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Article
Publication date: 18 July 2024

Augustina Chiwuzie, Dabara Ibrahim Daniel, Olusegun Adebayo Ogunba and Jonas Hahn

Workspace equality and inclusivity remain critical in promoting diversity and dynamism across all sectors of the economy. Despite recent progress, gender disparities persist in…

Abstract

Purpose

Workspace equality and inclusivity remain critical in promoting diversity and dynamism across all sectors of the economy. Despite recent progress, gender disparities persist in the real estate sector, including education and training programmes. This study employs a quantitative research design to assess gender diversity of real estate education at Federal Polytechnic Ede in Nigeria. The study focuses on female students' enrolment in real estate programmes, their experiences, perceptions and any potential effect on real estate career prospects.

Design/methodology/approach

A self-administered questionnaire was used to collect data from 138 out of all the 150 female students currently enrolled in the real estate programmes. Descriptive statistics and a one-sample t-test were utilised for the data analysis.

Findings

The findings indicate an increased number of females enrolled in real estate programmes. Female students face a lack of access to mentorship opportunities and perceive gender discrimination and bias in the real estate industry. However, these industry factors would not deter female students' decision to pursue a career in the real estate industry after graduation.

Originality/value

This study to the best knowledge of the researchers is the first to investigate gender dimensions of real estate programmes in the context of African higher education institutions; thereby contributing to the body of knowledge on gender diversity in this field.

Details

Property Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0263-7472

Keywords

Article
Publication date: 8 April 2024

Rotimi Boluwatife Abidoye, Chibuikem Michael Adilieme, Albert Agbeko Ahiadu, Abood Khaled Alamoudi and Mayowa Idakolo Adegoriola

With the increased demand for the application of technology in property activities, there is a growing need for property professionals adept in using digital technology. Hence, it…

Abstract

Purpose

With the increased demand for the application of technology in property activities, there is a growing need for property professionals adept in using digital technology. Hence, it is important to assess the competence of academia in equipping property professionals with digital technology skills. This study, therefore, assesses property academics in Australian universities to identify their level of knowledge and use of digital technology applicable to the property industry.

Design/methodology/approach

Online questionnaire surveys were administered to 22 out of 110 property academics contacted through the Australia Property Institute (API) database to achieve this aim. The collected data were analysed using mean score ranking and ANOVA.

Findings

The study found that apart from databases and analytics platforms such as Corelogic RP data, price finder and industry-based software such as the Microsoft Office suite and ARGUS software, the academics were not knowledgeable in most identified and sampled proptech tools. Similarly, most proptech tools were not used or taught to the students. It was also found that early career academics (below five years in academia) were the most knowledgeable group about the proptech tools.

Research limitations/implications

Relying on the API database to contact property academics potentially excludes the position of property academics who may not be affiliated or have contacts with API, hence, the findings of this study should be generalised with caution.

Practical implications

The study bears huge implications for the property education sector and industry in Australia; a low knowledge and use of nascent tools such as artificial intelligence, machine learning, blockchain, drones, fintech, which have received intense interest, reveals some level of skill gap of students who pass through that system and may need to be upskilled by employers to meet the current day demand.

Originality/value

In response to the clamour for technology-inclined property professionals, this paper presents itself as the first to assess the knowledge levels and application of digital technology by property academics.

Details

Property Management, vol. 42 no. 4
Type: Research Article
ISSN: 0263-7472

Keywords

Article
Publication date: 8 February 2024

Judith Callanan, Rebecca Leshinsky, Dulani Halvitigala and Effah Amponsah

This paper examines gender diversity in the Australian valuation industry from the perspective of valuers in senior management and leadership roles and discusses gender diversity…

Abstract

Purpose

This paper examines gender diversity in the Australian valuation industry from the perspective of valuers in senior management and leadership roles and discusses gender diversity policies and practices in their organisations. Then, it explores the initiatives that can be implemented to improve gender diversity in the Australian valuation industry.

Design/methodology/approach

A focus group discussion was conducted with valuers in senior management and leadership roles from selected large valuation firms and government valuation agencies in Melbourne, Australia. Data collected through the focus group discussion was combined with secondary data sourced from journals, online articles and archival materials.

Findings

The findings reveal that whilst gender diversity in the Australian valuation industry has improved over the years, females remain underrepresented. Nonetheless, whilst some valuation companies have recognised the need to address the underrepresentation of women and introduced specific gender-focussed human resource policies and practices, these initiatives are not streamlined and implemented across the industry.

Research limitations/implications

The study highlights the need for closer collaboration between key stakeholders such as universities, professional associations, valuation companies and government agencies in devising strategies to attract female talents into the valuation industry.

Originality/value

The paper is the first empirical study to assess gender diversity in the Australian valuation industry from the perspective of valuers in management and leadership roles. The proposed policies can inform future initiatives to improve gender diversity in the valuation industry.

Details

Property Management, vol. 42 no. 4
Type: Research Article
ISSN: 0263-7472

Keywords

Article
Publication date: 20 October 2023

Ahmed Gadafi, Eric Paul Tudzi and Tahiru Alhassan

The study aims to examine the relationship between corporate real estate (CRE) strategy and corporate strategy (CS) in selected universities in Ghana. It focused on the…

Abstract

Purpose

The study aims to examine the relationship between corporate real estate (CRE) strategy and corporate strategy (CS) in selected universities in Ghana. It focused on the availability, usage, alignment and effects of CRE strategy on CS in universities.

Design/methodology/approach

The study adopted a qualitative research design, using purposive and convenience sampling techniques. Interviews were used to collect data from estate departments of selected Ghanaian higher education institutions (HEIs) in Kumasi.

Findings

All the selected HEIs purported to have CRE strategies, but they lacked a holistic approach. They were essentially just maintenance policies developed based on their CSs to support the institutions in their service delivery. All CRE management decisions were aligned with the CRE strategy.

Originality/value

The study highlights the importance of aligning CRE strategies with CSs in HEIs in developing countries to enhance academic environments.

Details

Journal of Corporate Real Estate , vol. 26 no. 3
Type: Research Article
ISSN: 1463-001X

Keywords

Article
Publication date: 9 August 2024

Adedayo Ayodeji Odebode, Oyeronke Toyin Ogunbayo and Abiola Benjamin Obayomi

Technological disruption has transformed the traditional ways of doing business in the real estate sectors. As a result of the new business realities, technology has become an…

Abstract

Purpose

Technological disruption has transformed the traditional ways of doing business in the real estate sectors. As a result of the new business realities, technology has become an integral part of the real estate business. However, due to the significant barrier to the incorporation of the technology among modern real estate start-ups, there is a need to assess the adoption and willingness to use property management software.

Design/methodology/approach

The study employed an exploratory research design. The study adopts a total enumeration of real estate start-up firms in Lagos, Nigeria, to ensure true representations among the respondents and reduce sampling errors. The data obtained were analyzed using descriptive and inferential statistics.

Findings

The study revealed that the majority of the respondents are aware of the identified property management software but tenant verification software recorded the highest level of awareness and usage. The finding also revealed that the association between the availability of staff competence, practicality of the software, ease of use, data ownership and copyright, financial resources, future-proof technology track, Internet connection, perceived benefits and productivity and branding are statistically significant in influencing the level of adoption among the respondents.

Research limitations/implications

The researchers had initial challenges with the attitude of respondents to willingness and timely disbursement of information which was later resolved by explaining the significance for the study. The findings of the research will be useful and serve as an eye opener to practitioners, the conventional real estate surveying and valuation firms, to relevance of software technology in enhancing their operations and efficiency, while it can also boost the academic curriculum.

Practical implications

The knowledge about the adoption of property management software will equip real estate tech start-ups with the right information.

Originality/value

The paper is significant because the ultimate goal of this study is to document the empirical investigation on the level of adoption and application of emerging software among real estate tech start-ups in the Nigerian property market to facilitate the efficiency and delivery of property management services.

Book part
Publication date: 4 October 2024

Jeffrey M. Clark

The real estate industry has rapidly changed due to technological advances across residential and commercial real estate from the perspective of occupiers, investors, and service…

Abstract

The real estate industry has rapidly changed due to technological advances across residential and commercial real estate from the perspective of occupiers, investors, and service providers. Owners and buyers of properties have access to increasing information in the marketplace, including access to residential real estate platforms such as Zillow. Automated appraisals and artificial intelligence (AI) in the mortgage application process speed up home buying. Commercial real estate uses fintech to source deals, perform due diligence, and execute property management requests. This chapter includes a practitioner's view of the current and future information data needs, processes, and point solutions in the evolving technology landscape, including how tools such as ChatGPT apply. It concludes that the real estate fintech revolution has only begun, as data gaps in the real estate market require resolution before yielding better process automation and as the business model of real estate service providers shifts to strategic advisory roles.

Details

The Emerald Handbook of Fintech
Type: Book
ISBN: 978-1-83753-609-2

Keywords

Article
Publication date: 13 April 2023

Jobin Jacob, Arun Antony Chully, Benny J. Godwin and Jossy P. George

The purpose of this paper is to assess green marketing as an influential factor in the purchase of real estate. In this study, the consumer citizenship behaviour of young…

Abstract

Purpose

The purpose of this paper is to assess green marketing as an influential factor in the purchase of real estate. In this study, the consumer citizenship behaviour of young individuals will be studied with an assessment of real estate purchase intention, strategic green marketing orientation (GMO) and tactical GMO.

Design/methodology/approach

The sample frame consists of young consumers from India’s metropolitan cities. The respondents were in the range of 18 to 35 years of age. These cities provide a high standard of living, more career options and better educational opportunities. Five separate sections of a standardised questionnaire were used, and a structural equation model was used to assess a total of 393 valid replies.

Findings

Green marketing impacts the behaviour that influences the desire of young customer to buy green real estate.

Research limitations/implications

As the focus of this study is primarily on major cities, future research may study similar behaviour in non-metropolitan cities. The study can also be conducted among consumers of other age groups.

Originality/value

The originality, to the best of the author’s knowledge, exists in examining how young consumers’ opinions about green marketing impact their intentions to purchase green houses and real estate in India. This study will be accessible to all parties involved in the housing and real estate industries.

Details

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

Keywords

Article
Publication date: 30 September 2024

Huan Huu Nguyen and Hung Tien Nguyen

This research aims to investigate the relationship between environmental, social and governance (ESG) factors and the performance of real estate companies before and after the…

Abstract

Purpose

This research aims to investigate the relationship between environmental, social and governance (ESG) factors and the performance of real estate companies before and after the COVID-19 pandemic. By conducting a comprehensive case study analysis, we will explore how real estate companies' adoption of ESG practices has influenced their financial performance, market value and resilience during these uncertain times. The findings of this study will contribute to the existing body of knowledge on the relationship between ESG factors and company performance, specifically within the real estate sector. Moreover, the research outcomes will offer practical implications for real estate companies, investors, policymakers and other stakeholders, aiding them in making informed decisions regarding ESG integration and its potential benefits in uncertain times. Overall, this research aims to shed light on whether ESG factors truly enhance the performance of real estate companies, considering the unique challenges posed by the COVID-19 pandemic and sanctions. By examining the case study before and during uncertain times including COVID-19 pandemic and sanctions, we provide valuable insights into the role of ESG practices in shaping the future of the real estate industry.

Design/methodology/approach

The study focuses on the selection process and main model used to investigate the relationship between ESG factors and firm performance. The data is divided into four groups based on ESG quartiles to analyze differences between firms with high and low ESG scores. The Difference-in-Differences (DID) model is employed to assess anomalous returns and stock volatility across different ESG quartiles before and after the COVID-19 pandemic. Panel data models are utilized to study the association between ESG and firm performance, with random effects and fixed effects estimators considered. The study builds a model to analyze the impact of ESG on financial performance indicators, incorporating various factors and control variables. Additionally, the Average Treatment Effect on the Treated (ATET) analysis and DID model are explored to evaluate the causal impact of ESG on firm performance. The study emphasizes the importance of testing for parallel trends to ensure the validity of the ATET analysis and it presents a generalized DID model to examine the relationship between ESG scores and company performance outcomes.

Findings

Our study's main conclusions show that, in a world with some degree of stability, ESG not only does not improve but, in some situations, also hurts firms' success. On the other hand, at times of notable worldwide unrest, like the COVID-19 pandemic, firms with better ESG ratings demonstrate exceptional stock market success and a noteworthy ability to rebound from a crisis. Moreover, we note that investors truly prioritize sustainable investments as a risk mitigation strategy in addition to their environmental and social duties only when companies face sufficiently significant risks. The results will highlight the significance of sustainable and responsible investment for investors and provide management with more knowledge to create effective ESG strategies for their companies.

Practical implications

By incorporating sustainability and responsibility into their operations, businesses may reduce risk, perform better over the long run and benefit society and the environment. As investors come to understand the importance of ESG issues in their decision-making, the global landscape is experiencing a transformation. Therefore, in the era when stakeholders, such as consumers, workers and shareholders, want more responsibility and transparency when it comes to ESG practises, it is crucial that companies should devote their priority to their ESG performance in order to reduce the danger of slipping behind, especially in light of the increasing importance of sustainability issues and changing laws. However, in the case of small-sized firms, investment policies to improve companies’ governance need to be controlled in moderation during the period of stability because it will create financial pressure and leave them without enough resources to cope with negative impacts during uncertain period. In sum, sustainable and ethical investment is not only a fad; rather, it is a vital and unavoidable route for companies looking to prosper in an unpredictable and complicated global environment.

Originality/value

This research study significantly enhances the existing academic discourse surrounding the relationship between ESG factors and firm performance, particularly, in periods of uncertainty. The findings underscore the critical importance for real estate companies to place a greater emphasis on ESG practices in order to not only benefit themselves but also to improve their overall performance and sustainability in the long term. By shedding light on the positive outcomes associated with prioritizing ESG considerations, this study offers valuable insights for real estate firms seeking to enhance their competitive advantage and stakeholder value in today's dynamic business landscape.

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 September 2024

Jamal A.A. Numan and Izham Mohamad Yusoff

Due to the lack of consensus on influential variables for real estate appraisal, which varies from one country to another based on the national preferences and customs of each…

Abstract

Purpose

Due to the lack of consensus on influential variables for real estate appraisal, which varies from one country to another based on the national preferences and customs of each country, this study aims to identify the most influential variables affecting condominium apartment real estate appraisal within the context of Al Bireh city, Palestine.

Design/methodology/approach

The methodology adopts a cross-sectional quantitative approach, entailing the administration of an online questionnaire survey to 103 buyers and appraisers. The questionnaire aims to evaluate 32 variables concerning their impact on condominium real estate appraisal. Out of these, 25 are derived from three specific previous studies, and the remaining 7 are identified through various studies or by the authors, taking into account the local context and the geopolitical situation in Palestine. Respondents assign scores to these variables on a five-point Likert scale, ranging from 1 to 5, where 1 indicates less influence and 5 signifies the most influence. Variables with an arithmetic mean score exceeding 4 are deemed the most influential.

Findings

The findings underscore 16 and 17 influential variables as perceived by buyers and appraisers, respectively. Notably, 13 variables are common, including aspects such as parking, elevator, neighborhood, floor apartments, finishing quality, construction material, condition, building apartments, area, open sides, building floors, colonies and age.

Research limitations/implications

The primary constraint of this study is its dependence on insights solely from buyers and appraisers, disregarding input from other stakeholders like investors or developers. The questionnaire lacks vital respondent characteristics, such as gender and occupation, impeding the analysis of variable dependence on participant attributes. Although some additional influential variables are suggested through the responses of an open-ended question, the questionnaire is not repeated, leaving their influence unassessed. This study's focus on Al Bireh city limits the opportunity for result comparison with other cities, diminishing its generalizability.

Practical implications

The implications of this research are twofold: to provide stakeholders with a checklist for variables influencing apartment price value and to guide data collection related to the real estate appraisal sector, facilitating its use as input in advanced appraisal methods such as artificial intelligence with a view to improving overall performance. Obtaining an informed, mature and accurate appraisal has direct economic, business and financial impacts at the level of policymakers and individuals.

Originality/value

To the best of the authors' knowledge, this study is the inaugural endeavor in Palestine focusing on identifying pivotal factors influencing condominium apartment appraisal values. This study concludes by presenting a checklist comprising the most influential variables, offering utility to various stakeholders, including buyers, appraisers and developers. In addition, the questionnaire incorporates an open-ended question, soliciting respondents' input on additional variables they believe impact the appraisal process.

Details

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

Keywords

Article
Publication date: 30 May 2024

Cida Ghosn, Georgia Warren-Myers and Christhina Candido

The proliferation of environmental rating tools over the past two decades has endeavoured to assist the industry in measuring sustainability. Recent changes to the International…

Abstract

Purpose

The proliferation of environmental rating tools over the past two decades has endeavoured to assist the industry in measuring sustainability. Recent changes to the International Valuation Standards (IVS) have directed valuers to consider ESG. The purpose of this study aims to examine how commonly utilized sustainability tools, which have been employed to communicate building sustainability credentials, align with the IVS categories of ESG.

Design/methodology/approach

The research utilises the IVS categorisation of ESG and maps sustainability tools adopted at scale by the Australian Commercial Real Estate market. The approach identifies the various attributes within the commonly utilised rating tools that align with IVS defined ESG criteria.

Findings

The mapping provides insights into the coverage of the IVS ESG criteria in the mainstream tools used in Australia. Further, the research identifies existing sustainability criteria that are relevant to the built environment, that have not been clearly identified by the IVS, but have an important role in evaluating the sustainability of commercial real estate.

Practical implications

For investors, occupiers and valuers, this research provides insights on how the current, commonly utilised sustainability rating tools align with the IVS-defined ESG metrics. This research assists in providing greater clarity regarding the relationship between ESG criteria and existing rating tools, which have been recently identified as key considerations in valuation practice and help to provide transparency and understanding for property stakeholders.

Originality/value

The importance of monitoring, reporting and enhancing transparency in ESG disclosures has emerged as a central issue with significant implications for the property industry. This research provides the first evaluation of how existing sustainability rating tools map against ESG criteria as directed in the IVS.

Details

Journal of Property Investment & Finance, vol. 42 no. 5
Type: Research Article
ISSN: 1463-578X

Keywords

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