Difference between revisions of "Development of real estate prices in Prague"
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[https://www.czso.cz/csu/czso/graf-zive-narozeni-a-zemreli-v-ceske-republice] | [https://www.czso.cz/csu/czso/graf-zive-narozeni-a-zemreli-v-ceske-republice] | ||
===Natality=== | ===Natality=== | ||
| − | Initial value is based on data from Czech statistical office and it is set to '''0,0105'''. | + | Initial value is based on data from Czech statistical office and it is set to '''0,0105'''.[https://www.czso.cz/csu/czso/graf-zive-narozeni-a-zemreli-v-ceske-republice] |
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===Emigration=== | ===Emigration=== | ||
This rate was calculated as emigrants / population. That is 21 300/10 707 839 = '''0,002'''. | This rate was calculated as emigrants / population. That is 21 300/10 707 839 = '''0,002'''. | ||
Revision as of 22:00, 20 January 2021
In progress
Name: Development of real estate prices in Prague
Author: Petr Netolický, netp02, 19.1.2021
Used tool: Vensim PLE 8.2.0
Problem definition
Every year, the price of real estate in Prague increases rapidly. As a result, young families can no longer afford to buy an apartment in the center of Prague, including a mortgage, and have to move to more educated villages and towns around Prague. The purpose of this simulation is to show trends and development of prices for flats, houses, and other real estates in Prague for next ten years based on real historical data available on the Czech statistical office. The aspectes which are taken into count are the influence of the investors, mortgage rates, population, lack of flats and others.
Method
The Vensim tool is used to simulate the problem. In this tool, it is possible to simulate the development of real estate in Prague over the next ten years.
Model
Variables
Population
Population of the Czech Republic. This is a data from September 30, 2020, initial value 10 707 839 [1]
Mortality
Initial value is based on data from Czech statistical office and it is set to 0,0105. [2]
Natality
Initial value is based on data from Czech statistical office and it is set to 0,0105.[3]
Emigration
This rate was calculated as emigrants / population. That is 21 300/10 707 839 = 0,002. [4]
Imigration
This rate was calculated as immigrants / population. That is 65 600/10 707 839 = 0,006. [5]
Population increase
Population growth in the Czech Republic. Calculated over the equation: Natality * Population * Immigration
Population decrease
Population decrease in the Czech Republic. Calculated over the equation: Mortality * Population * Emigration
Unemployment rate
Rate of unemployment people in Czech republic. It is in about 277 015 people, which is set to 0,038. [6]
Inflantion
The initial value of inflation was set on 0,03. [7]
GDP of Czech republic
Initial value is set to 0,95. [8]
Price of real estates
Initial value is set on 94 300 kč/m2. [9]
Price of real estates growth
Price of real estates decrease
Mortages rates Fio bank with 5 year of fixation - 1,68 %. This value was set in simulation. [10] Quantitative easing
Lack of flats
Abudance of flats
Investors
Results
