The Property Valuation Ing. David Slavata, Ph.D. Lesson 1

Content 1. Introduction 2. The Registration of Property Rights, Ownership 3. The Valuation Approaches 4. The Investment Method 5. The Comparative Method 6. Cost based Methods 7. Presentations

Conditions for Graduation Drawing of seminary work Presentation of seminary work (50% of credits) Attendance (50% of credits)

The Seminary Work The Topic: Specifics of Real Estate Market In Condition of National Economy Introduction Name, country, university, contacts general information describing the real estates in country main problems of real estate market administrative structure (or, and structure from the point of real estate market) of country the main indicators of country (population, develpped or undevelopped regions, industrial and rural areas, unemplyemnet, GDP, inflation, interests, salaries……..) general statistics main segmentation typical for the country referencees The property rights and its specifics the Registration of rights (cadaster of real estates, the main principles) Extract from the cadaster the kinds of ownership the specifics of ownership due to the law referencees

The research data source referencees, dates analysis of the real estate market Structure Land Rural Building land Forests Buildings Flats Family houses Multiflat houses Summer cottages prices structure from the local point of view current data necessary analysis of unemployment from the local point of view, current data necessary Excel output required

Interpretation Comparisons Commentaries Ideas Conclusion Vision, future challenges investment opportunities recommandations privatisations

The Ownership Structure of Housing Market and Unemployment in Czech Republic Ing. David Slavata, Ph.D.

The Aim of Research To find correlation between unemployment and structure of housing market To certify the similar results of the researches in other countries

The Data In the research there were used the data describing the regional level of unemployment and structure of regional housing market. Ministry of Labour and Social Affairs Czech statistical office

RegionRate of Unempl. 5/15 Adds in TotalRentalHome Ownership Cooperative Ownership Praha4, Středočeský5, Jihočeský4, Plzeňský4, Karlovarský7, Ústecký9, Liberecký6, Královéhradecký5, Pardubický4, Vysočina5, Jihomoravský7, Olomoucký7, Zlínský6, Moravskoslezský8, Supply of the flats , regional unemployment 5/2015.

The Results SectorUnemployment 5/15 Private rental %-0, Home and cooperative %0, Home ownership %0, Cooperative ownership %0, The Pearson correlation coefficient Source: own processing

Unemployment and home ownership

Unemployement and cooperative ownership

The questions 1. Why there is the relationship between rate of unemployment and rate of cooperative sector in the housing market supply structure, while there is no relationship between rate of home ownership sector in the housing market supply structure and rate of unemployment? 2. Is there any reason why job mobility of families living in homeownership is higher than the ones occupy the cooperative dwellings.

The comparison of home ownership an coopertive ownership SectorCertifica tion of occupan cy Law statusFinancin g of purchase Renting (subletting) possibilities Home ownership CadasterOwnerMortgag e No restriction CooperativeCoopera tive administ ration TenantConsume r credit Cooperative authorities decision

SegmentHome ownershipCooperative ownership Average bid price of dwelling Interest in %2,17,0 Sum of year payment of interest 11,732,9 The basic financial comparison of home ownership and cooperative ownership, the sample of Ostrava city, one room and kitchen dwelling, panel house, in thousands of Kč.

Basic Reasons Financial barirers Concentration of older generation in cooperative dwellings

The results 1.I find out the positive correlation between the share of cooperative housing sector in the housing market supply structure and regional level of unemployment rate, 2.there are the financial barriers between the cooperative segment of housing and the rest segments (rental, home ownership), 3.the barriers can cause the rise of concentration of elderly generation in cooperative segment, 4.the private rental and home ownership segments are working in harmony with the tenure neutrality principals.