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The study aims to build up knowledge for collateral exploration of the classical Delphi survey method for assessing the industrial sustainability-related correction factor using a real field study in Nigeria.

The paper elicits the character and the operational approaches using an example study to provide a critical review of the method. It estimates the correction factor for appraisal purposes by transforming expert opinion into a valid group consensus.

The work considers the specific parameters of the method, design and analysis for interpretation to prove the reliability and the validity for the research results. Moreover, it emphasises that the validity of the traditional Delphi research demands cautious theoretical and practical applications by the coordinating researcher. The paper establishes the current validity and effectiveness of the classical Delphi method of foresight and streamlines their efficient implementation for theory building despite its numerous weaknesses.

It explores desirable futures for the method while analysing what is possible and probable.

The aspects of sustainability are often not considered explicitly in property valuation. The purpose of this paper is to investigate the structural relationships between valuers’ support for integration of industrial sustainability into property valuation process in Nigeria and their knowledge perceptions about the potential sustainability benefits.

The paper compares the results of the respondents’ evaluation of the models and indicators for modelling the study population. Data were obtained from 267 real estate firms from three core Nigerian cities. The conceptual framework was developed and pattern matrices for factor indicators were extracted for the predictions and hypothesis testing using the partial least squares–structural equation modelling.

Perceived lowering of risks and cost savings are the significant predictors of the valuers’ support system (BLR→SUP (t=12.181); BCS→SUP (t=2.078)>1.196). The findings challenge the conceptual expectations as prospects of high building value, improved productivity gains and quality of life have no significant factor loadings. Moreover, potential improvement to the quality of life is not a significant mediator.

Testing the knowledge-support systems in sustainability and property valuation could help bridge the knowledge gap in property sustainability studies.

This study presents evidence that can aid in decision making regarding public and private efforts to define sustainability knowledge requirements for the valuers and other stakeholders.

The current investigation finds that there is insufficient sustainability knowledge among the valuers. Thus, these analytical procedures can be used to predict sustainability scenarios at a global level.

With the impending development of green buildings in Kuala Lumpur, the capital city of Malaysia, managing the criteria within the requirements of the rating tool’s certification shall be the responsibility of the respective parties when these buildings are in operations. In tenanted buildings, a lease agreement spells out the responsibilities of the owner/landlord and the tenants. The paper aims to discuss these issues.

The main aim of this study is to gauge the implementation of green lease among office buildings in Kuala Lumpur. This is made through an initial review of the adoption of green building criteria as well as the determination of the drivers and barriers perceived by office building managers in implementing green lease.

A survey amongst the managers of top grade office buildings in Kuala Lumpur revealed that the majority practiced some of the green criteria outlined in the Green Building Index. It also revealed that the most significant green lease terms commonly acknowledged by the respondents were energy and water-saving consumption as well as recycled material usage.

Through the identification of the barriers to implement green lease, the most significant barriers identified were related to cost and financing. Having identified these obstacles, appropriate action can be taken to bring forward green lease awareness amongst the various stakeholders in the office building sector in ensuring the successful operation of green buildings.

In housing, mass customisation is increasingly seen as a useful innovation for promoting customer satisfaction and thus for contributing to the long-run sustainability of the housing industry. A major stimulus has been the escalation in competition among housing developers in response to the increase in housing consumers' want for individuality in their purchased properties. However, in the absence of confirmatory evidence, the presumed consumers' want for individuality has remained only as a perception until now. In quest for the evidence, an empirical investigation was conducted recently through a questionnaire survey that involved housing consumers, both existing owners and prospective purchasers, in four centres of population across Peninsular Malaysia. This paper presents the findings from the survey. The evidence that was found supports the conclusion that mass customised housing is very much a way forward in Malaysia. The findings show that while buyers' dissatisfaction with current developer-delivered housing has led to a desire or preference towards customised house, buyers' satisfaction with existing situation has not weakened the desire. In the context of Malaysia, this study is important to the development of mass customised housing since it has examined market readiness on the demand side, one of the critical criteria for the concept to be successful in the country.

The study on how macroeconomic factors affect non-performing loans (NPLs) have not been focussed on property loans, which had been amongst the largest contributor of NPLs in many countries. At the same time, whilst there are many studies that focusses on NPLs during the recession and financial crises, not many studies focus on how macroeconomic factors affect property NPLs in a recovering economic environment. The purpose of this study seeks to fill the gap by analysing the relationships between gross domestic product (GDP), interest rates, income, foreign direct investments (FDI), housing prices and taxes on property NPLs with Malaysia as a case study in which NPLs rose for the first time after declining for almost a decade since the 2008–2009 global financial crisis. This study aims to understand the dynamics and direction of causation in relationships.

The author uses the auto regressive distribution lag analysis between the independent variables of GDP, interest rates, housing prices, service taxes, percapita income and FDI affecting the dependent variable of property NPLs from 2009 to 2017, during a unique period of recovering economic environment where NPLs rose for the first time in almost a decade of decline.

This study found that interest rates, housing prices, income, GDP and service taxes were found to possess long cause effects and long run elasticity with NPLs. At the same time, interest rates were found to implicate property NPLs significantly in longer periods, followed by GDP, housing prices, service taxes and income. FDIs were found to be insignificantly negative in implicating property NPLs in the long run.

This paper allows policymakers to understand the dynamic implications of crucial macroeconomic factors in affecting NPLs so that appropriate strategic monetary policies could be formulated towards addressing them. More focus shall be given to addressing the long term implications of these factors on NPLs.

Appropriate strategic monetary policy making can be channelled towards addressing these factors via understanding the short and long term implications of macroeconomic variables on property NPLs. Policymakers can take note of the long cause effects and long run elasticity of average interest rates, housing prices, income levels, GDP and service taxes with property NPLs so that appropriate long term policies can be addressed to control the rise of property NPLs in the country. At the same time, priority should be given towards strengthening of the GDP of the country due to its strongest impact in long term effects with reduction of NPLs in the country.

The insights from the present study suggest policymakers interested in bringing stability in the real estate finance system need to account for the various macroeconomic variables found in this study.

The paper is novel on at least two dimensions. First, this study involves focussing on a unique period of recovering economic environment where NPLs rose for the first time after a decade of decline since recovering from the 2008–2009 global financial crisis. At the same time, this study focusses on property NPLs, which is unique in nature compared to general NPLs. This study had enabled policymakers to better understand the dynamic implications of several macroeconomic variables affecting property NPLs and assist them in strategic monetary policy making.

The purpose of this study is to estimate different data models on house prices using statistical models and the variables which are controlled by real estate policy.

This study used several statistical techniques, such as Vector auto-regression (VAR), Johansen co-integration and variance decomposition, which aim to assess the significant effect of macroeconomic factors on Chinese house prices.

The results show that land supply and other variables have negative effects on house prices. The results also indicate that financial mortgages for real estate have positive effects on house prices and the area of vacant houses as well as the area of housing sold.

This study only covers three cities in China because of limitations of data for other cities.

This study proposes policy suggestions according to the empirical results obtained.

The purpose of this paper is to identify the important property specific criteria for office occupation decision making by tenants of purpose built office buildings in Kuala Lumpur, Malaysia. It attempts to provide more definitive information on office space occupation to prospective property marketers, managers, owners and investors.

A questionnaire survey was conducted to identify the important criteria which were earlier selected by expert panels. The outcome was then analysed through the principal component analysis and importance factor index adopted from an earlier study. The findings from the survey can then be used to examine the relative importance of the identified criteria through the use of a multi criteria decision making (MCDM) technique.

Four main criteria could be identified under the property specific criteria. Six of the “building features, services and management” attributes have higher rankings than the attributes under the “financial” considerations, mainly rent. the high rank attributes under the main criteria of “location” relate to the prestige and accessibility of the building while the high rank criteria under the main “lease” criteria relate to the monetary considerations of the lease arrangement. The high rank criteria under the main criteria of “building features, services and management” relate to the management and building services rather than the design/space provision.

The study area is confined to Kuala Lumpur city centre commercial area and covers prime office buildings.

Office occupation studies have been established in developed countries but are very limited in Malaysia. This study attempts to relate to the current office market developments and to seek the preferences of the various categories of tenants at a later stage.

The purpose of this paper is to examine the impact of using information and communication technology (ICT) on retail property in Malaysia. It also examines what listed property companies perceive in terms of the implications of using ICT in the retail property sector in Malaysia.

Data were collected from sample surveys completed by 79 property companies listed on the Bursa Malaysia (formerly known as the Kuala Lumpur Stock Exchange). An ICT retail impact matrix was then developed to assess the significance of ICT on retail property in Malaysia.

The findings of the study revealed that ICT would have only a minor impact on retail property in Malaysia and that there would still be a need for the traditional means of conducting a retail property business. It also found that the listed property companies were ready to implement ICT applications and that the demand for retail property would still increase in Malaysia in the future.

Only 66 percent of listed property companies in Malaysia (the respondents) participated in the study.

This paper seeks to look at the impact ICT has on retail property in Malaysia. For this purpose, an ICT retail impact matrix was developed to assess this impact. As such, this study will be used as a benchmark for future ICT studies relating to retail property and the real estate sector in Malaysia.

The concept of sustainability has become increasingly essential to property development, especially in recent years. The purpose of this paper is to assess the level of sustainability practices among listed property companies in Malaysia.

Using content analysis, company websites and annual reports, the level of sustainable practices among property companies in Malaysia will be examined and assessed. The paper will also rigorously assess the sustainability strategies employed by using an attributes scorecard, which takes into account several attributes concerning sustainability issues.

The findings have showed sustainable property development concept among listed property companies can be categorised as low level, although this is increasing.

Given the increasing significance of sustainability issues – especially in property development – this paper provides a more informed investment decision strategies regarding the implementation of the sustainability concept in property portfolio; a consideration that has increasingly come into focus amongst international property actors.

This purpose of this paper is to investigate the current level of transparency based on the customised transparency matrix (TM) amongst the top listed property companies in Malaysia, based on capital market value. Furthermore, this paper discusses the concept of transparency from the perspective of Malaysian property markets.

Data for this research were collected from the top 30 property companies in Malaysia through their annual reports and corporate websites. The indicator of transparency was developed based on various literature surveys and other research findings. Using the developed indicators, the study analysed the transparency attributes from TM of the top 30 listed property companies in Malaysia.

In terms of transparency levels and widely implemented transparency elements, the findings revealed that Malaysian property companies were within a “good level” range.

The research is based on a study of the top 30 listed property companies in Malaysia based on market capital values as at 30th June 2010.

This paper examines the transparency level of property companies in Malaysia based on each company's current annual report. The findings provide some insights and guidelines for the industry as well as academics on the transparency level particularly in Malaysian property business.