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1 – 10 of over 1000Mats Wilhelmsson and Abukar Warsame
The primary aim of this research is to examine the effects of the Renovation, Conversion, and Extension (ROT) tax deduction for renovations on the scope and quality of renovations…
Abstract
Purpose
The primary aim of this research is to examine the effects of the Renovation, Conversion, and Extension (ROT) tax deduction for renovations on the scope and quality of renovations and its subsequent impact on house prices across various Swedish municipalities.
Design/methodology/approach
This study utilises a two-way fixed effect instrument variable (IV) spatial Manski approach, analysing balanced panel data from 2004 to 2020 at the municipal level (290 municipalities) in Sweden. The methodology is designed to assess the impact of the ROT subsidy on the housing market.
Findings
The study reveals that the ROT subsidy has significantly influenced house prices, with noticeable variations between municipalities. These differences are attributed to the varying amounts of tax reductions for renovations and the extent to which property owners utilise these subsidies.
Research limitations/implications
The research is limited to the context of Sweden and may not be generalisable to other countries with different housing and subsidy policies. The findings are crucial for understanding the specific impacts of government subsidies on the housing market within this context.
Practical implications
For policymakers and stakeholders in the housing market, this study highlights the tangible effects of renovation subsidies on property values. It provides insights into how such financial incentives can shape the housing market dynamics.
Social implications
The research underscores the role of government policies in potentially influencing equitable access to housing. It suggests that subsidies like ROT can have broader social implications, including the distribution of housing benefits among different income groups and regions.
Originality/value
This study contributes original insights into the field of applied real estate economics by quantitatively analysing the impact of a specific government subsidy on the housing market. It offers a unique perspective on how fiscal policies can affect property values and renovation activities at the municipal level in Sweden.
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In developing countries, including achieving Kingdom of Saudi Arabia’s (KSA) Vision 2030, housing loans for low-income employees are challenging and may thwart housing-related…
Abstract
Purpose
In developing countries, including achieving Kingdom of Saudi Arabia’s (KSA) Vision 2030, housing loans for low-income employees are challenging and may thwart housing-related sustainable development goals (SDGs). Studies investigating housing finance inaccessibility for KSA Vision 2030 low-income earners and its impact on achieving housing-related SDGs are scarce. Hence, this study aims to investigate KSA housing financial inaccessibility and its effect on housing-related SDGs. Also, it offered suggestions for achieving housing provision in Vision 2030 and, by extension, improving housing-related SDGs.
Design/methodology/approach
The study adopted a virtual interview approach and covered Alqassim, Riyadh and Medina. The researcher engaged 24 participants who were knowledgeable about KSA’s housing finance and SDGs. They include selected low-income earners, academicians, financial operators and government ministries/departments/agencies. The study manually analysed the collated data through a thematic approach and presented the main themes.
Findings
Findings reveal that KSA’s low-income earners’ housing finance inaccessibility threatens Vision 2030 and housing-related SDGs. Inadequate funding of the Real Estate Development Fund, inability to make down payment, absence of collateral, insufficient household income and failure to recover the loan and associated charges from the auction were perceived major issues contributing to low-income earners’ house-loan rejection and recommended measures to improve achieving housing-related SDGs.
Originality/value
The study investigated the factors contributing to low-income earners’ housing loan rejection and its impact on achieving KSA’s Vision 2030 and housing-related SDGs from the participants’ perspective. The findings reveal that low-income earners’ housing finance accessibility has been compounded by the slow recovery from the post-COVID-19 pandemic.
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Aimin Wang, Sadam Hussain and Jiying Yan
The purpose of this study is to conduct a thorough empirical investigation of the intricate relationship between urban housing sales prices and land supply prices in China, with…
Abstract
Purpose
The purpose of this study is to conduct a thorough empirical investigation of the intricate relationship between urban housing sales prices and land supply prices in China, with the aim of elucidating the underlying economic principles governing this dynamic interplay.
Design/methodology/approach
Using monthly data of China, the authors use the asymmetry nonlinear autoregressive distributed lag (NARDL) model to test for nonlinearity in the relationship between land supply price and urban housing prices.
Findings
The empirical results confirm the existence of an asymmetric relationship between land supply price and urban housing prices. The authors find that land supply price has a positive and statistically significant impact on urban housing prices when land supply is increasing. Policymakers should strive to strike a balance between safeguarding residents’ housing rights and maintaining market stability.
Research limitations/implications
Although the asymmetric effect of land supply price has been identified as a significant contributor in this study, it is important to note that the research primarily relies on time series data and focuses on analysis at the national level. Although time series data offer a macroscopic perspective of overall trends within a country, they fail to adequately showcase the structural variations among different cities.
Practical implications
To ensure a stable housing market and meet residents’ housing needs, policymakers must reexamine current land policies. Solely relying on restricting land supply to control housing prices may yield counterproductive results. Instead, increasing land supply could be a more viable option. By rationally adjusting land supply prices, the government can not only mitigate excessive growth in housing prices but also foster the healthy development of the housing market.
Originality/value
First, the authors have comprehensively evaluated the impact of land supply prices in China on urban housing sales prices, examining whether they play a facilitating or mitigating role in the fluctuation of these prices. Second, departing from traditional linear analytical frameworks, the authors have explored the possibility of a nonlinear relationship existing between land supply prices and urban housing sales prices in China. Finally, using an advanced NARDL model, the authors have delved deeper into the asymmetric effects of land supply prices on urban housing sales prices in China.
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Xueqi Wang, Graham Squires and David Dyason
Homeownership for younger generations is exacerbated by the deterioration in affordability worldwide. As a result, the role of parental support in facilitating homeownership…
Abstract
Purpose
Homeownership for younger generations is exacerbated by the deterioration in affordability worldwide. As a result, the role of parental support in facilitating homeownership requires attention. This study aims to assess the influence of parental wealth and housing tenure as support mechanisms to facilitate homeownership for their children.
Design/methodology/approach
This study uses data from a representative survey of the New Zealand population.
Findings
Parents who are homeowners tend to offer more financial support to their children than those who rent. Additionally, the financial support increases when parents have investment housing as well. The results further reveal differences in financial support when considering one-child and multi-child families. The intergenerational transmission of wealth inequality appears to be more noticeable in multi-child families, where parental housing tenure plays a dominant role in determining the level of financial support provided to offspring.
Originality/value
The insights gained serve as a basis for refining housing policies to better account for these family transfers and promote equitable access to homeownership.
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Trung Ba Nguyen and Chon Van Le
This paper aims to examine the dynamic impacts of the COVID-19 pandemic and government policy on real house price indices in five emerging economies, namely, Brazil, China…
Abstract
Purpose
This paper aims to examine the dynamic impacts of the COVID-19 pandemic and government policy on real house price indices in five emerging economies, namely, Brazil, China, Thailand, Turkey and South Africa.
Design/methodology/approach
The authors use the local projection method with a panel data set of these countries spanning from January 2020 to July 2021.
Findings
The number of COVID-19 confirmed positive cases raised housing prices, whereas government containment measures reduced them. Both conventional and unconventional monetary policy implemented by central banks to cope with the COVID-19 helped increase housing prices. These effects were strengthened by the US monetary policy via globalized financial markets.
Originality/value
First, while previous researches typically concentrated on developed countries, the authors investigate emerging economies where proportionally more people were badly affected by the pandemic. Second, a panel data set of five emerging economies enabled the authors to examine the dynamic effects of the COVID-19 crisis on housing prices. Third, to the best of the authors’ knowledge, this is the first study evaluating the influences of easing monetary policy on housing prices in emerging economies during the pandemic.
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Mohamad Shaharudin Samsurijan, Radin Badaruddin Radin Firdaus, Mohd Isa Rohayati, Andrew Ebekozien and Clinton Aigbavboa
The COVID-19 impact across major sectors did not exempt the low-cost housing (LCH) sub-sector. This may have increased the existing LCH demand-supply gap, especially in developing…
Abstract
Purpose
The COVID-19 impact across major sectors did not exempt the low-cost housing (LCH) sub-sector. This may have increased the existing LCH demand-supply gap, especially in developing countries such as Malaysia. Studies showed that government policy (GP) aids in mitigating COVID-19 impact on goods and services, including housing-related issues. However, there is an academic literature scarcity regarding GP on LCH demand-supply gap during the COVID-19 crisis in Malaysia. Hence, this study aims to investigate the moderating effect of GP on the relationship between LCH demand-supply gap and COVID-19 impact in Malaysia.
Design/methodology/approach
The research utilised a quantitative method in collating the data from four major cities in Malaysia. SmartPLS was utilised to analyse the usable 305 questionnaires retrieved from respondents. Structuralist Theory supported the developed framework.
Findings
Findings show that GP moderates the relationships between the LCH demand-supply gap and COVID-19 impact on Malaysia's low-income groups' (LIGs) homeownership delivery. It implies that the study's findings provide more understanding of issues influencing LCH demand-supply gap in the COVID-19 era via applying GP to mitigate the gap and improve homeownership for the disadvantaged.
Practical implications
The study intends to stir policymakers toward formulating policies and programmes that will mitigate LCH demand-supply gap during the present and future pandemics.
Originality/value
Besides the theoretical value of the developed model, policymakers can use the study's recommendations to mitigate future LCH demand-supply gaps during pandemics in developing countries using Malaysia as a case study.
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Fatma Özdoğan, Gonzalo Lizarralde and Benjamin Herazo
In this paper, we explore the impact of land management practices on post-disaster housing, to draw lessons from the case of reconstruction in Türkiye.
Abstract
Purpose
In this paper, we explore the impact of land management practices on post-disaster housing, to draw lessons from the case of reconstruction in Türkiye.
Design/methodology/approach
We conducted two qualitative case studies of two reconstruction experiences following the 2020 Elazığ and İzmir earthquakes. We analyzed 70 articles, technical reports and press releases and then used a set of policy analysis tools to examine five policy documents in depth. Finally, we wanted to understand how key officers interpreted these policy documents, so we closely analyzed the transcripts of eight semi-structured interviews.
Findings
Türkiye’s legal framework comprises five main policies that concentrate power in the central government and are not tailored to post-disaster reconstruction. This framework facilitates the construction of rubber-stamped apartment buildings, which disregard cultural and social contexts and practices. The current reconstruction policy neglects alternative options like cooperative housing, which could better respond to communal needs and expectations. It also often leads to the loss of land rights among affected residents.
Research limitations/implications
We only analyzed decision-making processes in two case studies and based our study on a limited number of interviews. Therefore, it is difficult to generalize our results and apply them to other contexts. Further quantitative and qualitative work is necessary to conceptualize the links between land management and post-disaster housing reconstruction.
Practical implications
Our findings suggest a need for legislative frameworks specifically designed to address land management during post-disaster reconstruction. The concentration of power in central governments is problematic, thus it remains crucial to empower local authorities by reinforcing technical expertise and facilitating administrative autonomy.
Originality/value
This study offers unique insights into how power relations influence land management practices in post-disaster housing reconstruction. Examining the centralization of power and its impact on cultural and social practices identifies common forms of dispossession and points to key areas for policy improvement.
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Zafirah Al Sadat Zyed, Izma Syazana Badrudin and Peter Aning Tedong
This paper aims to discuss the issues and challenges related to housing continuity for individuals transitioning from homelessness to securing a place to live in Klang Valley…
Abstract
Purpose
This paper aims to discuss the issues and challenges related to housing continuity for individuals transitioning from homelessness to securing a place to live in Klang Valley, Malaysia. The aim of the study is to explore the problems and solutions in the context of housing policy, particularly as they pertain to homeless households. The study involves conducting in-depth interviews with various stakeholders involved in helping homeless households find shelter and access to public housing.
Design/methodology/approach
The research methodology comprises a comprehensive literature review encompassing housing affordability, affordable housing and homelessness both within Malaysia and globally to identify research gaps. One of the key questions highlighted the effectiveness of existing programs aimed at providing short-term shelter and social integration for homeless individuals. Additionally, it highlights one of the primary challenges in this process, which is the tendency of homeless individuals to return to homelessness due to various factors. The data collection uses a qualitative approach and the data are obtained through in-depth interviews with key stakeholders responsible for assisting homeless households in Klang Valley, Malaysia, encompassing federal, state and local government representatives. Purposive sampling ensures diverse stakeholder representation. Interviews are structured semi-structured to maintain consistency while allowing for open-ended discussions on challenges and successes in facilitating homeless individuals' transition to stable housing. Thematic analysis of transcribed interview data focuses on recurring themes related to housing continuity, affordability and homeless households' behavioural patterns.
Findings
There are five (n = 5) stakeholders consist of local government (Code: R1), ministries (Code: R2; R5) and government agencies (Code: R3; R4). The study revealed that various programs have been implemented to provide short-term shelter and facilitate the integration of homeless individuals into society. Nevertheless, a significant challenge identified was the recurring tendency of homeless households to return to homelessness. This “behavioural direction” was found to be influenced by multiple factors which includes mental health and attitude problem. The findings emphasise the need for collaborative efforts among all stakeholders to address the issues and challenges related to housing continuity in Klang Valley.
Originality/value
The originality of this research lies in its focus on the specific and under-researched context of Klang Valley, Malaysia, regarding the critical issues of housing affordability and the challenges of housing continuity for homeless households. While housing affordability and affordable housing are widely recognised as global housing policy concerns, this study delves into a localised setting where limited attention has been given to understanding the transitions of homeless individuals to stable housing. The findings provide unique insights into the efforts and challenges faced in Klang Valley, shedding light on the behavioural patterns and factors contributing to recurring homelessness. This paper offers a context-specific perspective that contributes to the broader understanding of housing continuity issues.
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Mahazril ‘Aini Yaaco, Hafizah Hammad Ahmad Khan and Nurul Hidayana Mohd Noor
This study aims to investigate the impact of housing knowledge, housing challenges and housing policy on the renting intention and satisfaction of young people.
Abstract
Purpose
This study aims to investigate the impact of housing knowledge, housing challenges and housing policy on the renting intention and satisfaction of young people.
Design/methodology/approach
A questionnaire survey helped collect data from young people in the study area, which were then analysed using the Statistical Package for the Social Sciences (SPSS) 27 software. A descriptive analysis and the Cronbach’s alpha test were adopted to analyse the data. The confirmatory factor analysis confirmed a significant relationship between housing knowledge, housing challenges and housing policy and renting intention and satisfaction.
Findings
The overall findings revealed that most young people intend to own a home one day, and a minority of them decided to continue renting. The findings suggest that there is a significant relationship between housing knowledge and housing intention. However, housing challenges and housing policies do not appear to impact renting intentions. On the other hand, housing knowledge and housing challenges were found to be associated with housing satisfaction, while housing policy does not show a significant relationship.
Research limitations/implications
This study, however, poses limitations as it uses a limited model and location and involves only a cross-sectional study. Future studies can use the methodology used in this study to conduct further investigations on housing intention and satisfaction in other regions of the country, thereby validating the findings of this study.
Practical implications
In terms of practical implications, this study has made a valuable contribution to the field of housing literature by shedding light on two crucial elements, namely, housing intention and satisfaction, which have been understudied. Understanding the determinants of housing intention and satisfaction is vital in efforts to implement appropriate policy reforms.
Social implications
Findings from this study offer valuable insight related to managerial and practical implications, with the former implicating a need to prioritise initiatives that enhance renters’ housing knowledge. Implementing educational programmes and providing accessible resources can empower renters with a better understanding of the rental process and other important housing information.
Originality/value
This paper is relevant because it provides a guideline for policymakers to initiate regulations concerning housing and implement appropriate policy reforms. This study can also help housing providers develop more affordable housing that meets the needs of young people currently renting because most have expressed their housing intentions. Understanding housing intention and satisfaction determinants is vital to implementing appropriate policy reforms.
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Xin Jin, Geoffrey Shen, Lizi Luo and Xin Zhou
Modular integrated construction (MiC) is an innovative and effective manufacturing-based method of construction that has become the mainstream development direction of projects in…
Abstract
Purpose
Modular integrated construction (MiC) is an innovative and effective manufacturing-based method of construction that has become the mainstream development direction of projects in Hong Kong (HK). However, large-scale promotion of MiC practice still needs efforts. A pressing concern is that the impact of relevant policies on stakeholders during project implementation is rarely explored in depth. Therefore, to fill the research gap, this study aims to investigate the influence of policies on stakeholders to drive the successful implementation of MiC in HK.
Design/methodology/approach
This study uses a strategy of multiple methods. First, a comprehensively literature review and survey were adopted to identify critical policies and stakeholders. Second, semi-structured interviews with 28 experts were conducted to quantify their relationships. Third, three policy–stakeholder networks at initiation, planning and design and construction stages were established using social network analysis.
Findings
Environmental protection policy, COVID-19 pandemic policy and environmental protection policy and quality acceptance standard for project completion are found to be the most important policies of the three stages, respectively. The HK government and developers are highlighted as prominent stakeholders influencing policy implementation at all three stages. The dynamics of the influence stakeholders receive from critical policies at different stages of MiC are discussed. Valuable recommendations are accordingly proposed to enhance the successful implementation of MiC projects from the perspective of various stakeholders.
Originality/value
This study contributes to the body of knowledge by considering the mediating influence of stakeholders during policy implementation in the MiC uptake, and is valuable in helping policymakers to deeply understand the influence of policies to further forward successful MiC implementation and practicality in HK.
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