Housing Demand Research Articles

부동산 규제정책은 가격안정화에 성공하였는가?

The purpose of this study is to empirically analyze the impact of real estate policies such as excess housing demand, financial regulations, and transaction restriction regulations on housing prices. Three policy indices were developed as variables to measure demand-side real estate policies, and empirical analysis was conducted using them as major explanatory variables. The financial regulation policy index (FRPI) was established by investigating financial regulations such as LTV, DTI, and DSR, and the transaction restriction policy index (TRPI) was organized in a time series by examining the details of transaction restrictions such as overheated speculation zones and speculative areas. In addition, the excess demand for housing, defined as the difference between the supply and demand of the real estate market, was estimated by monthly. The result of empirical showed that the effect of stabilizing housing prices of the FRPI and the TRPI was limited. On the other hand, excess housing demand was positively related to housing prices, and the increase in excess housing demand since the mid-2010s turned out to be a main background of the rise in housing prices.

Decolonizing South Asian architecture: Sustainable and community-criented cocial housing in India

Decolonization process in India involved a range of political, economic, and social changes aimed at dismantling the colonial system and building a new, independent nation. One of the most significant challenges India faced during the decolonization process was the issue of partition. The partition of India in 1947 led to the creation of two separate countries—India and Pakistan—and resulted in widespread violence and displacement. Millions of people were forced to migrate across the newly formed borders, resulting in one of the largest mass migrations in human history which created huge demand for housing. The methodology adopted for this research is based on qualitative analysis and the data source for this study are government reports, research articles, books and newspaper. Further, it examines four case studies of social housing projects designed to provide sustainable and livable solutions for low-income families in different regions of India, including Aranya Community Housing, Incremental Housing in Belapur, ATIRA Staff Housing in Ahmadabad, and CIDCO Housing in Parsik Hill in Navi Mumbai. At the core of the article lies an investigation into the dynamic nature of architecture in the aftermath of independence, coupled with a detailed examination of four distinct social housing ventures. The social housing studies demonstrate innovative and flexible approaches to social housing, with a focus on community building, energy efficiency, and social amenities. The projects have been successful in providing access to affordable and sustainable housing for low-income families in different regions of India. The case studies highlight the importance of a community-centered approach to social housing, emphasizing the need for shared spaces and amenities. The article discusses the challenges and opportunities of implementing sustainable and livable social housing solutions in India.

건물분양주택의 발전방안에 관한 연구

This study studied the plan for expanding and supplying pre-sale housing through the analysis of advanced cases. The analysis results are as follows. First, providing publicity and marketability at an affordable pre-sale price and land rental for residential stability is essential. A plan to appropriately recover the market profit is needed. Second, the continuity of supply requires a continuous supply of land in the housing demand area and continuous supply to the vulnerable housing class. Third, it is necessary to set a reasonable pre-sale price considering high-quality materials during initial supply. Fourth, it is necessary to break away from the LH repurchase method, recognize some capital gains, calculate realistic rent, and extend the lease period. As for policy implications, it is necessary to clarify the policy goals of building pre-sale housing, long-term plans for securing public land, and practical support measures to enable social and economic actors to participate in the supply of Building pre-sale housing.

Incrementalism, housing supply and city-making from below: learning from Khulna, Bangladesh

Incrementalism is a mode of self-help and continuing practice that is prevalent primarily in the Global South. It enables owner-builders to meet housing needs typically over an extended period of time as they can more conveniently manage the required resources. While (informal) tenure, materiality, and housing conditions have long been the focus of incremental housing scholarship, researchers are increasingly recognising the value of incrementalism’s metabolic interplay with broader urban processes. This paper complements these later works by qualitatively examining four dominant incremental housing pathways in the urban fringes of Khulna, Bangladesh: absentee landholding, makeshift sheltering, speculative land disposal and informal brokerage. Empirical evidence suggests that a variety of actors, primarily motivated by land speculation, participate in these incremental housing pathways. While the implementation of the official plan for Khulna’s peri-urban areas is delayed, I argue that these actors coproduce a complex housing market as well as a self-help city in which urban institutions play more passive and reactionary roles. The findings contribute to rethinking the self-organising logic of urban expansion in many Southern cities, which is often centred on urban land at the crossroads of institutional capacity deficit, speculative housing demand and supply, and informal-formal hybridity.

주택은 인플레이션을 헷지 할 수 있는가?

This paper examines the inflation hedging capacity of Korea’s housing return from January 1987 to December 2022. The exponential generalized autoregressive conditiuonal heteroskedasticity(EGARCH) model and a dynamic ordinary least squares (DOLS) regression were employed to study the hedging capacity of Korea’s housing return against expected and unexpected inflation over the short run and long run. The results that could be obtained through this paper is as follows. First, The empirical results show a hedge effect on expected inflation only in housing return excluding gold over the short term, but not in unexpected inflation. Second, Over the long run, housing and gold returns provide a positive inflation hedge against expected inflation only. Third, it is found that the price volatility of housing and gold have both a positive asymmetric effect on news shocks. Over the long run, an increase in wages is found to increase housing prices by promoting housing demand, While no similar evidence is found in money supply.Therefore, there is a need to implement a stable wage policy to stabilize the housing market.

Economic study of development prospects and challenges of real estate business

Indian real estate business is one of the largest sectors in our country after agriculture and primary sector. These sectors contribute about 6 percent to 7.5 percent and are a major source of jobs for the unorganized sector of the Indian labor market. The sector was one of the main beneficiaries of the post-liberalisation period, where India became one of the hot FDI assets, with a lot of new enterprises opening up day by day and a rapid rise in the salaries of the Indian middle class. Hui. It shows a huge growth since 1990s and Indian metro cities like Chennai Mumbai Delhi Kolkata feel the boom in realty sector. Real estate sector in India is growing at the rate of around 20 percent per annum and this sector is contributing around 6-7 percent to India's GDP but it is not able to balance the supply demand constant. The demand for housing has been increasing rapidly over the past decade. In spite of government efforts and efforts through various schemes, it has not been able to cope up with the increasing demands. Taking advantage of the situation, private businessmen usurped control of the real estate sector with almost no concern for consumer demand. Over the past decade, the sector feels a slowdown due to various factors which include business constraints, frequent changes by the government in regulatory policies, and economic slowdown. In our paper we study the present trend and pattern of various factors of real estate sectors and do critical analysis. In this paper we outline the issue and details of the actual obstruction. But also present some corrective steps which should benefit the sector and try to take it back to its glorious past where it was growing very fast.

THE ELDERLY QUALITY OF LIFE (E-QoL) AND RETIREMENT VILLAGE PREFERRED FEATURES BY MALAYSIAN GENERATIONS

Along with the continuous growth of the elderly population, Malaysia projected to become an ageing nation by 2030. The Retirement Villages are a Restricted Ageing Community that offers a complete range of services supplying the diverse housing demand of the elderly (seniors) generation. The World Health Organization (WHO) identified four broad domains universally relevant to the Quality of Life: physical and psychological health, social relationships, and environment. This study aims to provide an in-depth overview of the Retirement Villages in Malaysia. The objectives of this study are sets as follows: (i) To define the Elderly Quality of Life (QoL), and (ii) To determine the generational preferences features of Retirement Village in Malaysia. The Malaysian housing generations involved in this study are the Baby Boomers, Generation X (Gen-X), Generation Y (Gen-Y), and Generation Z (Gen-Z). With a mixed-methods approach, the derived findings revealed that preferred generational features of Retirement Villages are diverse for each main feature; (i) Location; (ii) Services; (iii) Design Criteria; (iv) Physical Environment; and (v) Social Activities. This study contributes more understanding of the main actors of property development and the real estate industry players on the preferred features for Retirement Villages in the Malaysian context.

EXPLORING THE POTENTIAL OF VERTICAL LIVING FOR SUSTAINABLE URBANIZATION IN LAHORE, PAKISTAN

This study aimed to examine the potential of vertical living for sustainable urbanization in Lahore, Pakistan. Through a cross-sectional survey of 400 residents using a structured questionnaire with Likert scale items and demographic questions, valuable insights are gathered from the city's diverse population, particularly those in congested areas experiencing urbanization implications. The demographic data reveals a balanced representation of gender, age, marital status, and education among the respondents. The findings highlight the positive perception of vertical living in addressing the increasing demand for housing in Lahore, with 60% of respondents agreeing it can meet this need. Additionally, 70% of respondents believe vertical living can promote efficient land use and reduce urban sprawl, while 83% see it as a means to conserve green spaces and protect natural habitats. Furthermore, 76% agree that vertical living can contribute to a more sustainable and balanced urban development in Lahore. Moreover, 64% of respondents find vertical living as a solution for affordable housing options and 69% believe it can improve transportation efficiency by reducing the need for long commutes. The study concludes that a significant portion of respondents have a positive view of vertical living's potential benefits in Lahore. However, it also reveals concerns and neutral views, indicating the necessity for further research and increased awareness to better understand the concept of vertical living and its relevance in the context of Lahore's urban development. This research can assist in making informed decisions about sustainable urban planning and housing initiatives in Lahore and potentially in other similar urban settings. Keywords: Natural Environment, Recreation, Public Park, Social Cohesion, Resilience, Hyderabad.

El desajuste entre la oferta y la demanda de vivienda, y su relación con los precios

Rationale Analysis of recent housing supply and demand trends, and of the factors contributing to them, is extremely useful to detect the emergence or existence of imbalances in the housing market, which is characterised by long lead times for house building. Takeaways •After the initial impact of the pandemic, the recovery in demand for owner-occupied housing nationwide has outpaced the recovery in supply, which is less flexible in the short term. This has led to a certain mismatch between supply and demand and to upward pressures on house prices. •In recent years, there has also been a widespread supply shortage at the regional level. The prices of owner-occupied housing have risen more in regions where housing has been in relatively shorter supply. •Although the cost of credit has risen, house prices will foreseeably continue to show greater downward stickiness, in nominal terms, than residential housing market variables such as house sales or building permits, owing to the dearth of new construction work, the high costs of building materials and the favourable financial situation of the different housing market agents.

Preferences for rental housing in urban Ghana: A discrete choice experiment

With the rising demand for housing across the globe, rental housing has become a major alternative in meeting deficit supply. However, there is a significant gap between what is supplied, vis-à-vis what consumers prefer. Using a discrete choice experimental approach, we examined the most significant factors that influence housing renters' preferences in Koforidua, an urban context in Ghana. The results of the study showed that location outskirts, rent payment modality of two years' advance, electricity availability in the housing unit, good access road, and monthly rent payable had a significant influence on renters' preference. The study further established statistically significant levels of variation in preference across age, gender, vehicle ownership, and employment status of renters. We recommended among others, that access routes within built-up areas be improved since renters’ preference for housing units located within the city was higher. The promotion and adoption of alternative sources of energy among rental households rather than over-reliance on the existing grid electricity supply and improvement in neighbourhood roads among others were further recommended, with implications for sustainable rental housing provision.

Population modeling and housing demand prediction for the Saudi 2030 Vision: a case study of Riyadh City

Purpose The Saudi 2030 Housing Program Vision aims to increase the population of Riyadh City, the capital of the Kingdom of Saudi Arabia, to between 15 and 20 million people. This paper aims to predict the demand for residential units in Riyadh City by 2030 in line with this vision. Design/methodology/approach This paper adopts a statistical modeling approach to estimate the residential demands for Riyadh City. Several population growth models, including the nonlinear quadratic polynomial spline regression model, the sigmoidal logistic power model and the exponential model, are tested and applied to Riyadh to estimate the expected population in 2030. The growth model closest to the Kingdom’s goal of reaching between 15 and 20 million people in 2030 is selected, and the paper predicts the required number of residential units for the population obtained from the selected model. Desktop database research is conducted to obtain the data required for the modeling and analytical stage. Findings The exponential model predicts a population of 16,476,470 in Riyadh City by 2030, and as a result, 2,636,235 household units are needed. This number of housing units required in Riyadh City exceeds the available residential units by almost 1,370,000, representing 108% of the available residential units in Riyadh in 2020. Originality/value This study provides valuable insights into the demand for residential units in Riyadh City by 2030 in line with the Saudi 2030 Housing Program Vision, filling the gap in prior research. The findings suggest that significant efforts are required to meet the housing demand in Riyadh City by 2030, and policymakers and stakeholders need to take appropriate measures to address this issue.

Data-driven analysis of soil consolidation with prefabricated vertical drains considering stratigraphic variation

In coastal cities such as Hong Kong, rapid reclamation using prefabricated vertical drains (PVDs) is preferred as it can accelerate land supply to meet the urgent demand for houses. A robust PVD design relies on the correct identification of permeable soil layers and accurate delineation of their stratigraphic connectivity with surrounding drainage boundaries. The current engineering practice often ignores the physical locations of minor drainage boundaries (e.g., sand lenses) in the subsurface stratigraphy and might lead to a false interpretation of potential drainage and consolidation mechanisms. In this study, a data-driven analysis framework that takes stratigraphic uncertainty into consideration is proposed to investigate the spatiotemporal consolidation of PVD-improved ground using sparse site investigation data often encountered in engineering practice. The method adaptively develops multiple geological cross-sections from limited measurements and prior knowledge that is reflected by a single training image. The resulting multiple geological realizations serve as the input for PVD analysis. The proposed data-driven framework allows for a probabilistic evaluation of soil spatiotemporal behavior in terms of the degree of consolidation and future ground settlement. More importantly, the proposed method accurately predicts the spatial distribution of stratigraphic boundaries with quantified uncertainty, which significantly influences the consolidation mechanism.

Advancing Technical Performance in Smart-EcovBuildings Aim to Energy Efficiency: A Comprehensive Analysis for Sustainable Building

Contemporary societies are experiencing transformative changes across various industries, including construction. The surge in energy consumption, driven by factors such as population growth, industrialization, urban development, and the escalating demand for housing, has resulted in a worrisome increase in carbon dioxide emissions. Notably, the building sector accounts for a substantial portion of energy consumption, amounting to approximately 40% of total energy usage and corresponding CO2 emissions. The concept of sustainable architecture gained momentum in the late 20th century, catalyzed by the environmental movement and heightened awareness of the detrimental impact of human activities on the environment. Embracing environmental considerations and drawing inspiration from traditional architecture, sustainable design methodologies emerged, integrating indigenous design principles with modern technology in a harmonious manner. Another avenue toward achieving high-performance architecture lies in the integration of smart building systems. By concurrently emphasizing environmental factors and harnessing the potential of intelligent technologies, a new architectural paradigm termed "Smart-Eco building" emerges, encompassing sustainable architecture within the built environment. Smart-Eco buildings comprise diverse parameters, each containing its own subsections. This study specifically focuses on the parameter of "Technical performance," delving into its subcategories, such as facades, windows, shading systems, roofs, and others. This article examines the importance of window and shading optimization within the context of Smart-Eco buildings. By prioritizing the analysis of window ratios and shading systems, the authors aim to shed light on their role in enhancing technical performance to meet ASHRAE standards. Through an exploration of cutting-edge research and innovative approaches, this study seeks to contribute to the ongoing advancements in sustainable architecture and the creation of environmentally conscious built environments.

A multi-level modeling approach for predicting real-estate dynamics

PurposeThis research developed a model to understand and predict housing market dynamics and evaluate the significance of house permits data in the model’s forecasting capability.Design/methodology/approachThe research uses a multilevel algorithm consisting of a machine-learning regression model to predict the independent variables and another regressor to predict the dependent variable using the forecasted independent variables.FindingsThe research establishes a statistically significant relationship between housing permits and house prices. The novel approach discussed in this paper has significantly higher prediction capabilities than a traditional regression model in forecasting monthly average prices (R-squared value: 0.5993), house price index prices (R-squared value: 0.99) and house sales prices (R-squared value: 0.7839).Research limitations/implicationsThe impact of supply, demand and socioeconomic factors will differ in various regions. The forecasting capability and significance of the independent variables can vary, but the methodology can still be applicable when provided with the considered variables in the model.Practical implicationsThe resulting model is helpful in the decision-making process for investments, house purchases and construction as the housing demand increases across various cities. The methodology can benefit multiple players, including the government, real estate investors, homebuyers and construction companies.Originality/valueExisting algorithms and models do not consider the number of new house constructions, monthly sales and inventory in the real estate market, especially in the United States. This research aims to address these shortcomings using current socioeconomic indicators, permits, monthly real estate data and population information to predict house prices and inventory.

Rational housing demand bubble

We provide a unified framework with demand for housing over the life cycle and financial frictions to analyze the existence and macroeconomic effects of rational housing bubbles. We distinguish a housing price bubble, defined as the difference between the housing market price and its fundamental value, from a housing demand bubble, which corresponds to a situation where a pure speculative housing demand exists. In an overlapping generation exchange economy, we show that no housing price bubble occurs. However, a housing demand bubble may occur, generating a boom in housing prices and a drop in the interest rate, when households face a binding borrowing constraint. The multiplicity of steady states and endogenous fluctuations can occur when credit market imperfections are moderate. These fluctuations involve transitions between equilibria with and without a housing demand bubble that generate large fluctuations in housing prices consistent with observed patterns. We finally extend the basic framework to a production economy and we show that a housing demand bubble increases housing prices, which can still be characterized by large fluctuations.

Teleworking and housing demand

The COVID-19 pandemic accelerated the trend towards teleworking. Many predicted that this would shift housing demand to the suburbs and homes with the potential for high quality office space. We examine these predictions using a survey of the working age population who live in the private housing sector. The majority in the sector are happy with their current home, but new teleworkers who plan to continue to do so – accounting for one fifth of the population – are characterised by a higher intention to move. Consistent with predictions, these teleworkers value a high quality home office more than others and are prepared to live further away from the centre to find it.

Housing demand shocks and households’ balance sheets

We examine the dynamic effects of housing demand shocks on a large set of macroeconomic series and detailed household balance sheet components for different wealth groups. The results show that a positive housing demand shock translates into a large boom in economic activity and reveal notable heterogeneity among wealth groups. While households of all wealth groups make heavy use of home equity-based borrowing, we find a larger consumer spending sensitivity for poorer households. A historical decomposition suggests that housing demand shocks have largely contributed to the pronounced drop in poorer households’ consumption during and after the Great Recession.

Policies and Mechanisms of Public Financing for Social Housing in Peru

Social housing in Peru is a significant contemporary urban issue. This study aims to assess the current state of supply and demand for social housing. The methodology employed involved examining indicators, socioeconomic reports, existing regulations, and relevant literature on social housing. Through this approach, we were able to determine the demand profile, identify the characteristics of the available supply, comprehend the dynamics of social housing programs, and establish the correlation between supply and demand. The ultimate goal was to explore the options for acquiring this type of housing. In Peru, the acquisition of social housing is facilitated through the Fondo MIVIVIENDA program, which operates through two primary mechanisms: Techo Propio and Nuevo Crédito MIVIVIENDA. The findings of this study reveal that the social housing offered in the country falls short of meeting the current demand of various socioeconomic sectors. This discrepancy arises from several factors, indicating that family income alone is not the sole limiting factor. The absence of consistent and well-designed public policies further exacerbates the issue, hindering social development, impeding citizens’ access to a better quality of life, and undermining their social inclusion.

“Whose city is it?”: Save Montreal and the Fight for Democratic City Planning

The group Save Montreal was founded in immediate reaction to the demolition of the William Van Horne mansion in September 1973. This article argues that while the group’s formation is frequently cited as the birth of Montreal’s heritage preservation movement, this label fails to fully encapsulate the group’s motivations. Central to Save Montreal’s activism were demands for community housing and public participation in the city’s planning process. These appeals stemmed from the fact that Mayor Jean Drapeau’s administration pursued a vision for the city based on modernist planning principles, namely automobility and the construction of megastructures. Such measures entailed the mass demolition of residences and businesses. In response, Save Montreal’s membership pressured government actors and the private sector to abandon these policies in favour of the creation of housing co-operatives, community-oriented zonings and public consultations. These efforts reveal that, beyond architectural and historical considerations, democratic planning and housing were central to Montreal’s urban conservation movement.

A Review Paper on PG Recommendation System

Abstract: Day by day world population is growing rapidly and a huge amount of people shifting to large cities and new places for work, education or job purpose, or a better life. That is why the housing demand is increasing and house renting becoming an elemental part of our society. As a result, I realized the importance of an online house renting website and come up with a decision to implement a such web application. In this paper rental website development is discussed. Through this website, tenants can rent properties and landlords can upload their property details for rent. This website will help users to give or take rent houses without dealing with flat brokers to finally reach an agreement that suits the interests of all parties. The packaging and shifting services facility will help users to shift valuable things safely to destinations. To implement, and testing of the proposed system, this application interface has been developed using HTML, CSS, JavaScript, Bootstrap, PHP, and MySQL database server that allows for making web pages interactive and responsive. This system was developed in such a manner so that it can provide a maximum user-friendly interface, and users can use it more efficiently.