Journal of Property Research最新文献_第3页

Connectedness structure of Pan-European Equity REITs 泛欧股票型REITs的关联结构

IF 1.9

Journal of Property Research Pub Date : 2023-02-26 DOI: 10.1080/09599916.2023.2171305

Naoufal Nassili, Arnaud Simon, Richard Malle

引用次数: 0

Empirical effects of the designation of milieu protection areas on the residential property market in Berlin 环境保护区的划定对柏林住宅房地产市场的实证影响

IF 1.9

Journal of Property Research Pub Date : 2023-02-22 DOI: 10.1080/09599916.2023.2175712

Lion Lukas Naumann, H. Lischke, M. Nadler

{"title":"Empirical effects of the designation of milieu protection areas on the residential property market in Berlin","authors":"Lion Lukas Naumann, H. Lischke, M. Nadler","doi":"10.1080/09599916.2023.2175712","DOIUrl":"https://doi.org/10.1080/09599916.2023.2175712","url":null,"abstract":"ABSTRACT Milieu protection areas (MPAs) are a frequently used urban policy regulation method in large German cities such as Berlin or Munich. MPAs protect residents from displacement by restricting property rights in designated zones through limitations on modernisation and the conversion of rental apartments into condominiums. Policymakers expect this to have a price-dampening effect and slow gentrification while also anticipating corresponding effects on property markets. This study investigates the long-term empirical effects of these restrictions on the Berlin residential property market and examines how milieu protection affected the purchase prices and transactions of condominiums within Berlin’s MPAs and their surroundings. We relate transaction data from 1991 to 2019 with other neighbourhood characteristics, regress prices, and the number of transactions using geographic information systems and regression difference-in-differences models in different spatial submarkets both inside and outside of the MPAs. Results indicate that milieu protection reduces transaction activity in property markets and regulation has been ineffective in curbing price increases. Meanwhile, limitations on the conversion of former rental flats have led to lower price increases compared to the surrounding areas. This study contributes to the understanding of regulation as a potential determinant of supply and price effects in the property market.","PeriodicalId":45726,"journal":{"name":"Journal of Property Research","volume":null,"pages":null},"PeriodicalIF":1.9,"publicationDate":"2023-02-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43416210","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

Blockchain tokenization of real estate investment: a security token offering procedure and legal design proposal 房地产投资的代币化:证券代币发行程序和法律设计方案

IF 1.9

Journal of Property Research Pub Date : 2023-01-29 DOI: 10.1080/09599916.2023.2167665

Gürcan Avci, Y. O. Erzurumlu

{"title":"Blockchain tokenization of real estate investment: a security token offering procedure and legal design proposal","authors":"Gürcan Avci, Y. O. Erzurumlu","doi":"10.1080/09599916.2023.2167665","DOIUrl":"https://doi.org/10.1080/09599916.2023.2167665","url":null,"abstract":"ABSTRACT The article addresses the legal design challenges of real estate crowdfunding, proposing potential solutions that combine blockchain technology, tokenisation, finance, and law. We propose a blockchain tokenised security design, based on a sertificate similar to Sukuk, an Islamic finance asset, that draws inspiration from Equipment Trust Certificates and is managed by a Special Purpose Vehicle (SPV), that may issue blockchain tokenised certificates. These certificates grant rights related to an investment property. Each series of certificates represents specific property and will be a liability of the SPV that owns the property. In general, the tokens used resemble but remain categorically distinct from asset-backed securities. Their performance still depends on the underlying asset’s performance. Most important, token owners do not become partners in the SPV but are granted fractional ownership and rights on the underlying property. The proposed token mechanism could prevent delays in the transaction process related to transferring ownership of a property. It could split at some point to allow for the creation of ownership and income rights. The proposed security design potentially protects investors’ legal rights better without standard application of investors becoming partners in the SPV while shortening the transaction times, and increasing transparency and asset liquidity.","PeriodicalId":45726,"journal":{"name":"Journal of Property Research","volume":null,"pages":null},"PeriodicalIF":1.9,"publicationDate":"2023-01-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42404515","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: 4

Shifting prime retailing pitches. A GIS analysis of the spatial adaptations in city centre retail markets 改变主要零售宣传。城市中心零售市场空间适应性的GIS分析

IF 1.9

Journal of Property Research Pub Date : 2022-11-26 DOI: 10.1080/09599916.2022.2141133

A. Orr, J. Stewart, Cath Jackson, James T. White

{"title":"Shifting prime retailing pitches. A GIS analysis of the spatial adaptations in city centre retail markets","authors":"A. Orr, J. Stewart, Cath Jackson, James T. White","doi":"10.1080/09599916.2022.2141133","DOIUrl":"https://doi.org/10.1080/09599916.2022.2141133","url":null,"abstract":"ABSTRACT In this paper, the density and location of retail properties located within the primary retailing areas of Edinburgh, Glasgow, Hull, Liverpool and Nottingham are investigated over a 17 year period. The study is novel due to the original spatial databases developed and unique combination of established methods employed to explore spatial change within these northern UK cities. The paper starts from the premise that retailing markets display adaptive resilience where adaptations in use and variation in retail clustering will occur in response to endogenous and exogenous shocks that disturb the market’s agglomerative and competitive effects. The results suggest that significant new retail-led developments have intra-urban spatial outcomes that impact on the size and location of prime and secondary retailing pitches. In urban retailing centres where there have been no substantive supply disruptions, disturbances in the socio-economic environment can create contractions at the peripheral edges of the prime retailing pitch. This study is significant in providing a historical perspective of the micro-level effects of new development, changing customer shopping habits and shifting retailer location preferences. In addition, the research develops replicable and robust methods that can be employed to examine and monitor spatial change in urban centres. Understanding these dynamic micro-spatial effects are important for the future management of urban centres.","PeriodicalId":45726,"journal":{"name":"Journal of Property Research","volume":null,"pages":null},"PeriodicalIF":1.9,"publicationDate":"2022-11-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44490107","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

Ability to work and health & safety: property user concerns and satisfaction 工作能力和健康安全:财产用户关心和满意

IF 1.9

Journal of Property Research Pub Date : 2022-10-30 DOI: 10.1080/09599916.2022.2138505

J. Freybote, Riëtte Carstens

{"title":"Ability to work and health & safety: property user concerns and satisfaction","authors":"J. Freybote, Riëtte Carstens","doi":"10.1080/09599916.2022.2138505","DOIUrl":"https://doi.org/10.1080/09599916.2022.2138505","url":null,"abstract":"ABSTRACT The satisfaction of property users with facilities and property management has been found to be affected, amongst others, by building features. However, we argue that the importance of building features for user satisfaction varies across user concerns about their ability to work and health & safety. We hypothesise that building comfort increases in importance for the satisfaction of users with ability to work concerns, compared to those without these concerns. Additionally, building cleanliness is of higher importance to users with health & safety concerns than those without. In our empirical analysis, we use a sample of 1,895 respondents from a multi-year survey (2015–2019) and employ mixed-effects regression. Our results are in line with expectations and suggest a moderating effect of user concerns on the relations of building features and user satisfaction. We also find a consistent impact of user expectations on their satisfaction. Our findings are relevant to property and facilities managers as they suggest that accounting for user concerns allows a more differentiate understanding of user satisfaction, which may be particularly important following the COVID-19 pandemic.","PeriodicalId":45726,"journal":{"name":"Journal of Property Research","volume":null,"pages":null},"PeriodicalIF":1.9,"publicationDate":"2022-10-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"59503316","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 impact of cash financing on housing prices: a theoretical framework and empirical evidence from a volatile United States market cycle 现金融资对房价的影响:来自美国波动市场周期的理论框架和经验证据

IF 1.9

Journal of Property Research Pub Date : 2022-09-13 DOI: 10.1080/09599916.2022.2119878

R. Aroul, J. A. Hansz

引用次数: 0

The impact of brand affiliation on asset values: the case of UK hotels 品牌归属对资产价值的影响：以英国酒店为例

IF 1.9

Journal of Property Research Pub Date : 2022-09-13 DOI: 10.1080/09599916.2022.2114925

R. Aroul, D. Hodari, G. Bianchi, Gwen Martignoni

引用次数: 0

Property valuation problems and market context – evidence from Kenya 房地产估价问题和市场背景——来自肯尼亚的证据

IF 1.9

Journal of Property Research Pub Date : 2022-09-05 DOI: 10.1080/09599916.2022.2119879

I. Cheloti, M. Mooya

{"title":"Property valuation problems and market context – evidence from Kenya","authors":"I. Cheloti, M. Mooya","doi":"10.1080/09599916.2022.2119879","DOIUrl":"https://doi.org/10.1080/09599916.2022.2119879","url":null,"abstract":"ABSTRACT Property valuation problems such as valuation inaccuracies/variations, client influence, and the use of heuristics persist despite efforts by professional bodies and researchers to improve the practice of valuation worldwide. While some studies attribute the above problems to limited information, most studies link these problems to valuer misconduct. Previous studies in developing countries mirror those of developed nations despite the different property market environments in the two nations; they place little emphasis on market-related problems. Further, there is limited evidence on why valuation problems persist in developing countries. The main objective of this study is to establish why valuation problems in Kenya persist despite efforts to minimise them. The study utilised a quantitative research design involving a survey and experiment of registered and practicing valuers in Kenya. Findings indicate that the above valuation problems persist because of the nature of the valuation environment in Kenya, characterised by limited information. This is typical of many other developing countries. The study makes a critical contribution to knowledge as it builds on the existing literature by providing additional empirical support on why valuation problems persist while introducing appropriate measures to address them.","PeriodicalId":45726,"journal":{"name":"Journal of Property Research","volume":null,"pages":null},"PeriodicalIF":1.9,"publicationDate":"2022-09-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49060097","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

Cointegration between housing prices: evidence from one hundred Chinese cities 房价协整：来自中国百个城市的证据

IF 1.9

Journal of Property Research Pub Date : 2022-08-25 DOI: 10.1080/09599916.2022.2114926

Xiaojie Xu, Yun Zhang

引用次数: 20

An exploration of the role and significance of specialist land promoters in the housing land development market in the UK 专业土地推广人在英国住房土地开发市场中的作用和意义探讨

IF 1.9

Journal of Property Research Pub Date : 2022-08-22 DOI: 10.1080/09599916.2022.2114927

P. Mcallister, E. Shepherd, P. Wyatt

{"title":"An exploration of the role and significance of specialist land promoters in the housing land development market in the UK","authors":"P. Mcallister, E. Shepherd, P. Wyatt","doi":"10.1080/09599916.2022.2114927","DOIUrl":"https://doi.org/10.1080/09599916.2022.2114927","url":null,"abstract":"ABSTRACT Of all the inputs into housing production, land can be the most challenging to source. Over the last decade, the land promotion sector has taken a much more prominent role in converting the planning status of land in return for a proportion of the resultant increase in land value. This paper explores the significance of specialist land promoters in the strategic housing land market in the UK. The paper makes three contributions. First, it maps the range of organisations that promote land through the UK planning system and demonstrates the diversity and definitional fuzziness of the organisations operating in the contemporary UK land market. Second, in contrast to prior studies which have grouped specialist land promoters with other types of market actor, it finds that specialist land promoters made a relatively small contribution to the supply of housing land in the study period. Third, the paper shows that housebuilders account for a minority of planning consents for residential development, thereby suggesting that the degree of vertical integration in the land and housing development sector in the UK may be lower than presumed.","PeriodicalId":45726,"journal":{"name":"Journal of Property Research","volume":null,"pages":null},"PeriodicalIF":1.9,"publicationDate":"2022-08-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44553813","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