Tveganje in donosnost v stanovanjskih investicijah

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Language:	Slovenian
Year of publishing:	2012
Source:	Ljubljana
Typology:	2.09 - Master's Thesis
Organization:	UL FGG - Faculty of Civil and Geodetic Engineering
Publisher:	[M. Petelin]
UDC:	332.6.003.13(043.3)
COBISS:	5902177
Views:	2120
Downloads:	440
Average score:	0 (0 votes)
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Secondary language:	English
Secondary title:	Risk and profitability in residental investments
Secondary abstract:	The Master’s thesis discusses risk and profitability in residential investments in different Slovenian regions. In today’s modern and dynamic business world, the question how to find risk and profitability in residential investments is becoming a burning issue. The financial theory about risk and profitability was developed in the late 1950s out of institutional investors’ needs. In the thesis, that theory was upgraded by using different investment criteria and elementary tools to value risk and profitability in residential investments. Special attention is paid to the characteristics of real estate investment, profitability of residential investments and previous residential offer in Slovenia, because the hypothesis is that the profitability and risk in a portfolio composed only of different residential types, is higher in central Slovenian region than in other regions. A questionnaire carried out among randomly selected landlords gave us all the necessary data for risk analysis and profitability in residential investments in different Slovenian regions and data about residential offer in Slovenia. The analysis showed which residential real estates are the most profitable. Expected profitability and risk index in several regions according to a simulation scenario was also defined. In the following chapters, upgraded investment possibilities into residential real estate through residential portfolios are presented. Some combinations offer an optimal ratio between profitability and risk. Data about risk and profitability are needed when making investments in real estate (portfolio composed of real estate) as well as mixed investments (portfolio composed of real estate, stocks and debenture shares). To assure high profitability of investment in real estate, a choice of optimal real estate portfolios is suggested. Residential real estate in central Slovenian region has negative profitability. Therefore, our hypothesis that the profitability and risk in a portfolio composed only of different residential types is higher in central Slovenian region than in other regions can be rejected.
Secondary keywords:	civil engineering;master of science thesis;risk;profitability;residential real estate;residential investments;real estate portfolio;
File type:	application/pdf
Type (COBISS):	Master's thesis
Thesis comment:	Univ. v Ljubljani, Fak. za gradbeništvo in geodezijo, Komunalna smer
Pages:	XVIII, 212 str., [50] str. pril
Type (ePrints):	thesis
Title (ePrints):	Risk and profitability in residental investments
Keywords (ePrints):	tveganje;donosnost;stanovanjske nepremičnine;stanovanjske naložbe;nepremičninski portfelj
Keywords (ePrints, secondary language):	risk;profitability;residential real estate;residential investments;real estate portfolio
Abstract (ePrints):	V magistrskem delu obravnavamo tveganje in donosnost v stanovanjskih naložbah po posameznih regijah v Sloveniji. Ugotavljanje tveganja in donosnosti v stanovanjskih naložbah je v vse bolj dinamičnem poslovnem svetu vedno bolj aktualna tema. Finančna teorija o tveganju in donosnosti je nastala v poznih 50. letih prejšnjega stoletja, za potrebe institucionalnih naložbenikov. Takrat zasnovano finančno teorijo smo nadgradili z uporabo različnih naložbenih kriterijev in osnovnih orodij za ocenjevanje tveganja in donosnosti v stanovanjskih naložbah. Ker zagovarjamo tezo, da sta donosnost in tveganje v portfelju, sestavljenem samo iz različnih tipov stanovanj, večja v osrednjeslovenski kot v ostalih regijah po državi, smo posebno pozornost posvetili lastnostim nepremičninske naložbe, donosnosti stanovanjskih naložb in dosedanji stanovanjski ponudbi v Sloveniji. S pomočjo izvedene ankete med naključnimi ponudniki najemnih stanovanj smo zajeli potrebne podatke za analizo tveganja in donosnosti v stanovanjskih naložbah po posameznih regijah in podali ugotovitve o trenutni stanovanjski ponudbi v državi. Z omenjeno analizo smo ugotovili najdonosnejše stanovanjske nepremičnine ter jim skladno s predpostavljenim scenarijem določili pričakovano donosnost in kazalnike tveganja po posameznih regijah. V nadaljevanju smo naložbene možnosti v stanovanjske nepremičnine nadgradili s tvorjenjem stanovanjskih portfeljev, izmed katerih nam posamezne kombinacije nudijo optimalno razmerje med donosnostjo in tveganjem. Podatke o donosnosti in tveganju potrebujemo tako v sestavljanju nepremičninske (portfelj, sestavljen iz nepremičnin) ali mešane naložbe (portfelj, sestavljen iz nepremičnin, delnic, obveznic). Za zagotovitev visoke donosnosti nepremičninske naložbe predlagamo izbiro optimalnih nepremičninskih portfeljev. Rezultat dela je ovržena hipoteza, da sta donosnost in tveganje v portfelju, sestavljenem samo iz različnih tipov stanovanj, večja v osrednjeslovenski kot v ostalih regijah po državi, saj nam stanovanjske nepremičnine v osrednjeslovenski regiji izkazujejo negativno donosnost.
Abstract (ePrints, secondary language):	The Master’s thesis discusses risk and profitability in residential investments in different Slovenian regions. In today’s modern and dynamic business world, the question how to find risk and profitability in residential investments is becoming a burning issue. The financial theory about risk and profitability was developed in the late 1950s out of institutional investors’ needs. In the thesis, that theory was upgraded by using different investment criteria and elementary tools to value risk and profitability in residential investments. Special attention is paid to the characteristics of real estate investment, profitability of residential investments and previous residential offer in Slovenia, because the hypothesis is that the profitability and risk in a portfolio composed only of different residential types, is higher in central Slovenian region than in other regions. A questionnaire carried out among randomly selected landlords gave us all the necessary data for risk analysis and profitability in residential investments in different Slovenian regions and data about residential offer in Slovenia. The analysis showed which residential real estates are the most profitable. Expected profitability and risk index in several regions according to a simulation scenario was also defined. In the following chapters, upgraded investment possibilities into residential real estate through residential portfolios are presented. Some combinations offer an optimal ratio between profitability and risk. Data about risk and profitability are needed when making investments in real estate (portfolio composed of real estate) as well as mixed investments (portfolio composed of real estate, stocks and debenture shares). To assure high profitability of investment in real estate, a choice of optimal real estate portfolios is suggested. Residential real estate in central Slovenian region has negative profitability. Therefore, our hypothesis that the profitability and risk in a portfolio composed only of different residential types is higher in central Slovenian region than in other regions can be rejected.
Keywords (ePrints, secondary language):	risk;profitability;residential real estate;residential investments;real estate portfolio
ID:	8312502