Search results

1 – 10 of 358
Article
Publication date: 11 April 2024

Xiaowei An, Sicheng Ren, Lunyan Wang and Yehui Huang

The purpose of this paper is to explore the support for multi-party collaboration in project construction provided by building information modeling (BIM). Based on the perspective…

Abstract

Purpose

The purpose of this paper is to explore the support for multi-party collaboration in project construction provided by building information modeling (BIM). Based on the perspective of value co-creation, the research results can provide support for the collaborative application and contract design of BIM platform.

Design/methodology/approach

In this paper, an evolutionary game model involving the owner, designer and constructor is constructed by using prospect theory and evolutionary game theory. Through simulation analysis, the evolution law of the strategy choice of each party in the collaborative application of BIM platform is discussed and the key factors affecting the strategy choice of all parties are analyzed.

Findings

The results show that there is an ideal local equilibrium point with progressive stability in the evolutionary game between the three parties: “the construction party shares information, the designer receives the information and optimizes the project and the owner does not provide incentives”; in addition, the opportunistic behaviors of the design and construction parties, as well as the probability of such behaviors being detected and the subsequent punishment have a significant impact on the evolutionary outcome.

Originality/value

This method can provide support for the collaborative application and contract design of BIM platform.

Details

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

Keywords

Article
Publication date: 19 February 2024

Benjamin Kwakye and Tze-Haw Chan

Market sentiment has shown to influence housing prices in the global north, but in emerging economies, the nexus is rare to chance on in the current state of science for policy…

Abstract

Purpose

Market sentiment has shown to influence housing prices in the global north, but in emerging economies, the nexus is rare to chance on in the current state of science for policy direction. More importantly in the recent decade where policymakers are yet to conclude on the myriad of factors confronting the housing market in sub-Saharan Africa inhibiting affordability. This paper therefore examines the impact of market sentiment on house prices in South Africa.

Design/methodology/approach

The study used the Autoregressive Distributed Lag (ARDL) approach with quarterly data spanning from 2005Q1 to 2020Q4.

Findings

In all, it was established that market sentiment plays a minimal role in the property market in South Africa. But there was enough evidence of cointegration from the bound test between sentiment and house prices. Nevertheless, the lag values of sentiment pointed to a rise in house prices. Exchange rate volatilities and inflation had a statistically significant effect on prices in both the long and short term, respectively.

Research limitations/implications

Policymakers could still monitor market sentiment in the housing market due to the strong chemistry between house prices and sentiment, as evidenced from the bound test, but focus on economic fundamentals as the main policy tool for house price reduction.

Originality/value

The findings and the creation of the sentiment index make an invaluable contribution to the paper and add to the paucity of literature on the study of market sentiment in the housing market.

Details

International Journal of Housing Markets and Analysis, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1753-8270

Keywords

Open Access
Article
Publication date: 29 April 2024

Evangelos Vasileiou, Elroi Hadad and Georgios Melekos

The objective of this paper is to examine the determinants of the Greek house market during the period 2006–2022 using not only economic variables but also behavioral variables…

Abstract

Purpose

The objective of this paper is to examine the determinants of the Greek house market during the period 2006–2022 using not only economic variables but also behavioral variables, taking advantage of available information on the volume of Google searches. In order to quantify the behavioral variables, we implement a Python code using the Pytrends 4.9.2 library.

Design/methodology/approach

In our study, we assert that models relying solely on economic variables, such as GDP growth, mortgage interest rates and inflation, may lack precision compared to those that integrate behavioral indicators. Recognizing the importance of behavioral insights, we incorporate Google Trends data as a key behavioral indicator, aiming to enhance our understanding of market dynamics by capturing online interest in Greek real estate through searches related to house prices, sales and related topics. To quantify our behavioral indicators, we utilize a Python code leveraging Pytrends, enabling us to extract relevant queries for global and local searches. We employ the EGARCH(1,1) model on the Greek house price index, testing several macroeconomic variables alongside our Google Trends indexes to explain housing returns.

Findings

Our findings show that in some cases the relationship between economic variables, such as inflation and mortgage rates, and house prices is not always consistent with the theory because we should highlight the special conditions of the examined country. The country of our sample, Greece, presents the special case of a country with severe sovereign debt issues, which at the same time has the privilege to have a strong currency and the support and the obligations of being an EU/EMU member.

Practical implications

The results suggest that Google Trends can be a valuable tool for academics and practitioners in order to understand what drives house prices. However, further research should be carried out on this topic, for example, causality relationships, to gain deeper insight into the possibilities and limitations of using such tools in analyzing housing market trends.

Originality/value

This is the first paper, to the best of our knowledge, that examines the benefits of Google Trends in studying the Greek house market.

Details

EconomiA, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1517-7580

Keywords

Article
Publication date: 22 September 2022

Na Li and Rita Yi Man Li

This paper aims to provide a comprehensive bibliometric study of housing prices according to the articles collected by the Web of Science (WOS).

Abstract

Purpose

This paper aims to provide a comprehensive bibliometric study of housing prices according to the articles collected by the Web of Science (WOS).

Design/methodology/approach

This paper studies 4,125 research papers on housing prices in the core collection database of WOS. Using VOSviewer, this paper makes a bibliometric and visual analysis of the housing prices research from 1960 to 2020 and probes into the housing prices research from five aspects: time, international cooperation, institutions author cooperation and research focuses.

Findings

Keywords such as influencing factors of housing prices, analysis of supply and demand, policy and housing prices and regional cities appear frequently, which indicates the main direction of housing price research literature. Recent common keywords include regression analysis and house price forecast. Countries, like the USA started early in the study of housing prices, and the means and methods in the field of housing price research are mature, leading the forefront of housing price research. Compared with the USA and other Western developed countries, the housing price research in developing countries needs to use innovative research methods and put more effort on sustainability. Research shows that housing price is closely related to economy, and keyword cluster analysis shows that gross domestic product, interest rate, currency and other keywords related to economy are of high-frequency.

Research limitations/implications

This paper only uses articles from one database (WOS), which does not represent all research papers published worldwide. Some studies have been published for a long time, and the reference value to the research focuses and future research might be limited. There are many kinds of journals included in the study with different publishing frequencies, time ranges and numbers of papers. These may have some influence on the research results.

Originality/value

The main theoretical contribution of this paper is to supplement the current academic research on housing prices. This paper reveals the key points of housing prices research and possible research problems that need attention. We can know from the future research direction and practice which can offer insights for future innovative direction.

Details

International Journal of Housing Markets and Analysis, vol. 17 no. 2
Type: Research Article
ISSN: 1753-8270

Keywords

Article
Publication date: 31 October 2022

Seyedeh Mehrangar Hosseini, Behnaz Bahadori and Shahram Charkhan

The purpose of this study is to identify the situation of spatial inequality in the residential system of Tehran city in terms of housing prices in the year 2021 and to examine…

Abstract

Purpose

The purpose of this study is to identify the situation of spatial inequality in the residential system of Tehran city in terms of housing prices in the year 2021 and to examine its changes over time (1991–2021).

Design/methodology/approach

In terms of purpose, this study is applied research and has used a descriptive-analytical method. The statistical population of this research is the residential units in Tehran city 2021. The average per square meter of a residential unit in the level of city neighborhoods was entered in the geographical information system (GIS) in 2021. Moran’s spatial autocorrelation method, map cluster analysis (hot and cold spots) and Kriging interpolation have been used for spatial analysis of points. Then, the change in spatial inequality in the residential system of Tehran city has been studied and measured based on the price per square meter of a residential unit for 30 years in the 22 districts of Tehran by using statistical clustering based on distance with standard deviation.

Findings

The result of spatial autocorrelation analysis with a score of 0.873872 and a p-value equal to 0.000000 indicates a cluster distribution of housing prices throughout the city. The results of hot spots show that the highest concentration of hot spots (the highest price) is in the northern part of the city, and the highest concentration of cold spots (the lowest price) is in the southern part of Tehran city. Calculating the area and estimating the quantitative values of data-free points by the use of the Kriging interpolation method indicates that 9.95% of Tehran’s area has a price of less than US$800, 17.68% of it has a price of US$800 to US$1,200, 25.40% has the price of US$1,200 to US$1,600, 17.61% has the price of US$1,600 to US$2,000, 9.54% has the price of US$2,000 to US$2,200, 6.69% has the price of US$2,200 to US$2,600, 5.38% has the price of US$2,600 to US$2,800, 4.59% has the price of US$2,800 to US$3,200 and finally, the 3.16% has a price more than US$3,200. The highest price concentration (above US$3,200) is in five neighborhoods (Zafaranieh, Mahmoudieh, Tajrish, Bagh-Ferdows and Hesar Bou-Ali). The findings from the study of changes in housing prices in the period (1991–2021) indicate that the southern part of Tehran has grown slightly compared to the average range, and the western part of Tehran, which includes the 21st and 22nd regions with much more growth than the average price.

Originality/value

There is massive inequality in housing prices in different areas and neighborhoods of Tehran city in 2021. In the period under study, spatial inequality in the residential system of Tehran intensified. The considerable increase in housing prices in the housing market of Tehran has made this sector a commodity, intensifying the inequality between owners and non-owners. This increase in housing price inequality has caused an increase in the informal living for the population of the southern part. This population is experiencing a living situation that contrasts with the urban plans and policies.

Details

International Journal of Housing Markets and Analysis, vol. 17 no. 2
Type: Research Article
ISSN: 1753-8270

Keywords

Article
Publication date: 26 September 2023

Hazel Easthope, Laura Crommelin, Charles Gillon, Simon Pinnegar, Kristian Ruming and Sha Liu

High-density development requires large land parcels, but fragmented land ownership can impede redevelopment. While earlier compact city development in Sydney occurred on…

Abstract

Purpose

High-density development requires large land parcels, but fragmented land ownership can impede redevelopment. While earlier compact city development in Sydney occurred on large-scale brownfield sites, redeveloping and re-amalgamating older strata-titled properties is now integral to further densification. The purpose of this study is to examine collective sales activity in one Sydney suburb where multiple strata-titled redevelopments and re-amalgamations have been attempted. The authors explore how owners navigate the process of selling collectively, focusing on their experience of legislation introduced to facilitate this process, the Strata Schemes Development Act 2015 [New South Wales (NSW)].

Design/methodology/approach

By reviewing sales listings, development applications and media coverage, and interviewing owners, lawyers and estate agents, the authors map out collective sale activity in a case study area in Sydney’s northwest.

Findings

Strata collective sales are slow and difficult to complete, even when planning and market drivers align. Owners find the Strata Scheme Development Act 2015 (NSW) difficult to navigate and it has not prevented strategic blocking attempts by competing developers. The long timelines required to organise collective sales can result in failure if the market shifts in the interim. Nonetheless, owners remain interested in selling collectively.

Originality/value

This case study is important for understanding the barriers to redevelopment to achieve a more compact city. It highlights lessons for other jurisdictions considering similar legislative changes. It also suggests that legislative change alone is insufficient to resolve the planning challenges created by hyper-fragmentation of land through strata-title development.

Details

Journal of Property, Planning and Environmental Law, vol. 16 no. 1
Type: Research Article
ISSN: 2514-9407

Keywords

Article
Publication date: 15 April 2024

Seyed Abbas Rajaei, Afshin Mottaghi, Hussein Elhaei Sahar and Behnaz Bahadori

This study aims to investigate the spatial distribution of housing prices and identify the affecting factors (independent variable) on the cost of residential units (dependent…

Abstract

Purpose

This study aims to investigate the spatial distribution of housing prices and identify the affecting factors (independent variable) on the cost of residential units (dependent variable).

Design/methodology/approach

The method of the present study is descriptive-analytical and has an applied purpose. The used statistical population in this study is the residential units’ price in Tehran in 2021. For this purpose, the average per square meter of residential units in the city neighborhoods was entered in the geographical information system. Two techniques of ordinary least squares regression and geographically weighted regression have been used to analyze housing prices and modeling. Then, the results of the ordinary least squares regression and geographically weighted regression models were compared by using the housing price interpolation map predicted in each model and the accurate housing price interpolation map.

Findings

Based on the results, the ordinary least squares regression model has poorly modeled housing prices in the study area. The results of the geographically weighted regression model show that the variables (access rate to sports fields, distance from gas station and water station) have a direct and significant effect. Still, the variable (distance from fault) has a non-significant impact on increasing housing prices at a city level. In addition, to identify the affecting variables of housing prices, the results confirm the desirability of the geographically weighted regression technique in terms of accuracy compared to the ordinary least squares regression technique in explaining housing prices. The results of this study indicate that the housing prices in Tehran are affected by the access level to urban services and facilities.

Originality/value

Identifying factors affecting housing prices helps create sustainable housing in Tehran. Building sustainable housing represents spending less energy during the construction process together with the utilization phase, which ultimately provides housing at an acceptable price for all income deciles. In housing construction, the more you consider the sustainable housing principles, the more sustainable housing you provide and you take a step toward sustainable development. Therefore, sustainable housing is an important planning factor for local authorities and developers. As a result, it is necessary to institutionalize an integrated vision based on the concepts of sustainable development in the field of housing in the Tehran metropolis.

Details

International Journal of Housing Markets and Analysis, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1753-8270

Keywords

Article
Publication date: 15 May 2023

Lin Jia, Ying Zhang and Chen Lin

Social interaction in comment sections has become a key factor for backers' decision making in crowdfunding platforms. However, current research on the two-way social interaction…

Abstract

Purpose

Social interaction in comment sections has become a key factor for backers' decision making in crowdfunding platforms. However, current research on the two-way social interaction in crowdfunding is insufficient, and there exist inconsistent conclusions. This study focuses on the social interaction between creators and backers and explores its influence on the successful exit of crowdfunding projects.

Design/methodology/approach

The extended Cox model is used for the empirical analysis of 1,988 crowdfunding projects on the Modian (www.modian.com) platform, a crowdfunding platform for cultural and creative projects in China. The two-way social interaction is reflected in comment quantity and sentiment, as well as reply rate.

Findings

Results reveal an inverted U-shaped relationship between comment quantity/sentiment and the successful exit of crowdfunding projects. This relationship is strengthened by high reply rate.

Originality/value

This study focuses on comment quantity and sentiment. The inverted U-shaped results reconcile previous conclusions. Replies from creators are regarded as a separate factor, and their moderating role is explained. The study research proves the importance of social interaction in crowdfunding platforms and provides suggestions for backers, creators and platform managers.

Details

Information Technology & People, vol. 37 no. 4
Type: Research Article
ISSN: 0959-3845

Keywords

Article
Publication date: 6 May 2024

Shujing Li, Xiaojuan Huang, Zhiheng He, Yongxiang Liu, Hui Qu and Jing Wu

The purpose of this paper is to introduce a double-stator switched reluctance machine (DS-SRM) for electric vehicles (EVs) and to propose multi-mode operations for this machine.

Abstract

Purpose

The purpose of this paper is to introduce a double-stator switched reluctance machine (DS-SRM) for electric vehicles (EVs) and to propose multi-mode operations for this machine.

Design/methodology/approach

Analysis of flux linkage distributions and torque characteristics using finite element method (FEM). Building a dynamic simulation model based on electromagnetic characteristics, mathematical equations and mechanical motion equations of the DS-SRM drive system. The paper proposes multi-mode operations (inner-stator excitation mode, outer-stator excitation mode and double-stator excitation mode) based on motor working regions. It also conducts simulation and experimental results to verify the effectiveness of the proposed multi-mode operations strategies and control schemes.

Findings

There is almost no electromagnetic coupling between the inner and outer stators due to the specially designed rotor structure and optimized windings polarity configuration. Analysis of flux linkage distributions and torque characteristics verified the independence of inner and outer stators. Proposal of multi-mode operations and corresponding control rules achieved the smooth switching between different modes.

Originality/value

The paper introduced the DS-SRM for EVs and proposed multi-mode operations, along with control rules, to optimize its performance. The specially designed rotor structure, optimized winding polarity configuration, and the proposed multi-mode operations contribute to the originality of the research.

Details

COMPEL - The international journal for computation and mathematics in electrical and electronic engineering , vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0332-1649

Keywords

Article
Publication date: 19 December 2022

Hui Zhao, Yuanyuan Ge and Weihan Wang

This study aims to improve the offshore wind farm (OWF) site selection evaluation index system and establishes a decision-making model for OWF site selection. It is expected to…

Abstract

Purpose

This study aims to improve the offshore wind farm (OWF) site selection evaluation index system and establishes a decision-making model for OWF site selection. It is expected to provide helpful references for the progress of offshore wind power.

Design/methodology/approach

Firstly, this paper establishes an evaluation criteria system for OWF site selection, considering six criteria (wind resource, environment, economic, technical, social and risk) and related subcriteria. Then, the Criteria Importance Though Intercrieria Correlation (CRITIC) method is introduced to figure out the weights of evaluation indexes. In addition, the cumulative prospect theory and technique for order preference by similarity to an ideal solution (CPT-TOPSIS) method are employed to construct the OWF site selection decision-making model. Finally, taking the OWF site selection in China as an example, the effectiveness and robustness of the framework are verified by sensitivity analysis and comparative analysis.

Findings

This study establishes the OWF site selection evaluation system and constructs a decision-making model under the spherical fuzzy environment. A case of China is employed to verify the effectiveness and feasibility of the model.

Originality/value

In this paper, a new decision-making model is proposed for the first time, considering the ambiguity and uncertainty of information and the risk attitudes of decision-makers (DMs) in the decision-making process.

Details

Kybernetes, vol. 53 no. 3
Type: Research Article
ISSN: 0368-492X

Keywords

1 – 10 of 358