A Generalised Model of Ground Lease Pricing
PBN-AR
Instytucja
Wydział Finansów i Bankowości (Wyższa Szkoła Bankowa w Poznaniu)
Informacje podstawowe
Główny język publikacji
angielski
Czasopismo
Sustainability (20pkt w roku publikacji)
ISSN
EISSN
2071-1050
Wydawca
MDPI (Multidisciplinary Digital Publishing Institute)
DOI
URL
Rok publikacji
2018
Numer zeszytu
10
Strony od-do
1-21
Numer tomu
Identyfikator DOI
Liczba arkuszy
1,26
Autorzy
(liczba autorów: 4)
Pozostali autorzy
+ 3
Słowa kluczowe
angielski
ground lease
ground rent
perpetual usufruct
Streszczenia
Język
angielski
Treść
In this paper, we present a generalization of Mandell’s model for the estimation of groundlease pricing. We adjust the model so that it fits, in particular, the Polish legal regulations andsituation of the Polish real estate market. The model involves two aspects. The first is the perpetualusufruct, a form of owning the ground similar to a long-term lease, but having some specific features.The second is allowing lease rent adjustments after some fixed period, meaning we consider thesituation where the payments are fixed during certain periods as defined in the contract. The proposedmodel determines the minimum lease amount for the owner, which is the rate at which it is beneficialto lease the property, and the maximum for the lessee, which is the amount above which the lease isunprofitable for the leaseholder or perpetual usufruct.
Inne
System-identifier
PX-5c000db6d5de732bcc9a2e6d