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Article
Publication date: 28 May 2020

Jan Veuger

A first exploration of the impact of blockchain on real estate in the Netherlands took place in 2017. In the follow-up, several blockchain and real estate studies have appeared…

Abstract

Purpose

A first exploration of the impact of blockchain on real estate in the Netherlands took place in 2017. In the follow-up, several blockchain and real estate studies have appeared with research on real estate and blockchain worldwide. In view of the previous research, the question remained as to what is now happening worldwide in the field of blockchain and real estate. This has resulted in the start-up of the Foundation for International Blockchain and Real Estate Expertise (FIBREE) network. This network has led to the launch of two investigations: Industry Report Blockchain Real Estate 2019 on exploration of international products and a database exploring blockchain and real estate on exploring (inter)national research. This paper aims to provides an overview and analysis of all relevant scientific publications – targeted on the Netherlands – and does so within a context of a first small international exploration of international research, experts and products – in particular land registration.

Design/methodology/approach

I have asked everybody at the Regionals Chairs of FIBREE to collect data with info about which blockchain and real estate product-suppliers or initiatives do you see, which research-output on blockchain and real estate is there and who are the experts with which specific expertise? This paper provides an overview and analysis of all relevant scientific publications – targeted on the Netherlands – and does so within a context of a first small international exploration of international research, experts and products – in particular land registration.

Findings

This paper provides an overview and analysis of all relevant scientific publications – targeted on the Netherlands – and does so within a context of a first small international exploration of international research, experts and products – in particular land registration.

Research limitations/implications

A question that remains is to continue to look at existing markets or too disruptive innovation newcomers in the blockchain market. The question is whether blockchain is only a technological disruption or a real game changer and whether the entire value chain of the market is going to embrace this. Confidence in blockchain is therefore a precondition for guiding that disruption where (new) companies use new technology to offer cheaper and superior alternatives in the market. But the big question is how quickly blockchain will develop as well as all its applications.

Practical/social implications

A question that remains is to continue to look at existing markets or too disruptive innovation newcomers in the blockchain market. The question is whether blockchain is only a technological disruption or a real game changer and whether the entire value chain of the market is going to embrace this. Confidence in blockchain is therefore a precondition for guiding that disruption where (new) companies use new technologies to offer cheaper and superior alternatives in the market. But the big question is how quickly blockchain will develop as well as all its applications.

Originality/value

A first exploration of the influence of blockchain on real estate in the Netherlands took place in 2017. In the follow-up, several blockchain and real estate studies appear with research about real estate and blockchain worldwide.

Details

Journal of Property, Planning and Environmental Law, vol. 12 no. 2
Type: Research Article
ISSN: 2514-9407

Keywords

Article
Publication date: 9 May 2016

Annette van den Beemt-Tjeerdsma and Jan Veuger

The purpose of this study is to see how a more developed discipline – corporate real estate management (CREM) – can add value to a less developed discipline – municipal real…

Abstract

Purpose

The purpose of this study is to see how a more developed discipline – corporate real estate management (CREM) – can add value to a less developed discipline – municipal real estate management (MREM) – to contribute to their professionalisation.

Design/methodology/approach

Every year since 2008 (except for 2013), municipalities have been asked to complete a questionnaire on how they manage their real estate. With these results, it is possible to perform quantitative analyses on both trends and the current situation. In addition, municipalities’ descriptions of their real estate management have been analysed in a qualitative way.

Findings

Municipalities are concentrating their real estate tasks in the municipal organisation to link their real estate, their policies and the citizens/tenants. Remarkable is the diversity of the functions and the broad definition of “the real estate employee” (organisational structure). Municipalities make strategic and organisational changes that aim to improve both the real estate portfolio and the municipal organisation (operations). The next years, municipalities will focus in particular on vacancy rates, organisation design, collaboration, ownership and the sustainability of the portfolio (direction).

Originality/value

Qualitative and quantitative research are combined to compare theory with practice on CREM and MREM. The results contribute to the professionalisation of Dutch municipalities.

Details

Journal of Corporate Real Estate, vol. 18 no. 2
Type: Research Article
ISSN: 1463-001X

Keywords

Article
Publication date: 5 February 2018

Jan Veuger

The real estate world finds itself at a tipping point of a transition: a dramatic and irreversible shift in (real estate) systems in society. This paper is a State of the art of…

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Abstract

Purpose

The real estate world finds itself at a tipping point of a transition: a dramatic and irreversible shift in (real estate) systems in society. This paper is a State of the art of Disruption, Blockchain and Real Estate in the Netherlands and international.

Design/methodology/approach

The following questions were asked to all those involved: What do you think is the essence of Blockchain for real estate? What is the most current situation with respect to Blockchain and real estate from your perspective? Which publications are important from your perspective? What do you expect with respect to the impact of Blockchain on real estate for (social) real estate? What are questions for the future for real estate and Blockchain? In addition, interviews, exploratory conversations and correspondence took place, and the content was peer reviewed.

Findings

Changes in value concepts affect the valuation of real estate and the thinking about it. The orientation of changing users and owners of real estate affects innovativeness, values and flexibility in managing that property. Orientation on disruption must be seen as proof that the real estate world is able to actually innovate the accumulated assets and consolidate this. The financial and real estate markets are markets that exaggerate through irrational behaviour. Fear of “eat or be eaten” determines people’s behaviour. Financial and thus real estate markets are always unstable and must always be regulated by people and organizations.

Research limitations/implications

The question that remains is whether it is important to look at disruptive innovations in existing markets or newcomers in the real estate market and Blockchain. The question is whether Blockchain is only a technological disruption, or a real game changer, and whether the entire value chain of the real estate market will embrace it. No two disruptions are the same. Trust in Blockchain is a prerequisite for guiding the predictable form of that disruption where start-up companies use new technology to offer cheaper and inferior alternatives to real estate in the market. You could also talk about anti-fragile value: “Some things benefit from shocks; they thrive and grow when exposed to volatility, randomness, disorder, and stressors and love adventure, risk, and uncertainty. Yet, in spite of the ubiquity of the phenomenon, there is no word for the exact opposite of fragile. Let us call it antifragile” (Taleb, 2012), in other words: attention to disruption and Blockchain creates a viable real estate economy.

Practical implications

The true meaning of the Blockchain technology for real estate still needs to be investigated. The author is still curious to understand and clarify the value of Blockchain for real estate processes. Doubt continues to exist and is therefore a feeding ground for further research, because we do not know what we have not seen.

Social implications

Looking at the impact of Blockchain on real estate, a number of conclusions can be drawn. First of all, the relationship between Blockchain and real estate has not yet been proven in practice. It is expected to develop further in the form of registering transaction processes and the DNA passport of a real estate object. Secondly, completeness and transparency are the basic ingredients for trust in the system. Third, real estate wants to remain viable. For this reason, taking the offense is necessary for real estate and management to connect with social demand. Behaviour also leads to new earnings models of the social and economic spin-off of disruptive real estate. If the Dutch real estate sector embraces Blockchain and is able to realize innovations, there are opportunities for real estate entrepreneurs to exploit the disruptive character to provide those new services.

Originality/value

The way in which disruption, Blockchain and real estate will develop in the coming years are not the only obvious characteristics of a particular era but also its social impact and user behaviour. This also applies to how this real estate transition can best be tracked, guided and utilized in society at the international, national and regional level. Disruptive organizations clearly respond to the viability of the (built) environment and therefore determine competitive strength. This affects the current and future valuation of real estate.

Details

Facilities, vol. 36 no. 1/2
Type: Research Article
ISSN: 0263-2772

Keywords

Book part
Publication date: 10 July 2023

Manas Chatterji

The objective of this chapter is to discuss how different techniques in Regional Science and Peace Science and the emerging techniques in Management Science can be used in…

Abstract

The objective of this chapter is to discuss how different techniques in Regional Science and Peace Science and the emerging techniques in Management Science can be used in analysing Disaster Management and Global pandemic with special reference to developing countries. It is necessary for me to first discuss the subjects of Disaster Management, Regional Science, Peace Science and Management Science. The objective of this chapter is to emphasise that the studies of Disaster Management should be more integrated with socioeconomic and geographical factors. The greatest disaster facing the world is the possibility of war, particularly nuclear war, and the preparation of the means of destruction through military spending.

Article
Publication date: 3 August 2021

Rebecca Leshinsky

With current commercial space activities accelerating, the purpose of this paper is to contexualise enlivening the discipline of real estate law for outer space.

Abstract

Purpose

With current commercial space activities accelerating, the purpose of this paper is to contexualise enlivening the discipline of real estate law for outer space.

Design/methodology/approach

Drawing on essential topics in real estate law, contracts and insurance, this paper discusses these themes in their terrestrial and extra-terrestrial contexts.

Findings

Real estate law for the outer space environment carries many similarities to real estate law but also significant differences. At this early stage in human space exploration and travel, there is a need to deal more with goods/chattels (property assets); however, this will change as land – the Moon, asteroids, planets – are made available for mining and other activities. Given outer space activities carry high risk for spacecraft and humans, there are reciprocal lessons for real estate law and practice.

Practical implications

Real estate law for outer space is an area already in existence. However, as access to space develops further, particularly with inevitable human presence on the Moon and exploration to Mars, real estate law will also grow in importance and sophistication. Real estate law for outer space relies on contract and property law. These are levers for commercial activities, and a further array of complex law and governance – the Outer Space Treaties, international and national law, international custom, guidelines, codes and standards. Real estate law for space will require an interdisciplinary and global approach in an era where human needs are already reliant on goods and services derived from space, as well as in the quest for exploration beyond the earth and the moon itself.

Originality/value

The time is ripe for space law to be taken into nuanced areas, with real estate law being an important step. Entrenched into the combined real estate and outer space disciplinary context must be consideration of the environment (earth and beyond), sustainability, heritage protection issues, etc., as well as ensuring outer space has equitable opportunities for all nations and citizens.

Details

Journal of Property, Planning and Environmental Law, vol. 13 no. 2
Type: Research Article
ISSN: 2514-9407

Keywords

Article
Publication date: 7 September 2023

Farley Ishaak, Ron van Schie, Jan de Haan and Hilde Remøy

Commercial real estate (CRE) indicators typically include asset deals and exclude share deals. This study aims to explore the phenomenon of real estate share deals and assess…

Abstract

Purpose

Commercial real estate (CRE) indicators typically include asset deals and exclude share deals. This study aims to explore the phenomenon of real estate share deals and assess whether omitting these transactions results in indicators that do not accurately reflect the market.

Design/methodology/approach

Various registers in the Netherlands were used to estimate transaction volumes, total values and price developments of both share and asset deals. Share deals are company transfers and its transactions cover more than real estate. To estimate the contribution of real estate in share deals, valuations were used.

Findings

In the Netherlands, share deals are most prominent for rental dwellings. Adding share deals to volume and value indicators seems required. In price development estimates, significant differences were found for dwellings between share and asset deals. Price indices should, therefore, also include share deals, but in practice this is difficult and has little impact on the outcomes due to the low weight of share deals.

Research limitations/implications

Legislation has a major impact on choosing a share or asset deal. The significance of share deals is expected to vary amongst countries. Performing similar research in other countries will contribute in harmonising real estate indicators.

Practical implications

Statistical agencies face many challenges in the construction of CRE indicators. This study provides statisticians knowledge that can be used to evaluate possible data gaps.

Originality/value

This is the first study to estimate indicators of real estate share deals and compare these to asset deal indicators.

Details

Journal of European Real Estate Research, vol. 16 no. 2
Type: Research Article
ISSN: 1753-9269

Keywords

Article
Publication date: 2 March 2020

Huiying (Cynthia) Hou and Hao Wu

Led by the rapid advancement of information technology in engineering, business and creative industries, the emergence of new technology such as virtual reality (VR) and its use…

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Abstract

Purpose

Led by the rapid advancement of information technology in engineering, business and creative industries, the emergence of new technology such as virtual reality (VR) and its use in education and practices are clearly observed. Although widely spread in industry practices, technology-led innovation is applied rather slowly in the tertiary real estate education. This paper examines the integrative effect of VR technology in a real estate course.

Design/methodology/approach

This study adopts a case study approach. Using an experimental course design and delivery in a business school real estate programme from Hong Kong, this paper shows the design, development and implementation of an innovative teaching model with VR being integrated. A survey was conducted to gain feedback information from participating students towards teaching innovation. It identifies the role and values of adopting VR technology in real estate education as pedagogical tool.

Findings

A new teaching model integrated with VR technology to deliver a real estate course has demonstrated its ability and potential to assist the development and enhancement of student's sense of value and place, as well as improving communicative efficiency of property investigation and the analysis of trade process. Findings from the study have implications for future global real estate industry practice and education.

Originality/value

The critical role of information technology to revolutionise the global economy and its real estate sector is apparent. Few studies have inquired about attempts and experience of integrating VR technology in real estate education towards direct link to industry practice. This paper is a major attempt to bring attention to this important concern.

Details

Property Management, vol. 38 no. 2
Type: Research Article
ISSN: 0263-7472

Keywords

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