Property Transactions Research Articles

BILATERAL MATCHING DECISION-MAKING IN PROPERTY TRADING PLATFORM: A METHOD CONSIDERING INTERMEDIARY MORAL HAZARD

Effective method of bilateral matching decision-making could drive the property transaction market more dynamic and healthier. In the property trade process, once intermediaries are conscientious, the portrait of matching parties are clearly described, a reasonable and satisfactory result can be got. However, the intermediary moral hazard and the loss of the description about the characteristics of matching parties can affect the matching result. By developing a method for a property transaction platform, this paper proposes a novel approach that considering intermediary moral hazard to improve matching efficiency. A mathematical model of intermediary moral hazard is performed, and then the price and other evaluation indicators of sellers and buyers are described by five different types of value forms. A multi-objective bilateral matching decision-making model that “minimizes the intermediary moral hazard in the case of the maximum benefits of the matching parties” is constructed and solved by the dictionary order method. A real case study of property trade platform is presented to illustrate how the proposed approach could be applied in practice. The results of this research indicate that the proposed approach is a useful tool for matching sellers and buyers under the intermediary moral hazard and has substantial practical application.

Metaverse Land Purchasing in Agreement Legal Perspective

In Indonesia, the term metaverse is widely discussed when many people buy metaverse land. On the Nextearth.io site, a number of virtual lands on a digital map of the location of a number of important areas or assets in Jogjakarta have also been sold for the value of crypto currency. This is a little different because the land purchased is not land in the real world but land that only exists in the virtual world. the research objective is the mechanism and validity of land sale and purchase agreements in the metaverse. This research is normative legal research using a normative juridical method using a law approach as a source of law and supporting literature. Purchase of land in Metaverse can be done by accessing the website which is a platform used for virtual property transactions. If reviewing the agreement on the purchase of metaverse land, the sale and purchase agreement is valid because it fulfills the legal requirements of the agreement.

Do COVID-19 pandemic-related policy shocks flatten the bid-rent curve? Evidence from real estate markets in Shanghai.

The COVID-19 pandemic has drastically affected the socioeconomic activities and peoples' daily life, resulting in a change in locational preferences in the real estate markets. Although enormous efforts have been devoted to examining the housing price impacts of the COVID-19 pandemic, little is known about the responses of the real estate markets to the evolving pandemic control measures. This study investigates the price gradient effects of various pandemic-related policy shocks using a hedonic price model on the district-level property transaction data in Shanghai, China over a 48-month period from 2018 to 2021. We found that these shocks have significantly altered the bid-rent curves. The price gradient for residential property units decreased in absolute value to - 0.433 after Wuhan's lockdown, demonstrating peoples' preferences to avoid the high infection risks in districts closer to the city center. However, in the post-reopening and post-vaccine periods, the price gradient increased to - 0.463 and - 0.486, respectively, implying rational expectations of a recovering real estate market for the low infection and mortality rates. In addition, we discovered that Wuhan's lockdown has steepened the price gradient for commercial property units, suggesting a decline in business volumes and an increase in operating costs in the low-density districts imposed by the strict pandemic control measures. This study contributes to the empirical literature on the price gradient effects of the COVID-19 pandemic by extending the study period to the post-vaccine era.

Using enterprise resource planning systems to manage property processes

Background: The various organisations that are involved in property transfer transactions tend to work as autonomous units within the end-to-end property supply chain. This compartmentalisation of activities and tasks creates inefficiencies and a lack of transparency.Objectives: There is a need to review the current paper-based processes by evaluating the end-to-end processes in their entirety.Method: Semi-structured qualitative interviews were conducted with prominent role-players involved in the property transfer process in South Africa. The general systems view was used as the theoretical underpinning of the research, whereby property processes across the property supply chain should be viewed as a single system.Results: Enterprise resource planning (ERP) systems may assist in integrating workflow processes to enhance productivity and collaboration, and improve overall property processes. The participants confirmed the need for a centralised platform with integrated workflows.Conclusion: Participants who were interviewed concurred that a centralised system would produce numerous benefits and enhanced efficiencies through a streamlined and more transparent process. Therefore, the researcher recommends that an ERP system be introduced across the property supply chain. A centralised ERP management system would enable all parties to a particular property transaction to have sight of the progress of the transaction and reduce capturing errors across various systems.Contribution: The article will be useful within the immovable property industry, as well as to the buyers, sellers, and academia. Future studies could focus on how an ERP system could be integrated into the property supply chain.

Real Estate Security using Blockchain

Property is an important asset, and the use of blockchain technology can help improve the implementation of work in this sector as well as its characteristics significantly for a smooth and trouble-free work flow to achieve a reliable system. Property sales or property transactions can be carried out using the blockchain. By using blockchain, we can make our property sales transactions safer and faster. At the moment, we can developa private blockchain for property transactions. Individuals orgroups interested in conducting property transactions using the blockchain must join or register with the property transaction blockchain. A registered user can only buy or sell property through the blockchain. Blockchain smart contracts aid in the process of purchasing property. Once the buyer and seller have agreed on theterms (property details) and the buyer wants to proceed with the transaction, the property transaction can be done with the help ofa smart contract. A smart contract is a computer programme that runs automatically when specified conditions are met. So when a transaction takes place between a buyer and a seller, the contract between them is generated by a smart contract. The smart contractgenerated in this way can be used as proof.

Marketing Concepts of New Housing Projects in Surabaya during Pandemic based on Property Agent Perspective

The increasing demand and needs of consumers in property transactions makes the need for property agents even greater. In a pandemic condition that limits direct interaction, many housing developers have difficulty selling their housing products due to limited interaction with potential consumers and the lack of up-to-date information on housing products that consumers are interested in during this pandemic. The purpose of this study was to analyze the factors and sequence of criteria that became the basis for selecting new housing during the pandemic based on the perspective of a property agent.This study uses qualitative and quantitative research using interview data and processed into numerical data using product, price, promotion, place, and person variables. The method used is the Delphi method, AHP and Content Analysis, with the Delphi method useful for determining criteria and indicators that are validated from experts and AHP functioning as a weight for the validated criteria. While Content Analysis is used to formulate concepts.The results of this study obtained a sequence of variables that affect Product, (2) Place, (3) Price, (4) Promotion, (5) People.

Landholding in the Loire valley and the late Carolingian economy (c.840–c.1000)

This article builds on recent work on the Carolingian economy by giving an overview of landholding patterns and associated economic activity in the Loire valley in the ninth and tenth centuries. It demonstrates that only individuals and institutions with access to patronage from the royal fisc possessed large, unified estates; the majority of land was held as small, fragmented farmsteads. Moreover, these small parcels of land changed hands on a regular basis through grants and leases, allowing investment, agricultural development, and social and material returns for their owners. The article suggests that these small‐scale property transactions were the basis for growth and dynamism in the late Carolingian economy.

Legal Protection Of Buyers Against Land Mafia Crimes In The Making Of Sale And Purchase Deeds

This research discusses the legal protection for buyers in the context of land mafia crimes related to the making of a sale and purchase deed. Land mafia crimes have become a serious threat to property transactions, especially when involved in the creation of sale and purchase deeds. The purpose of this research is to analyze the legal protection available for buyers in dealing with land mafia crimes. This research uses the normative legal research methods by analyzing laws and regulations relating to property transactions and legal protection for buyers. The results showed that legal protection for buyers can be found in several legal instruments, such as the Basic Agrarian Law, the Law on Land Rights Guarantees, and the Law on Provincial Regulations on Spatial Planning. However, there are several challenges faced by buyers in protecting their rights related to property purchases. Land mafia crimes often involve complex practices and deception that are difficult to detect. In addition, vulnerabilities in the sale and purchase deed process and weak law enforcement are obstacles in providing effective protection for buyers. In this research, improvements are recommended in the legal system related to property transactions to provide stronger protection for buyers. Awareness-raising and education effort for the public are also important to prevent property deception and land mafia crimes. In addition, it needs to be close cooperation between the authorities, financial institutions and the public to tackle this problem. In conclusion, the legal protection for buyers in the context of land mafia crimes in making of sale and purchase deeds still requires serious attention. Improvement of law and regulations, increasing public awareness, and cooperation between institutions can help strengthen legal protection for property buyer.

APPROACHES TO BUILD AND DEVELOP DATA WAREHOUSES ACCORDING TO THE NOSQL MODEL

Traditional data warehouses support atomic, consistent, isolated, and durable (abbreviated, ACID) transactions. The ACID property of transactions guarantees the correction of concurrent access to a data warehouse. However, as the CAP1theorem explains, this property is always costly in terms of performance. For this reason, traditional data warehousesshow their limits when used in a very demanding context, such as the Cloud. The work presented in this article aims to propose approaches to build and develop data warehouses according to the column-oriented NoSQL model.

The phenomenon of “processual transformation” as an indicator of the vulnerability of patients of late age in forensic psychiatry

IntroductionDemographic ageing in the world population is accompanied by increased negative social trends towards elderly persons, age discrimination, cruel treatment and violence.There is an increase in crimes against the elderly related to fraud with their property, physical violence by children because of claims on the property of their parents.We observe a growing number of property transactions committed under the influence of fraud, deceit, difficult life circumstances. There is an increasing number of elderly, deprived of legal capacity.ObjectivesIn order to identify the biological, socio-psychological, legal and victimological determinants we examined 235 patients of late age who underwent forensic psychiatric examination in a criminal and civil process.MethodsRevealed: «non-dementia» mental disorders - in 45.5%, psychosis - in 7.7%, dementia - in 46.8%.ResultsPatients can simultaneously and consistently participate in criminal and civil process in the status of accused, victims, plaintiffs, defendants, people in respect of whom the incapacity is determined.The reasons for initiating these cases were often interrelated, the result of a long-term family conflict, often related to the disposal of property.ConclusionsSuch a change in the processual status of patients was characteristic of the late age, reflected their victimization.This phenomenon was called “processual transformation”.The probability of " processual transformation " imposes special requirements on the quality of examination of patients of later age. They should be as objective and reliable.Since the previous expert opinions may affect the subsequent expert opinions in other processes.This phenomenon are legal determinants that can have a disadaptive effect on the late age.Disclosure of InterestNone Declared

Is There a Proper Scope for Markets?

Abstract Debra Satz's brilliant essay highlights that it is insufficient to study markets in terms of efficiency and potential market failures, as they have deep effects on people and societies. This line of thought could inspire the project of building a general theory of social interactions, in which the specific properties of market transactions would be identified, and their influence on society at large, depending on the surrounding institutions and social structure, could be understood. In this brief essay, personal care provides an example of the complex ramifications of different arrangements for social interactions.

Exploring the spatial variation of the effect of Covid-19 on property market activity in Kampala District

The real estate sector in Uganda has been substantially impacted by the onset of COVID-19 in this country. Studies conducted worldwide have indicated that, pandemics affect property market activities differently. Additionally, the effect of pandemics on property market activity varies from one place to another. Studies conducted in Uganda, however, have not captured how the effect of COVID-19 on property market activities varies from one place to another. This study therefore explored the spatial variability of the effect of COVID-19 on property market activities in Kampala district, Uganda. The study took advantage of the spatial statistical analytical models advocated by GIS (Getis-Ord Gi*, OLS, GWPR) and a unique dataset of property transactions registered by the Ministry of Lands, Housing and Urban Development (MLHUD) during the outbreak of the deadly disease. Whereas the study observed high volumes of property transactions registered in the residential outskirts of the city, low volumes were observed in the Central Business District (CBD) and the low-income areas of the eastern and western parts of the district. On the other hand, the local model approach of GWPR exposed the substantial effects of COVID-19 on property market activities that varied from -39% to 10%. It was further established that COVID-19 generated negative effects in areas with low and high prices of land per acre, to the extent of increasing as the prices dropped or increased. On the contrary, a positive effect was realized in the residential outskirts of the city where prices of land per acre were moderate. Work from home, land parcel size as well as the composition of the population, proved to be the main drivers of the changes in property market transactions (activity). The findings of the study underpin the earlier postulations of various researchers that pandemics affect property market activity. However, the effects of the pandemics vary from one pandemic to another and from one place to another.

Towards a cognitive engineering of transactional services in IoT based systems

Cognitive computing is the capability of a system to mimic the ability of human brain to learn and adapt from the surroundings. Cognitive systems have decision-making capabilities based on new information, actions and outcomes. Similarly, Internet of Things (IoT) aims at making things smart, and enabling them to perform complex tasks. Reliability and flexibility are persistent challenges in the IoT context where the promise is managing a multitude of devices and delivering real-time responses for critical smart applications. A limited number of studies examine these challenges while considering cognitive capabilities of things and have failed to handle thing’s specificities in terms of communication bandwidth, power availability and storage capacity. Following the service oriented architecture (SOA), the functionality can be encapsulated as services. Thus, automating the management of transactional services in smart IoT ecosystem can be fulfilled through the coupling of transactional properties to cognitive things. This paper provides a comprehensive approach to alleviate reliability restrictions in cognitive IoT service compositions. The concept of cognitive faculty (CF) is introduced to leverage transactional properties of services and can be customized to specific requirements of IoT applications. A proof-of-concept is included in this paper based on a self-monitoring IoT application for diabetic patients.

Towards green gentrification? The interplay between residential change, the housing market, and park proximity

Green gentrification is a potential side effect of the temporal change of green spaces via various improvements. This paper suggests that green gentrification may occur even when green spaces remain unchanged. Spatially-explicit datasets and econometric models were used for this purpose. We found that in the case study city, Lodz (Poland), residential change is linked to the housing market (i.e., the number of property transactions and their prices). However, the strength of this association depends on the proximity to temporarily unchanged parks. We also found that the value of park proximity among housing buyers rises, suggesting the increased desirability of living close to parks, resulting in more intense residential change close to parks than in other locations. Therefore, scholars should consider green gentrification as a process that may be induced by time (in)variant green spaces. More emphasis is needed in housing studies to explore how changing residential preferences are related to gentrification.

Does the extent of time in drought affect the rate of farm ownership change in a local government area? A sixteen-year assessment of rural land ownership change in New South Wales, Australia

Droughts are significant catalysts of financial and emotional hardship for farming communities. However, does the extent of time an area has been in drought impact upon the rate at which agricultural land changes hands? Does it encourage more land to change ownership, as stressed farmers depart at faster rates, or does its negative impacts on farm production dampen demand for rural land? This study addresses this question through a unique, longitudinal (2004–2020) dataset of property transactions in 96 rural Local Government Areas (LGAs) in New South Wales, Australia. We measure the proportion of time each LGA has been in drought during the previous 1, 2, 5 and 10 years, and correlate this against the rate of agricultural land ownership change. Results indicate that in the short-term (<5 years), the proportion of time in drought is not a major influence on the extent of agricultural land ownership change. However, over a 10-year timespan, there is a statistically significant negative correlation between the two for non-irrigated agricultural land, grazing land and land owned by individuals (as opposed to companies). These findings suggest these agricultural land markets are sensitive to the long-term effects of drought. The take-home message seems to be that the persistence of drought saps the vitality of these agricultural land markets, leaving farmers with reduced prospects to capitalise on their land assets. This finding has resonance given that climate change models suggest an intensification of the frequency and severity of drought in much of rural NSW.

Technique as empowerment: Dispute resolution forums for older people in India

In India, various forums address intergenerational disputes involving older people and their adult children. Familial disputes arise due to fraudulent property transactions and/or abuse and neglect of older parents by children. While litigation is an option for older people, mediation and conciliation are considered a more suitable, age-friendly approach by law. There are maintenance tribunals, non-governmental organisations and alternative dispute resolution forums that assist and enable older people to assert their rights. Through an ethnographic study of three such forums and an analysis of complaint letters and orders from authorities, the article analyses the different techniques of dispute resolution. By framing “law as technique,” the article critically examines the methods of dispute resolution independent of the context of their occurrence and the goals it accomplishes/sets out to achieve. The techniques that are discussed in this article craft new legal subjectivities of older people that are empowering in nature, though with some limitations.

ST-PBFT: An Optimized PBFT Consensus Algorithm for Intellectual Property Transaction Scenarios

For the current Intellectual Property (IP) transaction scenario, consensus nodes need to simultaneously consensus transactions of the same transaction type, resulting in low consensus efficiency, accuracy, and reliability, which seriously hinders the development of intellectual property. Based on the consortium chain, this paper proposes a secure and efficient blockchain-distributed consensus algorithm, ST-PBFT (Shard Transaction Practical Byzantine Fault Tolerance), applied to the IP transaction scenario. The main contributions of ST-PBFT include the following: first, a grouping method based on the principle of consistent hashing is proposed to group consensus nodes, and nodes group consensus, which reduces the complexity of communication. Second, the transaction consensus group can process IP transactions in parallel, which improves the throughput of the algorithm. Third, a node reputation evaluation model is proposed, which can prevent byzantine nodes from being repeatedly elected as primary nodes. The experimental results show that ST-PBFT can significantly improve the consensus efficiency and reliability and reduce consensus latency.

Type-2 Neutrosophic Set and Their Applications in Medical Databases Deadlock Resolution

Electronic patient data gives many advantages, but also new difficulties. Deadlocks may delay procedures like acquiring patient information. Distributed deadlock resolution solutions introduce uncertainty due to inaccurate transaction properties. Soft computing-based solutions have been developed to solve this challenge. In a single framework, ambiguous, vague, incomplete, and inconsistent transaction attribute information has received minimal attention. The work presented in this paper employed type-2 neutrosophic logic, an extension of type-1 neutrosophic logic, to handle uncertainty in real-time deadlock-resolving systems. The proposed method is structured to reflect multiple types of knowledge and relations among transactions’ features that include validation factor degree, slackness degree, degree of deadline-missed transaction based on the degree of membership of truthiness, degree of membership of indeterminacy, and degree of membership of falsity. Here, the footprint of uncertainty (FOU) for truth, indeterminacy, and falsity represents the level of uncertainty that exists in the value of a grade of membership. We employed a distributed real-time transaction processing simulator (DRTTPS) to conduct the simulations and conducted experiments using the benchmark Pima Indians diabetes dataset (PIDD). As the results showed, there is an increase in detection rate and a large drop in rollback rate when this new strategy is used. The performance of Type-2 neutrosophic-based resolution is better than the Type-1 neutrosophic-based approach on the execution ratio scale. The improvement rate has reached 10% to 20%, depending on the number of arrived transactions.

Distribution facilities in California: A dynamic landscape and equity considerations

This work studies the distribution of warehouses and distribution centers (W&amp;DCs) in California and analyzes their potential relationships with disadvantaged communities (DACs). Through aggregated spatial analyses and econometric modeling, the research compares the concentration of W&amp;DCs in five metropolitan planning organizations (MPOs) in California. The analyses show that the weighted geometric centers of W&amp;DCs have shifted slightly toward city central areas in all five MPOs in the last few years, contrasting to the logistics sprawl trends evidenced in previous research. In the Bay Area and Southern California, W&amp;DCs are more prevalent in areas with higher pollution burden, according to the CalEnviroScreen (CS) score. In Southern California, the study analyzes disaggregate industrial real estate data of 49,697 property transactions (properties sold) between 1989 and 2018. On average, the size of the facilities transacted have decreased, especially for those closer to the urban center. These results are confirmed using parametric and non-parametric data analyses. During recent years, smaller and closer (to the urban core) facilities represent the largest share in the transactions, consistent with the trends in e-commerce and its associated distribution requirements. Moreover, the data show a disproportionate sitting of facilities in areas where DACs reside. The paper ends with a discussion of policy and planning recommendations.

Homestay Innovation Capability in a Property Business Perspective

The rapid development of entrepreneurship-based tourism has encouraged households in tourist areas to try to take advantage of opportunities to do business through residential property to become homestays. Homestays are offered for tourists who want to spend the night naturally, enjoy daily life with the local culture of the destination visited with all the facilities which of course can meet the needs of traveling. Residential home owners try to become property entrepreneurs by understanding the management of the property business through innovation capabilities that transform residential homes into homestays. The needs of tourists in choosing homestay accommodation are different from hotels or villas or bungalows, preferring to enjoy a homely atmosphere by getting memories and local experiences in tourist destination areas. Residential homeowners will seek information regarding home repairs and the physical availability of residential homes, arrange schedules, and need to study property management in collaboration with residential developers. So this study aims to determine the innovation ability of homestay property developers who are considered influential in increasing business through the dimensions of technology development, operational capabilities, managerial routines and property transactions. This descriptive research with quantitative and qualitative approaches uses triangulation data collection techniques and is statistically analyzed using Partial Least Square. It is important for homestay business owners to find building developers who can repair or rearrange buildings who have the ability to innovate in the property business. The results of measurements from residential home owners and property developers in tourist destinations show that the dimensions of strong property innovation capabilities are innovation capabilities in management and routine operations, while the dimensions of innovation capabilities that still have weaknesses are innovation capabilities in technology development and transactions.&#x0D; &#x0D; Keywords: Innovation capability; homestays ; Property Business.