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Supply and demand approaches to the urban residential property prices determination; transactions evidence from Nigeria Pacific Rim Property Research Journal Pub Date : 2022-09-20 Nurudeen Akinsola Bello, Rasheed Kolawole Alimi, Maimuna Orire Abdulraheem, Adetoye Adepoju
ABSTRACT This study provided an empirical framework that isolates the supply and demand perspectives in urban residential property transactions towards removing the information shield and asymmetry nature of property transaction information in Nigeria. A three-stage classical panel longitudinal design was adopted through feedback from completed transaction data on residential properties from the licensed
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On the American perception of real estate as business: revisiting the ontological project of Julian Diaz III Pacific Rim Property Research Journal Pub Date : 2022-08-22 O.A. K'Akumu
ABSTRACT This paper revisits the ideas of Julian Diaz III that were expressed in his journal article titled, “Science, Engineering, and the Discipline of Real Estate” that appeared in the inaugural volume of Journal of Real Estate Literature in 1993. In this article, Julian Diaz III made a bold attempt to use ontological constructs to help define conceptual boundaries of the real estate discipline
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The dynamics of house price in Vietnam Pacific Rim Property Research Journal Pub Date : 2022-08-21 Thi Kim Nguyen, Tran Nam Quoc, Dinh Thi Thuy Hang, Muhammad Najib Razali
ABSTRACT We have assessed the housing market of Vietnam, with particular apartment prices in 10 urban districts of Hanoi, the capital of Vietnam. Significant determinants of house price include construction cost, income per capita, urban rent expense, and lending rate. Our findings show statistically significant and dynamic determinant effects on the apartment prices of 10 urban districts of Ha Noi
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The structured learning of valuation modelling Pacific Rim Property Research Journal Pub Date : 2022-07-20 Steven Boyd
ABSTRACT Active learning compels non-academic students to employ deeper learning strategies. Unfortunately, established activities to encourage active learning are resource intensive and do not suit physically distanced modes of delivery. This research presents an active learning module and proposes a novel structured approach to enhance the learning and teaching of financial modelling in property
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Compensation for land use deprivation in mining: an analysis of the laws and practices relating to land use deprivation compensation in Ghana’s mining sector Pacific Rim Property Research Journal Pub Date : 2022-04-07 Effah Amponsah, Chris Eves, Dulani Halvitigala, Hyemi Hwang
ABSTRACT This article examines the laws and valuation methods that valuers apply in assessing compensation for land use deprivation in Ghana’s mining sector using two mining companies as case studies. We argue that analysing the valuation techniques applied in assessing compensation for land use deprivation in the context of current legal provisions facilitates a better understanding of the issues
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Housing construction materials and house rent trends in Ede, Nigeria Pacific Rim Property Research Journal Pub Date : 2022-03-15 Dabara Daniel Ibrahim, Chiwuzie Augustina, Guyimu Joshua, Olusola Adekunle Asa, Olusegun Joseph Omotehinshe
ABSTRACT The study examines the relationship between housing construction material prices and house rents in Ede town, Nigeria, from 2002 to 2020 to guide investment decisions. The research was conducted using a questionnaire survey. The study’s population consists of landlords, estate surveyors and valuers, real estate agents, and building material suppliers/sellers in the study area. Data obtained
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On solatium: towards a rethinking of compensation Pacific Rim Property Research Journal Pub Date : 2022-01-19 John Sheehan, Jasper Brown, Kenneth Rayner
ABSTRACT Sovereign governments generally benefit from the capacity to commute private property rights to public ownership in order to undertake projects for the public benefit. When private property rights are compulsorily acquired by Australian governments, the criteria for the assessment of compensation accruing to the dispossessed landowner ordinarily requires consideration of a raft of heads of
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Barriers, drivers and prospects of the adoption of artificial intelligence property valuation methods in practice Pacific Rim Property Research Journal Pub Date : 2021-11-09 Rotimi Abidoye, Junge Ma, Chyi Lin Lee
ABSTRACT Embracing technological advancement in the property valuation practice is unavoidable. However, studies show that valuers largely still adopt traditional methods of valuation. Hence, this study investigates the barriers, drivers, and prospects of the adoption of artificial intelligence (AI) valuation methods in practice. An online questionnaire survey was conducted on valuers practising in
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Policy Agenda Advocacy for the Young-Adult Homeownership in Nigeria Pacific Rim Property Research Journal Pub Date : 2021-10-05 Andrew Ebekozien, Okechukwu Saviour Dominic Duru, Okhatie Emmanuel Dako, Marvelous Aigbedion, Iliye Faith Ogbaini
ABSTRACT Housing affordability in developing cities with an increasing population is a huge challenge and may lead to homelessness if not checked. Studies showed that homeownership at a young age has been demonstrated as a fruitful approach to mitigate homelessness in cities but how far concerning Nigeria’s homeownership for the young-adult professionals is yet to be given the necessary in-depth research
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Financial reporting and valuation treatment of property assets by not-for-profit operators Pacific Rim Property Research Journal Pub Date : 2021-09-27 Lois C. Towart
ABSTRACT The continued presence of not-for-profit (NFP) operators in the residential aged care (RAC) and retirement village industry in Australia adds to its complexity and diversity. This is an industry focused on the delivery of services through specialised property assets, which often have histories going back decades. NFP operators have greater flexibility in financial reporting when compared to
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Determinants of job satisfaction of real estate firms’ employees in Nigeria Pacific Rim Property Research Journal Pub Date : 2021-09-03
ABSTRACT The study investigated the job satisfaction levels of real estate firms’ employees and the relationship between employees’ personal and demographic characteristics and their job satisfaction levels. This is intending to provide information that could enhance better job performance and enhance human resource management in the real estate industry. Data employed for the study was sourced using
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Sentiments in the housing market and the effectiveness of government interventions Pacific Rim Property Research Journal Pub Date : 2021-07-08 Calvin W. H. Cheong, Lisa L. H. Ngui, Shella Georgina Beatrice
ABSTRACT This paper examines the factors that drive the recent growth of house prices in Malaysia. By constructing a housing market sentiment index, we find contemporaneous sentiment to have a strong influence on future housing market returns especially in the short term. Government-introduced cooling measures were ineffective in dampening prices and market sentiment. We also find property developer
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Owned Australian corporate real estate reporting ahead of IFRS 16 Pacific Rim Property Research Journal Pub Date : 2021-03-26 Christopher Heywood
ABSTRACT International Reporting Financial Standard (IFRS) 16 aims to improve transparency in reporting Corporate Real Estate (CRE) commitments. Aimed at leasehold issues, its introduction may affect CRE ownership as leasing’s off-balance sheet benefits disappear. Ownership results from a large Australian CREstudy are reported. 2016 Annual Reports were analysed, as this predates the standard’s implementation
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An examination of house price movements in Queensland resource communities Pacific Rim Property Research Journal Pub Date : 2021-02-23 Theodore Connell-Variy, Tony McGough
ABSTRACT Successive mining “booms” have created wide-ranging, long-term socioeconomic impacts in many parts of Australia. Property markets were both directly and indirectly affected by the mining booms. Towns associated with mining activities experienced significant, rapid shifts in supply and demand levels for housing as well as changes to the amount and type of development occurring. The most recent
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Australian corporate real estate lease reporting ahead of IFRS 16 Pacific Rim Property Research Journal Pub Date : 2021-02-18 Christopher Heywood
ABSTRACT To improve the transparency of companies’ financial commitments the International Financial Reporting Standard (IFRS) 16 requires companies to report their leased corporate real estate (CRE) on their balance sheets from 1 January 2019. This paper reports Australian CRE balance sheet lease reporting ahead of IFRS 16. This is the first time this has been reported and is also a baseline to evaluate
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Causal effects of macroeconomic predictors on real estate investment trust’s (REIT’s) performance in Nigeria Pacific Rim Property Research Journal Pub Date : 2021-01-18 Olusegun O. Olanrele, Oluwatosin B. Fateye, Tomisi O. Adegunle, C. A Ajayi, Rosli Said, Kurannen Baaki
ABSTRACT The paper examined the causal effects of macroeconomic predictors on the dividend return performance of the Nigerian Real Estate Investment Trusts (N-REITs) the macroeconomic indicators considered was interest rate (INTR), an exchange rate (EXGR), inflation rate (INFR), market capitalisation (MKCP) and all share index (ASI). The study is quantitative based on secondary data collected from
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Condominium price dynamics in Sri Lanka: correlation with inflation and periods of concern Pacific Rim Property Research Journal Pub Date : 2020-12-09 Pattiyage I. A. Gomes, Vasudevan Yathushan
ABSTRACT This study conducted in Sri Lanka’s commercial capital – Colombo, investigated temporal variation of condominium prices from 1998 to 2018, to identify price – inflation relationships and periods of concern. The price increased non-linearly with time without abnormal trends. Unit root, cointegration and vector error correction method tests showed inflation can explain temporal variation of
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Bundling and splitting: workspace tenure in two vectors Pacific Rim Property Research Journal Pub Date : 2020-01-02 Ann Godfrey
ABSTRACT The Bundling and Splitting Matrix is a conceptual framework of real property tenure. It is used here to derive hypotheses as to the effects of two principal-agent problems: adverse selection and moral hazard on commercial office workspace energy performance under differing tenure types. The purpose of testing these hypotheses, in future research, is to inform disclosure policy. Disclosure
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Home is where the health is: New Zealand responses to a “healthy” housing crisis Pacific Rim Property Research Journal Pub Date : 2020-01-02 Rochelle Ade,Michael Rehm
ABSTRACT It is accepted in both popular culture and the academic literature that ‘cold and damp’ housing leads to poor health outcomes for occupants. Many solutions have been proposed to remedy this from voluntary healthy home checklists, green building ratings tools to mandatory government legislation. This study reviews the responses comparing the different mechanisms and drawing conclusions about
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Climate zones, energy efficient technologies and advertising: what are residential real estate agents saying? Pacific Rim Property Research Journal Pub Date : 2020-01-02 Neville Hurst,Dulani Halvitigala
ABSTRACT Energy used in housing is a major contributor to Australia’s energy consumption. The country’s vastness leads itself into a broad range of climate conditions and each climate zone demands different energy efficient characteristics in housing. Real estate agents play an active role in motivating buyers in purchasing energy efficient housing through advertising. The objective of this research
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Possibilities and challenges of sustainable condominium development in Thailand: an analysis through the circle of blame concept Pacific Rim Property Research Journal Pub Date : 2020-01-01 Niti Rattanaprichavej
The main objective of this research is to survey the attitudes of project developers, investors, consumers (residents and prospective buyers), and architects involved in the sustainable development...
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Home is where the health is: what indoor environment quality delivers a “healthy” home? Pacific Rim Property Research Journal Pub Date : 2019-12-30 Rochelle Ade, Michael Rehm
This study uses critical discourse analysis to review the belief structure surrounding cold and damp housing in New Zealand (NZ) finding that a strong belief structure exists in the NZ psyche that ...
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The value of a tram station on local house prices: an hedonic modelling approach Pacific Rim Property Research Journal Pub Date : 2019-09-02 David M Higgins, Alireza Rezaei, Peter Wood
ABSTRACT There are many drivers of house prices. In urban locations, public infrastructure is considered one of the leading determinants. To explore this relationship, an Hedonic house pricing model was applied to an established Birmingham, the UK working class residential area which is serviced by the Metro Midland tram line. The selected Wednesbury Great Western Street station provides ease of access
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A content validity study of the test of valuers’ support for capturing sustainability in the valuation process in Nigeria Pacific Rim Property Research Journal Pub Date : 2019-09-02 Abayomi Ibiyemi, Yasmin Mohd Adnan, Md Nasir Daud, Segun Olanrele, Abiodun Jogunola
ABSTRACT Property valuers’ support for sustainability has a significant impact on the resolution to reflect its dimensions in the valuation process. The study presents the content domain of the valuers’ perception of sustainability reporting in Nigeria for the purpose of identification and eliciting the character. Based on informed judgment, it engages a panel of 5 experts who possess expertise in
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Community heritage discourse (CHD): a multidisciplinary perspective in understanding built heritage conservation Pacific Rim Property Research Journal Pub Date : 2019-09-02 Johari H.N. Amar, Lynne Armitage
ABSTRACT Despite increasing efforts to protect cultural built heritage, destruction continues and impediments to effective heritage management remain. One solution calls for drawing on a broader stakeholder base to minimise barriers to better built heritage conservation. Whilst much remains to be done, there is evidence of enhanced stakeholder co-operation for reforms that could bring broader insights
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Modelling the effects of affordable housing ‘sticks’ and ‘carrots’ for developer-delivered projects Pacific Rim Property Research Journal Pub Date : 2019-09-02 Georgia Warren-Myers, Erryn McRae, Katrina Raynor, Matthew Palm
ABSTRACT The literature suggests both “Stick” and “Carrot” initiatives can encourage property developers to include Affordable Housing in their developments. Such initiatives include affordable housing contributions or requirements (the stick) and land cost subsidies, density bonuses, access to low-interest finance, reduced planning timeframes and reduced car parking requirements (the carrots). Despite
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The effect of firm characteristics on the prime office accommodation decision Pacific Rim Property Research Journal Pub Date : 2019-09-02 Mariko Kimura, Christopher Heywood, Kimberly Winson-Geideman
ABSTRACT This paper examines whether firm characteristics are significant determinants in leasing decisions of Australian corporate occupiers. A logistic regression is used to examine the significance of industry, company size and geographic reach of 127 ASX300 corporate occupiers on the prime or non-prime corporate office accommodation decision in Melbourne, Australia. Findings indicate that certain
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The price of a view: estimating the impact of view on house prices Pacific Rim Property Research Journal Pub Date : 2019-05-04 Ajith S. Jayasekare, Shanaka Herath, Rohan Wickramasuriya, Pascal Perez
ABSTRACT Houses with desired aesthetic views have a price premium over similar houses without such views. This article raises the following questions in relation to view as a location-specific amenity: How can we calculate a reliable indicator for view using available information? Are dwellings with a view sold for a premium compared to otherwise similar properties? Using more than 5,000 house transactions
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Analysing the desired quality of housing in the Klang Valley region, Malaysia Pacific Rim Property Research Journal Pub Date : 2019-05-04 Jeffrey Boon Hui Yap, Pui Si Yong, Martin Skitmore
ABSTRACT Housing is crucial for realising the basic requirements of people; it provides a shelter and people spend most of their daily activities in the locality. This study seeks to examine the quality attributes influencing the value of housing and their effect on housing prices according to generation cohorts and affordable housing prices. Twenty-one housing quality factors are first identified
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Remedies to inaccessibility of low-cost housing loan in Malaysia: using the qualitative approach Pacific Rim Property Research Journal Pub Date : 2019-05-04 Andrew Ebekozien, Abdul-Rashid Abdul-Aziz, Mastura Jaafar
ABSTRACT Studies have shown that low-income earners (LIEs) faced encumbrances in gaining access to housing finance. Therefore, this study investigated the root-cause of inaccessibility of housing-loan and proffer pragmatic policy solutions so that Malaysian LIEs can access housing-loan to purchase homes via qualitative insight. To achieve this, 40 face-to-face oral interviews were conducted and validated
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A comparative study on the value of scenic views between an inland and a coastal city in Korea Pacific Rim Property Research Journal Pub Date : 2019-04-29 Taeyun Jeong, Sae Woon Park, Sunhae Lee
ABSTRACT This study estimates hedonic house price models for an inland city of Seoul and a coastal city of Pusan using spatial regression with successful bidding price data of court auction during the period from January 2006 to December 2014. Among hedonic attributes such as floor area, building age, total floor level, living floor level, direction of the window of the living room, proximity to natural
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The compensation catapult Pacific Rim Property Research Journal Pub Date : 2019-01-02 John Sheehan, Jasper Brown
ABSTRACT Australian property law has steadily evolved to facilitate the recognition of new or previously unrecognised property rights. Concurrently, modern property rights have become increasingly complex. This evolution of property rights has had fundamental implications when addressing compensation for the impairment or acquisition of land (Indigenous or non-Indigenous) by government. Indeed as understanding
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The value-added role of sector-specific REITs in Australia Pacific Rim Property Research Journal Pub Date : 2019-01-02 Yu Cheng Lin, Hyunbum Cho, Chyi Lin Lee
ABSTRACT Australian sector-specific REITs (A-REITs) have grown significantly in recent years. This raises the issue of whether sector-specific A-REITs play a value-added role compared with diversified A-REITs. Despite the rapid growth of sector-specific A-REITs, limited studies have been devoted to it. Hence, this study aims to compare sector-specific A-REITs with diversified A-REITs by assessing risk-return
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Professional socialisation (PS) of Malaysian real estate undergraduates Pacific Rim Property Research Journal Pub Date : 2019-01-02 Hasniyati Hamzah, Kamalahasan Achu
ABSTRACT In a borderless economy underlined by increased regional labour mobility, enhanced Real Estate professionals would benefit the Malaysian real estate industry. Little is known about how undergraduates undergo professionalisation during their university education. New entrants to a profession acquire the necessary values, attitudes, skills and knowledge through the process of professional socialisation
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LIBOR and interest rate spread: sensitivities of the Australian housing market Pacific Rim Property Research Journal Pub Date : 2019-01-02 Martin Hinch, Michael McCord, Stanley McGreal
ABSTRACT This paper analyses the margin between the Cash Rate Target and LIBOR, and its relationship with house price variation in Australia. The research spans 24 years utilising monthly data to analyse the relationship between Australian house price and LIBOR/CRT spreads. Data are drawn from several sources before the time series is sub-divided into splines forming different stages of the housing
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Exploring gaps between real estate curriculum and industry needs: a mapping exercise Pacific Rim Property Research Journal Pub Date : 2018-09-02 Abdul-Rasheed Amidu, Osahon Ogbesoyen, Alirat Olayinka Agboola
ABSTRACT The objective of this paper is to explore the extent to which current real estate academic curriculum align with industry needs in order to identify key areas for reform. A case study of four Universities was undertaken in the study. These cases were randomly selected from the Midlands, Northern and Southern parts of the UK. Data for the study was collected through a desk-top review of real
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Low-cost housing leakages in Malaysia: the unexplored dimension Pacific Rim Property Research Journal Pub Date : 2018-09-02 Andrew Ebekozien, Abdul-Rashid Abdul-Aziz, Mastura Jaafar
ABSTRACT Over the years, the Malaysian Government and private housing developers have been providing low-cost housing (LCH) yet the demand-supply gap is on the increase. Hence, this paper investigates the LCH leakages in Malaysia in an unexplored dimension. This was done sequentially, first, findings from the qualitatively explored phase was further tested and analysed via a questionnaire survey. The
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Resident’s Perception of the health impact in living proximity of telecommunication base station: A case study of Malaysia Pacific Rim Property Research Journal Pub Date : 2018-09-02 Norazmawati Md Sani, Kai Xin Tay
ABSTRACT The location of telecommunication towers is of particular public concern due to the dread of potential health peril from the electromagnetic field (EMFs) emitted by these devices. This paper outlines the results of a case study to determine residents’ perceptions towards living near telecommunication towers in Malaysia, and how they evaluate the health impacts of these structures. The results
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Balancing the scales of property rights: improving security of tenure for Queensland tenants – how and why Pacific Rim Property Research Journal Pub Date : 2018-09-02 Lucy Margaret Cradduck
ABSTRACT Housing is a primary requirement of life and so home ownership remains the ideal for most people. However, not everyone is able to, or wants to, own their own home. These individuals depend upon rental accommodation as their form of home tenure with the number of individuals and families who live in rented accommodation steadily increasing. Ensuring that residential tenants have security of
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Regime-dependent linkages between securitized real estate market and major financial markets: some international evidence Pacific Rim Property Research Journal Pub Date : 2018-09-02 Kim Hiang Liow, Qing Ye
ABSTRACT We employ Markov regime-switching approach to explore the regime-dependent linkages between securitized real estate market and stock, money, bond and foreign exchange markets for 10 economies. During high-volatility periods in securitized property markets, stock market return, and to some extent, changes to foreign exchange market rates impose stronger and positive impact on securitized real
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The balance sheet and valuation treatment of retirement living and aged care assets Pacific Rim Property Research Journal Pub Date : 2018-06-06 Lois C. Towart
ABSTRACT Accounting standards, legislative framework and industry conventions govern how investment vehicles report their financial position. The aim is for transparent and timely reporting, enabling investors to make decisions. Australian real estate investment vehicles follow these standards, framework and conventions. Retirement Living and Aged Care (RLAC) investment vehicles are an emerging asset
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Critical success factor for partnership in low-cost apartments project: Indonesia perspective Pacific Rim Property Research Journal Pub Date : 2018-04-25 Farida Rachmawati, Ria Asih Aryani Soemitro, Tri Joko Wahyu Adi, Connie Susilawati
Abstract Accessibility to low-cost apartments for migrant workers is a key housing problem in East Java Province, particularly in Surabaya, which results in the housing backlog. Indonesian Ministry government has constructed low-cost apartments in local Government’s asset land and has initiated the housing finance policy to support mortgage loan. However, the existing low-cost apartments are located
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Analysis of land speculation in the urban fringe of Lagos, Nigeria Pacific Rim Property Research Journal Pub Date : 2018-04-19 Esther Oromidayo Thontteh, Jacob Adejare Babarinde
Abstract This study investigates and analyses factors motivating land speculators operating in the urban fringe of Lagos, Nigeria. The paper, in addition to contributing to literature, is the first known attempt to study the behaviour of land speculators in the urban fringe of a growing African megacity with a population in excess of 17 million. Between September and December 2016, two questionnaire
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Variation in compensation for compulsory property acquisition: Ondo State, Nigeria experience Pacific Rim Property Research Journal Pub Date : 2018-04-18 Victor Olutope Ige, Rasidat Adejoke Oladapo
Abstract The purpose of this paper is to assess the variation in compensation offered to claimants by the acquiring authority and the value arrived at by the Consultant Private Valuers, following the acquisition of private properties for road widening project in Owo, Ondo State, Nigeria. Paired-samples T-test was adopted in comparing the means between compensation offered to the affected property owners
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Benchmarking developed property portfolio markets in Malaysian-listed property companies Pacific Rim Property Research Journal Pub Date : 2018-04-16 Nurul Afiqah Azmi, Muhammad Najib Razali, Rosli Said
Abstract This paper aims to benchmark the level of performance and volatility of Malaysian-Listed Property Companies (MLPCs) within developed countries over the period January 1994 to December 2014. This research seeks to analyse property portfolio investment performances as well as volatility levels using advanced empirical analyses such as the Autoregressive Conditional Heteroskedasticity (ARCH)
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Australian interest rate movements and A-REITs performance: an analysis by industry sector Pacific Rim Property Research Journal Pub Date : 2018-01-02 Wejendra Reddy, Woon-Weng Wong
Abstract Investment managers have traditionally resorted to the Australian real estate investment trusts (A-REITs) as a means to growing portfolio return. The A-REITs have been popular for yielding some of the best returns until 2007, when the global financial market (GFC) collapse led to major fall in values. Since the GFC, with low interest rates the A-REITs have performed well compared to the broader
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Assessing the relative importance of structural and locational effects on residential property values in Metropolitan Kuala Lumpur Pacific Rim Property Research Journal Pub Date : 2018-01-02 Mohd Faris Dziauddin, Zulkefli Idris
Abstract This paper assesses the relative importance of structural and locational attributes on residential property values in Metropolitan Kuala Lumpur. A computer-intensive algorithm known as LMG method was used in the analysis. Results suggest that Metropolitan Kuala Lumpur property values are mainly determined by the structural attributes which explain 62% of price variations, and the locational
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Improving property valuation accuracy: a comparison of hedonic pricing model and artificial neural network Pacific Rim Property Research Journal Pub Date : 2018-01-02 Rotimi Boluwatife Abidoye, Albert P. C. Chan
Abstract Inaccuracies in property valuation is a global problem. This could be attributed to the adoption of valuation approaches, with the hedonic pricing model (HPM) being an example, that are inaccurate and unreliable. As evidenced in the literature, the HPM approach has gained wide acceptance among real estate researchers, despite its shortcomings. Therefore, the present study set out to evaluate
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Bridging skill gap in real estate education in Nigeria Pacific Rim Property Research Journal Pub Date : 2017-12-26 Timothy Tunde Oladokun, Abel Olaleye
Abstract Purpose: The importance of education is always underscored without adequate demonstration of skill(s) for practice. Appropriate professional skills guarantees efficient real estate investment decision making and prevents loss of investment fund. The study evaluated, from the perspective of employers of labour, the effort of the government, through students, industrial scheme, at bridging skill
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Evaluating the investment performance of Australian retirement living and aged care assets Pacific Rim Property Research Journal Pub Date : 2017-12-06 Lois C. Towart
Abstract In Australia, the Retirement Living and Aged Care (RLAC) sector lacks a historic benchmark performance metric. Institutional investors utilising modern portfolio theory require such benchmarks for making future decisions. It has been considered that this lack of a benchmark has hindered investment in the RLAC sector. This paper evaluates historical investment performance of listed entities
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How gameplay can enhance learning and engagement for first year property students: a case study using Monopoly CityTM Pacific Rim Property Research Journal Pub Date : 2017-11-13 Lyndall Bryant
Abstract This article outlines the results from a study into the educational use of the board game Monopoly City™ in a first-year property economics unit. Gameplay was introduced as an interactive way of achieving a number of desired outcomes including: enhanced engagement of first-year students; introduction of foundation threshold concepts in property education; introduction of problem solving and
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Bangkok four-star hotels’ Average Daily Rate (ADR) prediction model Pacific Rim Property Research Journal Pub Date : 2017-09-02 Kongkoon Tochaiwat, Warakorn Likitanupak
Abstract This research aims to propose a prediction model for the Average Daily Rate (ADR) for Bangkok four-star hotels. The model was developed using the hedonic price model, which was calculated from 158 four-star hotels in Bangkok. The variables in the model were derived from a literature review and suggested by an expert panel. Factor Analysis was adopted to merge the highly correlated variables
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The influence of rapid rail systems on office values: A case study on South Africa Pacific Rim Property Research Journal Pub Date : 2017-09-02 Douw G. B. Boshoff
Abstract This study identifies the influence of rapid rail systems on property values, with a focus on office buildings in South Africa. It is based on a limited sample of office properties, analysed using MRA to investigate pre-implementation values and rent to post-implementation data. It attempts to confirm if distance from the train stations influences these variables. Evidence is found that distance
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Legislative policy environment as facilitator of foreign residential investment in Australia Pacific Rim Property Research Journal Pub Date : 2017-09-02 Sacha Reid, Eddo Coiacetto
Abstract Significant changes to Australian foreign investment policy were enacted in December 2015 affecting how foreigners can purchase property. Therefore, it is timely to examine the role of legislative policy in supporting and shaping foreign investment in residential real estate. This paper contributes to the body of knowledge about the scale, extent and nature of foreign investment in residential
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Foreign direct investment in the UK real estate market Pacific Rim Property Research Journal Pub Date : 2017-09-02 Joanna Poon
Abstract The aim of this paper is to identify the key factors affecting foreign real estate investment (FREI) in the UK, with a particular focus in London. The panel regression method was used as a data analysis approach for this paper. Two panel regression equations were developed. The first equation has five explanatory variables including GDP, wage, property price, land price and interest rate.
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Announcement effects of dividend tax cuts and corporate policies: evidence from Malaysia REITs Pacific Rim Property Research Journal Pub Date : 2017-03-16 Woei-Chyuan Wong, Kamarun Nisham Taufil Mohd, Nur Adiana Hiau Abdullah
Abstract This study examines the effect of dividend tax changes on the share prices and corporate policies of Malaysian REITs. Event study results show that dividend tax cut announcements provide positive abnormal returns. Based on cross-sectional regression, the abnormal returns are found to be larger for REITs with a higher retail ownership. The implementation of dividend tax cuts also increases
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Australian cultural built heritage: stakeholders’ perceived conservation barriers and motivations Pacific Rim Property Research Journal Pub Date : 2017-03-14 Johari H. N. Amar, Lynne Armitage, Daniel O’Hare
Abstract Stakeholders are recognised as drivers of effective conservation of cultural built heritage. Yet, as stakeholders have eclectic views in terms of their interest in, knowledge of and perceptions about the management of historic fabric, their practices are often diverse. The objective of this paper is to gain an understanding of the stakeholders’ views drawn from relevant professional field
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Valuers’ receptiveness to the application of artificial intelligence in property valuation Pacific Rim Property Research Journal Pub Date : 2017-03-09 Rotimi Boluwatife Abidoye, Albert P. C. Chan
Abstract Studies have shown that the level of valuation inaccuracy in Nigeria is higher than the acceptable international standard. This may be linked to the preference for traditional valuation approaches. This study investigates the readiness of Nigerian valuers to adopt the artificial intelligence (AI) property valuation techniques that have proven to be reliable and accurate in property valuation
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The dynamic effect of population ageing on house prices: evidence from Korea Pacific Rim Property Research Journal Pub Date : 2017-03-09 Soonyoun Park, Sae Woon Park, Heeho Kim, Sunhae Lee
Abstract This study empirically analyses how population ageing affects house price using sample data of six metropolitan cities and seven provinces of Korea over the time period from 1990 to 2014. Panel regression results show that economic and demographic factors such as real GRDP per capita and the dependency ratio affect real house prices significantly. However, total population is not statistically
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Quantifying changes in risk perception through house price differentials following the catastrophic Canterbury earthquake event Pacific Rim Property Research Journal Pub Date : 2017-01-02 Callum Logan
Abstract Studies of risk perception across multiple disciplines conclude similar findings, one of which is that the perceived risk of extreme and rare events, such as earthquakes, is underestimated before the event and overestimated after the event occurs. This paper examines whether this change in risk perception is detected in price differentials for housing. A Difference-in-Difference (DID) model