Pub Date : 2021-09-02DOI: 10.1080/14445921.2022.2110369
Thi Kim Nguyen, Tran Nam Quoc, D. T. Hang, Muhammad Najib Razali
ABSTRACT We have assessed the housing market of Vietnam, with particular apartment prices in 10 urban districts of Hanoi, the capital of Vietnam. Significant determinants of house price include construction cost, income per capita, urban rent expense, and lending rate. Our findings show statistically significant and dynamic determinant effects on the apartment prices of 10 urban districts of Ha Noi. There are signs of volatility clustering in the GARCH effect at nine districts’ apartment prices, all with magnified effects. Amongst the ordinary least square (OLS), robust least squares (RLS) and bootstrap technique, RLS presents more significant fundamentals with higher Rs squared than the OLS and bootstrap on individual districts and overall Hanoi apartment prices. We find signs of price bubbles in the first quarter of 2015. While this quantitative analysis is limited to the north of Vietnam, the findings also provide insights into other significant centres of Vietnam. It also provides a basis for apartment price forecasts to the stakeholders in the housing market of Vietnam, investment decision-making and portfolio management for both household investors and mortgage investors. The study outcomes can be used to forecast the volatility dynamics of the expanded types of dwellings.
{"title":"The dynamics of house price in Vietnam","authors":"Thi Kim Nguyen, Tran Nam Quoc, D. T. Hang, Muhammad Najib Razali","doi":"10.1080/14445921.2022.2110369","DOIUrl":"https://doi.org/10.1080/14445921.2022.2110369","url":null,"abstract":"ABSTRACT We have assessed the housing market of Vietnam, with particular apartment prices in 10 urban districts of Hanoi, the capital of Vietnam. Significant determinants of house price include construction cost, income per capita, urban rent expense, and lending rate. Our findings show statistically significant and dynamic determinant effects on the apartment prices of 10 urban districts of Ha Noi. There are signs of volatility clustering in the GARCH effect at nine districts’ apartment prices, all with magnified effects. Amongst the ordinary least square (OLS), robust least squares (RLS) and bootstrap technique, RLS presents more significant fundamentals with higher Rs squared than the OLS and bootstrap on individual districts and overall Hanoi apartment prices. We find signs of price bubbles in the first quarter of 2015. While this quantitative analysis is limited to the north of Vietnam, the findings also provide insights into other significant centres of Vietnam. It also provides a basis for apartment price forecasts to the stakeholders in the housing market of Vietnam, investment decision-making and portfolio management for both household investors and mortgage investors. The study outcomes can be used to forecast the volatility dynamics of the expanded types of dwellings.","PeriodicalId":44302,"journal":{"name":"Pacific Rim Property Research Journal","volume":null,"pages":null},"PeriodicalIF":0.8,"publicationDate":"2021-09-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49330859","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2021-09-02DOI: 10.1080/14445921.2022.2122292
J. Sheehan, Andrew Kelly, Pi-Ying Lai, K. Rayner
ABSTRACT The assessment of rising property values and the resultant urge to capture some, if not most, of the presumed unearned increment in values has always exposed land use planners and legislators to an arguably flawed but longstanding premise. After reviewing key salient literary and legal aspects, the paper provides empirical material from Australia derived from British common law, and Taiwan derived from civil law. The underlying flaw is revealed in the premise that increased development potential through zoning necessarily directly or indirectly results in rising property values. The authors also posit there is an absence of methodological discourse between property rights holders, land use planners and legislators on value capture. Furthermore, there are the justifiable expectations of the community regarding rising property values and subsequent value capture to fund the provision of major infrastructure such as roads and railways. While commentators on both sides of the debate seek a transparent set of value capture outcomes to establish precedents for the future, the likelihood of such attempts being questionable. To attempt a solution without dealing with all of these intertwining issues is to risk perpetuating the disconnect between good and well understood planning law and professional practice.
{"title":"A contrariant observation on assumed rising property values and value capture","authors":"J. Sheehan, Andrew Kelly, Pi-Ying Lai, K. Rayner","doi":"10.1080/14445921.2022.2122292","DOIUrl":"https://doi.org/10.1080/14445921.2022.2122292","url":null,"abstract":"ABSTRACT The assessment of rising property values and the resultant urge to capture some, if not most, of the presumed unearned increment in values has always exposed land use planners and legislators to an arguably flawed but longstanding premise. After reviewing key salient literary and legal aspects, the paper provides empirical material from Australia derived from British common law, and Taiwan derived from civil law. The underlying flaw is revealed in the premise that increased development potential through zoning necessarily directly or indirectly results in rising property values. The authors also posit there is an absence of methodological discourse between property rights holders, land use planners and legislators on value capture. Furthermore, there are the justifiable expectations of the community regarding rising property values and subsequent value capture to fund the provision of major infrastructure such as roads and railways. While commentators on both sides of the debate seek a transparent set of value capture outcomes to establish precedents for the future, the likelihood of such attempts being questionable. To attempt a solution without dealing with all of these intertwining issues is to risk perpetuating the disconnect between good and well understood planning law and professional practice.","PeriodicalId":44302,"journal":{"name":"Pacific Rim Property Research Journal","volume":null,"pages":null},"PeriodicalIF":0.8,"publicationDate":"2021-09-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42761634","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2021-09-02DOI: 10.1080/14445921.2022.2045538
Dabara Daniel Ibrahim, Chiwuzie Augustina, Guyimu Joshua, O. Asa, O. Omotehinshe
ABSTRACT The study examines the relationship between housing construction material prices and house rents in Ede town, Nigeria, from 2002 to 2020 to guide investment decisions. The research was conducted using a questionnaire survey. The study’s population consists of landlords, estate surveyors and valuers, real estate agents, and building material suppliers/sellers in the study area. Data obtained was analysed employing descriptive and inferential statistical tools. The results showed that house rents and building material prices maintained an upward trend within the study period. Changes in house rents correlated with some percentage changes in the prices of selected building materials (cement, roofing sheet, reinforcement bar, sand and tiles). However, all the correlations are not statistically significant at 0.05 level. The regression model’s coefficient of determination R-squared revealed that building material costs explained about 43.6% of the variation in house rents. This result implies that factors other than building material costs may influence the changes in the house rents. The study’s finding will be valuable to stakeholders making real estate investment decisions in the study area and similar developing economies in general.
{"title":"Housing construction materials and house rent trends in Ede, Nigeria","authors":"Dabara Daniel Ibrahim, Chiwuzie Augustina, Guyimu Joshua, O. Asa, O. Omotehinshe","doi":"10.1080/14445921.2022.2045538","DOIUrl":"https://doi.org/10.1080/14445921.2022.2045538","url":null,"abstract":"ABSTRACT The study examines the relationship between housing construction material prices and house rents in Ede town, Nigeria, from 2002 to 2020 to guide investment decisions. The research was conducted using a questionnaire survey. The study’s population consists of landlords, estate surveyors and valuers, real estate agents, and building material suppliers/sellers in the study area. Data obtained was analysed employing descriptive and inferential statistical tools. The results showed that house rents and building material prices maintained an upward trend within the study period. Changes in house rents correlated with some percentage changes in the prices of selected building materials (cement, roofing sheet, reinforcement bar, sand and tiles). However, all the correlations are not statistically significant at 0.05 level. The regression model’s coefficient of determination R-squared revealed that building material costs explained about 43.6% of the variation in house rents. This result implies that factors other than building material costs may influence the changes in the house rents. The study’s finding will be valuable to stakeholders making real estate investment decisions in the study area and similar developing economies in general.","PeriodicalId":44302,"journal":{"name":"Pacific Rim Property Research Journal","volume":null,"pages":null},"PeriodicalIF":0.8,"publicationDate":"2021-09-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45277463","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2021-09-02DOI: 10.1080/14445921.2022.2110370
Kwok-Chiu Lam
ABSTRACT Many studies are undertaken in Hong Kong or elsewhere to explore the impact of Feng Shui on house values. However, most of them seemingly mix it up with numerical superstition and seldom consider genuine Feng Shui factors except water view. Others simply treat those elements as environmental attributes and miss the most essential ingredient underlying Feng Shui’s Form School approach – orientation of dwellings. Moreover, under Compass School approach, there are entirely different meaning of the digits 1 to 9. Using a local private residential estate, we collect 622 sales transactions over 2018Q1 – 2021Q3 for analysis. We encompass diverse Feng Shui variables in a log-linear hedonic model and assess their price impacts. We find that southwest is the best facing direction of houses under Period 8. Whereas sea view can fetch a price premium of 2.46%, a great discount of 6.45% has to be offered for a residence facing Sha Qi. As Sha Qi diminishes with higher floors, homebuyers are willing to pay extra 0.1% for each upper floor. Hong Kong residents appear not numerological superstitious, but they do favor certain environmental attributes in accord with Feng Shui.
{"title":"Feng Shui and superstition in Hong Kong’s residential housing market","authors":"Kwok-Chiu Lam","doi":"10.1080/14445921.2022.2110370","DOIUrl":"https://doi.org/10.1080/14445921.2022.2110370","url":null,"abstract":"ABSTRACT Many studies are undertaken in Hong Kong or elsewhere to explore the impact of Feng Shui on house values. However, most of them seemingly mix it up with numerical superstition and seldom consider genuine Feng Shui factors except water view. Others simply treat those elements as environmental attributes and miss the most essential ingredient underlying Feng Shui’s Form School approach – orientation of dwellings. Moreover, under Compass School approach, there are entirely different meaning of the digits 1 to 9. Using a local private residential estate, we collect 622 sales transactions over 2018Q1 – 2021Q3 for analysis. We encompass diverse Feng Shui variables in a log-linear hedonic model and assess their price impacts. We find that southwest is the best facing direction of houses under Period 8. Whereas sea view can fetch a price premium of 2.46%, a great discount of 6.45% has to be offered for a residence facing Sha Qi. As Sha Qi diminishes with higher floors, homebuyers are willing to pay extra 0.1% for each upper floor. Hong Kong residents appear not numerological superstitious, but they do favor certain environmental attributes in accord with Feng Shui.","PeriodicalId":44302,"journal":{"name":"Pacific Rim Property Research Journal","volume":null,"pages":null},"PeriodicalIF":0.8,"publicationDate":"2021-09-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44619948","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2021-09-02DOI: 10.1080/14445921.2022.2122295
N. A. Bello, R. K. Alimi, M. O. Abdulraheem, Adetoye Adepoju
ABSTRACT This study provided an empirical framework that isolates the supply and demand perspectives in urban residential property transactions towards removing the information shield and asymmetry nature of property transaction information in Nigeria. A three-stage classical panel longitudinal design was adopted through feedback from completed transaction data on residential properties from the licensed estate agents. The study provided balanced and complete transaction information desired by the parties to any type of residential property transaction and bridged the wide gap between transaction expectation and actualization to prevent improper signalling in property transaction prescriptions. The study outcome generated vital indices and metrics for creating a complete property transaction database for the attraction of international professionals to participate in Nigeria’s urban property market transactions. This study is the first one in Nigeria to link the asking prices on sales and rental transactions in residential property transactions from the start to the conclusion.
{"title":"Supply and demand approaches to the urban residential property prices determination; transactions evidence from Nigeria","authors":"N. A. Bello, R. K. Alimi, M. O. Abdulraheem, Adetoye Adepoju","doi":"10.1080/14445921.2022.2122295","DOIUrl":"https://doi.org/10.1080/14445921.2022.2122295","url":null,"abstract":"ABSTRACT This study provided an empirical framework that isolates the supply and demand perspectives in urban residential property transactions towards removing the information shield and asymmetry nature of property transaction information in Nigeria. A three-stage classical panel longitudinal design was adopted through feedback from completed transaction data on residential properties from the licensed estate agents. The study provided balanced and complete transaction information desired by the parties to any type of residential property transaction and bridged the wide gap between transaction expectation and actualization to prevent improper signalling in property transaction prescriptions. The study outcome generated vital indices and metrics for creating a complete property transaction database for the attraction of international professionals to participate in Nigeria’s urban property market transactions. This study is the first one in Nigeria to link the asking prices on sales and rental transactions in residential property transactions from the start to the conclusion.","PeriodicalId":44302,"journal":{"name":"Pacific Rim Property Research Journal","volume":null,"pages":null},"PeriodicalIF":0.8,"publicationDate":"2021-09-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48716752","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2021-09-02DOI: 10.1080/14445921.2022.2110372
O. A. K’Akumu
ABSTRACT This paper revisits the ideas of Julian Diaz III that were expressed in his journal article titled, “Science, Engineering, and the Discipline of Real Estate” that appeared in the inaugural volume of Journal of Real Estate Literature in 1993. In this article, Julian Diaz III made a bold attempt to use ontological constructs to help define conceptual boundaries of the real estate discipline. The paper begins by reviewing Diaz III’s key conceptualizations of real estate in terms of real estate as applied science and real estate as a bundle of activities. It then proceeds to evaluate these conceptualizations and use them to develop the theory of dualism in real estate discipline. Two dualistic models are identified: the Physical Model of Real Estate and the Business Model of Real Estate. Thereafter, the paper uses this dualistic realization to repudiate the conceptualization of real estate as an appendage of engineering or business profession. Finally, the paper advocates for the conceptualization of real estate as an independent discipline.
{"title":"On the American perception of real estate as business: revisiting the ontological project of Julian Diaz III","authors":"O. A. K’Akumu","doi":"10.1080/14445921.2022.2110372","DOIUrl":"https://doi.org/10.1080/14445921.2022.2110372","url":null,"abstract":"ABSTRACT This paper revisits the ideas of Julian Diaz III that were expressed in his journal article titled, “Science, Engineering, and the Discipline of Real Estate” that appeared in the inaugural volume of Journal of Real Estate Literature in 1993. In this article, Julian Diaz III made a bold attempt to use ontological constructs to help define conceptual boundaries of the real estate discipline. The paper begins by reviewing Diaz III’s key conceptualizations of real estate in terms of real estate as applied science and real estate as a bundle of activities. It then proceeds to evaluate these conceptualizations and use them to develop the theory of dualism in real estate discipline. Two dualistic models are identified: the Physical Model of Real Estate and the Business Model of Real Estate. Thereafter, the paper uses this dualistic realization to repudiate the conceptualization of real estate as an appendage of engineering or business profession. Finally, the paper advocates for the conceptualization of real estate as an independent discipline.","PeriodicalId":44302,"journal":{"name":"Pacific Rim Property Research Journal","volume":null,"pages":null},"PeriodicalIF":0.8,"publicationDate":"2021-09-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47413495","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2021-05-04DOI: 10.1080/14445921.2021.2001724
R. Abidoye, Junge Ma, Chyi Lin Lee
ABSTRACT Embracing technological advancement in the property valuation practice is unavoidable. However, studies show that valuers largely still adopt traditional methods of valuation. Hence, this study investigates the barriers, drivers, and prospects of the adoption of artificial intelligence (AI) valuation methods in practice. An online questionnaire survey was conducted on valuers practising in Australia. Their opinions about the topic were collected and analysed using frequency distribution and mean score ranking to establish the most significant factors. According to the valuers, the most important advantage of AI valuation methods is that they will help to reduce the cost of valuations. It was also found that the professional bodies that regulate the property valuation practice are the major driver of the adoption of AI valuation methods. The valuers expressed that AI valuation methods may produce accurate estimates. The valuers confirmed that the main prospect of adopting the AI valuation methods in practice is that it could transform the property valuation industry. It is evident that all the property valuation stakeholders should invest efforts in promoting the adoption of AI valuation methods in practice to bridge the gap between theory and practice. This will help reposition the property valuation profession.
{"title":"Barriers, drivers and prospects of the adoption of artificial intelligence property valuation methods in practice","authors":"R. Abidoye, Junge Ma, Chyi Lin Lee","doi":"10.1080/14445921.2021.2001724","DOIUrl":"https://doi.org/10.1080/14445921.2021.2001724","url":null,"abstract":"ABSTRACT Embracing technological advancement in the property valuation practice is unavoidable. However, studies show that valuers largely still adopt traditional methods of valuation. Hence, this study investigates the barriers, drivers, and prospects of the adoption of artificial intelligence (AI) valuation methods in practice. An online questionnaire survey was conducted on valuers practising in Australia. Their opinions about the topic were collected and analysed using frequency distribution and mean score ranking to establish the most significant factors. According to the valuers, the most important advantage of AI valuation methods is that they will help to reduce the cost of valuations. It was also found that the professional bodies that regulate the property valuation practice are the major driver of the adoption of AI valuation methods. The valuers expressed that AI valuation methods may produce accurate estimates. The valuers confirmed that the main prospect of adopting the AI valuation methods in practice is that it could transform the property valuation industry. It is evident that all the property valuation stakeholders should invest efforts in promoting the adoption of AI valuation methods in practice to bridge the gap between theory and practice. This will help reposition the property valuation profession.","PeriodicalId":44302,"journal":{"name":"Pacific Rim Property Research Journal","volume":null,"pages":null},"PeriodicalIF":0.8,"publicationDate":"2021-05-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48297921","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2021-05-04DOI: 10.1080/14445921.2021.1992260
John Sheehan, Jasper Brown, K. Rayner
ABSTRACT Sovereign governments generally benefit from the capacity to commute private property rights to public ownership in order to undertake projects for the public benefit. When private property rights are compulsorily acquired by Australian governments, the criteria for the assessment of compensation accruing to the dispossessed landowner ordinarily requires consideration of a raft of heads of possible compensation. The primary aim of this paper is to canvass how those elements of traditional concepts of solatium as one of the heads of compensation ought now be viewed in the light of the defining High Court decision in Northern Territory v Griffiths [2019] HCA 7. However, a secondary aim (of the authors) is also to give consideration as to how the notion of solatium now fits in the broader Constitutional framework of the heads of compensation for private property rights compulsorily acquired. NSW legislation is used in this paper as a general exemplar of the Australian legal milieu regarding compulsory acquisition law and practice.
摘要主权政府通常受益于将私有产权转换为公有制的能力，以便开展有利于公众利益的项目。当澳大利亚政府强制获得私人产权时，评估被剥夺土地所有者应获得的补偿的标准通常需要考虑一系列可能的补偿。本文的主要目的是根据高等法院在Northern Territory v Griffiths[199]HCA 7一案中的决定性裁决，探讨如何看待作为赔偿主体之一的赡养费传统概念的这些要素。然而，（提交人）的第二个目的也是考虑赡养费的概念现在如何符合对强制获得的私人财产权进行赔偿的负责人的更广泛的宪法框架。本文将新南威尔士州的立法作为澳大利亚法律环境中关于强制收购法律和实践的一般范例。
{"title":"On solatium: towards a rethinking of compensation","authors":"John Sheehan, Jasper Brown, K. Rayner","doi":"10.1080/14445921.2021.1992260","DOIUrl":"https://doi.org/10.1080/14445921.2021.1992260","url":null,"abstract":"ABSTRACT Sovereign governments generally benefit from the capacity to commute private property rights to public ownership in order to undertake projects for the public benefit. When private property rights are compulsorily acquired by Australian governments, the criteria for the assessment of compensation accruing to the dispossessed landowner ordinarily requires consideration of a raft of heads of possible compensation. The primary aim of this paper is to canvass how those elements of traditional concepts of solatium as one of the heads of compensation ought now be viewed in the light of the defining High Court decision in Northern Territory v Griffiths [2019] HCA 7. However, a secondary aim (of the authors) is also to give consideration as to how the notion of solatium now fits in the broader Constitutional framework of the heads of compensation for private property rights compulsorily acquired. NSW legislation is used in this paper as a general exemplar of the Australian legal milieu regarding compulsory acquisition law and practice.","PeriodicalId":44302,"journal":{"name":"Pacific Rim Property Research Journal","volume":null,"pages":null},"PeriodicalIF":0.8,"publicationDate":"2021-05-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41778963","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2021-05-04DOI: 10.1080/14445921.2021.1983925
S. Boyd
ABSTRACT Active learning compels non-academic students to employ deeper learning strategies. Unfortunately, established activities to encourage active learning are resource intensive and do not suit physically distanced modes of delivery. This research presents an active learning module and proposes a novel structured approach to enhance the learning and teaching of financial modelling in property education, during and after COVID-19. A review of past research presents ways to encourage deeper learning. This research is primarily based on findings from published property education research. It builds on that knowledge as it shares the design of Valuation Modelling online module and the application of Petronzi and Petronzi’s (2020) Online and Campus (OaC) model, as a response to COVID-19. The OaC model is adapted to bring forward an applied learning activity, the development of a working valuation spreadsheet. The result is higher education unit, or subject, with an Apply, Evaluate, and Solve (AES) structure that aligns with academic frameworks, and has the potential to accommodate case-based and problem-based learning activities with less reliance on human resources. The Valuation Modelling module and its incorporation into an AES framed unit of study are demonstrated as contributions of this research.
{"title":"The structured learning of valuation modelling","authors":"S. Boyd","doi":"10.1080/14445921.2021.1983925","DOIUrl":"https://doi.org/10.1080/14445921.2021.1983925","url":null,"abstract":"ABSTRACT Active learning compels non-academic students to employ deeper learning strategies. Unfortunately, established activities to encourage active learning are resource intensive and do not suit physically distanced modes of delivery. This research presents an active learning module and proposes a novel structured approach to enhance the learning and teaching of financial modelling in property education, during and after COVID-19. A review of past research presents ways to encourage deeper learning. This research is primarily based on findings from published property education research. It builds on that knowledge as it shares the design of Valuation Modelling online module and the application of Petronzi and Petronzi’s (2020) Online and Campus (OaC) model, as a response to COVID-19. The OaC model is adapted to bring forward an applied learning activity, the development of a working valuation spreadsheet. The result is higher education unit, or subject, with an Apply, Evaluate, and Solve (AES) structure that aligns with academic frameworks, and has the potential to accommodate case-based and problem-based learning activities with less reliance on human resources. The Valuation Modelling module and its incorporation into an AES framed unit of study are demonstrated as contributions of this research.","PeriodicalId":44302,"journal":{"name":"Pacific Rim Property Research Journal","volume":null,"pages":null},"PeriodicalIF":0.8,"publicationDate":"2021-05-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44639454","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2021-05-04DOI: 10.1080/14445921.2022.2056301
Effah Amponsah, C. Eves, D. Halvitigala, Hyemi Hwang
ABSTRACT This article examines the laws and valuation methods that valuers apply in assessing compensation for land use deprivation in Ghana’s mining sector using two mining companies as case studies. We argue that analysing the valuation techniques applied in assessing compensation for land use deprivation in the context of current legal provisions facilitates a better understanding of the issues fuelling community dissatisfaction with compensation awards. Data produced through document analysis and interviews with 39 farmers, government officials, chiefs, private valuers, and officials of Newmont Goldcorp’s Ahafo Mine and Asanko Gold Ghana Limited were analysed in the context of the current legal framework for expropriation. Interview transcripts were coded based on themes and analysed using the constant comparison method. The findings reveal that the valuation techniques for assessing compensation for land use deprivation disregard fundamental compensation principles outlined under law. The study also exposes the weaknesses in the valuation techniques in assessing compensation for farmlands that mining may impair permanently. Towards ensuring fairness in compensating mining-impacted farmers, this study recommends additional legal directives to streamline the methods for assessing compensation for land use deprivation. The consequences of the limitations in the valuation methods on expropriated farmers are also discussed.
{"title":"Compensation for land use deprivation in mining: an analysis of the laws and practices relating to land use deprivation compensation in Ghana’s mining sector","authors":"Effah Amponsah, C. Eves, D. Halvitigala, Hyemi Hwang","doi":"10.1080/14445921.2022.2056301","DOIUrl":"https://doi.org/10.1080/14445921.2022.2056301","url":null,"abstract":"ABSTRACT This article examines the laws and valuation methods that valuers apply in assessing compensation for land use deprivation in Ghana’s mining sector using two mining companies as case studies. We argue that analysing the valuation techniques applied in assessing compensation for land use deprivation in the context of current legal provisions facilitates a better understanding of the issues fuelling community dissatisfaction with compensation awards. Data produced through document analysis and interviews with 39 farmers, government officials, chiefs, private valuers, and officials of Newmont Goldcorp’s Ahafo Mine and Asanko Gold Ghana Limited were analysed in the context of the current legal framework for expropriation. Interview transcripts were coded based on themes and analysed using the constant comparison method. The findings reveal that the valuation techniques for assessing compensation for land use deprivation disregard fundamental compensation principles outlined under law. The study also exposes the weaknesses in the valuation techniques in assessing compensation for farmlands that mining may impair permanently. Towards ensuring fairness in compensating mining-impacted farmers, this study recommends additional legal directives to streamline the methods for assessing compensation for land use deprivation. The consequences of the limitations in the valuation methods on expropriated farmers are also discussed.","PeriodicalId":44302,"journal":{"name":"Pacific Rim Property Research Journal","volume":null,"pages":null},"PeriodicalIF":0.8,"publicationDate":"2021-05-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41737317","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
京公网安备 11010802042870号
京ICP备2023020795号-1
扫码关注我们
求助内容：
应助结果提醒方式：