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The purpose of this research is to ascertain the extent to which the income capitalization approach reflects the pattern of emerging rental income in Enugu property market.

The survey research design was used in this study. Data from the field was gathered through a data collection pro forma administered to 40 valuers in Enugu metropolis in the manner of conducting interviews. This study used key valuation details of 54 sampled income generating properties valued by the respondent valuers between 2015 and 2022 using the income capitalization approach. The same sampled properties were then revalued by the researchers using annuity due assumption/formulas of the income capitalization approach. Descriptive and inferential statistics were used to analyze the data.

The study revealed that the income capitalization approach used by most valuers in Enugu does not reflect the property rental income pattern prevailing in Enugu property market where rents are paid in advance. The study further shows that the application of the income capitalization approach for valuation of annually in-advance property rental income cash flow results in a higher capital value of 3.49% in Enugu property market.

The limitations to this study are that past valuation done by valuers were used in the analysis instead of actual property sales and a relatively small number of sampled valuers and properties are used in the study The implication of the study is that ordinary annuity assumptions or formulas is inaccurate and not suitable for valuation of income generating property in an emerging market like Nigerian where timing of cash flow is annually in advance. Based on the result of this study it seems that ordinary annuity approach negate the principle of estimating value using income capitalization method by converting future cash flow from income generating property into an estimate of property value.

The study advocates the adoption of the use of annuity due formulas in the valuation of income generating properties in Nigeria as its practice standard to avoid undervaluation as this assumption is logical and provides more accurate value due to prevailing lease structure and rent payments patterns in the country. The implication of the study is that the use of ordinary annuity assumptions or formulas is inaccurate and not suitable for the valuation of income generating property in an emerging market like Nigerian where timing of cash flow is annually in advance.

This is one of the very few empirical studies carried out in Nigeria to ascertain the extent to which the income capitalization approach used by valuers reflects the rental income pattern that prevails in the Nigeria property market.

Following the adoption of International Financial Reporting Standards (IFRS), firms are required to recognize gains or losses from investment property revaluation in the income statement, instead of equity in the balance sheet. This results in both a “materiality effect” (as auditors set a higher materiality level and require lower audit efforts) and a “cushion effect” (as revaluation gains serve as a cushion and reduce earnings manipulation incentives). Utilizing this unique setting, this study investigates whether the use of fair value measurement for investment property affects audit pricing before and after IFRS convergence in the Hong Kong real estate industry.

Using a sample of 78 real estate companies listed on the Hong Kong Stock Exchange in the pre-IFRS period (2001–2004) and the post-IFRS period (2005–2008), this study employs multivariate regression analyses to test the research hypotheses with respect to the association between investment property revaluation and audit fees and the role of corporate governance structures in the context of family control.

The empirical results suggest that audit fees decrease with revaluation gains or losses from investment property revaluation after IFRS convergence, but not before. Furthermore, the negative association is stronger in companies controlled by founders, with proportionally more independent directors on the board and with a smaller board size. This is consistent with the moderating effect of corporate governance.

The findings shed more light on the consequences of fair value accounting for non-financial assets and are of interest to regulators for assessing the benefits of the wide use of fair value measurement under IFRS in emerging markets, especially where the corporate ownership structure is typically controlled by founding families. This study also provides recommendations for the audit community to fully consider the impact of asset revaluation on audit procedures and audit pricing.

This paper aims to examine the impact of coastline on the rental value of residential property in proximity to the coastline, using the hedonic pricing model from two perspectives. First, Model 1A–C accounted for estimating the influence of coastal amenities while controlling for other housing attributes influencing rent. Second, Model 2A–C accounted for the interaction between coastal amenities/disamenities and other housing attributes influencing rent.

A survey approach was adopted for the data collection process. For both models, property values were measured in proximity to coastline using 0–250 m, 251–500 m and 0–500 m.

Findings revealed that property rental value increases as we move away from the coastline when disamenities are not controlled. The results suggested that for a mean-priced home (N2,941,029 or $8,170) at the mean distance from the coastline (301.83 m), a 1% increase in distance from the coastline would result in a 0.001% or N9.77 ($0.03) increase in rental value.

The implication to real estate valuers is that varying premiums should be considered when valuing a property depending on the distance to the coastline while considering other housing attributes.

This research introduces a novel approach to the hedonic model for determining property values in proximity to coastal environment by estimating the influence of coastal amenities while controlling for other housing attributes influencing rent, on the one hand, and accounting for the interaction between coastal amenities/disamenities and other housing attributes influencing rent, on the other.

The paper aims to examine the influence of urban violence on residential property rental value in Kaduna metropolis. This is motivated by the spate of insurgency and the attendant destructions of land and properties in the past few years in the study area.

This paper adopted a survey of key sites of urban violence and also a total enumeration of all the 67-estate surveying and valuation firms in the study area to elicit from them vital information on trends on rental from 2011 to 2019. The data obtained were analyzed using both descriptive and inferential methods of statistical analysis.

The result of this study revealed that among other sources of urban violence, violence fueled by ethnic affiliations/convictions is the only significant factor that influenced rental value of residential property in the study area. The regression analysis shows that ethnic violence accounted for 21.6% of the variability observed in residential property rental value over the period of study. Furthermore, the correlation result showed that ethnic violence is negatively correlated (−0.458) and significantly related to residential property rental value.

This study concluded that the emergence of urban violence in Kaduna metropolis contributed to a fall in the rental value of residential property in the study area. This study thus suggested policy directions that could engender harmonious coexistence among different ethnic groups in the study area.

This study is expected to enhance improvement in residential property rental value in Kaduna metropolis through increase assurance to security of lives and property.

The purpose of this study was to assess real estate cycles and their impact on property values in Gaborone, Botswana. Investors and real estate professionals in Botswana rarely assess property cycles when purchasing property. This study therefore, aims to assess whether real estate cycles do exist, their duration and the type of real estate cycle that Botswana experiences.

Data was collected from primary and secondary sources. This included sourcing out information at the Deeds Registry Office in Gaborone on residential property sales and a questionnaire to 100 property investors. A record was made of properties that were sold for the period of 16 years starting from the year 2000 to 2016. Secondary data on the other hand was also collected from published and unpublished books, academic journals, professional journals, magazines, reports and monographs. A quantitative approach was used in this study. Data was analysed using Microsoft Excel and subsequently presented in form of tables and graphs.

The findings from the literature review revealed that there are four phases in the real estate cycles (recovery, expansion, oversupply and recession) and each has distinct features that an investor must be aware of to avoid consequences in the property market. The results from the data analysis revealed that real estate cycles do exist in Botswana as identified during the past 16 years. The cycle that Botswana experiences is called the kitchen cycle. It was also evident that Botswana experienced three cycles lasting five to six years each. Furthermore, it was discovered that all phases in the real estate cycles affect property values.

There is relatively little information about property cycles and their timing in Botswana. Therefore, this study may assist valuation surveyors to make promptly informed decisions on property investment through cycle assessment and hence positively inform the public and financial stakeholders. Society might find this beneficial in as far as decision-making is concerned when thinking of investing in real estate. The current system at the deeds office is cumbersome and time consuming, thus making it difficult for the researchers and possibly the public to analyse the property market. This study therefore, may encourage the Deeds Registry Office to computerize their records.

There is relatively little information about property cycles and their timing in Botswana. Therefore, this study may assist valuation surveyors to make promptly informed decisions on property investment through cycle assessment and hence positively inform the public and financial stakeholders.

Society might find this beneficial in as far as decision-making is concerned when thinking of investing in real estate.

To the best of the authors’ knowledge, this paper is the first of its kind in Botswana to extend the knowledge of real estate cycles and their impact on property cycles in Botswana.

The world over is becoming urbanized, and people are migrating to cities in large numbers in search of opportunities. The increased urbanization has posed challenges such as congestion, rising crime, and growing urban poverty. The governments respond by providing amenities such as schools, hospitals, and housing to meet to increase in demand for these facilities. However, there is a need for the provision of facilities that meets the expectations of the people, particularly on the proximity of amenities and bundles of utility-bearing housing characteristics. In an attempt to address the challenge mentioned, the study estimated the hedonic characteristics influencing the willingness to accept and willingness to pay for housing facilities in the Eastern Cape Province, South Africa. Using a multiple linear regression model and artificial neural network, the study found out that properties with a bathroom, garage and large floor size have a higher value compared to properties without these facilities.When making decisions to acquire a property, buyers consider the availability of discounts and the prevailing property price. Overall, willingness to pay and accept decisions are mainly determined by location and the price at which homogeneous neighborhood properties were sold. Therefore, the study recommends that urban town planners and other housing authorities prioritize the construction of properties with larger floor areas, parking bays, and bathrooms using a cost-effective mechanism that makes the properties affordable to residents.

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.

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.

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.

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.

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.

The curation of ontologies and knowledge graphs (KGs) is an essential task for industrial knowledge-based applications, as they rely on the contained knowledge to be correct and error-free. Often, a significant amount of a KG is curated by humans. Established validation methods, such as Shapes Constraint Language, Shape Expressions or Web Ontology Language, can detect wrong statements only after their materialization, which can be too late. Instead, an approach that avoids errors and adequately supports users is required.

For solving that problem, Property Assertion Constraints (PACs) have been developed. PACs extend the range definition of a property with additional logic expressed with SPARQL. For the context of a given instance and property, a tailored PAC query is dynamically built and triggered on the KG. It can determine all values that will result in valid property value assertions.

PACs can avoid the expansion of KGs with invalid property value assertions effectively, as their contained expertise narrows down the valid options a user can choose from. This simplifies the knowledge curation and, most notably, relieves users or machines from knowing and applying this expertise, but instead enables a computer to take care of it.

PACs are fundamentally different from existing approaches. Instead of detecting erroneous materialized facts, they can determine all semantically correct assertions before materializing them. This avoids invalid property value assertions and provides users an informed, purposeful assistance. To the author's knowledge, PACs are the only such approach.

This paper aims to investigate the effects of school quality (SQ) on residential property prices in Johannesburg, South Africa. Previous studies have empirically examined the quality of private and public schools without a standard proxy that is accepted in the literature. As a result, this paper extends the literature to the global south by the effect that SQ has on residential property price changes in the local markets of the City of Johannesburg.

The research adopts the hedonic pricing model to evaluate and quantify the impact that the structural attributes such as erf size; number of bedrooms and bathrooms; and SQ measured by pass rates, sport rankings and quality of facilities have on house prices. A total of 2,763 property transactions covering the Kensington and Observatory areas of the City of Johannesburg over the period 2010 and 2020 were obtained from the deeds registry and used for the empirical analysis.

The study finds that SQ has a positive impact on house prices. When the average pass rate of the model school increases by 1%, all other things being equal, house prices also increase by 1.8%. This suggests that people who live closer to the model school are willing to pay more when the school performance improves. The 1.8% premium this study attributes to a 1% increase in school performance is however generally low when compared to some findings in the literature suggesting that there may be some other important factors that households consider when purchasing their home.

The main contribution is uncovering the relationship between the SQ and residential property prices in the local markets, using Kensington and Observatory in Johannesburg as sampled areas. Due to the presence of reliable and quality of data sets, such studies are not many in the global south and a study of this nature in South Africa is notably not existing in the literature.

Aritificial intelligence (AI)-focused enterprises purpose to provide value-creating and differentiated products and services using innovative technologies. For this reason, it is aimed to examine the effects of value creation, intellectual property and organizational creativity variables to make evaluations to increase the success of such enterprises.

Random sampling method was used in the research. The population of the research consists of AI-oriented enterprises in technoparks. On the specified days, short-term visits and surveys were conducted face-to-face. Name and similar personal information was not taken in the research and participation was made on a voluntary basis. A sample size of 500 units is a sufficient size at the 0.05 significance level. SmartPLS (4.0.8.4) licensed software was used in the research.

As a result of the collected data, it has been supported by hypotheses that value creation, intellectual property and organizational creativity have positive effects so that artificial intelligence-oriented enterprises can be successful in performance criteria.

Since the research was conducted by collecting data from artificial intelligence-oriented enterprises in technoparks in Istanbul, it would not be correct to evaluate the analysis results by making generalizations. For this reason, it is recommended that similar studies planned to be conducted in the future should contribute to the literature by developing the research model, taking into account the limited situation in the sample.

According to the results of the analysis of the effects of value creation, intellectual property and organizational creativity in artificial intelligence-oriented enterprises, in order to increase the success of such enterprises, they should offer more value to their customers, protect their technologies and increase their innovation capacity.

Value creation, intellectual property, and organizational creativity in AI-focused enterprises are important topics in a rapidly growing industry such as AI-focused enterprises. Therefore, a research investigating these variables together offers a different perspective than previous studies.