scholarly journals The urban rent in the multicultural city: retail shops, migrants and urban decline in the historic centre of Palermo [La rendita urbana nella città multiculturale: attività commerciali, migranti e declino urbano nel centro storico di Palermo]

2020 ◽  
Vol 27 ◽  
pp. 67-76
Author(s):  
Grazia Napoli ◽  
Giulia Bonafede
Keyword(s):  
Real Estate ◽  
Cultural Values ◽  
Urban Areas ◽  
Real Estate Market ◽  
Shopping Behavior ◽  
Department Stores ◽  
Shopping Malls ◽  
Urban Fabric ◽  
Historic Centre ◽  
Social And Cultural Factors

Changes in consumer shopping behavior and in retail spaces, such as shopping malls, department stores and e-commerce, have modified localization models of traditional retail shops, also affecting urban fabric and spatial distribution of urban rent. Even city centers have undergone significant transformations or even decline, especially if local economic system and real estate market are weak and recessionary. A significant amount of commercial properties may have long vacancy due to excess supply, since many traditional shops close their business because they are no longer competitive and, moreover, there is no immediate takeover by new tenants. The decline of central urban areas depends on the interaction of multiple economic, social and cultural factors, but it can be countered by urban policies oriented not only to physical redevelopment of urban fabric, but also to social cohesion and multiculturalism. Migrants bearers of varied cultural values, coming from different continents and settling permanently in the Italian cities, have rented some of these empty properties by locating retail shops specifically oriented to their own communities or also to the citizens needs. The presence of migrants contributes, indeed, to support the retail real estate demand, to mitigate the minus-valorization of real estate capital and also to contain the revenues contraction. This phenomenon has been analyzed in some streets of the historic centre of Palermo that are traditionally shopping areas and have become the privileged place for locating retail shops managed by immigrants.

scholarly journals Consumer Buying Behavior at Shopping Malls: Does Gender Matter?

2018 ◽  
Vol 10 (1) ◽  
pp. 125 ◽  
Author(s):  
Ankit Katrodia ◽  
M. J. Naude ◽  
S. Soni
Keyword(s):  
South Africa ◽  
Gender Differences ◽  
Cross Sectional Study ◽  
Shopping Behavior ◽  
Shopping Mall ◽  
Shopping Malls ◽  
Buying Behavior ◽  
Cross Sectional ◽  
Social And Cultural Factors ◽  
Consumer Buying Behavior

 The development of shopping malls is a major social and global phenomenon that has unearthed a novel facet for customer satisfaction and their consequent or relative buying behavior. The aim of his paper was to explore the gender differences in consumer buying behavior at selected Durban shopping malls. It is an observational cross-sectional study carried out on 700 randomly selected respondents to study buying capacity, buying behavior and shopping experience of male and female consumers at shopping malls in the city of Durban, South Africa. Data was collected through pre-tested semi-structured questionnaire with closed ended questions. The study revealed that there are notable gender differences, which shape shopping behavior among men and women. Time and money spent at the mall was significantly high among female as compared to male consumers. Consequently, the results attributed that personal attributes and shopping mall attractiveness factors played a crucial role in influencing customer shopping behavior amongst the mall shoppers. The study concludes that gender differences are prevalent in the buying behavior of customers at the select shopping malls in Durban, South Africa. Average time spent by female is high as compared to male which also affect their average money spent at shopping mall. Psychological, Social and Cultural factors are highly influencing customers’ buying behavior at shopping malls. 

scholarly journals Urban Vibrancy: An Emerging Factor that Spatially Influences the Real Estate Market

2020 ◽  
Vol 12 (1) ◽  
pp. 346 ◽  
Author(s):  
Alice Barreca ◽  
Rocco Curto ◽  
Diana Rolando
Keyword(s):  
Real Estate ◽  
Urban Areas ◽  
Housing Prices ◽  
Real Estate Market ◽  
Current Status ◽  
The Real ◽  
The Real Estate ◽  
Activity Intensity ◽  
The Real Estate Market ◽  
Spatial Autoregressive

Urban vibrancy is defined and measured differently in the literature. Originally, it was described as the number of people in and around streets or neighborhoods. Now, it is commonly associated with activity intensity, the diversity of land-use configurations, and the accessibility of a place. The aim of this paper is to study urban vibrancy, its relationship with neighborhood services, and the real estate market. Firstly, it is used a set of neighborhood service variables, and a Principal Component Analysis is performed in order to create a Neighborhood Services Index (NeSI) that is able to identify the most and least vibrant urban areas of a city. Secondly, the influence of urban vibrancy on the listing prices of existing housing is analyzed by performing spatial analyses. To achieve this, the presence of spatial autocorrelation is investigated and spatial clusters are identified. Therefore, spatial autoregressive models are applied to manage spatial effects and to identify the variables that significantly influence the process of housing price determination. The results confirm that housing prices are spatially autocorrelated and highlight that housing prices and NeSI are statistically associated with each other. The identification of the urban areas characterized by different levels of vibrancy and housing prices can effectively support the revision of the urban development plan and its regulatory act, as well as strategic urban policies and actions. Such data analyses support a deep knowledge of the current status quo, which is necessary to drive important changes to develop more efficient, sustainable, and competitive cities.

scholarly journals The Area Vasta of Cagliari: An Insight into the Real Estate Market within a Wider Integrated Approach on the Urban Areas Competitiveness Level

2014 ◽  
Vol 11 ◽  
pp. 549-554
Author(s):  
Francesca Bodano ◽  
Luisa Ingaramo ◽  
Stefania Sabatino
Keyword(s):  
Real Estate ◽  
Urban Areas ◽  
Housing Price ◽  
Integrated Approach ◽  
Real Estate Market ◽  
Added Value ◽  
Analysis Model ◽  
The Real ◽  
The Real Estate ◽  
Insight Into

The paper offers a territorial analysis extracted from the 2013 edition of the Rapporto Annuale di Competitività delle Aree Urbane Italiane (RCAU). The Report (IV edition at present) is produced thanks to the commitment of a multi-curricular partnership, supported by the European Bank of Investment, to enhance the strategic knowledge of investors, potentially interested in the European JESSICA initiative. The insight into the Area Vasta of Cagliari is relevant as it shows the opportunities offered by the competitiveness RCAU standardised analysis model, based on 110 provinces (NUTS territorial units), to develop further in depth studies on thematic clusters or specific areas. The result is the chance of critically comparing fact-finding information at different geographic scales. The analysis herewith presented let to highlight some typical cause-effect relations in the Cagliari Area Vasta from the urban towards the rural territory (i.e.: the real estate values distribution depending on the location of material and immaterial infrastructures, even considering the so called human capital balance). In this respect its remarkable to recall that the housing price tends to capture both intrinsic and extrinsic components, being a good index of territorial competitiveness. One of the added value of the study is its replicability, thanks to the RCAU dataset (80 indicators covering demographic, economic and territorial data), useful to support decision makers in a direct, not strictly technical communication. Among the main RCAU promoters its remarkable the growing role played by Banking Foundations, more and more interested to take advantage of revolving funds investments for the creation of sustainable and resilient strategies.

scholarly journals Today's Market Needs Modernized Property Appraisers

2020 ◽  
Vol 28 (4) ◽  
pp. 93-103
Author(s):  
Sabina Źróbek ◽  
Ewa Kucharska-Stasiak ◽  
Małgorzata Renigier-Biłozor
Keyword(s):  
Real Estate ◽  
Urban Areas ◽  
Real Estate Market ◽  
Sustainable Urban Development ◽  
Modern World ◽  
The Real ◽  
The Real Estate ◽  
Analytical Skills ◽  
The Real Estate Market ◽  
Market Needs

AbstractThe article identifies and provides a synthetic overview of various concepts relating to the evolution of the real estate market and property valuation. According to the authors, the processes observed on the real estate market necessitate changes in training programs for property valuers. Real estate appraisers should be able to cope with new consumer expectations and requirements, and they should be well versed in modern technological solutions and analytical tools. The study indicates that, in order to face the challenges of the modern world, the appraisal profession should undergo a paradigm shift to embrace the fact that real estate is a commodity and that globalization is inevitable on the real estate market. Due to the high value of urban areas, a modern specialist determining the value of real estate is particularly needed there. Property valuers should develop new analytical skills, and they should rely on modern data processing tools to collect and process information. Additionally, recent events, including the COVID-19 pandemic, demonstrate that property appraisers should be better prepared for dealing with unprecedented circumstances. The training curricula proposed in this article should increase property valuers’ competencies and effectively support real estate market entities and sustainable urban development.

How different actors shape the real estate market for informal settlements in Lagos

2020 ◽  
Vol 32 (2) ◽  
pp. 371-388
Author(s):  
Akunnaya Pearl Opoko ◽  
Adedapo Adewunmi Oluwatayo ◽  
Bayo Amole ◽  
Ekundayo Adeyemi
Keyword(s):  
Real Estate ◽  
Urban Areas ◽  
Informal Settlements ◽  
Real Estate Market ◽  
Property Market ◽  
Real Estate Markets ◽  
The Real Estate ◽  
The Real Estate Market ◽  
Market Needs

The literature indicates that most housing in the urban areas of many countries in the global South is in informal settlements, provided through informal mechanisms that are often not well understood. This paper contributes to understanding the forces influencing real estate markets in informal settlements, drawing on a case study of the under-researched Ayobo community in Lagos, Nigeria. The paper examines the roles played by government agencies and other market actors, including buyers, sellers, informants, financiers and witnesses, in relation to the operation and regulation of informal land markets. The analysis of the data, drawn from a survey and interviews, reveals a thriving property market, which is socially if not formally regulated. The paper concludes that this flourishing informal market needs strengthening to effectively meet the housing needs of urban residents.

scholarly journals The impact of renewable on-site energy production on property values

2020 ◽  
Vol 13 (3) ◽  
pp. 337-356 ◽  
Author(s):  
Niina Leskinen ◽  
Jussi Vimpari ◽  
Seppo Junnila
Keyword(s):  
Real Estate ◽  
Urban Areas ◽  
Energy Production ◽  
Real Estate Market ◽  
Content Type ◽  
Site Energy ◽  
Influencing Mechanism ◽  
Study Results ◽  
The Impact

Purpose Contrary to the traditional technology project perspective, real estate investors see building-specific renewable energy (on-site energy) investments as part of the property and as something affecting the property’s ability to produce a (net) cash flow. This paper aims to show the value-influencing mechanism of on-site energy production from a professional property investors’ perspective. Design/methodology/approach The value-influencing mechanism is presented with a case study of a prime logistics property located in the Helsinki metropolitan area, Finland. The case study results are compared with the results of a survey answered by over 70 property valuation professionals in the Finnish real estate market. Findings Current valuation practice supports the presented value-creation mechanism based on the capitalisation of the savings generated by a building’s own energy production. Valuation professionals see benefits beyond decreased operating expenses such as enhanced image and better saleability. However, valuers acted more conservatively than expected when transferring these additional benefits to the cash flows of the case property. Practical implications Because the savings in operating expenses can be capitalised into the property value, property investors should consider on-site energy production when the return of on-site energy exceeds the return of the property. This enhances the profitability of on-site energy, especially in urban areas with low initial yields. Originality/value This is the first research paper to open the value-influencing mechanism of on-site energy production from a professional property investors’ perspective in commercial properties and to confirm it from a market study.

scholarly journals Households and real estate: Strategies of accumulation and inequality in Spain, 2002-2017

2021 ◽  
pp. 1-4
Author(s):  
Diederik Boertien ◽  
Antonio López-Gay
Keyword(s):  
Real Estate ◽  
Urban Areas ◽  
Housing Prices ◽  
Wealth Inequality ◽  
Real Estate Market ◽  
Economic Resource ◽  
The Real ◽  
The Real Estate ◽  
The Real Estate Market ◽  
Property Owners

Real estate has traditionally been an important economic resource for Spanish households. The development of the real estate market in Spain during the 21st century brings forth two very different stories. The first story is one of obstacles to access housing. It has become increasingly hard to buy or rent a home. Housing prices have risen considerably in urban areas while people’s income changed very little. The second story is one of accumulation of properties. Housing has been, and continues to be, a form of saving, investment and speculation for small and large property-owners. Falling housing prices permitted resourceful households to accumulate more properties during the financial crisis. These two stories lead to the following question: How did changes in the ownership of properties impact inequality in Spain? In this Perspectives Demogràfiques, we analyse how developments in the real estate market are connected to wealth inequality in Spain. The results point at a polarization of access to property; both the number of households without property and the number of households with multiple properties increased over time. Because real estate is the most important form of household’s wealth, the accumulation of properties has become a non-negligible part of wealth inequality between households in Spain.

scholarly journals The multicultural territory of domitian coast: housing condition and real estate market [Il territorio multiculturale del litorale domizio: condizione abitativa e mercato immobiliare]

2021 ◽  
Vol 28 ◽  
pp. 81-92
Author(s):  
Fabiana Forte ◽  
Claudia De Biase ◽  
Pierfrancesco De Paola
Keyword(s):  
Real Estate ◽  
Social Integration ◽  
Urban Areas ◽  
Housing Stock ◽  
Real Estate Market ◽  
Housing Demand ◽  
Housing Condition ◽  
Housing Conditions ◽  
Campania Region ◽  
Foreign Population

In Italy, which has traditionally been a country of emigration since the unification of Italy, in the last thirty years there has been an intense increase in the flow of immigrants, resulting in economic, social and spatial problems. If the housing conditions represents one of the main indicators to measure the degree of social integration, in Italy a particularly weak segment in the housing demand is represented precisely by immigrants to whom the most degraded and inadequate sector of the housing stock is often destined. A phenomenon of particular note is represented by the settlement choices in the hinterland of large urban areas where there is a high percentage of foreign population (both official and unofficial). This is what happened in the Campania region, in the territory that starts from Caserta to get to Salerno, passing through the metropolitan city of Naples. In Italia, tradizionalmente paese d’emigrazione dall’unità in poi, negli ultimi trenta anni, si è assistito ad un intenso incremento del flusso di immigrati, con conseguenti impatti di carattere economico, sociale e spaziale. Se la condizione abitativa rappresenta uno dei principali indicatori per misurare il grado di integrazione sociale, un segmento particolarmente debole della domanda abitativa in Italia è rappresentato proprio dagli immigrati, cui spesso risulta destinato il settore più degradato e inadeguato del patrimonio abitativo. Un fenomeno di particolare rilievo è rappresentato dalle scelte insediative nell’hinterland delle grandi aree urbane, dove si registra un alta concentrazione di popolazione straniera (sia ufficiale che ufficiosa). Ed è quanto è successo in regione Campania, nell’area che parte da Caserta per arrivare a Salerno, passando per la città metropolitana di Napoli.

Vietnam is at risk of real estate bubble

2019 ◽  
Keyword(s):  
Real Estate ◽  
Urban Areas ◽  
Real Estate Market ◽  
Content Type ◽  
The Real Estate ◽  
Real Estate Bubble ◽  
Global Recession ◽  
Real Estate Sector ◽  
Growing Economy ◽  
The Government

Subject Headwinds in Vietnam's real estate sector. Significance Much of the foreign investment flowing into Vietnam’s fast-growing economy is being directed at the real estate sector, especially high-end condominiums. There are indications that the government may curb foreign ownership of these luxury apartments, but the units are currently priced far above what most local people can afford. Impacts Some investors may respond to falling prices by holding on to their apartments, which would leave many residences empty in urban areas. If property demand declines, Vietnam’s central bank may turn to monetary loosening to make home loans more attractive. Vietnam’s real estate market would be vulnerable to a downturn in the event of a global recession.

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