Abstract
Aspects of sustainable construction investment and real estate development (CIRED) and their interrelations during the period pre-, intra-, and post-COVID-19, are presented in the research. Applications of the topic model, environmental psychology theory, building life cycle method, and certain elements of bibliometrics, webometrics, article level metrics, altmetrics, and scientometrics make it possible to perform a quantitative analysis on CIRED. The CIRED topic model was developed in seven steps. This paper aims to present a literature review on CIRED throughout the pandemic and to look at the responses from the real estate and construction sector. This sector is a field that appears to be rapidly expanding, judging from the volume of current research papers. This review focuses on last year’s leading peer-reviewed journals. A combination of various keywords was applied for the review and the criteria for paper selections included construction investment, real estate development, civil engineering, COVID-19, and sustainability, as well as residential, industrial, commercial, land, and special purpose real estate, along with their risks, strategies, and trends. The articles reviewed for this paper, which analyzes three hypotheses, look at pre-, intra-, and post-pandemic CIRED. The three hypotheses were validated by analyzing scientific publications from around the world. Two innovative elements make this study stand out among the most advanced research on pre-, intra-, and post-pandemic CIRED. The first of the two innovations is the integrated analysis of the COVID-19 pandemic, COVID-19-related national policies, and business investment strategies relevant to CIRED and the interests of investors as well as on the impact a CIRED policy and investors make on the spread of COVID-19. In addition, this research demonstrates a marked increase in the effectiveness of a CIRED analysis, when the life cycle of a CIRED, the involved stakeholders with their own individual interests, the COVID-19 situation, and the external micro-, meso-, and macro-environments are covered comprehensively as a single entity.
Highlights
The results reveal that in communities with confirmed COVID-19 cases, there is a 2.47% fall in accommodation price, and the negative effect can continue for three months, with the scope of the effect increasing with time
The effects from the pandemic hit the field of construction investment strategies in addition to many other economic sectors
The analysis presented in this review is related to three hypotheses: the papers take an explicit viewpoint on pre, intra, and post-pandemic sustainable construction investment and real estate development (CIRED)
Summary
Another study conducted by McAuley and Behan [2] showed that consumption of minerals taken from natural resources by the construction industry reaches as high as 50%. Such consumption produces around 33% of atmospheric CO2 , which accounts for 40% of all energy coming from construction as well as from building operations globally. Petri et al [3] report that the building sector of the EU accounts for over 40% of the energy and CO2 emissions throughout Europe. Leading in total global energy consumption is the building sector at around 30–40% of the total, according to Garshasbi and Santamouris [4]
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