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Article
Publication date: 19 December 2023

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.

Details

Journal of Property Investment & Finance, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1463-578X

Keywords

Article
Publication date: 3 January 2024

Halim Yusuf Agava and Faoziah Afolashade Gamu

This study evaluated the effect of macroeconomic factors on residential real estate (RE) investment returns in the cities of Abuja and Lagos, Nigeria, with a view to guiding RE…

Abstract

Purpose

This study evaluated the effect of macroeconomic factors on residential real estate (RE) investment returns in the cities of Abuja and Lagos, Nigeria, with a view to guiding RE investors and researchers.

Design/methodology/approach

A survey research design was employed using a questionnaire to collect RE transaction data from 2008 to 2022 from estate surveying and valuation firms in the study areas. Rental and capital value data collected were used to construct rental and capital value indices and total returns on investment. The macroeconomic data used were retrieved from the archives of the Central Bank of Nigeria (CBN). Granger causality (GC) and multiple regression models were adopted to evaluate the effect of selected macroeconomic variables on residential RE investment returns in the study areas.

Findings

The study found a progressive upward movement in rental and capital values of residential RE investment in the study areas within the study period. Total and risk-adjusted returns on investment were equally positive within the study period. Only the inflation rate, unemployment rate and real gross domestic product (GDP) per capita were found to be the major determinants of residential RE investment returns in the study areas within the study period.

Research limitations/implications

The secrecy associated with property transaction information/data by RE practitioners in the study areas posed a challenge. Property transaction data were not adequately kept in a way for easier access and retrieval in many of the estate firms and agent offices. Consequently, there was a lack of data that spanned the study period in some of the sampled estate firms or agent offices. This data collection challenge was, however, overcome by the excess time spent retrieving the required data for this study to ensure that the findings appropriately answer the research questions.

Practical implications

Inflation and GDP per capita have been found to be significant factors that influence residential RE investment performance in the study areas. Therefore, investors should pay attention to these identified macroeconomic factors for residential RE investment in the study areas whilst making investment decisions in order to mitigate a possible loss of income or return. The government should formulate and implement economic policies that would address the current high unemployment and inflation rates in Nigeria at large.

Originality/value

This study has extended and further enriched the existing body of knowledge in the field of RE investment analysis in Nigeria. To the best of the authors' knowledge, this study is the first to adopt the Cornish Fisher value-at-risk and modified Sharpe ratio models to analyse risk and risk-adjusted returns on residential RE investment, respectively, in Nigeria. It has therefore redirected the focus of RE researchers and practitioners to a more objective approach to RE investment performance analysis in Nigeria.

Details

Journal of Property Investment & Finance, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1463-578X

Keywords

Article
Publication date: 8 January 2024

Morteza Mohammadi Ostani, Jafar Ebadollah Amoughin and Mohadeseh Jalili Manaf

This study aims to adjust Thesis-type properties on Schema.org using metadata models and standards (MS) (Bibframe, electronic thesis and dissertations [ETD]-MS, Common European…

Abstract

Purpose

This study aims to adjust Thesis-type properties on Schema.org using metadata models and standards (MS) (Bibframe, electronic thesis and dissertations [ETD]-MS, Common European Research Information Format [CERIF] and Dublin Core [DC]) to enrich the Thesis-type properties for better description and processing on the Web.

Design/methodology/approach

This study is applied, descriptive analysis in nature and is based on content analysis in terms of method. The research population consisted of elements and attributes of the metadata model and standards (Bibframe, ETD-MS, CERIF and DC) and Thesis-type properties in the Schema.org. The data collection tool was a researcher-made checklist, and the data collection method was structured observation.

Findings

The results show that the 65 Thesis-type properties and the two levels of Thing and CreativeWork as its parents on Schema.org that corresponds to the elements and attributes of related models and standards. In addition, 12 properties are special to the Thesis type for better comprehensive description and processing, and 27 properties are added to the CreativeWork type.

Practical implications

Enrichment and expansion of Thesis-type properties on Schema.org is one of the practical applications of the present study, which have enabled more comprehensive description and processing and increased access points and visibility for ETDs in the environment Web and digital libraries.

Originality/value

This study has offered some new Thesis type properties and CreativeWork levels on Schema.org. To the best of the authors’ knowledge, this is the first time this issue is investigated.

Details

Digital Library Perspectives, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2059-5816

Keywords

Article
Publication date: 10 April 2023

Xiaojuan Liu, Yinrong Pan and Yutong Han

There is a wealth of value hidden in regional cultural heritage, but its preservation status is not optimistic. This study introduces a method that focuses on the inherent…

Abstract

Purpose

There is a wealth of value hidden in regional cultural heritage, but its preservation status is not optimistic. This study introduces a method that focuses on the inherent cultural value of regional cultural heritage to preserve it by value construction and release.

Design/methodology/approach

Based on the great value of regional cultural heritage due to spatial adjacency and temporal continuity, this paper focuses on its inherent cultural value to explore the preservation path and chooses Shichahai cultural heritage digital resources for a case study. This paper draws lessons from the narrative method of ancient Chinese historiography, constructs a cultural space and tells cultural stories. A linked data organization model for digital resources is created to construct a conceptual cultural space. Then, the space is materialized by linked dataset creation. The authors tell cultural stories discovered from the space, which are presented by various user interfaces using visualization technologies.

Findings

A cultural space promotes the development of a fine-grained description of regional cultural heritage and aids in relationship discovery to enhance the value construction ability. Additionally, storytelling via interactive user interfaces is helpful in the utilization and dissemination of knowledge extracted from a cultural space and enhances the value release of regional cultural heritage. In this way, a path with the inherent cultural value of regional cultural heritage as the core is established, and preservation is achieved.

Originality/value

This study focuses on the inherent cultural value of regional cultural heritage and proposes a new path to preserve these resources. This approach will enrich research on the preservation of regional cultural heritage and contribute to the construction and release of its cultural value.

Details

Aslib Journal of Information Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2050-3806

Keywords

Open Access
Article
Publication date: 28 January 2022

Diego Camara Sales, Leandro Buss Becker and Cristian Koliver

Managing components' resources plays a critical role in the success of systems' architectures designed for cyber–physical systems (CPS). Performing the selection of candidate…

1183

Abstract

Purpose

Managing components' resources plays a critical role in the success of systems' architectures designed for cyber–physical systems (CPS). Performing the selection of candidate components to pursue a specific application's needs also involves identifying the relationships among architectural components, the network and the physical process, as the system characteristics and properties are related.

Design/methodology/approach

Using a Model-Driven Engineering (MDE) approach is a valuable asset therefore. Within this context, the authors present the so-called Systems Architecture Ontology (SAO), which allows the representation of a system architecture (SA), as well as the relationships, characteristics and properties of a CPS application.

Findings

SAO uses a common vocabulary inspired by the Architecture Analysis and Design Language (AADL) standard. To demonstrate SAO's applicability, this paper presents its use as an MDE approach combined with ontology-based modeling through the Ontology Web Language (OWL). From OWL models based on SAO, the authors propose a model transformation tool to extract data related to architectural modeling in AADL code, allowing the creation of a components' library and a property set model. Besides saving design time by automatically generating many lines of code, such code is less error-prone, that is, without inconsistencies.

Originality/value

To illustrate the proposal, the authors present a case study in the aerospace domain with the application of SAO and its transformation tool. As result, a library containing 74 components and a related set of properties are automatically generated to support architectural design and evaluation.

Details

Applied Computing and Informatics, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2634-1964

Keywords

Article
Publication date: 2 March 2023

Frank Nyanda

This study aims to examine the effect of proximity and spatial dependence on the house price index for the nascent market Dar es Salaam, Tanzania. Despite the ongoing housing…

Abstract

Purpose

This study aims to examine the effect of proximity and spatial dependence on the house price index for the nascent market Dar es Salaam, Tanzania. Despite the ongoing housing market transactions, there is no single house price index that takes into account proximity and spatial dependence. The proximity considerations in question are proximal to arterial roads, public hospitals, an airport and food markets. Previous studies on sub-Saharan Africa have focused on the ordinary least squares (OLS)-based hedonic model for the index and ignored spatial and proximity considerations.

Design/methodology/approach

Using the OLS and spatial econometric approach, the paper tests for the significance of the two effects – proximity and spatial dependence in the hedonic price model with year dummy variables from 2010 to 2019. The paper then compares the three indices in the following configurations: without the two effects, with proximity factors only, and with both effects, i.e. proximity and spatial dependence.

Findings

The inclusion of proximity factors and spatial dependence – spatial autocorrelation – seems to improve the hedonic price model but does not significantly improve the house price index. However, further research should be called for on account of the nascent nature of the market.

Originality/value

The paper brings new knowledge by demonstrating that it may not be necessary to take into account proximity factors and spatial dependence for the Dar es Salaam house price index.

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: 12 December 2023

Chibuikem Michael Adilieme, Rotimi Boluwatife Abidoye and Chyi Lin Lee

Given the significant role played by valuers and the evidence of a lack of independence in some property valuation industries, particularly in emerging markets, this study…

Abstract

Purpose

Given the significant role played by valuers and the evidence of a lack of independence in some property valuation industries, particularly in emerging markets, this study analyses the issue of client influence in property valuation by providing a valuer-client perspective and measuring the interrelationships between the clients' influence factors to identify causal factors of prominence, which can assist in developing solutions to address the clients' influence issue.

Design/methodology/approach

The study used a mixed-method approach. Firstly, interviews were conducted with ten property valuers and five financial institution staff in Nigeria, and the data were subject to thematic analysis using Nvivo 12 software. A matrix questionnaire survey was administered to the valuers, and the responses were analysed using the fuzzy Decision-Making Trial and Evaluation Laboratory (DEMATEL) method.

Findings

The results indicate that institutional clients, loan-seeking customers, property valuers and the perception of corruption within the Nigerian environment fuelled the issue of clients' influence. Based on the measurement of the interrelationship between the 14 identified client influence factors, the type of company, perception the public has of the industry, size of the firm, relationship with the client, type of client and regulatory framework were the factors of prominence.

Practical implications

The findings of this study bear huge implications for Nigeria and other similar structured property markets facing the issue of clients' influence in property valuation. With the prominent factors bearing root in a mix of client, valuer and environmental factors such as the valuation structure, process and public perception, there is a need for solutions that level the playing field between institutional clients and valuers, reinforce transparency and establish excellent regulatory standards to address the issue of clients' influence.

Originality/value

This study is the first to measure the interrelationships between the clients' influence factors to identify the prominent causal factors. Accordingly, considering the multi-factors, the research is novel as it focusses on those factors that would likely lead to other factors, thereby providing opportunities to develop solutions that focus on those factors of prominence. Secondly, the study deviates from the narrative on clients' influence in property valuation, which pits it as solely a client or valuer factor, by showing how the interplay of the stakeholders' interests and the environment promotes the issue in a non-transparent property market.

Details

Journal of Property Investment & Finance, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1463-578X

Keywords

Article
Publication date: 8 June 2023

Siti Latipah Harun, Rosylin Mohd Yusof, Norazlina Abd. Wahab and Sirajo Aliyu

This study aims to investigate the dynamic interaction between interest rates and commercial property financing offered by Islamic banks in Malaysia.

Abstract

Purpose

This study aims to investigate the dynamic interaction between interest rates and commercial property financing offered by Islamic banks in Malaysia.

Design/methodology/approach

The authors use the autoregressive distributed lag (ARDL) cointegration methodology to analyse the short- and long-run effect of the interest rates and rental rates on commercial property financing of Islamic banks in Malaysia between 2010: Q1 and 2018: Q2.

Findings

The findings reveal that changes in interest rates affect Islamic commercial property financing. This indicates that Islamic banks still rely on interest rates as a benchmark without fully implementing Islamic rental rates. This corroborates the subsequent finding, where overnight policy rates influence commercial property financing.

Research limitations/implications

Despite the authors’ attempt to provide insights into Islamic commercial property financing, the study is limited to secondary data; further research can use survey information to obtain other details that are not included in this study. Similarly, this study does not cover the operation and financial lease debate in Musharakah Mutanaqisah. Future studies can examine the challenges faced by the financial institution towards implementing rental rates in other emerging and developing countries using a different methodology.

Originality/value

This study is the first to investigate the dynamic changes in overnight policy rates, average lending rates and rental rates on Islamic commercial property financing in Malaysia using ARDL techniques. The authors uncover the research and institutional implications of Islamic commercial property financing rates and provide policy and future research directions coupled with the proposed modified rental rate to be developed.

Details

Journal of Islamic Accounting and Business Research, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1759-0817

Keywords

Article
Publication date: 29 March 2024

Sihao Li, Jiali Wang and Zhao Xu

The compliance checking of Building Information Modeling (BIM) models is crucial throughout the lifecycle of construction. The increasing amount and complexity of information…

Abstract

Purpose

The compliance checking of Building Information Modeling (BIM) models is crucial throughout the lifecycle of construction. The increasing amount and complexity of information carried by BIM models have made compliance checking more challenging, and manual methods are prone to errors. Therefore, this study aims to propose an integrative conceptual framework for automated compliance checking of BIM models, allowing for the identification of errors within BIM models.

Design/methodology/approach

This study first analyzed the typical building standards in the field of architecture and fire protection, and then the ontology of these elements is developed. Based on this, a building standard corpus is built, and deep learning models are trained to automatically label the building standard texts. The Neo4j is utilized for knowledge graph construction and storage, and a data extraction method based on the Dynamo is designed to obtain checking data files. After that, a matching algorithm is devised to express the logical rules of knowledge graph triples, resulting in automated compliance checking for BIM models.

Findings

Case validation results showed that this theoretical framework can achieve the automatic construction of domain knowledge graphs and automatic checking of BIM model compliance. Compared with traditional methods, this method has a higher degree of automation and portability.

Originality/value

This study introduces knowledge graphs and natural language processing technology into the field of BIM model checking and completes the automated process of constructing domain knowledge graphs and checking BIM model data. The validation of its functionality and usability through two case studies on a self-developed BIM checking platform.

Details

Engineering, Construction and Architectural Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0969-9988

Keywords

Article
Publication date: 4 July 2023

Zicheng Zhang, Xinyue Lin, Shaonan Shan and Zhaokai Yin

This study aims to analyze government hotline text data and generating forecasts could enable the effective detection of public demands and help government departments explore…

Abstract

Purpose

This study aims to analyze government hotline text data and generating forecasts could enable the effective detection of public demands and help government departments explore, mitigate and resolve social problems.

Design/methodology/approach

In this study, social problems were determined and analyzed by using the time attributes of government hotline data. Social public events with periodicity were quantitatively analyzed via the Prophet model. The Prophet model is decided after running a comparison study with other widely applied time series models. The validation of modeling and forecast was conducted for social events such as travel and educational services, human resources and public health.

Findings

The results show that the Prophet algorithm could generate relatively the best performance. Besides, the four types of social events showed obvious trends with periodicities and holidays and have strong interpretable results.

Originality/value

The research could help government departments pay attention to time dependency and periodicity features of the hotline data and be aware of early warnings of social events following periodicity and holidays, enabling them to rationally allocate resources to handle upcoming social events and problems and better promoting the role of the big data structure of government hotline data sets in urban governance innovations.

Details

Library Hi Tech, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0737-8831

Keywords

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