Housing Fund Research Articles

Evaluation of real estate investment performance of insurance companies by NHF Act in curbing housing deficit in Nigeria

PurposeThe purpose of this study is to evaluate the real estate investment performance portfolio decision-making of the insurance firms by the National Housing Fund (NHF) Act in reducing the housing deficit in Nigeria. The insurance companies' gross premium, real estate investment and return on investment trends for the period 2014–2019 were evaluated, to determine the extent of their investment in real estate in Nigeria, this ought to have reduced the shortfall in housing.Design/methodology/approachBoth primary and secondary sources were used. Cronbach’s alpha was used for testing the reliability. The Friedman mean rank with Chi-square was used for different types of real estate investment properties and for reasons for investing in real estate by insurance companies in Nigeria. The test for normality was conducted using the Shapiro–Wilk and Spearman correlation for the significance. The percentage and the data envelopment analysis frontier model were used for measuring performance and efficiency.FindingsThe results showed that the majority of real estate investments made by insurance companies were in commercial and land buying and reselling and that their performance was below average. However, their motivation for investing is not toward the NHF Act but rather for diversification and increasing their capital.Originality/valueTo the best of the authors’ knowledge, this is one of the first studies in Nigeria that looked at how well insurance firms have performed investing in real estate as required by the NHF Act. However, the new Act, the National Housing Fund (Establishment) Act of 2018 which was put on hold due to flaws, affected data availability beyond 2019.

The role of bank credit in alleviating the housing problem in Iraq for the period (2004-2021)

It is no secret that bank credit plays an effective role in the economic and social life of all societies, especially in terms of stability and prosperity through the necessary financing for investors and individuals seeking their needs for housing units. The research was based on the financing provided by the relevant authorities in Iraq, such as the Real Estate Bank and the Housing Fund, with the support of the Central Bank through its well-known initiatives. The importance of the research lies in the ability of banks and relevant authorities to provide an appropriate climate for those concerned with the housing problem and meet their need to reduce this problem as much as possible if the required capital is available.As for the aim of the research, it revolves around the extent to which bank credit has an impact on reducing and effectively influencing the housing problem in Iraq. The research concluded that credit is linked to the housing problem through the existence of an inverse relationship between the housing problem as a dependent variable and bank credit directed to the housing sector, whether cash or pledged, as independent variables.The researcher reached important recommendations for a solution, the most prominent of which is the necessity for the state to adopt a new strategy to eliminate the housing crisis, which includes a specific and well-studied timetable to come up with unconventional solutions and not be satisfied with patchwork solutions and policies. The role of the private sector must also be activated in investing in the housing sector and providing all types of support and incentives to it, in addition to working to increase investment financial allocations directed to the housing sector. From the federal budget in order to meet as much as possible the need for housing units to alleviate the housing crisis, not to mention reviewing the laws and legislation related to the housing sector in a way that leads to making the housing sector an attractive sector for investment to attract the necessary capital for it.

Apartment Layouts of Social Housing for Tomsk Architecture

Apartment layouts define the types of residential cells and their correlation with a multiapartment residential building or residential development. It is one of the main parameters that determines spatial planning in the architectural design of a multi-apartment residential building.Purpose: To formulate recommendations for classification of residential cells of the housing fund for social use, which will be appropriate for the architectural design of a multi-apartment residential building; to determine accommodation of different types of apartments for families registered in the Tomsk regional administrations to improve living conditions. The criteria that determine the place of residential cells in the spatial planning solution of a multi-apartment residential building include the demographic composition of families and mobility of their members.Methodology: Statistical data analysis and diagrams of spatial planning solutions for multiapartment residential buildings, making use of residential cells of one to six rooms.Value: Solutions for housing architecture are proposed through apartment layouts in terms of the spatial planning for multi-apartment residential buildings in the Tomsk social housing.

EXPLORING INSTITUTIONAL INVESTORS’ DETERMINANTS OF INVESTMENT IN AFFORDABLE HOUSING FUND

This study attempts to explore factors that may attract institutional investors to invest in affordable housing funds in Malaysia. Six traits of investments were tested, namely fund structure and mandate, market return, social return, risk mitigation, governance and transparency, and government support for the investment. Based on the six determinants, the study uses a partial least square structural equation modeling (PLS-SEM) technique using data gathered from a survey involving employees of institutional investment firms in Malaysia. The study found three significant factors motivating institutional investors to invest in affordable housing fund, namely social return, government support, and governance and transparency. Overall, it was found that institutional investors do greatly consider social elements in their investment decisions. This will potentially open new avenues in fundraising efforts to build more affordable housing, hence providing an adequate supply of these homes for those in need.

Unveiling the Indian REIT narrative-qualitative insights into retail investors’ perspectives

PurposeThe present study delves into the causes of relatively lower retail participation in the Indian REIT market. Specifically, it investigates investors' attitudes and perceptions towards REITs as a unique asset class. This paper provides a comprehensive understanding of the perception and factors influencing Indian retail investors' reluctance to participate in the REIT market.Design/methodology/approachQualitative research was conducted through semi-structured interviews to gather insights from non-investors in REITs. The data were transcribed and analyzed using content analysis techniques. Finally, coding techniques were used to identify broad study themes.FindingsAccording to the study results, many retail investors are unfamiliar with REITs. Even among those knowledgeable about REITs and with a favorable view, it is not commonly seen as a feasible investment option due to its early stage, unattractive returns and limited number of REITs.Practical implicationsDeveloped countries have established REIT markets, while it is still in its infancy in developing countries such as India. Financial advisors, fund houses and the media should focus on educating investors to increase awareness.Originality/valueThe study is the first qualitative investigation into the perception of retail investors to understand the reasons for lower retail engagement in the Indian REIT market.

A Fantastic Pool of Potentially Huge Funds Behind Tapera

This research examines the controversial Tapera program introduced by the Indonesian government to provide a long-term, low-cost housing fund, analyzing its financial implications and public perceptions. Using secondary data sources and qualitative analysis techniques, this study estimates that the program could generate around IDR 201 trillion per year from Indonesian labor income. However, public sentiment remains mixed, with concerns regarding the mandatory nature of the program and its impact on low-income communities. These findings underscore the need for further exploration of Tapera's alignment with national development goals and its role in addressing housing affordability challenges. Highlights : The Tapera program could generate significant funds annually from Indonesian labor income. Public sentiment toward Tapera remains mixed due to concerns about its mandatory nature and impact on low-income communities. Further exploration is needed to assess Tapera's alignment with national development goals and its effectiveness in addressing housing affordability challenges. Keywords: Tapera program, Indonesian government, housing affordability, public perception, financial implications

California bill would allow funding of drug‐free sites in Housing First

A bill introduced this month in the California State Assembly would end harm reduction's exclusivity as the approach to addressing persons with substance use issues who live in housing developed under state's Housing First guidelines. If approved, the legislation would allow up to 25% of state housing funds to be allocated to drug‐free housing under an abstinence model.

ARCHITECTURAL AND URBAN PLANNING ASPECTS OF CITY RENEWAL IN UKRAINE

Cities that are at the epicenter of military conflicts find themselves in an extremely difficult situation. In addition to the most terrible ‒ human losses, the infrastructure of cities, housing stock and industry are destroyed. An extremely difficult task for such territories is their post-war reconstruction. This process can be successful only when there is an understanding of the main approaches and mechanisms for restoration work in such cities. The necessary solution is the development of effective strategies and programs for the reconstruction of cities. This determines a number of priority tasks, namely: analysis of the experience of recovery of the countries of the world after similar destructions and study of the peculiarities of housing reconstruction, as the most acute problem. The article examines the main directions of post-war reconstruction of cities, since post-war reconstruction is an extremely difficult task for any city and country. And for this, it is necessary to determine the priority directions of the restoration and development of cities, depending on the characteristics and nature of their destruction. The restoration of cities should not be limited to reconstruction, but should be decided on a case-by-case basis, taking into account the degree of destruction, the economic component and social reintegration. The experience of countries that have gone through the stages of war and reconstruction is of considerable importance in creating programs for the reconstruction of cities. The set of measures that will contribute to the implementation of programs of reconstruction and provision of housing for the population accretes the world experience. Therefore, the article examines the world experience of the restoration of war-ravaged cities. For partially destroyed cities with a preserved urban environment, it is possible to develop an actual design solution that will take into account the type of reproduction ‒ restoration, reconstruction, or new construction. For territories that have suffered severe destruction, possible options for the implementation of the reconstruction program and provision of housing for the population are: new construction, housing rental, temporary construction of modular or container facilities, formation of a replacement housing fund, compensation for housing. An approach to architectural and town-planning solutions has been developed, which consists in mastering the underground space, the spatial composition of the courtyard space, and the architectural solutions of the buildings.

An Empirical Examination of Factors Affecting SIP Adoption in Noida Region

Investment, appertained to as the conception of remitted consumption, which might correspond to copping an asset, rendering a loan, keeping the saved finances in a bank account similar that it might induce profitable returns in the future. The deployment of financial resources is undertaken with the objective of achieving fresh income or an increase in value. SIP has played a significant part in the Indian fiscal market. It gives openings to small investors to invest their small quantum and to take return of the fiscal market with minimal threat. SIPs are a mode of investment. It's the stylish option for those looking to invest a fixed quantum in collective fund schemes at regular intervals. Given its nature of investing, SIP helps conduct fiscal discipline and inculcates regular saving habits. The growth in financial literacy within the general population has spurred the proliferation of investments in these fund houses. A survey was undertaken among retail investors in Noida, comprising 143 respondents. The factors influencing investors towards systematic investment plan include Liquidity, Rupee cost averaging, Professional Management and diversification. Key Words: Mutual Fund, Systematic Investment Plan, Investors inclination, Returns

GOVERNMENT VERSUS COMMUNITIES: PROVISION OF LOW-INCOME COMMUNITY HOUSING IN DAERAH ISTIMEWA YOGYAKARTA

Post-pandemic recovery in various sectors makes state and regional budget allocations unreliable for developing the housing sector. Even though the public's needs for housing continue to increase, coupled with the issue of limited land availability. To overcome that, the government began working to develop alternative financing for the housing sector through non-government funding, with the main target being the low-income community. Non-government funding is a non-conventional financing mechanism for infrastructure procurement through stakeholder collaboration. Daerah Istimewa Yogyakarta faces several issues regarding housing provisions for low-income communities. This research explores the prospects of implementing non-government schemes for low-income housing development through a comparative analysis between the community's willingness and ability and the policy stakeholder's capacity, potential trends, and future policy direction. The approach used in this research is deductive mixed methods, employing data collection through questionnaires to assess the willingness and ability of the community, as well as the Delphi method through expert interviews. This study reveals several disparities between the community's willingness and ability and the government's capacity as a provider. On the other hand, non- government funding for low-income housing is prospective in the long term, with specific considerations and preconditions. The result of this research is that by improving coordination between the community and the government, coupled with efforts to enhance mutual understanding and more effective communication between the two parties, holds the potential to advance the funding prospects for low-income housing development in Daerah Istimewa Yogyakarta. However, it requires a considerable amount of time under specific conditions.

Правовой режим малоэтажного жилищного фонда в России

The article is devoted to very acute issue of legal regulation of the low-rise private housing fund, since the latter is one of the most prioritized and rapidly growing areas of territorial development in the Russian Federation, which rises the disputes over the legal regime of various types of lowrise housing stock, the legal status of owners and users of the corresponding residential premises, the nature of the emerging housing relations. The relevance of these problems is seen through the important changes in the housing and construction legislation of the Russian Federation, introduced in 2022. The purpose of this study is to identify common features and peculiarities of the legal regime of private low–rise housing stock, the nature of housing and other legal relations arising during the construction, commissioning and subsequent use of low-rise residential buildings. For this purpose, the features of the legal regime of an ordinary low-rise residential building, a blocked residential building, a low-rise residential complex, low-rise apartment buildings are analyzed. Having conducted a comparative analysis of the legislation fixing the features of the legal regime of various types of low-rise residential buildings, the practice of its application, the author comes to the conclusion that it is necessary to expand the application of the analogy of the law in resolving disputes concerning low-rise housing stock.

THE POSITIVE OBLIGATIONS OF THE STATE TO PROMOTE THE REALIZATION OF THE RIGHT TO HOUSING IN THE CONDITIONS OF FULL-SCALE WAR IN UKRAINE

The right to housing is a person’s constitutional right, a component of the right to a proper (sufficient) standard of living; the responsibility for creating the conditions for its implementation rests with the state. The state has a positive obligation to a person to create appropriate conditions for exercising and protecting the right to housing. In the need for a full-scale war, these obligations of the state transformed. The state, adhering to the principles of private law, cannot interfere in civil (personal) relations except for exceptions established by law. In this connection, there is a need to create new and improve existing legal mechanisms to promote realizing the right to housing. Forms of assistance in realizing the right to housing should include: 1) provision of preferential mortgage loans by state financial institutions at the expense of grant funds; 2) provision of preferential mortgage loans at the expense of budget funds; 3) formation of a housing fund for temporary residence of internally displaced persons; 4) compensation of costs for temporary accommodation of internally displaced persons; 5) compensation on the current account or financing of construction or acquisition of new real estate in case of destruction or damage of individual real estate objects.

ОБҐРУНТУВАННЯ МЕТОДИКИ ПРОВЕДЕННЯ РЕКОНСТРУКЦІЇ БУДІВЕЛЬ ТА СПО-РУД (ІНШИХ ЗАВЕРШАЛЬНИХ БУДІВЕЛЬНИХ РОБІТ) У ВІЙСЬКОВІЙ ЧАСТИНІ НГУ

The increase in the number of personnel, weapons, military equipment, material and technical equipment stocks causes the need for quartering and placement of military personnel, the use of additional buildings and structures for housing, storage of combat and special equipment, material and technical equipment stocks, conducting combat and special training, implementation tasks of everyday activities, as well as for economic and other needs. The solution to this problem lies in the reconstruction of buildings and structures in the military unit. Taking into account the specifics of financial support, management and subordination of the military units of the NSU, the mechanism defined for civil legal organizations and individuals regarding the implementation of measures for the preparation of project and estimate documentation, the start of the construction process and its progress, the author's supervision and control of the progress of the reconstruction of buildings and buildings (other final construction works) in the military part of NSU has a number of differences. In the conditions of martial law, it is positive that the repair and construction works performed in the area of reconstruction of buildings and structures (other final construction works) in the military unit are carried out with the preservation of the elements of the load-bearing and enclosing structures, and under the condition of their autonomy, there is no need for the duration of the works suspension of the operation of the facility subject to reconstruction, which allows the barracks and housing fund, other buildings and structures of the military unit to be used for their purpose in the future. With the help of the proposed methodological recommendations, the head of the rear quarters and operational service will have the scientific and methodological apparatus necessary for the reconstruction of buildings and structures (other final construction works) to solve the issues of quartering personnel, placing weapons and military equipment, and storing supplies of material and technical means in the military unit.

Сільський зелений туризм в Україні - стратегічна складова розвитку сільських територій

The article discloses theoretical issues related to rural green tourism. The concept of rural green tourism is revealed, as well as its types of purpose and the level of activity of tourists (active-sports, active-educational, passive). The main prerequisites for the development and functioning of rural green tourism within Ukraine are determined. A distinctive feature of rural green tourism has been determined, namely, the tourist's stay in an ecologically clean environment, located in a certain area far from the urbanized environment with the possibility of direct participation in agricultural processes. The types of rural green tourism that are presented on the Ukrainian tourist market are described. Namely, agrotourism, which is a type of rural green tourism of both an educational and recreational nature, associated with the use of household farms or lands of agricultural enterprises, which are temporarily not used in the agrarian sphere. Recreational tourism using the capital housing fund on the estates of the owners and the available natural, recreational, historical-architectural, cultural-domestic and other assets of one or another area. Ecotourism, which is a scientific and educational type of rural green tourism, characteristic of rural areas and villages located within the territories of national parks, protected areas, natural parks, etc., where appropriate restrictions on loads on the territory and regulated types of recreational recreation are provided. The positive impact of rural green tourism on the development and functioning of rural areas is singled out. The problems of the development of rural green tourism within the territory of Ukraine are highlighted. As well as the specified prospects and strategic goals of the development of rural green tourism.

Organizational and technological aspects of major repairs in the maintenance and operation of the housing fund

One of the tasks of a state is to create decent living conditions for the population, which includes providing people with high-quality and comfortable housing. However, over time, housing is subject to wear and tear, becomes outdated and unsuitable for use. Major repair measures are being implemented with the goal to slow down and prevent rapid deterioration of housing. Such measures are aimed at restoration, reconstruction and replacement of structural elements of residential buildings that have fallen into disrepair. Major repair of housing is a set of organizational, technological and economic measures aimed at reducing and eliminating the physical wear and tear of an apartment building. Major repairs were studied using the example of the Russian Federation, where there are two forms of deduction of contributions for major repairs of apartment buildings by the owners of premises therein: either to a special account opened by the owners of apartment owners of the building at a special bank, or deductions to the so-called “common pool”, i.e., to a general account of the regional major repair system operator. The system of major repairs of apartment buildings in the Russian Federation is based and implemented on a regional principle. Regional funds and regional major repair programs are formed within the regions. Provision of decent living conditions for the population and preservation of the housing fund of municipalities, being the most important task of modern socio-economic development of society, depends on the efficiency of the major repair system.

The ownership right to housing acquired by one of the spouses during marriage due to privatization

In Art. 47 of the Constitution of Ukraine, everyone is guaranteed the right to housing. The current legislation of Ukraine is generally aimed at assisting citizens in realizing their right to housing. For example, in Art. 4 of the Law of Ukraine "On preventing the impact of the global financial crisis on the development of the construction industry and housing construction” dated 12.25.2008 the features and mechanisms for providing individuals with affordable housing were introduced. At the same time, it is worth noting that a large part of the housing stock became the property of citizens in connection with privatization. Similarly, the national law also provides for the possibility of privatization of land plots. Despite this, family law, in terms of determining the legal regime of ownership of such objects, has undergone changes and in different periods of time provided for the presumption of joint compatible or personal private property of the spouses. Therefore, taking into account that, when considering disputes regarding the division of marital property, the determination of the regime of ownership is carried out on the basis of the legislation that was in effect at the time of acquisition of such ownership, the study of the problems of legal regulation of ownership of privatized housing during the period of marriage still remains relevant.
 Privatization of the state housing stock is the expropriation of apartments (houses), residential premises in dormitories intended for families and single persons, rooms in apartments and single­apartment houses where two or more tenants live, and the economic buildings and premises belonging to them (basements, barns, etc.) of the state housing fund for the benefit of citizens of Ukraine. Based on the analysis of the legislation of Ukraine, it is possible to conditionally distinguish three periods in the regulation of the legal regime of ownership of "privatized” property: 1) until February 8, 2011; 2) since February 8, 2011 - till June 12, 2012; 3) since 13.06.2012 - until now.

Regime of joint community property of spouses in Ukraine: need to implement foreign experience

This article is dedicated to historical aspects of the emergence of joint property of spouses and its contractual settlement (paragraph 1), the norms of the Marriage and Family Code (hereinafter - the Code of Marriage and Family) may also be applied to certain legal relationships. Yes, the Code of Marriage and Family lost its validity on 01.01.2004 and the Family Code entered into force, but those material marital relations that arose before 2004 must be regulated according to the norms of legislation that were in force at that time. Therefore, to the relations of spouses who acquired property before 2004 and continued to acquire it after 2004, both the Code of Marriage and Family the Family Code should be applied accordingly.
 Other normative acts may be applied to regulate family relations, which may specify specific features of the regulation of spouses' rights to certain objects. In particular, such acts are: the Land Code of Ukraine, Laws of Ukraine «On Privatization of the State Housing Fund», «On Farming», etc. The formulated concept «spousal property regime» means the legal position that property occupies in relation to the rights and interests in it of each of the spouses. In Ukraine, the following regimes of property ownership of spouses are distinguished: personal private ownership of property by each of the spouses; - joint joint ownership of property by spouses; - joint partial ownership of property by spouses.
 The essence of the regime of joint joint ownership of spouses (item 2), ways of division and disposing of joint joint property to the spouses (paragraph 3), marriage contract: grounds for conclusion (paragraph 4), marriage and family agreement in Ukraine and the need to borrow foreign experience (paragraph 4.1.).

CURRENT AND FUTURE SERVICE USE, SATISFACTION, AND NEED FOR SERVICES AS DEFINED BY RURAL AND FRONTIER OLDER ADULTS

Abstract This study focused on differences for current service utilization and satisfaction, along with perceived future service use and need for rural versus frontier residing older adults. A sample of older adults (age 65+), stratified using United States government and State of Wyoming definitions for rural (n=70) and frontier (n=72) counties, were interviewed. Frontier respondents reported less education F (1, 141) = 10.19, p = .002, η2 = .068, monthly income F (1, 141) = 17.03, p = .001, η2 = .108 with fewer financial resources F (1, 141) = 10.32, p = .002, η2 = .069, experience with technology F (1, 140) = 4.53, p = .035, η2 = .032, and potential for telehealth F (1, 140) = 19.27, p < .001, η2 = .112, along with fewer computers F (1, 141) = 11.08, p < .001, η2 = .084, and less access to the internet F (1, 141) = 10.19, p = .001, η2 = .073. Differences were evident for recent use of senior nutrition programs and meal sites, dental care, and senior centers along with future use of senior nutrition programs and meal site location, food related services, hearing and vision clinics, and housing needs. Policy concerns have been identified for the funding of future senior housing, medical care, transportation, and food support in frontier and rural areas.

Career Expectations of Russian and Chinese Students in Conditions of Social Risks

Relevance. For modern Russia, the problem of a career for young people is especially acute due to the unpredictability and unpredictability of external circumstances in which career processes are carried out. The formation of a personality is impossible without an established positive attitude towards work, readiness to acquire a particular profession. The profession sets a certain social background for people's lives. And therefore, many young people, when choosing a career, link their future profession and their possible material well-being.The purpose of the work is to identify the characteristics of the influence of career expectations on the professional choice of Russian and Chinese students in conditions of social risks.Objectives: to identify the specifics of career expectations of students in Russia and China; carry out a comparative analysis of the features of the influence of career expectations on the professional choice of Russian and Chinese students.Methodology. The methodological basis of the article is: a systematic method that allows us to identify the main elements of the external environment that determine the specifics of professional orientations of modern students; a comparative method reflecting the characteristics of the career expectations of Russian and Chinese students.Results. The paper reveals behavioral patterns that determine the dynamics of career expectations of Russian and Chinese students, accompanied by both positive and negative effects in professional self-realization; The results of the study made it possible to see the different orientations of the student youth of the two countries when making a professional choice, which are not only representatives of the new generation, but also representatives of two different civilizations: Eastern and Western.Conclusions. For Chinese university students overall, the results show that the top six career expectations include: equality of opportunity and fair competition; high income; provision of health care, pension and housing funds; good perks; satisfaction of hobbies and interests; opportunity to use their talents. For Russian students, the choice of a stable place of work prevails, and they also show a high interest in leadership activities, the ability to organize the work of other people, and have a high social status.

Housing System, Challenges, and Perspectives The Case of Georgia

Expired or Dilapidated multi-apartment buildings are one of the main problems in post-Soviet countries. Although different countries have periodically developed different ways to solve the problem, it has not been possible to solve it until new reform, because the analysis of the current practice shows that the only way to solve the problem is to dismantle the dilapidated multi-apartment residential buildings and build new ones instead. 
 The present article discusses the history of the development of the housing system in Georgia, the preconditions of the housing crisis, the existing social programs in Tbilisi Municipality, and the reform aimed at the gradual replacement of dilapidated houses. The article focuses on the international experience related to housing fund management, including in the countries of the post-Soviet space. The scope of powers of the state, municipality, and owners, prerequisites for the replacement of damaged residential houses, and decision-making procedure are discussed. The replacement process, the general characteristics of the multi-unit residential buildings subject to replacement, and the challenges the social program faces are described.