Christopher Oertel studies the impact of public policy measures on the German real estate market and confirms the assumptions, which imply that a city can influence its economic position in relation to nearby cities in the short run by making use of this tax instrument. His analyses begin with an examination of the German residential real estate market from a consumption good perspective. The findings indicate that the home-ownership allowance had a distorting effect by capitalizing into residential real estate prices, although at lower than expected rates. Then the author studies the German residential real estate market from an investment good perspective. Investigating an important amendment of the German tenancy legislation, there is a positive, yet insignificant relationship between the tenancy law reform act and the development of the cap rate. The analysis is completed by focussing on the German office market and investigating how its rental levels and gross purchase prices are affected by changes in the municipal trade tax multiplier.

This is an open access book.The 3rd International Conference on Economic Development and Business Culture (ICEDBC 2023) will be held in Dali on June 30–July 2, 2023. ICEDBC 2023 is annual conference since 2021. It was held in Xiamen, Dali from 2021 to 2022. Every year, there are many attendees from Asia, Europe, America, etc., and quite a few well-known experts give plenary speeches. Business culture is an organic and important part of the social culture system, it is the comprehensive reflection and expression of national culture and modern consciousness in business behavior, and is formed under the influence of national culture and modern consciousness with modern business characteristics and group consciousness as well as the behavior norms generated by this consciousness. For business, one hand on the economy, the other on culture, will certainly promote China's business towards modernization in a big step. The day when business culture is flourishing is the day when business economy is flourishing. Business culture plays a fundamental and decisive role in economic development, providing adequate basic support and supporting services for business activities. Business culture regulates business behavior, regulates business relationships, and influences the way of thinking in economic operation. Business culture promotes economic development through the shaping of people's pattern realm, entrepreneurship and integrity spirit. Business culture plays the role of "adhesive, catalyst and lubricant" for economic development by constructing and practicing value creation in business management and business transactions. ICEDBC2023 aims to explore the role of business culture in promoting economic development and to thoroughly analyze how to use its economic functions more effectively. ICEDBC 2023 warmly invite you to participate in and look forward to seeing you in Dali, China.

Understanding the relationship between urban amenities and real estate prices is a key for the future of our cities. Location choices depend on a variety of urban amenities that eventually determine demand for a specific location. Identifying the impact of these urban amenities on the people’s preferences allows policy makers and developers to increase quality of life. Jan de Graaff therefore quantifies the impact of crime and migration on residential real estate prices and identifies the location choice preferences of Germans by applying innovative methodologies to unique German data sets.

In this book, experts discuss how German real estate values have remained stable throughout the financial crisis, even though transaction volumes have been very volatile since 2005. Consequently, risk-averse national and international investors have started to invest in virtually all German real estate asset classes. This book tries to answer what has made the German real estate markets more resilient to shocks than many European real estate markets by analyzing the economic, regulatory and demographic environment. In 30 well-structured chapters, experts from both the academic and professional world analyze structural and current issues of German real estate markets. Readers will get a deep understanding of what makes the German real estate market special and where potential opportunities and threats in Europe’s largest real estate market exist.

The challenges faced by the public sector are many and varied. Civil services at the forefront of tackling pressing problems in a whole range of areas from climate change to income inequality are being allocated less money to do so. This collection explores how public sectors have adapted to address the demands placed on them in the 21st Century.

How do Airbnb and short-term rentals affect housing and communities? Locating the origins and success of Airbnb in the conditions wrought by the 2008 financial crisis, the authors bring together a diverse body of literature and construct case studies of cities in the US, Australia and Germany to examine the struggles of local authorities to protect their housing and neighborhoods from the increasing professionalization and commercialization of Airbnb. The book argues that the most disruptive impact of Airbnb and short-term rentals has been on housing and neighborhoods in urban centers where housing markets are stressed. Despite its claims, Airbnb has revealed itself as platform capitalism, incentivizing speculation in residential housing. At the heart of this trajectory is its business model and control over access to data. In a first narrative, the authors discuss how Airbnb has institutionalized short-term rentals, consequently removing long-term rentals, contributing to rising rents and changing neighborhood milieus as visitors replace long-term residents. In a second narrative the authors trace the transformation of short-term rentals into a multibillion-dollar hybrid real estate sector promoting a variety of flexible tenure models. While these models provide more options for owners and investors, they have the potential to undermine housing security and exacerbate housing inequality. While the overall effects have been similar across countries and cities, depending on housing systems, local response has varied from less restrictive in Australia to increasingly restrictive in the United States and most restrictive in Germany. Although Airbnb has made some concessions, it has not given any city the data needed to efficiently enforce regulations, making for costly externalities. Written in a clear and direct style, this volume will appeal to students and scholars in Urban Studies, Urban Planning, Housing and Tourism Studies.

Shortly before of the beginning of the global financial crisis of 2008 REITs were introduced in several European countries based on their success in mature markets like the US, Australia and some Asian countries. While the history of REITs in Europe has been relatively brief, REITs are well on the way to become an industry standard as a real estate investment financial vehicle not only in Europe but throughout the developed world. This book provides both academics and decision makers an introduction to the economics of REITs beyond tax transparency, an overview of the mature REITs markets, and a closer reflection of the development of different REIT-structures in Europe including the history, regulation and markets of each country.