scholarly journals Transformation of the real estate and construction industry: empirical findings from Germany

2020 ◽  
Vol 90 (7) ◽  
pp. 975-1019 ◽  
Author(s):  
Andreas Pfnür ◽  
Benjamin Wagner
Keyword(s):  
Real Estate ◽  
Construction Industry ◽  
Value Creation ◽  
Business Models ◽  
Service Providers ◽  
Adaptation Strategies ◽  
Real Estate Industry ◽  
The Real ◽  
The Real Estate ◽  
The Impact

Abstract The German real estate and construction industry is facing a transformation, triggered by fundamental changes in technology, the economy and society. The purpose of this paper is to explore how these changes exert pressure to adapt on existing business models, while also offering opportunities for their further development. A model that attributes the transformation of the real estate industry to megatrends, specific structural change drivers, business models and the interaction of the groups of players in the value creation system is developed. The model is tested empirically by a survey. Structural equation modelling is used to measure the impact of various determinants of transformation and the relevance of adaptation strategies to the different groups of players. As a result, the study explains three impact mechanisms of the transformation in the real estate industry. The transformation originates from the occupiers, who need more flexible space and are focusing on holistic solutions that are not provided by the real estate industry. Service providers are striving to increase the efficiency of their traditional processes, rather than evolving new business models or services. The investors recognise the increasing importance of the occupiers but they are rarely pursuing the resulting strategies. Property developers recognise these requirements: their adaptation strategies most strongly question their previous business. For practitioners, the results point out the opportunities and risks of transformation and help to illustrate the need for change. For academicians, the results indicate a way to explain and measure the transformation of a value creation system.

The state of value creation in the real-estate sector – lessons from lean thinking

2014 ◽  
Vol 32 (1) ◽  
pp. 28-47 ◽  
Author(s):  
Tuuli Jylhä ◽  
Seppo Junnila
Keyword(s):  
Real Estate ◽  
Value Creation ◽  
Service Providers ◽  
Added Value ◽  
Lean Thinking ◽  
Content Type ◽  
The Real ◽  
The Real Estate ◽  
Real Estate Sector

Purpose – Although great emphasis has been given to the added value of real estate, the current studies miss the phase when the actual value is created, i.e., the production phase of real-estate services. Therefore, the purpose of this paper is to evaluate the current state of value creation of the commercial real-estate services from a lean thinking perspective. Design/methodology/approach – Value creation is studied in four Finnish cases through 122 interviews and eight workshops. Findings – Cross-case analysis identified six sources of waste resulting as poor value creation: sub-process optimisation instead of optimising the entire process, the price minimisation instead of cost minimisation, difficulties responding to customer value, overloaded employees, inability to make improvements, and poorly managed information. Research limitations/implications – Although the findings are grounded on a solid data collection and analysis, the case study nature of the research and the Finnish case study settings create limitations for the generalisation of the findings. Practical implications – Service providers and other process owners can use the findings to improve their value creation and increase the productivity of their service processes. Originality/value – This is one of the first research studies that utilise lean thinking in commercial service processes in the real-estate sector and thus provides new insight into how to increase productivity through waste minimisation.

scholarly journals The Impact of Property Tax on the Development of Real Estate Industry

2021 ◽  
Vol 4 (3) ◽  
pp. 73-75
Author(s):  
Ruoke Hu ◽  
Fangke Li
Keyword(s):  
Real Estate ◽  
Rapid Development ◽  
Housing Prices ◽  
Property Tax ◽  
Real Estate Industry ◽  
High Property ◽  
The Real ◽  
The Real Estate ◽  
Significant Growth ◽  
The Impact

In recent years, due to the rapid development of the real estate industry in China, land speculation has begun in addition to the significant growth in economy. However, this rapid development has led to an extreme rise in housing prices, largely owing to high property tax. This article analyzed the impact of property tax on the development of real estate industry and provided countermeasures.

scholarly journals Digital Technology And The Real Estate Industry

2019 ◽  
Vol 9 (2) ◽  
Author(s):  
Mohd Lizam
Keyword(s):  
Real Estate ◽  
Business Process ◽  
Digital Technology ◽  
Real Estate Industry ◽  
The Real ◽  
The Real Estate ◽  
Technological Impact ◽  
Start Ups ◽  
The Impact ◽  
Organisational Strategy

This paper briefly summarises the extent of the technological impact on the real estate industry, in particular, digital technology. As real estate industry is naturally characterized by several disadvantages in comparison to other industry, understanding the impact of digital technology is crucial to the industry on whether this technology will distrust the industry or complement the business process. The emergence of PropTech start-ups has made the industry players to re-evaluate its organisational strategy to align the business process to a possible threat to the present business model. Prior studies suggest that PropTech comes in there waves in which each wave is characterized by the respective period advancement in digital technology. Several studies also indicate that digital technology may not entirely disrupt the industry but do have a significant potential to act as a complement to the industry in improving its productivity and efficiency.

scholarly journals International Real Estate Review

2011 ◽  
Vol 14 (3) ◽  
pp. 283-310
Author(s):  
Nico Rottke ◽  
◽  
Dirk Schiereck ◽  
Stephan Pauser ◽  
◽  
...  
Keyword(s):  
Life Cycle ◽  
Real Estate ◽  
Construction Industry ◽  
Value Chain ◽  
Size Effects ◽  
Service Providers ◽  
Agency Conflicts ◽  
The Real ◽  
The Real Estate ◽  
Construction Companies

Since the late 1990s, the construction industry has undergone a change in business model, as contractors vertically expand their operations to other parts of the real estate life cycle. The question arises on whether construction companies have superior abilities as real estate service providers. We have examined the value implications of 106 large merger and acquisition (M&A) transactions in the construction industry worldwide from 1986 to 2006. We inquire if a vertical expansion of the construction value chain in the real estate life cycle through M&A leads to the creation of shareholder value. We find out that this is not the case. M&A success is mainly determined by industry-specific size effects and common agency conflicts.

scholarly journals Analysis of Urban Residents' Sports Consumption Demand Based on Intercepted Regression Model

2021 ◽  
Vol 2021 ◽  
pp. 1-10
Author(s):  
Qing Liu
Keyword(s):  
Real Estate ◽  
Housing Prices ◽  
Real Estate Market ◽  
Survey Method ◽  
Real Estate Industry ◽  
The Real ◽  
The Real Estate ◽  
Real Estate Price ◽  
Real Estate Prices ◽  
The Impact

At this stage, broadening the consumer market, upgrading the consumption system and gradually establishing a consumption-led development concept are key factors in promoting high-quality economic development. At the same time, China's macro economy is also experiencing another test. The rapid development of China's real estate market in recent years has attracted a large number of investors, and real estate prices have produced irrational and substantial increases. Behind the boom of the real estate market is a social system crisis driven by profiteering and the growing seriousness of real estate financial bubble. So exploring the mechanism of the influence of real estate prices on the upgrading of residents' consumption is important for the current stage of China. Therefore, it is important to investigate the mechanism of real estate price impact on consumer upgrading for the coordinated development of real estate industry and national economy. In this paper, we analyze and examine the theory on the consumption improvement by the literature survey method. We also summarize the present research on the correlation and the influence mechanism of the real estate price and the consumption improvement and choose the index which reflects the present state of the real estate industry and the consumption of the inhabitant. Besides the input indicators that qualitatively manage the impact of housing prices on the improvement of residents' consumption, we first use the descriptive statistics method to understand the level of the Chinese real estate market and improve consumer spending. Based on this, the descriptive statistical method is applied to define the current state of China's real estate market and the level of improvement in consumption, and to define the standard for improving consumption in China. On the other hand, based on the spatial and spatial spillover points of view, we use spatial analysis framework combined with exploratory spatial data analysis and GIS to investigate spatial correlation between consumption structure and housing price, and accurately reflect the spatial clustering status of the index by drawing. Moran dispersion plot and Lisa cluster plot, then the spatial Darwinian model, are used to investigate the impact of real estate prices on the increase in occupant consumption from a macro perspective.

Tokenomics: A new opportunity in the Real Estate business? A qualitative approach to crowdfunding and blockchain interaction

First Monday ◽  
2021 ◽  
Author(s):  
Fabio Creta ◽  
Francesca Tenca
Keyword(s):  
Real Estate ◽  
Real Estate Industry ◽  
The Real ◽  
The Real Estate ◽  
Technology Innovations ◽  
Real Estate Sector ◽  
Multiple Case ◽  
Multiple Case Studies ◽  
Alternative Finance ◽  
The Impact

The article discuss how platforms administrators operating within the ecosystem of real estate crowdfunding could implement technology innovations such as blockchains or the use of digital tokens, and list the benefits that could be obtained by real estate sector. We introduce an exploratory analysis of multiple case-studies, consisting of twelve businesses that manage real estate crowdfunding platforms. The information gathered through interviews gives an idea of how the shared opinion of professionals in the trade is identified with factors and variables that impact on the opening of this alternative finance segment towards technology innovations that may bring radical changes to the real estate industry. In terms of implications, this is one of the first studies exploring the adoption of innovative technologies by real estate crowdfunding platforms and, as far as we know, it is the first to analyse the impact of tokenization.

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