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1 – 10 of over 1000Despite the quantity of collaborations, the vocational network of the housing production in Ankara during its first five years (1923–1928) remains dispersed. The aim of this study…
Abstract
Purpose
Despite the quantity of collaborations, the vocational network of the housing production in Ankara during its first five years (1923–1928) remains dispersed. The aim of this study is to identify all the actors of housing production and their collaborations which shaped Ankara's urban development as the new capital city.
Design/methodology/approach
The study engages with the literature and archival documents to identify the actors of the housing production, i.e. architects, master-builders, public institutions, private companies, contractors and entrepreneurs, and their resultant vocational network in the housing production in Ankara during 1923–1928.
Findings
Due to different agendas, such as speculation, financial interests or patriotism, the construction industry in Ankara had become an arena where many paths intersected, forming an intertwined vocational network. The profession of contractor became popular, and local architects, engineers and even individuals of various other professions began to work as mediators for foreign companies and public institutions, which required support especially in large-scale projects.
Originality/value
The dispersed information revealed that the actors of the housing production remained mostly anonymous, or only the famous architects were commemorated; however, others could be found within the lines of the established literature on Ankara and/or in archival documents. This research not only focuses on “salient” actors but also highlights the “silent” actors of the housing production and prepares charts to clarify the vocational network in Ankara during its first five years to contribute to the future studies on Ankara and its housing.
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The purpose of this paper is to examine the effects of financialisation on the changing structure of housing supply in Malaysia. The share of newly launched sub-MYR250,000 houses…
Abstract
Purpose
The purpose of this paper is to examine the effects of financialisation on the changing structure of housing supply in Malaysia. The share of newly launched sub-MYR250,000 houses has been decreasing continuously in the past decade. This implies that housing developers are launching more expensive houses. The greater focus on higher cost housing could be attributed to inflation. But while input cost is rising, the housing sector has also become increasingly financialised. This claim can be supported by the rising share of mortgage and real estate loans in gross domestic product. Financialisation is a process in which the financial sector becomes more dominant relative to the real sector. The extent to which this process is responsible for the changing structure of housing supply in Malaysia is investigated.
Design/methodology/approach
A survey of the literature suggested that the decreasing the proportion of newly launched sub-MYR250,000 housing could be result of rising input cost, greater degree of financialisation and changing market concentration. Thus, long-run cointegrating equations were formulated and estimated. These equations linked housing share with financialisation, market structure and input cost. The quantitative and qualitative impact of financialisation on the structure of housing supply is of interest.
Findings
The analyses of secondary data suggested that financialisation and input cost did indeed contribute to the decrease in proportion of newly launched sub-MYR250,000 housing. However, the impact of market concentration on housing share was ambiguous. This conclusion survived several robustness checks.
Practical implications
The financialisation of the housing sector implies that developers are increasingly building for profits instead of accommodating the social objective of providing shelter. This result is unsettling because access to adequate housing is a human right. The transformation of housing from the concept of a shelter to a tradable, money-making asset could be a major contributor to the declining housing affordability in the country. Thus, efforts to improve affordability must take account of the effects of financialisation.
Originality/value
An empirical framework for assessing the changes in the structure of housing supply was developed. Existing studies tended to focus only on the volume of housing supply. It is a comprehensive study on changes in the structure of housing supply. Second, while existing studies on the financialisation of housing are mostly qualitative in methodology, this paper offers a quantitative assessment of the financialisation in the housing sector.
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Sampa Chisumbe, Clinton Ohis Aigbavboa, Erastus Mwanaumo and Wellington Didibhuku Thwala
This study aims to examine the impact of some real variables such as real effective exchange rates, real mortgage rates, real money supply, real construction cost index and…
Abstract
Purpose
This study aims to examine the impact of some real variables such as real effective exchange rates, real mortgage rates, real money supply, real construction cost index and housing sales on the real housing prices.
Design/methodology/approach
This study uses a nonlinear autoregressive distributed lag (NARDL) model in the monthly period of 2010:1–2021:10.
Findings
The real effective exchange rate has a positive and symmetric effect. The decreasing effect of negative changes in real money supply on real housing prices is higher than the increasing effect of positive changes. Only positive changes in the real construction cost index have an increasing and statistically significant effect on real house prices, while only negative changes in housing sales have a small negative sign and a small increasing effect on housing prices. The fact that the positive and negative changes in real mortgage rates are negative and positive, respectively, indicates that both have a reducing effect on real housing prices.
Originality/value
This study suggests the first NARDL model that investigates the asymmetric effects on real housing prices instead of nominal housing prices for Turkey. In addition, the study is the first, to the best of the authors’ knowledge, to examine the effects of the five real variables on real housing prices.
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Sampa Chisumbe, Clinton Ohis Aigbavboa, Erastus Mwanaumo and Wellington Didibhuku Thwala
Sampa Chisumbe, Clinton Ohis Aigbavboa, Erastus Mwanaumo and Wellington Didibhuku Thwala
Sampa Chisumbe, Clinton Ohis Aigbavboa, Erastus Mwanaumo and Wellington Didibhuku Thwala
Sampa Chisumbe, Clinton Ohis Aigbavboa, Erastus Mwanaumo and Wellington Didibhuku Thwala
Trung Nguyen Dinh and Nam Pham Phuong
This paper aims to assess the overall social housing development, point out factors affecting it and propose some policy implications for social housing development.
Abstract
Purpose
This paper aims to assess the overall social housing development, point out factors affecting it and propose some policy implications for social housing development.
Design/methodology/approach
The research investigated investors, credit institutions and officials involved in social housing development. Bac Ninh province currently has 51 social housing projects that have been and are being implemented. The hypothetical regression model has seven latent variables and is tested by the criteria through the SPSS25.0 software.
Findings
There are 29 factors belonging to seven groups affecting housing development. Their impact rates range from 3.47% to 30.25%.
Research limitations/implications
The study has only identified the factors affecting social housing development but has not undertaken an in-depth assessment of its development status and forecast for the future. Therefore, this gap needs to be further studied. The proposed research method could also be applied when researching social housing developments in other countries around the world.
Practical implications
To develop social housing to meet the needs of the real estate market, it is necessary to improve the policies that have the strongest impact first. Then, it is necessary to improve the factors with a smaller impact.
Social implications
The study proposes policy implications for faster housing development for low-income people that improve their living standards.
Originality/value
To the best of the authors’ knowledge, the paper has studied for the first time social housing development and the factors affecting it. The paper also shows the level of their impact so that priority policies can be applied to each factor.
Details
Keywords
Sampa Chisumbe, Clinton Ohis Aigbavboa, Erastus Mwanaumo and Wellington Didibhuku Thwala