Global Real Estate Market Research Articles

Real Estate Market Transformations Amidst Post-Pandemic Sino-U.S. Economic Trends

In the post-pandemic era, the global economic landscape has undergone profound changes. As the world’s largest economies, the economic policies and market performances of the United States and China have exerted far-reaching impacts on the global real estate market. This paper delves into the current state and future trajectory of the real estate market under Sino-U.S. economic trends, focusing on commercial real estate, residential investment, property taxes, financing, and laws and regulations. It also incorporates keywords such as easements, deed transfers, premium discount rates, home mortgages, police powers, liens, common law, fixtures, joint leases, marital property, private property, and trespassing to provide a comprehensive analysis.

Comparative Analysis of the Impact of Advanced Information Technologies on the International Real Estate Market

This study examines the impact of advanced information technologies, such as big data, the Internet of Things (IoT), and artificial intelligence (AI), on the global real estate market. Through comparative analysis of real estate markets in North America, Europe, and Asia, and specific case studies from the US, UK, and China, we quantified the effectiveness of these technologies from 2018 to 2023. Our findings show that big data analytics improved market forecasting accuracy by 15.2%, IoT in smart buildings reduced energy consumption by 10.3% and enhanced security by 17.5%, and AI in property management increased operational efficiency by 17.6% and reduced maintenance costs by 13.2%. North America showed the highest technology acceptance, with a 20%-30% improvement in market efficiency, followed by Europe at 15%-25%, and Asia at 10%-20%. The successful application of these technologies depends on policy environment, market acceptance, and enterprise management. This research offers valuable insights and quantitative evidence for policymakers, industry practitioners, and researchers, highlighting the need for future studies on the integrated effects and long-term impacts of technology convergence.

ІНСТРУМЕНТАРІЙ СТРАТЕГІЧНОГО УПРАВЛІННЯ ДІЯЛЬНІСТЮ СУБ’ЄКТІВ РИНКУ НЕРУХОМОСТІ

In the ever-evolving world of property management, technology has become indispensable for streamlining operations, increasing efficiency and improving decision-making processes. As the industry becomes increasingly complex and competitive, real estate professionals rely on a variety of strategic tools and software solutions to manage real estate, analyze market trends, communicate with stakeholders, and streamline administrative tasks. The article defines trends in the modern real estate market. The essence of strategic management, its importance for long-term stable activity is defined. The essence of strategic management in the field of real estate is specified, taking into account the characteristics of the market object – buildings, structures, land and infrastructure. Growth forecasts of the global real estate market have been determined. Strategic management tools are defined: strategic analysis, strategic planning, organization of strategy selection and implementation, and strategic control. Each of them is considered in more detail. The need for a strategic analysis of the real estate market, as well as the main strategies by which this process can be carried out, is determined. The theoretical information has been transferred to the practical plane. The value of diversification, building a network of connections and adaptation through constant updating of knowledge is established. New paradigms in the field of real estate using new technologies have been identified. Features grouped together that offer leading solutions in this space. The statistics of technological indebtedness of enterprises on the real estate market have been determined. The areas of optimization of strategic management of lease operations are analyzed. Prospects for improving the tools of strategic management of the activities of real estate market entities were studied: expanded work and communication opportunities, the emergence of flexible detailed report customization options, predictive analytics based on AI, report templates with flexible settings, real-time data visualization, etc.

Comparative Analysis of Reits Development in China and the USA

This academic paper provides a comprehensive comparative analysis of the development of Real Estate Investment Trusts (REITs) in China and the United States. REITs have gained significant prominence as investment vehicles in the global real estate market, offering individuals and institutions the opportunity to access diversified real estate assets. The objective of this study is to investigate the historical background, legal frameworks, market characteristics, and performance indicators of REITs in China and the United States, with a focus on identifying similarities, differences, challenges, and potential opportunities for their development in each country. By examining these key aspects, this research aims to enhance the understanding of policymakers, investors, and researchers regarding the distinct dynamics and prospects of REITs in these two major economies. The findings of this analysis provide valuable insights for stakeholders interested in capitalizing on the potential of REITs as a viable investment option in China and the United States.

Анализ глобальных стратегических трендов, влияющих на региональный рынок недвижимости России

The article introduces a comprehensive strategic analysis of global trends that affect the development of the regional housing market in Russia. The list of trends included globalization, urbanization, world population growth, expansion of global real estate market, and preventive development of strategic scenarios to counteract the current emergency in the real estate market. Anti-emergency scenarios for regional markets should take into account these global trends. For a regional real estate market, an emergency period is a period of cyclical growth in real estate prices, characterized by excess investment caused by long-term speculative expectations of investors. The study relied on the theory of strategy and the methodology of strategizing developed by Professor V.L. Kvint, Dr.Sc.(Econ.), Foreign Member of the Russian Academy of Sciences. The author used the method of decomposition to divide the emergency period into stages: the time occupied by each stage depended on the abovementioned global trends via supply and demand factors. The demand factor referred to the regional population whereas the supply factor was associated with the construction sector. Therefore, global strategic trends cannot be overlooked by regional strategists who develop plans to counteract the current emergency scenarios.

From flatmates to realestate? Platform capitalism and the transformation of share housing

The rise of platform capitalism has been instrumental in facilitating capital accumulation at scale through the commodification of previously untradable services and spaces. Digital real estate technology-based platforms or ‘PropTech’ (Property Technology) have transformed how housing is produced, traded, and managed, augmenting existing and creating new housing markets in ways that are still evolving. While ‘home-sharing’ platform Airbnb has become synonymous with ‘peers’ offering residential accommodation online, more traditional forms of house sharing between ‘flat mates’ have also been digitised by global platforms. In this paper we trace the evolution of Australian share housing platform ‘Flatmates.com.au’ from the online equivalent of a campus noticeboard advertising share houses to a sophisticated real estate platform owned by global, PropTech giant Real Estate Advertising ‘REA Group’. In doing so we examine how ‘platform logic’ i.e., converting user-inputted data to information to asset; exponential growth through network expansion and connectivity – has integrated the social practices and relationships defining share households within the global real estate market. The paper contributes to critical literature on the inter-relationships between platform capitalism and housing, focusing specifically on the share housing sector in Australian cities.

The Impact of COVID-19 on the Real Estate Market Based on Case and Data Analysis

In the previous two years, COVID-19 has been one of the pressing social issues, and empirical studies have shown that COVID-19 has a significant impact on the growth of the economy. However, more research and an analysis of the effects of COVID-19 on the global real estate market may be required. In order to better explore the effects of COVID-19 on the real estate market and the changes it has brought about, this study analyzes the real estate markets in China, the United States, and Europe together with pertinent real estate market statistics. According to the analysis, COVID-19 has caused a reduction in some office real estate deals, a rise in the market for luxury homes, a shift in consumer preferences from renting to buying. In addition, a significant uptick in the adoption of cutting-edge digital technologies by service providers. Therefore, it is advised that the real estate market performs sound market research, records changes in consumer demand, and promptly modifies its business plans. These results shed light on guiding further exploration of the impact of COVID-19 on the real estate market in the study area and the resulting changes.

POTENTIAL OPPORTUNITIES OF BLOCKCHAIN TECHNOLOGY IN STREAMLINING THE MALAYSIAN COMMERCIAL OFFICE BUILDING OPERATION MANAGEMENT PROCESS

Managing commercial real estate is extremely complex and cumbersome and involves many stakeholders who provide access to and modify a variety of information. This led to some common issues with traditional commercial real estate management such as lack of transparency, third-party interference, the complexity of the agreements, record keeping and security, and absence of real-time data. Accordingly, blockchain technology is anticipated to address the issues of data openness, trustworthiness, and correctness in the global real estate market. This research aims to discover the potential opportunities that blockchain could offer in streamlining the commercial office building operation management process. A conceptual framework of blockchain-based technology adoption in the current Malaysian commercial office building operation management process was developed based on the literature review and focus group discussion (FGD). The framework was underpinned by four core operation management that emerge from the research findings including financial, administrative, technical, and promotional management.

Smart ‘Tourist Cities’ Revisited: Culture-Led Urban Sustainability and the Global Real Estate Market

Smart tourism destinations have received increasing attention during the last few years. Digital technologies have reshaped the smart city paradigm in terms of both resilience and sustainability, capitalizing cities’ cultural and historical components while providing unique potential for growth in the real estate industry. Real estate, in particular, is considered a main asset to the tourist experience, whether it is in the form of hospitality accommodation facilities, urban landscapes, or cultural heritage hotspots. In addition, the effect of cultural sites and overall destination attractiveness on real estate dynamics (land/housing prices and building activity) is well established. Thus, uncovering how enhanced technological throughputs and synergies, culture-led urban sustainability initiatives and the real estate dimension are directly (or indirectly) associated could support cities to better delineate policies for their promotion as international, sustainable, and resilient tourist destinations. With this perspective, the present study focused on four particular cities’ successful smart initiatives, namely Amsterdam, Barcelona, Seoul, and Stockholm, in an attempt to identify how developers and local authorities will need to transform in order to offer better services to residents and visitors. This work reveals that smart projects alone cannot secure the transition of existing (European) cities into smart and sustainable tourism destinations. In addition, this study also contributes to public policy by demonstrating how challenging it is to be smart without the support and involvement of the local community, highlighting the significance of public awareness. The empirical findings suggest that local authorities are of critical importance when shaping a well-structured and practically effective strategy for the integration of sustainable and technologically advanced smart features. Results are promising, and final reflections provide insights for tourism destinations policymakers, city authorities, and real estate professionals.

No place for trust—the significance of trust in housing development

ABSTRACT Trust has become a popular term in current political and social debates, but it usually remains a vague concept. This paper aims to introduce trust as a sociospatial concept for the study of urban developments. More precisely, trust is used to analyze the housing markets of two U.S. cities, Washington, D.C. and New Orleans, both of which are shaped by the forces of a global real estate market, rendering housing unaffordable for many local residents. Trust serves as a lens through which we can examine the tensions in the housing market and the struggles of local residents. We argue that these tensions sever urban trust relations by undermining the home as an essential building block for trust. Securing access to adequatehousing is thus regarded as a first step toward building urban trust networks, enabling residents to partake in urban life and make use of their right to the city.

SIGNIFICANCE AND PERFORMANCE OF PROPERTY MARKETS IN MALAYSIA

The importance of the global real estate market has been widely debated over the last decade. Prior discussion has focused on various aspects of analysis used to evaluate the performance of the property market, such as statistical analysis, surveys, academic or industrial literature. As a result, it is also necessary to examine the global and Asian property markets while also evaluating the significance and performance of the Malaysian property market in comparison to other Asian markets to determine Malaysia's international contribution to the global property market. The performance of Malaysia's property market from 2015 to 2018 was examined in this study. Data was gathered using Thomson Router Data Stream from Real Capital Analytic, Asia Pacific Real Estate Association (APREA), World Economic Forum, and Transparency International, among others. The study's findings will extend knowledge not only of the performance and significance of the Malaysian property market, but also of GDP growth, inflation rate, market ranking global, competitiveness business environment index, corruption perception, and risk and transparency index in Malaysia and across Asian countries. The overall results indicate that the performance and signs of the Malaysian real estate market were better compared to other Asian and developing markets.

Suspect foundations: Developing an understanding of climate-related stranded assets in the global real estate sector

The aim of this article is to introduce for the first time the topic of 'stranded assets' into research involving the built environment. It focuses on the idea that climate change policy could induce the stranding of some conventional property assets in the global real estate market. Principally, the empirical focus for study is the UK interaction with energy performance certificates and minimum energy performance standards. However, comparisons are made internationally, and key distinctions are made between developed and less developed countries. The article observes that stranded assets are not new in real estate; the changing consumer demand of occupiers has regularly rendered property assets redundant or obsolete. However, what is new is the influence of climate change and associated environmental policy on some property assets. The article deliberately combines conceptual agendas often studied in isolation. Theories of path dependence and lock-in are used to understand the problematic traction of climate change legislation within traditional real estate institutions. The implications of this situation, the potentially hidden systemic socio-economic reach of stranded assets, is then considered through the lens of contemporary debates of financialisation. Socio-technical system theory, as it relates to contemporary energy policy regimes, is then examined to connect persistent lock-in with financialised global investment markets. The article then posits how associated legislation could be used to capture a global picture of stranded assets in real estate. Revealing the stranded asset exposure should be a concern to real estate investors and those charged with managing such assets. However, more optimistically this potential risk may provide the catalyst for energy efficient transition in the built environment. The article concludes by outlining an interdisciplinary research agenda for stranded assets in global real estate.

International Real Estate Review

This study examines the tail dependence of returns in international public real estate markets. By using the daily returns of real estate securities in seven cities/countries from 2000 to 2018, we analyze how the interdependence of international securitized real estate markets has changed since the Global Financial Crisis. We divide our sampling period into the pre-crisis, crisis, and post-crisis periods, and estimate both upper and lower tail dependence coefficients for each sub- period. Our empirical results confirm that most city/country pairs have changed from tail-independent to tail-dependent since 2007. Strong tail dependence persists during the crisis and post-crisis periods. The findings from the post-crisis sub-sample provide new evidence on increased tail dependence in the global real estate market in recent years. We conclude that international real estate securities still offer diversification benefits nowadays but to a lesser extent than in the pre-crisis period. Investing in the global real estate securities markets is beneficial for cross-region, mixed-asset portfolios.

Increased Tail Dependence in Global Public Real Estate Markets

This study examines the tail dependence of returns in international public real estate markets. By using daily returns of real estate securities in seven countries from 2000 to 2014, we analyze how the interdependence of international securitized real estate markets has changed since the Global Financial Crisis. We divide our sampling period into pre-, during, and post-crisis periods, and estimate both upper and lower tail dependence coefficients for each sub-period. Our empirical results confirm that most country pairs have changed from tail-independent to tail-dependent since 2007. Strong tail dependence persists throughout during crisis and post-crisis periods. The findings from the post-crisis sub-sample provide new evidences on increased tail dependence in global real estate market in recent years. We conclude that international real estate securities still offer diversification benefits nowadays but to a lesser extent than in the pre-crisis period. Investing in global real estate securities markets is beneficial for cross-region, mixed-asset portfolios.

Transmission of shocks across global real estate and equity markets: An examination of the 2007–2008 housing crisis

ABSTRACTThis study analyses the impact of the 2007–2008 U.S. financial crisis on the structure of interdependence among several major global real estate and equity markets. Moreover, it performs a step-by-step comparative analysis to evaluate similarities and differences in the convergence patterns of global real estate markets vis-à-vis global equity markets. Long-run results indicate that global real estate markets were less integrated than global equity markets prior to the crisis. Since the crisis, however, both global real estate and global equity markets have become highly integrated with the U.S. real estate and equity markets, respectively, and have fully converged. Short-run analyses indicate that during the pre-crisis period, global real estate markets were highly exogenous and independent. In contrast, global equity markets were comparatively more interdependent with one another and more endogenous. After the crisis, however, both global real estate and equity markets reacted strongly to shocks emanating from the U.S. markets, although the impact of the U.S. real estate market on the global real estate market is more pronounced than the effect of the U.S. equity market on the global equity markets. Finally, the study shows that U.S. real estate and equity markets are the channels of transmission or the sources of trends that drive global markets over the long-run and the short-run.

Revisiting currency swaps: hedging real estate investments in global city markets

PurposeThe purpose of this paper is to re-examine currency swaps as an effective hedging technique for individual asset performance in today’s global real estate market, by considering hypothetical prime office investments across six different cities and five currency pairs. The perspective of a risk-averse, high net worth, non-institutional, smaller-scale Swiss investor is paired with investors from five additional national markets.Design/methodology/approachThe study examines currency swaps in key office markets across three continents (Frankfurt, London, New York, Sydney, Warsaw and Zurich) and extends previous work on the topic by adopting both Monte Carlo (MC) and Latin Hypercube (LH) techniques to create stochastic samples for individual asset performance analyses. This is the first paper to apply LH sampling to currency swaps with underlying real estate assets, and the validity of this method is compared with that of MC. Four models are presented: the experience of the domestic investor (no exchange rate (ER) fluctuations); an unhedged direct foreign investment; hedging rental income and initial purchase price via a currency swap; and hedging rental income and anticipated terminal value.FindingsThe efficacy of a swap depends on the historical framework of the ERs. If the foreign currency depreciates against the domestic one, hedging the repatriated cash flow of a property investment proved superior to the unhedged strategy (EUR, GBP, PLN and USD to the CHF). An investor would benefit from exposure to an appreciating foreign currency (CHF to the EUR, GBP, PLN and USD), with an unhedged strategy clearly outperforming the currency swap as well as the domestic investor’s performance, while a historically sideways fluctuating ER (AUD to the CHF) also favours an unhedged approach. In all scenarios, unexpected economic or market shocks could cause negative consequences on the repatriated proceeds.Practical implicationsThis research is of interest to small-scale, non-institutional investors aiming to develop strategies for currency risk mitigation in international investments for individual assets; however, tax-optimising strategies and the implications on a larger portfolio have not been taken into account.Originality/valueThere is no recent academic work on the efficacy of currency swaps in today’s global office market, nor has the position of smaller-scale high net worth investors received much academic attention. This research revisits the discussion on their validity, providing contemporary insight into the performance of six markets using LH as an alternative and original sampling technique.

Real Estate Investment as a Panacea for Economic Instability in Nigeria: Evidence from Northeastern States of Nigeria

Real estate investment is an emerging business in many countries of the world. Real estate investment was thoroughly investigated to come up with solution faced by the transaction of land and building. Real estate investment is strictly related to the housing price. It has been pointed out by many researchers that the housing price is affected by many factors, such as interest rate, land supply, government policies and inflation rate. The research highlighted most important aspects of the outcomes. An increase in international real estate capital flows could foster increasing demand for stronger institutions across a global real estate market. The method adopted in this research was quantitative through which 100 questionnaires were developed and distributed within the study area (Bauchi, Gombe, Adamawa and Yobe States). The simple percentage was used to analyzed the data collected. The research is exploratory in nature; hence, a non-probability purposive sampling technique was used for the study. The finding of the research vindicated that real estate investment has a significant role in sharpening the economy of the region, and also the findings revealed that real estate investment opportunity is huge. And again for suggested that housing provision cannot be realized only by private individual excerpts through government intervention. The study concludes that real estate investment, if explore it will create a reliable return to the investment owners, the benefits that can be derived from real estate investment, has been revealed by this study. The study also highlighted that private developers are key important for real estate investment in Nigeria. The conclusion drawn by this research shows that real estate investment has a capacity of transforming economic hardship in the country.

Level of Foreign Direct Investments and Transparency of Polish and Global Real Estate Market

Abstract The article aimed to present the dependencies between the transparency of the real estate market and the level of foreign investments realized on it. For developers on the real estate market, a key element, other than potential profits, may be the market’s transparency. The main feature of a transparent real estate market is easy access to credible data concerning supply and demand, rent, property prices, transactions, vacant houses and capitalization rates that could be the basis for analysis. Market transparency does not guarantee the success of an investment, but considerably influences investment decisions and the level of risk connected with them.

Point of View: An Institutional View of Global Real Estate Markets

This report represents Prudential Real Estate Investors' study on the size of the global institutional-grade commercial real estate (CRE) market. We estimate the value of CRE markets, not only at the present time but over the next 10-year and 20-year periods. Our analysis is done by country, but we also sort the data into regions and blocs of developed and developing countries. The goal is to understand the relative size of markets and where growth is likely to come from in the future. We also group the countries into risk blocs based on region and developed/developing status as defined by the World Bank. The United States/Canada is developed, while all countries in Latin America and the Gulf Cooperation Council (GCC) are developing. Developed Europe encompasses Austria, Belgium, Denmark, Finland, France, Germany, Greece, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, and the United Kingdom, while the rest of Europe is developing. Developed Asia-Pacific encompasses Australia, Hong Kong, Japan, South Korea, New Zealand, Singapore, and Taiwan, while all other Asia-Pacific nations are developing.

A GIS based system for minimizing acquisition risk in Real Estate property market

Many economists have identified the main cause of recent global real estate market crisis both in the poor diffusion of systems capable of monitoring the historical property values that in the lack of public awareness about the risks of real estate investments. This paper proposes a new approach to evaluate property acquisition’s risk that does not rely on a standardize appraisal indices analysis. The proposed Geographical Information System is able to investigate the historical variation of the main real estate market indicators and to let the final user appraise the general level of real estate investment risk. The subsequent sections of this paper will discuss about the real strength of the most common literature’s algorithms used to appraise risk in real estate, then it will be explained how inexpensive information technology applications can help to increase the diffusion of awareness related to real estate market conditions. Finally it will be discussed the case of study; conclusions and some considerations about future improvements will close the study.