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Paper eres2012_091:
Factors affecting the location of various types of real estate

id eres2012_091
authors Malgorzata Rymarzak and Ewa Sieminska
year 2012
title Factors affecting the location of various types of real estate
source 19th Annual European Real Estate Society Conference in Edinburgh, Scotland
summary In the period of socio-economic changes and the growing competition from the international market, value growth of the company's is treated as a strategic objective of its shareholders. In developed market economies, the role of real estate as assets creating and contributing to the value of the company is increasingly acknowledged. By appropriate modelling of real estate portfolios and implementation of real estate management strategies, it is possible to enhance the value of the real estate owned by the company, thus increasing the value of the company as such. Managing the real estate portfolio of the company is connected with the need to analyse and solve numerous issues, including the location of a new facility or a change in its current location. This is so because locating a company at a given spot in space is connected with specific, spatially variable expenditures, incurred both at the stage of construction and operation. The problem of location is complex, dynamic, and difficult. It requires studies and ongoing discussion of its nature, because, with the flow of time, the set of factors decisive for the location expands, and they are constantly being redefined. The location theory has its micro~ and macroeconomic aspects. In the former case, deliberation concerns a single facility, in the latter there is a search for efficient spatial structures. In both cases finding a general and specific location is of primary importance. General location choice, i.e. placing the enterprise in a specific region and settlement unit is largely decisive for the future spatial ties of the company. In the process of specific location choice, i.e. specific land lot, physical, economic, and institutional and legal characteristics of a given real estate are analysed. In an attempt to join in the discussion of the issue, the authors of the paper are going to describe the location decision-making process, taking into account numerous factors and conditions. The paper tries to present the most important elements in their macro~ and microeconomic aspects which affect the choice of location of various types of real estate. The deliberation will start with a presentation of real estate classification according to its purpose and will be followed by a discussion of important from the point of view of corporate strategies - factors, determining location decisions for various types of real estate investment projects.
series ERES:conference
type normal paper
email mrymarzak@wzr.ug.edu.pl
discussion No discussions. Post discussion ...
ratings
session Parallel Session H9
last changed 2014/10/21 21:51
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