Search results
1 – 10 of 253This study aims to identify the transformations of the residential landscape and trends in the popular real estate market associated with tourist activity in a low-income…
Abstract
Purpose
This study aims to identify the transformations of the residential landscape and trends in the popular real estate market associated with tourist activity in a low-income neighborhood in Bogotá.
Design/methodology/approach
The methodology was mainly qualitative, although the author analyzed some quantitative data. The author conducted three guided tourist tours in the area and systematically compared photographs taken in 2022 with satellite images in 2019 before starting the tourist activity. To analyze the real estate market, the author uses data on housing offers for sale and rent. Finally, the author conducted semi-structured interviews with tour guides, residents and other key actors in the sector.
Findings
This study identified some dynamics of change in the real estate market, particularly associated with an increase in housing sales and rental prices, as well as a possible effect on the increase of new informal growth processes. The author found a growing transformation of the urban and residential landscape associated with the painting of facades by the local administration and mural painting processes by community organizations. There are evident housing investment processes, some associated with verticalization and other use changes for tourism activities. It is necessary to reflect on these processes’ effects on the city’s sociospatial dynamics.
Originality/value
This study makes an empirical contribution to the relationship between residential real estate markets in low-income sectors and tourism activity. Although analyses of community-based tourism in popular areas have been conducted, less is known about the effects on the real estate market and the associated sociospatial transformations.
Details
Keywords
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
Keywords
Narvada Gopy-Ramdhany and Boopen Seetanah
Mauritius’s residential real estate sector has undergone an increase in foreign investment over the past decades. This study aims to establish if the increasing level of foreign…
Abstract
Purpose
Mauritius’s residential real estate sector has undergone an increase in foreign investment over the past decades. This study aims to establish if the increasing level of foreign real estate investments (FREI) has increased land demand and land prices. The study also aims to depict whether the relation between FREI and land prices prevails at an aggregate and/ or a regional level.
Design/methodology/approach
Data from 26 regions, classified as urban, rural and coastal is collected on an annual basis over the period 2000 to 2019, and a dynamic panel regression framework, namely, an autoregressive distributed lag model, is used to take into account the dynamic nature of land price modeling.
Findings
The findings show that, at the aggregate level, in the long-term, FREI does not have a significant influence on land prices, while in the short term, a positive significant relationship is noted between the two variables. A regional breakdown of the data into urban, rural and coastal was done. In the long term, only in coastal regions, a positive significant link was observed, whereas in urban and rural regions FREI did not influence land prices. In the short term, the positive link subsists in the coastal regions, and in rural regions also land prices are positively affected by FREI.
Originality/value
Unlike other studies which have used quite general measures of FREI, the present research has focused on FREI mainly undertaken in the residential real estate market and how these have affected residential land prices. This study also contributes to research on the determinants of land prices which is relatively scarce compared to research on housing prices.
Details
Keywords
Shahriar Kabir, Zakia Binte Jamal and Bindu Proshad Kairy
This study is based on the consumer purchase intention (CPI) in real estate. The purpose of this study is to investigate the link between CPI and preferred individual investment…
Abstract
Purpose
This study is based on the consumer purchase intention (CPI) in real estate. The purpose of this study is to investigate the link between CPI and preferred individual investment capacity in buying real estate properties. This study investigates if commonly known factors of CPI such as attitude, social power or subjective norms, perceived behavior power or control, location, surrounding environment and socialization can influence a consumer’s preferred investment amount when buying a house, either for own use or for rental purpose.
Design/methodology/approach
A total of 334 respondents participated in this study. The survey data was analyzed using factor analysis technique, ordinary least square technique and Poisson pseudo maximum likelihood technique.
Findings
This study finds that location, surrounding environment, property/construction papers, roads, mosque/temple and fire services significantly influence the preferred investment amount of a real estate investor.
Originality/value
This study suggests that a link exists between CPI and real estate investment decision through factors such as location, surrounding environment, legal documentation and communication facility. These identified CPI factors require serious consideration by the real estate developers and their financing partners.
Details
Keywords
Changyao Song, Tingting Yin, Qian Zhi, Jiaqian Gu and Xinjian Li
Land is the basis for economic development as well as tourism development. There is a close relationship between tourism development and the land market. However, research on the…
Abstract
Purpose
Land is the basis for economic development as well as tourism development. There is a close relationship between tourism development and the land market. However, research on the effect of tourism development on land prices is insufficient. This paper aims to investigate the effect and mechanism of tourism development on land prices.
Design/methodology/approach
The econometric paradigm is the main research method. Fixed effect models, instrumental variable models and mediating effect models are introduced to examine the impact of tourism development on land prices. The data include three types: land transaction data, city-level data and scenic spot data. More than 360,000 samples of land transactions for 284 prefecture-level cities in China from 2007 to 2021 are applied.
Findings
Tourism development can significantly increase land prices. This conclusion holds after using instrumental variables to address endogeneity and testing for robustness. Meanwhile, tourism development’s effect on land price is influenced by land type, city type, city tier and city location. The land price increase effect of tourism is more significant for tourism land, tourist cities, central cities and Western cities. The paper also reveals the mechanisms of the public service enhancement effect, infrastructure upgrading effect and environmental optimization effect in tourism development’s effect on land price.
Originality/value
The study contributes to the literature on the relationship between tourism development and land market. The generality and specificity of tourism development’s effect on land price are revealed from the micro and macrolevel research level. The findings enrich the literature on tourism price effects, point to rational ways to optimize and regulate land prices and provide new ideas for land-market development.
Details
Keywords
Luisito C. Abueg and Iris L. Acejo
As the Philippines enters into the era of the “next normal,” that is, from the pandemic era called the “new normal,” we look into how the Philippines' state of tourism and built…
Abstract
As the Philippines enters into the era of the “next normal,” that is, from the pandemic era called the “new normal,” we look into how the Philippines' state of tourism and built environment sectors. We also revisit its situation having the “longest lockdown in the world” and look into iterations of socioeconomic models, business platforms, and other elements that lead to the dream of a postpandemic sustainable tourism industry. In this inquiry, we highlight the importance of elements of the built environment, both at the macroeconomic level and at the micro units of business, civil society, and the tourism sector at large. While there has been a substantive discussion on the nexus of the tourism and built environment sectors, little has been devoted to the challenges these intertwined sectors faced during the COVID-19 pandemic. We suggest complementation of practices from the macroscale to the microlevel tourism and built environment sectors, and vice-versa, which will ensure the full complementation of the sectors. These proposals are in full contextualization of the objective toward the postpandemic continued recovery, growth, and sustainability, from the local, national, and the regional economy of Southeast Asia, and also to various parts of the world.
Details
Keywords
The scheme has supported buoyant foreign demand for residential properties, which is an important source of foreign direct investment in Greece. However, potential security risks…
Details
DOI: 10.1108/OXAN-DB288977
ISSN: 2633-304X
Keywords
Geographic
Topical
Paola Maria Anna Paniccia, Gianpaolo Abatecola and Silvia Baiocco
How does the interaction between time and knowledge affect the evolution of organizations? Past research in organizational evolution has mostly investigated time and knowledge as…
Abstract
Purpose
How does the interaction between time and knowledge affect the evolution of organizations? Past research in organizational evolution has mostly investigated time and knowledge as two separate variables. In contrast, theoretical perspectives integrating these variables are still seemingly scant. The authors believe that filling this literature gap needs attention. Thus, this study aims to contribute by developing a conceptual framework.
Design/methodology/approach
This is a conceptual study. The framework is centred on the concept of “co-evolutionary time”, which the authors explain through a business example from the tourism industry. Supported by a narrative-based style, from a methodological point of view the framework is featured by the attempt to synthesize specific, extant literature into new theoretical development.
Findings
As its main theoretical contribution, the co-evolutionary time suggests how firms can adapt in a way that, from an evolutionary perspective, proves fitting both in terms of contents and methods, thus opening possibilities for new long-term social construction and reconstruction. As its main practical contribution, co-evolutionary time can constitute not only a temporary source of organizational success and competitive advantage but also an agent of enduring change and long-term business survival.
Originality/value
As its main novelty, the framework is developed through merging two literature streams. In particular, the authors first consider the literature about time, with a focus on its objective and subjective dimensions. The authors then consider the literature about organizational evolution, with a focus on the co-evolutionary nature of the firm/environment relationship.
Details
Keywords
Ja Young (Jacey) Choe, Emmanuel Kwame Opoku, Javier Calero Cuervo and Raymond Adongo
This study profiles and segments potential tourists on the basis of their various attitudes toward artificial intelligence (AI) services. Furthermore, this study distinguishes…
Abstract
Purpose
This study profiles and segments potential tourists on the basis of their various attitudes toward artificial intelligence (AI) services. Furthermore, this study distinguishes descriptors among the different clusters, such as preference for using diverse AI services, overall image of AI services, willingness to use AI services (WUAI), willingness to pay more for AI services (WPAI) in tourism and hospitality, and characteristics of respondents.
Design/methodology/approach
An online survey was conducted in South Korea. Data on 758 potential tourists were used for K-means cluster analysis.
Findings
This study identified three distinct tourist segments with differentiated attitudes toward AI services: the group aspiring to use or fantasizing about AI services (Cluster 1), the group being knowledgeable and supportive of AI services (Cluster 2), and the group having low interest about AI services (Cluster 3).
Practical implications
Members of Cluster 2 were the most marketable as this segment exhibited the greatest knowledge of and support for AI services, while Cluster 1 would be an ideal segment to launch and test novel AI services.
Originality/value
This study extends the authors’ knowledge of AI scholarship by unpacking the existing market segments, which could be tapped to sustain AI penetration in the tourism industry. Hence, this study contributes to existing debates on AI scholarship, which is predominated by conceptual reflections and issues of AI services in the tourism and hospitality field.
Details
Keywords
Aloísio Lélis de Paula, Victor Marchezini and Tatiana Sussel Gonçalves Mendes
This paper aimed to develop a participatory methodology to analyze the disaster risk creation in coastal cities, based on an approach that combines social, urban, environmental…
Abstract
Purpose
This paper aimed to develop a participatory methodology to analyze the disaster risk creation in coastal cities, based on an approach that combines social, urban, environmental and disaster risk elements.
Design/methodology/approach
The methodology uses some aspects of three theoretical approaches in a complementary way: i) the Pressure and Release (PAR) framework for the identification of dynamic pressures that contribute to disaster risk creation; ii) the application of Drivers, Pressure, State, Impact, Response (DPSIR) framework to analyze environmental dimensions; and iii) urban analysis, applying the Strengths, Weaknesses, Opportunities and Threats (SWOT) tool to classify urban processes. The methodology combined the use of satellite remote sensing data to analyze the urban sprawl and citizen science methods to collect social and environmental data, using the case study of the watershed of the Juqueriquerê River in the coastal city of Caraguatatuba, Brazil. The pilot project was part of a local university extension project of the undergraduate course on Architecture and Urban Planning and also engaged residents and city hall representatives.
Findings
The satellite remote sense data analysis indicated a continuous urban sprawl between 1985 and 2020, especially in the south of the Juqueriquerê watershed, reducing urban drainage and increasing the extension and water depth of urban flooding and riverine floods. Using citizen science methods, undergraduates identified settlements with limited economic resources to elevate houses and a lack of infrastructure to promote a resilient coastal city. After identifying the dynamic pressures that contribute to disaster risk creation and the weaknesses and strengths of a resilient city, undergraduate students proposed urban planning interventions and gray and green infrastructure projects to mitigate disaster risks.
Social implications
The paper identifies urban sprawl in disaster-prone areas as one of the risk factors contributing to disaster. It also comprehensively analyzes differences between different zones in the Juqueriqere River, which will be useful for policy-making.
Originality/value
The method presented an interdisciplinary approach that used satellite remote sensing data and citizen science techniques to analyze disaster risks in coastal cities. The multidimensional approach used to evaluate risks is useful and can be replicated in other similar studies to gain a more comprehensive understanding of disaster risks.
Details