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Book part
Publication date: 8 April 2024

Daniel Pakši and Aleš Melecký

In this chapter, we aim to analyze the housing market development in Czechia, in particular the development of housing prices over the last 25 years. We quantify and discuss three…

Abstract

In this chapter, we aim to analyze the housing market development in Czechia, in particular the development of housing prices over the last 25 years. We quantify and discuss three distinct periods of excessive growth of regional Czech housing prices, identified through the formation of large positive GAPs – (1) before the entrance of Czechia to the European Union (EU), (2) at the onset of the Global Financial Crisis GFC, (3) in 2021. In all these periods, we identify significant differences among regions. We find that GAPs above 15% may be considered an indication of unsustainable long-term housing price growth that will be followed by a correction.

We then employ fixed effect panel data model to determine the drivers of flat and house prices in 14 Czech regions. Our results show that wage growth, migration and crime rate are significant factors affecting the prices of both flats and houses. Nevertheless, the impact of GDP per capita and job market indicators differs between flats and houses. Moreover, we find that higher migration into the region increases the difference between the prices of houses and flats, while increasing GDP per capita growth and crime rate mitigate this difference significantly.

Details

Modeling Economic Growth in Contemporary Czechia
Type: Book
ISBN: 978-1-83753-841-6

Keywords

Book part
Publication date: 29 January 2021

Michael K. Fung and Arnold C. S. Cheng

If the only difference between cities lies in their initial housing prices, the initially lower-price cities should eventually catch up with the initially higher-price ones, i.e.…

Abstract

If the only difference between cities lies in their initial housing prices, the initially lower-price cities should eventually catch up with the initially higher-price ones, i.e., “absolute convergence.” Alternatively, if the major determinants of housing prices are city-specific, cities will converge to parallel growth paths of housing prices, i.e., “conditional convergence.” This study tests for the existence of absolute and conditional convergence in house prices among cities in China. The strong evidence for conditional convergence suggests that each city possesses its own steady-state housing price to which it is converging, which depends on the city's own socio-economic characteristics. In other words, differences in these socio-economic characteristics among cities can create permanent differences in housing price among them. The differences in steady-states house price across cities reflect differences in the level of socio-economic development among them. The findings inform the kinds of interventions and resources that are most likely to be effective in reducing income disparity.

Details

Modeling Economic Growth in Contemporary Hong Kong
Type: Book
ISBN: 978-1-83909-937-3

Keywords

Book part
Publication date: 14 December 2023

George Okechukwu Onatu, Wellington Didibhuku Thwala and Clinton Ohis Aigbavboa

The twenty-first century is noted globally as the urban century because more than half of the world's population lives in cities. This population is projected to increase to 70…

Abstract

The twenty-first century is noted globally as the urban century because more than half of the world's population lives in cities. This population is projected to increase to 70% by 2050. South Africa is no exception to this phenomenal increase in urban population. More than 60% of South African population lives in urban areas, and this figure is projected to increase to 71.3% and 80% by 2030 and 2050, respectively. Access to human settlement by this teaming population remains a challenge. The problem of access to human settlement is compounded by historical apartheid's spatial geography characterized by racial segregation, fragmentation of urban space and separate development. During the apartheid period, settlement patterns were designed and planned in accordance with racial differentiation. This resulted in fragmented, segregated and dysfunctional residential settlements pattern that forced many people to travel long distances between place of work and home. Since 1994, the various housing policies, programmes and legislations have not been able to find solution to the spatial challenges that South Africa faces. The objective of this book is to investigate and unravel mixed-income housing development planning strategy and how this housing typology with a new framework can bring about spatial integration, inclusive cities, improved access to services and the promotion of social cohesion and economic inclusion. This book utilized the case study research design and employed the Delphi method for the investigation. The findings reveal that proper coordination across all sectors of government and good working relationship between the private and public sectors will increase the sustainability of mixed-income housing development. This study also supports existing theory that mixed-income housing might not be able to bring about the overall social integration, and solve all housing problems but has the unique tendency and potential in the South African case to address spatial imbalances by increasing the affordability of low-cost housing. This book concludes that there is need for both inter-sectoral and intergovernmental collaboration as well as proper coordination/adequate urban planning policies to address the increasing human settlement challenges in South Africa and for effective implementation of mixed-income housing development.

Details

Mixed-Income Housing Development Planning Strategies and Frameworks in the Global South
Type: Book
ISBN: 978-1-83753-814-0

Book part
Publication date: 27 February 2009

T.J. O’Neill, J. Penm and R.D. Terrell

Housing activity is an important indicator of general economic activity, and house price movements are an important variable in international financial markets. In this chapter we…

Abstract

Housing activity is an important indicator of general economic activity, and house price movements are an important variable in international financial markets. In this chapter we utilise vector autoregressive models to examine how the interrelationship between housing activity and general economic activity has evolved in four OECD countries. Our results provide support for the hypothesis that the relationship between housing activity and general economic activity has changed in many OECD countries. For Australia, however, no such evidence was found. These results suggest that caution needs to be exercised when using previous experience to forecast both housing cycles and general economic activity.

Details

Research in Finance
Type: Book
ISBN: 978-1-84855-447-4

Book part
Publication date: 29 January 2021

Michael K. Fung and Arnold C. S. Cheng

Using a sample of developed and developing nations (including China and Hong Kong), this study examines the financial market and housing wealth effects on consumption. Housing…

Abstract

Using a sample of developed and developing nations (including China and Hong Kong), this study examines the financial market and housing wealth effects on consumption. Housing performs the dual functions as both a commodity providing a flow of housing services and an investment providing a flow of capital income. With an empirical framework based on the permanent income hypothesis, this study's findings suggest that a rise in housing price has both a positive wealth effect and a negative price effect on consumption. While the positive wealth effect is caused by an increase in capital income from housing investment, the negative price effect is caused by an increase in the cost of consuming housing services. Moreover, the sensitivity of consumption to unanticipated changes in housing price is related to the level of financial and institutional development.

Details

Modeling Economic Growth in Contemporary Hong Kong
Type: Book
ISBN: 978-1-83909-937-3

Keywords

Book part
Publication date: 13 October 2008

Paul J. Maginn, Susan Thompson and Matthew Tonts

This chapter, together with those that follow, builds upon the ideas presented in the previous volume in this series (Maginn, Thompson, & Tonts, 2008). There we outlined our…

Abstract

This chapter, together with those that follow, builds upon the ideas presented in the previous volume in this series (Maginn, Thompson, & Tonts, 2008). There we outlined our vision for a ‘pragmatic renaissance’ in contemporary qualitative research in urban studies. We argued that to survive as an effective and frequently used tool for policy development, a more systematic approach is needed in the way that qualitative-informed applied urban research is conceptualised and undertaken. In opening this volume we build on these initial ideas using housing as a meta-case study to progress the case for a systematic approach to qualitative research methods. We do this to both stimulate broad debate about the ways, in which qualitative research in urban/housing scholarship might be of greater use to policymakers and practitioners, as well as to suggest a way forward in realising the ‘pragmatic renaissance’.

Details

Qualitative Housing Analysis: An International Perspective
Type: Book
ISBN: 978-1-84663-990-6

Book part
Publication date: 26 January 2012

Miwa Abe, Rajib Shaw and Yukiko Takeuchi

In 2004, the United Nations Environment Programme (UNEP) in Bangkok, Thailand, and UN-HABITAT collaborated on an eco-housing project in the Asian region (UNEP, 2010). The aim was…

Abstract

In 2004, the United Nations Environment Programme (UNEP) in Bangkok, Thailand, and UN-HABITAT collaborated on an eco-housing project in the Asian region (UNEP, 2010). The aim was to promote eco-housing as a key disaster preventive measure in the Asia-Pacific region. Eco-housing is an evolving concept that applies sustainability principles into the entire lifecycle of a housing project: from design, through construction and maintenance to the “end of life” activities. The concept applies environmentally friendly and sustainable approaches to the design, site assessment, material selection, energy management, water management, and waste management to the household and community level. The project addressed four key areas: (1) knowledge building, (2) educational initiative, (3) networking, and (4) implementation. The eco-housing project involved countries such as Australia, China, India, Indonesia, Thailand, and Sri Lanka. It was implemented in the 2004 tsunami-affected areas in Banda Aceh and Calang, Indonesia. As part of the tsunami recovery projects, an “eco-village” was established in Lagoswatta, located in the Kalutara district near Colombo in Sri Lanka. It was supported by Sarvodaya, one of the local NGOs. UNEP and UN-HABITAT initiated the eco-housing project in 2004 to build capacity and to increase awareness on this issue. A Regional Expert Group on eco-housing was established to provide technical input and train national architects on this concept. This study was focused on the eco-village project in disaster recovery from the Indian Ocean Tsunami in 2004. In particular, it focused on the case study in Sri Lanka: “The project has implemented passive cooling techniques, solar panels on houses, segregation of waste, composting of bio-degradable waste, recycling of inorganic waste, sub-terra system for recycling waste water, and roof top water harvesting. Site layout and landscaping has been done to minimize disturbances to site, provide shading and improve indoor ventilation” (UNEP, 2010).

Details

Environment Disaster Linkages
Type: Book
ISBN: 978-0-85724-866-4

Book part
Publication date: 10 November 2011

Mark Clapson

The marginalisation of council housing in Britain since the Housing Act of 1980 threatens to obscure some of the very valuable lessons to be learned from almost a century of mass…

Abstract

The marginalisation of council housing in Britain since the Housing Act of 1980 threatens to obscure some of the very valuable lessons to be learned from almost a century of mass public housing provision. This chapter demonstrates that despite considerable economic problems, and in the face of social change since 1980, a relatively poor council estate remained a site of social capital, and that women were particularly prominent in working with local agencies to solve problems.

Details

Everyday Life in the Segmented City
Type: Book
ISBN: 978-1-78052-259-3

Keywords

Book part
Publication date: 7 August 2017

Agnès Deboulet and Simone Abram

This chapter compares programmes for urban housing regeneration in France and England, showing how ideological similarities reflected in policy ideas and programmes played out…

Abstract

Purpose

This chapter compares programmes for urban housing regeneration in France and England, showing how ideological similarities reflected in policy ideas and programmes played out differently in significantly different contexts.

Methodology/approach

The chapter draws on results of several major research programmes, including in-depth extensive fieldwork in a number of cities and regions in France and England. Field research included participant observation in participatory planning events, interviews, home visits, guided walks in the districts, etc. These enabled a multi-site and multi-perspective understanding of urban housing renewal at different sites.

Findings

In both contexts, early promises for participation in housing renewal gave way to an imperative for demolition, justified on purely technical grounds that were not shared with participants. The linking of social mix and demolition for local ‘improvement’ also then appeared to be a contradiction between different policies that few residents could endorse, other than selected beneficiaries. Participation, social mix and demolition thus formed an unholy trinity in urban renewal policies.

Social implications

Housing renewal requires much greater commitment to the experience of residents, to avoid exacerbating social problems rather than relieving them.

Originality/value

The chapter reflects on a wealth of in-depth research over more than a decade to consider the broader implications and outcomes of housing renewal programmes in two countries. It highlights the different balances of power in the two cases and the trajectories of respective urban social politics, including the overlaps between policy objectives and similarities in the government of housing renewal. It also highlights the determination and commitment among residents to the value of housing that is judged from the outside to be ‘poor’.

Details

Social Housing and Urban Renewal
Type: Book
ISBN: 978-1-78714-124-7

Keywords

Abstract

Details

A Neoliberal Framework for Urban Housing Development in the Global South
Type: Book
ISBN: 978-1-83797-034-6

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