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1 – 10 of 791Konstantina Kamvysi, Loukas K. Tsironis and Katerina Gotzamani
In this study, the deployment of an integrated Quality Function Deployment (QFD) decision framework is presented to help cities design targeted strategies to become “smart”…
Abstract
Purpose
In this study, the deployment of an integrated Quality Function Deployment (QFD) decision framework is presented to help cities design targeted strategies to become “smart”. Arguably smart cities leverage advanced technologies to enhance their smartness to improve everyday urban life. To this end, a QFD – Analytic Hierarchy Process – Analytic Network Process (QFD-AHP-ANP) framework is proposed to deliver guidance for selecting the appropriate mix of smart technologies based on the specific smart needs of each city.
Design/methodology/approach
The AHP and ANP methods are incorporated into QFD to enhance its methodological robustness in formulating the decision problem. AHP accurately captures and translates the “Voice of the Experts” into prioritized “Smart City” dimensions, while establishing inter-relationships between these dimensions and “Smart City Technologies”. Meanwhile, ANP explores tradeoffs among the technologies, enabling well-informed decisions. The framework’s effectiveness is evaluated through an illustrative application in the city of Thessaloniki.
Findings
Applying the framework to this real-world context confirms its practicality and utility, demonstrating its ability to particularize local, social, political, environmental and economic trends through the resulting mix of technologies in smart urban development strategies.
Originality/value
The importance of this study lies in several aspects. Firstly, it introduces a novel QFD decision framework tailored for smart city strategic planning. Secondly, it contributes to the operationalization of the smart city concept by providing guidance for cities to effectively adopt smart technologies. Finally, this study represents a new field of application for QFD, expanding its scope beyond its traditional domains.
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Sunday Olarinre Oladokun and Manya Mainza Mooya
Challenges of property data in developing markets have been reported by several authors. However, a deep understanding of the actual nature of this phenomenon in developing…
Abstract
Purpose
Challenges of property data in developing markets have been reported by several authors. However, a deep understanding of the actual nature of this phenomenon in developing markets is largely lacking as in-depth studies into the actual nature of data challenge in such markets are scarce in literature. Specifically, the available literature lacks clarity about the actual nature of data challenges that developing markets pose to valuers and how this affects valuation practice. This study provides this understanding with focus on the Lagos property market.
Design/methodology/approach
This study utilises a qualitative research approach. A total of 24 valuers were selected using snowballing sampling technique, and in-depth semi-structured interviews were conducted. Data collected were analysed using thematic analysis with the aid of NVivo 12 software.
Findings
The study finds that the main data-related challenge in the Lagos property market is the lack of database of market property transactions and not the lack or absence of transaction data as it has been emphasised in previous studies. Other data-related challenges identified include weak property rights institution with attendant transaction costs, underhand dealings among professionals, undocumented charges, undisclosed information, scarcity of data relating to specialised assets and limited access to the subject property and required documents during valuation. Also, the study unbundles the factors responsible for these challenges and how they affect valuation practice.
Practical implications
The study has implication for practice in the sense that the deeper knowledge of data challenges could provide insight into strategy to tackle the challenges.
Originality/value
This study contributes to the body of knowledge by offering a fresh and in-depth perspective to the issue of data challenges in developing markets and how the peculiar nature of the real estate market affects the nature of data challenges. The qualitative approach adopted in this study allowed for a deep enquiry into the phenomenon and resulted into an extended insight into the peculiar nature of data challenges in a typical developing property market.
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Embial Asmamaw Aschale and Habtamu Bishaw Asres
The purpose of this paper is to examine expropriation, valuation, compensation and rehabilitation practices and their impacts on expropriated households.
Abstract
Purpose
The purpose of this paper is to examine expropriation, valuation, compensation and rehabilitation practices and their impacts on expropriated households.
Design/methodology/approach
This study employed a mixed research approach. The target populations of the study were expropriated households in Debre Markos City from 2019 to 2022. The study uses purposive and systematic random sampling techniques. The data were analyzed using descriptive statistics, narration and thematic clustering.
Findings
The findings of this study revealed that the expropriation process was not participatory and the right holders were not treated as what is expected. It is further found that economic losses, moral damage and social disturbance payments were not considered in the compensation package. The displacement compensation given was also inadequate and sometimes delayed and the time value of money was not taken into account for delayed payments. This creates social and economic problems. The rehabilitation and resettlement program was inadequate and ineffective. The expropriation, valuation, compensation and rehabilitation practice in general lack transparency and accountability.
Practical implications
To ensure efficient and effective expropriation, valuation and compensation, there should be a well-organized government system that provides an accurate valuation on the one hand and restores the livelihood of the displaced on the other.
Originality/value
This paper is the first on expropriation, valuation, compensation and rehabilitation within the framework of transparency, accountability, effective rehabilitation and resettlement and institutional arrangements to ensure the sustainable livelihoods of affected households.
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Novi Puspitasari, Ana Mufidah, Dewi Prihatini, Abdul Muhsyi and Imam Suroso
The purpose of this study include analyzing the conformity between the General Guidelines for the Governance of the Indonesian Sharia Entities (GGG-ISE) and the implementation in…
Abstract
Purpose
The purpose of this study include analyzing the conformity between the General Guidelines for the Governance of the Indonesian Sharia Entities (GGG-ISE) and the implementation in the field and proposing a model of corporate governance for Islamic property developers.
Design/methodology/approach
This research uses a qualitative method with a case study approach. The researcher used a structured interview method and chose a purposive technique to determine the interviewees. This study has seven interviewees representing three Islamic property developer companies in Jember Regency, East Java, Indonesia. Data collection was conducted from June to July 2023, with a duration of about 60 min for each interviewee. The interviews were conducted face-to-face in each interviewee’s residential office.
Findings
The results showed that the companies had implemented several principles of GGG-ISE, namely, ethical and responsible actors, risk management, internal control, compliance, disclosure and transparency by making financial reports, shareholder rights and stakeholder rights, both internal and external stakeholders. Furthermore, this study found that GGG-ISE does not comply with the components of the organizing organ group. This study also found that governance reports have not been implemented in GGG-ISE components. In addition, this study identified a new component that must be present and not found in GGG-ISE, namely, a statement of the use of contracts for mudharib owners and between mudharib owners and stakeholders. Based on these findings, this study proposes a governance model for Islamic property developer companies called the GGG-IPDE.
Originality/value
This research is a pioneer in proposing a corporate governance model for Islamic property developers.
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Margaret MacQueen, Michael Lawson and Wen-Nyi Ding
In the UK, responses to intense weather events regarding national and regional level perils include the support of a General Insurance policy at the address level as part of…
Abstract
Purpose
In the UK, responses to intense weather events regarding national and regional level perils include the support of a General Insurance policy at the address level as part of private residential and other insurance policies covering the key risks of flooding, subsidence and windstorm. In respect of the subsidence peril, dry summers can lead to many thousands of properties on shrinkable clay soils suffering differential downward movement as water is abstracted from the soil by vegetation. These events are forecast to increase in frequency and severity due to climate change, with costs for a dry event year of more than £500m to UK insurers. Assessing the character of these event years can inform government, local government, insurers and their agents as to the typical characteristics of an event year and its impacts. The purpose of this paper is to provide a comprehensive overview of the 2018 UK subsidence event year as it relates to trees and low rise buildings.
Design/methodology/approach
The research material is taken from claims that originated within the period commencing in the Summer of 2018, which in the UK was dry and with high levels of claim notification, and is from the private database of Property Risk Inspection Limited, one of the largest UK specialist subsidence claims handling businesses.
Findings
The data clearly illustrates the wide range of vegetative species causing or contributing to claims in the UK, their age ranges, sizes and conditions, management options and the range of land uses and statutory controls that exist in relation to title and other boundaries.
Originality/value
There have been various small-scale studies looking at individual cases of subsidence and the impacts of vegetation, but there have been no detailed investigations of large-scale claims-driven events such as the 2018 surge. The importance of this population-level investigation will only increase given the modelling for increased hot and dry summers over the coming decades.
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Irene Naliaka Cheloti and Manya Mainza Mooya
This paper examines the effects and root causes of client influence within the valuation profession in Kenya.
Abstract
Purpose
This paper examines the effects and root causes of client influence within the valuation profession in Kenya.
Design/methodology/approach
This study adopted a mixed research design incorporating a survey and experiment of registered and practising valuers in Kenya and interviews of key informants from registered and practising valuers, valuers' clients (commercial banks) and professional bodies.
Findings
The study found that client influence negatively impacts the valuation profession, contributing to inaccurate valuation outcomes, and it exists because of the valuation environment, represented by limited and unreliable information in Kenya and many other developing countries.
Originality/value
This study makes a critical contribution to the empirical literature as it introduces new insights into the impacts and causes of client influence by demonstrating how the valuation environment, characterised by poor information, contributes to client influence in Kenya, which is typical of many other developing countries.
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Abhijat Arun Abhyankar, Anand Prakash and Harish Kumar Singla
This study aims to examine whether or not residential properties closer to landfill sites have lower offer values by the developers. That is, by analyzing real estate data and…
Abstract
Purpose
This study aims to examine whether or not residential properties closer to landfill sites have lower offer values by the developers. That is, by analyzing real estate data and landfill site locations, the study seeks to provide insights into whether properties situated closer to landfill sites tend to have a lower offer values than those located farther away.
Design/methodology/approach
The study is exploratory in nature, and a case study approach is applied. A landfill site named “Uruli Devachi” is selected in the region of Pune district, and data is collected from 102 developers selling residential projects within a radius of 15 km (about 9.32 mi). The gathered data is analyzed by using basic descriptive statistics, one-way ANOVA and ordinary least squares (OLS) regression. The OLS regression helps to determine whether there is a relationship between the distance of a residential property from a landfill site and its offer value.
Findings
The findings suggest that landfill sites have a detrimental impact on residential property offer values, with the negative impact increasing with proximity to a landfill site. The negative effect seems to vanish after over 10 km (about 6.21 mi). The developers provide extra facilities including a clubhouse, a children’s play area, a gym and a swimming pool in an effort to mitigate the negative effects of the landfill site on residential properties.
Practical implications
The findings of this study could have implications for property developers, real estate professionals and policymakers in understanding how landfill proximity might impact property offer values.
Originality/value
This study presents many novelties for the Indian housing market: the landfill sites do have a negative effect on the offer value of residential property; the closer the residential property to a landfill site, the higher the negative effect. Further, the developers try and mitigate the negative effect of landfill sites on residential properties by providing additional amenities such as a clubhouse, children’s play park, gym and swimming pool.
Anindita Mukherjee, Ashish Gupta, Piyush Tiwari and Baisakhi Sarkar Dhar
Achieving tenure security is a global challenge impacting cities of the global south. The purpose of this paper is to evaluate the role of technology-enabled solutions as an…
Abstract
Purpose
Achieving tenure security is a global challenge impacting cities of the global south. The purpose of this paper is to evaluate the role of technology-enabled solutions as an enabler for the tenure rights of slum dwellers.
Design/methodology/approach
In this paper, we adopted a case study approach to analyze the use cases for technologies aiding India’s securitization of land tenure. The flagship state mission of Odisha, named the Jaga Mission, and that of Punjab, named BASERA – the Chief Minister’s Slum Development Program – were used as cases for this paper.
Findings
It was found that technologies like drone imagery and digital surveys fast-tracked the data collection and helped in mapping the slums with accuracy, mitigating human errors arising during measurement – a necessary condition for ensuring de jure tenure security. The adoption of a technology-based solution, along with a suitable policy and legal framework, has helped in the distribution of secure land titles to the slum dwellers in these states.
Originality/value
Odisha’s and Punjab’s journey in using technology to enable tenure security for its urban poor residents can serve as a model for the cities of the global south, dealing with the challenges of providing secure tenure and property rights.
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Vicki Catherine Waye, Collette Snowden, Jane Knowler, Paula Zito, Jack Burton and Joe McIntyre
The purpose of this paper is to examine whether mandatory disclosure of information accompanying the sale of real estate achieves its aim of informed purchasers.
Abstract
Purpose
The purpose of this paper is to examine whether mandatory disclosure of information accompanying the sale of real estate achieves its aim of informed purchasers.
Design/methodology/approach
Using a case study approach focused on mandatory disclosure in South Australia data was collected from interviews and focus groups with key personnel in the property industry involved in the production of information required to fulfil vendors’ disclosure obligations.
Findings
The authors found that purchasers are ill-served by a long and complex form of mandatory disclosure with a short time frame that prevents the use of the information provided. Without good form design and increased digital affordances provided by the cadastral and conveyancing systems, mandatory disclosure is insufficient to ensure minimisation of information asymmetry between vendor and purchaser.
Originality/value
To the best of the authors’ knowledge, this is the first Australian qualitative study that examines the utility of mandatory vendor disclosure in real estate sales and the first to consider the impact of the digitalisation of cadastral and conveyancing systems upon the efficacy of mandatory disclosure regimes.
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Vincent Uwaifiokun Aihie, Abiodun Kolawole Oyetunji, Temitope Omotayo and Damilola Ekundayo
Income from investment properties can fluctuate depending on the state of the economy. The idea that there is always a potential exit (sale) value whenever the property stops…
Abstract
Purpose
Income from investment properties can fluctuate depending on the state of the economy. The idea that there is always a potential exit (sale) value whenever the property stops performing at its optimum or deflation in the economy will always appeal to investors. To determine housing prices, investors would rely on a direct comparison approach (DCA) of recent substitute sales in the open market. Appraisers use this approach to develop an opinion of value when there is a plethora of recent sales to analyse.
Design/methodology/approach
The study was designed to establish the use of the analytical hierarchy process (AHP) approach as a support tool for deciding property appraisals. A case study of an industrial single-storey stand-alone building with grade-level parking in the south-east of Calgary, Canada, was investigated with the AHP approach. The result was cross-referenced with the DCA.
Findings
Using a consistency index of 0.077321 and a consistency ratio of 0.085912, the matrix multiplication was determined to be 0.456706. The average valuations derived from the adjusted price per square foot using the direct comparison method and the unadjusted price per square foot using the AHP were deemed the best value estimate in the light of available comparables. The implications of the findings suggest that AHP, as a quantitative technique, can support and validate the use of similar non-recent sale comparables when appraising investment properties with the DCA.
Originality/value
AHP is an alternative aid in quantitatively deciding the most significant value attribute for comparison before subjective adjustments. When intuitively applied in the DCA, these subjective adjustments almost always lead to an overvaluation of properties.
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