The Effect of Covid-19 on the Real Estate Industry in India

The world economy seems to be experiencing one of the most severe downturns in recent memory. The latest pandemic has had a detrimental effect on the economies of several nations, including India. The International Monetary Fund forecast India’s growth rate at 1.9 % for fiscal year 2021, down from 5.8 % previously. This poses a significant challenge to the Indian economy. The resumption of work was complicated by the workers’ surprising return to the employers from underground. Developers struggled to locate enough job-creating jobs due to the labour market severe constraints. The populace is burdened by the great pestilence that threatens the nation. Indian real estate, which was still emerging from the implications of demonetization (November 2016) and other changes, was jolted by this pandemic, with building development halted and real estate transactions paused. Indian real estate should plan itself for a post-COVID-19 environment and be prepared to take several new and technology-driven moves to get back on track. The secondary data research methodology is used in this paper and the aim of the research is to discuss the pre-pandemic real estate market and the effect of COVID-19 on the Indian real estate market. Additionally, it discusses the risks and prospects confronting various real estate industry participants.

Optimising the Awareness of Benefits of Sustainable Construction Practices in Nigeria

Awareness of the benefits of sustainable construction practices has been acknowledged as the fundamental principle that underlies its implementation. This survey study examined the level of awareness of the benefits of sustainable construction practices among building construction stakeholders and the strategies for optimising the awareness level through the use of questionnaire. The Mann–Whitney U Test result revealed that there was significant difference in the awareness level of benefits of sustainable construction practices between building professionals and non-professionals, in spite of a general moderate high level of awareness; due to difference in the training background and experience of the professionals and non-professionals. The Relative Importance Index (RII) result further showed that these differences could be narrowed through the adoption of 12 strategies for promotion of awareness. For maximum optimisation, the study suggested that six high level importance strategies had to be operationalised. However, when these are not readily available or very difficult to apply, alternative medium-high level importance strategy could be adopted. Thus, since non-professional stakeholders such as clients and non-professional contractors do not have opportunity of learning as professionals, the study suggested that the professionals should engage in such strategies as community or professional group engagement and local partnership with the non-professional stakeholders so as to create an interface that would promote awareness of benefits of sustainable construction practices among the stakeholders. Similarly, relevant authorities, such as government agencies and regulatory bodies need to embark on other alternative strategies such as advertisement promotion, etc.

Assessment of the Influence of on-Campus Housing Quality and Facilities on Students’ Academic Performance at the Federal University of Technology, Akure, Nigeria

The management of federal universities in Nigeria has not taken the issue of students’ housing provision as a priority. Hence, demand for on-campus housing accommodations far exceeds the supply and this resulted in the majority of the students living in private residences characterised by poor facilities. This study, therefore, assessed the housing quality and facilities in the undergraduate student’s hostels at the Federal University of Technology, Akure, Nigeria to investigate its suitability for learning and research. A simple random sampling technique was used for the study. Data were collated from both primary and secondary sources. The data collected were analysed using frequency tables and weighted mean scores for estimating the Housing Quality Indices (HQI) according to a 5-point Likert scale. The academic performance of the occupants before and after moving to the university hostel was equally investigated using a regression analysis to test if a relationship exists among the housing quality, the quality of facilities provided and the academic performances of the students. The result revealed a positive relationship between the academic performance of the students and the quality of housing facilities. A comprehensive maintenance programme of the students’ accommodation within the university campus is recommended for higher academic performance. The study contributes to the body of knowledge in academic performance of students, developing and managing students’ accommodation quality at higher education institutions.

Research in the Field of Enterprise Management

The need for a competitive enterprise to comply with the requirements of a market economy obliges it to constantly improve both technologically and organisationally. The basis of organisational innovation is the study of organisation management systems – activities aimed at the development and improvement of management in accordance with constantly changing external and internal conditions. Improving the management of modern dynamically developing enterprises, as socio-technical systems, requires the study of their properties, which is associated with solving the problem of performing research at a high scientific and methodological level. The article is devoted to the principles, methods and problems of these studies.

Structural Equation Modelling for Establishing Empirical Relationship Between Organisational Innovativeness and Sustainability of Construction Firms in Nigeria

The quest to implement innovative practices that will lead to a high level of sustainability at the firm level within the construction sector cannot be overemphasised. The aim of this study is to establish the empirical relationship between organisational innovativeness and sustainability of construction firms using a structural equation modelling approach. The study has adopted a survey approach and 1179 copies of structured questionnaire have been administered to construction firm representatives. A total of valid 980 copies of questionnaire have been received giving a response rate of 83.2 %. Data collected have been analysed using descriptive statistics and structural equation modelling. The correlation coefficient (β = 0.81) shows that organisational innovativeness positively influences the sustainability of construction firms. The study reveals that 66.1 % of the variability in the overall sustainability of construction firms operating in the Niger Delta region of Nigeria is accounted for by the implementation of innovative practices by the construction firms. It is concluded that 67.1 %, 83.8 % and 45.7 % of the variability in the construction firm’s social, environmental and economic sustainability, respectively, are explained by the implementation level of innovative practices by the top management teams of the firms. In line with the findings, this study concludes that efficient implementation of innovative practices at the firm level has a significant and positive influence on the overall sustainability of construction firms.

Occupational Health and Safety Practices in Cape Coast Metropolis

The rate of construction accidents in the Ghanaian construction industry is not encouraging. The study sought to identify the factors affecting the effective health and safety practices in the construction industry within the Cape Coast Metropolis. Purposive sampling technique was used to select the construction firms and ‘Yamane formula’ to arrive at the number of respondents (44) for the study. Structured questionnaires were distributed among site engineers, site supervisors, safety officers, quantity surveyors, foremen, chief masons and chief carpenters. Statistical Packages for the Social Sciences (SPSS) was used for the data analysis and results were presented in a form of descriptive and inferential statistics. Findings show that the level of health and safety practices within the Metropolis was high and the factors that affected the implementation of health and safety programmes were severe among the firms. Few of the company’s health and safety programmes were effective and this calls for the strengthenig of the construction sector policy by the ministries responsible for implementation.

Affordable Housing for Young Adults in Latvia

The topic is related to the need for housing as a social need for every member of society and its inaccessibility, mainly due to lack of finance. Housing affordability is a concept that indicates whether households are able to purchase or rent a home, maintain it and cover other non-housing expenses. Housing is one of the most important basic human values, but in the housing market, young households, whose incomes tend to be lower and more volatile, often face difficulties in finding affordable housing. For this reason, young adults are often considered high-risk tenants. Uncertainty in the rental market, restrictions on buying a home, and financial difficulties have a significant impact on young people’s ability to buy or rent their own home and often lead to short-term renting and regular housing changes. Various events that have a significant impact on the national economy, e.g., the financial crisis, have affected all the population in different countries over time, but it is believed that these events have had the most significant impact on young people’s living standards and on the level of housing affordability for youth. Therefore, it has been decided to evaluate the economic situation in the European Union, to analyse the socio-economic indicators for young people aged 20 to 34 years, and to study the concept of housing affordability both in Latvia and in the EU. The goal of the research is to analyse the possibilities of increasing the housing affordability for youth.

Foreign Direct Investment Legislation: A Precondition for Creating a Favourable Investment Climate in the Case of Kosovo

Foreign direct investment (FDI) represents a significant impetus for sustainable economic growth and development. From the context of the importance that FDI carries as the transfer of knowledge, experience, employment growth and development of human capital, its attraction definitely requires a proper legal basis, namely, the implementation of the law and the proper functioning of judiciary. The main aim of this study is to elaborate the legislation on foreign direct investment in Kosovo and to analyse FDI in Kosovo over the years. This study is based on local literature, specifically the interpretation of the current law on FDI in Kosovo and international literature to examine the effects of legislation on a business climate. This study is descriptive, comparative and analytical, based mainly on secondary data provided by the World Bank indicators on FDI in Kosovo over the years. Kosovo as a young, post-war state has drafted a number of reforms in the economic field and in the field of law enforcement and judiciary, but undoubtedly the current law governing strategic investments has room for improvement, thus, must be enforced in order for investors to feel safe while operating in Kosovo. This study also concludes that Kosovo is attractive for foreign investors due to the increasing rate of GDP, labour market conditions, high rate of degree holders complying with labour market requirements. The study goes further with recommendations on supplementing the current law versus the European FDI legislation. The major implication of the study is the comparative analysis of Kosovo’s law in regard to the EU Law on FDI.

Impact of COVID-19 Pandemic on Tenancy Agreement: The Lesson from an Emerging Rental Housing Market in Nigeria

The study aimed at evaluating the contents of tenancy agreement entered into between lessors and lessees in Osogbo, Owode-Ede and Ede Metropolis in Osun State (Nigeria) from 2011 to 2020 in order to determine its adequacy in the face of the Post-COVID-19 pandemic in Nigeria. A questionnaire survey approach was adopted to achieve aim of the study. Findings of the study revealed steady dwindling of rental market transactions with deteriorating landlord/tenant relationship caused by disagreement on tenancy agreement related issues leading to default in rent payment, rent review period and renewal. Findings also indicated a low ebb experience in the rental market due to the economic downturn resulting from, among other factors, the lockdown policy, which impoverished Nigerians to the extent of struggling to make ends meet. The study further found that 86.3 % of the tenancy agreements were inadequate in content and execution as basic tenants’ remedial provisos were not included in most of the agreements. The study provided pertinent information that could be used as baseline information for tenancy agreement preparation, enhancing landlord (lessor) and tenant (lessee) relationship, and guiding rental real estate investment decisions in Nigeria.

A Spatiotemporal Analysis of Urban Densification in an Organically Growing Urban Area

Urban densification has attracted much attention in recent times, particularly in addressing certain urban problems such as urban sprawl and promoting compact development, though problems of unplanned densification are yet to be addressed in the literature. This paper examines space and time dynamics of urban densification, where patterns and changes in the residential densification of Bida urban area in Nigeria are assessed. The study relied on point features representing buildings for the years 2008, 2013, and 2018 digitized using ArcGIS 10.6. The data were analysed using Point Density spatial method to develop the spatiotemporal models which were further reclassified into three categories: low, medium, and high densities, respectively. The paper has found out that residential densities increase along the urban-rural gradient with clear evidence for unplanned urban densification as a result of the organic growth. Therefore, there is the need for planned densification in urban development which can curb the increasing residential density that reduces green and open spaces.