International Journal of Strategic Property Management

Housing price, family structures and household consumption: Empirical evidence of Taiwan

Chih-Hsing Hung — 2024-07-25

The housing price affects the allocation of family budget on consumption. We use regression analysis to confirm whether Taiwan’s housing prices have a significant influence on household consumption based on the questionnaire survey on household income and expenditure in 2018. We find that housing prices have the greatest impact on household consumption, possibly because housing accounts for the largest proportion of household assets, implying a significant wealth effect. In addition, the impact of interest of deposit on consumption is also found to be greater than that of household income as it is related to the level of total assets. The housing prices for single-person household with female gender have a negative and significant impact on household consumption. Finally, housing prices are found to have a significantly negative effect on non-consumption and current transfer expenditure. The possible reason is that the households who hold the house believe that the appreciation of housing price can provide more protection for the family from suffering from possible economic risks in the future and thus crowd out non-consumption expenditures.

Developing a model software to determine the effect of High Voltage Transmission Lines (HVTL) on the residential land value by using AHP method

Seda Nur Marabaoğlu — 2024-08-19

Due to High Voltage Transmission Lines (HVTL), easement expropriation is made and an easement price (compensation) is paid to the property owner. Since there is not a standard method, this price is calculated inappropriately and inaccurately. Therefore, either the property owner or the government suffers material damage. The main objective of this study is to determine the impact of HVTL factors on property value using the Analytical Hierarchy Process (AHP) method. Additionally, within the scope of the study, the aim is to develop a software model that automatically detects impairment rate and easement prices. In the study, a total of 79 individuals from 21 different countries participated in the national and international survey. The weights of the factors were determined using the AHP. A model software was created by integrating the weight values and the interface software of the model was created. The model software was tested with sixty expert reports prepared by different experts collected from ten different provinces. The rate of error in the expert reports was found to be at least 0.38% and at most 84.98%. With this software, an appraisal standard that will largely eliminate the existing injustices in the determination of the easement price will be provided. In addition, the inconsistencies between the expert reports of similar parcels and easements will be reduced, and easement prices will be paid fairly.

Elevating property management in public housing: A systematic literature review

Jes She Teo — 2024-09-03

Public housing (PH) focuses on assisting low-income households with housing stability. However, the inefficiency of property management in PH gives rise to a range of challenges in both physical and internal operational management, leading to negative stigmatisation towards tenants living in PH. Various initiatives have been launched to address the inefficiencies of property management. This study categorised and elaborated these initiatives under three main categories: reconceptualisation, externalisation, and managerialisation. There is currently no systematic literature review that provides a comprehensive overview of the initiatives aimed at enhancing property management in PH on a global scale, despite the fact that an overwhelming number of initiatives have been proposed in various studies. Therefore, the present systematic literature review was conducted to provide a comprehensive understanding of the existing research and initiatives pertinent to PH property management. This thorough examination will not only inform the current state of property management practices but also provide valuable insights to guide future research endeavours and decision-making processes in this domain. The outcome of this study revealed the positive impact of managerialisation, showcasing its pivotal role in problem identification and as a strategic indicator for proposing solutions aimed at continuous improvement.

The incentive effects of project governance elements on agents in agent-led construction of social security housing projects

Zhiqi Chen — 2024-09-03

The agent-led construction system is a construction mode that emphasizes the introduction of professional management teams instead of government departments to develop public projects in China, including social security housing. In reality, the problem in practice is that the government owners’ management system of the agent market is not sound enough, and it cannot effectively motivate the agents. Existing research has not paid enough attention to this agent construction market. To reveal the effective incentives of agent developers, using the stimulus–organism–response theory, this study constructed a structural equation model and proposed a research hypothesis about the effect of project governance elements on project performance. The study found that governance elements including internal contractual governance, external contractual governance, and relational governance, had a positive incentivizing effect on the project performance. The psychology and behavior of the construction agent played a partial mediating role. The results provide a policy implication for city government to improve the incentive system for agent construction of security housing projects.