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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.

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.

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.

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.

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.

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.

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.

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.

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.

The purpose of this paper is to evaluate the impact of beneficial externality generated by the World Heritage List (WHL) on residential property values in order to offer new insights into heritage discourses.

The study uses the hedonic price model to estimate empirically the difference in prices for residential properties located in the Old Rauma World Heritage. The study uses residential sales transaction data from the City of Rauma from January 2005 to September 2012 drawn from an online database called KVKL Hintaseurantapalvelu managed by the Central Federation of Finnish Real Estate Agencies.

The research results indicate a positive, but insignificant, relationship between the property sale prices (euros/sqm) and heritage designation. However, the total sale prices are higher in Old Rauma as the properties are significantly larger in Old Rauma compared to other properties in Rauma.

Studies in heritage economics have assessed the influence of the property market on heritage listing and designation at either the national level, the local level or a mix of national/local levels. This paper contributes to the literature by analysing the impact of a United Nations Educational, Scientific and Cultural Organisation (UNESCO) world heritage designation on residential property values. UNESCO is the leading global institution which deals with the protection of heritage sites that transcend national and local boundaries.

Valuers should independently assess market value. The purpose of this article is to analyze whether the valuation behavior remains independent when commissioned by publicly listed companies in Taiwan.

This study used both quantitative and qualitative methods. Quantitative data analysis was used to examine the estimated premium ratio and estimated divergent ratio with the independent sample t test and Wilcoxon-Mann-Whitney test. To complement and validate the quantitative analysis, open-ended questionnaires were conducted, providing additional insights into the research findings.

The results showed that there is a significant difference in estimated valuations commissioned by representatives of buyers and sellers, and the estimated premium ratios commissioned by representatives of buyers were higher than those of sellers. Furthermore, the open-ended questionnaires results indicate that these findings may be influenced by clients for less experienced appraisers. However, for senior appraisers, this is seen as an action to gain a better understanding of the valuation purpose and always within a reasonable price range. In addition, client influence is not a static factor; it may transform into the valuer's behavior as the appraiser's experience grows and deepens.

It is difficult to obtain valuation reports commissioned by representatives of both buyers and sellers for the same property transactions. In this study, data were obtained from the Market Observation Post-System (MOPS) in Taiwan. As valuation reports could not be obtained, estimated valuations and transaction prices are used to calculate estimated premium ratio and estimated divergent ratios.

Previous investigations of the client effect have been conducted using qualitative methods including questionnaire surveys, in-depth interviews and experimental design. However, these studies are subject to moral hazard. This study may be the first study that has access to data on valuations for both buyers and sellers in such a formal setting.

This paper aims to conduct an analysis of the influence of both the breadth and depth of outward foreign direct investment (OFDI) undertaken by Chinese high-tech listed companies during the period spanning 2010–2019. The data pertaining to these companies was used as a research sample to analyze the effects of OFDI on radical innovation performance.

Hierarchical regression analysis was used to test the proposed models, using survey data collected from 442 high-tech companies in China.

The findings of this study indicate a curvilinear (i.e. U-shaped) relationship between the breadth/depth of OFDI and radical innovation performance. Additional analysis reveals that OFDI plays a role in facilitating innovation breakthroughs by enhancing the internal dynamic capabilities of companies. Moreover, it is observed that a well-established institutional environment in the host country of investment can positively moderate the relationship between OFDI breadth/depth and radical innovation performance.

This study proffers a significant contribution to the understanding of the crucial role played by OFDI from emerging economy companies in enhancing radical innovation performance. Moreover, it offers theoretical guidance for multinational companies aiming to foster innovation breakthroughs.

This study examines whether green buildings enjoy more favorable financing terms compared to their non-green counterparts, exploring the presence of a green discount in commercial real estate lending. Despite the extensive research on green premiums on the equity side, lending has received limited attention in the existing literature, even as regulations have increased and ambitious net-zero targets have been set in the banking sector.

In this study, the authors leverage a unique dataset comprising European commercial loan data spanning from 2018 to 2023, with a total loan value exceeding €30 billion. Hedonic regression analysis is used to isolate a potential green discount. Specifically, the authors rely on property assessments conducted by lenders to investigate whether green properties exhibit lower interest rate spreads and higher loan-to-value (LTV) ratios.

The findings reveal the existence of a green discount in European commercial real estate lending, with green buildings enjoying a 5.35% lower contracted loan spread and a 3.92% lower target spread compared to their non-green counterparts. However, this analysis does not indicate any distinct advantage in terms of LTV ratios for green buildings.

This research contributes to a deeper understanding of the interaction between green properties and commercial real estate lending, offering valuable insights for both lenders and investors.

This study, to the best of the authors’ knowledge, represents the first of its kind in a European context and provides empirical evidence for the presence of a green discount.

Trade centers are operationally run by a property manager as a delegate of the property owner. The dimensions of service quality (SERVQUAL), which include tangibles, assurance, empathy, reliability and responsiveness, are vital to be implemented as the duties of property managers when providing service to tenants to maintain tenant satisfaction and property reputation. This study aims to understand the effects of the SERVQUAL dimensions, the role of property management and the quality of rental value on tenant satisfaction and property reputation.

The sample was gathered using the purposive sampling technique with the criteria of being a tenant and kiosk owner in trade center properties in Surabaya. Data were gathered using questionnaires, from which 100 respondents were acquired. It was then analyzed using the partial least square structural equation model (SEM) in the SmartPLS 3.0 program to test the hypothesis.

The results of this study prove that the SERVQUAL dimensions – assurance, empathy and responsiveness – significantly influence tenant satisfaction with the mediating variable of the role of property management. Moreover, the SERVQUAL dimensions – empathy, reliability and responsiveness – significantly influence property reputation with the mediating variable of the role of property management.

Property managers are expected to proactively map out different service measures related to the dimension of satisfaction by conducting service training programs for their employees. In fact, in the post-pandemic period, property managers require new marketing strategies, such as leaseback, to effectively carry out renovations of the trade center’s public facilities and restructure the tenant mix.

Trade centers as trading areas experience management limitations because of the prohibition of mass gatherings during the COVID-19 pandemic, resulting in a limited number of onsite trading. Tenants who have entered into a long-term contract experience loss and rely on the aid of property management to survive. The role and quality of service of property management influence tenants’ satisfaction post-COVID-19 pandemic.

The purpose of this study is to carry out a comparative analysis of four machine learning models such as linear regression, decision trees, k-nearest neighbors and support vector regression in predicting housing prices in Prishtina.

Using Python, the models were assessed on a data set of 1,512 property transactions with mean squared error, coefficient of determination, mean absolute error and root mean squared error as metrics. The study also conducts variable importance test.

Upon preprocessing and standardization of the data, the models were trained and tested, with the decision tree model producing the best performance. The variable importance test found the distance from central business district and distance to the road leading to central business district as the most relevant drivers of housing prices across all models, with the exception of support vector machine model, which showed minimal importance for all variables.

To the best of the author’s knowledge, the originality of this research rests in its methodological approach and emphasis on Prishtina's real estate market, which has never been studied in this context, and its findings may be generalizable to comparable transitional economies with booming real estate sector like Kosovo.

This research study aims to delve into the enduring relationship between housing property prices and economic policy uncertainty across eight major Indian cities.

Using the panel non-linear autoregressive distributed lag model, this study meticulously investigates the asymmetric impact of economic policy uncertainty on apartment and house (unit) prices in India during the period from 2000 to 2022.

The findings of this study indicate that economic policy uncertainty exerts a negative influence on property prices, but noteworthy asymmetry is observed, with positive changes in effect having a more pronounced impact than negative changes. This asymmetrical effect is particularly prominent in the case of unit prices.

This research reveals that long-run price trends are also influenced by factors such as interest rates, building costs and housing loans. Through a comprehensive analysis of these factors and their interplay with property prices, this research paper contributes valuable insights to the understanding of the real estate market dynamics in Indian cities.

This study evaluated the effect of macroeconomic factors on residential real estate (RE) investment returns in the cities of Abuja and Lagos, Nigeria, with a view to guiding RE investors and researchers.

A survey research design was employed using a questionnaire to collect RE transaction data from 2008 to 2022 from estate surveying and valuation firms in the study areas. Rental and capital value data collected were used to construct rental and capital value indices and total returns on investment. The macroeconomic data used were retrieved from the archives of the Central Bank of Nigeria (CBN). Granger causality (GC) and multiple regression models were adopted to evaluate the effect of selected macroeconomic variables on residential RE investment returns in the study areas.

The study found a progressive upward movement in rental and capital values of residential RE investment in the study areas within the study period. Total and risk-adjusted returns on investment were equally positive within the study period. Only the inflation rate, unemployment rate and real gross domestic product (GDP) per capita were found to be the major determinants of residential RE investment returns in the study areas within the study period.

The secrecy associated with property transaction information/data by RE practitioners in the study areas posed a challenge. Property transaction data were not adequately kept in a way for easier access and retrieval in many of the estate firms and agent offices. Consequently, there was a lack of data that spanned the study period in some of the sampled estate firms or agent offices. This data collection challenge was, however, overcome by the excess time spent retrieving the required data for this study to ensure that the findings appropriately answer the research questions.

Inflation and GDP per capita have been found to be significant factors that influence residential RE investment performance in the study areas. Therefore, investors should pay attention to these identified macroeconomic factors for residential RE investment in the study areas whilst making investment decisions in order to mitigate a possible loss of income or return. The government should formulate and implement economic policies that would address the current high unemployment and inflation rates in Nigeria at large.

This study has extended and further enriched the existing body of knowledge in the field of RE investment analysis in Nigeria. To the best of the authors' knowledge, this study is the first to adopt the Cornish Fisher value-at-risk and modified Sharpe ratio models to analyse risk and risk-adjusted returns on residential RE investment, respectively, in Nigeria. It has therefore redirected the focus of RE researchers and practitioners to a more objective approach to RE investment performance analysis in Nigeria.