Purpose

This paper aims to analyse globalisation, localisation and glocalisation on the real estate market and define the characteristic features of a glocal real estate market (GREM). The GREM involves real estate properties and real estate products, as well as linking the local and global dimensions of real estate market. Further aims of the study were to provide a methodology for developing the glocal real estate market index (GREMI), and compare selected European markets by analysing their glocalisation potential.

Design/methodology/approach

A novel method of identifying and assessing the GREM was prepared in the work. The methodology provides tools for calculating the GREMI. This is an index based on a few dozen variables from various thematic scopes, describing the glocalisation potential of a selected market, calibrated to a range <0, 1>. GREMI values were calculated for 12 countries, which accessed European Union (EU) in 2004. The sample covers period from 2004 to 2017.

Findings

The study shows that the GREMI continues to increase in all countries over time and the results are becoming synchronised. Romania is a country with the highest number of minimum GREMI values in all years (2004–2017). The highest values of the GREMI were determined in Estonia over the period of nine years (2004–2006, 2008 and 2013–2017).

Research limitations/implications

The prepared index may be applied to analyse different real estate markets, though the necessity to select an identical set of variables for analysis to allow for comparing between markets is a limitation for applying the method. The actual selection of variables is also a study limitation, which was of an opening nature to research in this scope and may be disputable.

Originality/value

This paper provides the original methodology of the GREMI index for countries joining the EU from 2004 onwards.

中文翻译：

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全球本土房地产市场：来自欧洲国家的证据

目的

本文旨在分析房地产市场上的全球化，本地化和全球本地化，并定义全球本地房地产市场（GREM）的特征。GREM涉及房地产和房地产产品，并将房地产市场的本地和全球范围联系起来。这项研究的进一步目标是提供一种开发全球本地房地产市场指数（GREMI）的方法，并通过分析其本地化潜力来比较选定的欧洲市场。

设计/方法/方法

在工作中准备了一种识别和评估GREM的新方法。该方法提供了用于计算GREMI的工具。这是一个基于各种主题范围内的几十个变量的指数，描述了选定市场的全球定位潜力，已将其校准为<0，1>范围。计算了2004年加入欧盟（EU）的12个国家/地区的GREMI值。该样本涵盖2004年至2017年的时间。

发现

该研究表明，随着时间的流逝，所有国家的GREMI持续增加，结果正在保持同步。罗马尼亚是所有年度（2004-2017年）内最低GREMI值最高的国家。在九年（2004-2006年，2008年和2013-2017年）期间，爱沙尼亚确定了GREMI的最高值。

研究局限/意义

尽管选择相同的变量集进行分析以允许在市场之间进行比较是应用该方法的局限性，但准备好的指数可用于分析不同的房地产市场。变量的实际选择也是研究的局限性，这是该范围内研究的开放性质，可能会引起争议。

创意/价值

本文提供了从2004年开始加入欧盟的国家GREMI指数的原始方法。