PurposeThere is a long-standing debate about the relationship between land title registration and tenure security. Studies in the developing world point to a tenuous link between land registration and stable land tenure. The reason why people continue to register therefore becomes a mystery if tenure security is not entirely assured. This article focuses on the increase in property value as one such factor that induces title registration. Previous studies have quantified the economic impact of title registration on property values. However, the impact varies from city or country to another. The authors seek to investigate the extent of property value increment in Accra attributable to land title registration.Design/methodology/approachThe authors statistically analyzed a data set from two institutions (First National Bank and the Lands Commission) in Ghana using a quantitative technique.FindingsThe authors discovered that, holding all other factors constant, the value of the land in Accra increases by 22.6% due to land title registration. This shows that lessees must register to enhance property values, even though the essential due diligence must be done to make sure the acquisition is free from liens and legal disputes.Practical implicationsThis article highlights the implication of the findings for land administration as well as the practice of property valuation, development and brokerage in Ghana and Global South more broadly.Originality/valueThis is one of the first studies in Ghana to investigate the specific premium that housing markets put on land title registration.
{"title":"The nexus between land title registration and property prices in Ghana: evidence from Accra’s housing market","authors":"A. Owusu-Ansah, L. A. Asante, Zaid Abubakari","doi":"10.1108/pm-03-2023-0022","DOIUrl":"https://doi.org/10.1108/pm-03-2023-0022","url":null,"abstract":"PurposeThere is a long-standing debate about the relationship between land title registration and tenure security. Studies in the developing world point to a tenuous link between land registration and stable land tenure. The reason why people continue to register therefore becomes a mystery if tenure security is not entirely assured. This article focuses on the increase in property value as one such factor that induces title registration. Previous studies have quantified the economic impact of title registration on property values. However, the impact varies from city or country to another. The authors seek to investigate the extent of property value increment in Accra attributable to land title registration.Design/methodology/approachThe authors statistically analyzed a data set from two institutions (First National Bank and the Lands Commission) in Ghana using a quantitative technique.FindingsThe authors discovered that, holding all other factors constant, the value of the land in Accra increases by 22.6% due to land title registration. This shows that lessees must register to enhance property values, even though the essential due diligence must be done to make sure the acquisition is free from liens and legal disputes.Practical implicationsThis article highlights the implication of the findings for land administration as well as the practice of property valuation, development and brokerage in Ghana and Global South more broadly.Originality/valueThis is one of the first studies in Ghana to investigate the specific premium that housing markets put on land title registration.","PeriodicalId":46102,"journal":{"name":"Property Management","volume":" ","pages":""},"PeriodicalIF":1.0,"publicationDate":"2023-06-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46478857","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 : 2023-06-01DOI: 10.4049/jimmunol.2300062
Donna L Farber
{"title":"Memory CD4 T Cell Distribution and Recall Function in Nonlymphoid Organs.","authors":"Donna L Farber","doi":"10.4049/jimmunol.2300062","DOIUrl":"10.4049/jimmunol.2300062","url":null,"abstract":"","PeriodicalId":46102,"journal":{"name":"Property Management","volume":"27 1","pages":"1627-1628"},"PeriodicalIF":0.0,"publicationDate":"2023-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"84245940","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}
PurposeHigher education institutions are the citadel of knowledge and are heavily involved in formulating building regulations and building infrastructure designs that must conform to the building regulations. The study aims to identify university infrastructures compliant with disabled access from the perspective of the built environment students in Ghanaian universities.Design/methodology/approachQuestionnaire surveys were administered to 500 built environment students across ten technical universities in Ghana with a total population of 3066; 341 were expected based on the formula used. However, upon several reminders, 176 responded. Data collected were analysed using Statistical Package for the Social Sciences.FindingsThe findings show that all university facilities are not fully compliant with disabled access. Structures found to be least compliant are the laboratories, canteens, hall of residence, toilet facilities, football fields, places of worship and transport stations. The facilities with high compliance are the administration block, library, hospital building, lecture halls, department offices and ATM areas. The leading causes for this non-compliant are lack of enforcement of the building regulations, low level of disabled students’ enrolment, age of the building, lack of knowledge and poor building designs.Practical implicationsCompliance with disabled access makes universities world class and creates safe learning spaces for individuals with disabilities, enforcing the right to education for all individuals, particularly those with disabilities. Lack of compliance with disabled access will hamper the full utilisation of these facilities, thereby affecting quality education delivery to people with disabilities.Originality/valueThe findings are essential to the Ghanaian built environment, the lives of disabled individuals and universities. The results provide knowledge on areas of improvement for complete access to structures and facilities by disabled individuals.
{"title":"Disable access compliance to university infrastructure: built environment students’ perceptions","authors":"C. Amoah, E. Bamfo-Agyei, F. Simpeh","doi":"10.1108/pm-01-2023-0004","DOIUrl":"https://doi.org/10.1108/pm-01-2023-0004","url":null,"abstract":"PurposeHigher education institutions are the citadel of knowledge and are heavily involved in formulating building regulations and building infrastructure designs that must conform to the building regulations. The study aims to identify university infrastructures compliant with disabled access from the perspective of the built environment students in Ghanaian universities.Design/methodology/approachQuestionnaire surveys were administered to 500 built environment students across ten technical universities in Ghana with a total population of 3066; 341 were expected based on the formula used. However, upon several reminders, 176 responded. Data collected were analysed using Statistical Package for the Social Sciences.FindingsThe findings show that all university facilities are not fully compliant with disabled access. Structures found to be least compliant are the laboratories, canteens, hall of residence, toilet facilities, football fields, places of worship and transport stations. The facilities with high compliance are the administration block, library, hospital building, lecture halls, department offices and ATM areas. The leading causes for this non-compliant are lack of enforcement of the building regulations, low level of disabled students’ enrolment, age of the building, lack of knowledge and poor building designs.Practical implicationsCompliance with disabled access makes universities world class and creates safe learning spaces for individuals with disabilities, enforcing the right to education for all individuals, particularly those with disabilities. Lack of compliance with disabled access will hamper the full utilisation of these facilities, thereby affecting quality education delivery to people with disabilities.Originality/valueThe findings are essential to the Ghanaian built environment, the lives of disabled individuals and universities. The results provide knowledge on areas of improvement for complete access to structures and facilities by disabled individuals.","PeriodicalId":46102,"journal":{"name":"Property Management","volume":" ","pages":""},"PeriodicalIF":1.0,"publicationDate":"2023-05-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48519691","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}
PurposeThere is widespread and long-lasting worry related to the condition of public purpose buildings and public investments. Public buildings make up a huge capital stock and proper maintenance and investments are important for public policy. Notwithstanding, the relevant research literature is fragmented and spread across several fields. The authors take stock of earlier and more recent research and suggest some ideas for future research.Design/methodology/approachThe authors summarize the relevant literature and discuss implications of various theoretical assumptions and empirical findings for maintenance and investment strategies.FindingsA better understanding of the role of public facilities in public service provision is important. Relevant topics for further research are the impact of technological changes, both in buildings and service provision, economic issues including macroeconomic shocks and trends that influence public funding and demand for public services, and advancing maintenance scheduling models to consider a portfolio of facilities. Further, the empirical literature suffers from a lack of relevant data to gauge both the condition of public facilities and their impact on public services.Originality/valueThere is widespread worry that poor facilities adversely impact public services, but the size and significance of this impact are an open question. This paper contributes by taking stock of the existing research on public facilities, maintenance, and investments, and suggest ideas for further work.
{"title":"Investments and maintenance spending for public facilities: what do we know and what do we want to know","authors":"Arnt O. Hopland, S. Kvamsdal","doi":"10.1108/pm-04-2022-0030","DOIUrl":"https://doi.org/10.1108/pm-04-2022-0030","url":null,"abstract":"PurposeThere is widespread and long-lasting worry related to the condition of public purpose buildings and public investments. Public buildings make up a huge capital stock and proper maintenance and investments are important for public policy. Notwithstanding, the relevant research literature is fragmented and spread across several fields. The authors take stock of earlier and more recent research and suggest some ideas for future research.Design/methodology/approachThe authors summarize the relevant literature and discuss implications of various theoretical assumptions and empirical findings for maintenance and investment strategies.FindingsA better understanding of the role of public facilities in public service provision is important. Relevant topics for further research are the impact of technological changes, both in buildings and service provision, economic issues including macroeconomic shocks and trends that influence public funding and demand for public services, and advancing maintenance scheduling models to consider a portfolio of facilities. Further, the empirical literature suffers from a lack of relevant data to gauge both the condition of public facilities and their impact on public services.Originality/valueThere is widespread worry that poor facilities adversely impact public services, but the size and significance of this impact are an open question. This paper contributes by taking stock of the existing research on public facilities, maintenance, and investments, and suggest ideas for further work.","PeriodicalId":46102,"journal":{"name":"Property Management","volume":"1 1","pages":""},"PeriodicalIF":1.0,"publicationDate":"2023-05-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41513909","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}
J. Gbadegesin, Sunday Olarinre Oladokun, Abdul-Rasheed Amidu, A. Agboola
PurposeConsidering the changing dimensions of client influence in the emerging sub-market in Nigeria, different from previous general insinuations, this article examines the new strategies adopted by clients to influence estate surveyors and valuers (ESVs), factors that predispose ESVs to client influence and the effects of clients' influence on valuation outcomes and real estate markets in emerging sub-market, using Ibadan market as the study area.Design/methodology/approachThe paper is situated within a client influence assessment framework, modified to reflect contextual incidents. Contextualization was made possible with the involvement of both practitioners and academic researchers. Validated copies of the questionnaire were administered to the registered practicing ESVs in an intact group during their monthly state (provincial) meeting and through direct delivery at their firms. Data collected were analyzed using descriptive and inferential statistics.FindingsContrary to the previous studies, the authors found no significant relationship between ESV professional qualifications, the firm's staff strength and the frequency of clients' influence in valuation assignments. Hiding important information and clauses, begging, lobbying, and seeking undue favor and promises for future jobs or appointments are the influencing strategies clients employ to pressure valuer. The topmost factors are emerging sub-market and economic-induced factors, lack of due process, and adequate transparency on the parts of firms and Valuers. It was established that the new dimension of client influence leads to the mortgage valuation accuracy dilemma, discredit of professional confidence, default and financial distress, and generating mistrust in the property market.Practical implicationsThe implication is the new dimension of client influence, different from the previous studies, thus calling for professional and policy attention. As real estate investment and transactions transcend globally, understanding the local sub-market condition is imperative.Originality/valueThe novelty of the paper is the exposition on the dimensions of client influence within the economy and the implication for the professional body regulatory policy.
{"title":"Location-induced client influence in valuation for loan security: the new terra incognita for emerging property sub-markets","authors":"J. Gbadegesin, Sunday Olarinre Oladokun, Abdul-Rasheed Amidu, A. Agboola","doi":"10.1108/pm-12-2021-0104","DOIUrl":"https://doi.org/10.1108/pm-12-2021-0104","url":null,"abstract":"PurposeConsidering the changing dimensions of client influence in the emerging sub-market in Nigeria, different from previous general insinuations, this article examines the new strategies adopted by clients to influence estate surveyors and valuers (ESVs), factors that predispose ESVs to client influence and the effects of clients' influence on valuation outcomes and real estate markets in emerging sub-market, using Ibadan market as the study area.Design/methodology/approachThe paper is situated within a client influence assessment framework, modified to reflect contextual incidents. Contextualization was made possible with the involvement of both practitioners and academic researchers. Validated copies of the questionnaire were administered to the registered practicing ESVs in an intact group during their monthly state (provincial) meeting and through direct delivery at their firms. Data collected were analyzed using descriptive and inferential statistics.FindingsContrary to the previous studies, the authors found no significant relationship between ESV professional qualifications, the firm's staff strength and the frequency of clients' influence in valuation assignments. Hiding important information and clauses, begging, lobbying, and seeking undue favor and promises for future jobs or appointments are the influencing strategies clients employ to pressure valuer. The topmost factors are emerging sub-market and economic-induced factors, lack of due process, and adequate transparency on the parts of firms and Valuers. It was established that the new dimension of client influence leads to the mortgage valuation accuracy dilemma, discredit of professional confidence, default and financial distress, and generating mistrust in the property market.Practical implicationsThe implication is the new dimension of client influence, different from the previous studies, thus calling for professional and policy attention. As real estate investment and transactions transcend globally, understanding the local sub-market condition is imperative.Originality/valueThe novelty of the paper is the exposition on the dimensions of client influence within the economy and the implication for the professional body regulatory policy.","PeriodicalId":46102,"journal":{"name":"Property Management","volume":" ","pages":""},"PeriodicalIF":1.0,"publicationDate":"2023-05-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48559032","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}
PurposeDescribe the trends in investments in the water, sewage and waste disposal sector (WSD) in Norwegian local governments and search for determinants that can explain variations in investment levels across local governments. The water, sewage and WSD is the second most important sector in Norwegian local governments in terms of the share of total investments and is subject to much debate due to aging pipelines in many communities. However, as pipelines are hidden in the ground, this is also a sector that can easily be forgotten until an actual failure in the system occurs.Design/methodology/approachThe authors analyze a large data set of all Norwegian local governments in the period 2003–2018 using descriptive statistics and regression techniques.FindingsThe investment levels are driven by need, in terms of expectations of a growing population, and fiscal capacity. Hence, the authors conclude that the investment decisions seem to be mostly based on reasonably rational evaluations of the local governments' future needs and capacity to pay for investments.Originality/valueThe paper contributes to the literature on determinants of public capital expenditures. An important part of this debate is whether differences in expenditure levels reflect rational decisions based on changes in need and fiscal capacity or shortsighted policy decisions.
{"title":"Investment in water, sewage and waste disposal in Norwegian local governments","authors":"Arnt O. Hopland, Marianne Haraldsvik, S. Kvamsdal","doi":"10.1108/pm-10-2022-0073","DOIUrl":"https://doi.org/10.1108/pm-10-2022-0073","url":null,"abstract":"PurposeDescribe the trends in investments in the water, sewage and waste disposal sector (WSD) in Norwegian local governments and search for determinants that can explain variations in investment levels across local governments. The water, sewage and WSD is the second most important sector in Norwegian local governments in terms of the share of total investments and is subject to much debate due to aging pipelines in many communities. However, as pipelines are hidden in the ground, this is also a sector that can easily be forgotten until an actual failure in the system occurs.Design/methodology/approachThe authors analyze a large data set of all Norwegian local governments in the period 2003–2018 using descriptive statistics and regression techniques.FindingsThe investment levels are driven by need, in terms of expectations of a growing population, and fiscal capacity. Hence, the authors conclude that the investment decisions seem to be mostly based on reasonably rational evaluations of the local governments' future needs and capacity to pay for investments.Originality/valueThe paper contributes to the literature on determinants of public capital expenditures. An important part of this debate is whether differences in expenditure levels reflect rational decisions based on changes in need and fiscal capacity or shortsighted policy decisions.","PeriodicalId":46102,"journal":{"name":"Property Management","volume":" ","pages":""},"PeriodicalIF":1.0,"publicationDate":"2023-05-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45262679","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}
PurposeIn English valuation practice, when valuing small to medium size (StMS) shops, rental analysis is undertaken using zoning based on the argument that shop fronts including window displays attract customers to shops and that most trading takes place in the internal frontage area making it the most valuable part of shops. Albeit zoning has been critiqued, it remains the preferred method of rental analysis. The paper aims to answer two research questions: are shop fronts including window displays the only factor that attracts customers to shops? And is the frontage space within shops the area most trading takes place?Design/methodology/approachThe exploratory qualitative research methodology was used, and primary data collected by observing 178 shops in selected five shopping areas. The observational data were complemented with the use of secondary data.FindingsThe study has shown that shop fronts are not the only factor attracting clientele to shops as there are other varied factors including location, availability of Internet and hoardings. There is no evidence to suggest most goods in shops are displayed at the frontage space that attract most customers to that area, thereby, making the area the most valuable part, which decreases backwards.Practical implicationsThese findings coupled with extant research evidence implies zoning can lead to under or over valuation of StMS shops (which is not good for retail real estate (RE) management or market), and turnover generated from shops is the overarching determinant of rental values in valuation.Originality/valueThis is the first time the very foundation/underpinning principles of zoning have been subjected to scrutiny in England.
{"title":"Relevance of zoning small to medium size (StMS) shops in contemporary English valuation surveying practice in Newcastle upon Tyne, England","authors":"R. Abdulai","doi":"10.1108/pm-10-2022-0083","DOIUrl":"https://doi.org/10.1108/pm-10-2022-0083","url":null,"abstract":"PurposeIn English valuation practice, when valuing small to medium size (StMS) shops, rental analysis is undertaken using zoning based on the argument that shop fronts including window displays attract customers to shops and that most trading takes place in the internal frontage area making it the most valuable part of shops. Albeit zoning has been critiqued, it remains the preferred method of rental analysis. The paper aims to answer two research questions: are shop fronts including window displays the only factor that attracts customers to shops? And is the frontage space within shops the area most trading takes place?Design/methodology/approachThe exploratory qualitative research methodology was used, and primary data collected by observing 178 shops in selected five shopping areas. The observational data were complemented with the use of secondary data.FindingsThe study has shown that shop fronts are not the only factor attracting clientele to shops as there are other varied factors including location, availability of Internet and hoardings. There is no evidence to suggest most goods in shops are displayed at the frontage space that attract most customers to that area, thereby, making the area the most valuable part, which decreases backwards.Practical implicationsThese findings coupled with extant research evidence implies zoning can lead to under or over valuation of StMS shops (which is not good for retail real estate (RE) management or market), and turnover generated from shops is the overarching determinant of rental values in valuation.Originality/valueThis is the first time the very foundation/underpinning principles of zoning have been subjected to scrutiny in England.","PeriodicalId":46102,"journal":{"name":"Property Management","volume":" ","pages":""},"PeriodicalIF":1.0,"publicationDate":"2023-04-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43361496","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}
PurposeThe property valuation process involves the property valuer expressing expertise in reaction to a client' instruction. However, there are instances where clients, driven by self-interest, impose their will to influence valuers into returning property valuation figures that are not the true reflection of the valuer's assessment. This paper set out to revisit the issue of client influence in property valuation by conducting a scoping review to establish key findings, gaps, implications and solutions.Design/methodology/approachIn total, 21 articles on client influence published from 1997 till date were systematically obtained from Scopus, Web of Science, Google Scholar and through citation searching and reviewed through a “Patterns, Advances, Gaps, Evidence for practice and Research recommendations (PAGER)” framework. Further analysis and visualisation were performed using VOSviewer software.FindingsThis study found that based on the number of studies, the issue of client influence has received empirical attention, which is few and far between, with financial institutions identified as the major culprits in most of those studies. One core reason for this is the stakes involved in the finance sector, which relies on property valuation for loan disbursement and performance measurement. Furthermore, previous studies have focused on identifying the issue through the lens of the property valuer without giving recourse to the client's perspective on what may drive the issue.Research limitations/implicationsThis study provides evidence that the issue of client influence persists, with some elements of bias in the methodology. Furthermore, the solutions proffered have focused on the valuer and have not been tested to ascertain their effectiveness. Future studies can consider examining the issue from the perspective of financial institutions.Originality/valueThis study is one of the first review studies on client influence on property valuation. It is also the first to identify a pattern in client influence studies that points to the issue being perpetuated by financial institutions. Furthermore, it is the first in recent time to reveal how limited study has been conducted in the area as well as the solutions which have neither been tested nor implemented.
目的物业估价过程涉及物业估价师根据客户的指示表达专业知识。然而，在某些情况下，客户出于自身利益的驱使，强行施加自己的意愿，迫使估价师返回并非真实反映估价师评估结果的物业估值数字。本文旨在重新审视客户对物业估价的影响问题，并进行范围审查，以确定主要发现、差距、影响和解决方案。从1997年至今，共发表了21篇关于客户影响力的文章，系统地从Scopus、Web of Science、b谷歌Scholar上获取，并通过引文搜索，通过“模式、进展、差距、实践证据和研究建议(PAGER)”框架进行了审查。使用VOSviewer软件进行进一步分析和可视化。本研究发现，基于研究的数量，客户影响问题得到了实证关注，这是很少的，而且在大多数研究中，金融机构被确定为主要的罪魁祸首。造成这种情况的一个核心原因是，金融业涉及的股权依赖于房地产估值来发放贷款和衡量业绩。此外，以前的研究侧重于通过房地产估价师的视角来识别问题，而没有求助于客户对可能导致问题的因素的看法。研究局限/启示本研究提供的证据表明，客户影响问题仍然存在，方法中存在一些偏见因素。此外，所提供的解决方案侧重于评估者，尚未经过测试以确定其有效性。未来的研究可以考虑从金融机构的角度来审视这个问题。原创性/价值本研究是第一个关于客户对物业估价影响的综述性研究。它还首次在客户影响研究中发现了一种模式，表明金融机构正在长期存在这一问题。此外，这是近年来第一次揭示在该领域进行的有限研究以及既没有测试也没有实施的解决方案。
{"title":"Client influence in property valuation: a scoping literature review","authors":"C. Adilieme, R. Abidoye, Chyi Lin Lee","doi":"10.1108/pm-09-2022-0061","DOIUrl":"https://doi.org/10.1108/pm-09-2022-0061","url":null,"abstract":"PurposeThe property valuation process involves the property valuer expressing expertise in reaction to a client' instruction. However, there are instances where clients, driven by self-interest, impose their will to influence valuers into returning property valuation figures that are not the true reflection of the valuer's assessment. This paper set out to revisit the issue of client influence in property valuation by conducting a scoping review to establish key findings, gaps, implications and solutions.Design/methodology/approachIn total, 21 articles on client influence published from 1997 till date were systematically obtained from Scopus, Web of Science, Google Scholar and through citation searching and reviewed through a “Patterns, Advances, Gaps, Evidence for practice and Research recommendations (PAGER)” framework. Further analysis and visualisation were performed using VOSviewer software.FindingsThis study found that based on the number of studies, the issue of client influence has received empirical attention, which is few and far between, with financial institutions identified as the major culprits in most of those studies. One core reason for this is the stakes involved in the finance sector, which relies on property valuation for loan disbursement and performance measurement. Furthermore, previous studies have focused on identifying the issue through the lens of the property valuer without giving recourse to the client's perspective on what may drive the issue.Research limitations/implicationsThis study provides evidence that the issue of client influence persists, with some elements of bias in the methodology. Furthermore, the solutions proffered have focused on the valuer and have not been tested to ascertain their effectiveness. Future studies can consider examining the issue from the perspective of financial institutions.Originality/valueThis study is one of the first review studies on client influence on property valuation. It is also the first to identify a pattern in client influence studies that points to the issue being perpetuated by financial institutions. Furthermore, it is the first in recent time to reveal how limited study has been conducted in the area as well as the solutions which have neither been tested nor implemented.","PeriodicalId":46102,"journal":{"name":"Property Management","volume":" ","pages":""},"PeriodicalIF":1.0,"publicationDate":"2023-04-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47884131","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}
PurposeGated communities continue to spread in popularity across cities around the world. Ghana has seen considerable growth in the development of gated communities over the last few years. This phenomenon manifests in the majority new residential developments and most forms of residential property advertisement in the capital city. The purpose of this paper is to explore the drivers of gated community developments in Ghana from the perspective of gated community developers.Design/methodology/approachThis paper used a qualitative research approach. Through face-to-face semi-structured interviews, data was collected from purposively selected key stakeholders in the gated community development market, including developers, managers and consultants.FindingsThe drivers identified from the developers' perspective were the demand for gated community properties, the control over and ease of management of assets and interests, the high development/production cost of real estate and speculative development of gated community properties.Originality/valueThis paper is an initial study that explores the drivers of gated community developments in Ghana from the perspective of gated community developers. This paper extends the literature on gated communities beyond the residents perspective.
{"title":"Drivers of gated community developments in Ghana: perspective of developers","authors":"Gideon Kwame Otchere, K. Mintah, J. Callanan","doi":"10.1108/pm-01-2022-0006","DOIUrl":"https://doi.org/10.1108/pm-01-2022-0006","url":null,"abstract":"PurposeGated communities continue to spread in popularity across cities around the world. Ghana has seen considerable growth in the development of gated communities over the last few years. This phenomenon manifests in the majority new residential developments and most forms of residential property advertisement in the capital city. The purpose of this paper is to explore the drivers of gated community developments in Ghana from the perspective of gated community developers.Design/methodology/approachThis paper used a qualitative research approach. Through face-to-face semi-structured interviews, data was collected from purposively selected key stakeholders in the gated community development market, including developers, managers and consultants.FindingsThe drivers identified from the developers' perspective were the demand for gated community properties, the control over and ease of management of assets and interests, the high development/production cost of real estate and speculative development of gated community properties.Originality/valueThis paper is an initial study that explores the drivers of gated community developments in Ghana from the perspective of gated community developers. This paper extends the literature on gated communities beyond the residents perspective.","PeriodicalId":46102,"journal":{"name":"Property Management","volume":" ","pages":""},"PeriodicalIF":1.0,"publicationDate":"2023-03-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41516120","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}
PurposeCommercial property development builds floor space in anticipation of potential, but unknown, future demand, making it particularly prone to risk and uncertainty. The research explores the degree to which property developer decision-making is objective and rational and the degree to which it relies on behavioural instincts and intuition. Decision-making theory, including heuristics, is considered and its prevalence in the field of commercial property development is examined.Design/methodology/approachA “dual-processing” decision-making model, comprising intuitive System 1 and objective System 2 processing, is proposed and tested. Inductive research using template analysis of interviews, with “high status” commercial property developers, explored whether the model offers an accurate representation of developers' behaviour and effective lens through which to examine decisions made under conditions of risk and uncertainty.FindingsParticipants believed they adopted objective and rational approaches to complex commercial property development decisions. Analysis of interviews reveals that System 1 heuristics and intuition play significant roles in decision-making behaviour, leading to potential bias and systematic error. The research concludes that the dual-processing model provides a useful lens through which to better understand the decision-making approach adopted by commercial property developers.Originality/valueThe research represents the rare application of behavioural theory to the realm of commercial property development and provides new and original insight as to how important investment decisions are made under conditions of risk and uncertainty, with implications for professional practice.
{"title":"Exploring the use of dual-processing in commercial property development decision-making under conditions of risk and uncertainty","authors":"Simon Robson, P. Greenhalgh","doi":"10.1108/pm-11-2022-0084","DOIUrl":"https://doi.org/10.1108/pm-11-2022-0084","url":null,"abstract":"PurposeCommercial property development builds floor space in anticipation of potential, but unknown, future demand, making it particularly prone to risk and uncertainty. The research explores the degree to which property developer decision-making is objective and rational and the degree to which it relies on behavioural instincts and intuition. Decision-making theory, including heuristics, is considered and its prevalence in the field of commercial property development is examined.Design/methodology/approachA “dual-processing” decision-making model, comprising intuitive System 1 and objective System 2 processing, is proposed and tested. Inductive research using template analysis of interviews, with “high status” commercial property developers, explored whether the model offers an accurate representation of developers' behaviour and effective lens through which to examine decisions made under conditions of risk and uncertainty.FindingsParticipants believed they adopted objective and rational approaches to complex commercial property development decisions. Analysis of interviews reveals that System 1 heuristics and intuition play significant roles in decision-making behaviour, leading to potential bias and systematic error. The research concludes that the dual-processing model provides a useful lens through which to better understand the decision-making approach adopted by commercial property developers.Originality/valueThe research represents the rare application of behavioural theory to the realm of commercial property development and provides new and original insight as to how important investment decisions are made under conditions of risk and uncertainty, with implications for professional practice.","PeriodicalId":46102,"journal":{"name":"Property Management","volume":" ","pages":""},"PeriodicalIF":1.0,"publicationDate":"2023-03-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43552961","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}
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