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Article
Publication date: 1 October 2002

Kenneth V. Henderson and Lary B. Cowart

The real estate industry is an e‐commerce anomaly. Although the overall growth of ecommerce is driven by the business‐to‐business sector, the majority of real estate e‐commerce is…

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Abstract

The real estate industry is an e‐commerce anomaly. Although the overall growth of ecommerce is driven by the business‐to‐business sector, the majority of real estate e‐commerce is derived from its retail‐oriented residential sector. This study examines the structure of residential and commercial real estate websites, with the goal of determining whether some patterns of content might increase the quality and quantity of information available to buyers and sellers thereby contributing to the disparity between residential and commercial real estate e‐commerce growth. The results of the research show residential real estate websites offer richer informational content than commercial real estate websites. No significant differences are found for the user friendliness and functionality (ie ancillary services) provided by residential and commercial real estate websites.

Details

Journal of Corporate Real Estate, vol. 4 no. 4
Type: Research Article
ISSN: 1463-001X

Keywords

Article
Publication date: 14 June 2019

Tanu Aggarwal and Priya Solomon

The purpose of this paper is to examine the impact of residential and commercial loans on total real estate sector loans by using partial least square–structured equation…

Abstract

Purpose

The purpose of this paper is to examine the impact of residential and commercial loans on total real estate sector loans by using partial least square–structured equation modelling (PL–SEM) method. The residential loans as a mediator have been used to know the mediation effect between commercial and total real estate loans of banks in India. The residential loans as a mediator govern the relationship between commercial loans and total real estate loans in India. Real estate sector development is a lucrative opportunity for India. The real estate sector plays a major role in shaping economic conditions of the individuals, firms and family.

Design/methodology/approach

The research is descriptive in nature. The study on residential loans, commercial loans and total real estate loans has been taken into consideration, and on the other hand the measurement and structural model have been employed to the study the impact of residential loans and commercial loans on total real estate loans in India by using PL–SEM. The residential loans as a mediator have been taken to study the mediation effect of the relationship between commercial loans and total real estate loans in India.

Findings

The outcome of the structural model that is bootstrapping technique shows that there is an impact of residential and commercial loans by public and private sector banks on total real estate sector development in India. The residential loans show the full mediation effect between commercial loans and total real estate loans as the value of variation accounted for (VAF) is more than 1.93 which shows residential loans govern the nature of variable between commercial loans and total real estate loans.

Practical implications

The public and private sector banks are contributing to the real estate sector development in India which increases the economic growth of the country. The mediation analysis shows that residential loans are an important aspect between commercial and total real estate loans in India as the demand for residential housing is more in India. The increasing role of banks in the real estate sector strengthens the financial capability in the real estate sector market, and the property buyers will able to purchase more property which leads to increasing demand for real estate sector.

Originality/value

The research paper is original, and PL–SEM has been used to find the results.

Details

Journal of Property Investment & Finance, vol. 37 no. 5
Type: Research Article
ISSN: 1463-578X

Keywords

Article
Publication date: 22 March 2022

N. Kundan Kishor

This study aims to know to what extent do the commercial and residential estate markets move together in different economies? Do the shocks originating in one of these markets…

Abstract

Purpose

This study aims to know to what extent do the commercial and residential estate markets move together in different economies? Do the shocks originating in one of these markets spillover to the other markets?

Design/methodology/approach

The authors apply a modified version of the dynamic factor model to commercial and residential real estate prices in the Euro area, Hong Kong, Singapore and the USA. This modified dynamic factor model decomposes price growth in these two real estate markets into common, spillover and idiosyncratic components.

Findings

The results show significant heterogeneity in the relative importance of different components in the evolution of commercial and residential price growth across different economies. The findings suggest that the spillover from the residential to commercial real estate market dominates the spillover from the commercial to real estate market for all the economies in our sample. The authors also find that the common component accounts for a large fraction of the price movements in the residential markets in the European Union (EU) area and the USA, whereas spillover and common components together explain more than two-thirds of the variations in Hong Kong and Singapore. The results suggest that the role of spillover from one market to another increased significantly during the financial crisis of 2008–2009.

Originality/value

This paper contributes to the existing literature on how the transmission of shocks takes place across commercial and residential real estate markets. The transmission of shocks can take place in two directions in the proposed framework. There may be a direct spillover from a shock from one market to another. This corresponds to a shock to the idiosyncratic component affecting the other idiosyncratic component. In this paper, the authors are mainly interested in indirect spillover where the shock would transmit from the idiosyncratic factor to the common factor, and then from the common factor to the other idiosyncratic factor.

Details

Journal of European Real Estate Research, vol. 15 no. 3
Type: Research Article
ISSN: 1753-9269

Keywords

Article
Publication date: 9 February 2015

Namrata Bhattacharya Mis, Rotimi Joseph, David Proverbs and Jessica Lamond

This study aims to investigate the level of preparedness among property owners who had experienced flood damage to their properties in two cities in England following the summer…

Abstract

Purpose

This study aims to investigate the level of preparedness among property owners who had experienced flood damage to their properties in two cities in England following the summer floods of 2007. Flooding can have a variety of impacts on residential properties and businesses that may be unprepared and therefore vulnerable to both direct and indirect effects. Research suggests that the focus in analysis of damage to flood plain population (residential and commercial) tends to be on the direct tangible impacts, limiting their ability to recognize the true costs of flooding, thereby leading to unpreparedness to future flooding. Greater understanding of the level of preparedness against different types of flood impacts is likely to contribute towards increased knowledge of the likely resilience of residential and commercial property occupiers.

Design/methodology/approach

Primary data obtained through self-administered postal questionnaire survey of floodplain residential and commercial residents provide the basis for the research analysis and findings. The rationale behind choosing the locations for the research was based on the need to investigate areas where a sizeable number of residential and commercial properties were affected during the 2007 event, in this case, Sheffield and Wakefield in the northern part of England were chosen. The data collected were subjected to descriptive statistical analysis.

Findings

The result of the analysis revealed that non-structural measures have been implemented by more people when compared to other measures, which can be linked to the fact that non-structural measures, in most, cases do not have financial implication to the property owners. The uptake of the other measures (resistance and resilience) is very low. It can be concluded from the findings that the level of implementation of measures to reduce damage from potential future flooding among the flood plain residents is relatively low and mainly focussed towards reducing the direct effects of flooding.

Practical implications

The study argues that increased resilience can be sustainable only by developing integrated attitude towards risk reduction not only by enhancing coping strategy by reducing direct impacts of flooding but also equally focussing on indirect effects.

Originality/value

There have been previous studies towards investigating the impacts of flooding on residential and commercial property owners as a separate entity. It is believed that this is the first time in which both residential and commercial properties will be investigated together as one body of research.

Details

International Journal of Disaster Resilience in the Built Environment, vol. 6 no. 1
Type: Research Article
ISSN: 1759-5908

Keywords

Article
Publication date: 7 April 2023

Changjun Jiang

Land transactions are a key indicator of urban sustainable development and urban space expansion. Therefore, this paper aims to study the spatial correlation of different types of…

Abstract

Purpose

Land transactions are a key indicator of urban sustainable development and urban space expansion. Therefore, this paper aims to study the spatial correlation of different types of land transactions.

Design/methodology/approach

Based on the big data of land micro transactions in Yangtze River Delta urban agglomeration, this paper uses the generalized forecast error variance decomposition (GFEVD) method to measure the correlation level of urban land markets. Also, social network analysis (SNA) is used to describe spatial correlation network characteristics of an urban agglomeration land market. In the meantime, the factors that influence the spatial correlation of urban land markets are investigated through a quadratic assignment procedure (QAP).

Findings

The price growth rate of urban residential land was higher than that of industrial land and commercial land. The spatial relevance of urban residential land is the highest, while the spatial relevance of the urban commercial land market is the lowest. The urban industrial land market, commercial land market and residential land market all present a typical network structure. Population distance (POD) and Engel coefficient distance (EGD) are negatively correlated with the correlation degree of the urban residential land network; traffic distance (TRD) and economic distance (ECD) are negatively correlated with the correlation degree of the urban industrial land network and commercial land network.

Originality/value

This paper uses a systematically-integrated series of problem-solving models to better explain the development path of urban land markets and to realize the integration of the interdisciplinary methods of geography, statistics and big data analysis.

Details

Kybernetes, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0368-492X

Keywords

Article
Publication date: 17 July 2017

Chihiro Shimizu

The purpose of this paper is to decompose and measure the microstructure of property investment returns for Tokyo’s residential property markets in as much detail as possible in…

Abstract

Purpose

The purpose of this paper is to decompose and measure the microstructure of property investment returns for Tokyo’s residential property markets in as much detail as possible in comparison with office market.

Design/methodology/approach

Using enterprise value data for property investment trust companies composed of share prices available on capital markets, this study proposed a method of estimating property investment returns corresponding to changes in capital markets, and clarified the distortion in capitalization rate that are formed based on property appraisal prices.

Findings

The results for residential property showed that as building floor space increased, income and price increased while the discount rate decreased. In particular, a higher return could be obtained from office property than residential property by investing in larger-scale properties. Building age lowered asset price and income for both residential and office property, especially for residential property.

Research limitations/implications

In Japan, investors believe that investment returns are high for properties close to the city centre, relatively new properties and those with large design or floor space. Therefore, this study first measured how asset prices, income and asset price–income ratios that comprise property investment returns change based on differences in these property characteristics. Second, the reliability/distortion of information that can be observed on the property investment market was measured. Furthermore, there was a significant divergence between discount rates and risk premiums formed by asset or space markets versus capital markets.

Practical implications

The differences of discount rate and risk premium formed by asset markets versus capital markets indicate that appraisal prices have biases. Thus, when it comes to property investment decisions, it is essential to make active use not just of property investment returns based on appraisal prices formed by asset markets but also information formed by capital markets.

Social implications

A greater difference was generated in a shrinking market, suggesting that analysing property returns estimated on asset market information alone could lead to erroneous investment decisions.

Originality/value

This research is the first to use the enterprise value data from real estate investment trust companies composed of share prices available on capital markets for calculating discount rate and risk premium in property market.

Details

International Journal of Housing Markets and Analysis, vol. 10 no. 4
Type: Research Article
ISSN: 1753-8270

Keywords

Article
Publication date: 7 November 2016

Hesam Nazari and Aliyeh Kazemi

This paper aims to select the best scenario for energy demand forecast of residential and commercial sectors in Iran by using particle swarm optimization algorithm.

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Abstract

Purpose

This paper aims to select the best scenario for energy demand forecast of residential and commercial sectors in Iran by using particle swarm optimization algorithm.

Design/methodology/approach

In this study, using variables affecting energy demand of residential and commercial sectors in Iran, the future status of energy demand in these sectors is predicted. Using the particle swarm optimization algorithm, both linear and exponential forms of energy demand equations were studied under 72 different scenarios with various variables. The data from 1968 to 2011 were applied for model development and the appropriate scenario choice.

Findings

An exponential model with inputs including total value added minus that of the oil sector, value of made buildings, total number of households and consumer energy price index is the most suitable model. Finally, energy demand of residential and commercial sectors is estimated up to the year 2032. Results show that the energy demand of the sectors will achieve a level of about 1,718 million barrels of oil equivalent per year by 2032.

Originality/value

To the best of our knowledge in this study a suitable model is selected for energy demand forecast of residential and commercial sectors by evaluation of various models with different variables as inputs.

Details

International Journal of Energy Sector Management, vol. 10 no. 4
Type: Research Article
ISSN: 1750-6220

Keywords

Article
Publication date: 1 June 2005

Anf H. Ziadat and Henry Mott

The commercial and residential refuse generated by Ellsworth Air Force Base, USA was characterized and analyzed for collection procedures, and the opportunities for increasing the…

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Abstract

Purpose

The commercial and residential refuse generated by Ellsworth Air Force Base, USA was characterized and analyzed for collection procedures, and the opportunities for increasing the amount of solid waste that could be recycled were evaluated.

Design/methodology/approach

Random loads of hauled solid waste (an average 3.0 US tons/load) from different waste streams of Ellsworth Air Force Base were sorted. The weight fraction of each category of recyclable material derived from the hand sorting operations was applied to the three years of mixed waste tonnage in order to estimate the tonnage of each recyclable category disposed of as refuse during each year. The assessment of the data obtained from three full calendar years focused on the mixed solid waste generated from commercial and residential areas such as offices, childcare, lodging, supermarkets, food service facilities, and others.

Findings

Over 2,500 tones of recycling opportunities were missed during the 1999‐2001 calendar years. The characterizations of the total weight produced from commercial and residential waste streams showed that recyclable material constituted 35.95 percent and 23.27 percent of refuse from the commercial and the residential areas, respectively. The amounts of total recyclable material as missed opportunities for recycling were found to be 1,728 tons and 715 tons from the commercial and residential areas.

Practical implications

In response to the findings, Ellsworth Air Force Base has implemented a number of strategies for increased recovery of recyclables from its solid waste streams.

Originality/value

Quantifying missed opportunities for recycling is a useful action in planning future recycling operations aimed at best solid waste management practices.

Details

Management of Environmental Quality: An International Journal, vol. 16 no. 3
Type: Research Article
ISSN: 1477-7835

Keywords

Abstract

Details

Hyogo Framework for Action and Urban Disaster Resilience
Type: Book
ISBN: 978-1-78350-927-0

Article
Publication date: 8 February 2011

Andrew Holt, Timothy Eccles and Kellie Bennett

The purpose of this paper is to examine the issue of compliance with a voluntary professional Code of Practice. It aims to take service charge management as its subject and it…

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Abstract

Purpose

The purpose of this paper is to examine the issue of compliance with a voluntary professional Code of Practice. It aims to take service charge management as its subject and it also to discuss how current notions of “best practice” have evolved in order to explain the poor performance uncovered. From this it seeks to derive an alternative perspective and develop a new framework for managing agents to consider utilising in order to advance the generalised principles within the existing RICS Code of Practice, Service Charges in Commercial Property.

Design/methodology/approach

The paper applies an inductive reasoning by applying best practice from other disciplines (the specific) to commercial property (hence arguing for their adoption to the general). It utilises a critical review of the secondary literature on the wider aspects of best practice and original data on commercial service charge management to devise an ideal type framework for accounting for service charge moneys.

Findings

It provides an idealised conceptual framework for managing agents to consider applying to their management of the service charge process, specifically with regard to accounting issues therein. The paper is not proposing a definitive adoption of accruals accounting, but provides an analysis of the potential advantages – and problems. The intention of this work is to drive consultation for better practice, rather than provide a de facto template for adoption.

Originality/value

The work relies on data previously generated by the authors, and produces an original template and example for the practitioner. The work's primary value is that it proposes an innovative approach to the occupation of the commercial service charge manager. Within this, it also offers advice to the wider profession on how to better regulate the discipline. While the proposed approach offers advantages over the existing best practice paradigm, it generates its own conceptual problems that will need to be considered by professionals.

Details

Property Management, vol. 29 no. 1
Type: Research Article
ISSN: 0263-7472

Keywords

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