5441337359
Karol Klimczak
58 ISSN 2071-789X
RECENTISSUES IN ECONOMIC DEYELOPMENT
Karol Klimczak, Determinaiits of Real Estate Investment, Econmics & Sodobgf, Vol. 3, No 2,2010, pp. 58-66.
Karol Klimczak
Department oflniestments and Real Estate Unhersity of Pomian kami. klimc-yak@ue.po spatt.pl
DETERMINANTS OF REAL ESTATE INYESTMENT
Recehtd: August, 2010 IstReńsion: October, 2010 Accepted: November, 2010
ABSTRACT. On the Capital market, one of important criteria for investment decision is the issue of selecting sources, possibilities and methods of raising the value of the investment object (Rogpwski 2004, p. 38) Familiarity with sources of value as well as factors of which determine the value and impact upon the attractiveness of a Capital market segment in question, allows Capital owners to make effective and rational investment decisions. Issues conceming economic and physical properties of the estate that constitute its value, are of great importance for prospective investors on the real estate market.
JEL Classification: L85, P2 Keywords. real estate, investment, investment valuation, investment factors, criteria for investment decision.
Introduction
On the Capital market, one of important criteria for investment decision is the issue of selecting sources, possibilities and methods of raising the value of the investment object. Familiarity with sources of value as well as factors of which determine the value and impact upon the attractiveness of a Capital market segment in question, allows Capital owners to make effective and rational investment decisions. Issues conceming economic and physical properties of the estate that constitute its value, are of great importance for prospective investors on the real estate market. One of the crucial aspects that defines current and futurę value of the estate is the local authorities’ policy on town and country planning. Moreover, what should not be disregarded is the country overall economic environment and the situation on the real estate market.
Investments in real estate - legał regulations
According to Civil Codę regulations of 23rd April 1964, properties are part of the terrestrial surface, forming a separate property subject (land), as well as being buildings permanently fixed to the land or part of other such buildings, if in force of separately detailed regulations they make a separate entity from the land property subject. 'Property' also means an assigned land area together with buildings and other devices constructed on it which form components of the property. The Civil Codę in Article 143 also States that in the ranges
Economics & Sociology, Vol. 3, No 2, 2010
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