Real Estate Investment Research Articles

COMPLEXIDADE GEOECONÔMICA E AS ANÁLISES GEOGRÁFICAS REGIONAIS

The goal of the paper is to unravel the geo-economic complexity of regional agglomeration economies. For this one, the spatial focus is on the western region of Santa Catarina. The main result of cross-referencing the literature with empirical research data was to break the stereotype that the region under analysis is specialized purely and simply in agro-industrial production. In fact, it is a complex, specialized and diversified geo-economic dynamic; given the overflow of agro-industrial capital into other productive sectors, such as machinery and equipment, mechanical metal, renewable energy, meat production technologies, real estate investments and others. This led to the identification of four agglomeration economies with differences and similarities from a production point of view: Chapecó and Xanxerê, Concórdia and Joaçaba, Videira and Caçador and, finally, São Miguel do Oeste. Methodologically, the research considers three steps: 1) bibliographic and data collection; 2) fieldwork and technical visits; 3) organization, cross-referencing and qualification of the data collected. Keywords: Geo-Economics Complexity; Agglomeration of Economy; West of Santa Catarina.

The Evolution of Real Estate: Digital Marketing's Influence

Digital marketing has become an essential trend for real estate firms in India, driven by improved network infrastructure and the widespread use of smart phones. This research examines the various digital marketing strategies employed by real estate companies and evaluates their effectiveness. With potential clients increasingly conducting their own research online, digital marketing has become a vital component of overall marketing efforts. Enhancing brand image and facilitating efficient customer communication are imperative for real estate organizations, and this requires fortifying their online presence on search engines, corporate websites, and social media platforms. Digital marketing, particularly through social media platforms, has a significant influence on the real estate industry, just like it does on many other sectors. In today's real estate marketing, websites, Face book, Integra, and YouTube have become indispensable resources. There is little study that focuses especially on social media management within India's real estate business, despite the fact that economic growth and population increase are the driving forces behind Indonesia's real estate market. Major segments in the real estate market include land, residential, commercial, and industrial properties, as well as real estate investment trusts, undeveloped land, and vacation homes. In the fiercely competitive real estate landscape, agents must do more than merely acquire a license—they need to embrace the digital innovations reshaping property transactions. Integrating digital marketing fully into real estate services is imperative. To meet the increasing demand for sustainability, real estate firms must develop digital expertise and skills to deliver impactful and efficient digital marketing solutions.

Climate policy uncertainty and its impact on real estate market dynamics: A sectoral and regional analysis.

This study explores the impact of Climate Policy Uncertainty (CPU) on real estate market volatility, utilizing the CPU index to assess how climate policy affects various real estate segments. It highlights the significant impact of CPU on sectors with high energy demand and emissions, such as industrial and residential. A multi-horizon analysis reveals the long-term sensitivity of CPU's influence, with significant sensitivity noted in coastal regions prone to climate risks. The findings provide crucial insights for investors and policymakers, emphasizing the importance of integrating CPU considerations into strategic decision-making for real estate investment.

Integrated energy services in parks: Analyzing stakeholder dynamics and innovation under the REITs model through 23 policy documents

Industrial parks are significant consumers of energy, contributing to global carbon emissions and intensifying the need for strategic interventions to meet carbon reduction and energy efficiency goals. In China, the Real Estate Investment Trusts (REITs) model has been adopted to advance the development of Integrated Energy Services (IESs) within these parks. This paper analyzes 23 Chinese government policy documents to explore the key stakeholders in park-based IESs, particularly the central role of energy companies in shaping collective decision-making processes. The study highlights how business models, including financial investment, offline and digital services, and innovative practices, have evolved under the REITs framework to drive the development of IESs and foster collaboration among stakeholders.

Performance Analysis of Reits and Invits in India: A Comparative Study with the Nifty 50

This paper investigates the performance of Real Estate Investment Trusts (REITs) and Infrastructure Investment Trusts (InVITs) in India compared to the Nifty 50 index, using a series of financial models including the Sharpe Ratio, Mann-Whitney U test, Chi-square proportion test and Pearson’s Correlation. The study focuses on whether REITs and InVITs consistently outperform traditional investments like the Nifty 50 in terms of returns and risk-adjusted returns. Despite the significant capital inflow and growing interest in alternative investments, there is limited research focused on the Indian market, where macroeconomic conditions, regulatory changes, and investor sentiment play a crucial role. This paper fills that gap by exploring the risk-return profiles, performance during periods of market volatility, and potential for portfolio diversification provided by these instruments.

Predictors of investment intention in real estate: Extending the theory of planned behavior

This paper explores the factors affecting the investment intention of individual real estate investors utilizing the extended theory of planned behavior. With the help of self-administered questionnaire, data from 366 individual investors from India was collected. This data was analysed using two-step structural equation modelling. While significant direct effect of attitude, external influence, financial self-efficacy and perceived financial return was found, interpersonal influence, perceived financial risk, facilitating conditions and financial awareness had no significant direct impact on investment intention. Upon checking the mediating effect of attitude on the factors, all factors influenced investment intention through attitude except facilitating condition and financial awareness. It was also observed that attitude stands out as the most important aspect due to strongest influence on intention directly and also providing mediation to all variables except two. The study guides policymakers and investment institutions to develop strategies and utilize resources in a direction that can bring out a positive outcome by strengthening real estate investors’ investment intentions. It brings out the fact that financial confidence should be boosted by enabling investors to handle and manage their finances which can bring in a positive attitude for investing.

Dynamic Risk Spillover in International Real Estate Investment Trusts: Implications for Asset Investors

Dynamic Risk Spillover in International Real Estate Investment Trusts: Implications for Asset Investors

Unveiling the role of the state in Istanbul’s urban transformation: Insights from Galataport redevelopment

In recent decades, the redevelopment of waterfronts in global cities has become a focal point for large-scale real estate investments, often driven by neoliberal policies. These projects, characterized by the increasing involvement of state agencies, aim to transform obsolete industrial areas into lucrative spaces for tourism, commerce, and luxury living. This article scrutinizes the intricate dynamics of state-led waterfront re-development, through the lens of Istanbul’s Galataport project. It analyzes the multifaceted dimensions of the transformation process, shedding light on the historical backdrop, socio-political underpinnings, and economic imperatives that have shaped the development of Galataport from 2002 to 2022. Through a comprehensive analysis of primary sources, including governmental reports, policy documents, and scholarly literature, the article accentuates the pivotal role of the state and state actors in orchestrating the transformation of Istanbul’s urban landscape. Furthermore, it examines the implications of the Galataport project on urban governance and socio-cultural and spatial dynamics. It concludes that the central government pursued a speculative entrepreneurial approach in the Galataport project, clearing various legal obstacles while neglecting public interest. This case study takes the first step towards a comprehensive critical re-evaluation of the recent urban development/governance model to contribute to a nuanced understanding of contemporary urban/waterfront development paradigms in Türkiye and similar geographies.

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.

A Comparative Study of The Application of NPV And IRR To Real Estate Investment Decision- Making

The China real estate industry is undergoing a fluctuation nowadays. And this paper is going to investigate this industry by researching a leading enterprise, CHINA VANKE CO., LTD. with the assistance of two financial instruments, Net Present Value (NPV) and Internal Rate of Return (IRR). Furthermore, the paper has another purpose that is comparing the properties between NPV and IRR. This paper uses literature research method and case study to analyse the situation of Vanke and list the possible considerations while having the analysis. After a series of research, the author considers NPV as a better indicator compared to IRR. NPV has the advantage of simple marginal determination, however, the related indicator, discount rate cannot be determined easily and accurately in the real estate analysis since it can be affected by many factors. For advantage of IRR, it is simple to calculate the value because it is only decided by the cashflows. On the other hand, IRR cannot clarify the real estate investment decision-making by itself, it must have the assistance of NPV versus discount rate graph. Consequently, the mixed employment would present a clearer and more comprehensive analysis for investors.

Analysis of Influential Factors of House Prices in Shenzhen

The change of house prices in Shenzhen can reflect the trend of house price changes in China, to a certain extent. This text chose the Factor Analysis Method to Specific analyze influential factors. This text put F1 as a variable, which included Total Floor Space of Residential Buildings Sold, Permanent Population, Total Floor Space under Construction of Commodity Housing, Investment in Real Estate Development, Gross Domestic Product, Local Budgetary Revenue and Expenditure. Through analyzing the data, this text deduced that Longgang, Baoan and Nanshan districts had above average values on F1. This text put F2 as a variable, which included Per Capital Disposable Income of Permanent Households and Growth Rate of Real Estate Investment, etc. Through analyzing the data, this text deduced that Nanshan, Luohu, Futian districts had above average values on F2. This text can conclude that Nanshan, Baoan and Futian Districts had a great influence on house prices in Shenzhen.

How Does Corporate Governance Influence Real Estate Investment Trusts (REITs) Performance?

This paper aims to study how corporate governance could influence the performance of Real Estate Investment Trusts (REITs). This paper uses literature reviews to analyze REITs' special features, such as the advisory pattern and mandatory dividends. In addition, as the birthplace of REITs, the United States has a highly sophisticated system. In this paper, U.S. REITs, such as S&P 500 REITs, are taken as the primary research object, and the compensation of CEOs of some REIT companies is also studied. Based on the research and analysis, it is concluded that REIT companies are highly susceptible to the influence of their multi-party shareholder ratios when faced with decision-making opportunities. Additionally, the responsibilities of each department within the company's management also affect the performance of REITs. Furthermore, the paper spares no effort to create a future academic research room and provides clear guidance for investors to have an initial understanding of REITs.

To What Extent Has the Real Estate Industry Affected China's Economic Growth?

This paper focuses on the impact of the real estate industry on China's economic growth. We discovered, through an examination of certain specialist literature and statistical data analysis, that the real estate sector has been a major factor in China's economic expansion. Particularly, real estate investment is a considerable portion of fixed asset investments and makes a noteworthy contribution to economic growth. However, every coin has two sides. The rapid development of real estate also comes with some problems, such as the risk of real estate bubble and high leverage. Therefore, in order to make the real estate better promote the development of the national economy, the government has decided to guide the orderly and stable development of the real estate industry through policy regulation. In this article, by reviewing the previous literature and analyzing some relevant data about real estate, I will explore the impact of real estate industry on China's economic growth. The research finds that the development of the real estate industry is good for economic growth, but at the same time, policymakers should also pay attention to controlling the development speed of the real estate, such as: real-time monitoring of the market and formulating relevant policies to avoid problems.

Research on the Influencing Factors of House Prices in Chicago

This study provides a comprehensive analysis of the factors that influence housing prices in suburban Chicago. Using detailed regression analysis, several key variables were identified as significant predictors of property value. The study included variables such as the number of bedrooms, square footage, number of rooms, size of the lot, annual taxes, number of bathrooms, number of garages, and the condition of the house. The R-squared value of the model is 0.732, indicating that approximately 73.2% of the house price variance can be explained by the selected variable. Houses with more rooms and more square footage tend to cost more. In addition, characteristics such as the number of garages and bathrooms can also have a significant impact on house prices. These findings provide valuable insights for real estate professionals, buyers and sellers, enabling them to make informed decisions regarding real estate investment and pricing strategies. By understanding the key drivers of house prices, stakeholders can better navigate the suburban housing market and ensure more accurate assessments and strategic planning.

Investigation on Influence Factors of the C-REIT Market: Applying the Fama-French Three-Factor Model

This research paper has applied the Fama-French Three-Factor Model to the China Real Estate Investment Trust (C-REIT) market over a two-year period from June 2022 to June 2024. The innovation is recognized as the C-REIT market was established in 2021 with the first 9 REITs issued and few researches were conducted on the C-REITs. The study obtained data from the Wind database in the after-COVID period and concluded that the model fits well for the behavior of the Chinese REIT market. The market premium factor is found to be positive, while the size factor (SMB) is negatively significant, and the value premium (HML) is positively significant. This suggests that REITs with smaller market capitalization and those with a higher book-to-market ratio are more likely to contribute to the portfolio's excess returns. The intercept in the regression is statistically significant and that implies that there may be additional factors that are not captured by the current model. As such, the paper advocates for further research into multi-factor models to explore potential factors.

Challenges of International Investment in Real Property Portfolio in Nigeria

A real estate portfolio enables investors to diversify their investments and mitigate risk, thereby achieving consistent income through rental yields, property value increases, and various investment returns. It presents opportunities for long-term wealth accumulation and financial stability. Moreso, a foreign investor who is looking to invest in Nigeria has these goals in mind, with an understanding that an effectively managed portfolio can improve cash flow and provide tax advantages. This paper investigates the challenges associated with international investment in Nigeria's real estate sector, which is important for economic advancement yet presents numerous challenges for foreign investors. The study introduces both global and local perspectives and outlines the nature of international real estate investments and their importance to Nigeria's economy. It identifies and analyses the primary challenges encountered by international investors, including economic factors such as inflation and currency fluctuations, legal and regulatory challenges like land tenure issues, and political instability characterised by policy changes and corruption. Additionally, the paper addresses cultural and social hurdles, such as language differences and local perceptions of foreign investment, along with infrastructural shortcomings, including inadequate urban planning and insufficient facilities. It was recommended that reforms should aim to stabilise the economy, enhance legal clarity, promote political stability, and improve infrastructure. The conclusion highlights the necessity for a comprehensive strategy to attract and retain international investors, detailing measures to alleviate challenges and create a favourable environment for real estate development in Nigeria.

Understanding the Transformations of San Lorenzo, Rome: An Attempt at Conceptual Order between Gentrification and Urban Policy

This paper is the result of a preliminary research phase aimed at identifying the phenomenon of gentrification in Rome’s San Lorenzo neighborhood, examining the perception of the phenomenon and the urban planning tools that have been adopted until today to contain it. The experimental framework proposed, based on qualitative research methods, aims to discuss if some urban transformations can be related only to market phenomenon inherent to gentrification or to the lack of planning tools able to manage—through the construction of a shared view on neighborhoods development—the negative externalities resulting from the real estate investments induced by the tourism sector and linked to the presence of universities in the reference territory. The research combines an international theoretical framework; the analysis of the policies and of the urban transformation during the contemporary history of the neighborhood; and interviews to key informants such as representatives of local institutions and associations, researchers, inhabitants, and others. The research approach intends to deepen the general perception and the comprehension of the phenomenon of gentrification from the local community, in relation to his own involvement in decision-making processes about the strategic regulatory–prescriptive development of the neighborhood. The primary objective of the paper is to advocate for an analytical framework that facilitates a better understanding of gentrification within the national context and explores potential institutional responses. It seeks to clarify the concept of gentrification, which is often misunderstood when interpreted solely through its Anglo-Saxon definition. By doing so, the paper aims to contribute to informed discussions and effective policy-making regarding urban development in San Lorenzo and beyond.

Assessment of Property Taxes and their Impact on Real Estate Investment in Plateau State, Nigeria

Taxes imposed on property in the country are characterised by intricate and complex interactions of both traditional, colonial, and modern-day circumstances, and the revenue generated from these taxes is often an important source of finance for the government. In most developing countries, these taxes have led to multiple taxation due to complex, diverse, inadequate, and imperfect information. Thus, this study aims to assess the various property taxes in practice and their impact on real estate investment in Plateau State, Nigeria. The objectives pursued include identifying the various property taxes along with their administering agencies and assessing the impact of these taxes on property investment. The researchers targeted 90 respondents from an estimated population of one million five hundred in the Greater Jos area, and successfully recovered 68 responses through simple random sampling based on the survey conducted among residents. A questionnaire was used to gather the views of taxpayers on multiple taxation and its effects on land and buildings, and the collected data was analysed descriptively. The results revealed that almost all taxpayers in Plateau State pay taxes to the government consistently and to more than two agencies. Furthermore, all tiers of government have their own forms of taxes collected, which have a direct effect on investment. It is therefore recommended, among other measures, that tax collection should be clearly defined and streamlined with respect to which tier of government is responsible for collecting specific taxes on property occupation. This could help reduce, if not eliminate, the issue of taxing the same property multiple times.

СУЧАСНІ МЕТОДИ ІНТЕРНЕТ-ПРОСУВАННЯ НА РИНКУ ДВЕРЕЙ

This article highlights current strategies and effective methods of promoting products in the door market via the Internet in the competitive struggle for sales markets. Analyzing a highly competitive industry, the authors examine various aspects of an effective online presence to increase store traffic and sales. The article focuses on the analysis and comparison of various modern methods of Internet promotion in the context of the door market, with an emphasis on determining the most effective approaches to their application, in particular, such as: social networks, search engine optimization, e-commerce, video marketing, cooperation with influencers, retargeting, content -marketing and adaptive web design. The authors examine each of these methods in detail, evaluating their cost, complexity of setup, and potential effectiveness for different target audiences. Special attention is paid to analyzing the needs of different market segments, such as: young professionals, married couples, older generations, eco-conscious buyers, developers, owners of commercial premises and real estate investors. The article examines exactly how strategies can help increase competitiveness and effectively attract the attention of the target audience. The authors emphasize the importance of a comprehensive approach and individual targeting of each segment, taking into account their unique needs and preferences. The article also includes recommendations for the optimal combination of various Internet marketing methods to maximize the effectiveness of marketing efforts in the door market. Conclusions and proposals are based on a deep analysis of modern trends in digital marketing, as well as on the experience of the author team in this field. The article contains practical recommendations for companies specializing in the sale of doors, which seek to successfully market their products via the Internet. In particular, modern trends and innovative approaches for optimizing electronic business in the field of door production and their implementation are considered. This work can be useful for marketers, door manufacturers, and anyone interested in developing effective Internet marketing strategies in specific markets.

What happens when the disruptive asset meets the conventional asset? An analysis of cryptocurrency and REIT

ABSTRACT This study investigates the symmetric and asymmetric connectedness of recently developed disruptive assets – cryptocurrency and important conventional assets – Real Estate Investment Trusts (REITs) across various time scales and frequencies. We measure the strength and magnitude of returns and volatility spillover between REITs and cryptocurrency using both time series and machine learning approaches. Our findings support the dominance of conventional assets in the correlation with disruptive assets, demonstrated by REITs price movements’ destabilization of the correlation network. Interestingly, this destabilization is concentrated in bear markets, suggesting that while investors trade both cryptocurrencies and REITs in bull markets, investors are likely to hedge their cryptocurrency investments with REITs or avoid cryptocurrencies in bear markets. Our empirical findings provide implications for both asset allocation and policy making.