International Journal of Housing Markets and Analysis最新文献

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Housing in the greater Paris area as an inflation hedge? 在大巴黎地区买房是为了对冲通胀?
IF 1.7
International Journal of Housing Markets and Analysis Pub Date : 2023-02-13 DOI: 10.1108/ijhma-08-2022-0118
Yasmine Essafi Zouari, Aya Nasreddine
{"title":"Housing in the greater Paris area as an inflation hedge?","authors":"Yasmine Essafi Zouari, Aya Nasreddine","doi":"10.1108/ijhma-08-2022-0118","DOIUrl":"https://doi.org/10.1108/ijhma-08-2022-0118","url":null,"abstract":"\u0000Purpose\u0000Over a long period, even low inflation has an impact on portfolio value and households’ purchasing power. In such a context, inflation hedging should remain an important issue for investors. In particular, long-term investors, who are concerned with the protection of their wealth, seek to hold effective hedging assets. This study aims to demonstrate that residential assets in “Grand Paris” are a hedge against inflation and particularly against its unexpected component.\u0000\u0000\u0000Design/methodology/approach\u0000In this study, the physical residential markets in 127 communes in Paris and the Parisian first-ring suburbs are considered as potential asset classes. We simplified the analysis by clustering the 127 communes into five homogenous groups using ascending hierarchical classification (AHC). Then, we test the hedging ability of these groups within a mixed asset portfolios using both correlation and regression analysis.\u0000\u0000\u0000Findings\u0000This paper presents an analysis of the “Grand Paris” housing market and its inflation hedging ability with comparison to other financial asset classes. Results show that the five housing groups act as a highly positive hedge against unexpected inflation. Furthermore, cash and bonds seem to provide, respectively, a partial and an over hedge against unexpected inflation. Stocks act as a perverse hedge against unexpected inflation and provide no significant hedge against expected inflation. Also, indirect listed real estate demonstrates little correlation with inflation, which makes us reject its hedging ability contrary to physical residential real estate.\u0000\u0000\u0000Research limitations/implications\u0000The inflation topic: although several researches exist that question the hedging property of real estate, very few concentrate on physical residential assets and to the best of the authors’ knowledge, this study is the only one that targets the “Grand Paris” area. Residential assets of the “Grand Paris” communes are confirmed to be a hedge against inflation and particularly against its unexpected component thanks to its capital appreciation rather than income one. Also, we show that the listed real estate in France (Sociétés d’Investissement Immobilier Cotée) does not provide the same hedging properties contrary to the US real estate investment trusts (REITs) who demonstrate this ability. Listed real estate could thus not be used interchangeably with housing to protect from inflation in the French market.\u0000\u0000\u0000Practical implications\u0000Protection of investors against inflation and in particular in the face of its return to France in 2022. Reassuring promoters and investors of the interest of residential investment projects in “Greater Paris” and of the potential that this holds.\u0000\u0000\u0000Social implications\u0000Inflation takes a chunk out of the purchasing power of money and thereby erodes the real value of people’s finance. Investors and households who seek protection from inflation erosion should invest in direct housing, and in particular within area","PeriodicalId":14136,"journal":{"name":"International Journal of Housing Markets and Analysis","volume":" ","pages":""},"PeriodicalIF":1.7,"publicationDate":"2023-02-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42853531","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 1
Brand anthropomorphism’s impact on real estate purchase decisions of young buyers in India and the underlying reliance on spatial memory 品牌拟人化对印度年轻买家房地产购买决策的影响及其对空间记忆的潜在依赖
IF 1.7
International Journal of Housing Markets and Analysis Pub Date : 2023-02-13 DOI: 10.1108/ijhma-12-2022-0178
A. Rodrigues, Benny J. Godwin, Jossy P. George
{"title":"Brand anthropomorphism’s impact on real estate purchase decisions of young buyers in India and the underlying reliance on spatial memory","authors":"A. Rodrigues, Benny J. Godwin, Jossy P. George","doi":"10.1108/ijhma-12-2022-0178","DOIUrl":"https://doi.org/10.1108/ijhma-12-2022-0178","url":null,"abstract":"\u0000Purpose\u0000Assessing anthropomorphic tendency in relation to real estate purchase decisions and analysing the elements of friendliness, aggressiveness, pleasure and arousal as a link to the spatial memory of the consumer. This study aims to help brands and advertisers in the real estate industry to create meaningful consumer relationships by using elements that are associated with positive spatial experience. By formulating a detailed questionnaire with adapted variables from proven research and a multilayered approach of theoretic and practical analysis, this paper situates the identified variables in the plane of space and customer experience.\u0000\u0000\u0000Design/methodology/approach\u0000By using structural equation modeling, this study analyses a sample data of 411 consumers and their response to elements of housing.\u0000\u0000\u0000Findings\u0000The findings of this study showed that variables of friendliness, aggressiveness, pleasure and arousal significantly impact consumer’s real estate purchase decision; however, anthropomorphic tendency does not have a significant impact. Through theoretical analysis, it was found that spatial memory may have a role in the visual and display of the variables.\u0000\u0000\u0000Originality/value\u0000The merit of this paper lies in the discussion it has raised with regard to the intersection between theoretics of space and the chosen variables. In the field of business and management, often philosophical implications of spatiality may not be actively associated with numerical computation. This paper not only looks at brand anthropomorphism’s impact on real estate purchase decisions but also looks at friendliness and other mentioned variables as significantly impacting purchase decisions and linked to memory, space and affiliation.\u0000","PeriodicalId":14136,"journal":{"name":"International Journal of Housing Markets and Analysis","volume":" ","pages":""},"PeriodicalIF":1.7,"publicationDate":"2023-02-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49568445","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 1
The relationship between macroeconomic variables on residential property price: case study in Malaysia before and during COVID-19 宏观经济变量与住宅房地产价格的关系——新冠肺炎前后马来西亚的案例研究
IF 1.7
International Journal of Housing Markets and Analysis Pub Date : 2023-02-08 DOI: 10.1108/ijhma-01-2022-0013
S. H. Zulkarnain, A. S. Nawi
{"title":"The relationship between macroeconomic variables on residential property price: case study in Malaysia before and during COVID-19","authors":"S. H. Zulkarnain, A. S. Nawi","doi":"10.1108/ijhma-01-2022-0013","DOIUrl":"https://doi.org/10.1108/ijhma-01-2022-0013","url":null,"abstract":"\u0000Purpose\u0000The purpose of this study is to analyse numerous aspects affecting residential property price in Malaysia against macroeconomics issues such as gross domestic product (GDP), exchange rate, unemployment and wage.\u0000\u0000\u0000Design/methodology/approach\u0000The hedonic pricing model has been adopted as econometric model for this research to investigate the relationship between residential property price against macroeconomics indicator. The data for residential property price and macroeconomic variables were collected from 1991 to 2019. Multiple linear regression had been adopted to find the relationship between the dependent and independent variables.\u0000\u0000\u0000Findings\u0000The result shows that the GDP has a significant positive impact on residential property price, while exchange rate has no significant impact although it was positive. In addition, the unemployment rate has a significant impact on the residential property price and has a negative relationship. Similar to the wage that shows the negative relationship with residential property prices. Moreover, during the pandemic COVID-19 in Malaysia, this research shows a more transparent view of the relationship between residential property price and the macroeconomic issues of GDP, exchange rate, unemployment and wage.\u0000\u0000\u0000Originality/value\u0000The findings of this research found that macroeconomics issue cannot be eliminated due to Malaysia is a developing country, and there will always be an issue that will happen, but the issues can be reduced to maximise the advantages, e.g. during COVID-19, the solution to fight against COVID-19 were crucial and weaken the macroeconomics issues.\u0000","PeriodicalId":14136,"journal":{"name":"International Journal of Housing Markets and Analysis","volume":" ","pages":""},"PeriodicalIF":1.7,"publicationDate":"2023-02-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46862025","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
How much to invest for house purchase? The consumer purchase intention perspective of real estate investment decision 购房投资多少?房地产投资决策的消费者购买意愿视角
IF 1.7
International Journal of Housing Markets and Analysis Pub Date : 2023-02-03 DOI: 10.1108/ijhma-10-2022-0151
S. Kabir, Zakia Binte Jamal, Bindu Proshad Kairy
{"title":"How much to invest for house purchase? The consumer purchase intention perspective of real estate investment decision","authors":"S. Kabir, Zakia Binte Jamal, Bindu Proshad Kairy","doi":"10.1108/ijhma-10-2022-0151","DOIUrl":"https://doi.org/10.1108/ijhma-10-2022-0151","url":null,"abstract":"\u0000Purpose\u0000This study is based on the consumer purchase intention (CPI) in real estate. The purpose of this study is to investigate the link between CPI and preferred individual investment capacity in buying real estate properties. This study investigates if commonly known factors of CPI such as attitude, social power or subjective norms, perceived behavior power or control, location, surrounding environment and socialization can influence a consumer’s preferred investment amount when buying a house, either for own use or for rental purpose.\u0000\u0000\u0000Design/methodology/approach\u0000A total of 334 respondents participated in this study. The survey data was analyzed using factor analysis technique, ordinary least square technique and Poisson pseudo maximum likelihood technique.\u0000\u0000\u0000Findings\u0000This study finds that location, surrounding environment, property/construction papers, roads, mosque/temple and fire services significantly influence the preferred investment amount of a real estate investor.\u0000\u0000\u0000Originality/value\u0000This study suggests that a link exists between CPI and real estate investment decision through factors such as location, surrounding environment, legal documentation and communication facility. These identified CPI factors require serious consideration by the real estate developers and their financing partners.\u0000","PeriodicalId":14136,"journal":{"name":"International Journal of Housing Markets and Analysis","volume":" ","pages":""},"PeriodicalIF":1.7,"publicationDate":"2023-02-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46033996","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
The effect of social capital on housing prices: panel data analysis by province in Turkey 社会资本对房价的影响:土耳其各省面板数据分析
IF 1.7
International Journal of Housing Markets and Analysis Pub Date : 2023-01-24 DOI: 10.1108/ijhma-11-2022-0170
Abdulmuttalip Pilatin, Ali Hepşen, Onur Kayran
{"title":"The effect of social capital on housing prices: panel data analysis by province in Turkey","authors":"Abdulmuttalip Pilatin, Ali Hepşen, Onur Kayran","doi":"10.1108/ijhma-11-2022-0170","DOIUrl":"https://doi.org/10.1108/ijhma-11-2022-0170","url":null,"abstract":"\u0000Purpose\u0000This study aims to reveal whether social capital has an effect on the housing price index in Turkey, which is a developing country. The research was carried out by using the data on the basis of 81 provinces of Turkey in a 12-year period covering the years 2007–2018.\u0000\u0000\u0000Design/methodology/approach\u0000The data were subjected to panel data regression analysis and the related models were tested using the Driscoll-Kraay (1998) Estimator.\u0000\u0000\u0000Findings\u0000According to the results of the analysis, it was understood that there is a negative and significant relationship between social capital (SC1) and the housing price index. The results were corroborated by susceptibility testing. As the level of social capital rises in the provinces in Turkey, the manipulative and opportunistic behavior tendencies of individual and corporate house sellers decrease. These results support the principal–agent theory and theory of moral hazard, which constitute the theoretical background of the study.\u0000\u0000\u0000Originality/value\u0000No study has been found in the literature on the effect of social capital on housing prices. This situation constitutes the main motivation source of the study and shows its originality.\u0000","PeriodicalId":14136,"journal":{"name":"International Journal of Housing Markets and Analysis","volume":" ","pages":""},"PeriodicalIF":1.7,"publicationDate":"2023-01-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47226582","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 1
Interdependence between foreigner housing acquisitions and housing price increase in Turkey during the COVID-19 pandemic era 2019冠状病毒病大流行时期土耳其外国人购房与房价上涨之间的相互依存关系
IF 1.7
International Journal of Housing Markets and Analysis Pub Date : 2023-01-19 DOI: 10.1108/ijhma-08-2022-0109
M. A. Salami, H. Tanrıvermiş, Yeşim Aliefendioğlu (Tanrivermis)
{"title":"Interdependence between foreigner housing acquisitions and housing price increase in Turkey during the COVID-19 pandemic era","authors":"M. A. Salami, H. Tanrıvermiş, Yeşim Aliefendioğlu (Tanrivermis)","doi":"10.1108/ijhma-08-2022-0109","DOIUrl":"https://doi.org/10.1108/ijhma-08-2022-0109","url":null,"abstract":"Purpose\u0000This study aims to establish the relationship between house acquisitions by foreigners (HAF) and house price index (HPI) in Turkey.\u0000\u0000\u0000Design/methodology/approach\u0000Due to the nature of this study, the data spans from January 2020 to March 2022. The house price index and the number of foreign house acquisitions across three provinces: Ankara, Izmir and Bursa, and national-level data were obtained from the TurkStat database. Consumer price index (CPI) and Turkish interest rates are control variables. In addition, monthly Turkish interest rates and CPI were obtained from the investing.com and TurkStat database, respectively. Furthermore, this study used autoregressive-distributed lag and Toda Yamamoto Granger causality models to avoid analysis bias. HPI and HAF are the variables used to accomplish the objectives of this study.\u0000\u0000\u0000Findings\u0000This study established a short-run equilibrium between foreign house acquisitions at the provincial and national levels. The short-run deviations were adjusted faster, ranging from 57.53% to 89.24% for some provinces, while Izmir is struggling to adjust at 6.48%. Both unidirectional and bidirectional Granger causality evidence suggests that the Turkish house price index increases at the national and provincial levels. This finding suggests the need for continuous policy intervention in the Turkish housing market because house prices play a pivotal role in Turkish economic development and daily lives.\u0000\u0000\u0000Research limitations/implications\u0000This study’s scope and single-country study are its limitations. However, those limitations make the findings appropriate for the country of the study rather than generalising the results.\u0000\u0000\u0000Practical implications\u0000The study provides empirical evidence that foreign housing acquisition contributes negatively to housing affordability in Turkey and calls for authority intervention. This is because housing is considered shelter, a fundamental need to which citizens are expected to be entitled. Most citizens are low- and medium-income earners who may be unable to afford a house out of their income if it becomes costly. Once the expenditure to secure housing exceeds 30% of their income, it is considered unaffordable.\u0000\u0000\u0000Originality/value\u0000To the authors' best knowledge, this is the first empirical study that established the influence of foreign house acquisitions on Turkish house price increases and adversely reduced house affordability by Turkish citizens. The study is the first on foreign Turkish housing acquisition that used both theory of ownership and justice motivation theory to explain HAF.","PeriodicalId":14136,"journal":{"name":"International Journal of Housing Markets and Analysis","volume":" ","pages":""},"PeriodicalIF":1.7,"publicationDate":"2023-01-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41902999","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 1
What housing characteristics support seniors? Seniors’ experiences of housing and home in New Zealand during the COVID-19 pandemic 什么样的住房特征支持老年人?2019冠状病毒病大流行期间新西兰老年人的住房和家庭体验
IF 1.7
International Journal of Housing Markets and Analysis Pub Date : 2023-01-16 DOI: 10.1108/ijhma-08-2022-0124
B. L. James
{"title":"What housing characteristics support seniors? Seniors’ experiences of housing and home in New Zealand during the COVID-19 pandemic","authors":"B. L. James","doi":"10.1108/ijhma-08-2022-0124","DOIUrl":"https://doi.org/10.1108/ijhma-08-2022-0124","url":null,"abstract":"\u0000Purpose\u0000This paper aims to explore what can be learned from the COVID-19 pandemic about adaptable, functional housing design that supports seniors’ resilience. This paper considers how physical and design features enable seniors to stay safe, develop coping strategies, give and receive care and maintain social connections.\u0000\u0000\u0000Design/methodology/approach\u0000A qualitative research strategy incorporating thematic analysis was used, involving interviews and one focus group with seniors and interviews with housing providers and community organisations supporting seniors. Forty-eight semi-structured interviews were conducted with 54 seniors aged over 60 years living independently, not in aged care. Interviewees were selected to cover a range of ages and housing circumstances. Semi-structured interviews were also conducted with 20 organisations.\u0000\u0000\u0000Findings\u0000The physical, amenity and design aspects of the living environment that support seniors’ well-being and resilience during a pandemic are: the ability to receive essential goods and services in the home; sufficient space and storage; flexible and adaptable living spaces; access to private indoor and outdoor space; ability to garden and grow food; having an outlook or view; functional heating, ventilation and appliances; and dwelling location allowing access to green spaces, food stores and services. The ability of housing to facilitate social connections is a fundamental enabler of seniors’ resilience.\u0000\u0000\u0000Originality/value\u0000This paper contributes to knowledge about physical and design aspects of the dwelling that enable protection and care in a pandemic and how that can help to future-proof housing. Its focus on enabling seniors’ resilience through housing recognises the growing significance of structural population ageing for housing design and delivery and the central role of housing to ageing-in-place policies that underpin health and welfare provision.\u0000","PeriodicalId":14136,"journal":{"name":"International Journal of Housing Markets and Analysis","volume":" ","pages":""},"PeriodicalIF":1.7,"publicationDate":"2023-01-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42333262","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 1
Does loadshedding affect the housing market in South Africa? Some empirical evidence 减载会影响南非的房地产市场吗?一些经验证据
IF 1.7
International Journal of Housing Markets and Analysis Pub Date : 2023-01-11 DOI: 10.1108/ijhma-10-2022-0148
Amogelang Marope, A. Phiri
{"title":"Does loadshedding affect the housing market in South Africa? Some empirical evidence","authors":"Amogelang Marope, A. Phiri","doi":"10.1108/ijhma-10-2022-0148","DOIUrl":"https://doi.org/10.1108/ijhma-10-2022-0148","url":null,"abstract":"\u0000Purpose\u0000The purpose of this study is to quantify the impact of electricity power outages on the local housing market in South Africa.\u0000\u0000\u0000Design/methodology/approach\u0000This study uses the autoregressive distributive lag (ARDL) and quantile autoregressive distributive lag (QARDL) models on annual time series data, for the period 1971–2014. The interest rate, real income and inflation were used as control variables to enable a multivariate framework.\u0000\u0000\u0000Findings\u0000The results from the ARDL model show that real income is the only factor influencing housing price over the long run, whereas other variables only have short-run effects. The estimates from the QARDL further reveal hidden cointegration relationship over the long run with higher quantile levels of distribution and transmission losses raising the residential price growth.\u0000\u0000\u0000Research limitations/implications\u0000Overall, the findings of this study imply that the South African housing market is more vulnerable to property devaluation caused by power outages over the short run and yet remains resilient to loadshedding over the long run. Other macro-economic factors, such as real income and inflation, are more influential factors towards long-run developments in the residential market.\u0000\u0000\u0000Originality/value\u0000To the best of the authors’ knowledge, this is the first study to examine the empirical relationship between power outages and housing price growth.\u0000","PeriodicalId":14136,"journal":{"name":"International Journal of Housing Markets and Analysis","volume":" ","pages":""},"PeriodicalIF":1.7,"publicationDate":"2023-01-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48791104","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 1
An Islamic principle-based integrated solution for China’s housing affordability issues 基于伊斯兰原则的中国住房负担能力综合解决方案
IF 1.7
International Journal of Housing Markets and Analysis Pub Date : 2023-01-10 DOI: 10.1108/ijhma-10-2022-0152
Yaxin Ma, Fauziah MD. TAIB, Nusirat Ojuolape Gold
{"title":"An Islamic principle-based integrated solution for China’s housing affordability issues","authors":"Yaxin Ma, Fauziah MD. TAIB, Nusirat Ojuolape Gold","doi":"10.1108/ijhma-10-2022-0152","DOIUrl":"https://doi.org/10.1108/ijhma-10-2022-0152","url":null,"abstract":"\u0000Purpose\u0000This study aims to merge the world’s proven ways of housing finance, including musharakah mutanaqisah, housing cooperatives and real estate crowdfunding, to present an alternative housing unaffordability solution based on the Islamic finance principle. It is intended to reduce the burden of funding for both sides (consumers and developers) and create win–win chances for all stakeholders, including intermediaries. By moving away from debt financing and merging the features of crowdfunding and cooperative, it is hopeful that the burden of home ownership will no longer be the case.\u0000\u0000\u0000Design/methodology/approach\u0000This paper presents the opinions of potential Chinese homebuyers (minority Muslims and most non-Muslims) and a few industry experts toward the proposed model via a mixed research method.\u0000\u0000\u0000Findings\u0000According to the findings, the majority of respondents agreed with the proposed paradigm. Just concerned that China’s lack of community culture and trust could pose a major threat to implementation. However, this paper argues that Chinese local governments may perform pilot testing in places where Islamic culture is prevalent. Their unique community culture and fundamental understanding of Shariah law may affect the viability of the proposed model.\u0000\u0000\u0000Originality/value\u0000The proposed model would increase the applicability of Islamic finance as a way of protecting the social order of communities in the spirit of upholding justice and fairness. A new type of housing loan based on musharakah mutanaqisah may squeeze out the real estate bubble and provide stakeholders with a multidimensional investment channel. In particular, the study identifies the impact of Chinese Islamic financing on government and cultural needs. It presents possible challenges for implementing the proposed model in reality and helps bridge the gap between theory and practice.\u0000","PeriodicalId":14136,"journal":{"name":"International Journal of Housing Markets and Analysis","volume":" ","pages":""},"PeriodicalIF":1.7,"publicationDate":"2023-01-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49003725","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 1
“Home away from home” in pandemic times: how has COVID-19 changed the Airbnb market in Melbourne? 大流行时期的“离家之家”:COVID-19如何改变了墨尔本的Airbnb市场?
IF 1.7
International Journal of Housing Markets and Analysis Pub Date : 2023-01-10 DOI: 10.1108/ijhma-08-2022-0123
Peize Li, S. Han, Hao Wu
{"title":"“Home away from home” in pandemic times: how has COVID-19 changed the Airbnb market in Melbourne?","authors":"Peize Li, S. Han, Hao Wu","doi":"10.1108/ijhma-08-2022-0123","DOIUrl":"https://doi.org/10.1108/ijhma-08-2022-0123","url":null,"abstract":"\u0000Purpose\u0000This study aims to investigate how the COVID-19 pandemic has impacted and changed Airbnb market in the Greater Melbourne area in terms of its temporal and spatial patterns and identify possible shifts in underlying trends in travel activities.\u0000\u0000\u0000Design/methodology/approach\u0000A panel data set of Airbnb listings in Melbourne is analysed to compare temporal patterns, spatial distribution and lengths of stay of Airbnb users before and after the COVID outbreak.\u0000\u0000\u0000Findings\u0000This study found that the COVID disruption did not fundamentally change the temporal cycle of the Airbnb market. Month-to-month fluctuations peaked at different levels from pre-pandemic times mainly because of lockdowns and other restrictive measures. The impact of COVID-19 disruptions on neighbourhood-level Airbnb revenues is associated with distance to CBD rather than number of COVID cases. Inner city suburbs suffered major loss during the pandemic, whereas outer suburbs gained popularity due to increased domestic travel and long stays. Long stays (28 days or more, as defined by Airbnb) were the fastest growing segment during the pandemic, which indicates the Airbnb market was adapting to increasing demand for purposes like remote working or lifestyle change. After easing of COVID-related restrictions, demand for short-term accommodation quickly recovered, but supply has not shown signs of strong recovery. Spatial distribution of post-pandemic supply recovery shows a similar spatial variation. Neighbourhoods in the inner city have not shown signs of significant recovery, whereas those in the middle and outer rings are either slowly recovering or approaching their pre-COVID levels.\u0000\u0000\u0000Practical implications\u0000The COVID-19 pandemic has significantly impacted short-term rental markets and in particular the Airbnb sector during the phase of its rapid development. This paper helps inform in- and post-pandemic housing policy, market opportunity and investment decision.\u0000\u0000\u0000Originality/value\u0000To the best of the authors’ knowledge, this is one of the first attempts to empirically examine both temporal and spatial patterns of the COVID-19 impact on Airbnb market in one of the most severely impacted major cities. It is one of the first attempts to identify shifts in underlying trends in travel based on Airbnb data.\u0000","PeriodicalId":14136,"journal":{"name":"International Journal of Housing Markets and Analysis","volume":" ","pages":""},"PeriodicalIF":1.7,"publicationDate":"2023-01-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46782953","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 2
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