House Sales Research Articles

The rights and obligations of consumers, banks and developers in the home purchase agreement through the home ownership loan facility (STUDY PT.PILAR WAHANA SEJATI)

This study aims to (1) Examine and analyze the legal relationship between consumers and developers due to the Home Purchase Agreement. (2) reviewing and analyzing the legal protection of Home consumers due to the obligations of the developer due to the house sale and purchase agreement. The research method used is juridical normative by using conceptual (conceptual approach). Data analysis is done qualitatively by utilizing relevant positive theories and laws. Legal protection of consumers is regulated in law No. 8 of 1999 on consumer protection this law is expected to protect consumers in buying and selling homes through home ownership credit facilities. Based on the rules of law ,then in making the sale and purchase of houses must be made in the form of an authentic deed that is a deed that is made in the form specified by law and made before the competent public officials. Deed of sale and purchase under Article 617 of the Civil Code Kepmenpera number 09/1995 and PP24 / 1997, The Deed of sale and purchase must be signed by the seller and buyer in the presence of PPAT.

The Impact of Real Estate Purchase Restriction Policy on Urban Economic Development—A Case Study of Beijing

Since 2010, Beijing's purchase restriction policy has been adjusted several times to adapt to the market and promote stability. In April 2024, the policy was eased for housing areas outside the Fifth Ring Road, marking the first major adjustment in 13 years. This paper analyses the economic impact of Beijing's real estate purchase restriction policy, focusing on its effect on investment, consumption, industrial structure, and employment. The study indicates that the purchase restriction policy initially hinders investment and consumption in the short term but contributes to market stability and industrial optimization in the long run. The policy change has increased housing sales and growth in related industries outside the Fifth Ring Road, promoting economic development in the suburbs. Furthermore, the policy has a nuanced impact on the employment market, encouraging labor mobility toward high-tech and service industries while affecting employment in real estate-related sectors. The study suggests that policymakers need to consider the impacts of various aspects to ensure the healthy development of the real estate and employment markets.

The Lost Plays of Ralph Sheldon (1623–1684)

Abstract This article traces the fate of an important group of early English plays in fifty-six volumes, collected by the Warwickshire antiquary Ralph Sheldon (1623-1684) and sold at a Christie’s country house sale at his home nearly a hundred years later. The sale itself in 1781 was an early example of the booksellers ‘ring’ and involved some of the major collectors of early English drama, notably David Garrick, Edmond Malone, and the Earl of Charlemont. The earlier portion of the Sheldon plays, recorded by Anthony Wood in a manuscript list, may have survived as part of the Malone bequest to the Bodleian Library. The Restoration Plays remained largely intact, in some thirty volumes, until the ill-fated sale of Lord Charlemont’s library by his descendants at Sotheby’s in 1865, discussed by Arthur and Janet Ing Freeman in The Library, VII, 23 (March 2022).

Entrance opportunity vs. academic performance: unpacking the nonlinear capitalization effects of multidimensional school qualities on housing sales and rental prices

It is widely documented that school quality has a capitalization effect on housing prices. However, existing literature has commonly reported a linear relationship between housing sales prices and the academic performance of nearby schools. This study challenges this prevalent understanding by examining how the entrance opportunity as an integral part of school quality affects both housing sales prices and housing rental prices, in response to the newly adopted point-based school enrolment policy in China whereby tenants are allowed to access local public schools but with fewer opportunities compared to homeowners. Employing machine learning algorithms, this study identifies which key school indicators and what ranges of these indicators have significant impacts on different housing sales and rental price segments in Shenzhen, China. Our results reveal that housing rental prices, particularly in the lower-priced segment, are more determined by the entrance opportunity than the academic performance, while the latter is the most important factor influencing housing sales prices. The nonlinear capitalization effect suggests that tenants and homebuyers are willing to pay more for school quality increases only within specific ranges, namely, from median to a relatively high level of school quality. These findings contribute to a more nuanced and updated understanding of the education capitalization effect and thus inform more inclusive and equitable urban planning and governance.

Does the size of the housing rental market stabilize regional economic fluctuations? Evidence from China's large- and medium-sized cities

The influence of the housing rental market on economic operations is a significant concern. Particularly in China, the rental market has been undergoing a transition from being disregarded to being valued. Based on an analytical framework referencing the three-sector theory of metropolitan economic growth, this study explores the impact of rental market size on regional economic fluctuations and its influence channels using a panel of 69 large and medium-sized cities from 2010 to 2019. The results indicate that increased rental market size is significantly correlated with decreased regional economic fluctuations through housing sales and labor market channels. Specifically, house price depression, house investment stability, labor allocation, and employment stability effects are crucial channels through which the size of the rental market influences regional economic fluctuations. In addition, the marginal effect of rental market size on regional economic fluctuations is smaller in cities with higher economic development. The conclusions imply that policymakers should not focus on how to unilaterally expand the housing rental market, but should strategically compensate for the defects of regional housing rental–related institutional systems.

One Step Further to Unsustainability: Effects of the International Crisis on Antalya Housing Market

One of the cities affected most by the war between Ukraine and Russia has undoubtedly been Antalya, which hosted many Russian and Ukrainian tourists for years. After the war broke out, those who came to this city, known by both countries’ citizens who were not subject to any restrictions, were no longer tourists but settled there and became long-term residents. The increase in sales and rentals to foreigners has affected the owner-occupied and rental housing markets in many ways. These sales and increased demand have directly caused the prices of housing units to rise and the number of rental housing units to become insufficient. This paper highlights the process and changes in the housing market in Antalya during the international crisis between Russia and Ukraine. The main findings revealed that the increasing number and prices of housing for sale in the central districts negatively affect the rental sector and limited housing provision in the face of an increase in recorded population during the periods examined. These unregulated and unsustainable housing markets result in various risks and consequences, especially for residing households, many occupational classes and development scenarios of the city. To overcome these problems, regulations on legal and policy perspectives and considering a foreign residency policy together with housing policy in Türkiye are highlighted.

Predicting housing sale prices in Germany by application of machine learning models and methods of data exploration

Predicting housing sale prices in Germany by application of machine learning models and methods of data exploration

External costs of high-voltage overhead transmission lines: Evidence from a causal approach in rural France

In light of climatic change and global warming, electricity transmission networks need to be developed for the integration of renewable sources. In North America and Europe, to achieve renewable electricity goals, massive investments in electricity transport infrastructure are planned to connect solar and wind generation sites to the grid network. However, local opposition to new installations of high-voltage overhead transmission lines (HVOTLs) is causing delays and cost overruns. Visual nuisance is an important basis of local stakeholders' opposition to a new project. Estimations of the local economic impact of HVOTLs can help in identifying the external costs of the electricity supply industry to improve both efficiency in electricity pricing and fairness in defining provision for host community compensation. Prior research has provided evidence that existing HVOTLs have negative but not substantial effects on their immediate neighbourhoods. However, these studies have applied a correlational approach. This paper revisits the external effects of HVTOLs, exploring the case of a 225 kV line connecting two medium-size cities (Saint-Privat-d'Allier to Saint-Etienne) in France. We take advantage of the public disclosure in 2009 of undergrounding 8 km out of a total of 87 km lines as a result of a network upgrade project, to develop a difference-in-difference specification of a hedonic regression model, by comparing house sale prices at different distances from existing pylons, before and after the announcement of the decision to upgrade the line. We show that undergrounding was accompanied by an increase of about 38% in the price of treated houses located within 200 m of old pylons. The implied environmental costs of proximity to high-voltage pylons are substantial and their reduction is internalized into house prices as soon as the decision to go underground is announced.

Real Estate Economy in the Post-epidemic Era

The COVID-19 outbreak has had a significant impact on China's real estate market, with the sector's recovery lagging behind the overall economy. This study evaluates the pandemic's influence on consumer behavior, housing demand, and preferences, highlighting substantial declines in real estate development investment and commercial housing sales. Key factors contributing to reduced demand include a shift towards remote working models, heightened health and safety concerns, and evolving perceptions of urban living. To stimulate the market, government incentives such as tax breaks and housing subsidies are recommended. Additionally, developers are encouraged to embrace smart city technologies for optimizing energy consumption and providing convenient community services. Emphasizing health-conscious design is crucial for improving air quality and increasing green space while investors should diversify their portfolios to mitigate market volatility risks and enhance resilience. The objective of this study is to devise an appropriate real estate economic recovery plan that aligns with the changing urban to sustain economic growth.

Machine learning for real estate valuation: Astana, Kazakhstan case

Purpose of this research is to investigate the accuracy of machine learning models in forecasting and evaluating house prices, and to understand the key factors that impact pricing. The study involved analyzing data scraped from real estate ads in the “sale of secondary housing” category on the website krisha.kz. The paper emphasizes the importance of understanding the factors that affect house prices, such as quality, location, size, and building materials. It was concluded that these factors have a strong correlation with house price prediction. The information available on krisha.kz was found to be a useful resource for finding good apartments. The data collected by the scraper was analyzed by models: Linear regression (LR), interactions linear regression (ILR), robust linear regression (RLR), fine tree regression (FTR), medium tree regression (MTR), coarse tree regression (CTR), linear support vector machine (LSVM), quadratic SVM (QSVM), medium gaussian SVM (MGSVM), rational quadratic gaussian process regression (RQGPR), boosted trees (BoosT), bagged trees (BagT), neural network based on the bayesian regularization algorithm (BR-BPNN). BR-BPNN showed better results than other models, with an MSE of 32.14 and R of 0.9899.

DESAIN DAN IMPLEMENTASI SISTEM INFORMASI JUAL BELI RUMAH PADA PT. ADHIASTA KARYA PRATAMA

In today's civilization, the delivery of information is very fast, with technology and internet speed getting faster from year to year. Therefore, all forms of information, especially in marketing products, are very quickly accessible to consumers using online media. PT. Adiastha Karya Pratama really needs an online marketing system that supports marketing its products by using a personal website, in this way consumers will be helped to find information that supports their interest in buying PT products. Adiastha Karya Pratama. At this time PT. Adiastha Karya Pratama operates in the housing developer sector. A web-based home sales information system has advantages, including being effective and efficient for buyers. Buyers only need to access the computer to search for house sales information. Has a function to track the location where the buyer will go to the location of the house for sale.

Housing sales and construction responses to COVID‐19: Evidence from shelter‐in‐place and eviction moratoria in the United States

AbstractThe goal of this article is to analyze the county‐level impact of public policies related to COVID‐19 on the housing market in the United States. Aimed at reducing the spread of the virus, different states throughout the United States enacted nonpharmaceutical interventions (NPIs) such as shelter‐in‐place (SIP) and eviction moratoria, in different months and for varied stretches throughout 2020 and 2021. SIP orders could potentially limit the ability of home‐buyers and sellers to interact as well as they could pre‐COVID, introducing frictions in the process of selling houses. Prolonged and overlapping eviction moratoria could dampen the construction of multifamily units and encourage the landlords to sell rented‐out apartments. This article attempts to investigate if and how these interventions causally impacted the county‐level housing sales and building permits approval in the United States. The article estimates the average treatment effect of these orders using a traditional generalized difference‐in‐difference estimator and a recent variation of the estimator that is more suited to multiple treatment groups with staggered treatment introductions and withdrawals. The results show that SIP is associated with significantly smaller year‐on‐year changes in sales of single‐family houses, condominiums and the collection of all residences. Selective moratoria on eviction hearings and judgments are also found to be associated with smaller year‐on‐year changes in multifamily building permit approvals.

On the Civil Legal Issues of ‘Haunted House’ Sales Contract - Take Peng Qian et al. and Chen Yuanhui et al. House Sales Contract Dispute Case as an Example

As a vital transaction in daily life, house sale is not only related to the property rights and interests of buyers and sellers, but also carries the peace and happiness of the family. However, when the target house of the transaction is labeled as a ‘haunted house’ -that is, there have been incidents such as suicide and homicide in the house, it often causes the buyers and sellers to fall into deep disputes and troubles. ‘Haunted house’ is not a legal concept, but it carries deep folk traditional concepts and psychological shadows, which has a significant impact on the purchaser’s willingness to live and the market value of the house. The research on the civil legal disputes of the sale contract of ‘haunted house’ is inevitable and necessary in practice. Taking Peng Qian et al. and Chen Yuanhui’s housing sales contract dispute as an example, this paper discusses the civil legal issues in the ‘haunted house’ sales contract, and clarifies the definition of ‘haunted house’ and its legal attributes as a defect of the object in combination with the research status at home and abroad, relevant legal provisions and scholars' views. At the same time, it is of practical significance to analyze the relief ways that victims can take in combination with the information disclosure obligations of sellers and intermediaries. FundingThis research was funded by Guangdong Province Science and Technology Innovation Strategy Special Fund ( College Students ' Science and Technology Innovation and Innovation Cultivation ), grant number Pdjh2024a073 and South China Agricultural University 2024 College Students ' Innovative Training Program Project, grant number S202410564128.

Residential transformations and real estate market trends associated with tourism activity in urban popular sectors: Ciudad Bolívar in Bogotá

Purpose This study aims to identify the transformations of the residential landscape and trends in the popular real estate market associated with tourist activity in a low-income neighborhood in Bogotá. Design/methodology/approach The methodology was mainly qualitative, although the author analyzed some quantitative data. The author conducted three guided tourist tours in the area and systematically compared photographs taken in 2022 with satellite images in 2019 before starting the tourist activity. To analyze the real estate market, the author uses data on housing offers for sale and rent. Finally, the author conducted semi-structured interviews with tour guides, residents and other key actors in the sector. Findings This study identified some dynamics of change in the real estate market, particularly associated with an increase in housing sales and rental prices, as well as a possible effect on the increase of new informal growth processes. The author found a growing transformation of the urban and residential landscape associated with the painting of facades by the local administration and mural painting processes by community organizations. There are evident housing investment processes, some associated with verticalization and other use changes for tourism activities. It is necessary to reflect on these processes’ effects on the city’s sociospatial dynamics. Originality/value This study makes an empirical contribution to the relationship between residential real estate markets in low-income sectors and tourism activity. Although analyses of community-based tourism in popular areas have been conducted, less is known about the effects on the real estate market and the associated sociospatial transformations.

Access-based cost-benefit analysis

Current methods of cost-benefit analysis (CBA) for transport investments rely on travel-time savings for potential users. This approach presents a consistent and significant historical trend of forecast inaccuracy, and thus has been questioned and criticized. Access, or the ease of reaching valued destinations, can be used as an alternative. Access features a strong correlation with land value which can be measured through hedonic analysis, and subsequently, access gains offered by a transport initiative can be monetised via property uplift. We test this hypothesis and evaluate Sydney's South West Metro Link (SWML).We first develop linear and semi-log ordinary least square hedonic pricing models for house sales in the Sydney region. The models are set up with structural and neighbourhood attributes in addition to access measures, and result in a statistically significant fit.Next, we model changes to job access induced by the SWML. Benefits are then quantified by land value uplift and are estimated at $1.87 Billion in 2031 and between $1.53–$3.08 Billion in 2061, which reflect base and transit-oriented development (TOD) scenarios. The project is thus feasible should certain land use and economic conditions be met, including TOD to occur about station localities by 2061 and if project costs are minimal. Although limitations are noted, access-based CBA exhibits significant promise as an alternative approach to appraisal and has direct application in value capture strategy.

주택매매소비심리의 변화가 주택매매시장에 미치는 영향에 관한 연구

1. CONTENTS (1) RESEARCH OBJECTIVES The purpose of this study was to analyze the effects of changes in the macroeconomic environment, demographic characteristics, and housing consumer sentiment on housing sales and to present implications. (2) RESEARCH METHOD The analysis method used the Vector Error Correction Model in consideration of the cointegration relationship between the variables as data obtained by time-series observations of macroeconomic characteristic variables, demographic changes, and housing consumer sentiment indices, which are variables used such as housing sales. (3) RESEARCH FINDINGS As a result of analysis, the influence of housing trading volume fluctuations, and housing consumption rate, and housing consumption rate, and housing consumption rate, and housing consumption rate, and economic growth index. 2. RESULTS First, as U.S. inflation has recently shown a downward trend and interest rates are expected to fall, the housing market is expected to recover, mainly in the metropolitan area, where prices have fallen significantly. Second, in the case of Seoul, housing sales are not active except in some areas with favorable development, and the overall downturn in the housing brokerage market is expected to continue. In particular, the outlook for the housing brokerage market will be positive as demand for housing in these regions increases due to the spread of telecommuting due to the transition to the era of the 4th industrial revolution. Third, it is believed that Korea's housing brokerage market, like other advanced countries such as the United States and Australia, needs to develop into a franchise-type comprehensive real estate company that includes real estate management and financial consulting along with housing brokerage.

거시경제 및 인구특성의 변화가 수도권 및 비수도권 주택 매매시장에 미치는 영향에 관한 연구

This study attempted to compare and derive the impact on the housing sales market in the metropolitan area and local cities and to present implications in terms of the real estate brokerage market. The Vector Error Correction Model was used as the analysis method in consideration of the time series characteristics and cointegration relationship of the used macroeconomic and demographic variables. The analysis results and implications are summarized as follows. In the case of the metropolitan area model, interest rates, consumer price indices, population growth rates, and fertility rates were the main factors influencing the housing sales market. The five metropolitan city models are the main factors influencing interest rates, economic growth rates, and consumer price indices, while the explanatory power of the fertility rate is very low. Considering these results, housing can be classified as an investment product in the metropolitan area, and local cities can be classified as a housing sales market with strong characteristics as a consumer product. Long-term housing sales are not expected to increase significantly due to the recent decline in investment and real demand due to the stabilization of housing prices due to high-interest rates. The housing brokerage market needs to be developed into a convergence field by combining highly relevant management and consulting.

LEGAL LIABILITY OF PROPERTY DEVELOPERS REGARDING THE FULFILLMENT OF OBLIGATIONS TO CONSUMERS IN SALE AND PURCHASE TRANSACTIONS USING THE BINDING SALE AND PURCHASE AGREEMENT

Business people show great interest in the development of the property industry. With promising market prospects, developers have significant legal responsibilities to potential buyers. To ensure legal certainty and avoid future conflicts, consumers must understand and comply with the legal rules contained in the agreement. The Sales and Purchase Agreement functions as a contract between the seller and the buyer at the initial stage of the home buying and selling process. This research examines the developer's responsibility towards consumers in house sale and purchase agreements through the Agreement of Sale and Purchase Binding mechanism, because a lack of consumer awareness and knowledge can increase risks to their rights. The method used in this research is based on normative juridical. The aim of this research is to determine the developer's legal responsibility towards buyers as consumers, so that there is legal certainty for buyers using the Agreement of Sale and Purchase Binding system. Developers must bear the losses experienced by consumers in accordance with Article 19 of Law Number 8 of 1999 concerning Consumer Protection. In accordance with Article 19 of Law Number 8 of 1999 concerning Consumer Protection, this research aims to determine the developer's legal responsibility towards buyers as consumers, so that buyers can obtain legal certainty through the Agreement of Sale and Purchase Binding system. In addition, the developer is responsible for providing accurate information and guaranteeing the quality of construction, which includes the construction period to the maintenance period, until all sales and purchase agreements are completed.

Unveiling buyers’ preferences for privately developed affordable housing: a study in Kolkata, India

Purpose The purpose of this study is to examine the buyers’ preferences influencing the purchase of privately developed affordable housing in Kolkata and to determine whether unsold houses result from misalignment with these preferences. Design/methodology/approach The literature review and user-opinion survey identified 119 independent variables that indicate buyers’ preferences. A questionnaire survey of 383 households in affordable housing units from 32 housing complexes in Kolkata recorded buyers’ preferences and satisfaction against the independent variables grouped under five levels of characteristics. The product weights of variables derived from the rank sum method and percentage satisfaction give the Utility Score. Multivariate regression and univariate linear regressions were conducted to determine the significance of each Level of characteristics and each variable, identifying the significant variables that would affect the sale of affordable houses. Findings The multivariate regression analysis has indicated that 68.56% of the variation in the percentage of unsold houses was explained by the five utility scores, which affirms that misalignment with buyers’ preferences significantly affects the sale of privately developed affordable houses. Furthermore, building and neighbourhood-level utility show the highest significance as predictors, while city-level and miscellaneous utility have moderate significance, but housing complex-level utility lacks statistical significance. Originality/value This study addresses a research gap in privately developed affordable housing in Kolkata, enhancing understanding of buyer preferences in this segment.

An Analysis of Chinas Housing Purchase Situation Based on Real Estate Policies

Because of some new policies in China, the government has begun to lower house prices and encourage people to buy more houses, at least in Anhui. However, the reduced housing prices have not led to an increase in residential housing sales. So the author analyzes the reasons for the current insufficient purchasing power of Chinese residents' housing based on existing literature and data. The result shows that, in the context of contemporary society, personal income levels have significantly decreased. This decline is influenced by various factors, including tax policy reforms and the profound impact of the COVID-19 pandemic on the global economy, including China. At the same time, the hedging ability of the real estate industry has also decreased, which hinders the improvement of personal purchasing power. Although the real estate market has shown strong risk resistance and has gradually recovered from the initial impact of the epidemic, the lingering impact and uncertainty still affect individual purchasing power.