Search results

Amongst the alternative property sectors, student accommodation has recently become an important institutionalised property sector for pension funds and sovereign wealth funds in the global property landscape, particularly in the UK. The purpose of this paper is to assess the significance, risk-adjusted performance and portfolio diversification benefits of student accommodation in a UK property and mixed-asset portfolio over 2011–2017. Drivers and risk factors for the ongoing development of the student accommodation sector are also identified. The question of student accommodation being a proxy for residential property exposure by institutional investors is also assessed.

Using annual total returns, the risk-adjusted performance and portfolio diversification benefits of UK student accommodation over 2011–2017 is assessed. Asset allocation diagrams are used to assess the role of student accommodation in a UK property portfolio and in a UK mixed-asset portfolio for a range of property investor types.

UK student accommodation delivered superior risk-adjusted returns compared to UK property, stocks and REITs over 2011–2017, with portfolio diversification benefits. Importantly, this sees UK student accommodation as strongly contributing to the UK property and mixed-asset portfolios across the entire portfolio risk spectrum and validating the property industry perspective of student accommodation being low risk and providing diversification benefits. Student accommodation is also not seen to be a proxy for residential exposure by institutional investors.

Student accommodation is an alternative property sector that has become increasingly institutionalised in recent years. The results highlight the important role of student accommodation in a UK property portfolio and in a UK mixed-asset portfolio. The strong risk-adjusted performance of UK student accommodation compared to UK property, stocks and REITs over this timeframe sees UK student accommodation contributing to the mixed-asset portfolio across the entire portfolio risk spectrum. This is particularly important, as many investors (e.g. pension funds, sovereign wealth funds) now see student accommodation as an important property sector in their overall portfolio.

This paper is the first published empirical research analysis of the risk-adjusted performance of UK student accommodation, and the role of student accommodation in a UK property portfolio and in a UK mixed-asset portfolio. This research enables empirically validated, more informed and practical property investment decision making regarding the strategic role of student accommodation as an alternative property sector in a portfolio.

The purpose of this paper is to introduce the innovative concept of “envelope within an envelope” as a tool to give redundant timber farm barns (which may be perceived as uneconomic for adaptation) new life for residential purposes. It aims to outline research that is proposed in order to provide guidelines for conservation/preservation professionals, potential user/occupants, investors and developers. It is based upon current problems existing in the Trentino region of Italy and the state of Michigan in the USA.

After explaining the new concept and its potential for solving current conservation/preservation problems, the paper introduces technical and facilities management (FM) goals for research and development. Within the FM goal a series of objectives are outlined giving a broad methodology to consider user needs, costings, and communication needs for raising awareness.

The concept recognizes traditional conservation/preservation interventions capable of extending the life of a structure while at the same time permitting innovative technology to be introduced to provide modern and sustainable accommodation that will be perceived as economically viable.

The concept of “envelope within an envelope” incorporates not only technical elements of conservation/preservation but also behavioural and economic elements arising from the user‐orientated emphasis given by the introduction of an FM framework. This improves on the technocratic solutions that are offered by the “structure within a structure” concept.

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.

Present research on assessing performance of residential buildings is done for specific purposes and not holistically. The indicators, factors and attributes considered for evaluation are not consistent and are broadly based on knowledge base of the author. The purpose of this research is to identify building performance attributes based on user requirement.

With ISO 6241-1984(E) as a basis for universal acceptance, user requirements have been listed and based on these user requirements, related building performance attributes have been identified. End-user satisfaction is of primary importance to gauge performance of a facility. A quantified approach in evaluation of performance of a facility will enable a facility manager to assess the efficacy of the present policies pertaining to operation and maintenance of the facility. It will also provide valuable inputs to policy makers in initiating measures toward the goal of achieving desired user satisfaction. Performance measurement is done to measure the value created by the services, to justify the investment made in creating the facility or to determine if any additional investments are required for improvement of the facility.

In this literature review, an attempt is made to identify user requirements based on an internationally renowned standard ISO 6241-1984 (E), as a base and group building performance attributes on these requirements. The identified attributes are grouped into physical, environmental and external factors for ease of garnering user satisfaction and subsequent flexibility in assessment of data based on requirement of the surveys carried out for evaluation.

The identified list of user requirement-related building performance attributes is limited to government residential buildings. The research needs validation through a full-fledged user satisfaction survey.

It provides a comprehensive list of attributes for assessing performance from physical, environmental and external factors, enabling wholesome assessment of the performance of buildings. Moreover, as a universally accepted document ISO 6241-1984 (E), forms the basis of the paper, its application is not limited to a region.

Lot of research is happening in the field of assessing building performance. User satisfaction by virtue of being difficult to quantify, it has not found much favor till now. This attempt is to furnish a comprehensive list of building performance attributes that will enable a multipurpose survey which will not be based on perception of the researcher but on a universally accepted document. The premise of research is that end-user satisfaction is of primary importance to gauge performance of a facility.

Residential Real Estate Investment Trusts in Japan (residential J-REITs) have become an increasingly significant listed property sector recently. The purpose of this paper is to assess the effectiveness of residential J-REITs in a mixed-asset portfolio context in Japan by assessing the significance, risk-adjusted performance and portfolio diversification benefits of residential J-REITs over July 2006–August 2018. The ongoing property investment implications for residential J-REITs are also identified.

Using monthly total returns, the risk-adjusted performance and portfolio diversification benefits for residential J-REITs over July 2006–August 2018 are assessed. An asset allocation diagram is employed to assess the role of residential J-REITs in a mixed-asset portfolio context in Japan.

Residential J-REITs generally delivered superior risk-adjusted returns compared with the other sub-sector J-REITs, stocks and bonds in Japan over July 2006–August 2018, with desirable portfolio diversification benefits in the full mixed-asset portfolio context. Importantly,residential J-REITs are observed as strongly contributing to the mixed-asset portfolio context in Japan across the portfolio risk spectrum, particularly in a post-GFC context. This also reflects that residential J-REITs provide high portfolio returns and strong portfolio diversification benefits in a mixed-asset portfolio context in Japan.

Residential J-REITs are effective and liquid residential property investment exposure in Japan. The results highlight the strong risk-adjusted performance of residential J-REITs in Japan’s mixed-asset portfolio context. This suggests institutional investors, particularly Japan institutional investors, should consider including residential J-REITs in their mixed-asset portfolios, as residential J-REITs are seen as a compelling investment product co-existing alongside the other sub-sector REITs and major asset classes in institutional investor portfolios in the context of Japan. This also confirms the effectiveness of institutionalised residential J-REITs. Given the solid residential property market fundamentals in Japan, an increased level of the institutionalisation of residential J-REITs can be expected.

The study is the first study to assess the effectiveness of residential J-REITs, via assessing the significance, risk-adjusted performance and portfolio diversification benefits of residential J-REITs and their role in a mixed-asset portfolio context in Japan. This research enables more informed and practical property investment decision making regarding the value-added and strategic role of residential J-REITs as effective and liquid residential property investment exposure in Japan, as well as an increasingly institutionalised property sector going forward.

This study attempts to conduct a post-occupancy assessment of the primary technical, functional and behavioral features in a student housing facility at the Visvesvaraya National Institute of Technology campus in Nagpur, India to see if the students are satisfied with the residential hostel's environs and facilities.

The study reviews knowledge areas pertinent to the technical, functional and behavioral performance of student housing facilities by looking at the body of accessible literature. Even though the literature review gave a thorough overview of the broad issues, it was essential to learn about the situation as it is and addresses the specific issues brought up to undertake a thorough evaluation, just as every in-depth study depends on a reliable methodology. Therefore, a methodology appropriate for the research was developed, which helped in identifying relevant attributes for the questionnaire to be used for the survey. This aided in analyzing the building's performance evaluation through the sole users of the hostel which are the students. The survey data is analyzed by statical methods using SPSS software to identify the key determinants of satisfaction in students' residential hostels and if these are affected by the gender of the students.

The survey results were examined to determine the level of satisfaction with the selected performance aspects, and the major determinants governing it. The findings concluded that most of the technical and functional determinants of satisfaction in hostels are identified the same by both genders, except for some of the attributes in behavioral elements. The research looked at how well key success elements in the student housing facility had been implemented.

Research is carried out in CFTI only wherein architecture is one of the branches.

Planning professionals, architects, housing managers and facility managers involved in the design, construction and management of student housing facilities might benefit from feedback from a post-occupancy evaluation. The post-occupancy study can therefore aid in continually enhancing the standard and effectiveness of the facilities for planning, constructing, managing and maintaining student residential housing.

This paper aims to present findings from an EU-funded international student-led energy saving competition (SAVES) on a scale previously unseen. There are multiple accounts of short-term projects and energy saving competitions encouraging pro-environmental behaviour change amongst students in university dormitories, but the purpose of this research is to provide evidence of consistent and sustained energy savings from student-led energy savings competitions, underpinned by practical action.

A mixed-methods approach (pre- and post-intervention surveys, focus groups and analysis of energy meter data) was used to determine the level of energy savings and quantifiable behaviour change delivered by students across participating university dormitories.

This research has provided further insight into the potential for savings and behaviour change in university dormitories through relatively simple actions. Whilst other interventions have shown greater savings, this project provided consistent savings over two years of 7 per cent across a large number of university dormitories in five countries through simple behaviour changes.

An energy dashboard displaying near a real-time leaderboard was added to the engagement in the second year of the project. Whilst students were optimistic about the role that energy dashboards could play, the evidence is not here to quantify the impact of dashboards. Further research is required to understand the potential of dashboards to contribute to behavioural change savings and in constructing competitions between people and dormitories that are known to each other.

SAVES provided engagement with students, enabling, empowering and motivating them to save energy – focusing specifically on the last stage of the “Awareness, Interest, Desire, Action” framework. Automated meter reading data was used in the majority of participating dormitories to run near real-time energy challenges through an energy dashboard that informed students how much energy they saved compared to a target, and encouraged peer-to-peer learning and international cooperation through a virtual twinning scheme.

Findings from energy saving competitions in universities are typically from small-scale and short-term interventions. SAVES was an energy-saving competition in university dormitories facilitated by the UK National Union of Students in five countries reaching over 50,000 students over two academic years (incorporating dormitories at 17 universities). As such it provides clear and important evidence of the real-world long-term potential efficiency savings of such interventions.

Discusses the changes in UK tax legislation concerning VAT and the property and construction industry, specifically the ruling that the zero rating of certain supplies in the industry was not permitted under EC law. Concludes that knowledge of the new legislation is important to those involved in the property industry, and that it should be studied carefully; although definitions of what may be zero‐rated and what constitutes a new building have clarified most issues.