A study of numerological superstitions in the apartments market
In this paper we study the influence of superstitions related to numbers 13 and 7 on people's buying behavior in the apartment market. A unique feature of our methodology is that we use real sales data instead of survey or pricing data. Based on the dataset from Saint-Petersburg primary real estate market we compare the share of sold apartments on floor 7 with that of on floors 6 and 8, whereas floor 13 is benchmarked to floors 12 and 14. As floors are comprised by exactly the same apartments we manage to isolate the effects of the “lucky” and “unlucky” numbers. We have found a significantly negative effect of the 13th (“unlucky”) floor on demand for apartments in new apartment houses, but no significant positive effect of the 7th (“lucky”) floor. Possible implications of this result and directions for future research are discussed.
This article examines the position of Russian state courts, in particular, of the Supreme Commercial Court, w i t h regard to the arbitrability of disputes concerning the transfer of title i n real estate and of corporate disputes under Russian law. These specific issues are dealt w i t h i n the light of the general approach of Russian courts to arbitration. Firstly, some necessary explanations are given in relation to Russian regulation, practice and attitude towards arbitration. Then, the approach of the Russian state commercial courts w i t h regard to the arbitrability of real estate and corporate disputes is described and compared w i t h their general attitude to arbitration manifested in Russian case law. Finally, the author's viewpoint on the possible concerns underlying the apparently incongruent stance of the commercial courts to the arbitrability of real estate and corporate disputes is discussed.
work is devoted to consideration of the main ideas, prerequisites and the purposes of institute of the state registration of the rights for real estate, is more whole than separate means and ways of achievement of these, to the analysis of legal problems in scope of the registration legislation of Russia and an assessment of prospects of his development
The book is devoted to non-residential buildings (premises) as objects of capital construction (real estate) and some types of urban development related to them. The purpose of the monograph is to analyze frequently encountered questions in practice at the intersection of private and public norms, sometimes without simple answers and solutions. All issues discussed in this monograph are at the intersection of several branches of law: civil law, urban planning law, land law, tax law . In relation to the subject of the study, the issues of cadastral registration and registration of property rights on real estate in the Unified State Register of Real Estate are examined. Some issues affect accounting.
The article is devoted to the analysis of results of application profitable and cost-based approaches to estimation of cost of the real estate objects which frequently appears much below their real market prices. Opportunities of the comparative approach use to an estimation of the real estate objects are considered, allowing to receive parameters of a real supply and demand in the market, and also in its frameworks of a mark method as alternatives of existing ways of an estimation.
Characteristics is given to the concepts “housing”, “residential premise”; legal category “residential premise” is considered from the point of view of embodiment of national (basic) standard housing, established by the State; system of viewpoint of European Court in Human Rights under the name “concept of housing” developing from authority to authority is being analyzed; the issue of diffusion of inter-subject concepts “housing” and “residential premise” in connection with the process of State integration into common legal and economic European space is being considered; the shortcomings of legal definition “residential premise” are being disclosed, as not reflecting its essence, purposefulness and variety of forms of its existence; in this respect the main conclusion on introduction of changes into art.15 and 16 of Housing Code has been made.
The article raises the question of innovations in the field of real estate development in Russian Federation and ways of its potential development are considered.
To the best knowledge of authors, the use of Random forest as a potential technique for residential estate mass appraisal has been attempted for the first time. In the empirical study using data on residential apartments the method performed better than such techniques as CHAID, CART, KNN, multiple regression analysis, Artificial Neural Networks (MLP and RBF) and Boosted Trees. An approach for automatic detection of segments where a model significantly underperforms and for detecting segments with systematically under- or overestimated prediction is introduced. This segmentational approach is applicable to various expert systems including, but not limited to, those used for the mass appraisal.
The paper examines the structure, governance, and balance sheets of state-controlled banks in Russia, which accounted for over 55 percent of the total assets in the country's banking system in early 2012. The author offers a credible estimate of the size of the country's state banking sector by including banks that are indirectly owned by public organizations. Contrary to some predictions based on the theoretical literature on economic transition, he explains the relatively high profitability and efficiency of Russian state-controlled banks by pointing to their competitive position in such functions as acquisition and disposal of assets on behalf of the government. Also suggested in the paper is a different way of looking at market concentration in Russia (by consolidating the market shares of core state-controlled banks), which produces a picture of a more concentrated market than officially reported. Lastly, one of the author's interesting conclusions is that China provides a better benchmark than the formerly centrally planned economies of Central and Eastern Europe by which to assess the viability of state ownership of banks in Russia and to evaluate the country's banking sector.
The paper examines the principles for the supervision of financial conglomerates proposed by BCBS in the consultative document published in December 2011. Moreover, the article proposes a number of suggestions worked out by the authors within the HSE research team.