Journal of Property Research最新文献_第4页

Property use diversity and spatial accessibility within urban retailing centres: drivers of retail rents 城市零售中心内的物业使用多样性和空间可达性：零售租金的驱动因素

IF 1.9

Journal of Property Research Pub Date : 2022-03-14 DOI: 10.1080/09599916.2022.2046138

A. Orr, J. Stewart

{"title":"Property use diversity and spatial accessibility within urban retailing centres: drivers of retail rents","authors":"A. Orr, J. Stewart","doi":"10.1080/09599916.2022.2046138","DOIUrl":"https://doi.org/10.1080/09599916.2022.2046138","url":null,"abstract":"ABSTRACT This study investigates the relationship between use and investor diversity, spatial accessibility, and high street retail rents. Spatial quantitative analysis of the high street retail sector remains an underdeveloped area so this paper seeks to bridge this gap and contribute to the debate on the adaptability of urban retailing centres by adopting a spatial fixed-effects panel modelling approach. The empirical findings reveal that diversity and richness in property use tend to have a significant positive impact on retail rental values. The influence of ownership richness on rents is positive implying that rents tend to be higher on streets where there is a greater range in the type of landlords. Walkability, as a measure of spatial accessibility, is found to have a negative relationship with market rents. This is perhaps surprising as it had been expected that the most walkable streets in retailing centres to be the most connected and have the highest rents. This contrary finding may be due to large developments interrupting the street network and restricting the choice and movement of pedestrians. Location on the prime retail pitch has a significant positive relationship with shop rents, whereas proximity to transportation nodes has a less consistent influence.","PeriodicalId":45726,"journal":{"name":"Journal of Property Research","volume":"39 1","pages":"365 - 392"},"PeriodicalIF":1.9,"publicationDate":"2022-03-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45619760","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: 6

Factors affecting land value in an Indian city 影响印度城市土地价值的因素

IF 1.9

Journal of Property Research Pub Date : 2022-01-05 DOI: 10.1080/09599916.2021.2014937

B. Binoy, M. Naseer, P. P. Anil Kumar

{"title":"Factors affecting land value in an Indian city","authors":"B. Binoy, M. Naseer, P. P. Anil Kumar","doi":"10.1080/09599916.2021.2014937","DOIUrl":"https://doi.org/10.1080/09599916.2021.2014937","url":null,"abstract":"ABSTRACT Land valuation is the process of determining the value of the landed property, excluding all human-made improvements. This paper presents a comprehensive assessment and modelling of the land value and its determinants. Thiruvananthapuram, the capital city of Kerala state, is selected as the study area. Land value modelling applied in this study is divided into three stages. The first stage uses a standard hedonic price model for land value estimation and spatial autocorrelation diagnostics. The spatial error model is appropriate for variable selection and modelling based on Moran’s I and Lagrange Multiplier test statistics in the second stage. The last stage of the study uses the spatial error model for land value analysis, and the results are compared with OLS regression. Proximity to major highways, disaster history, concentration of commercial establishments, and permissible FAR are the major factors affecting land value in the study area. Few other parameters like water frontage and noise pollution have a reverse relationship with similar studies in developed countries. The results indicate that factors influencing land value in Indian cities are different from the European and American cities. The study provides critical insights into the land price variation of an Indian city at a micro-level..","PeriodicalId":45726,"journal":{"name":"Journal of Property Research","volume":"39 1","pages":"268 - 292"},"PeriodicalIF":1.9,"publicationDate":"2022-01-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43690092","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

The impact of COVID-19 on house prices in Northern Ireland: price persistence, yet divergent? 新冠肺炎对北爱尔兰房价的影响：价格持续，但存在分歧？

IF 1.9

Journal of Property Research Pub Date : 2022-01-05 DOI: 10.1080/09599916.2021.2023610

M. McCord, D. Lo, J. McCord, P. Davis, M. Haran, P. Turley

{"title":"The impact of COVID-19 on house prices in Northern Ireland: price persistence, yet divergent?","authors":"M. McCord, D. Lo, J. McCord, P. Davis, M. Haran, P. Turley","doi":"10.1080/09599916.2021.2023610","DOIUrl":"https://doi.org/10.1080/09599916.2021.2023610","url":null,"abstract":"ABSTRACT The recent onset of the COVID-19 pandemic has had a pervasive impact on all economies and indeed housing markets. This research investigates the regional impact of the pandemic on the Northern Ireland housing market and provides a unique opportunity to measure short-term reactions to epidemic shocks. Applying a unique dataset, the research measures whether price switching effects are evident as a consequence of the epidemic, and to what extent. In order to achieve this, the research applies spatial lag models to account for the effect of COVID-19 on housing market pricing behaviour. The findings show that the autocorrelation of house prices increased after COVID-19, revealing price persistence driven by behavioural changes. The results further show that a price divergent effect is observable, with the detached sector ‘leading’ the price changes. This price divergence is also apparent for rural dwellings and for neighbourhoods with higher socio-economic standing making them more resistant to the outbreak of COVID-19. This is an important finding as it reveals that epidemics of this nature impact upon housing markets in a heterogeneous way in the short-term, with a clear premium observed for larger housing in healthier and wealthier areas, which may serve to reinforce housing market inequalities.","PeriodicalId":45726,"journal":{"name":"Journal of Property Research","volume":"39 1","pages":"237 - 267"},"PeriodicalIF":1.9,"publicationDate":"2022-01-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43647942","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: 8

‘It’s a man’s world’: the lived experiences of women working in the New Zealand professional commercial property industry “这是一个男人的世界”:新西兰专业商业地产行业女性的生活经历

IF 1.9

Journal of Property Research Pub Date : 2021-11-12 DOI: 10.1080/09599916.2021.1993314

D. Levy, B. Plester, Raewyn Hills, J. Horan

{"title":"‘It’s a man’s world’: the lived experiences of women working in the New Zealand professional commercial property industry","authors":"D. Levy, B. Plester, Raewyn Hills, J. Horan","doi":"10.1080/09599916.2021.1993314","DOIUrl":"https://doi.org/10.1080/09599916.2021.1993314","url":null,"abstract":"ABSTRACT Gender diversity in the workplace results in the increased effectiveness of an organisation. However, within the commercial property profession in many countries including New Zealand (as in a number of other professions), only a small number of women are reaching senior positions. This research investigates why this might be. The study comprises one-to-one in-depth interviews with women currently working or who have previously worked in the commercial property profession in Auckland, New Zealand, to develop an understanding of what forces are at play in women’s choices to participate in the commercial property industry in Auckland – or not. Common lived experiences are identified including passion for the industry and the importance of an effective human resources department, they demonstrate gender imbalance, issues around having children, and difficulties around promotions and wage negotiations. Common challenges were workplace bullying, attitudes towards women, socialising, ‘fitting-in’ and coping with male banter. The study concludes that women working in the commercial property profession in New Zealand have thrived through mentorship, taking ownership of their careers and finding a good employer. The insights as to how women perceive the professional commercial property industry can be used to increase effectiveness by increasing gender diversity and inclusion.","PeriodicalId":45726,"journal":{"name":"Journal of Property Research","volume":"39 1","pages":"148 - 169"},"PeriodicalIF":1.9,"publicationDate":"2021-11-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48595412","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

Is e-commerce an investment risk priced by retail real estate investors? An investigation 电子商务是由零售房地产投资者定价的投资风险吗？调查

IF 1.9

Journal of Property Research Pub Date : 2021-11-02 DOI: 10.1080/09599916.2021.1996447

Carina Kaiser, J. Freybote

引用次数: 6

Second-hand house price index forecasting with neural networks 基于神经网络的二手房价格指数预测

IF 1.9

Journal of Property Research Pub Date : 2021-11-01 DOI: 10.1080/09599916.2021.1996446

Xiaojie Xu, Yun Zhang

引用次数: 27

Key investors and their strategies in the expansion of European student housing investment 扩大欧洲学生住房投资的主要投资者及其策略

IF 1.9

Journal of Property Research Pub Date : 2021-10-29 DOI: 10.1080/09599916.2021.1993315

Danielle Sanderson, S. Özogul

{"title":"Key investors and their strategies in the expansion of European student housing investment","authors":"Danielle Sanderson, S. Özogul","doi":"10.1080/09599916.2021.1993315","DOIUrl":"https://doi.org/10.1080/09599916.2021.1993315","url":null,"abstract":"ABSTRACT The aim of this paper is to understand the expansion process of investment into Purpose Built Student Accommodation (PBSA) in Europe by examining transformations in student housing investment landscapes and uncovering the profiles and strategies of key investors between 2010 and 2020. Using data from Real Capital Analytics, trends in capital structures and profiles of PBSA investors are identified. Investors driving these trends are scrutinised in terms of their investment timelines, locations, hold periods and strategies of portfolio diversification. Furthermore, in-depth interviews with property analysts, PBSA investors, and developers substantiate the quantitative analysis. The empirical results show that Private Equity entered the European PBSA market, starting with the UK, when the yield premium post-GFC justified the perceived risk. Equity funds typically hold their portfolios for around five years and trade counter-cyclically with institutions such as pension funds. PBSA specialists, mainly REITs, have accumulated substantial portfolios, and the REIT structure is well-suited to the steady income which student rents should provide, but their lack of diversification leaves them vulnerable to changes in student demographics and accommodation requirements.","PeriodicalId":45726,"journal":{"name":"Journal of Property Research","volume":"39 1","pages":"170 - 196"},"PeriodicalIF":1.9,"publicationDate":"2021-10-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43411874","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: 5

Are former commercial farmers in Zimbabwe satisfied with the global compensation agreement? 津巴布韦的前商业农民对全球补偿协议满意吗?

IF 1.9

Journal of Property Research Pub Date : 2021-08-17 DOI: 10.1080/09599916.2021.1965644

Benita Zulch, Joseph Awoamim Yacim, P. Paradza

{"title":"Are former commercial farmers in Zimbabwe satisfied with the global compensation agreement?","authors":"Benita Zulch, Joseph Awoamim Yacim, P. Paradza","doi":"10.1080/09599916.2021.1965644","DOIUrl":"https://doi.org/10.1080/09599916.2021.1965644","url":null,"abstract":"ABSTRACT Zimbabwe’s new administration indicated its willingness to end the compensation dispute, which lasted for two decades with former commercial farmers (FCFs), by signing the global compensation agreement (GCA). In the agreement, the Government of Zimbabwe (GoZ) offered to pay the sum of 3.5 billion, United States Dollars (USD) to the FCFs for their expropriated farmlands. A study carried out by the Valuation Consortium (Valcon) before the GCA signing revealed that most of the FCFs accepted the compensation offered by the expropriating authority. Thus far, no study has been done to assess the level of satisfaction of the affected FCFs, with the GCA provisions. Therefore, this study evaluated the views of FCFs and members of the Compensation Committee (MsCC) on this subject. Data were collected through a questionnaire survey which was mailed directly to the Chairperson of the FCFs, who sent it to other members to respond to issues raised. The study found mixed views by the FCFs on their levels of satisfaction with the GCA. Thus, the study concluded that compensation offered was not entirely satisfactory because it did not include accruals for delayed payment, professional fees, and a detailed breakdown of the compensable heads of claim.","PeriodicalId":45726,"journal":{"name":"Journal of Property Research","volume":"39 1","pages":"97 - 119"},"PeriodicalIF":1.9,"publicationDate":"2021-08-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45454639","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 revival of private residential landlordism in Britain through the prism of changing returns 从回报变化的棱镜看英国私人住宅土地制度的复兴

IF 1.9

Journal of Property Research Pub Date : 2021-07-27 DOI: 10.1080/09599916.2021.1962951

Colin Jones, Abdulkader Mostafa

{"title":"The revival of private residential landlordism in Britain through the prism of changing returns","authors":"Colin Jones, Abdulkader Mostafa","doi":"10.1080/09599916.2021.1962951","DOIUrl":"https://doi.org/10.1080/09599916.2021.1962951","url":null,"abstract":"ABSTRACT Unlike many other countries, Britain had a weak private rented sector (PRS) in decline for most of the twentieth century. A revival began from the turn of the millennium. The platform for this rebirth was the removal of regulation and the arrival of buy to let (BTL) mortgages for individuals at competitive interest rates. The dynamic and rapid development of the PRS cannot be understood in isolation to the financial rewards that the sector was offering to its investors. This paper calculates the internal rate of return (IRR) from investing in BTL, since its inception in 1996. It uses a financial model to simulate average BTL purchases in eleven regions, investing in every year over the period from 1996 to 2015. The paper finds strong evidence that the early spectacular growth in the BTL market was stimulated and sustained by very attractive perceived rewards. Over the entire analysis period from 1996 to 2015, investors have attained an average IRR of 12%, compared to 5.8% from the stock market. The paper also finds that recent unfavourable tax changes lower the returns, but that the sector will continue to offer a much higher return than that offered by the equity market.","PeriodicalId":45726,"journal":{"name":"Journal of Property Research","volume":"39 1","pages":"56 - 76"},"PeriodicalIF":1.9,"publicationDate":"2021-07-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45209052","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

Hume’s guillotine - the ‘is-ought’ problem in property valuation theory 休谟的断头台——房地产估价理论中的“应该是”问题

IF 1.9

Journal of Property Research Pub Date : 2021-04-25 DOI: 10.1080/09599916.2021.1918222

M. Mooya

引用次数: 0