities, was outsourced to external parties. Meanwhile, these so called real estate management organizations got more professionalized caused by increased experience and changed (real estate) market circumstances. For example, this professionalization finds expression in merging local parties into (inter)national operating real estate management organizations, benchmarking of management performances and standardization of contracts. Nevertheless, the relationship between investor and manager is under pressure. Profit margins are small and real estate investors are still inc lined to think that the services delivered by real estate managers are below standards. The aim of this paper is to investigate whether there are chances for real estate management organizations to reinforce their market position. To answer this question a survey was done among three different types of real estate investors: institutional investors, limited partnerships and private investors. In the survey current outsourcing strategies, future strategies, motives and the opinion about real estate managersí services were questioned. In the conclusions a comparison will be made between outsourcing strategies of different real estate investors. Chances for the real estate management sector are formulated. At the end, the paper reflects on the sector as a whole in relation with other sectors and other countries.

Real estate management activities evolved with the development of the real estate industry, the needs of property investors and general changes in the market environment. Today, these activities require a comprehensive approach on the one hand, but on the other, are more and more specialized. The paper presents an integrated view of real estate management on the example of a multidimensional basic concept of real estate management developed under German market conditions. Detailed analysis of this concept was preceded by a review of approaches to real estate management made on the basis of literature and own research. It was on this basis that opportunities and application fields of the integrated model of real estate management in Polish market conditions were characterized. The presented concept can be used both as a raster to harmonize real estate management activities and tasks in business practice, as well as a classification scheme for the evaluation of scientific research. This concept is an important step on the way to structuring and organizing real estate management as a professional service according to the indications of management science.

Digitalisation is not just about the application of technology, but also about business transformation enabled by digital technologies. In terms of digital transformation, there is still a significant backlog in real estate management (REM) and facility management (FM) that must be addressed. Digitalisation is changing not only the format in which information is held and processed, but also business processes and working methods. This gives rise to new concepts and methodologies, commonly referred to as digital transformation. REM and FM managers need to be aware of and understand the relevant digitalisation technologies that play an important role in the REM and FM sectors in order to take advantage of them. This paper aims to increase stakeholders’ digital awareness by explaining key digitalisation technologies in the context of their use in business. It does so by first providing an overview of the selected technologies and showing how they relate to each other, resulting in a technology matrix that categorises the business uses with regard to REM and FM managers, building users and operators. These digitalisation technologies are then explained and discussed in detail. This paper concludes by structuring the technologies, identified benefits and key implementation challenges within a digitalisation framework. This article is also included in The Business & Management Collection which can be accessed at https://hstalks.com/business/.

The main function of the property manager is to realize the property owner's objectives, to generate income for them as well as maintain or increase the value of the investment property. The job of a property manager is complex and requires expertise in a more comprehensive field of real estate. The real estate market which has a direct impact on the job of real estate managers, is a major component of the economy in general. The two are very close where economic performance can cause changes in the real estate market. In order to assess the current and future potential of a particular property and then develop a management plan for it, a property manager must first understand the underlying economic trends and their implications for the real estate market. Only then can the property manager proceed with the steps to develop an efficient and professional management plan. All the activities involved in the marketing of the space to be rented are directed towards a single goal, which is to sign a rental agreement between the owner and the tenant. The role of the property manager in rental management will involve aspects of rent collection, establishing good relations between owners and tenants, coordination between tenant contractors, management of utilities and building services and monitoring the return of the premises to a good condition after the termination or expiration of the rental period.

Since the increase of value of real estate is no longer taken for granted, investors are looking for ways to ensure their direct return on real estate. Optimizing the occupancy rate and minimizing operating costs are important issues when calculating the direct return. For that reason, the role of the real estate manager that is responsible for daily management of the investor’s real estate portfolio, has become more important. The real estate manager has to demonstrate to the investor his or her capabilities in managing and controlling rental income and operating costs. The aim of this paper is to define the key indicators for measuring real estate management performances. The measurement of these indicators provides investors important information when improving their real estate management processes and evaluating their contracted real estate managers. Also the paper demonstrates how information about management performances can be shared by real estate investors as well as their managers by means of an online management information tool.

The anchoring effect is one of the cognitive biases studied within the phenomena observed in psychology and behavioral economics. Through the anchoring effect, human judgments and decisions can be suboptimal due to excessive focus on random information. This phenomenon plays a significant role in many aspects of social and economic life, including the real estate market, leading to incorrect decisions among both consumers and professionals. The aim of this study was to evaluate the impact of the anchoring effect on decisions regarding the value of a random apartment among Polish specialists in real estate market, based on a simplified description of the apartment. The research group included real estate valuators, real estate brokers, real estate managers, and academicians. The sample size included 170 respondents. The research showed that the effect of “anchors” is evident in every professional group, regardless of the type of services provided, educational background, or years of professional experience. The anchoring index among the surveyed group was 46 percent. The study confirms that expertise in real estate market does not guarantee unbiased assessment, and therefore, there is a need to conduct the process of real estate evaluation in a careful way to increase the chances of obtaining trustworthy results.

This paper presents the perceptions of academics on real estate topics offered in Bachelors Real Estate (BRE) curricula in Africa. In order to understand the perceptions of academics on real estate topics, a survey of seven selected BRE curricula offered in different regions of Africa was conducted to determine important real estate topics academics included in the curricula. After analyzing the curricula, sorting and re-grouping the topics: Real estate management, Real estate valuation, Real estate economics, Real estate finance and investment, Real estate development, Real estate law, Real estate planning, Real estate research, Real estate industrial training and Real estate electives emerged to be important topics the academics considered to include in the curricula. The topics are in line with those expected in a real estate curriculum. In addition, results revealed that BRE curricula follow the interdisciplinary approach to real estate education. Findings will encourage universities in Africa and elsewhere to develop comprehensive real estate curricula or improve existing ones to accommodate the interdisciplinary approach and the international perspective of real estate education because of their benefits. The study will also support the harmonization of real estate education, practice, investment and business in Africa, hence contributing towards the economic development of the continent.

The debate about urban production has been fanned by various drivers. Thanks to the new technologies of the fourth industrial revolution, the merger of the production and service sectors, and advances in environmental engineering leading to reduced harmful emissions, it is now feasible for certain areas of production to return to towns and cities. Apart from technological innovations, this departure from the usual ‘greenfield’ sites is also favoured by economic, ecological and social trends. They include reurbanization and demographic change, not to mention a growing awareness of sustainability. Above all, however, what makes urban production so appealing, possibly even imperative, is the growing trends towards individualization coupled with the desire for a better balance between family, private life and work, which is part of the vision for the European city. Urban production currently lacks a conclusive definition. Generally speaking, urban production combines modern production techniques with modern urban locations where smart production is enabled by product diversity. Urban production can mean quite a lot, namely: urban manufacturing, urban industries, and also urban agriculture or urban farming. The paper is concentrated on urban industry. This is partly because central Germany has an industrial background, and partly because there are already a number of research projects on urban manufacturing by artisan businesses. Furthermore, it is important to distinguish between whether a production site has become urban by chance or by design. Urban production poses very different challenges depending on which situation applies. The Paper is focused primarily on urban production locations that were consciously developed as such and on the following questions: What industrial sectors are suitable for (conscious) urban settlement? How can existing areas like industrial and commercial estates be suitably upgraded? How can business networks be established for the smart, sustainable use of commercial sites? How relevant are these findings for real estate management, for example for the revitalization and redevelopment of existing real estate and in particular of derelict industrial buildings? Furthermore aims are the initiation of ‘Industry and Sustainability’ transformation laboratories, the reorientation of technology and business incubators and Professionalization in the management of corporate real estate. For all these approaches, it is essential to be aware of the processes behind urban production. Only then can the right concepts and measures be applied in real estate management to create attractive urban locations.

Over the past decades, more efficient real estate management opportunities have significantly expanded and improved. Complex methods, innovative techniques, and a constantly evolving spectrum of information technology have become readily available for common use. When managing real estate for short-term or medium-term rentals, planning, servicing, and ensuring accommodation quality are inseparable aspects, as is providing suitable housing. This process begins at the very first step when potential tenants request a viewing of the preferred property. The situation of the past few years demonstrated that the real estate business was one of the most affected economic sectors by the COVID-19 pandemic. Potential buyers or tenants could no longer physically visit and experience the space as before. Faced with this new reality, there was a need to find a tool to enhance the real estate management strategy by presenting the property. One such tool became the 360-degree photography and virtual tour. The aim of this study is to assess the practical applicability of 3D video tours and evaluate the advantages and drawbacks in short- and medium-term rental business.

New perspectives and frontiers were highlighted in a Special Issue on “Real Estate Economics, Finance and Investments”. The twenty-eight papers that were selected and published emanated from scholars from universities all over the world with the aim to represent more recent advances in building management, mass appraisal methods, real estate risk management, economic evaluation of real estate investment projects, real estate market, property, social housing, real estate economics, real estate finance, building transformation and economic effects on environment. These papers helped to determine a unique and valuable opportunity to experiment with multiple approaches to these ever more crucial topics. This note proposes a brief review of the twenty-eight papers, concluding with some reflections about policy, practice and research on real estate issues.

CUREM, Center for Urban & Real Estate Management ñ Zurich offers the only RICS-accredited real estate programme in Switzerland ñ the Master of Science in Real Estate (MSc Real Estate). Our Scientific Director is Prof. Dr. Karl-Werner Schulte (IREBS: International Real Estate Business School der Universit‰t Regensburg), an outstanding academic in the field of real estate research. CUREM was founded in 2004 by real estate professionals and is up to this date privately funded. It is completely focused on the real estate industry and aims to contribute towards its professionalisation. From the start, CUREM has endeavoured to bring international knowledge to Switzerland. This is reflected by the Swiss and European background of its teaching staff. CUREM aims to participate and contribute significantly to national and international research bodies such as INREV, ERES or srett.

Managing real estate properties efficiently presented challenges due to the complexity of tasks involved, including tenant communication, maintenance scheduling, and financial tracking. Traditional methods often relied on manual processes, leading to inefficiencies, errors, and delays. Motivated by the need for a streamlined solution, this paper introduced a web-based real estate property management system designed to address these challenges. By employing a descriptive research design and utilizing the mixed methodology approach, the study investigates the challenges faced by realtors in managing property information. It also evaluated the current information management systems of each realtor in handling property listing, sales, leases, and rentals. The research findings revealed that 45% of respondents encounter challenges in property information management, primarily related to inefficient handling of sales information and lease agreements. While 72.7% of respondents use real estate software, shortcomings such as a lack of detailed property information and communication issues underline the need for a comprehensive web-based management system meeting various real estate management needs, as preferred by 90.9% of respondents. The results of the study will be used to propose a web-based real estate property management system for the overall efficiency of real estate operations and revolutionize how real estate assets were managed and optimized in digital age

As the Digital China initiative advances, real-scenario 3D stereo technology stands out for high-precision modeling, spatial data integration, and intelligent analysis. It becomes crucial for upgrading real estate management in China. This technology eases issues like high costs, long cycles, slow updates, and high hardware and software demands in traditional real estate management.With support from internet bandwidth, servers, and clients, it drives continuous upgrades of real estate management systems to meet new-era demands. Against this background, this paper analyzes the basic features of 3D real estate management, sums up the application value of real-scenario 3D stereo technology in this field, and proposes ideas for its further application and development.

<p>In this century, online education increasingly has become a crucial means to educate a broad public about contemporary issues in any academic field including real estate. Massive open online courses (MOOCs) for instance are free online courses available for anyone to enrol worldwide usually attracting more than 1,000 students. This abstract discusses real estate education lessons and prospects from the MOOC “Managing Building Adaptation: A Sustainable Approach” developed and taught by the author and various department colleagues. This online course ran from September to October 2017, attracted 2,500 students, issued 39 certificates, and involved a complete new course set up in terms of learning objectives, learning activities and assessment methods. As one of the first free online real estate courses valuable lessons might be drawn and prospects can be explored for real estate education. Therefore, first, lessons are drawn on the course itself, covering the course structure, development, and didactics by making use of concrete examples from MOOC online modules and student and staff evaluations. Goal of this lesson-drawing part is to comprehend the difference between MOOC education and ‘traditional’ (real estate) education. One key finding is that massive open online education require teachers to reformulate and reframe education material (e.g. presentations, videos, reading material) in such a way that it grasps the topic’s essence, allowing it to be suitable for an online learning environment. Second, prospects are discussed for the future of real estate education, touching upon some recent topics in ERES education debates including students’ industry-readiness, development of academic skills, etc. Aim of this part is to identify what the role of online real estate courses could be in educating a global audience, and what type of online real estate education could trigger an broader interest in ‘on-site’ real estate education programmes. One prospect is that online courses could appeal to a broad international public once it touches upon global real estate challenges, while simultaneously allowing for practical case assignments which assist students in practising with real estate management, development, finance and investment tools. In general the experiences with and findings from this particular MOOC potentially widen and deepen the debate about the future of real estate education.</p>