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Article
Publication date: 27 November 2023

Antonio-Martín Porras-Gómez

Informal housing stands out as a major challenge surrounding the massive reconstruction of Syrian cities, devastated by a bloody war and a terrible earthquake. The purpose of this…

Abstract

Purpose

Informal housing stands out as a major challenge surrounding the massive reconstruction of Syrian cities, devastated by a bloody war and a terrible earthquake. The purpose of this article is to assess the adequacy of the Syrian Law to adequate provide a solution to this problem.

Design/methodology/approach

With the purpose of informing the question, this paper offers a legal-institutional analysis of the informal housing phenomenon and the corresponding regulatory responses in Syria. A literature review is conducted, and functional analysis of the legal texts and their effective implementation is provided.

Findings

First, informal housing in Syria has been fostered by the existence of an erratic regulation, particularly burdened by the incoherence of passing repressive provisions against informal housing while master plans were conspicuously absent or incomplete. Second, the regulatory policy seems to be leaning toward the urban renewal option, indicating a supply-oriented housing approach that may face serious challenges due to the scarcity of capital. In this context, regulation should not underestimate any policy tools at hand (renewal and upgrading; with the contribution of public, private and cooperative sectors).

Originality/value

Although there have been several studies on informal housing in Syria, none has taken a legal institutionalist approach. Furthermore, this study offers an up-to-date account of the problem, taking into account the problematic after the 2023 earthquake and the content of Law 2/2023.

Details

Journal of Property, Planning and Environmental Law, vol. 16 no. 3
Type: Research Article
ISSN: 2514-9407

Keywords

Article
Publication date: 12 December 2023

Rosa M. Garcia-Teruel

The Recast Energy Efficiency Directive 2023 has defined the concept of “split incentive,” also known as “tenant-owner dilemma.” This dilemma refers to the situation where neither…

Abstract

Purpose

The Recast Energy Efficiency Directive 2023 has defined the concept of “split incentive,” also known as “tenant-owner dilemma.” This dilemma refers to the situation where neither landlords nor tenants have incentives to invest in energy efficiency upgrades. Although the Energy Efficiency Directive calls Member States to overcome legal barriers to remove split incentives and to encourage retrofits, the list of possible measures is too vague. This paper aims to discuss tenancy law measures designed to increase the energy efficiency of residential housing and to detect which Member States have already addressed this phenomenon.

Design/methodology/approach

This paper analyses, from a civil legal perspective, the possible private law barriers arising from the tenant-owner dilemma when performing energy efficiency works in selected countries and proposes legal reforms in tenancy law and related policies to overcome them. To do so, this paper follows a legal-dogmatic and comparative law methodology.

Findings

This paper concludes that some tenancy law provisions, such as the possibility to increase the rent after energy efficiency renovations and long-term leases, may challenge the tenant-owner dilemma in private rented markets, thus promoting renovations and retrofitting for energy efficiency purposes. It also proposes other policies intended to increase parties’ willingness to undertake works.

Research limitations/implications

More research on the economic and legal efficiency to regulate some of the civil law measures to challenge the tenant-owner dilemma should be necessary.

Practical implications

The civil law measures included in this paper may help national policymakers meet the energy efficiency targets, according to what is established in the Recast Energy Efficiency Directive 2023.

Originality/value

Based on the economic theory of the tenant-owner dilemma, this paper investigates the elements of tenancy law that may contribute to less energy-efficient homes, proposing policies for those countries interested in addressing the energy-efficiency challenge from a private law point of view.

Details

Journal of Property, Planning and Environmental Law, vol. 16 no. 3
Type: Research Article
ISSN: 2514-9407

Keywords

Article
Publication date: 27 May 2024

Apoorva Dandinashivara Krishnamurthy and Gangadhar Mahesh

In the context of an absence of studies examining the interrelationship between Indian construction industry and residential real estate sector, the study aims to develop and test…

Abstract

Purpose

In the context of an absence of studies examining the interrelationship between Indian construction industry and residential real estate sector, the study aims to develop and test a conceptual framework to stimulate construction industry through optimisation of housing market in India. The developed conceptual framework lays down a blueprint to assess the interaction between construction industry and housing market in other countries.

Design/methodology/approach

Means of stimulation of construction industry by residential real estate sector were identified. Housing market was examined to identify factors constituting consumer-centric delivery and consumer-empowered demand. Supply side of housing market was probed to identify underlying factors stifling housing delivery. The identified factors were put together to form the conceptual framework. A questionnaire was developed and administered to the delivery-side stakeholders of housing market.

Findings

The study demonstrates significant correlations between real estate investment-led construction industry output stimulation and consumer-centric residential real estate delivery. The deterrents to consumer-centric housing delivery have been ascertained to be having an impact on time, cost and scope of housing projects. Significant correlations have been ascertained between the deterrents. On the demand-side, skills, awareness and engagement of consumers are strongly correlated with each other. Affordability of housing is rightfully correlated with all the three means of stimulation of construction industry output.

Originality/value

Specific to the Indian context, the study presents and validates a novel conceptual framework aimed at stimulation of construction industry output through interventions in housing market.

Details

Built Environment Project and Asset Management, vol. 14 no. 4
Type: Research Article
ISSN: 2044-124X

Keywords

Article
Publication date: 11 July 2024

Nada A. Mustafa, Ghada Farouk Hassan, Mohab Abdel Moneim Elrefaie and Samy Afifi

Real estate projects are capital-intensive and deeply intertwined with economic factors, making them subject to various influences besides local housing needs. This paper aims to…

Abstract

Purpose

Real estate projects are capital-intensive and deeply intertwined with economic factors, making them subject to various influences besides local housing needs. This paper aims to comprehensively understand the dynamics of the Egyptian real estate market, examining real estate cycles, driving factors and their correlation and scale of impact.

Design/methodology/approach

The study conducts a literature review to explore real estate cycles and their driving factors, along with the relationship between real estate and macroeconomic cycles. It then delves into the dynamics of the Egyptian real estate market, followed by a time series analysis that incorporates five key indicators: economic indicator, demand indicator, supply indicator, capital flow indicator and cost indicator over a 12-year interval (2012–2023), to examine short-term cycle factors, followed by correlation and multi-linear regression analysis to elucidate interrelations among these factors.

Findings

Through measuring and comparing the prementioned indicators with different economic and social events, the study paints a comprehensive picture of the macroeconomic environment and the real estate cycle in Egypt. Where demand has been found to be more sensitive and directly affected by macroeconomic factors than the supply. With the economic factor as the factor with the highest impact, especially in times of economic fluctuations, the impact has been immediate and short-term. These findings support the idea that the demand in Egypt is speculative, laying a threat of longer recession periods in the long term and having greater and more direct impact.

Originality/value

This paper contributes to the understanding of the Egyptian real estate market by integrating insights from real estate cycles, macroeconomics and specific market dynamics. The application of time series, correlation and multi-linear regression analysis provides a nuanced understanding of the interplay between several factors shaping the real estate cycle. Ultimately, the findings offer valuable insights for decision-makers involved in urban development planning, facilitating more informed and precise decision-making processes.

Details

International Journal of Housing Markets and Analysis, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1753-8270

Keywords

Article
Publication date: 1 July 2024

Hassan F. Gholipour, Reza Tajaddini and Amir Arjomandi

This research contributes to the existing literature on the connection between trust and investment activities by exploring the effect of trust in the retirement system on…

Abstract

Purpose

This research contributes to the existing literature on the connection between trust and investment activities by exploring the effect of trust in the retirement system on dwelling investments.

Design/methodology/approach

This study utilizes data including 28 OECD countries from 2009 to 2020, and employs panel fixed effects and GMM estimators.

Findings

The analysis reveals a negative relationship between trust in the retirement system and investment in dwellings. Notably, this is found to be more evident in countries that promote neo-liberalized welfare systems.

Practical implications

The implications of our results are particularly relevant for policymakers and international construction firms.

Originality/value

The primary contribution of this paper extends the “trust–pension investment behavior” nexus. We explore whether individuals with diminished trust in the retirement system consider investing in the property market as an alternative means to safeguard their financial well-being during retirement.

Details

Journal of Economic Studies, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0144-3585

Keywords

Open Access
Article
Publication date: 18 July 2024

Alejandro Fernandez

The purpose of this paper is to understand the distributional impact of house price increases on consumption in the context of the energy transition.

Abstract

Purpose

The purpose of this paper is to understand the distributional impact of house price increases on consumption in the context of the energy transition.

Design/methodology/approach

This study draws from two micro cross-sectional datasets, the English Housing Survey (EHS) and the Living Costs and Food Survey (LCFS) to study the Marginal Propensity to Consume (MPC) out of changes in house prices. By employing pseudo-panel regressions, the paper examines the impact of house price changes on consumption among diverse household types.

Findings

This paper finds varying consumption responses to house price changes across age and tenure groups. Older homeowners tend to increase consumption when house prices rise. In contrast, middle-aged individuals, often renters or mortgage holders, reduce consumption in response to price increases. The youngest age group also experiences increased consumption but to a lesser degree than the oldest group. Energy-efficient homes are related to lower consumption across all tenure levels. However, when interacted with house prices and age, the estimates are positive, pointing to an unequal accrual of property premiums depending on housing market positions.

Research limitations/implications

The main limitations stem from data constraints. First, using a pseudo-panel approach hinders control for unobservable selection bias. Additionally, while robust under cross-validation and specifications tests, the energy efficiency variable imputation results in a low number of energy-efficient homes. Due to heterogeneous responses to rising house prices, this paper contends that an energy transition model that subsidises homeowners’ renovation is likely to produce a negative impact on consumption among younger and middle-aged households.

Originality/value

This paper contributes to the MPC literature by incorporating energy efficiency as a key variable. It draws from recent data to obtain new estimates. By highlighting shifts in consumption patterns the paper contributes to a well-established body of literature with renewed policy relevance regarding housing retrofit.

Details

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

Keywords

Article
Publication date: 1 July 2024

Lisa von Wittenhorst zu Sonsfeld and Elisabeth Beusker

The aim of this paper is to determine the needs and preferences of students concerning different areas and attributes of dormitories, taking their financial background into…

Abstract

Purpose

The aim of this paper is to determine the needs and preferences of students concerning different areas and attributes of dormitories, taking their financial background into account.

Design/methodology/approach

A quantitative survey was conducted in the 21 publicly funded dormitories in Aachen (Germany) in 2022 to determine students’ needs and preferences for housing. In total, more than 1,200 students participated in the 10-min online survey.

Findings

The findings show the needs and preferences of students from different financial backgrounds for various areas in the dormitory. These include the location of the dormitory, the outdoor area, the shared spaces, the sanitary facilities (bathroom and kitchen), and the students’ private rooms. The results are divided into needs that all students have regardless of their financial background (“must-haves”) and needs that correspond to individual financial groups (“nice-to-haves”).

Research limitations/implications

The results relate to the medium-sized city of Aachen as a case study in Germany – with an average rent level – and its urban situation. The outcomes are therefore only transferable to a limited extent to cities with different framework conditions, as the needs and preferences of students may differ.

Practical implications

The results serve as a valuable guideline for future development in the field of student housing for different rental segments.

Originality/value

The paper fills a research gap in the identification of current student housing needs and preferences in German dormitories, taking financial backgrounds into account.

Details

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

Keywords

Open Access
Article
Publication date: 10 August 2022

Job Taiwo Gbadegesin

The purpose of this paper is to investigate how the pandemic affects tenants’ response to their lease obligations. This paper commences with examining the adopted tenant selection…

404990

Abstract

Purpose

The purpose of this paper is to investigate how the pandemic affects tenants’ response to their lease obligations. This paper commences with examining the adopted tenant selection criteria during the COVID-19 pandemic. Then, this paper statistically tests if there is a relationship between selection criteria and response on whether the pandemic has effects or not. Then, this paper investigates the specific areas of impact on tenants’ ability to adequately keep to lease agreements in the Nigerian rental market. Finally, this paper proceeds to confirm if there is a relationship between selection criteria and the aspects of tenants’ deficiencies in rental obligations because of COVID-19.

Design/methodology/approach

Survey data, backed with interviews, is elicited from practicing estate surveyors and valuers and licensed property managers in Lagos, the largest property market in Nigeria and sub-Sahara Africa. Policy solutions and implications were solicited from personnel at the ministry of housing and senior professionals in the property sector. Data were analyzed using descriptive statistics, factor analysis and computer-aided qualitative data analysis, Atlas.ti.

Findings

Tenant’s health status is now accorded a priority together with others. Numbers of tenants are challenged with keeping to the prompt-rent-payment rule. Other areas of slight breaches included livestock rearing, subletting, alteration and repair covenants. Except for tenant reputation and tenant family size, there was no significant relationship between tenant’s health status consideration and the COVID-19 effect on tenant non-compliance with lease obligation. Tenants’ non-compliance with tenancy obligations has a connection with the tenants’ affordability, reputation, ability to sign an undertaking and health conditions during the pandemic. This paper recommends rental housing policy review.

Practical implications

It is recommended that the rental policy should be reviewed to give room for rental allowance or palliatives, private rental market regulation, exploration of the national housing fund and, if possible, social housing adoption policy in Nigeria.

Originality/value

This paper draws policymakers’ attention to the need to prepare for the future safety net that caters to citizenry welfare in challenging times.

Details

Journal of Facilities Management , vol. 22 no. 3
Type: Research Article
ISSN: 1472-5967

Keywords

Article
Publication date: 3 February 2023

Shahriar Kabir, Zakia Binte Jamal and Bindu Proshad Kairy

This study is based on the consumer purchase intention (CPI) in real estate. The purpose of this study is to investigate the link between CPI and preferred individual investment…

Abstract

Purpose

This study is based on the consumer purchase intention (CPI) in real estate. The purpose of this study is to investigate the link between CPI and preferred individual investment capacity in buying real estate properties. This study investigates if commonly known factors of CPI such as attitude, social power or subjective norms, perceived behavior power or control, location, surrounding environment and socialization can influence a consumer’s preferred investment amount when buying a house, either for own use or for rental purpose.

Design/methodology/approach

A total of 334 respondents participated in this study. The survey data was analyzed using factor analysis technique, ordinary least square technique and Poisson pseudo maximum likelihood technique.

Findings

This study finds that location, surrounding environment, property/construction papers, roads, mosque/temple and fire services significantly influence the preferred investment amount of a real estate investor.

Originality/value

This study suggests that a link exists between CPI and real estate investment decision through factors such as location, surrounding environment, legal documentation and communication facility. These identified CPI factors require serious consideration by the real estate developers and their financing partners.

Details

International Journal of Housing Markets and Analysis, vol. 17 no. 4
Type: Research Article
ISSN: 1753-8270

Keywords

Article
Publication date: 5 May 2023

Laura H. Atuesta and Monserrat Carrasco

Between 2006 and 2012, Mexico implemented a “frontal war against organized crime”. This strategy increased criminal violence and triggered negative consequences across the…

Abstract

Purpose

Between 2006 and 2012, Mexico implemented a “frontal war against organized crime”. This strategy increased criminal violence and triggered negative consequences across the country’s economic, political and social spheres. This study aims to analyse how the magnitude and visibility of criminal violence impact the housing market of Mexico City.

Design/methodology/approach

The authors used different violent proxies to measure the effect of the magnitude and visibility of violence in housing prices. The structure of the data set is an unbalanced panel with no conditions of strict exogeneity. To address endogeneity, the authors calculate the first differences to estimate an Arellano–Bond estimator and use the lags of the dependent variable to instrumentalise the endogenous variable.

Findings

Results suggest that the magnitude of violence negatively impacts housing prices. Similarly, housing prices are negatively affected the closer the property is to visible violence, measured through narcomessages placed next to the bodies of executed victims. Lastly, housing prices are not always affected when a violent event occurs nearby, specifically, when neighbours or potential buyers consider this event as sporadic violence.

Originality/value

There are only a few studies of violence in housing prices using data from developing countries, and most of these studies are conducted with aggregated data at the municipality or state level. The authors are using geocoded information, both violence events and housing prices, to estimate more disaggregated effects. Moreover, the authors used different proxies to measure different characteristics of violence (magnitude and visibility) to estimate the heterogeneous effects of violence on housing prices.

Details

International Journal of Housing Markets and Analysis, vol. 17 no. 5
Type: Research Article
ISSN: 1753-8270

Keywords

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