Volume 23 (2015): Issue 4 (December 2015)

The object of this article is to analyze and asses the legal and economic consequences arising from the adoption (or change) of a local spatial development plan. The paper also presents, based on the example of the rural commune of Tomice in the Malopolska Province of Poland, how to estimate income to the commune budget from the collected planning fees. The analyses are based on planning studies, including the local spatial development plan from 2004, and the study of conditions and directions of spatial development from 2012. The council of Tomice Commune adopted the local spatial plan due to the increasing demand for residential areas. According to the plan, over 930 acres of land have been allocated for investment purposes, which is approx. 22.4% of the total area of 4,155 ha. The local plan was developed for all the six cadastral units of the commune, with one hundred percent surface coverage. The physiographic conditions and the location of Tomice Commune encourage the settlement of the urban population (from Wadowice or Krakow), which entails the need for housing investment areas. In 2012, the Tomice Commune adopted a change in the study of conditions and directions of spatial development. The proposed re-zoning of the area is in line with the policy of transitioning from an agricultural character towards the sustainable and multifunctional development of the commune. It is worth noting that the provisions of the plan of 2004 take into account the collection of a one-time fee for the sale of real estate whose value has increased as a result of the adoption of the plan. The amount of this fee for investment areas was set at the level of 30% of the increase in value, in accordance with the provisions of the Polish Act on Spatial Planning and Management. Due to the fact that the currently valid local plan has been in effect for 10 years, it can be assumed that the commune will proceed to make some changes to it. The article estimates the potentially generated income, assuming that changes in the study passed in 2012 with regards to designating land for investment purposes constitute an indication of provisions in the future local plan.

This paper concerns changes of the cadastral value of real estate connected with changes in the land use determinations of the local spatial development plan in a given area over the analyzed period of time.

The research has revealed a variable course of the determinations of adopted local plans over the years, which would indicate the need to re-appraise the cadastral value of real estates, as well as recharge the tax ad valorem. To demonstrate the effects of the identified changes in spatial development plans in accordance with the assumptions of mass appraisal, the cadastral value of sample real estates located in the area of research was determined. The real estates were covered by a change of intended use resulting from adopting the Local Spatial Development Plan for the City of Krakow. The conducted research confirmed a significant change in the cadastral value of real estates subjected to evaluation.

In addition, the characteristics of the knowledge base on real estates on the local market of the City of Krakow have been researched, and the valid legal acts regarding the connection of information contained in the local spatial development plan with the method of determining the cadastral value of a real estate have been analyzed.

This article raises the issue of assessing assets of urban public space, as a specific example of revitalizing the urban fabric. This subject is so important in that it actually defines the contemporary perception and use of the city, visualizing the forms of human functioning in common urban space which are frequently not directly verbalized and originate rather from a custom or local habit, encourages interaction, but also determines constraints in social accessibility, divides people and stirs conflicts.

The main purpose of the study is to show the possibilities of assessing revitalization projects concerning various types of public space by means of multi-criteria comparison and the relative evaluation of the available action scenarios. The paper offers a thesis that it is possible to carry out effective assessment of public space, which can be applied when making decisions regarding socially desirable directions of revitalization.

The presented research aims to contribute to the concerns regarding the evolutionary dynamics of the real estate market, seen as an open system flowing from one equilibrium state into another. In such quasi-stable states, real estate markets are thought to change only slightly with elapsed time, but occasionally, a sudden jump, during which the markets undergo changes of structural origin, might occur as well. Hence, the paper contains an analysis of the dynamics of time series of housing prices in order to distinguish between processes of different time scales. Research was performed assuming a priori distributions of the variables, and using the autocorrelation function together with the partial autocorrelation function for detailed data analysis.

The management of residential properties has its specificity which primarily arises from their constant inhabitation by users, which requires the permanent provision of specific services to flats. This specificity is also significantly influenced by legal regulations which residential real estates are subject to, which vary according to the various forms of ownership and types of residential units.

This paper pays special attention to the organizational and legal forms applicable in residential property management in Poland.

The undertaken attempt to find a comprehensive approach to the problem of the institutionalization of residential property management in Poland is a good starting point for in-depth research into the effectiveness and efficiency of individual institutional forms.

This article aims to present the diversity in the rates of fees for advertisements on selected bank buildings located in the right-of-way, as well as the manner of calculating them. The research covered fees, incurred by a selected bank brand, for advertisements placed on all outlets of the bank in the area of the entire country in terms of the location of the buildings, means of establishing fees, rate of the basic fee, as well as costs incurred by the bank for placing advertisements in the right-of-way according to the state at the end of 2014.

Currently, one can distinguish a few means of right-of-way occupation for which fees are collected, including: for the purpose of carrying out construction works, locating technical infrastructure equipment or buildings unrelated to the needs of road or traffic management, and for placing advertisements (outdoor advertising). The basic rate of payments for occupying the right-of-way by advertising results directly from the ordinances regarding roads passed by local government units or thematic regulation pertaining to national roads. The maximum basic rate is specified by law.

This paper makes it possible to determine the scale of financial burdens incurred by a bank resulting from marking the outlets, as well as the differences in determining and calculating fees for signboards occupying the areas of right-of-ways among the many local road authorities.

The article analyzes the influence of planning decisions on changes taking place on the local real estate market. Three stages of the planning process are studied in particular, i.e.: the passing of the study of conditions and directions of spatial development, the Commune Council Resolution on initiating the formulation of a local spatial development plan, and finally the Resolution on accepting the local plan, as well as the effects of these activities on the land value in a given real estate market in Stargard Szczeciński, in the West-Pomeranian (Zachodniopomorskie) Province of Poland. The object of the research is to identify the indicated relationships on a given real estate market, on which respective spatial planning stages can be distinguished, as well as the strength and course of the analyzed relationships. The study will verify the research hypothesis regarding the strength and directions of the effects of planning decisions as the direct and indirect reasons behind price changes on the real estate market. The analysis uses data from the Price Register and the District Starosty Values, along with statistical and public information data and the authors' own studies.

Strict connections of the real estate market with the financial market are an unquestionable phenomenon at every level of investing, starting from the lowest individual investor, and finishing with national and transnational players. One of the more interesting examples of such a dependency is the problem of the risk of financing the real estate market, which results from numerous macro-, mezo- and microeconomic conditions, including, inter alias, the phenomenon of capital migration, supranational bank regulations or the development of currency exchange rates on world markets. The most recent example of such a dependency is, among others, the decision of the National Bank of Switzerland from the beginning of 2015 to abandon the Swiss franc-euro cap, which will go down in the history of the world financial market. Its global effects will surely be very difficult to assess, while the resulting turbulences and consequences for many (institutional, corporation and individual) market participants cause, on the one hand, awaiting a reaction and actions aimed at helping entities affected by the consequences of the mentioned decision and, on the other, many questions and doubts.

The paper will present current selected aspects concerning currency risk in the context of financing the residential real estate market and the directions of actions prepared in reaction to the abovementioned risk. Polish conditions will be presented against the background of examples of foreign solutions.

The aim of the work is to present:

the essence of currency risk in the context of the current financial situation of the Polish banking sector,

The method employed was the critical analysis of the most-recent reports and recommendations of the National Bank of Poland, Polish Financial Supervision Authority, Polish Banking Union, and other experts on the subject of financing the real estate market, as well as a comparative analysis of solutions regarding currency risk in selected countries.

This paper is conceptual in nature and presents the assumptions of a holistic approach to corporate real estate management. The approach is based on the imperative of sustainability, which has become a determinant of the proposed Sustainable Corporate Real Estate Management (SCREM) model. Moreover, the authors indicate that in addition to the presence of the sustainability imperative, corporate real estate management requires the integration and formalization of knowledge about the concepts of corporate real estate management (CREM) with those of corporate social responsibility (CSR). This approach is intended to enable the identification and improvement of real estate management processes and, as a result, contribute to more efficient and effective corporate real estate management and continuous and flexible development of enterprises, as well as boosting economic growth and building prosperity for present and future generations.

This study examined the drivers of office rents in selected districts of Abuja, Nigeria. These districts are Asokoro, Maitama and Utako. Primary and secondary data were utilized for the study. Primary data include office rental levels and office space data in the study areas for the period 2001-2012, and were obtained through structured questionnaires administered to real estate surveying and valuation firms which are active in the commercial property markets in the study areas. Secondary data for the study were obtained from the National Bureau of Statistics (NBS) and the Central Bank of Nigeria (CBN), and consist mainly of macroeconomic variables in Nigeria during the study period. Using single-equation regression analysis, the developed office rent model accounted for 76%, 72% and 75% of the variation in office property rents in the commercial property market of the Asokoro, Maitama and Utako districts respectively. The study also revealed that real GDP growth and vacancy rate are the major determinants of rental growth in the office property market in the districts of Asokoro and Maitama, while real GDP growth is the major driver of office rents in the Utako district. The socioeconomic implication of the findings is that the government can generate substantial revenue from property rate through sustained commercial property rental performance in the study areas. Such revenue can be deployed to provide and maintain public infrastructure, thereby improving the wellbeing of the citizenry.