Perceptions of Academics on Real Estate Topics in Africa

This paper presents the perceptions of academics on real estate topics offered in Bachelors Real Estate (BRE) curricula in Africa. In order to understand the perceptions of academics on real estate topics, a survey of seven selected BRE curricula offered in different regions of Africa was conducted to determine important real estate topics academics included in the curricula. After analyzing the curricula, sorting and re-grouping the topics: Real estate management, Real estate valuation, Real estate economics, Real estate finance and investment, Real estate development, Real estate law, Real estate planning, Real estate research, Real estate industrial training and Real estate electives emerged to be important topics the academics considered to include in the curricula. The topics are in line with those expected in a real estate curriculum. In addition, results revealed that BRE curricula follow the interdisciplinary approach to real estate education. Findings will encourage universities in Africa and elsewhere to develop comprehensive real estate curricula or improve existing ones to accommodate the interdisciplinary approach and the international perspective of real estate education because of their benefits. The study will also support the harmonization of real estate education, practice, investment and business in Africa, hence contributing towards the economic development of the continent.

The interurban migration industry: ‘Migration products’ and the materialisation of urban speculation at Iskandar Malaysia

Iskandar Malaysia (IM) is a 4749 km2 urban conurbation and development region located at the Malaysia–Singapore border. State-led development of this regional economic corridor has attracted inflows of foreign investments and spurred the rise of mid- to high-end urban developments by foreign developers. This has resulted in the emergence of an interurban migration industry consisting of intermediary entities that are co-developing and co-marketing ‘migration products’ (real estate, education and lifestyle migration) as an integrated package to middle-class, aspiring transnational investor/lifestyle migrants from the region. This article argues that this middlemen industry is crucial to the materialisation of urban speculation, for state actors and investor/lifestyle migrants alike. Through interurban alliances that capitalise on the broader state-led speculative urbanism landscape, the industry co-creates an imagined urban future that is grounded in transnational lifestyle mobilities. This article highlights the need to analyse speculative urbanism and transnational investment/lifestyle migration as intertwined processes.

Anchor effects in appraisals: do information and theoretical knowledge matter?

Purpose The purpose of this study is to evaluate the impact of theoretical knowledge related to financial behaviour and especially anchor effects. Design/methodology/approach The study design is based upon an experiment divided into two parts, before and after the development of the course curriculum for the course introducing behavioural finance for undergraduate real estate students. Findings The study concludes that the anchor effect is persistent also after introducing theoretical knowledge regarding financial behaviour and anchor effects. To conclude the results, in this study, indicates that the appraisal of properties are dependent on the individual’s cognitive capacity to mitigate anchor effects. There are epistemological assumptions underlying the belief in the individuals’ capacity to handle anchor effects that might provide biased appraisals. These assumptions need to be carefully tested and treated to increase the accuracy of property appraisals. Practical implications The study result also highlights the possibility that current literature in valuation, and learning activities, does not emphases and stimulate readers to critical thinking. This paper would, therefore, propose also other real estate education programmes to be aware of the potential lack of critical thinking among the students. Originality/value It provides an insight regarding how appraisal of properties is dependent on the individual’s cognitive capacity to mitigate anchor effects.

Identifikasi Produk Unggulan Dan Kontribusi Sektor Tersier Di Kabupaten Madiun

Madiun Regency is one of the districts in the western part of East Java which has a very strategic location as a transit city. Then the tertiary sector has a big role / contribution to Gross Regional Domestic Product / PDRB which certainly affects economic growth. This research was carried out in order to: (1) Identify the leading sectors of the tertiary sector in Madiun Regency. (2) Reviewing the contribution of tertiary sector to PDRB of Madiun Regency. and (3) Assessing the base sector which can be used as a mainstay for economic development in Madiun Regency, especially the tertiary sector in 2019 and in the future. The results of research using the analysis of Location Quotient (LQ) are (1) The tertiary sector of Madiun Regency is included in mainstay, superior and prospective criteria. (2) The superior potential of tertiary sector Madiun Regency are the information and communication sector, real estate, education services and health services and social activities. Based on analysis of contribution to the Gross Regional Domestic Product / PDRB of tertiary sector that has largest contribution is the financial and insurance services sector; second is the information and communication sector; and third is government administration, defense and social security is mandatory. Keywords—: Tertiary; Superior Product; Location Quotient (LQ); Contribution; Madiun Regency.

Technology for real estate education and practice: a VR technology perspective

PurposeLed by the rapid advancement of information technology in engineering, business and creative industries, the emergence of new technology such as virtual reality (VR) and its use in education and practices are clearly observed. Although widely spread in industry practices, technology-led innovation is applied rather slowly in the tertiary real estate education. This paper examines the integrative effect of VR technology in a real estate course.Design/methodology/approachThis study adopts a case study approach. Using an experimental course design and delivery in a business school real estate programme from Hong Kong, this paper shows the design, development and implementation of an innovative teaching model with VR being integrated. A survey was conducted to gain feedback information from participating students towards teaching innovation. It identifies the role and values of adopting VR technology in real estate education as pedagogical tool.FindingsA new teaching model integrated with VR technology to deliver a real estate course has demonstrated its ability and potential to assist the development and enhancement of student's sense of value and place, as well as improving communicative efficiency of property investigation and the analysis of trade process. Findings from the study have implications for future global real estate industry practice and education.Originality/valueThe critical role of information technology to revolutionise the global economy and its real estate sector is apparent. Few studies have inquired about attempts and experience of integrating VR technology in real estate education towards direct link to industry practice. This paper is a major attempt to bring attention to this important concern.