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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.

Short-term rentals are mainly of small flats, which are offered to tourists. Currently, the providers of short-term rentals, in particular Airbnb (ABB), are being criticized in several German cities, on the grounds that shares of residential flats are being removed from the housing market, due to illegitimate misuse as tourist accommodation. Thus, the conventional urban housing markets are contending with a decline in housing supply and increasing rents. This paper aims to support these findings empirically.

The paper opted first for a spatial analysis with ArcGIS for ABB in Berlin. Second, different online data requests of periods of up to two months were used to analyze the extent of misuse with regard to the Zweckentfremdungsverbot (misuse prohibition law). Third, analysis of variance was used to analyze rental growth on the ABB markets. The data were collected in different approaches from the website of airbnb.com.

The paper provides evidence that 5,555 residential flats are presently being misused by ABB (0.30 per cent of the total housing stock in Berlin) and that many providers of entire flats have more than one offer simultaneously. Moreover, the paper provides the first entire-market overview of ABB in Berlin. It is evident that the ABB market is mainly located centrally and that only a few neighborhoods have large ABB markets. Rental growth is higher in the ABB markets which have a significant share of misused flats, than in the ABB markets which have insignificant shares of misused flats.

To the authors’ best knowledge, the paper provides the first empirical approach regarding misuse through short-term rentals on a housing market with an innovative design and first-hand data.

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.

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.

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.

This paper aims to study the relationship between the rental and selling prices, a very important topic that forms the fundamentals of real estate markets.

This theoretical paper makes use of a search and matching model of the housing market. The search and matching models are the benchmark models of the “matching” markets, such as the labour market and the housing market, where trade is a decentralised, uncoordinated and time-consuming economic activity.

Unlike the previous related literature, where this relation is usually analysed in the context of the present value equation, this paper shows the existence of a “dual” relation between rental and selling prices as follows: one in the homeownership market and another one in the rental market. This “dual” relation connects the rental and homeownership markets and allows to get equilibrium in both markets with positive house prices.

Several topics could be deepened for making the paper richer and more interesting, although at the cost of much more mathematics. First of all, the introduction of specific functional forms for both the rent function and the sale price function, so as to calculate both the elasticity of rent with respect to sale price and the elasticity of sale price with respect to rent. In this way, it would be possible to understand how each market (rental and homeownership) reacts to shock and policies that affect the other market.

In general, this framework could help policymakers to design housing policy reforms that take into consideration the effects on both markets. Indeed, some policies could have positive effects on rental markets but perverse effects on homeownership markets and vice versa.

None of the existing and related works of research have considered how to take advantage of the search and matching approach to derive both a “rent function” and a “sale price function” that connect closely the rental and homeownership markets.

The purpose of this paper is to empirically test for submarket existence based on an understanding of the residential rental housing market in Ghana.

Based on extant literature and market observations, the authors provide key concepts and an overview of the residential rental market dynamics in Ghana. Reseachers appreciate that submarkets may exist in the Ghanaian rental market but have ignored the empirical testing for submarket existence due to data asymmetries. Based on real estate experts and stakeholder consultations, a priori delineation of submarkets are constructed based on spatial, structural and a nested approach. Submarket existence is tested using the Kruskal–Wallis H test and Hedonic modelling techniques.

By using fieldwork data from Accra rental market, the analysis provides credence to the conceptualisation of submarkets and how to empirically test for same. It is argued that researchers should use alternative methods to compare results to make far-reaching conclusions.

Examining the hypothesis that differential rental values exists for submarkets has implications for policy decisions to target submarket constructs differently to improve market maturity.

The research provides stakeholder investors in the rental space an understanding of market dynamics for profit maximisation, and end-users to maximise utility in deciding where to live – and as such households could benefit from making informed investment decisions on housing.

This research is one of the first attempts to empirically identify and test for submarkets existence in Ghana’s residential rental housing market.

Accounting for locational effects in determining price is of fundamental importance. The demise of the mainstream property market has culminated in increasing appetite and investment activity within the private rental sector. The primary purpose of this paper aims to analyse the local variation and spatial heterogeneity in residential rental prices in a large urban market in the UK using various geo-statistical approaches.

Applying achieved price data derived from a leading internet-based rental agency for Belfast Northern Ireland is analysed in a number of spatially based modelling frameworks encompassing more traditional approaches such as hedonic regressive models to more complex spatial filtering methods to estimate rental values as a function of the properties implicit characteristics and spatial measures.

The principal findings show the efficacy of the geographically weighted regression (GWR) technique as it provides increased accuracy in predicting marginal price estimates relative to other spatial techniques. The results reveal complex spatial non-stationarity across the Belfast metropole emphasizing the premise of location in determining and understanding rental market performance. A key finding emanating from the research is that the high level of segmentation across localised pockets of the Belfast market, as a consequence of socio-political conflict and ethno-religious territoriality segregation, requires further analytical insight and model specification in order to understand the exogenous spatial and societal effects/implications for rental value.

This study is one of only a few investigations of spatial residential rent price variation applying the GWR methodology, spatial filtering and other spatial techniques within the confines of a UK housing market. In the context of residential rent prices, the research highlights that a soft segmentation modelling approaches are essential for understanding rental gradients in a polarised ethnocratic city.

The price-to-rent ratio is often regarded as an important indicator for measuring housing market imbalance and inefficiency. A central question is the extent to which house prices and rents form part of the same market and thus whether they respond similarly to parallel stimulus. If they are close proxies dynamically, then this provides valuable market intelligence, particularly where causal relationships are evident. Therefore, this paper aims to examine the relationship between market and rental pricing to uncover the price switching dynamics of residential real estate property types and whether the deviation between market rents and prices are integrated over both the long- and short-term.

This paper uses cointegration, Wald exogeneity tests and Granger causality models to determine the existence, if any, of cointegration and lead-lag relationships between prices and rents within the Belfast property market, as well as the price-to-rent ratios amongst its five main property sub-markets over the time period M4, 2014 to M12 2018.

The findings provide some novel insights in relation to the pricing dynamics within Belfast. Housing and rental prices are cointegrated suggesting that they tend to move in tandem in the long run. It is further evident that in the short-run, the price series Granger-causes that of rents inferring that sales price information unidirectionally diffuse to the rental market. Further, the findings on price-to-rent ratios reveal that the detached sector appears to Granger-cause those of other property types except apartments in both the short- and long-term, suggesting possible spill-over of pricing signals from the top-end to the lower strata of the market.

The importance of understanding the relationship between house prices and rental market performance has gathered momentum. Although the house price-rent ratio is widely used as an indicator of over and undervaluation in the housing market, surprisingly little is known about the theoretical relationship between the price-rent ratio across property types and their respective inter-relationships.

The purpose of this paper is to investigate the nature and dimension of non-compliance (defiance) with lease agreement obligations in private rental housing market between managers (agents/private rental housing providers or landlords) and end-users (tenants – rental housing consumers), with a view to identifying challenges in rental housing lease administration in Nigeria emerging rental market.

The quantitative data collected from practicing estate surveyor and valuers (statutorily registered agents), who manage private rental housing in their portfolios on behalf of owners and tenants, who occupy rental housing within Lagos state (the largest property market in Nigeria and West Africa). Using a theoretical model in the context of five lease agreement obligations, data collected were analyzed using descriptive and inferential statistics (one sample t-test, independent t-test and correlation).

While economic circumstances (economic factors) are considered the major vulnerable factor that cause acts of non-compliance, defiance against “covenant not- to- sublet (subletting covenant (SC))” and “prompt rental payment covenant” are the two most non-compliance attitudes (precipitation events) observed from both actors. There is correlation among all vulnerability elements and precipitating events. While a significant relationship was only observed between “SC” and all vulnerability elements on the part of agents, there is significant relationship among all the vulnerability elements and precipitating events on the part of tenants. Also, while tenants attached higher significance to all the vulnerability factors than managers, both actors attached different level of priority to precipitating events. Lastly, equitable remedies and peaceful entry are the two most adopted intervention tools.

This paper is limited to seeking both the professional opinion of licensed/registered agents and the rental housing consumers-tenants.

The research points to an increasing need for the stakeholders – Estate Surveyors and Valuers Registration Board of Nigeria (a Government parastatal) and the Nigerian Institutions of Estate Surveyors and Valuers (the constituted professional body), to establish and reform the code of practice in this direction with due consideration to the factors identified in this study. Effort also should be upgraded in the intervention techniques adopted in order to improve on emerging rental market.

The paper explores an important aspect of lease administration in private rental housing market. It also provides platform on which the acts of defiance can be wiped out in the emerging rental market.