Investments

An investment is the sacrifice of current consumption for future benefits. The investor divides his budget into the consumed part and the part intended for investments. Increasing the investment fraction is also reducing the consumption fraction and vice versa. The effect of the investment is uncertain, which means that almost every investment is subject to risk. Only very few types of investments can be considered risk-free. The investment effect always appears in the future, either closer or further, depending on the investment horizon.

For these reasons, it is sometimes so difficult for us to change the proportions of our portfolio and start investing.

For what purpose are we investing?

We want to collect funds for a consumer purchase - then the target final value of the investment is determined, usually equal to the estimated price of the consumer purchase object;

We want to increase the amount of capital - the goal is to obtain the highest possible investment value at the end of the investment period;

We want to earn regular income - the goal of the investment is to earn regular, approximately constant income;

For safety, the goal is to avoid possible partial loss of capital.

What are the types of investments?

· Tangible investments - the object of the investment is tangible, e.g. gold, works of art, real estate. Objects of tangible investments also have a use value and can be used to satisfy consumer needs. The investor expects the value of the investment object to increase during the investment period.

Financial investments - the subject of the investment is intangible, the subject of the financial investment is the so-called financial instrument. The benefits come from both the appreciation of the investment and the periodic income that the financial instrument may provide during the investment period. Unlike physical investments, in financial investments, the object of investment, that is, the financial instrument, does not represent a use value in itself, but only a monetary value. This means that in financial investments, the object of investing does not serve to satisfy consumer needs.

By definition, a financial instrument is a contract between two parties, which contract defines the financial relationship in which both parties remain.

There are three main types of financial instruments:

1. Debt instruments (debt instruments) in which one party to the contract lends capital to the other party and the other party undertakes to repay the debt and pay interest. Typical examples of debt instruments are bank deposits, bank loans, bonds.

2. Equity instruments (ownership) in which one party to the contract sells the ownership of the enterprise to the other party. A typical example of an equity instrument is a share issued by a joint stock company.

3. Derivatives (forward) where two parties define a transaction that may or must take place in the future between these parties. Derivatives are the newest group of financial instruments; These instruments, apart from the investment objective, also fulfill the investment risk management objective. The main derivative instruments are options and futures contracts.

Currently, there are more and more so-called hybrid financial instruments. They combine the features of the two groups of instruments mentioned above, e.g. a hybrid instrument may be a combination of a debt instrument and a derivative instrument. Such instruments are, for example, bonds with attached rights or the so-called structured deposit products.

The most important financial instruments that you can invest in are:

Debt instruments:

- bank deposits in national currency,

- bank deposits in foreign currency,

- treasury bills and other money market instruments,

- bonds,

Equity instruments:

- actions,

- investment certificates,

- participation units in investment funds,

Derivatives:

- futures contracts

Hybrid instruments:

- structured deposit products

Seven districts of Wrocław

Wrocław's second layout consists of seven district complexes, housing estates, and other developments. Seven district complexes have been identified. The centrally built-up area of the city is the Śródmieście complex. The next four concentrically adjacent complexes: Krzycki, Gądowski, Karłowicki, and Oławski, are linked to the Śródmieście District Complex by a network of streets radiating from it. The Karłowicki District Complex is separated from the Śródmieście District Complex by the strong barrier of the Old Oder River and shipping canals and connected by four road bridges and two railway bridges. The Krzycki, Gądowski, Karłowicki, and Oławski district complexes are interconnected by the Śródmieście Bypass. The last two complexes, the Leśnicki and Psie Pole district complexes, are located peripherally in the city structure, with the Psie Pole District Complex being very weakly connected to the rest of the city via a single bridge over the Widawa River, while the Leśnicki District Complex is connected to the Gądowski District Complex via east-west streets.

Three service centers in Wrocław

The third component of the functional-spatial structure is the service concentration system, which consists of three planned and expanded centers. The first, largest, and most important concentration is the metropolitan center of Wrocław. The second large concentration of service activities, called the South Pole in the Study, is planned for the "Bielany" junction. On the western arm of the urban area, a third large concentration of services will be created near the "Kosmonautów" AOW junction. A large recreational and sports complex is proposed for this junction. Another element of the service concentration system are centers serving individual district complexes (Zipser et al. 2006).

Green areas in Wrocław

Wrocław's green and open space system consists primarily of large green areas connected by narrower strips. The study highlights the following elements of the system:

– strips of land along the rivers flowing through the city together with the adjacent green areas, in particular along the rivers: Odra and Oława, Widawa and Dobra, Bystrzyca,

radially shaped green belts, including the following wedges: Wojszycki-Tarnogajski, Południowy, Kleciński, Oporowski, Muchoborski, Jerzmanowski, Ratyński, Stabłowicki, Pustecki, Widawski, Zakrzowski, Kłokoczycki, Pawłowicki,
large forest complexes, including the following forests: Ratyński, Leśnicki, Mokrzański, Janowski, Rędziński, Lesicki, Pilczycki, Osobowicki, Zakrzowski,
sports and recreational areas with a predominance of greenery.

The share of green areas in the urban fabric is not high. These areas occupy a total of just over 17% of the city's area. All types of recreational green areas in the city, with the exception of allotment gardens, do not reach the desired size according to Western European criteria. Wrocław has approximately half of the recommended publicly accessible green space. In terms of greenery – sports facilities – Wrocław meets the standard requirements (2.5 m²/1 m²), but many sports facilities are characterized by limited accessibility or poor transport accessibility. The ratio of publicly accessible urban green areas, such as parks and green areas, is decreasing – for example, from 12.9 m² per resident in 2000 to 9.9 m² in 2003. Assuming a ratio of 13.5 m² per resident, the park greenery shortage amounts to approximately 200 hectares. The greatest park greenery shortages occur in the central part of the city and in multi-family housing estates. Most housing complexes in the city are located outside the optimal 500-meter pedestrian access zone to park green areas, which prevents many residents from meeting their recreational needs.

Wrocław's location in the Oder Proglacial Valley defines the basic features of the city's spatial layout, based on a belt-like structure, with the belts running parallel to the Oder River. The rivers on which the city is situated (the Oder and its tributaries – Bystrzyca, Oława, Ślęża, Widawa) form the basis of the city's natural environment and, from this perspective, play a very positive landscape, ecological, and social role, providing the foundation for the city's recreational areas. The greenery system is formed, on the one hand, by the aforementioned riverside belts, and on the other, by roughly wedge-shaped belts that complement this system. Despite culturally valuable green spaces of citywide or district significance, which play a significant role both in the urban greenery system and for residents' recreation, the number of these areas is too small. Numerous sports facilities and centers with various functions also provide recreational opportunities for residents, while other green spaces (forests, allotment gardens) are of lesser importance for residents' recreation. In this situation, proper development of residential areas, which constitute the primary place for daily recreation for residents, is particularly important. It should be noted that the city's location in the Oder River valley also has other implications. The lack of sufficient bridges hampers communication and reduces accessibility and functional connections, especially in the city's outlying areas. Furthermore, areas associated with the rivers are significantly less suitable for housing. This aspect was not taken into account when planning the city's expansion in the post-war period. As a result, a number of housing estates were built in the western and eastern parts of the city, situated in unfavorable conditions or even on floodplains.

Wrocław's downtown estates

It's hard to believe that the city center's developments date back to the 19th century. Some of them date back even further and are characterized by their central location in the city.

They are densely populated and housing and other activities are mixed.

A common type of urban development is the urban block – a complex of buildings that typically have a representative exterior and utilitarian functions internally. Frontage development along streets and squares is the dominant form of public space.

Many residential areas in the city center are home to important landmarks and facilities. These include parks, universities, theaters, museums, hospitals, and prisons. There are also commercial, entertainment, and tourist attractions, as well as areas related to manufacturing and transportation.

It is often the case that service centers are located exclusively in shopping plazas or streets.

Examples: Ołbin, Nadodrze, Kleczków, Przedmieście Oławskie, Huby, Plac Grunwaldzki, Old Town

Wrocław's small housing estates

The structures are diverse and will meet the needs of different family types, including single-family homes and multi-family dwellings. The population density is moderate, meaning there will be ample space for people and property, and the land utilization is high, meaning there is not much vacant land on the property.

Small estates are characterized by a characteristic spatial layout (a clear and well-developed spatial hierarchy, a clear and understandable geometric layout) and a rich functional program (a school, a kindergarten, a clinic, a local service center with basic commercial services, a sports center, green and recreational areas, etc.).

The typical form of a service center is a major street/square with services integrated into residential buildings. The shaping of public space was achieved primarily through frontage development along streets and squares.

Some developments are planned from the outset, with a clearly defined structure, but many others lack a central location that shapes the property.

There are few easily accessible public and commercial facilities.

Examples: Grabiszynek, Oporów, Sępolno, Biskupin, Zalesie, Pawłowice, Karłowice, Krzyki, Borek, Księże Małe, Krzyki, Karłowice, Muchobór Wielki

Wrocław's housing estates

Complete or nearly complete multifamily housing developments. Population density and land use are high.

The typical material for residential buildings is prefabricated buildings with a compact layout and a relatively complete functional structure. They include a school, a kindergarten, a clinic, a local service center with basic commercial services, a sports center, and green and recreational areas.

A typical spatial layout shaped by freely arranged residential buildings and accompanying service facilities. The spatial structure of a housing estate is usually clear and transparent, but sometimes lacks a recognizable hierarchy. By shaping public space through freely sculpted open forms, open spaces typically allow for the designation of dedicated areas for the activities of residents and other city users.

A service center in the form of a separate spatial structure integrated into the residential development.

Commercial and service facilities usually take the form of separate buildings.

Examples: Popowice South, Zakrzów, Zawidawie, Gaj North

Incomplete multi-family housing estates in Wrocław

Multifamily housing developments are incomplete due to their recent construction or their small size and peripheral location. Population density and land use are high.

Complexes of multi-family buildings characterized by a clear, coherent spatial shape in relation to the street layout and buildings, but devoid of typical elements of estate amenities – many typical elements of estate amenities are missing (school, kindergarten, clinic, local service center with basic commercial services, sports center, green and recreational areas, etc.).

It is assumed that this situation is temporary due to the city's spatial fragmentation; these estates are still "waiting" for public facilities, and their often small size does not generate sufficient demand for commercial services. However, the time horizon of this temporary situation may be quite distant. Some estates have the opportunity to benefit from services developed in neighboring estates.

The public spaces of the estates remain undefined and inconsistent, as some are partially or completely fenced. A widespread lack of central spaces defining the estate's structure is common.

Service centers are uneducated, primitive and come in various forms: from an incomplete shopping street to loosely arranged free-standing service facilities.

In relation to new housing estates, a very high intensity of development and a noticeable lack of open areas within the estate are also characteristic, partly compensated by the fact that often undeveloped, undeveloped areas extend in the vicinity.

Examples: the “Cztery Pory Roku” housing estate in the area of Vivaldiego Street, the housing estate in the area of Zwycięska Street, the housing estate in the area of Przyjaźni Street, the housing estate in the area of Piwnika-Ponurego Street, the “Olimpia Port” housing estate in the area of Swojczycka Street.

Incomplete single-family housing estates in Wrocław

Single-family housing estates are incomplete due to their relatively recent construction or incomplete development, their isolated or peripheral location, and their development method, which relies on individual investment processes. Population density is low, and land use varies.

Single-family housing complexes, characterized by a distinct and coherent spatial shape in relation to the street layout and buildings, but lacking many of the typical elements of neighborhood amenities (school, kindergarten, clinic, local service center with basic commercial services, sports center, green and recreational areas, etc.).

It is assumed that this situation is temporary due to the city's spatial fragmentation. These neighborhoods are still "waiting" for public facilities and their low population density. Despite sometimes occupying large areas, they do not generate sufficient demand for commercial services. However, the time horizon for this temporary situation may be quite distant. Some neighborhoods have the opportunity to utilize services developed in neighboring neighborhoods.

Despite a clearly defined street layout, public spaces in housing estates are often characterized by poor quality furnishings and a lack of hierarchical clarity. A common lack of central areas defining the structure of the estate is the lack of a clear hierarchy.

New housing estates are also characterised by high building density and a noticeable lack of open spaces within the estate, partly compensated by the fact that often undeveloped, undeveloped areas extend in the vicinity.

Examples: Ołtaszyn, Wojszyce, Widawa, Maślice Małe, Strachocin-Wojnów

Small-town housing estates of Wrocław

These three formerly independent small towns are characterized by their own developed spatial structure – a clear layout of streets, squares, and buildings, and a functional program expanded beyond the estate, including, for example, a hospital and a palace-cultural complex. Population density is moderate, and land use varies.

Residential buildings of various types and layouts - from urban estates to single-family houses.

A service center is typically located in the center of a former independent city, typically as a shopping street or square. The exception is Brochów, which does not have such a structure.

Frontage development along streets and squares is the dominant way of shaping public space in the central parts of small-town housing estates.

Examples: Brochów, Leśnica, Psie Pole

Former villages of Wrocław

Residential complexes built on the basis of former villages, still characterized by a recognizable rural spatial layout (house-like, oval, forked, multi-lane, etc.) with relics of former buildings or developments, such as a farmstead or pond. Population density and land use are low.

An isolated or peripheral location in the city structure is typical.

Some of the old villages are characterized by a fairly complete functional program, but usually at least one, and often several, elements of the desired housing estate equipment are missing (school, kindergarten, clinic, local service center with basic commercial services, sports center, green and recreational areas, etc.).

A service center usually in a rudimentary form, as individual services built into single-family residential buildings or detached buildings.

The public spaces of former villages, despite their clearly defined street layouts, are typically characterized by low-quality furnishings and a lack of hierarchical clarity. The potential of central spaces defining the village structure remains untapped.

Connections with agriculture are often visible in the structure of activities and spatial layout.

Examples: Jerzmanowo-Jarnołtów, Lipa Piotrowska, Kowale, Świniary, Bieńkowice