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The Influence of Monetary Policy on Real Estate Market as a Potential Catalyst for Economic Crisis
Suský, Stanislav ; Vozárová, Pavla (advisor) ; Chytil, Zdeněk (referee)
The thesis focuses on the influence of target interest rates set by central banks to stimulate property markets, in particular on the impact of these rates on real estate pricing and the subsequent bubbles in the housing market. In my work I analyse panel data portraying the quarterly performance of 29 European states from early 2000 till the end of second quarter of 2015. In the first part I investigate the influence of interest rates on property prices and find out that a one percentage point decrease of the target interest rate by the central bank resulted in a rise of 0.897 points in the house price index. In the second part I evaluate the impact of this instrument on the creation of a housing bubble, which is represented by the indicator of housing price sustainability. I estimate that an decrease in interest rates by one percentage point is concomitant with a increase of growth of the price bubble by 0,28 %. I thus validate my hypotheses on the negative correlation between the aforementioned variables.
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Impact of the Global Economic Crisis on Spain
Haluzová, Michaela ; Žamberský, Pavel (advisor) ; Fialová, Barbora (referee)
The aim of this thesis is to analyze the causes of the economic crisis in Spain, its progress and impacts on selected sectors of the Spanish economy. In this thesis selected macroeconomic indicators such as GDP, inflation and unemployment are used to describe developments in Spain during the crisis and before. A significant part is devoted to the causes of the crisis, mainly to the construction sector and the formation of a price bubble in the real estate market. Effects of the crisis are demonstrated on selected sectors of the economy. The last part describes the attitude and measures taken by the Spanish government and the European Union during the crisis. Attention is focused on budget cuts and the steps undertaken by the Spanish government.
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Ověření Oswaldovy hypotézy pro okresy České republiky
Kasparová, Kateřina
The main aim of the thesis is to decide whether the share of home ownership has any effect on the unemployment rate for districts of the Czech Republic and whether Oswald hypothesis is valid. There are issues concerning Oswald hypothesis in the Bibliography, especially labour market and residential market. The chapter Methodology describes econometric analysis, which was used for the needs of the practical part. The results of this thesis are discussed and compared with foreign works.
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Current economic crisis in Spain and its impact on the development of the Spanish foreign trade
Šamajová, Silvia ; Žamberský, Pavel (advisor) ; Vrňáková, Irena (referee)
The Bachelor's thesis deals with Spain's expansionary policy which was ended by the economic crisis in years 2006 and 2007. Its goal is to call attention to the elements which led to economic boom but subsequently caused the crisis. A significant portion of the thesis is dedicated to the construction industry and the real estate market because these were the areas at the origin of the downfall of Spanish economy. In the practical part is analysed the formation of price bubble on the real estate market and its subsequent crack. In the last part is presented the current state of economy in Spain and their foreign trade potential.
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Changes in prices of property after accession to the European Union
FOJTLOVÁ, Monika
The thesis deals with changes in prices of property after accession to the European Union. Its main aim is to provide a practical review of relevant legislation and describe current situation in land valuation in the CR .Next aim is to compare price of real estates in the Czech Republic, Slovakia and Switzerland. In the section devoted to land valuation in the CR the thesis gives a historic review of valuation legislation since the year 1918 up to present and compares the effective executive regulation No. 364/2010 Coll. with the previous regulation to apply Act no.151/1997 Coll., on Evaluation of Property and on the Amendment of Certain Law, as amended. In the next chapters are presented basic general principles and methods of valuation, as well as the purpose of valuation. In some chapters there are examples of bid prices and market prices. Below there are given charts and tables for real insight. One chapter is devoted to the situation in the Slovak Republic and one is paid to the situation in Switzerland. In conclusion, the results are compared among the selected countries. The thesis is complemented by annexes, which relate to the topic, for example expert opinion on the valuation of property, executed by a judicial expert.
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The real estate tax as an instrument of an economic policy
TRÁVNÍČKOVÁ, Radka
In my thesis about the topic ``Real estate tax as an economic feature`` I looked into the way how real estate tax affects expenses and mainly the results of business. I investigated how real estate tax shares expenses and the results of business in the current tax terms. Furthermore I was interested in these effects if the tax grew to the ``European{\crqq} level, i.e. grew three aims. The final point was an effect in case of abolishing the tax on the subjects observed. I did the research for three chosen subjects (two cooperative farms and one private farmer). In conclusion I dealt with how real estate tax influences economic behaviour of business and the whole real estate trade.
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Analysis of the Slovak market entry
Pausová, Martina ; Filipová, Alena (advisor) ; Zeman, Jiří (referee)
The goal of my thesis is to elaborate a recommendation for the slovak market entry of the project bezrealitky.cz. Recommendation will be based on a situation analysis of the real estate market and of the main competitors. It should confirm or disconfirm the hypothesis, that in the slovak real estate market exists a niche in providing complex services for byuers and sellers of the real estates, which could be filled by project bezrealitky.cz
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Real Property Valuation
Blažková, Kristina ; Heřman, Jan (advisor) ; Hezina, Miloslav (referee)
Práce je zaměřena na administrativní ocenění bytové jednotky porovnávacím způsobem dle vyhlášky 540/2002 Sb. a následným vyhodnocením bytu jako investice. Teoretická část se zabývá vysvětlením používaných základních pojmů v této oblasti a dále metod administrativního oceňování, včetně definování vztahu mezi cenou a hodnotou. V praktické části je provedeno konkrétní ocenění bytu, studie dosavadního vývoje trhu nemovitostí i porovnání bytu jako investice s jinými možnostmi.
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Metody oceňování pozemků a jejich aplikace
Hricová, Silvia ; Dušek, David (advisor) ; Votřelová, Gabriela (referee)
Diplomová práce se zabývá metodami oceňování pozemků a jejich aplikací, kterou ilustruji na pozemku, jenž byl nedávno zobchodován za rekordní sumu za metr čtvereční v ČR a u něhož lze z veřejně přístupných zdrojů zjistit veškeré hodnototvorné faktory. Cílem je zjistit, zda byla cena zaplacená investory přiměřená, anebo nikoliv. Ocenění je provedeno pomocí šesti různých metod, a to metody srovnávací, indexové porovnávací, Naegeliho metody třídy polohy, reziduálním způsobem, Sammetovou metodou a oceněním podle předpisů. Součástí práce je i analýza pražského trhu se stavebními pozemky.
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