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Article
Publication date: 7 June 2022

Özge Gürsoy and Nazlı Ferah Akıncı

The 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…

Abstract

Purpose

The 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/approach

The 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.

Findings

Overall 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/value

This 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.

Details

Property Management, vol. 42 no. 2
Type: Research Article
ISSN: 0263-7472

Keywords

Article
Publication date: 4 April 2024

Katharina Oktabec and Nadine Wills

Sustainability has become an integral part of the real estate industry, alongside advancing globalization and demographic development. Due to real estate's influence on greenhouse…

Abstract

Purpose

Sustainability has become an integral part of the real estate industry, alongside advancing globalization and demographic development. Due to real estate's influence on greenhouse gas emissions throughout its life cycle, both the regulatory and legal requirements concerning the sustainability of real estate are growing and, as a result of social responsibility, the interest of tenants and investors in sustainable real estate. However, criteria for measuring the ecological sustainability of a real estate investment in the purchase process in order to reduce the risk of including “stranded assets” in the portfolio are missing. This paper aims to address the need to integrate the issue of carbon stranding into existing sustainability rating tools.

Design/methodology/approach

Existing tools are examined based on defined criteria to determine whether they are suitable for purchasing a property before suitable tools for purchase are compared. Strengths and weaknesses are identified, which are to be remedied with the scoring tool. Taxonomy regulation is integrated into the existing valuation basis as a legal regulation.

Findings

The result is a scoring tool that enables real estate companies to measure and evaluate the ecological sustainability performance of a property during the acquisition process, taking into account the three aspects of sustainability and considering them when determining an appropriate purchase price in line with market conditions. Moreover, the developed tool helps to minimize the risk of acquiring a stranding asset.

Research limitations/implications

The environmental, social and governance (ESG) framework employed in this study does not incorporate governance considerations. While the analysis extensively evaluates the building's environmental and social aspects, it does not extend to examining the governance practices of the companies involved. Thus, the assessment is confined solely to the physical attributes of the property without accounting for broader corporate governance factors.

Practical implications

The developed scoring tool represents a valuable tool for the real estate industry, offering insights into sustainability performance during property acquisitions and providing a structured framework for decision-making. By addressing both certification and taxonomy regulation requirements, the tool contributes to the industry's evolution toward more sustainable and environmentally responsible real estate practices.

Originality/value

In response to the growing importance of sustainability in the real estate industry, this paper introduces a novel scoring tool for evaluating the sustainability of real estate investments during the acquisition process.

Details

Journal of Property Investment & Finance, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1463-578X

Keywords

Article
Publication date: 24 April 2024

Paul Andriot, Fabrice Larceneux and Arnaud Simon

In this article, the aim is to document the divergences/convergences between the market perceptions of quality and the financial estimations for office buildings relative to the…

Abstract

Purpose

In this article, the aim is to document the divergences/convergences between the market perceptions of quality and the financial estimations for office buildings relative to the notion of centrality and the distance to the central business district (CBD).

Design/methodology/approach

Based on a hierarchical approach that decomposes and estimates the perceived quality of buildings from the stakeholders’ perspectives, we study the geographies of perceived quality measures in the Greater Paris Metropolis and compare them to the financial geography.

Findings

The perceived location quality decreases with distance from the CBD whereas judgments on the built structure and the workplace do not, exhibiting a ring-shaped pattern. The gradient of the components of the perceived quality are heterogeneous, having positive, negative or null values. Appraisers tend only to consider the quality of location in their estimations.

Originality/value

This article raises the issue of fair spatial judgments by appraisers and the financial market. Monocentricity is not the rule in the market perceptions of quality. It suggests that financial estimates are strongly biased, with mental representation of centrality as a judgmental heuristic.

Details

Journal of European Real Estate Research, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1753-9269

Keywords

Article
Publication date: 23 May 2023

Olabode Emmanuel Ogunmakinde, Temitope Egbelakin, Willy Sher, Temitope Omotayo and Mercy Ogunnusi

Establishing a more sustainable built environment is an increasing global concern for the construction industry. Despite the intrinsic and extrinsic obstacles the stakeholders…

Abstract

Purpose

Establishing a more sustainable built environment is an increasing global concern for the construction industry. Despite the intrinsic and extrinsic obstacles the stakeholders face, huge efforts are required to transition to a smooth, sustainable construction (SC) practice. This study identifies and discusses cogent obstacles to SC in developing nations.

Design/methodology/approach

The Preferred Reporting Item for systematic reviews and Meta-Analysis (PRISMA) approach was employed to establish research work in SC for developing countries. The databases used were Scopus and Web of Science. Meta-analysis of keywords was analysed thematically. The initial broad search returned 8,420 publications which were filtered and reviewed in-depth to fit the aim of the study, produced only 21 relevant publications from the years 2000–2021.

Findings

The four identified themes of obstacles to SC in developing countries are as follows: construction professional training and education, clients' attitudes and awareness, construction industries' culture and capacity and governments' regulation, policies and economy. The key barriers identified from the meta-analysis include inadequate training and education amongst construction professionals, poor execution of sustainability ethics, poor populace attitude towards sustainability, poor awareness and understanding, dearth of precise data and integrated study and inappropriate priorities about sustainability.

Originality/value

The originality in this study are themes drawn from millennium development goals (MDGs) and sustainable development goals (SDGs) publications related to SC. Consequently, the final framework presented a holistic approach to surmounting the established limitations and aided recommendations for future studies. Thus, setting a background for developing strategies to overcome the limitations and further attain sustainable development (SD).

Details

Smart and Sustainable Built Environment, vol. 13 no. 3
Type: Research Article
ISSN: 2046-6099

Keywords

Open Access
Article
Publication date: 19 May 2022

Christopher Amoah and Jeanne Smith

This study aims to examine the challenges for green retrofitting implementation in existing residential buildings to lower the running cost and achieve a better energy-efficient…

4437

Abstract

Purpose

This study aims to examine the challenges for green retrofitting implementation in existing residential buildings to lower the running cost and achieve a better energy-efficient system.

Design/methodology/approach

This study adopted a qualitative approach by interviewing conveniently selected 16 construction professionals, made up of architects, quantity surveyors and engineers. Data received were analysed using the content analysis method.

Findings

The findings revealed that the main barriers to incorporating green retrofitting in the existing residential buildings as the nature of the existing structures, limited knowledge, not being a priority and high costs involved in the process. Moreover, other factors influencing property developers’ decision to apply energy-efficient principles in a residential home include cost (initial capital and maintenance), level of knowledge, nature of the climate in the area, local legislation, more independence and increasing the property’s market value and environmental aspect.

Research limitations/implications

This study is limited to South Africa; thus, the literature available was limited.

Practical implications

People’s perceptions, either wrong or correct, affect their ability to make an informed decision to adopt green retrofitting principles, thereby denying them the opportunity to reap the associated benefits. Therefore, there is an urgent need for the construction industry stakeholders and government to increase educational opportunities for property owners on the importance of green retrofitting.

Originality/value

This study provides the occupants with the possible barriers and problem areas with implementing these principles. They will thus make an informed decision when implementing sustainable design methods.

Details

Journal of Facilities Management , vol. 22 no. 2
Type: Research Article
ISSN: 1472-5967

Keywords

Article
Publication date: 29 March 2024

Ibrahim Yahaya Wuni

Sustainable construction re-engineers the conventional project lifecycle to integrate sustainability solutions. The additional sustainability requirements introduce new layers of…

Abstract

Purpose

Sustainable construction re-engineers the conventional project lifecycle to integrate sustainability solutions. The additional sustainability requirements introduce new layers of complexity, challenges and risks that if unaddressed, can derail the gains in sustainable construction projects. This study developed a multidimensional risk assessment model for sustainable construction projects in the United Arab Emirates (UAE).

Design/methodology/approach

The research activities a comprised comprehensive literature review to shortlist relevant risks, an analysis of the probability – impact rating of the shortlisted risks – and the development of a risk assessment model for SC projects in the UAE. The model is developed based on the multicriteria framework and mathematical formulation of the fuzzy synthetic evaluation approach.

Findings

The developed model quantified the overall risk level in sustainable construction projects to be 3.71 on a 5-point Likert scale, indicating that investment in SC projects in the UAE is risky and should be carefully managed. The developed model further revealed that each of the risk groups, comprising management (3.82), technical (3.78), stakeholder (3.68), regulatory (3.66), material (3.53) and economic risks (3.502), presents a significant threat to realizing outcomes typical of SC projects.

Originality/value

This study developed a multidimensional risk assessment model capable of objectively quantifying the overall risk level and provides decision support to project teams to improve risk management in sustainable construction projects.

Details

Engineering, Construction and Architectural Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0969-9988

Keywords

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