Hlavn\u00fdm probl\u00e9mom rusky hovoriacich investorov \u2014 h\u013eadanie optim\u00e1lnych (z h\u013eadiska rizika a n\u00e1vratnosti) objektu pre invest\u00edcie. Nonresidential nehnute\u013enost\u00ed, komer\u010dn\u00fdch nehnute\u013enost\u00ed zvy\u010dajne nie s\u00fa k dispoz\u00edcii pre be\u017en\u00fdch investorov, preto\u017ee jeho vysok\u00e1 cena, tak v\u00e4\u010d\u0161ina z\u00e1kazn\u00edkov k\u00fapi\u0165 b\u00fdvanie za pren\u00e1jom. Byty na predaj a pren\u00e1jom pre dlhodob\u00fd pren\u00e1jom m\u00e1 zjavn\u00e9 v\u00fdhody \u2014 v prvom rade je jednoduch\u00e9 spravova\u0165, ale s\u00fa tu aj nev\u00fdhody, ako napr\u00edklad relat\u00edvne n\u00edzky v\u00fdnos (o 3 %) a probl\u00e9my s vys\u0165ahovanie n\u00e1jomn\u00edkov, ak je to potrebn\u00e9.<\/p>\n
Minim\u00e1lne z h\u013eadiska straty, cestu pre invest\u00edcie \u2014 \u0161tudent, ubytovanie, druh „Zlat\u00fa stredn\u00fa cestu“ trhu nehnute\u013enost\u00ed. O dobr\u00fa vo\u013ebu z h\u013eadiska bilancie riziko\/n\u00e1vratnos\u0165. Pravdou je, \u017ee iba 5 % z rusk\u00fdch investorov vzh\u013eadom invest\u00edcie v tomto type majetku, zatia\u013e \u010do v zahrani\u010d\u00ed je to u\u017e dlho pova\u017eovan\u00fd za jeden z najviac ziskov\u00e9 a s\u013eubne.<\/p>\n
Od roku 2012, zahrani\u010dn\u00ed investori investuj\u00fa ro\u010dne v \u0161tudentsk\u00e9 apartm\u00e1ny pre najmenej $6 mili\u00e1rd \u2014 a to je len po\u010d\u00edtanie ve\u013ek\u00fdch obchodov (viac ako $7.5 mili\u00f3na eur). Ak\u00e9 s\u00fa v\u00fdhody tak\u00e9hoto n\u00e1stroja?<\/p>\n
Po prv\u00e9, po\u010det \u0161tudentov rastie vo svete<\/strong>. Pod\u013ea OECD (Organiz\u00e1cia pre hospod\u00e1rsku spolupr\u00e1cu a rozvoj), po\u010det \u013eud\u00ed, ktor\u00ed \u0161tuduj\u00fa v zahrani\u010d\u00ed sa zv\u00fd\u0161il z 2 mili\u00f3nov v roku 2000 na 4,5 mili\u00f3na eur v roku 2012, a do roku 2025 sa ich po\u010det dosiahne 8 mili\u00f3nov \u013eud\u00ed. Okrem toho, rast strednej triedy a n\u00e1rast po\u010dtu bohat\u00fdch \u013eud\u00ed v rozv\u00edjaj\u00facich sa ekonomik\u00e1ch (najm\u00e4 z \u010c\u00edny) znamen\u00e1 aj zv\u00fd\u0161enie dopytu po \u0161tudent pren\u00e1jom ubytovania.<\/p>\n Vysok\u00fd dopyt znamen\u00e1, \u017ee riziko invest\u00edci\u00ed do \u0161tudentsk\u00fdch bytov je ni\u017e\u0161ia ako pri investovan\u00ed do nehnute\u013enost\u00ed. Tak\u017ee, pre office n\u00e1jomn\u00edkov je silne ovplyvnen\u00e9 ekonomickou situ\u00e1ciou, a \u0161tudenti potrebuj\u00fa b\u00fdvanie v\u017edy, dokonca aj v \u010dasoch kr\u00edzy.<\/p>\n Po druh\u00e9, \u0161tudentsk\u00e9 apartm\u00e1ny v\u00fdnos vy\u0161\u0161\u00ed<\/strong>ako v\u00fdnos z konven\u010dn\u00fdch apartm\u00e1ny, vzdan\u00edm v dlhodobom horizonte. V dobrom oblasti Eur\u00f3pskych mest\u00e1ch \u0161tudent vlastn\u00edctva prin\u00e1\u0161a v priemere o 4 a\u017e 6% ro\u010dne, zatia\u013e \u010do konven\u010dn\u00e9 b\u00fdvanie je 2-3 %. V\u00fdnos m\u00f4\u017ee by\u0165 vy\u0161\u0161ie alebo ni\u017e\u0161ie 4-6%, v z\u00e1vislosti na tom, ako ve\u013ek\u00e9 Univerzity je v okol\u00ed, ako \u010faleko je to od University sa nach\u00e1dza a ako s\u00fa vysokokvalitn\u00e9 a modern\u00e9. Preto, vy\u0161\u0161ia kvalita a lep\u0161ie miesto, zn\u00ed\u017ei\u0165 rizik\u00e1 a vy\u0161\u0161ej ziskovosti.<\/p>\n Po tretie, invest\u00edcie do \u0161tudentsk\u00e9 apartm\u00e1ny maj\u00fa n\u00edzky prah vst\u00fapi\u0165 na trh<\/strong>. K\u00fapi\u0165 apartm\u00e1ny za cenu \u20ac90 000 \u2013 100 000 ale pre invest\u00edcie v celej stavby bude potrebova\u0165 \u20ac15 a\u017e 30 mili\u00f3nov eur. Napr\u00edklad, investori m\u00f4\u017eu k\u00fapi\u0165 nov\u00fd \u0161tudent apartm\u00e1ny s rozlohou 17-23 m2 \u00a370 000 \u2013 100 000 v Liverpoole. Vr\u00e1ti\u0165 (bez odpo\u010d\u00edtania v\u00fddavkov) bude 7 %, alebo \u00a34 900 eur ro\u010dne s n\u00e1kupom \u0160t\u00fadio pre \u00a370 000. N\u00e1kupy rozpo\u010dtu m\u00f4\u017ee by\u0165 zn\u00ed\u017een\u00e1 na polovicu, ak pou\u017e\u00edvate hypotek\u00e1rneho \u00faveru. T\u00ed s ve\u013ek\u00fdmi rozpo\u010dtami bude z\u00e1ujem o k\u00fapu cel\u00e9ho hostel. Tak\u017ee, pre \u20ac14.7 mili\u00f3nov k\u00fapi\u0165 \u0161tudent komplex na sto apartm\u00e1ny v Norimbergu. V\u00fdnos 4,9 %, alebo za \u20ac720 000 eur ro\u010dne.<\/p>\n \u010eal\u0161ie plus \u2014 pas\u00edvne ovl\u00e1danie<\/strong>. Pre podnikate\u013eov v Rusku, v z\u00e1mor\u00ed majetku \u2014 \u00faspory na n\u00e1stroj, nie ako hlavn\u00fd zdroj pr\u00edjmov, a nemaj\u00fa \u010das na spravovanie. Pri investovan\u00ed na \u0161tudentsk\u00fd byt riadenia vykon\u00e1va spr\u00e1vcovsk\u00e1 spolo\u010dnos\u0165, ktor\u00e1 je zvy\u010dajne v\u00fdvoj\u00e1rov, ktor\u00ed postavili ubytovni, investor nie je potrebn\u00e9 prem\u00fd\u0161\u013ea\u0165 o rie\u0161en\u00ed r\u00f4znych probl\u00e9mov (h\u013eadan\u00ed n\u00e1jomn\u00edkov, opravy, at\u010f.). N\u00e1klady na slu\u017eby mana\u017ementu podniku \u2014 cca 10% z pr\u00edjmov z pren\u00e1jmu.<\/p>\n \u00da\u010das\u0165 v co-investi\u010dn\u00e1 v\u00fdstavba bytov\u00fdch komplexov v Eur\u00f3pe pre s\u00fakromn\u00fdch investorov znamen\u00e1 pas\u00edvne invest\u00edcie (riadenie, ktor\u00e9 spravuje spr\u00e1vcovsk\u00e1 spolo\u010dnos\u0165), pri\u010dom kupuj\u00faci obdr\u017e\u00ed pr\u00edjmov, nie len z n\u00e1jomn\u00e9ho, ale z prestavbu.<\/p>\n Ako v\u0161ak s invest\u00edciami v akomko\u013evek inom type majetku, invest\u00edci\u00ed v \u0161tudentsk\u00e9 ubytovanie m\u00e1 svoje rizik\u00e1. Napr\u00edklad, \u0161tudent apartm\u00e1ny \u0165a\u017ek\u00e9 (alebo sk\u00f4r nemo\u017en\u00e9), ktor\u00fa chcete previes\u0165, preto\u017ee sa nach\u00e1dza v \u0161pecializovan\u00fdch komplexov v bl\u00edzkosti univerzity a m\u00f4\u017eu \u017ei\u0165 len pre \u0161tudentov. Investori sami nie s\u00fa schopn\u00ed pou\u017e\u00edva\u0165 apartm\u00e1n pre ich pobytu, a b\u00fdva v nich niekoho, kto nie je \u0161tudent. A ak apartm\u00e1n nie je umiestnen\u00e9 na najviac popul\u00e1rne na trhu a dopyt po tejto Univerzite padol, vlastn\u00edk bude \u0165a\u017ek\u00e9 preda\u0165.<\/p>\n Likvidity \u0161tudent bytov je ni\u017e\u0161ia ako likviditu be\u017en\u00e9 byty, ale vy\u0161\u0161ia ako nebytov\u00e9 priestory.<\/p>\n Je d\u00f4le\u017eit\u00e9 pochopi\u0165, \u017ee \u0161tudentom ubytovanie v \u0161tudentsk\u00fdch domovoch nie je to ist\u00e9 ako oby\u010dajn\u00e9 reziden\u010dn\u00fdch bytov v bytov\u00fdch domoch. V\u00fdvoj\u00e1ri \u010dasto pou\u017e\u00edvaj\u00fa na nesk\u00fasenos\u0165 investorov a propagova\u0165 \u0160t\u00fadiov\u00e9 apartm\u00e1ny v bytov\u00fdch domoch v oblastiach v bl\u00edzkosti univerzity ako \u0161tudent apartm\u00e1ny. Rozdiel je, \u017ee dokumenty by mali by\u0165 uveden\u00e9, \u017ee objekt m\u00f4\u017ee by\u0165 pou\u017eit\u00fd iba ako \u0161tudent pobytu a \u017ei\u0165 v budove m\u00f4\u017eu iba vysoko\u0161kolsk\u00ed \u0161tudenti.<\/p>\n Ako u\u017e bolo spomenut\u00e9 vy\u0161\u0161ie, v\u00fdnos z \u0161tudentsk\u00e9 apartm\u00e1ny je 4-6 %. Ak pred\u00e1vaj\u00faci s\u013eubuje vysok\u00fd v\u00fdnos (9-10% alebo vy\u0161\u0161\u00ed), je ve\u013emi pravdepodobn\u00e9, \u017ee invest\u00edcie bud\u00fa spojen\u00e9 s dodato\u010dn\u00fdm rizik\u00e1m \u2014 neatrakt\u00edvne miesto, a teda n\u00edzkeho dopytu, zl\u00fd mana\u017ement alebo zhor\u0161enie budov. Ak sa chcete sami ochr\u00e1ni\u0165 od najnov\u0161\u00edch riziko \u2014 n\u00edzka kvalita objektu a jeho zastaranos\u0165 \u2014 odpor\u00fa\u010da sa k\u00fapi\u0165 nov\u00e9 predmety. Najlep\u0161ie miesto na k\u00fapu bytov v prim\u00e1rnom trhu, ako s n\u00e1kupom druh\u00fd domov r\u00fdchlo tam s\u00fa n\u00e1klady na opravu, ktor\u00e9 zv\u00fd\u0161ia ziskovos\u0165.<\/p>\n K\u00fapi\u0165 ziskov\u00e9 \u0161tudentsk\u00e9 ubytovanie v BRIT\u00c1NII, Nemecku a Franc\u00fazsku. Tieto trhy s\u00fa spo\u013eahliv\u00e9 a maj\u00fa vysok\u00fd dopyt zo strany miestnych a zahrani\u010dn\u00fdch \u0161tudentov (podiel ten je 10-20% z celkov\u00e9ho po\u010dtu \u017eiakov). Pr\u00edle\u017eitosti pre s\u00fakromn\u00fdch investorov na trhoch Rak\u00fasku, \u0160panielsku a vo \u0160vaj\u010diarsku je obmedzen\u00fd, preto\u017ee tam s\u00fa objekty st\u00e1le vo f\u00e1ze n\u00e1vrhu k\u00fapil investorov a finan\u010dn\u00fdch prostriedkov. Ako pre N\u00c1S \u2014 najv\u00e4\u010d\u0161\u00ed trh \u0161tudentsk\u00e9 apartm\u00e1ny, n\u00e1vrh je nadmern\u00fd, potenci\u00e1lne zv\u00fd\u0161enie pren\u00e1jom sadzieb je obmedzen\u00fd, a dokonca aj miestnych investorov st\u00e1do na Eur\u00f3pskych trhoch v h\u013eadan\u00ed lukrat\u00edvne ponuky.<\/p>\n D\u00f4vod, pre\u010do je potrebn\u00e9 venova\u0165 pozornos\u0165 pr\u00edtomnosti „magnet“ \u2014 sa nach\u00e1dza v bl\u00edzkosti popul\u00e1rne Univerzity, ako aj nedostatok nadmern\u00e1 ponuka v miestnej pren\u00e1jom trhu, kde \u0161tudentsk\u00e9 apartm\u00e1ny, m\u00f4\u017eete s\u00fa\u0165a\u017ei\u0165 s ve\u013ek\u00fdm po\u010dtom s\u00fakromn\u00fdch apartm\u00e1noch, a v\u00fdnos negat\u00edvny vplyv pren\u00e1jom n\u00edzke ceny.<\/p>\n D\u00f4le\u017eit\u00e1 je tie\u017e demografickej situ\u00e1cie \u2014 ako rastie a bude r\u00e1s\u0165 po\u010det \u0161tudentov v meste. Ak po\u010det \u0161tudentov, ktor\u00ed sa nemen\u00ed, alebo sa zni\u017euje, ale v\u00fdstavba nov\u00fdch ko\u013eaj\u00ed a zariaden\u00ed, obsadenos\u0165 sadzba je n\u00edzka, byt bude pr\u00e1zdne, a invest\u00edcie neprinesie zisk. Napr\u00edklad v Nemecku sa po\u010det \u0161tudentov rastie takmer v\u0161ade, ale s\u00fa tu mest\u00e1, ako Jene a Greifswald, kde sa po\u010det \u017eiakov v priebehu piatich rokov sa zn\u00ed\u017eil o 10-11 %.<\/p>\n V UK pre invest\u00edcie v \u0161tudentsk\u00e9 apartm\u00e1ny s\u013eubn\u00e9 hlavn\u00fdch Univerzitn\u00fdch centier s nedostato\u010dn\u00fd pr\u00edvod b\u00fdvanie, ako Bristol, Lond\u00fdn, Oxford a Edinburghu, a Manchester. V Nemecku potenci\u00e1l miest v Bavorsku (w\u00fcrzburg, Norimberg, Passau), ako aj v Heidelbergu a vo Frankfurte nad mohanom. Vo Franc\u00fazsku dobr\u00e9 investi\u010dn\u00e9 pr\u00edle\u017eitosti s\u00fa v mest\u00e1ch AIX-EN-Provence, Lille, Montpellier, Pessac, Marseille, \u0160trasburgu.<\/p>\n Lifehack pre investorov \u2014 medzi prv\u00fdmi, aby vedeli, kde a kedy sa bude otv\u00e1ra\u0165 v novej fakulty alebo Univerzity, a k\u00fapi\u0165 po\u010det bytov.<\/p>\n Napr\u00edklad, na konci roku 2017 sa za\u010dne v\u00fdstavba are\u00e1lu v Cardiffe, a v\u010faka projektu sa na miestnu Univerzitu bude pri\u0165ahova\u0165 ako 2 000 \u0161tudentov z cel\u00e9ho sveta. A do roku 2019 v Severnom predmest\u00ed Par\u00ed\u017ea otvor\u00ed Eur\u00f3pa je najv\u00e4\u010d\u0161\u00ed are\u00e1l fakulty soci\u00e1lnych Vied, v ktorej chcete pracova\u0165 a \u0161tudova\u0165 u\u010ditelia a \u017eiaci z viacer\u00fdch univerz\u00edt.<\/p>\n S \u0161\u00edrenie Internet techniky rastie v popularite, je k\u00fapi\u0165 di\u0161tan\u010dn\u00e9ho vzdel\u00e1vania, ale tradi\u010dn\u00e9 formy vzdel\u00e1vania zostane zameranie \u0161tudentov v nadch\u00e1dzaj\u00facich desa\u0165ro\u010diach. A preto, \u0161tudentsk\u00e9 apartm\u00e1ny v bl\u00edzkosti Univerzity bude st\u00e1le popul\u00e1rny.<\/p>\n Georgij Kachmazov, managing partner Tranio<\/p>\n","protected":false},"excerpt":{"rendered":" Hlavn\u00fdm probl\u00e9mom rusky hovoriacich investorov \u2014 h\u013eadanie optim\u00e1lnych (z h\u013eadiska rizika a n\u00e1vratnosti) objektu pre invest\u00edcie. Nonresidential nehnute\u013enost\u00ed, komer\u010dn\u00fdch nehnute\u013enost\u00ed<\/p>\n","protected":false},"author":1,"featured_media":468,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[152],"tags":[],"class_list":["post-2375","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-danove-informacie-vo-francuzsku"],"translation":{"provider":"WPGlobus","version":"3.0.0","language":"sk","enabled_languages":["ru","uk","en","de","fr","it","es","pl","pt","bg","cs","da","et","fi","hr","hu","lt","lv","mk","no","ro","sk","sl","sq","sr","tr","nl","am","ca","sv"],"languages":{"ru":{"title":false,"content":false,"excerpt":false},"uk":{"title":false,"content":false,"excerpt":false},"en":{"title":false,"content":false,"excerpt":false},"de":{"title":false,"content":false,"excerpt":false},"fr":{"title":false,"content":false,"excerpt":false},"it":{"title":false,"content":false,"excerpt":false},"es":{"title":false,"content":false,"excerpt":false},"pl":{"title":false,"content":false,"excerpt":false},"pt":{"title":false,"content":false,"excerpt":false},"bg":{"title":false,"content":false,"excerpt":false},"cs":{"title":false,"content":false,"excerpt":false},"da":{"title":false,"content":false,"excerpt":false},"et":{"title":false,"content":false,"excerpt":false},"fi":{"title":false,"content":false,"excerpt":false},"hr":{"title":false,"content":false,"excerpt":false},"hu":{"title":false,"content":false,"excerpt":false},"lt":{"title":false,"content":false,"excerpt":false},"lv":{"title":false,"content":false,"excerpt":false},"mk":{"title":false,"content":false,"excerpt":false},"no":{"title":false,"content":false,"excerpt":false},"ro":{"title":false,"content":false,"excerpt":false},"sk":{"title":true,"content":true,"excerpt":false},"sl":{"title":false,"content":false,"excerpt":false},"sq":{"title":false,"content":false,"excerpt":false},"sr":{"title":false,"content":false,"excerpt":false},"tr":{"title":false,"content":false,"excerpt":false},"nl":{"title":false,"content":false,"excerpt":false},"am":{"title":false,"content":false,"excerpt":false},"ca":{"title":false,"content":false,"excerpt":false},"sv":{"title":false,"content":false,"excerpt":false}}},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/nalog.fr\/sk\/wp-json\/wp\/v2\/posts\/2375","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nalog.fr\/sk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nalog.fr\/sk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nalog.fr\/sk\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/nalog.fr\/sk\/wp-json\/wp\/v2\/comments?post=2375"}],"version-history":[{"count":0,"href":"https:\/\/nalog.fr\/sk\/wp-json\/wp\/v2\/posts\/2375\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nalog.fr\/sk\/wp-json\/wp\/v2\/media\/468"}],"wp:attachment":[{"href":"https:\/\/nalog.fr\/sk\/wp-json\/wp\/v2\/media?parent=2375"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nalog.fr\/sk\/wp-json\/wp\/v2\/categories?post=2375"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nalog.fr\/sk\/wp-json\/wp\/v2\/tags?post=2375"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}\u00daskalia<\/h2>\n
Kde k\u00fapi\u0165<\/h2>\n