Property Market Research Articles

Intellectual Property Commercialization Policy to Expand Financing Options for Indonesian Creative Economy Businesses

This study aims to develop alternate strategies for completing the creative economy Intellectual Property collateral financing policy so that it may be implemented in Indonesia. The methods used descriptive qualitative research with SWOT analysis to analyze the implementation of Intellectual Property-based financing schemes' supporting and inhibiting factors. The preparation of alternative strategies based on the SWOT matrix produces nine strategies. The nine alternative strategies produced were evaluated and tested using four practical policy analysis criteria: Effectiveness, Efficiency, Legality, and Administrative Robustness. Three primary recommendations emerged from testing alternative approaches: first, a plan to fortify industry regulations related to financial services, which will serve as a model for financial institutions implementing credit provisions based on Intellectual Property collateral and expediting the realization of financing products backed by Intellectual Property Rights. Second, a plan to standard Intellectual Property valuation formula or economic value of Intellectual Property and establish an ecosystem for the Intellectual Property market to promote more consistent Intellectual Property valuations and third, managing credit risk through joint ventures with insurance companies, the debtor will pay the insurance costs that allow the Bank or Financial Institutions to transfer risks to third parties if the Intellectual Property value declines.

The House-Scale Effects of the COVID-19 Pandemic in the Italian Property Market

The present research aims at identifying any changes in the market appreciations of the residential segment in Italy caused by the COVID-19 pandemic. With reference to the first half of 2023 (phase III, “post-COVID-19”), in the paper, a logical–operational methodology is implemented: a sample of properties sold in the two-month period January–February 2023 is collected and an econometric analysis is applied for determining (i) the most influential factors on selling prices and (ii) the functional links between prices and each selected explanatory variable. Furthermore, the findings obtained are compared with those related to the phases I, “ante-COVID-19”, and II, “COVID-19 in itinere” (by recalling a previous study of the same authors), to highlight the variations between the periods and provide useful guidelines for the design of domestic spaces in different Italian geographical contexts. In addition, this work conducts a comparison of the outputs derived from the econometric analysis starting from the real estate data collected on the reference markets (revealed preferences) with the results of a direct survey carried out on a sample of individuals through the administration of an ad hoc developed questionnaire and aimed at investigating the opinions of potential buyers of residential properties (stated preferences). The use of the “twin” approach (an analysis of perceptions via the direct survey integrated by the implementation of an econometric technique) allows us to verify the consistence of the real dynamics of market (expressed by the interviewees) with the mathematical model results for investigating the house-scale effects of the COVID-19 pandemic in the considered cities.

Does flood risk affect property prices? Evidence from a property-level flood score

One in six properties in England is exposed to flood risk and around half of those affected properties can be characterised as high risk. In this paper we examine whether the probability of flooding is capitalised in England's property market prices. We use unique property-level data from Rightmove, UK's no.1 property website and the property-level FloodScoreTMby Twinn, Royal HaskoningDHV. The latter is a metric of objective flood risk based on the likelihood of an individual property being flooded due to rainfall, overflowing rivers and tidal surges and is commonly used by UK lenders. By comparing the unconditional averages of our data, we find that properties at risk are sold at an 8.14 % discount compared to non-exposed properties, and the price discount increases to 32.2 % for properties with very high flood risk. By 2080 the flood events are expected to become more frequent and the average flood risk is projected to increase by 8 %. Our empirical model suggests that one percentage point increase in properties' flood risk is associated with a decline of 0.07 % to 0.11 % in both sold and asking property prices. The impact is higher for properties of which flood risk is expected to increase or for regions that have recently experienced a flood event.

Towards sustainable living: an investigation of the motivations behind green residential ownership in Malaysia

Purpose In recent years, there has been a significant increase in the number of green residential properties. This phenomenon indicates that the demand for environmentally friendly residential properties is rising. However, the true reasons behind the growing interest and investment in green residential properties remain poorly understood. When it comes to residential properties, assessing these benefits becomes more challenging and complex, as it is crucial to understand the motivations to invest in green residential properties. Therefore, the purpose of this study is to identify the component factors that motivate homebuyers to invest in green residential properties. Design/methodology/approach This research aims to address a research gap by identifying the component factors that motivate individuals to invest in green residential properties using a factor analysis approach. The authors gathered data by distributing an online questionnaire among 161 certified green residential owners in Selangor, Malaysia. Findings The results from the factor analysis revealed three components as the primary factors that motivate individuals to invest in green residential properties. The findings contribute significantly to the growing yet limited literature in this area of research. Research limitations/implications This research, however, set out to provide a context-specific motivation in Selangor as a limitation. Originality/value By understanding the motivations behind these investments, the research can encourage greater adoption of sustainable housing investment and guide developers and policymakers in offering better solutions for the green property market. The authors could facilitate informed decision-making and inspire positive change towards a future where sustainable housing becomes the norm.

Proposed Strategy for Maintaining A Small-Family-Business Enterprise in a Competitive Property Market

This study addresses the growing challenges faced by small family businesses in the competitive property market by proposing strategic interventions specifically designed to sustain and enhance the viability of Allure Realty Group, a family-run enterprise established in 2012 in Jabodetabek. With increasing complexity in the property sector due to urbanization, shifting consumer demands, and stringent regulatory environments, the research aims to develop a robust strategic framework. The methodology involves a combination of qualitative and quantitative approaches, including surveys and interviews, to identify key problems and collect data. Analytical tools such as the Marketing Mix 7P, VRIO Framework, and STP Analysis for internal factors, and PESTLE Analysis, Porter’s Five Forces, Competitor and Customer Analysis for external factors are used to conduct SWOT and TOWS analyses for strategic development. The study hypothesizes that targeted strategies will significantly improve the business's resilience and competitiveness in the market. Key objectives include identifying challenges faced by Allure Realty Group, developing strategies to address these issues, and implementing actions to improve operational efficiency, customer satisfaction, and market expansion. The expected outcomes are enhanced operational frameworks, increased customer satisfaction, and a larger market share, contributing to the business's long-term sustainability. This research contributes to business management theory by providing insights into strategies for small family businesses in rapidly evolving markets. The findings aim to bridge traditional business values with modern management practices, offering valuable guidance for both academic researchers and business practitioners in navigating the complexities of the property industry.

Tourism-Led Housing Commodification: Transnational Real Estate Networks and State-Permeated Property Investment in Havana, Cuba

ABSTRACT In a context of ever-growing demand for tourism property, this paper scrutinizes emerging forms of tourism-led housing commodification in Havana, Cuba. In 2011, the Cuban property market reopened to investment when the socialist government allowed the sale of private property at prices set in a market environment. We pay attention to the critical role of Cuban migrants, remittance investors and lifestyle elites in commodifying Havana’s historic housing stock and transforming residential property into short-term rentals, hotels, private restaurants and tourist boutiques. We demonstrate how the Cuban government has become an active market facilitator, either by restraining private competition or by encapsulating tourism property investment within broader channels of the state. We conclude that the case of Havana is indicative of broader trends in tourism and hospitality, particularly in the Global South and East. We propose tourism-led housing commodification as a conceptual framework for understanding these broader commonalities.

Digital intellectual property market: theoretical view and possible manifestations of unfair competition

The article describes the peculiarities and contradictions of the intellectual propertymarket, the types of market and the legal capacity of subjects of market relations. The formationin the human-digital system of the digital market of Ukraine and its component -the digital market of objects of intellectual property rights (OIPR), which have distinctivefeatures in providing with the use of digital platforms, is considered. It was determinedthat in the digital market of OIPR there are commodity-monetary relations with intangibleobjects regarding the transfer of exclusive rights depending on the type of contract betweenthe counterparties of the digital market. Digital intellectual property products commercializedin the digital market are digital things that exist in digital format on a physicalmedium and acquire a commodity-digital value expressed as a set of data in electronicform. It is noted that the digital market of Ukraine is currently integrated into the SingleDigital Market of the European Union. The peculiarities of digitalization of the intellectualproperty market are considered, which include: high concentration of leading firms andtheir monopolization, which will be charged with the most additional obligations; copyrightinfringement on the Internet, since every website has informational content, whichbecame the basis for an increase in the number of offenses related to the use of copyrightobjects; the protection of the digital identity, which is a component of the individualitythat exists in the online environment and becomes critical in connection with the risks ofcybercrime, which determines the legislation on the protection of personal data in the EU;the virtual asset market, which most often includes cryptocurrencies that do not have acentral governing body and are not backed by any national currency; the field of artificialintelligence as a new object of legal regulation. These features of the digitalization of theintellectual property market testify to the relevance and perspective of the study of theproblems of digitalization of the intellectual economy, which are not exhaustive.

The Fiscal Capitalization of Public Spending: Does Municipal Operating and Capital Spending Increase Property Values?

This study investigates the impact of local public spending on property values. The theory of fiscal capitalization, first proposed by Charles Tiebout and Wallace Oates, holds that a positive relationship exists between local public spending and property values. The theory posits that individuals and businesses make locational decisions based on their preferences for a community’s mix of taxes and spending on services. Although an extensive literature exists supporting fiscal capitalization, studies rarely investigate the separate effects of operating versus capital expenditures. Furthermore, few studies have investigated whether a distinct capitalization effect exists between the signal created by ongoing capital expenditures and a longer term amenity effect realized once projects are completed. This article extends the fiscal capitalization theory by assessing these distinctive effects on property values. The study uses a border discontinuity research design, limiting the sample to residential properties near municipal boundaries. The results show capital and operating expenditures have different effects on property values. In addition, the spending on capital improvements has short-term and long-term effects in the property market. The findings provide local policymakers with guidance on the relative benefits of operating versus capital spending when balancing the two choices.

“A Comprehensive Review on the Psychological Underpinnings of Investment Decisions among Chinese Investors"

Through a systematic literature review, this paper provides insights into the psychological and behavioural factors that influence Chinese investors' investment decisions. It is found that Chinese investors' behaviours are influenced by a complex interaction of cultural values (e.g. Confucianism), economic factors and the regulatory environment. Common psychological biases such as overconfidence, loss aversion and herding behaviour are prevalent among Chinese investors but are often moderated by cultural factors. Influenced by cultural norms, Chinese investors generally exhibit a long-term investment orientation and high savings rates. The study also found that the fast-growing technology sector and the property market are notable areas of investment activity in China, demonstrating both successes and failures. In addition, regulatory changes and government policies play an important role in shaping investor sentiment and decision-making. However, existing research remains deficient, particularly with regard to the interaction between cultural factors and individual investor characteristics, as well as institutional investor behaviour. This study provides insights into the unique aspects of Chinese investment psychology and behaviour for regulators, investors and financial institutions, contributing to a better understanding and characterisation of the Chinese investment market.

Exploring the impact of renovation subsidies on housing markets – evidence from the Swedish property market

PurposeThe primary aim of this research is to examine the effects of the Renovation, Conversion, and Extension (ROT) tax deduction for renovations on the scope and quality of renovations and its subsequent impact on house prices across various Swedish municipalities.Design/methodology/approachThis study utilises a two-way fixed effect instrument variable (IV) spatial Manski approach, analysing balanced panel data from 2004 to 2020 at the municipal level (290 municipalities) in Sweden. The methodology is designed to assess the impact of the ROT subsidy on the housing market.FindingsThe study reveals that the ROT subsidy has significantly influenced house prices, with noticeable variations between municipalities. These differences are attributed to the varying amounts of tax reductions for renovations and the extent to which property owners utilise these subsidies.Research limitations/implicationsThe research is limited to the context of Sweden and may not be generalisable to other countries with different housing and subsidy policies. The findings are crucial for understanding the specific impacts of government subsidies on the housing market within this context.Practical implicationsFor policymakers and stakeholders in the housing market, this study highlights the tangible effects of renovation subsidies on property values. It provides insights into how such financial incentives can shape the housing market dynamics.Social implicationsThe research underscores the role of government policies in potentially influencing equitable access to housing. It suggests that subsidies like ROT can have broader social implications, including the distribution of housing benefits among different income groups and regions.Originality/valueThis study contributes original insights into the field of applied real estate economics by quantitatively analysing the impact of a specific government subsidy on the housing market. It offers a unique perspective on how fiscal policies can affect property values and renovation activities at the municipal level in Sweden.

Dampak Keterlibatan Influencer, Konten Kreatif dan Strategi Kreatif terhadap Niat Membeli : Peran Mediasi Kesadaran Merek (Studi Kasus Citraland Puncak Tidar Malang)

This study aims to explore the influence of digital marketing, especially the use of Influencers, Creative Content, and Creative Strategy, on purchase intention in a competitive property market, with a focus on the role of Brand Awareness. Using quantitative methods, this study involved 52 customers of CitraLand Puncak Tidar Malang who had made purchases, and data analysis was carried out using PLS-SEM using SmartPLS 3.3.3. The results showed that although Influencers, Creative Content, and Creative Strategy had a positive relationship with Brand Awareness, the relationship was not significant. On the other hand, Brand Awareness had a positive relationship with Purchase Intention but was also not significant. Creative Content showed a positive relationship with Purchase Intention, but was not significant. On the other hand, the Use of Influencers and Creative Strategy showed a significant positive relationship with Purchase Intention. In conclusion, the variables studied are relevant in explaining data patterns in the property market, although some relationships are not significant. Keywords: Influencers, Creative Content, Brand Awareness, Purchase Intention, Creative Strategy

The influence of price, product, location, brand image and promotion on XYZ housing purchasing decisions

The research aims to study the influence of price, product, location, brand image, and promotion on the decision to buy a house in XYZ housing, and is expected to make an important contribution in deepening the understanding of property market dynamics. The data collected were analyzed using the SPSS program. The results show that 81.1% of purchasing decisions can be explained by variables such as price, production, location and brand image and promotion. Moreover, the results of the F test indicate that the variables of price and product have no significant impact on purchasing decisions.

Proposed Strategy for Maintaining a Small-Family-Business Enterprise in A Competitive Property Market

Proposed Strategy for Maintaining a Small-Family-Business Enterprise in A Competitive Property Market

Design of A Property Product Recommendation System Using Association Rule Method Based on User Interaction Patterns

This work creates an association rule-based real estate product recommendation system. Personalizing property suggestions based on user behaviour optimises property searches. Data-driven insights enhance dynamic property market user experience. Association rules alter property advice. Data-driven insights and adaptability improve property search by proposing homes depending on user engagement patterns. Strong algorithms establish location, budget, and property associations, and association rule technology and user interaction patterns increase property recommendations. Personalized property discovery uses accurate and adaptive suggestions from continuous learning. Results reveal that user interaction pattern-based association rule techniques improve property suggestion accuracy and personalization. The system's tailored advice improves property market decisions, confirming its usefulness and adaptability. Insufficient user data might distort suggestions, especially for specific interests. Not enough user diversity can lower system accuracy. User data and privacy must be secured to optimize the recommendation system. Association rules and user engagement patterns can transform property recommendations. This innovative technique can improve property searches, provide personalized ideas, and help consumers make informed decisions in a competitive market.

Navigating the city: Role of property-market intelligence channels in urban governance networks

This study presents a novel perspective on the impact of market-intelligence channels on property markets and the subsequent effects on the formation of alliances among public- and private-sector actors in urban governance. I argue and demonstrate that property actors, especially investors, collaborate through knowledge coalitions by utilizing the market-intelligence channels they created, not only to navigate property markets but also to establish the mode of regulation in urban development. By using a strategic-relational perspective, it is possible to analyze the underlying institutional infrastructure of the property market as a dynamic system shaped by the relationships and interactions among various social and economic actors. In addition to forming various marketing or lobbying coalitions, property actors forge alliances by converting pertinent information—such as locational analysis, socioeconomic data, policy and land-use forecasts, permit conditions, and planning strategies—into advanced market intelligence. This process allows them to define the norms, rules, and principles to be negotiated with public policymakers and enhance their positions in knowledge-based governance networks. To obtain empirical evidence about Amsterdam’s property market, a comprehensive data set was created to identify the influential actors. Extensive deskwork was conducted to map the diverse channels and connections of market intelligence. Key players in the property market were also interviewed to provide a comprehensive view of the active market-intelligence channels in governance networks.

Interpreting the "Unbundling" of Purchase Restrictions in China's Property Markets from Volume and Price Perspectives

Interpreting the "Unbundling" of Purchase Restrictions in China's Property Markets from Volume and Price Perspectives

Juridical Study of Ownership of Ownership of Flats by Foreign Citizens Based on Government Regulation Number 18 of 2021 concerning Land Rights Management Rights for Flats Units and Land Registration

This study aims to determine and understand the Ownership of Usage Rights of Apartment Units by Foreign Citizens Based on the Theory of Benefit. The research methods used include a statute approach and a conceptual approach, a type of normative legal research, with data collection methods through library surveys and qualitative legal analysis. The results of the study indicate that Government Regulation Number 18 of 2021 provides a legal basis for foreign citizens to have usage rights over apartment units in Indonesia but does not provide full ownership rights, this regulation provides legal certainty and clear procedures, which are expected to be further elaborated in the Ministerial Regulation. The Indonesian government needs to consider allowing foreign citizens to have ownership rights over apartment units by considering the various benefits that can be obtained. This step can increase foreign investment, encourage economic growth, improve property quality, stabilize the property market, increase state revenues, and support infrastructure development. With proper regulation and strict supervision, this policy can provide significant benefits to the Indonesian economy and society as a whole.

Toward obsolete housing: A complementary explanation of increasing coastal vulnerability

This paper explains the process of increasing coastal vulnerability in response to coastal flooding, from the property market viewpoint. Rooted in knowledge about housing submarket-based neighborhood change, this study adds new understandings of how housing obsolesces influence vulnerability following rapid land use changes, which are currently studied as a new exposure by many researchers. We employ six years of house sales transaction data (n = 1,029) in a spatial data-driven delineation with k-means, through which the submarket shift can be visualized. This approach addresses weaknesses in the existing methods to measure neighborhood change. We find that second-hand houses purchased by low-income people tend to cluster close together in newly formed submarkets in at-risk areas creating submarkets for western-inner city and distressed properties. Our data series also show that the geographical growth of the submarket for distressed properties is expanding, creating further blight in the submarket for western-inner city. Consequently, the submarket for distressed properties tends to transform into an area characterized by substandard housing conditions or slum living. Bearing in mind that the consequences of a flood will cover a wide range of issues, such as the future of public services, and the welfare of citizens in general, disaster risk management is fundamental to socio-economic development of a country. This study can enrich discussions around housing vulnerability and neighborhood change and support the current debate over spatial adaptation and climate change.

The Relationship of the 4P Model to Purchasing Decisions: Evidence on Residential Property

This paper explores the application of the 4P model (product, price, place, promotion) in analyzing the factors that influence house purchasing decisions in the Anging Mammiri Residence housing complex, Makassar City. Through quantitative research with a descriptive approach and collecting primary data through questionnaires, validity and reliability tests were carried out on these variables to ensure the robustness of the variables and the formation of a linear relationship between the variables. The population in this research is the number of consumers who have bought a house at Anging Mammiri Residence, Makassar City from 2016 to 2022. In this research, the sample was taken using the Census Sampling technique where the researcher took the entire sample or part of that number. Questionnaires were distributed to all home buyers totaling 131 respondents. However, at the data processing stage, 61 respondents did not return the questionnaire. So, the number of samples used was 70 respondents. The research results found that product, price, location and promotion had a significant and positive influence on the decision to purchase a house at Anging Mammiri Residence, Makassar City. This research contributes to understanding the elements of the marketing mix and analyzes the 4P model in shaping consumer decisions and its implications for the property market. Apart from that, it contributes to the government as a source of literature in formulating appropriate policies and in building infrastructure and regional development such as roads and other public facilities.

Unlocking visual data to enhance the accuracy of AI-enabled mass valuation of urban houses: An Australian city case study

Despite earlier praises of hedonic price models (HPMs) in predicting the prices of residential properties, stakeholders in the property market have raised concerns regarding inaccuracy in automated valuation models (AVMs) using conventional HPMs. Furthermore, despite significant advancements in integrating artificial intelligence and image data into AVMs, research in the Australian context is absent. This paper investigates how image data capturing visual features of properties could enhance valuation accuracy using the data of actual sales of 34,399 properties from 2018 to 2020 across 128 urban suburbs in Brisbane, the third largest city in Australia. We develop a convolutional neural network model to extract visual features from large-scale data of 320,000 street-view and aerial-view images. We develop fusion models to integrate these additional visual features in HPMs. Using several experimental designs, our preferred fusion models generate a reduction of 28.35% in root-mean-square errors. Less predictive errors of AI-enabled AVMs through the use of visual data would enhance business confidence for AVMs’ end-users for investment, reporting, risk management, tax estimation, and urban planning purposes.