Critical factors determining rental value of residential property in Ibadan metropolis, Nigeria

2014 ◽  
Vol 32 (3) ◽  
pp. 224-240 ◽  
Author(s):  
Oluseyi Joshua Adegoke
Keyword(s):  
Positive Impact ◽  
Empirical Studies ◽  
Hedonic Pricing ◽  
Residential Property ◽  
Living Room ◽  
Critical Factors ◽  
Content Type ◽  
Factors Influencing ◽  
Residential Properties ◽  
Rental Value

Purpose – This paper adds to the emerging knowledge base in the Nigeria and is of relevance to all residential property stakeholders. A number of empirical studies have demonstrated that several factors influence residential property values. However, there is a paucity of empirical research on critical factors influencing rental value of residential property in Nigeria. The purpose of this paper is to serve to address this gap by examining critical factors influencing rental value of residential property in the three densities area of Ibadan metropolis, Nigeria. Design/methodology/approach – The study used random sampling to select 624 residential properties out of 3,120 residential properties in the portfolio of 52 Estate Surveying and Valuation firms located within Ibadan metropolis, Nigeria. Data collected were analysed using a hedonic pricing specification. Findings – The results show that different critical factors influences rental values of different types of building in different residential densities. Number of bathroom (NOB), number of living room (NOL) and existence of burglar alarm (EOBA) were critical to bungalow in the whole area of Ibadan while number of toilet (NOT) was critical to duplex. In low-density area; residential location and EOBA have a significant positive impact on rental value of bungalow while NOT, NOBs (NOR), NOL and EOBA have a significant positive impact on detached house. However, it was NOR and EOBA that were critical in the medium density to bungalow. Practical implications – The study concluded that each of the residential densities is homogenous and, therefore, every residential property stakeholders should recognise the importance of each factor on rental values so that their valuation estimates will be useful and reliable. Originality/value – The study is one of the few attempts at examining factors affecting residential property value. This paper examined critical factors influencing rental value of residential property in the three densities area of Ibadan metropolis, Nigeria.

The impact of senior house developments on surrounding residential property values

2016 ◽  
Vol 34 (5) ◽  
pp. 415-433 ◽  
Author(s):  
Antti Tapio Kurvinen ◽  
Tanja Tyvimaa
Keyword(s):  
Positive Impact ◽  
Property Values ◽  
Hedonic Pricing ◽  
Residential Property ◽  
Content Type ◽  
Senior Housing ◽  
Housing Developments ◽  
Matching Procedure ◽  
Residential Property Values ◽  
The Impact

Purpose Even as many countries are facing changes in demographic profile and new types of senior housing developments are becoming more important, there is limited evidence for the development impact of a senior house on surrounding residential property values. The purpose of this paper is to address the void in knowledge, investigating the impact of senior house developments on apartment values in Tampere, Finland. Design/methodology/approach To specify valuation effects of proximate senior house development projects, advanced research design combining propensity score matching procedure and hedonic pricing models is used. Findings The results show that a senior house development has a significant positive impact on proximate residential property values within a 500 metre radius. The impact is found to be the highest in underdeveloped neighbourhoods. Nevertheless, in neighbourhoods where property values and demand for housing units are higher and senior house developments fall into the criteria of infill development, a premium is lower, but still statistically significant and notable in magnitude. Research limitations/implications This paper studies apartment values only in Tampere, Finland, and it is important to notice that local regulations and market conditions may have a notable impact on the outcomes from senior house developments. Originality/value This study is the first of its kind to address a number of empirical issues and provide with statistically significant evidence for positive impacts from senior house developments – encouraging investors and developers to build senior houses.

scholarly journals Impact of light rail line on residential property values – a case of Sydney, Australia

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Rotimi Boluwatife Abidoye ◽  
Felice Fam ◽  
Olalekan Shamsideen Oshodi ◽  
Abiodun Kolawole Oyetunji
Keyword(s):  
Property Values ◽  
Hedonic Pricing ◽  
Residential Property ◽  
Light Rail ◽  
Broad Perspective ◽  
Content Type ◽  
Residential Properties ◽  
Residential Property Values ◽  
The Impact ◽  
Sydney Australia

Purpose The construction of new transportation infrastructure tends to affect the adjoining properties, economy and environment. In particular, studies have investigated the change in the value of properties due to increased access to transportation facilities. The purpose of this paper is to examine the impact of the recently completed light rail on residential property values in Sydney, Australia. Design/methodology/approach Sales data of residential properties was extracted from the CoreLogic’s RP database. The hedonic pricing model was used to assess the effect of proximity to the light rail stops. Two models were developed for the announcement and construction phases of the light rail project. Findings It was found that during the announcement phase, properties located within the 400 m radius from the station were 3.3% more expensive than those within the 400–800 radius. At the construction stage, the properties within the 0–400 m radius from the stops sold at 3.1% more than those within the 400–800 m radius. This study concludes that a positive relationship exists between the values of residential property and proximity to light rail stations. Practical implications These findings would be useful for policymakers to develop land value capture programs for infrastructure funding and to real estate professionals and investors for investment in future transit-oriented development. Originality/value Previous studies that aimed at examining the impact of light rails on residential properties values around universities are limited. Hence, this study provides a broad perspective on the impact of light rail on residential properties values.

Explanation information and source in service recovery initiatives

2014 ◽  
Vol 28 (4) ◽  
pp. 311-318 ◽  
Author(s):  
Thomas Baker ◽  
Tracy Meyer
Keyword(s):  
Source Credibility ◽  
Positive Impact ◽  
Service Failure ◽  
Empirical Studies ◽  
Service Recovery ◽  
Positive Outcome ◽  
Frontline Employees ◽  
Full Account ◽  
Content Type ◽  
Service Failure And Recovery

Purpose – The purpose of this paper is to specifically consider two interactional aspects that are likely to contribute to the success of an explanation of why a service failed: the adequacy of information provided and role of the person providing the information. Design/methodology/approach – Two empirical studies were conducted using a between-subjects 2 (information: low vs high) × 2 (employee: frontline vs manager) experimental design. The first study was designed to better understand when the information provided might have a more positive impact on the customer. The second study was conducted to understand why the effects exist. Findings – In Study 1, an interaction effect was seen that suggests that the most positive outcome is when the manager (vs the frontline employee) provides a full explanation (vs limited explanation) of the mishap. Results from Study 2 indicate that source credibility is in play. Research limitations/implications – Participants were asked to respond to service failure and recovery scenarios using the same service context. The means of the outcome variables suggest that the recovery effort could be improved upon with other methods. Practical implications – Contrary to suggestions that frontline employees be responsible to resolve service failures, our studies reveal that service recovery initiatives involving an explanation only are best received when the manager provides the customer a full account of what went wrong. Originality/value – This research provides empirical evidence of when and why more information regarding the cause of a service failure is most positively received by the customer.

Quantifying SWOT analysis for cloud adoption using FAHP-DEMATEL approach: evidence from the manufacturing sector

2020 ◽  
Vol 33 (5) ◽  
pp. 1111-1152 ◽  
Author(s):  
Mahak Sharma ◽  
Rajat Sehrawat
Keyword(s):  
Technology Acceptance ◽  
Industrial Revolution ◽  
Swot Analysis ◽  
Manufacturing Sector ◽  
Critical Factors ◽  
Time To Market ◽  
Content Type ◽  
Organizational Issues ◽  
Factors Influencing ◽  
Indian Manufacturing Sector

PurposeThis study aims to identify the critical factors (barriers and drivers) influencing the adoption of cloud computing (ACC) in the manufacturing sector in India.Design/methodology/approachIn this study, a mixed methodology approach is used. Interviews are conducted to investigate factors (drivers and barriers) influencing the ACC, which are further categorized as controllable determinants (weaknesses and strengths) and uncontrollable determinants (threats and opportunities) using a SWOT analysis. Fuzzy analytic hierarchy process (FAHP) has been utilized to highlight the most critical drivers as well as barriers. Finally, decision-making trial and evaluation laboratory (DEMATEL) has been used to find the cause-effect relationships among factors and their influence on the decision of adoption.FindingsThe manufacturing sector is in the digital and value change transformation phase with Industry 4.0, that is, the next industrial revolution. The 24 critical factors influencing ACC are subdivided into strengths, weaknesses, opportunities and threats. The FAHP analysis ranked time to market, competitive advantage, business agility, data confidentiality and lack of government policy standards as the most critical factors. The cause-effect relationships highlight that time to market is the most significant causal factor, and resistance to technology is the least significant effect factor. The results of the study elucidate that the strengths of ACC are appreciably more than its weaknesses.Research limitations/implicationsThis study couples the technology acceptance model (TAM) with technology-organization-environment (TOE) framework and adds an economic perspective to examine the significant influences of ACC in the Indian manufacturing sector. Further, it contributes to the knowledge of ACC in general and provides valuable insights into interrelationships among factors influencing the decision and strategies of adoption in particular.Originality/valueThis is the first scholarly work in the Indian manufacturing sector that uses the analysis from SWOT and FAHP approach as a base for identifying cause-effect relationships between the critical factors influencing ACC. Further, based on the extant literature and analysis of this work, an adoption framework has been proposed that justifies that ACC is not just a technological challenge but is also an environmental, economic and organizational challenge that includes organizational issues, costs and need for adequate government policies.

A methodology for identifying critical factors influencing land value in urban areas: a case study of Kerala, India

2020 ◽  
Vol 38 (5) ◽  
pp. 665-681
Author(s):  
Binoy BV ◽  
Naseer MA ◽  
Anil Kumar PP
Keyword(s):  
Expert Opinion ◽  
Urban Areas ◽  
Environmental Planning ◽  
Delphi Survey ◽  
Land Value ◽  
Critical Factors ◽  
Content Type ◽  
Factors Influencing ◽  
Importance Index

PurposeLand value is a measure of the specific features of a property, excluding buildings and other developments. Land value varies depending on the economic, geographic and political aspects of a particular location. The primary purpose of the paper is to identify the general and location-specific attributes impacting property prices in urban Kerala.Design/methodology/approachThe objective of the current study was achieved through a three-cycle Delphi survey and relative importance index (RII) approach. The experts who aided in the survey had a mutual interest in the subject but came from different backgrounds like property valuation, real estate, urban and environmental planning. The initial group of variables identified from the literature was expanded and scrutinized in the first cycle of the Delphi survey. The variables were grouped into five major categories and 13 subcategories based on the literature and expert opinion. In the subsequent stages, the short-listed variables were rated on a seven-point Likert scale until a consensus was attained. The top-ranked variables were identified through the RII method as the critical factors influencing land value in urban Kerala.FindingsThe results indicate that road accessibility and proximity to nuisance sources are the most crucial parameters. The outcome of the study will provide a better understanding of the dynamics of land value and the influencing factors in urban areas.Originality/valuePrevious studies do not give much consideration for the location-specific variability on the influencing parameters. Property management research has not considered the usage of expert opinion and RII for variable selection.

Social customer relationship management factors and business benefits

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Sheshadri Chatterjee ◽  
Ranjan Chaudhuri ◽  
Demetris Vrontis ◽  
Alkis Thrassou ◽  
Soumya Kanti Ghosh ◽  
...  
Keyword(s):  
Customer Relationship Management ◽  
Positive Impact ◽  
Empirical Studies ◽  
Relationship Management ◽  
Customer Relationship ◽  
Content Type ◽  
Factors Affecting ◽  
Leadership Support ◽  
Proposed Model ◽  
Actual Use

Purpose This study aims to identify the business benefit of and factors affecting the use of social customer relationship management (SCRM) in Indian organizations. Design/methodology/approach Building on theoretical foundations, a conceptual model of factors affecting SCRM in Indian organizations is developed and empirically tested through a survey and corresponding analysis using SPSS and AMOS software. Findings The study presents empirical evidence that technological competence, environmental characteristics and organizational environment positively impact the actual use of SCRM on Indian organizations. Additionally, leadership support of organizations impacts positively the actual use of SCRM in organizations, while the trust factor insignificantly impacts the latter. The actual use of SCRM in organizations was found to have a positive impact on their business benefits. Research limitations/implications The theoretical model is built on the constructs of the technology, environment and organizational framework. It has added new factors, such as leadership support and trust, and thereby identified the business benefits of organizations using SCRM mediating through the organizations’ actual use of SCRM. The proposed model is simple, implementable and has a high explanative power of 81 per cent. Practical implications The study provides practitioners with evidence and practicable knowledge regarding the means and impact/benefits of SCRM use in Indian organizations. Originality/value The study is one of few empirical studies on the topic and contributes valuable knowledge to extant works through additional factors, theoretical conceptualization and empirical scientific findings of both scholarly and executive worth.

scholarly journals House price cycles in emerging economies

2015 ◽  
Vol 32 (1) ◽  
pp. 17-52 ◽  
Author(s):  
Alessio Ciarlone
Keyword(s):  
Emerging Economies ◽  
House Prices ◽  
Small Body ◽  
House Price ◽  
Hedonic Pricing ◽  
Empirical Literature ◽  
Residential Property ◽  
Index Number ◽  
Price Dynamics ◽  
Content Type

Purpose – This paper aims to investigate the characteristics of house price dynamics for a sample of 16 emerging economies from Asia and Central and Eastern Europe over the period of 1995-2011. Design/methodology/approach – Linking housing valuations to a set of conventional fundamental determinants – relative to both the supply and the demand side of the market, institutional factors and other asset prices – and modelling short-term price dynamics – which reflect gradual adjustment to underlying fundamentals –conclusions about the existence and the basic nature of house price overvaluation (undervaluation) are drawn. Findings – Overall, it was found that actual house prices in the sample of emerging economies are not overly disconnected from fundamentals. Rather, they tend to reflect a somewhat slow adjustment to shocks to the latter. Moreover, the evidence that housing valuations may be driven by overly optimistic (or pessimistic) expectations is, in general, weak. Research limitations/implications – Residential property prices used in the empirical analysis have many limitations: while some series are derived using a hedonic pricing method, others are based on floor area prices collected by national authorities; while some countries publish house prices in national currency per-square metre (or per apartment or per dwelling), others calculate an index number scaled to some base year; while some countries publish statistics for the whole national territory, others produce data only for the capital city or for the largest cities in the country; data from national sources refer to different types of residential property; finally, available time series are relatively short, which may adversely affect the robustness of estimation results. Practical implications – The decomposition suggested in the paper has important implications: it would be paramount, in fact, for policymakers to implement market-specific diagnoses, and to find the right policy instruments that can ideally distinguish between the two underlying components driving house price short-run dynamics. Originality/value – There is a very small body of empirical literature on housing market developments in emerging economies, especially if focussed on the comparisons between the actual dynamics of housing valuations and the equilibrium ones.

A multiple case study analysis of Six Sigma practices in Indian manufacturing companies

2016 ◽  
Vol 33 (8) ◽  
pp. 1138-1149 ◽  
Author(s):  
Jiju Antony ◽  
E.V. Gijo ◽  
Vikas Kumar ◽  
Abhijeet Ghadge
Keyword(s):  
Six Sigma ◽  
Positive Impact ◽  
Empirical Studies ◽  
Yield Reduction ◽  
Manufacturing Companies ◽  
Study Analysis ◽  
Organisational Performance ◽  
Content Type ◽  
Case Study Analysis

Purpose The purpose of this paper is to explore the fundamental barriers/challenges, benefits, commonly used tools and techniques, organisational infrastructure and impact on organisational performance in three Indian manufacturing companies. Design/methodology/approach A multi-case study analysis using the exploratory case study research was adopted by the authors to obtain a deeper insight into the Six Sigma implementation within three distinctive manufacturing organisations in India. Interviews were conducted with relevant staff (Six Sigma Deployment Champions, Six Sigma Master Black Belts and Six Sigma Black Belts) in all three companies. Findings Some of the barriers in implementing and sustaining Six Sigma identified from the case studies include: lack of accuracy of data generated from the processes, lack of understanding of the benefits of Six Sigma in the early stages of its adoption, high-attrition rate of Six Sigma Black Belts and so on. The benefits of Six Sigma included improvement of process yield, reduction of rework and rejection, reduction of raw material inventory, improved on-time delivery, on-time availability of material for production and so on. Supplier-input-process-output-customer, cause and effect diagram, process mapping, hypothesis tests (two sample test, F-test, etc.), control charts (X-bar-R chart, individual chart, etc.), simple graphical tools such as histograms, box plots and dot plots were the most commonly used tools of Six Sigma across the companies that participated for this research. All three companies have reported that Six Sigma had a positive impact on organisational performance and moreover the study also revealed that Six Sigma had positive impact on customer satisfaction, return-on-investment, productivity and product quality. Research limitations/implications The study was carried out in three Indian companies and therefore the findings cannot be generalised. The authors are extending the study to three more companies and the findings will be reported in the forthcoming months. Practical implications The findings of the study provide a good foundation to understand the fundamental barriers, benefits, commonly used tools and whether Six Sigma is having any impact on business performance in the Indian context. Very few empirical studies have been carried out on Six Sigma implementation in the Indian manufacturing companies and this research sets an agenda for a number of studies to follow on in the forthcoming years. Originality/value In authors’ opinion, this is possibly one of the first multi-case empirical studies on Six Sigma implementation in the Indian manufacturing companies. The results of the study can be used to benchmark with similar studies in other countries to understand the good and bad management practices of Six Sigma implementation.

scholarly journals Empirical Analysis of Factors Influencing Residential Property Prices in Malaysia

2018 ◽  
Vol 1 (1) ◽  
Author(s):  
Nazaria Md Aris
Keyword(s):  
Consumer Price Index ◽  
Residential Property ◽  
Causality Test ◽  
Vector Error Correction ◽  
Factors Influencing ◽  
Property Prices ◽  
Augmented Dickey Fuller ◽  
Residential Properties ◽  
One Year ◽  
Year 2000

This study concerns the factors influencing the prices for residential properties in Malaysia as well as their relationship towards residential property prices. The data collected and analysed in this research is from quarter one year 2000 to quarter four year 2015. Various determinants have been identified namely country population, Gross Domestic Product, household income, inflation and lending rates in this research. The time-series analysis methodologies adopted in this research are the Augmented Dickey-Fuller (ADF) and Philip-Perron (PP) test for unit root, Johansen and Juselius Cointegration Test, Granger Causality Test for Vector Error Correction Model (VECM) and also Variance Decomposition (VDC).  In this study, these two variables, population growth (POPGROWTH) and inflation measured by the consumer price index (CPI) were found has a significant and positive effect towards the price of residential properties in Malaysia.

Factors affecting rentals of residential apartments in Pune, India: an empirical investigation

2019 ◽  
Vol 12 (6) ◽  
pp. 1028-1054 ◽  
Author(s):  
Harish Kumar Singla ◽  
Priyanka Bendigiri
Keyword(s):  
Regression Model ◽  
Least Square ◽  
Residential Property ◽  
Related Factors ◽  
Ols Regression ◽  
Content Type ◽  
Factors Affecting ◽  
Robust Estimates ◽  
Rental Basis ◽  
Rental Value

Purpose The purpose of this paper is to find out the factors affecting rentals of residential apartments in Pune, India. Design/methodology/approach Four regression models are developed, i.e. basic ordinary least square (OLS) regression model, OLS regression model with robust estimates, OLS regression model with clustered robust estimates and generalized least square (GLS) regression model with maximum likelihood (ML) robust estimates. Based on the Akaike information criterion and Bayesian information criterion criteria, OLS regression model with clustered robust estimates and GLS regression model with robust estimates are best fit. The data are tested for multicollinearity and the models are tested for heteroscedasticity. The study uses the expected rent value data collected from Web portals and the data on factors affecting the rental value of residential property are collected through the study of land use maps, Google earth software and field visits. Findings Total floor area and number of rooms are structure related factors that positively affect the rental value, i.e. more the area and number of rooms, higher the rental value. The distances from the nearest police station and fire station are security and safety factors. The results suggest that higher distance from these factors leads to lower rental values, as safety and security is the top priority of residents seeking residential property on rental basis. The distance from employment zones, distance from nearest school/college and the distance from the nearest public transport terminal are convenience related factors that negatively affect the rental value, as greater the distance, lesser the rental value and vice versa. The distance from Central Business District and hospitals has a positive effect on the rental values of a residential property implying that higher distances from these places command higher rental value. Research limitations/implications The study relies on rental data that owner is expecting for a particular property, it is not certain that the property would be actually rented for the same value. Second, researchers had to drop certain important drivers of rental value because of the issue of multicollinearity. Practical implications This is one of the rare studies conducted in Indian context, and the findings of the study are useful from the owner, tenants, urban bodies and developers’ point of view. Knowing that India is one of the fastest growing markets and need for housing is increasing day by day (including housing facility on rental basis), the stakeholders need to take care of the factors that affect the rental values of a residential property. Social implications The authors suggest the governments and the municipal bodies in India to come up with a public rental housing policy that separately caters to the needs of the lower income group, middle and upper income group in at least metros, tier I and tier II cities that are witnessing unprecedented growth in job seeking immigrants, who are seeking properties on rental basis. While developing a public rental policy, they must keep in mind the factors that are driving the rental values, such as proximity to employment zones, proximity to proper school and college, efficient public transport system as well as all safety and security measures. Creation of such a public rental policy is a win–win situation for immigrants, property owners and government/urban development bodies. Originality/value This paper is the first empirical study about the factors affecting rental values in Pune, India. The study will help property owners, immigrant and local tenants, government and urban development bodies to develop an understanding about the important factors affecting rental value and come up with their respective plans. Advanced econometric regression models are used based on the data that is collected through actual field visits, study of maps and secondary information rather than use of survey method or creation of dummy variables.

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