Risks and Rewards of Leverage in Romanian Real Estate Investment

Real estate investors’ behaviour

“…The same could be said regarding credit availability (loans) and infrastructure. For the first one, the finding was consistent with the outcomes of Ling et al (2016) and inconsistent with Cerutti et al (2017), Bian et al (2018); Carmichael and Coën (2018); Hashmat and Rouillard (2017), Sakr-Tierney (2017); Christopoulos and Barratt (2016), Shen and Yin (2016); Owusu-Manu et al (2015), Wu et al (2015); Onofrei and Anghel (2012). Finally, the results indicated that the value of the coefficient of INFR was, as expected, positive but statistically insignificant and this was inconsistent with the finding reached by Cordera et al (2018).…”

“…However, the values of the coefficients were, as expected, positive for the remaining four variables (Non-personal factors, Infrastructure, Loan, Information) but statistically insignificant. It can be concluded that the low impact of some variables included in the model, such as the NPERF requires more investigation or to be interpreted with some degree of caution, as the result was not expected and was inconsistent with the findings of some other empirical studies such as Klein et al (2017) Onofrei and Anghel (2012). Finally, the results indicated that the value of the coefficient of INFR was, as expected, positive but statistically insignificant and this was inconsistent with the finding reached by Cordera et al (2018).…”

“…Another study conducted by Cerutti et al (2017) examined housing finance and real-estate booms and they found that they were strongly linked. However, this finding varied from one country to another based on the prevailing loan to value ratios (Bian et al, 2018;Carmichael and Coën, 2018;Hashmat and Rouillard, 2017;Sakr-Tierney, 2017;Christopoulos and Barratt, 2016;Shen and Yin, 2016;Owusu-Manu et al, 2015;Wu et al, 2015;Onofrei and Anghel, 2012).…”

Гармоничное Развитие Недвижимого Имущества

“…2. основы модели процесса развития недвижимости а. каклаускас, р. дарГис, и. убарте В настоящее время в мире создано немало теорий, методов и систем анализа процесса жизненного цикла развития недвижимости их компонентов (Lai et al 2014, Eppinger et al 2013, Bulan et al 2009, Zimmermann et al 2014, Wijk et al 2014, Lin et al 2014, Wang 2014, Carpenter 2014, Orth 2014, Geipele 2013, Onofrei and Anghel 2012, Liu and Chen 2011, Sidawi and Meeran 2011, Almarri and Blackwell 2014, Hui and Chan 2014, Jain 2014, Minli et al 2012, Zheng 2013, Barros et al 2013, Qian et al 2013, Rizzo 2013, Velde 2013, Clapp et al 2012, Abdulaal 2012, Yung 2011, England 2013, Turnbull 2010, Arku et al 2011, Liu et al 2012, Mak et al 2007, Li et al 2010, Han 2010, Ferguson and Smets 2010.…”