Identifying the key variables affecting condominium real estate appraisal in the context of Al Bireh City, Palestine: a literature and questionnaire-based approach

IF 2.2 Q3 MANAGEMENT
Jamal A.A. Numan, Izham Mohamad Yusoff
{"title":"Identifying the key variables affecting condominium real estate appraisal in the context of Al Bireh City, Palestine: a literature and questionnaire-based approach","authors":"Jamal A.A. Numan, Izham Mohamad Yusoff","doi":"10.1108/jfm-01-2024-0006","DOIUrl":null,"url":null,"abstract":"<h3>Purpose</h3>\n<p>Due to the lack of consensus on influential variables for real estate appraisal, which varies from one country to another based on the national preferences and customs of each country, this study aims to identify the most influential variables affecting condominium apartment real estate appraisal within the context of Al Bireh city, Palestine.</p><!--/ Abstract__block -->\n<h3>Design/methodology/approach</h3>\n<p>The methodology adopts a cross-sectional quantitative approach, entailing the administration of an online questionnaire survey to 103 buyers and appraisers. The questionnaire aims to evaluate 32 variables concerning their impact on condominium real estate appraisal. Out of these, 25 are derived from three specific previous studies, and the remaining 7 are identified through various studies or by the authors, taking into account the local context and the geopolitical situation in Palestine. Respondents assign scores to these variables on a five-point Likert scale, ranging from 1 to 5, where 1 indicates less influence and 5 signifies the most influence. Variables with an arithmetic mean score exceeding 4 are deemed the most influential.</p><!--/ Abstract__block -->\n<h3>Findings</h3>\n<p>The findings underscore 16 and 17 influential variables as perceived by buyers and appraisers, respectively. Notably, 13 variables are common, including aspects such as parking, elevator, neighborhood, floor apartments, finishing quality, construction material, condition, building apartments, area, open sides, building floors, colonies and age.</p><!--/ Abstract__block -->\n<h3>Research limitations/implications</h3>\n<p>The primary constraint of this study is its dependence on insights solely from buyers and appraisers, disregarding input from other stakeholders like investors or developers. The questionnaire lacks vital respondent characteristics, such as gender and occupation, impeding the analysis of variable dependence on participant attributes. Although some additional influential variables are suggested through the responses of an open-ended question, the questionnaire is not repeated, leaving their influence unassessed. This study's focus on Al Bireh city limits the opportunity for result comparison with other cities, diminishing its generalizability.</p><!--/ Abstract__block -->\n<h3>Practical implications</h3>\n<p>The implications of this research are twofold: to provide stakeholders with a checklist for variables influencing apartment price value and to guide data collection related to the real estate appraisal sector, facilitating its use as input in advanced appraisal methods such as artificial intelligence with a view to improving overall performance. Obtaining an informed, mature and accurate appraisal has direct economic, business and financial impacts at the level of policymakers and individuals.</p><!--/ Abstract__block -->\n<h3>Originality/value</h3>\n<p>To the best of the authors' knowledge, this study is the inaugural endeavor in Palestine focusing on identifying pivotal factors influencing condominium apartment appraisal values. This study concludes by presenting a checklist comprising the most influential variables, offering utility to various stakeholders, including buyers, appraisers and developers. In addition, the questionnaire incorporates an open-ended question, soliciting respondents' input on additional variables they believe impact the appraisal process.</p><!--/ Abstract__block -->","PeriodicalId":46544,"journal":{"name":"Journal of Facilities Management","volume":"9 1","pages":""},"PeriodicalIF":2.2000,"publicationDate":"2024-09-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Journal of Facilities Management","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.1108/jfm-01-2024-0006","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q3","JCRName":"MANAGEMENT","Score":null,"Total":0}
引用次数: 0

Abstract

Purpose

Due to the lack of consensus on influential variables for real estate appraisal, which varies from one country to another based on the national preferences and customs of each country, this study aims to identify the most influential variables affecting condominium apartment real estate appraisal within the context of Al Bireh city, Palestine.

Design/methodology/approach

The methodology adopts a cross-sectional quantitative approach, entailing the administration of an online questionnaire survey to 103 buyers and appraisers. The questionnaire aims to evaluate 32 variables concerning their impact on condominium real estate appraisal. Out of these, 25 are derived from three specific previous studies, and the remaining 7 are identified through various studies or by the authors, taking into account the local context and the geopolitical situation in Palestine. Respondents assign scores to these variables on a five-point Likert scale, ranging from 1 to 5, where 1 indicates less influence and 5 signifies the most influence. Variables with an arithmetic mean score exceeding 4 are deemed the most influential.

Findings

The findings underscore 16 and 17 influential variables as perceived by buyers and appraisers, respectively. Notably, 13 variables are common, including aspects such as parking, elevator, neighborhood, floor apartments, finishing quality, construction material, condition, building apartments, area, open sides, building floors, colonies and age.

Research limitations/implications

The primary constraint of this study is its dependence on insights solely from buyers and appraisers, disregarding input from other stakeholders like investors or developers. The questionnaire lacks vital respondent characteristics, such as gender and occupation, impeding the analysis of variable dependence on participant attributes. Although some additional influential variables are suggested through the responses of an open-ended question, the questionnaire is not repeated, leaving their influence unassessed. This study's focus on Al Bireh city limits the opportunity for result comparison with other cities, diminishing its generalizability.

Practical implications

The implications of this research are twofold: to provide stakeholders with a checklist for variables influencing apartment price value and to guide data collection related to the real estate appraisal sector, facilitating its use as input in advanced appraisal methods such as artificial intelligence with a view to improving overall performance. Obtaining an informed, mature and accurate appraisal has direct economic, business and financial impacts at the level of policymakers and individuals.

Originality/value

To the best of the authors' knowledge, this study is the inaugural endeavor in Palestine focusing on identifying pivotal factors influencing condominium apartment appraisal values. This study concludes by presenting a checklist comprising the most influential variables, offering utility to various stakeholders, including buyers, appraisers and developers. In addition, the questionnaire incorporates an open-ended question, soliciting respondents' input on additional variables they believe impact the appraisal process.

确定影响巴勒斯坦比雷市公寓房地产评估的关键变量:基于文献和问卷调查的方法
本研究旨在确定影响巴勒斯坦 Al Bireh 市公寓房地产评估的最有影响力的变量。研究方法采用横断面定量方法,对 103 名购房者和评估师进行在线问卷调查。问卷旨在评估 32 个变量对公寓房地产评估的影响。其中,25 个变量来源于之前的三项具体研究,其余 7 个变量则是通过各种研究或作者根据巴勒斯坦的当地情况和地缘政治局势确定的。受访者按 1 至 5 分的李克特五点量表为这些变量打分,其中 1 表示影响较小,5 表示影响最大。算术平均得分超过 4 分的变量被视为最具影响力的变量。值得注意的是,有 13 个变量是共同的,包括停车位、电梯、社区、楼层公寓、装修质量、建筑材料、条件、楼宇公寓、面积、开阔面、楼宇楼层、殖民地和楼龄等方面。调查问卷缺乏重要的受访者特征,如性别和职业,这阻碍了对受访者属性变量依赖性的分析。虽然通过开放式问题的回答提出了一些额外的影响变量,但问卷没有重复,因此无法评估其影响。本研究以 Al Bireh 市为重点,限制了与其他城市进行结果比较的机会,从而降低了研究的普适性。本研究有两方面的意义:为利益相关者提供一份影响公寓价格价值的变量清单,并指导与房地产评估部门相关的数据收集工作,促进其作为人工智能等先进评估方法的输入,以提高整体绩效。据作者所知,本研究是巴勒斯坦首次致力于确定影响公寓评估价值的关键因素。本研究最后提出了一份包含最具影响力变量的核对表,为包括购房者、评估师和开发商在内的各利益相关方提供了有用信息。此外,问卷还包含一个开放式问题,征求受访者对他们认为影响评估过程的其他变量的意见。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
求助全文
约1分钟内获得全文 求助全文
来源期刊
CiteScore
4.30
自引率
15.80%
发文量
56
期刊介绍: Journal of Facilities Management is a strategic level journal for Heads of Facilities and Corporate Real Estate. Guided by its international and expert Editorial Board, Journal of Facilities Management publishes high-quality, authoritative, and detailed analysis, briefings and case studies on how facilities can and do play a vital part in helping deliver corporate strategy. This quarterly publication features contributions from leading practitioners and thinkers in the field of Facilities Management, from some of the leading companies, government institutions, and universities in the world. The journal features a combination of theoretical and practical articles, complemented by a wide range of case studies and regular features, identifying key implications for senior practitioners in Facilities Management.
×
引用
GB/T 7714-2015
复制
MLA
复制
APA
复制
导出至
BibTeX EndNote RefMan NoteFirst NoteExpress
×
提示
您的信息不完整,为了账户安全,请先补充。
现在去补充
×
提示
您因"违规操作"
具体请查看互助需知
我知道了
×
提示
确定
请完成安全验证×
copy
已复制链接
快去分享给好友吧!
我知道了
右上角分享
点击右上角分享
0
联系我们:info@booksci.cn Book学术提供免费学术资源搜索服务,方便国内外学者检索中英文文献。致力于提供最便捷和优质的服务体验。 Copyright © 2023 布克学术 All rights reserved.
京ICP备2023020795号-1
ghs 京公网安备 11010802042870号
Book学术文献互助
Book学术文献互助群
群 号:481959085
Book学术官方微信