Search results

This study aims to explore the impact of decentralized long-term rental apartments on the value of in-community housing from two perspectives of housing price and rent.

This study uses the hedonic model to identify the factors affecting the housing value, and the influence of distributed long-rented apartments on the housing value in the community is analyzed from two aspects of housing price and rent by using the ordinary least square method and propensity score matching method.

The primary finding indicates that decentralized long-term rental apartments increase housing prices while decreasing general rental housing rents in the community, with the average degree of increase ranging from 0.93% to 2.59% and the average degree of decrease ranging from 2.23% to 4.34%. According to additional research, the prices of houses within communities rise by 0.042% for every 1% increase in the share of decentralized long-term rentals, while the rents for other types of rental property fall by 0.162%.

The government can regulate the housing market by regulating the access and layout of distributed long-rent apartments.

The findings of this study indicate that the existence and share of distributed long-rent apartments have a heterogeneous impact on the housing price and rent in the community, respectively.

This study aims to investigate the relationship between market share and rent levels to understand the supply structure in the Japanese private rental housing market.

The study calculates the municipal-level market share of a dominant rental housing operator in Japan and ascertained the overall market rent and the dominant operator’s rent premium at the municipal level by using a major web portal’s listing data of rental houses.

The study shows that, as market share increased, overall market rent tends to decrease, and analyzed by market share, there is no significant difference between the rent of the dominant operator and the overall market rent.

The results of the study suggest that dominant operators may have lowered the rent of their own property to prioritize filling vacancies, which, in turn, causes the overall level of market rent to decline. This is an outcome of rental housing operators’ strategy to maximize long-term rental income under sublease contracts with individual owners, which ensures stable rental income for owners regardless of the occupation status of the apartments.

Previous research on regional monopolies in mortgage sales and brokerage businesses in the USA implies that rental housing operators in a position of great influence over the market can control and keep the market rents at high levels, that is, at large costs for consumers. The findings of the study are novel in showing the inverse relationship in the Japanese private rental market.

The sharing economy has enjoyed rapid growth in recent years, and entered many traditional industries such as accommodation, transportation and lending. Although researchers in information systems and marketing have attempted to examine the impacts of the sharing economy on traditional businesses, they have not yet studied the rental housing market. Thus, this research aims to investigate the impact of the sharing economy (i.e. home-sharing) on traditional businesses (i.e. rental housing market).

The authors assemble rich data from multiple sources about the entry of a leading Chinese home-sharing platform (i.e. Xiaozhu.com) and local housing rental price index. Then, econometric models (i.e. linear panel-level data models) are employed for empirical investigation. Instrumental variables are used to account for potential endogeneity issues. Various robustness checks are adopted to establish the consistency of the findings.

Overall, the estimation results show that the entry of a home-sharing platform will decrease the local housing rental price. Moreover, this impact would be strengthened in a more developed city. Additionally, this impact would be strengthened with higher prices of new houses or second-hand houses.

First, this research is one of the first to study the impact of the sharing economy (i.e. home-sharing) on traditional markets (i.e. housing rentals). Second, it contributes to the relevant literature by documenting that the impact of a platform's entry is not uniform but contingent on city and housing market characteristics. Third, practically, the findings also offer important implications for platform operators and policy makers.

The purpose of this paper is to examine housing speculation in Auckland, New Zealand, the second most unaffordable market in the world.

The study considers rental property purchases from 2002 to 2016 within the Auckland region. The authors apply a simple cash flow model that emulates the before-tax investment calculations used during purchasers’ due diligence. From this model, the authors determine whether purchases involved speculation on capital gains or not and the authors estimate the degree of speculation at the transaction level.

The authors find that housing speculation in Auckland is endemic and its housing market is a politically condoned, finance-fuelled casino with investors broadly betting on tax-free capital gains.

Although political leaders have decried that the “speculation-driven housing bubble in Auckland is a social and economic disaster”, the government’s main anti-speculation tool – the Income Tax Act’s intention test – sits idle and inoperable. By holstering this key policy tool, politicians foster housing speculation and use residential property investment to buttress New Zealand’s asset-based welfare system.

The authors develop novel methods to objectively distinguish speculators from genuine investors, measure the speculative pressure applied by individual rental property purchasers and outline an evidence-based approach to operationalise New Zealand’s currently impotent anti-speculation tool, the intention test.

This paper aims to construct rental housing indices and identify market segmentation for more effective property-management strategies.

The hedonic model was employed to construct the rental indices. Using the k-means++ and REDCAP (Regionalisation with Dynamically Constrained Agglomerative Clustering and Partitioning) approaches, the authors conducted clustering analysis and identified different market segmentation. The empirical study relied on the database of 80,212 actual rental transactions in Beijing, China, spanning 2016–2018.

Rental housing market segmentation may distribute across administrative boundaries. Properly segmented indices could provide a better account for the heterogeneity and spatial continuity of rental housing and as well be crucial for effective property management.

Residential rent might not only vary over space but also interplays with housing price. It would be worth studying how the rental market functions together with the owner-occupied sector in the future.

Residential rental indices are of great importance for policymakers to be able to evaluate housing policies and for property managers to implement competitive strategies in the rental market. Their constructions largely depend on the analysis of market segmentation, a trade-off between housing spatial heterogeneity and continuity.

This paper fills the gap in knowledge concerning segmented rental indices construction, particularly in China. The spatial constrained clustering approach (REDCAP) was also initially introduced to identify regionalised market segmentation due to its superior performance.

This research examines the effects of health, location, and other factors on receipt of wage income for young heads of households, aged 19 to 25, who lived in HUD-assisted housing and in other rental housing in 2011.

This chapter reports results of analyses of the 2011 American Housing Survey, merged with HUD administrative records, available as a public-use file at the U.S. Census Bureau.

Nineteen percent of young householders in assisted housing and 8% in other rental housing reported less than good health or a disability. Nearly two-thirds of young householders in assisted housing reported receipt of earned income. For respondents in assisted housing who reported good health and no disabilities, logistic regression models suggest that educational attainment beyond a high school diploma, more than one adult in the household, and living in metropolitan areas in the Midwest or West census regions were positively and statistically significant for receipt of earned income. For respondents in both assisted and other rental housing who reported less than good health and/or disabilities, residence in assisted housing or educational attainment beyond a high school diploma were positively associated with receipt of earned income, while residence in the metropolitan South lowered the odds of receipt of earned income.

Success of self-sufficiency programs will depend on accommodating the imperatives created by health, disability, and structural impediments created by a market economy.

This is the first analysis of health/disability and other barriers to paid employment that accurately identifies a nationally representative sample of young Millennials in HUD-assisted and other rental housing.

The study had examined the dynamism in rental housing characteristic in Ile-Ife, Nigeria.

Data were collected through questionnaire administration on 550 tenants selected across high, medium and low density areas, using systematic random sampling.

Findings revealed that rented apartments in the traditional town are built with modern materials like sandcrete blocks, cement, corrugated roofing sheet and aluminium. Further findings revealed a statistical significant variation in the rental housing typologies across the residential densities (χ² = 94.732^a, df = 10 and p = 0.000). The dominant housing typology in the low income earners areas is rooming apartments known traditionally as (face-to-face), in the middle income earners areas detached and semi-detached bungalows (Mini, 2bedroms and 3 bedrooms flat); and lastly, bungalows and duplexes dominates the high income earners areas. Therefore, the study likened the variation across the income areas to deferential in socioeconomic characteristics of tenants, surroundings peculiarities and the landlord and tenant relationships.

The outcome of this study could strengthen policies in creating design standards for construction of housing for renters; this is step towards achieving Sustainable Development Goal (SDG) 11, creating an inclusive communities.

This paper aims to describe the outcome of a research program carried out by the Austrian IIBW to support the Romanian Government in redesigning its national housing law in order to cope with specific problems on the Romanian housing market, such as the absence of tenure choice and affordable and tenure‐secure rental housing.

Specific housing problems and requirements of legal changes were identified by policy makers and in previous studies. Solutions are provided by an international team of experts with the target to include European best practice concerning rental and limited‐profit rental law.

This paper concentrates on three major topics within the restructuring of the Romanian housing law that permit integrating European best practice in the field of housing policy. First, Romanian rental housing legislation is reconsidered and a market‐based relative price control based on the German experience and on written contracts is proposed. Second, a new public‐private‐partnership (PPP) housing law, building on the framework of PPP social housing providers in Europe, and especially Austria, is considered. A rigid frame of checks and balances and public compensation of social service obligations are core elements. Third, special attention is paid to the compliance of proposed measures with European Union legislation on competition, which is of major importance for any legal recommendations to be applicable.

The proposed legal changes are designed to foster the development of a functional long‐term private and social rental market in order to meet the housing needs of the Romanian population.

The overarching research program this paper builds on was commissioned by the Romanian Government and was intended to address specific and current problems on the Romanian housing market.

The purpose of this paper is to re‐appraise the role of the private renting in the housing system drawing on a review of public policies toward the sector in six countries. It re‐examines the adequacy of explanations about tenurial “competition” and the dynamics of tenurial change using a cross disciplinary perspective.

The paper critiques key explanations on the nature and type of competition between housing tenures, notably dual and unitary models, and the role of private renting in explanations of tenure dynamics. The paper also explores some of these ideas empirically by examining the changing role of the private renting relative to other tenures in a number of European countries and in Australia.

The paper expresses doubts about the potential for unitary markets to develop/continue as integrated markets because of the fundamental problems about ensuring continuing investment in the private rented sector and constraints on the maturation process, particularly where ownership of rental housing is diverse and small‐scale. The analysis suggests that housing tenures are quite fluid and with a general trend towards deregulation of private rents there is a blurring of the distinction between different types of rental systems.

The analysis suggests that it is critical to understand changes in private renting taking into account broader economic conditions, trade‐offs about housing consumption and investment, and public policy settings.

The analysis draws out theoretically, and explores empirically, the process of change in tenure relations by for the first time focusing on the role of private renting in these dynamics.

Rental housing is an important form of accommodation; evaluating its quality will improve the quality of designs, standard living of renters, new dimension to policy guiding rental housing and enhance the values of rental houses. This study aims to examine the factors influencing rental housing quality in Ile-Ife, Nigeria.

Multi-stage sampling procedure was used to select tenants for the study. Residential areas were stratified into three densities: high, medium and low. Out of the 18 residential areas identified, six, eight and four were in the high, medium and low densities, respectively. Five residential areas were selected based on high concentrations of rental housing. The selected areas are Mokuro and Iloro (high density), Ife City and Eleyele (medium density) and Aladanla (low density). Systematic sampling technique was used to select 550 buildings where an adult tenant was selected per building for questionnaire administration.

The results of the principal component analysis established that four factors were generated for the high-density, nine factors for the medium-density and five factors for low-density areas as the major factors influencing rental housing quality. The variation in the number of factors generated and the percentage variance explained by the factors could be associated to the peculiarities across the densities in terms of the socioeconomic characteristics and housing characteristics of the renters.

This study examined the factors influencing housing quality for renters in Ile-Ife, Nigeria. It provides information on the three residential densities in terms of the variation in their housing morphology. The study went further to establish the relationship among the three musketeers such as socioeconomic characteristic of renters, housing characteristics and housing quality, under three dimensions environmental, internal building and external Building. Therefore, the contribution of this study strengthens the position that a minimum standard and schedule of upgrade and maintenance should be meted out for landlords to carry out repairs at interval, so as to make the housing unit and environment habitable for tenants.