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Article
Publication date: 20 June 2023

Janhavi Abhang and V.V. Ravi Kumar

This study aims to develop a database of existing academic information in house purchase decision (HPD) using systematic literature review (SLR), to facilitate worldwide…

Abstract

Purpose

This study aims to develop a database of existing academic information in house purchase decision (HPD) using systematic literature review (SLR), to facilitate worldwide advancement of research under HPD domain.

Design/methodology/approach

This research examined papers from two reputable databases – Scopus and Google Scholar – from 1992 to 2022 using a scoping review technique (Arksey and O’Malley, 2005) and a theme analysis method. Out of 374, 181 articles fit the inclusion parameters and were evaluated using the theme analysis approach.

Findings

Data from 181 articles was evaluated thematically to create a thematic map of HPD research. Five main themes and their sub-themes were identified: consumer behaviour, housing attributes, factors influencing purchasing decisions, investment analysis and demographics, which proved essential in understanding HPD and customer preferences for house purchase.

Practical implications

Data from 181 articles were evaluated thematically to create a thematic map of HPD research. This SLR intends to provide useful new insights on consumer concerns about home purchases in the rapidly developing residential real estate market and the issues that marketers, housing sector stakeholders, real estate industry and existing and future researchers should prioritize.

Originality/value

This research is unique such that it is the only 30-year-long SLR on the subject matter of HPD. This paper makes a significant contribution to residential real estate domain signifying the present state of research in HPD.

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 December 2023

Sheau-Ting Low, Li-Ting Neo, Weng-Wai Choong, Razlin Mansor, Siaw-Chui Wee and Jing-Ying Woon

The world population over the age of 60 is expected to increase from 900 million in 2015 to two billion by 2050. Retirement homes have emerged as a prominent housing alternative…

Abstract

Purpose

The world population over the age of 60 is expected to increase from 900 million in 2015 to two billion by 2050. Retirement homes have emerged as a prominent housing alternative and become a trend for the older adults; however, older population in Malaysia could have a negative view of retirement homes. Different generations could have different perceptions of the value of retirement homes. This study aims to explore the value of retirement homes across diverse age cohorts in Malaysia.

Design/methodology/approach

A qualitative approach is adopted for this study. Thematic analysis is used to analyse the interview transcripts obtained from semi-structured interviews.

Findings

The results indicated that baby boomers tend to have more negative values towards retirement homes, whereas Generations X and Y demonstrated more favourable and positive values for retirement homes.

Originality/value

This study serves as a useful reference for housing developers, policymakers and the management of retirement homes to better understand how different age cohorts value retirement homes, thereby encouraging relevant housing strategies to enhance the quality and support systems of retirement homes in society.

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: 2 August 2023

Anthony Owusu-Ansah, Samuel Azasu and William Seremi Thantsha

This paper aims to investigate the effects of school quality (SQ) on residential property prices in Johannesburg, South Africa. Previous studies have empirically examined the…

Abstract

Purpose

This paper aims to investigate the effects of school quality (SQ) on residential property prices in Johannesburg, South Africa. Previous studies have empirically examined the quality of private and public schools without a standard proxy that is accepted in the literature. As a result, this paper extends the literature to the global south by the effect that SQ has on residential property price changes in the local markets of the City of Johannesburg.

Design/methodology/approach

The research adopts the hedonic pricing model to evaluate and quantify the impact that the structural attributes such as erf size; number of bedrooms and bathrooms; and SQ measured by pass rates, sport rankings and quality of facilities have on house prices. A total of 2,763 property transactions covering the Kensington and Observatory areas of the City of Johannesburg over the period 2010 and 2020 were obtained from the deeds registry and used for the empirical analysis.

Findings

The study finds that SQ has a positive impact on house prices. When the average pass rate of the model school increases by 1%, all other things being equal, house prices also increase by 1.8%. This suggests that people who live closer to the model school are willing to pay more when the school performance improves. The 1.8% premium this study attributes to a 1% increase in school performance is however generally low when compared to some findings in the literature suggesting that there may be some other important factors that households consider when purchasing their home.

Originality/value

The main contribution is uncovering the relationship between the SQ and residential property prices in the local markets, using Kensington and Observatory in Johannesburg as sampled areas. Due to the presence of reliable and quality of data sets, such studies are not many in the global south and a study of this nature in South Africa is notably not existing in the literature.

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: 7 September 2023

Nor Salwani Hashim, Fatimah De’nan and Nurfarhah Naaim

Nowadays, residential buildings have become increasingly important due to the growing communities. The purpose of this study is to investigate the behavior of a steel structural…

Abstract

Purpose

Nowadays, residential buildings have become increasingly important due to the growing communities. The purpose of this study is to investigate the behavior of a steel structural framing system that incorporates lightweight load-bearing walls and slabs, and to compare the weight of materials used in cold-formed and hot-finished steel structural systems for affordable housing.

Design/methodology/approach

Four types of models consisting of 243 members were simulated. Model 1 is a cold-formed steel structural framing system, while Model 2 is a hot-finished steel structural framing system. Both Models 1 and 2 use lightweight wall panels and lightweight composite slabs. Models 3 and 4 are made with brick walls and precast reinforced concrete systems, respectively. These structures use different wall and slab materials, namely, brick walls and precast reinforced concrete. The analysis includes bending behavior, buckling resistance, shear resistance and torsional rotation analysis.

Findings

This study found that using thinner steel sections can increase the deflection value. Meanwhile, increasing member length and the ratio of slenderness will decrease buckling resistance. As the applied load increases, buckling deformation also increases. Furthermore, decreasing shear area causes a reduction in shear resistance. Thicker sections and the use of lightweight materials can decrease the torsional rotation value.

Originality/value

The weight comparison of the steel structures shows that Model 1, which is a cold-formed steel structure with lightweight wall panels and lightweight composite slabs, is the most suitable model due to its lightweight and affordability for housing. This model can also be used as a reference for the optimal design of modular structural framing using cold-formed steel materials in the field of civil engineering and as a promotional tool.

Details

World Journal of Engineering, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1708-5284

Keywords

Article
Publication date: 29 December 2023

Prabhat Kumar Rao and Arindam Biswas

This study aims to assess housing affordability and estimate demand using a hedonic regression model in the context of Lucknow city, India. This study assesses housing…

Abstract

Purpose

This study aims to assess housing affordability and estimate demand using a hedonic regression model in the context of Lucknow city, India. This study assesses housing affordability by considering various housing and household-related variables. This study focuses on the impoverished urban population, as they experience the most severe housing scarcity. This study’s primary objective is to understand the demand dynamics within the market comprehensively. An understanding of housing demand can be achieved through an examination of its characteristics and components. Individuals consider the implicit values associated with various components when deciding to purchase or rent a home. The components and characteristics have been obtained from variables relating to housing and households.

Design/methodology/approach

A socioeconomic survey was conducted for 450 households from slums in Lucknow city. Two-stage regression models were developed for this research paper. A hedonic price index was prepared for the first model to understand the relationship between housing expenditure and various housing characteristics. The housing characteristics considered for the hedonic model are dwelling unit size, typology, condition, amenities and infrastructure. In the second stage, a regression model is created between household characteristics. The household characteristics considered for the demand estimation model are household size, age, education, social category, income, nonhousing expenditure, migration and overcrowding.

Findings

Based on the findings of regression model results, it is evident that the hedonic model is an effective tool for the estimation of housing affordability and housing demand for urban poor. Various housing and household-related variables affect housing expenditure positively or negatively. The two-stage hedonic regression model can define willingness to pay for a particular set of housing with various attributes of a particular household. The results show the significance of dwelling unit size, quality and amenities (R2 > 0.9, p < 0.05) for rent/imputed rent. The demand function shows that income has a direct effect, whereas other variables have mixed effects.

Research limitations/implications

This study is case-specific and uses a data set generated from a primary survey. Although household surveys for a large sample size are resource-intensive exercises, they provide an opportunity to exploit microdata for a better understanding of the complex housing situation in slums.

Practical implications

All the stakeholders can use the findings to create an effective housing policy. The variables that are statistically significant and have a positive relationship with housing costs should be deliberated upon to provide the basic standard of living for the urban poor. The formulation of policies should duly include the housing preferences of the economically disadvantaged population residing in slum areas.

Originality/value

This paper uses primary survey data (collected by the authors) to assess housing affordability for the urban poor of Lucknow city. It makes the results of the study credible and useful for further applications.

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: 18 January 2024

Nor Nazihah Chuweni, Nurul Sahida Fauzi, Asmma Che Kasim, Sekar Mayangsari and Nurhastuty Kesumo Wardhani

Sustainability represents innovative elements in determining the profitability of real estate investments, among other factors, including the green component in real estate…

Abstract

Purpose

Sustainability represents innovative elements in determining the profitability of real estate investments, among other factors, including the green component in real estate. Evidence from the literature has pointed out that incorporating green features into residential buildings can reduce operational costs and increase the building’s value. Although green real estate is considered the future trend of choice, it is still being determined whether prospective buyers are willing to accept the extra cost of green residential investment. Therefore, this study aims to investigate the effect of housing attributes and green certification on residential real estate prices.

Design/methodology/approach

The impact of the housing attribute and green certification in the residential sectors was assessed using a transaction data set comprising approximately 861 residential units sold in Selangor, Malaysia, between 2014 and 2022. Linear and quantile regression were used in this study by using SPSS software for a robust result.

Findings

The findings indicate that the market price of residential properties in Malaysia is influenced by housing attributes, transaction types and Green Building Index certification. The empirical evidence from this study suggests that green certification significantly affects the sales price of residential properties in Malaysia. The findings of this research will help investors identify measurable factors that affect the transaction prices of green-certified residential real estate. These identifications will facilitate the development of strategic plans aimed at achieving sustainable rates of return in the sustainable residential real estate market.

Practical implications

Specifically, this research will contribute to achieving area 4 of the 11th Malaysia Plan, which pertains to pursuing green growth for sustainability and resilience. This will be achieved by enhancing awareness among investors and homebuyers regarding the importance of green residential buildings in contributing to the environment, the economy and society.

Originality/value

The regression model for housing attributes and green certification on house price developed in this study could offer valuable benefits to support and advance Malaysia in realising its medium and long-term goals for green technology.

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: 24 January 2024

Titus Ebenezer Kwofie, Michael Nii Addy, Daniel Yaw Addai Duah, Clinton Ohis Aigbavboa, Emmanuel Banahene Owusu and George Felix Olympio

As public–private partnerships (PPPs) have become preferred and veritable approach to deliver affordable housing, the seemingly lack of understanding of the significant factors…

Abstract

Purpose

As public–private partnerships (PPPs) have become preferred and veritable approach to deliver affordable housing, the seemingly lack of understanding of the significant factors that impact on success has become a notable setback. This study aims to delineate significant factors that can support decisions in affordable PPP public housing delivery.

Design/methodology/approach

Largely, a questionnaire survey was adopted to elicit insights from practitioners, policymakers and experts to develop an evaluative decision support model using an analytical hierarchy process and multi-attribute utility technique approach. Further, an expert illustration was conducted to evaluate and validate the results on the housing typologies.

Findings

The results revealed that energy efficiency and low-cost green building materials scored the highest weighting of all the criteria. Furthermore, multi-storey self-contained flats were found to be the most preferred housing typology and were significantly influenced by these factors. From the model evaluation, the scores on the factors of sustainability, affordability, cultural values and accountability were consistent across all typologies of housing whereas that of benchmarking, governance and transparency were varied.

Originality/value

The decision support factors captured varied dimensions of key factors that impact on affordable PPP housing that have not been considered in an integrated manner. These findings offer objective and systematic support to decision-making in affordable PPP housing delivery.

Details

Journal of Engineering, Design and Technology , vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1726-0531

Keywords

Article
Publication date: 6 April 2023

Ummer Farooque, Muhammad Usman Awan and Muhammad Shafiq

The purpose of this study is to develop a scale for measuring housing quality in the context of Pakistan.

Abstract

Purpose

The purpose of this study is to develop a scale for measuring housing quality in the context of Pakistan.

Design/methodology/approach

The inductive and deductive approaches for item generation have been combined, and items have been purified using multistage expert review. Data was collected from a sizeable purposive sample of 445 respondents, and exploratory and confirmatory factor approaches used for assessing psychometric properties of the scale.

Findings

The result is a 21-item scale covering five dimensions, namely, Design and Construction Quality, Neighborhood Quality, Adequacy of Space, Quality of Institutional Services and Proximity of Basic Amenities.

Originality/value

This study contributes to housing quality literature by deepening our understanding of the concept of housing quality in the context of Pakistan, the world’s fifth most populous country. The findings of the study have important implications for both theory and practice.

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: 1 June 2022

Taran Kaur, Sanjeev Bansal and Priya Solomon

Holy cities in India are seeing tremendous gentrification. This study aims to investigate the effect of the changing lifestyle of people towards spirituality and the changing…

Abstract

Purpose

Holy cities in India are seeing tremendous gentrification. This study aims to investigate the effect of the changing lifestyle of people towards spirituality and the changing lifestyle's impact on consumer buying behavior on properties in Indian holy cities which has not been studied anecdotally.

Design/methodology/approach

The research is exploratory in nature. A questionnaire has been sent to collect primary data through SurveyMonkey. Simple random sampling was used to collect a sample of 450 respondents which was also verified using G* software. The data were analyzed using descriptive statistics and partial least square–structured equation modeling (PLS-SEM).

Findings

Findings obtained through the structural model using bootstrapping technique suggest that intrinsic and extrinsic factors are attracting tourists leading to an increase in the demand for real estate in holy cities.

Research limitations/implications

The research findings may vary as per the cultural differences and belief in spirituality, which is subject to perceptual biases in different holy cities.

Practical implications

The traditional determinants of property buying behavior are considered inadequate to attract real estate investments. The inclusion of these behavioral aspects – intrinsic and extrinsic factors may improve the investment inflows in India.

Social implications

Spirituality connects to the concept of behavioral real estate, where the decision to buy property is largely affected by the emotional attachment of people.

Originality/value

This research adds value to fill the gap by finding out the latent determinant – emotional reasons impacting transnational gentrification in India.

Details

Journal of Cultural Heritage Management and Sustainable Development, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2044-1266

Keywords

Article
Publication date: 13 February 2023

Andrea Rodrigues, Benny J. Godwin and Jossy P. George

Assessing anthropomorphic tendency in relation to real estate purchase decisions and analysing the elements of friendliness, aggressiveness, pleasure and arousal as a link to the…

Abstract

Purpose

Assessing anthropomorphic tendency in relation to real estate purchase decisions and analysing the elements of friendliness, aggressiveness, pleasure and arousal as a link to the spatial memory of the consumer. This study aims to help brands and advertisers in the real estate industry to create meaningful consumer relationships by using elements that are associated with positive spatial experience. By formulating a detailed questionnaire with adapted variables from proven research and a multilayered approach of theoretic and practical analysis, this paper situates the identified variables in the plane of space and customer experience.

Design/methodology/approach

By using structural equation modeling, this study analyses a sample data of 411 consumers and their response to elements of housing.

Findings

The findings of this study showed that variables of friendliness, aggressiveness, pleasure and arousal significantly impact consumer’s real estate purchase decision; however, anthropomorphic tendency does not have a significant impact. Through theoretical analysis, it was found that spatial memory may have a role in the visual and display of the variables.

Originality/value

The merit of this paper lies in the discussion it has raised with regard to the intersection between theoretics of space and the chosen variables. In the field of business and management, often philosophical implications of spatiality may not be actively associated with numerical computation. This paper not only looks at brand anthropomorphism’s impact on real estate purchase decisions but also looks at friendliness and other mentioned variables as significantly impacting purchase decisions and linked to memory, space and affiliation.

Details

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

Keywords

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