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Article
Publication date: 22 August 2023

Umar Saba Dangana and Namnso Bassey Udoekanem

The rising concern for the accuracy of residential valuations in Nigeria has created the need for key stakeholders in the residential property markets in the study areas to know…

Abstract

Purpose

The rising concern for the accuracy of residential valuations in Nigeria has created the need for key stakeholders in the residential property markets in the study areas to know the level of accuracy of valuations in order to make rational residential property transactions, amongst other purposes.

Design/methodology/approach

A blend of descriptive and causal designs was adopted for the study. Data were collected via structured questionnaire administered to 179 estate surveying and valuation (ESV) firms in the study areas using census sampling technique. Analytical techniques such as median percentage error (PE), mean and relative importance index (RII) analysis were employed in the analysis of data collected for the study.

Findings

The study found that valuation accuracy is greater in the residential property market in Abuja than in Minna, with inappropriate valuation methodology as the most significant cause of valuation inaccuracy.

Practical implications

The practical implication of this study is that a reliable databank should be established for the property market to provide credible transaction data for valuers to conduct accurate valuations in these cities. Strict enforcement of national and international valuation standards by the regulatory authorities as well as retraining of valuers on appropriate application of valuation approaches and methods are the recommended corrective measures.

Originality/value

No study has comparatively examined the accuracy of valuations in two extremely different residential property markets in the country using actual valuation and transaction prices.

Details

Property Management, vol. 42 no. 2
Type: Research Article
ISSN: 0263-7472

Keywords

Article
Publication date: 25 April 2024

Abdul-Manan Sadick, Argaw Gurmu and Chathuri Gunarathna

Developing a reliable cost estimate at the early stage of construction projects is challenging due to inadequate project information. Most of the information during this stage is…

Abstract

Purpose

Developing a reliable cost estimate at the early stage of construction projects is challenging due to inadequate project information. Most of the information during this stage is qualitative, posing additional challenges to achieving accurate cost estimates. Additionally, there is a lack of tools that use qualitative project information and forecast the budgets required for project completion. This research, therefore, aims to develop a model for setting project budgets (excluding land) during the pre-conceptual stage of residential buildings, where project information is mainly qualitative.

Design/methodology/approach

Due to the qualitative nature of project information at the pre-conception stage, a natural language processing model, DistilBERT (Distilled Bidirectional Encoder Representations from Transformers), was trained to predict the cost range of residential buildings at the pre-conception stage. The training and evaluation data included 63,899 building permit activity records (2021–2022) from the Victorian State Building Authority, Australia. The input data comprised the project description of each record, which included project location and basic material types (floor, frame, roofing, and external wall).

Findings

This research designed a novel tool for predicting the project budget based on preliminary project information. The model achieved 79% accuracy in classifying residential buildings into three cost_classes ($100,000-$300,000, $300,000-$500,000, $500,000-$1,200,000) and F1-scores of 0.85, 0.73, and 0.74, respectively. Additionally, the results show that the model learnt the contextual relationship between qualitative data like project location and cost.

Research limitations/implications

The current model was developed using data from Victoria state in Australia; hence, it would not return relevant outcomes for other contexts. However, future studies can adopt the methods to develop similar models for their context.

Originality/value

This research is the first to leverage a deep learning model, DistilBERT, for cost estimation at the pre-conception stage using basic project information like location and material types. Therefore, the model would contribute to overcoming data limitations for cost estimation at the pre-conception stage. Residential building stakeholders, like clients, designers, and estimators, can use the model to forecast the project budget at the pre-conception stage to facilitate decision-making.

Details

Engineering, Construction and Architectural Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0969-9988

Keywords

Article
Publication date: 12 December 2023

Irene Naliaka Cheloti and Manya Mainza Mooya

This paper examines the effects and root causes of client influence within the valuation profession in Kenya.

Abstract

Purpose

This paper examines the effects and root causes of client influence within the valuation profession in Kenya.

Design/methodology/approach

This study adopted a mixed research design incorporating a survey and experiment of registered and practising valuers in Kenya and interviews of key informants from registered and practising valuers, valuers' clients (commercial banks) and professional bodies.

Findings

The study found that client influence negatively impacts the valuation profession, contributing to inaccurate valuation outcomes, and it exists because of the valuation environment, represented by limited and unreliable information in Kenya and many other developing countries.

Originality/value

This study makes a critical contribution to the empirical literature as it introduces new insights into the impacts and causes of client influence by demonstrating how the valuation environment, characterised by poor information, contributes to client influence in Kenya, which is typical of many other developing countries.

Details

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

Keywords

Article
Publication date: 5 August 2022

Yan Ning and Florence Yean Yng Ling

Project managers rely on control strategies to deliver excellent outputs. However, little is known about how clients' project managers select control strategies in projects which…

Abstract

Purpose

Project managers rely on control strategies to deliver excellent outputs. However, little is known about how clients' project managers select control strategies in projects which are knowledge-intensive and have intangible outputs. This study aims to examine how clients' project managers select project control strategies in professional service projects.

Design/methodology/approach

A questionnaire survey of 360 architectural and engineering (A/E) design projects was adopted. Data were analyzed through the hierarchical regression.

Findings

Both clients' knowledge of measuring outcomes and process uncertainty give rise to their project managers setting up behavior and social controls. Level of process uncertainty positively moderates the impact of client's knowledge of measuring outcomes on outcome control.

Research limitations/implications

This study mainly examined the client's knowledge of measuring outcomes and process uncertainties. Future studies could be conducted to expand the scope by including other contextual factors, for instance market and regulatory factors.

Practical implications

From the client side, if they want to simultaneously adopt outcome, behavior and social controls, they would need to increase their knowledge of measuring outcomes by adopting established assessment tools or appointing a third party to assist in design outcome evaluation.

Originality/value

This study contributes to the body of knowledge by showing that the level of intangibility of project outputs influences the types of control system which project managers adopt.

Details

Engineering, Construction and Architectural Management, vol. 30 no. 10
Type: Research Article
ISSN: 0969-9988

Keywords

Article
Publication date: 2 October 2023

Abhijat Arun Abhyankar, Anand Prakash and Harish Kumar Singla

This study aims to examine whether or not residential properties closer to landfill sites have lower offer values by the developers. That is, by analyzing real estate data and…

Abstract

Purpose

This study aims to examine whether or not residential properties closer to landfill sites have lower offer values by the developers. That is, by analyzing real estate data and landfill site locations, the study seeks to provide insights into whether properties situated closer to landfill sites tend to have a lower offer values than those located farther away.

Design/methodology/approach

The study is exploratory in nature, and a case study approach is applied. A landfill site named “Uruli Devachi” is selected in the region of Pune district, and data is collected from 102 developers selling residential projects within a radius of 15 km (about 9.32 mi). The gathered data is analyzed by using basic descriptive statistics, one-way ANOVA and ordinary least squares (OLS) regression. The OLS regression helps to determine whether there is a relationship between the distance of a residential property from a landfill site and its offer value.

Findings

The findings suggest that landfill sites have a detrimental impact on residential property offer values, with the negative impact increasing with proximity to a landfill site. The negative effect seems to vanish after over 10 km (about 6.21 mi). The developers provide extra facilities including a clubhouse, a children’s play area, a gym and a swimming pool in an effort to mitigate the negative effects of the landfill site on residential properties.

Practical implications

The findings of this study could have implications for property developers, real estate professionals and policymakers in understanding how landfill proximity might impact property offer values.

Originality/value

This study presents many novelties for the Indian housing market: the landfill sites do have a negative effect on the offer value of residential property; the closer the residential property to a landfill site, the higher the negative effect. Further, the developers try and mitigate the negative effect of landfill sites on residential properties by providing additional amenities such as a clubhouse, children’s play park, gym and swimming pool.

Details

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

Keywords

Article
Publication date: 4 October 2022

Audrey Mertens, Yaprak Hamarat and Catherine Elsen

This research focuses on the interactions between architects and end-users during the design process of housing projects, both experiencing challenges and friction points when…

Abstract

Purpose

This research focuses on the interactions between architects and end-users during the design process of housing projects, both experiencing challenges and friction points when meeting.

Design/methodology/approach

The authors conducted a systematic literature review (SLR), based on and adapted from Kitchenham and Charters' work (2007). The thematic analysis of N = 104 identified articles reveals 13 main themes and 30 subthemes specific to architects, end-users and the interactions of architects and end-users, and 3 main groups of other actors intervening in these dynamics. The authors organize the data by actors and the actors' social encounters, themes and subthemes. The authors focus on some aspects, given possible evolution of practices.

Findings

The authors question the role of architects and the ways both parties share respective knowledge. The authors also discuss the various scales of social encounters depicted through literature, from traditional discursive meetings to participatory practices, and raise the lack of convincing tools genuinely used in current housing architecture practices. Finally, the authors point out the need for further field research in order to practically bridge the gap between researchers and practitioners.

Originality/value

The authors present an overview of the most relevant papers, organized in a table and grouped by themes. This represents a major output of this SLR, and gives the concerned readers the opportunity to get a grasp on readers' sub/theme of interest.

Details

Archnet-IJAR: International Journal of Architectural Research, vol. 17 no. 4
Type: Research Article
ISSN: 2631-6862

Keywords

Article
Publication date: 28 November 2023

Salman Shooshtarian, Tayyab Maqsood, Peter S.P. Wong, Savindi Caldera, Tim Ryley, Atiq Zaman and Ana María Cáceres Ruiz

The utilisation of products with recycled content (PwRC) in construction projects has been identified as a targeted way to achieve sustainable management of construction and…

Abstract

Purpose

The utilisation of products with recycled content (PwRC) in construction projects has been identified as a targeted way to achieve sustainable management of construction and demolition waste resources. However, sustainable applications of these resources are subject to a wide array of factors that demand a thorough investigation. This study, therefore, explores the motivations, barriers and strategies for optimal PwRC uptake using a multiple-case study approach.

Design/methodology/approach

This study adopted an interpretive multiple-case study approach. The case studies were selected from recently completed construction projects including two infrastructure projects, one commercial project and one residential project. A series of semi-structured interviews were carried out to collect the data. For each case study, four participants were interviewed; these participants represented design, client, supply and building teams.

Findings

The study revealed the main barriers, motivations and opportunities for adoption of PwRC resources in four construction projects. These factors are believed to influence the utilisation of PwRC to varying extents and/or in diverse ways. The findings also suggest that there is a significant opportunity for stakeholders to adopt more sustainable waste management practices, and the use of institutional drivers can help achieve this goal.

Research limitations/implications

The primary research contribution of the study lies in proposing three key research directions: investigating regulatory constraints impacting the use of PwRC, addressing supply chain challenges and enhancing quality assurance.

Originality/value

The research has a practical contribution to the industry through a suite of actionable strategies to increase the uptake of PwRC. The strategies are mostly focussed on stakeholders' education, the regulation that supports PwRC and project management planning. The two major motivations – referring to two of the three pillars of sustainability (economy and environment) – provide a basis for organisational changes to ensure achieving sustainability in construction activities.

Details

Smart and Sustainable Built Environment, vol. 13 no. 2
Type: Research Article
ISSN: 2046-6099

Keywords

Article
Publication date: 12 December 2023

Chibuikem Michael Adilieme, Rotimi Boluwatife Abidoye and Chyi Lin Lee

Given the significant role played by valuers and the evidence of a lack of independence in some property valuation industries, particularly in emerging markets, this study…

Abstract

Purpose

Given the significant role played by valuers and the evidence of a lack of independence in some property valuation industries, particularly in emerging markets, this study analyses the issue of client influence in property valuation by providing a valuer-client perspective and measuring the interrelationships between the clients' influence factors to identify causal factors of prominence, which can assist in developing solutions to address the clients' influence issue.

Design/methodology/approach

The study used a mixed-method approach. Firstly, interviews were conducted with ten property valuers and five financial institution staff in Nigeria, and the data were subject to thematic analysis using Nvivo 12 software. A matrix questionnaire survey was administered to the valuers, and the responses were analysed using the fuzzy Decision-Making Trial and Evaluation Laboratory (DEMATEL) method.

Findings

The results indicate that institutional clients, loan-seeking customers, property valuers and the perception of corruption within the Nigerian environment fuelled the issue of clients' influence. Based on the measurement of the interrelationship between the 14 identified client influence factors, the type of company, perception the public has of the industry, size of the firm, relationship with the client, type of client and regulatory framework were the factors of prominence.

Practical implications

The findings of this study bear huge implications for Nigeria and other similar structured property markets facing the issue of clients' influence in property valuation. With the prominent factors bearing root in a mix of client, valuer and environmental factors such as the valuation structure, process and public perception, there is a need for solutions that level the playing field between institutional clients and valuers, reinforce transparency and establish excellent regulatory standards to address the issue of clients' influence.

Originality/value

This study is the first to measure the interrelationships between the clients' influence factors to identify the prominent causal factors. Accordingly, considering the multi-factors, the research is novel as it focusses on those factors that would likely lead to other factors, thereby providing opportunities to develop solutions that focus on those factors of prominence. Secondly, the study deviates from the narrative on clients' influence in property valuation, which pits it as solely a client or valuer factor, by showing how the interplay of the stakeholders' interests and the environment promotes the issue in a non-transparent property market.

Details

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

Keywords

Article
Publication date: 16 December 2022

Fawaz Alshihre, Ezekiel Chinyio, Chinny Nzekwe-Excel and Emmanuel I. Daniel

The study explored the disparity between construction clients and contractors on what constitutes “client satisfaction”. Such disparity is important because it can lead to…

Abstract

Purpose

The study explored the disparity between construction clients and contractors on what constitutes “client satisfaction”. Such disparity is important because it can lead to different conclusions and thus disagreement on the assessment of project success.

Design/methodology/approach

The philosophical stance was interpretivism, thus the qualitative methodology was adopted. Employing purposive sampling, 30 interviews with clients and another 30 interviews with contractors were conducted in Saudi Arabia. The data obtained were evaluated by thematic analysis.

Findings

The results indicate differences in the consensus ad idem (meeting of the minds) between clients and contractors in terms of both their perceptions and prioritisation of the attributes that underpin client satisfaction. For example, some contractors thought that using advanced technologies was very important for client satisfaction, whereas some clients preferred the contractors to be honest with them.

Research limitations/implications

The data collection was limited to Saudi Arabia and only the views of clients and contractors were studied, thereby limiting the generalisability of the findings.

Practical implications

The identification of the differing priorities of clients and contractors on client satisfaction provides an informed basis to make more concerted efforts to satisfy clients and minimise disputes on projects in Saudi Arabia.

Originality/value

The study contrasted the views of clients and contractors simultaneously on the subject matter of client satisfaction in relation to project success, and analysed this through the lens of consensus ad idem. The key influences on clients' satisfaction in Saudi Arabia are also presented.

Details

Built Environment Project and Asset Management, vol. 13 no. 3
Type: Research Article
ISSN: 2044-124X

Keywords

Article
Publication date: 20 April 2023

Chibuikem Michael Adilieme, Rotimi Boluwatife Abidoye and Chyi Lin Lee

The property valuation process involves the property valuer expressing expertise in reaction to a client' instruction. However, there are instances where clients, driven by…

360

Abstract

Purpose

The property valuation process involves the property valuer expressing expertise in reaction to a client' instruction. However, there are instances where clients, driven by self-interest, impose their will to influence valuers into returning property valuation figures that are not the true reflection of the valuer's assessment. This paper set out to revisit the issue of client influence in property valuation by conducting a scoping review to establish key findings, gaps, implications and solutions.

Design/methodology/approach

In total, 21 articles on client influence published from 1997 till date were systematically obtained from Scopus, Web of Science, Google Scholar and through citation searching and reviewed through a “Patterns, Advances, Gaps, Evidence for practice and Research recommendations (PAGER)” framework. Further analysis and visualisation were performed using VOSviewer software.

Findings

This study found that based on the number of studies, the issue of client influence has received empirical attention, which is few and far between, with financial institutions identified as the major culprits in most of those studies. One core reason for this is the stakes involved in the finance sector, which relies on property valuation for loan disbursement and performance measurement. Furthermore, previous studies have focused on identifying the issue through the lens of the property valuer without giving recourse to the client's perspective on what may drive the issue.

Research limitations/implications

This study provides evidence that the issue of client influence persists, with some elements of bias in the methodology. Furthermore, the solutions proffered have focused on the valuer and have not been tested to ascertain their effectiveness. Future studies can consider examining the issue from the perspective of financial institutions.

Originality/value

This study is one of the first review studies on client influence on property valuation. It is also the first to identify a pattern in client influence studies that points to the issue being perpetuated by financial institutions. Furthermore, it is the first in recent time to reveal how limited study has been conducted in the area as well as the solutions which have neither been tested nor implemented.

Details

Property Management, vol. 41 no. 5
Type: Research Article
ISSN: 0263-7472

Keywords

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