Property Management最新文献

{"title":"House purchase intention during pandemic COVID-19 in Surabaya, Indonesia","authors":"A. Njo, Kathryn Sugeng","doi":"10.1108/pm-03-2022-0020","DOIUrl":"https://doi.org/10.1108/pm-03-2022-0020","url":null,"abstract":"PurposeSince the COVID-19 occurred, large-scale social restriction (Pembatasan Sosial Berskala Besar-PSBB) has taken place, and that has led family members to carry out their activities at home. This condition impacts both directly and indirectly the intention of house purchase, as a result of lifestyle changes during the pandemic. A house now serves as a residence, office, as well as school. This study aims to determine the influences of physical attributes, neighborhood preferences, financial concerns, financial risk preferences, health risk preferences, and COVID anxiety towards house purchase intention.Design/methodology/approachThis associative study was carried out from February to May 2021 in the residents of Surabaya aged 20–34 years old as prospective first-home buyers, with relatives at risk of contracting COVID-19 (belong in the susceptible group or live with a family member who is prone to the COVID-19 virus, including having a comorbidity, elderly (= 60 years old), having a low immune system or autoimmune disease, obese). Data were gathered using online questionnaires from which 226 respondents were acquired. Data were analyzed using the PLS-SEM 3.0 technique.FindingsThe results showed that physical attributes, neighborhood preferences, financial concerns, financial risk preferences, and COVID anxiety significantly influence house purchase intention. Furthermore, neighborhood preferences, financial risk preferences, and COVID anxiety as moderating variables also significantly influence house purchase intention.Practical implicationsThis study was carried out in Surabaya as the second-largest city after Jakarta with the highest COVID-19 mortality rate, which is useful for exploring the lifestyle changes and property demand as a result of the pandemic; Developers gain a business opportunity by offering properties that are multifunction and health-oriented.Originality/valueThe COVID-19 pandemic becomes a trigger for a change in the property market that needs to be studied further.","PeriodicalId":46102,"journal":{"name":"Property Management","volume":null,"pages":null},"PeriodicalIF":1.0,"publicationDate":"2022-09-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48618436","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}

{"title":"Modelling apartments values in the Nairobi metropolitan area, Kenya","authors":"E. K. Museleku","doi":"10.1108/pm-03-2022-0023","DOIUrl":"https://doi.org/10.1108/pm-03-2022-0023","url":null,"abstract":"PurposeThe purpose of this paper is to determine the most significant factors influencing apartment values in Nairobi Metropolitan Area (NMA), Kenya and develop a valuation model using the identified variables. The paper is thus promoting the adoption of advanced, more reliable and accurate valuation methods in developing economies such as Kenya. Therefore, the paper demonstrates the potential of the hedonic pricing method (HPM) in property valuation by making objective adjustments to comparable sales data.Design/methodology/approachThe paper utilizes a case study design by analysing recent (January 2020 to December 2021) apartment sales and apartment attributes in NMA. A sample size of 264 transactions was analysed using the HPM.FindingsThe study identified six significant factors affecting apartment values in the study area: apartment size, location, floor finishes, provision of shopping facilities, swimming pool and gym. A valuation model has been developed using the six variables.Research limitations/implicationsThe paper is contributing to the ongoing global debate on the accuracy, reliability and validity of property valuations with particular emphasis on the developing economies to adopt the more accurate, efficient and reliable valuation approaches.Practical implicationsThe findings are useful to property valuers and estate managers in determining the most statistically significant attributes affecting apartment values in the NMA hence enabling them to offer informed professional advice. However, the findings of the study are limited to the study area since real estate is heterogeneous.Social implicationsProperty investors, financiers and other stakeholders in the society will benefit from the findings of this study in their decision-making process. Additionally, wide adoption of the more reliable and accurate valuation approaches would foster public confidence in valuation and estate management professional services leading to enhanced consumption of these services by the society and promoting public care.Originality/valueThe paper is promoting valuation accuracy, efficiency and reliability in the developing economies by advocating for advanced valuation methods. It is the first attempt to develop a valuation model for apartments in the NMA, the capital city of Kenya and the business hub of East and Central Africa.","PeriodicalId":46102,"journal":{"name":"Property Management","volume":null,"pages":null},"PeriodicalIF":1.0,"publicationDate":"2022-09-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49491809","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}

{"title":"The use of blended synchronous learning for property education in and beyond the COVID-19 pandemic","authors":"K. Cheung, Hao Wu","doi":"10.1108/pm-11-2021-0086","DOIUrl":"https://doi.org/10.1108/pm-11-2021-0086","url":null,"abstract":"PurposeThe COVID-19 outbreak has brought serious disruptions worldwide and higher education has been at the forefront of this global pandemic. To adapt to the “new normal”, new technology-backed teaching mode emerges in universities as valued option to integrate face-to-face and remote teaching-learning activities. Blended synchronous learning (BSL) forms part of this new trial. This paper investigates the relevance and implications of BSL for university teaching and learning in the field of property and built environments in and beyond the transitional period of COVID disruptions and a time of global uncertainty.Design/methodology/approachThis paper adopts case study approach to the understanding of BSL and its initial planning and design for property course delivery at the University of Melbourne. A review of literature helps formulate an analytical lens for the delivery mode and its significance and challenge in enhancing student learning experience. It also brings insights from the experience of participant observation.FindingsThis paper envisions new possibilities and challenges projecting the BSL as innovative and useful teaching-learning mode for property and built environments education in and beyond the pandemic. The analysis demonstrates the pedagogical values of BSL in facilitating supportive and equitable learning environment to achieve quality learning outcomes for property education. It identifies opportunities and challenges corresponding the underlying logic and practice of BSL.Originality/valueThis paper is the first to examine the use of BSL delivery and its pedagogical significance in post-pandemic property education. It sheds light on innovative pedagogical design for academic institutions to manage pandemic and technological disruptions to teaching-learning.","PeriodicalId":46102,"journal":{"name":"Property Management","volume":null,"pages":null},"PeriodicalIF":1.0,"publicationDate":"2022-09-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41686484","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}

{"title":"Remodeling as a circular approach in built facilities: an assessment of lifecycle factors towards successful delivery","authors":"M. Hassanain, Mohammed S. Mahroos","doi":"10.1108/pm-04-2022-0027","DOIUrl":"https://doi.org/10.1108/pm-04-2022-0027","url":null,"abstract":"PurposeThis research presents a review and assessment of the factors affecting the implementation of remodeling projects, during their lifecycle.Design/methodology/approachA mixed design approach comprising of qualitative and quantitative methods was utilized. The research commenced with a literature review to identify the factors affecting remodeling projects over their lifecycle phases, namely re-programing, design, construction, and operation and maintenance. A survey was administered, to solicit experts' evaluation of importance, on a sample of 90 professionals, including 30 architects, 30 contractors and 30 real estate developers, to obtain a diversified assessment of the factors. Based on the values of their relative importance indices, a set of 27 factors were ranked and correlated, among all areas, to expose the differentiation of their views.FindingsThe research has empirically determined that data availability of the remodeling project, contractor competency for carrying out the remodeling project, and safety during the disassembly and demolition (D&D) activities are the most important lifecycle factors leading to a successful delivery of the remodeling projects. These factors provide a practical guide for professionals endeavoring on delivering a successful and effective remodeling of built facilities.Originality/valueThis research explores professional practice in comparison to the literature and the legislative discourses, to ensure an effective delivery of remodeling projects over their lifecycle. This research provides practitioners, and regulators with a lacked area of research, while introducing a thorough investigation upon the factors affecting remodeling projects, their importance and ranking, from a project's lifecycle perception.","PeriodicalId":46102,"journal":{"name":"Property Management","volume":null,"pages":null},"PeriodicalIF":1.0,"publicationDate":"2022-08-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41367149","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}

{"title":"Evolvement of ROSCA to real property acquisition as a form of interest-free SBF model: a PRISMA-compliant systematic review","authors":"Rashed Jahangir, Mehmet Bulut, Yusuf Dinc","doi":"10.1108/pm-03-2022-0025","DOIUrl":"https://doi.org/10.1108/pm-03-2022-0025","url":null,"abstract":"PurposeThis study aims to investigate the evolvement of the concept and practice of the Rotating Savings and Credit Association (ROSCA) from informal fund collection for indivisible durables to real property acquisition under the interest-free SBF model by analyzing the previously conducted research that focused on the concept in terms of names, forms, and natures.Design/methodology/approachA PRISMA-compliant systematic literature review is adopted to ascertain the most relevant studies from various sources and analyze the extracted data or items to accomplish the research objective. Besides, bibliometric network, thematic, and statistical analysis are also applied to bolster the findings acquired from the systematic review. Furthermore, this study mathematically formulates and introduces the customized PRISMA systematic flowchart.FindingsThe results reveal that the concept of ROSCA has evolved over the years from informal to formal, micro to macro, individual to institutional, social to business, and fund collection for purchasing household items to real property acquisition since 1962. In this process, the focus area of the research has been shifted from characteristics, operation, and economics to law; source of funds, and history to social; benefits and contribution to digital, risk, and savings behaviour. It is noticed that the majority of the study are Africa-centric, followed by Asia; academic discussion on the ROSCA covers most of the social and economic arena, except the real property acquisition aspect. However, the SBF concept fills up this gap by introducing a real-property-acquisition-centric ROSCA model. The authors provide future agendas regarding focus areas that researchers may consider to develop the SBF concept.Originality/valueThe study focuses on the evolvement of a savings-based model. No study concentrates on the evolution process of the model from ROSCA to SBF; in fact, no conspicuous academic study is found regarding the systematic review of ROSCA in the literature archive.","PeriodicalId":46102,"journal":{"name":"Property Management","volume":null,"pages":null},"PeriodicalIF":1.0,"publicationDate":"2022-08-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47905846","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}

{"title":"Infrastructure development in higher institutions: the role of private organisations via unexplored expanded corporate social responsibility (ECSR)","authors":"Andrew Ebekozien, M. S. Samsurijan, C. Aigbavboa, R. B. Radin Firdaus, Noor Alyani Nor Azazi, G. C. Amadi","doi":"10.1108/pm-03-2022-0015","DOIUrl":"https://doi.org/10.1108/pm-03-2022-0015","url":null,"abstract":"PurposeFunding infrastructural facilities of higher institutions, especially in some developing nations such as Nigeria, that is under-funded, is a challenge in the current era. Private organisations participation in infrastructure development via a proposed expanded corporate social responsibility (ECSR) may enhance infrastructural facilities provision. There is a paucity of literature regarding ECSR, a form of infrastructure tax relief providing infrastructural facilities for higher institutions. Therefore, the study investigated the role of private organisations via a proposed ECSR in the provision of infrastructure and proffer ways to enhance higher institutions' infrastructure development delivery in Nigeria.Design/methodology/approachThe study data were collated via face-to-face interviews and observation of existing buildings. From the six geo-political zones, two higher institutions each were selected for a good representation across Nigeria. Saturation was achieved with 26 participants interviewed. The emerged three main themes were analysed via thematic analysis.FindingsFindings show inadequate infrastructure development in Nigerian higher institutions. Lack of policy and institutional framework, lax governance, level of transparency, and corruption, emerged as the key issues that may hinder private organisations from participating in public higher institutions infrastructure development delivery in Nigeria via ECSR. Others are lack of autonomy, inadequate planning, high level of impunity, political affiliation, poor management, and access to funding. The study proffers some recommendations based on these findings.Research limitations/implicationsThis research is restricted to the role of private organisations via ECSR in infrastructure development (buildings) in Nigeria's public higher institutions. Future study is needed to validate the proposed ECSR framework in developing countries for the provision of buildings for higher institutions in their host communities.Practical implicationsThe paper will advance the philosophy of corporate social responsibility to the provision of building facilities in host communities' higher institutions by private companies through tax relief and supported by a proposed Presidential Executive Order.Originality/valueThe proposed ECSR framework can be used to improve building facilities in Nigeria's higher institutions. This may assist and stir up policymakers to explore the proposed model and back up with an established policy such as infrastructure tax relief (ITR) for implementation.","PeriodicalId":46102,"journal":{"name":"Property Management","volume":null,"pages":null},"PeriodicalIF":1.0,"publicationDate":"2022-08-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43481346","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}

{"title":"Measuring the impact of heavy rail transport infrastructure on house prices in Melbourne, Australia: a case study of Mernda rail extension project","authors":"Maojian Zhang, J. Shukla","doi":"10.1108/pm-02-2022-0013","DOIUrl":"https://doi.org/10.1108/pm-02-2022-0013","url":null,"abstract":"PurposeThe research examines the impact of heavy rail transport infrastructure on residential property prices in Melbourne at different stages of project development using the Mernda Rail Extension Project as a case study.Design/methodology/approachA difference-in-difference approach is used to quantitatively measure the magnitude of change in the house price at different stages of rail transport infrastructure project development.FindingsWhen controlling for a range of structural, neighbourhood, and locational attributes, the authors find that properties within 800 m from the proposed train station are 8.7% higher in value than those outside 800 m (but within 1,600 m). However, during the project's construction, the project's benefits in the form of house price appreciation are not fully realised. “Unrealised benefit” is attributed to the negative externalities of construction works and apprehensions associated with the project's shelving and time delays.Research limitations/implicationsDepending on the availability of data on residential property transactions in the future, a spatial analysis of rail infrastructure's radius of catchment effect is needed.Practical implicationsFindings from this research are beneficial for policymakers concerned with transport and land use planning, property valuation for taxation and mortgage purposes.Originality/valueThis research contributes to the knowledge of the impact of the rail project on house prices in Melbourne. While there are earlier studies on the topic, there is limited understanding of this prime Australian city attractive to domestic and foreign investors.","PeriodicalId":46102,"journal":{"name":"Property Management","volume":null,"pages":null},"PeriodicalIF":1.0,"publicationDate":"2022-06-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49304125","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}

{"title":"Examining housing quality in Turkey through resident preferences and their housing conditions: a survey study","authors":"Özge Gürsoy, Nazlı Ferah Akıncı","doi":"10.1108/pm-06-2021-0039","DOIUrl":"https://doi.org/10.1108/pm-06-2021-0039","url":null,"abstract":"PurposeThe inadequacy of regulations, the uncertainty of the quality of houses produced and the needs of users all highlight the need for a house analysis in Turkey. The goal of this study is to understand housing quality in Turkey based on the gap between expectations and existing housing stock, to identify the main housing expectations and the problematic issues in the current housing situation.Design/methodology/approachThe authors designed a survey using the quality indicators of several well-known housing quality assessment tools to reveal residents' housing preferences and current housing situation in Turkey. The authors analyzed the survey results to identify the gap between housing preferences and existing conditions to reveal the housing quality of Turkish housing.FindingsOverall results show that residents in Turkey, regardless of their demographics, want and need better houses. It was determined that physical conditions, safety, aesthetics and accessibility are the issues for which the expectations of the participants are high and the lack of which is most felt.Originality/valueThis paper reveals the residents' perspective on housing and their housing quality. It emphasizes the need for more research on housing quality, the need for updated regulation and necessity of a housing quality assessment tool in Turkey.","PeriodicalId":46102,"journal":{"name":"Property Management","volume":null,"pages":null},"PeriodicalIF":1.0,"publicationDate":"2022-06-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49290007","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}

{"title":"Designing an optimal neural network architecture: an application to property valuation","authors":"Chan-Jae Lee","doi":"10.1108/pm-12-2021-0106","DOIUrl":"https://doi.org/10.1108/pm-12-2021-0106","url":null,"abstract":"PurposeThe success of a neural network depends on, among others, an architecture that is appropriate for the task at hand. This study attempts to identify an optimal architecture of a neural network in the context of property valuation, and aims to test the ability of connecting related neural networks to reduce the property valuation error.Design/methodology/approachThis study explores efficient network architectures to estimate land and house prices in Seoul, South Korea. The input is structured data, and the embedding technique is used to process high-cardinality categorical variables.FindingsThe shared architecture of a network for simultaneous estimation of both land and houses was revealed to be the best performing network. Through weight sharing between relevant layers in networks, the root-mean-square error (RMSE) for land price estimation was reduced significantly, from 0.55–0.68 using the baseline architecture, to 0.44–0.47 using the shared architecture.Originality/valueThe study results are expected to encourage active investigation of efficient architectures by using domain knowledge, and to promote interest in using structured data, which is still the dominant type in most industries.","PeriodicalId":46102,"journal":{"name":"Property Management","volume":null,"pages":null},"PeriodicalIF":1.0,"publicationDate":"2022-06-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48545382","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}

{"title":"Factors affect the housing prices in China: a systematic review of papers indexed in Chinese Science Citation Database","authors":"Na Li, R. Li, Jotikasthira Nuttapong","doi":"10.1108/pm-11-2020-0078","DOIUrl":"https://doi.org/10.1108/pm-11-2020-0078","url":null,"abstract":"PurposeThis paper aims to explore the factors that affect housing prices as per Chinese articles indexed in the Chinese Science Citation Database (CSCD). There were different foci regarding what drove housing prices in China in Chinese articles, and international journal articles in English. As most previous English articles only threw light on international research, it motivated the researchers to systematically review Chinese literature’s factors that affected housing prices in China.Design/methodology/approachThis paper reviewed housing price research articles indexed in the two largest Chinese academic research databases: the CSCD and China Knowledge Infrastructure Engineering Database (CNKI.NET). It systematically collected the data and adopted descriptive analysis techniques and synthesis.FindingsThis research reviewed the literature published from 2015 to 2020 and revealed some unique factors affecting China's housing prices. For example, research focused on administrative aspects such as macroeconomic regulation and control (often known as macro control). Authors of Chinese articles suggested that the two-child policy affected housing prices, which differed from that in the English journal articles. The research results implied that researchers should read top Chinese journals on top of good international journals when they study China's real estate market in the future.Research limitations/implicationsBecause the domestic real estate market started late, domestic real estate transaction data and real estate-related statistics are more difficult to obtain. The research is mostly based on the relationship between supply and demand, government policy and individual consumer factors, and the sample has a short time span.Practical implicationsAs China is a planned economy country, administrative factors are one main factor that affects the housing price. There were a significant number of articles in Chinese that considered this factor to be the main driver of the real estate price. It included government investment and macro-control, i.e. direct government intervention to cool down the overheated economy. Yet, there are few English articles that threw light on this factor including the commodity housing supply and government behaviour that affect housing price. The second-child policy, which is unique in China, also played an important role in the determination of the housing price. In the articles indexed in CNKI, the second-child rate, willingness to have a second child or having a second child were mentioned in the Chinese articles but not the English ones.Social implicationsIn this paper, the economic, social, administrative and environmental factors were summarised, which basically covered all the factors affecting housing prices. The administrative factors were a special group of factors that affect the housing price because of the country's planned economic system. Secondly, it provided useful information to real estate development e","PeriodicalId":46102,"journal":{"name":"Property Management","volume":null,"pages":null},"PeriodicalIF":1.0,"publicationDate":"2022-04-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44189871","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}