In the realm of real estate, each property owns a unique set of characteristics that distinguish it from others. While each property has its own distinctive features, the appraisal process prioritises only those qualities that meaningfully affect the value in the given market context. However, in the dynamically evolving market situation, expectations of real estate buyers can also transform. This study aims to explore how the surrounding environment and micro-location aspects affect the property value, which can deliver valuable outcomes for real estate market participants and researchers. For that purpose, the authors selected nine factors, called non-market attributes, that may affect the estimated value: air quality, noise emissions, green areas, rivers and water reservoirs, kindergartens and primary schools, universities, medical facilities, shopping centres and religious buildings. Moreover, apart from non-market attributes, the authors selected six market attributes usually used for the determination of residential real estate values according to the Polish regulations in this field. The detailed analysis of factors influencing the property value has been conducted based on the residential apartments in the district Zwięczyca in Rzeszów. Specifically, with the use of Pearson’s total correlation coefficients, authors explored market and non-market attributes and examined their relationships with unit transaction prices, attempting to answer the research question on whether non-market attributes can differentiate market values of residential apartments, when local real estate markets are considered. The results demonstrate that all selected market factors have a visible effect on analysed real estate prices and might be adopted for appraisal. Among nine non-market factors, only three of them have a pronounced effect on prices and might be used for the valuation of residential properties on the local market. The combined database of market and non-market factors reveals eight attributes (five market and three non-market) affecting prices of residential apartments.
Seasonality has traditionally shaped the U.S. housing market, with activity peaking in spring-summer and declining in autumn-winter. However, recent disruptions, particularly those following COVID-19, raise questions about shifts in these patterns. This study analyzes housing market data (1991–2024) to examine evolving seasonality and regional heterogeneity. Using Housing Price Index (HPI) data, inventory, and sales data from the Federal Housing Finance Agency and U.S. Census Bureau, seasonal components are extracted via the X-13-ARIMA procedure, and statistical tests assess variations across regions. The results confirm seasonal fluctuations in prices and volumes, with recent shifts toward earlier annual peak (March–April) and amplified seasonal effects. Regional variations align with differences in climate and market structure, while prices and sales volumes exhibit in-phase movement, suggesting thick-market momentum behaviour. These findings highlight key implications for policymakers, realtors and investors navigating post-pandemic market dynamics, offering insights into the timing and interpretation of housing market activities.
The tourism sector is significant in emerging nations like Thailand. The cost of lodging is a significant component of practically every trip, thus it is important to consider accommodation development while trying to draw in visitors from other nations. The long-stay tourism industry is crucial since longer visitor stays result in more revenue. Following this, other research on long-term lodging of all forms has been conducted, with an emphasis on both the tourist and real estate sectors. The best tourist option in Thailand is long-term travel. As evidenced by the American, European, and Japanese visitors, the target market is tourists from nations with high costs of living, frigid climates, and aging populations. Therefore, it is anticipated that the tourist demographic will change in future, leading to the emergence of the retirement home niche market as a part of long-stay tourism. The characteristics of long-stay tourism in Thailand are examined in this paper, and we assess the theoretical and conceptual framework as an analysis of Thailand's tourism. Examining the current situation of the Thai long-stay tourist business is the initial and main objective of this study. There is currently no perfect answer, but various alternatives from comparable markets in representative nations have been used as examples to subsequently create tourism accommodation in Thailand for long-stay tourism.
With the lifting of the COVID-19 lockdown, the construction industry is gradually moving towards a new normality. This study aims to evaluate the construction project performance in the post-COVID-19 pandemic context and proposes a roadmap framework to achieve project recovery in China. This paper follows a sequential mixed methodology with three core steps. First, the critical success factors (CSFs) and key performance indicators (KPIs) are derived from literature reviews and expert interviews. Second, the study conducts a questionnaire survey with 150 experts. Third, the research implements factor analysis and analytic hierarchy process (AHP) analysis for CSFs and characteristics and comparative analysis for KPIs. Based on the results, the study employs structural equational modelling (SEM) to connect the CSFs and KPIs and develop a roadmap towards the post-COVID-19 pandemic recovery of the construction projects. The study identifies 32 CSFs and 25 KPIs and categorises them into five clusters, respectively. The SEM analysis suggests that management and technological innovation significantly contribute to achieving enterprise strategic goals and advancing industrial development. The consistency of project goals and external expectations also positively affect the satisfaction level of stakeholders and social impact. In addition, the AHP clarifies that the stability of the external environment, the internal support, and the adequacy of resources are critical drivers to the post-COVID-19 recovery of construction projects. This research proffers a roadmap towards the project recovery of the construction industry in the post-COVID-19 era by connecting the performance indicators and their critical success drivers. The findings would guide comprehensive design and construction, project life cycle management, and assist in dealing with public health emergencies in construction project management to maximise the organisation’s profits and positive social impact.
Satisfactory housing conditions define, in many aspects, people’s comfort and a high standard of living. The psychological and social characteristics of residents strongly determine housing needs and preferences. They also depend on economic, spatial, technical, and cultural factors. The Covid-19 pandemic, which humankind had been experiencing for two years, influenced all spheres of human life, especially inhabitation. The functional program of homes has changed, as well as public spaces, transportation and social ties. While the future is uncertain, the many changes provoked by the pandemic might become irreversible.
Oksana Anatolevna Kurakova, Konstantin Vladimirovich Efimov
В данной статье представлен анализ одного из сегментов рынка объектов индивидуального жилищного строительства. На сегодняшний день рынок объектов ИЖС весьма популярен среди застройщиков. Застройщики заинтересованы в участии в таких проектах на заранее известных правилах, так как это поможет им выйти в новый, еще не до конца сформированный сегмент рынка и занять там лидирующие позиции. Прежде чем планировать реализацию проектов ИЖС необходимо иметь четкое представление о потенциальных потребителях и их предпочтениях. Такое знание поможет выработать застройщику наиболее эффективную стратегию развития своей компании в данном направлении. Для формирования стратегии развития в данном направлении необходимо определиться с целевой аудиторией потребителей, а впоследствии сформировать более четкий портрет индивидуального потребителя. Представленный в статье анализ показал, что для формирования целевых групп потребителей в качестве главного критерия формирования таких групп, необходимо использовать цели конечных потребителей. В данном случае в качестве конечных целей были определены следующие: поездки на выходные, постоянное проживание, дача/летний дом. Для каждой из целевых групп были сформированы характеристики потребителей исходя из их социально-демографических, психографических и поведенческих признаков. Дальнейший анализ был направлен на изучение предпочтений потребителей в рамках каждой из представленных целевых групп. Знание о таких предпочтениях помогает застройщику получать максимальную прибыль с инвестиционных проектов строительства объектов загородной недвижимости за счет создания наиболее востребованного продукта.
Amirhossein Soon, Ali Heidari, Mohammad Khalilzadeh
et al.
International laws and increasing consumer awareness have led to drastic changes in traditional supply chain network designs. Moreover, because of environmental and social requirements, traditional supply chain networks have changed to sustainable supply chain networks. On the other hand, reverse logistics can be effective in terms of environmental and economic aspects, so the design of the supply chain network as a closed loop is necessary. In addition, customers have a demand for different products with different quality levels. Considering different types of customers with a variety of consumption trends can be a challenging issue, and is addressed in this study. The main contributions of this research are considering different quality levels for products as well as different tendencies of customers towards environmental issues. In this study, a sustainable closed-loop supply chain model is designed that seeks to balance economic, environmental, and social responsibilities. In this paper, costs and customer demands for different types of products at different quality levels are considered under uncertain conditions using a robust possibilistic programming method. The proposed multi-objective model is solved using the Augmented Epsilon Constraint (AEC) method that provides an efficient set of solutions for all decision-making levels. The results show that the robust possibilistic programming method is more effective in dealing with uncertainties than the possibilistic programming method.
The aim of this study is to analyze the relationship between the sector of the conducted business and the approach to the ownership and rental of real estate used for business purposes, particularly considering the short-term aspect and space sharing. The research uses data obtained from 102 randomly selected Polish enterprises to explore the relationship between the sector and (1) the preferred legal title to real estate (2) acceptance of short-term rental of real estate and (3) acceptance of space sharing. The relationships in all three areas were found. The sectors of production, hotels and restaurants, construction, and transport lean towards ownership. Enterprises operating in the sector of services and trade prefer rental. The sectors of production, hotels and restaurants and transport are skeptical about short-term rental. Services and trade and construction are open to such rental. The sectors of production and hotels and restaurants are skeptical about space sharing. Transport, trade, and construction are clearly open to such an opportunity. The research limitations are as follows: the research is limited to Polish randomly selected enterprises only, and the results cannot be generalized. The originality/value of this paper is revealed in the fact that this paper outlines a short-term rental and ownership perception from an entrepreneurial-managerial view. The novelty of the presented results consists in filling the gap by conducting the research considering the specification of rental and its narrowing down to a short period and space sharing in the context of the sector.
Machine design and drawing, Engineering machinery, tools, and implements
Francesca Ciampa, Giorgio Croatto, Massimo Rossetti
et al.
Within the framework of the research and innovation strategy RIS3 “Sustainable Living” (POR-FSE, funded by the Veneto Region), for the improvement of the resilience and adaptation capacity of the Veneto territory to environmental crises and emergencies, the subject of the contribution returns the results of the participatory experimentation of the project H.E.L.P. Veneto ‘ High-efficiency Emergency Living Prototypes Veneto – Sustainable adaptive residences for temporary stay in environmental emergencies. The research concerns the design of a minimum flexible emergency living module, replicable on a large scale, multifunctional, sustainable, powered by off-grid systems and integrated into the built environment. The housing unit uses timber, a material linked to the local building tradition, whose prefabricated modular reversibility follows principles of circular reuse. Moreover, the constructive adaptability of the interior spaces is reflected in a “liquid space” capable of transforming itself according to the needs of the occupants. The paper introduces a form of participatory design of the emergency housing module, based on the engagement of small and large companies, related to different segments of the construction market, a leading sector in the economy of Veneto. The participatory approach borrows from Architectural Technology the tools needed to understand the characteristics of the settlement system, the potential of the project and the value of scientific stakeholder engagement in the process. Using the Soft System Methodology, direct investigation protocols have been constructed relating to the performance of the living unit. Using Strategic Options Development and Analysis (SODA), the results of the experimented survey (large-scale questionnaires) were decoded, interpreted and systematised. The processing of the answers allowed the stakeholders to validate the potential of the proposed module and, at the same time, to be informed about its characteristics. The innovation of the method lies precisely in the modelling phase, which makes it possible to integrate the results of the hard and soft data analyses and to make it clear how participation plays an essential role in the process of designing and validating the proposed module.
Nell’ambito della strategia di ricerca e innovazione RIS3 “Sustainable Living” (POR-FSE, finanziato dalla regione Veneto), per il miglioramento della capacità di resistenza e di adattamento del territorio veneto a crisi ed emergenze ambientali, l’oggetto del contributo restituisce gli esiti della sperimentazione partecipata del progetto H.E.L.P. Veneto High efficiency Emergency Living Proto- types Veneto – Residenze adattive sostenibili per la permanenza temporanea in regime di emergenza ambientale. La sperimentazione riguarda la progettazione di un modulo minimo abitativo di emergenza flessibile, repli- cabile a larga scala, polifunzionale, sostenibile con impianti a funzionamento off-grid e integrato nell’ambiente costruito. L’unità abitativa utilizza il legno, materiale legato alla tradizione costruttiva locale, la cui reversibilità modulare prefabbricata segue principi di riuso circolare. Inoltre, l’adattabilità costruttiva degli ambienti interni si riflette in uno “spazio liquido” capace di trasformarsi in base alle esigenze dell’abitare. Il contributo propone una forma di progettazione partecipata del modulo abitativo emergenziale, basata sull’engagement delle realtà aziendali di piccole e grandi dimensioni, relative ai diversi segmenti di mercato dell’edilizia, settore trainante della regione Veneto. L’approccio partecipativo mutua dalla Tecnologia dell’Architettura gli strumenti di conoscenza atti alla comprensione delle caratteristiche del sistema insediativo, delle potenzialità del progetto e del valore dell’engagement scientifico degli stakeholder nel processo. Utilizzando la Soft System Methodology sono stati costruiti dei protocolli di indagine diretta che combinano la conoscenza prestazionale dei processi insediativi nell’unità ambientale. Mediante la Strategic Options Development and Analysis (SODA) sono stati decodificati, interpretati e sistematizzati i risultati della survey sperimentata (questionari ad ampia scala). L’elaborazione delle risposte ha fatto sì che il sapere esperto degli stakeholder validasse le potenzialità del modulo proposto informandosi, al contempo, sulle caratteristiche dello stesso. L’innovazione del metodo risiede proprio nella fase di modellazione, la quale permette di integrare i risultati delle analisi dei dati hard e quelle dei dati soft, e di rendere chiaro come la partecipazione svolga un ruolo essenziale nel processo di animazione e validazione del modulo proposto.
The Turkish Housing Market has experienced a steep increase in prices. Individual and corporate investors now possess tools to estimate the real estate evaluation while using smaller amounts of data with traditional techniques. Not having an analytical approach to evaluate the price of real estate could cause the investor to lose considerable amounts of money, especially in the case of individual investors. This study aims to determine how different machine learning algorithms with real market data can improve this process.
Mohammad Javad Bidel, Hossein Safari, Hannan Amoozad Mahdiraji
et al.
One of the essential factors of project success is selecting the proper delivery method. This study aimed to provide a new hybrid decision-making framework to assist project stakeholders in evaluating and selecting the most appropriate Project Delivery System (PDS) and documenting the decision process. For this purpose, the selection factors of PDSs were obtained from a literature review, and critical selection factors were screened based on the fuzzy Delphi method, whereby expert feedback was on Information and Communication Technology (ICT) projects was obtained. Subsequently, the ICT project risks were identified and categorized into six competitive constraints, including time, cost, quality, reputation, value, and scope, and the risk factors were prioritized in each area. Then, the effect of project risks on the decision criteria was investigated using a fuzzy cognitive map (FCM). Finally, the PDSs were ranked through Fuzzy Technique for Order of Preference by Similarity to Ideal Solution (FTOPSIS). This article researched a novel multi-layer decision system combining the FCM and FTOPSIS techniques. The decision criteria received their weights from the evaluation of the causal relationships between PDS selection factors and project risks. Thus, PDSs were ranked based on different project characteristics, the opinions of stakeholders, and the effect of project risks on the decision-making process; this increased the likelihood of project success. The results showed that the impact of the most critical project risks on the selection factors was so severe that they changed the weight of the criteria in the decision matrix and, subsequently, changed the ranking of decision options.
Objectives To estimate age-specific and sex-specific mortality risk among all SARS-CoV-2 infections in four settings in India, a major lower-middle-income country and to compare age trends in mortality with similar estimates in high-income countries.Design Cross-sectional study.Setting India, multiple regions representing combined population >150 million.Participants Aggregate infection counts were drawn from four large population-representative prevalence/seroprevalence surveys. Data on corresponding number of deaths were drawn from official government reports of confirmed SARS-CoV-2 deaths.Primary and secondary outcome measures The primary outcome was age-specific and sex-specific infection fatality rate (IFR), estimated as the number of confirmed deaths per infection. The secondary outcome was the slope of the IFR-by-age function, representing increased risk associated with age.Results Among males aged 50–89, measured IFR was 0.12% in Karnataka (95% CI 0.09% to 0.15%), 0.42% in Tamil Nadu (95% CI 0.39% to 0.45%), 0.53% in Mumbai (95% CI 0.52% to 0.54%) and an imprecise 5.64% (95% CI 0% to 11.16%) among migrants returning to Bihar. Estimated IFR was approximately twice as high for males as for females, heterogeneous across contexts and rose less dramatically at older ages compared with similar studies in high-income countries.Conclusions Estimated age-specific IFRs during the first wave varied substantially across India. While estimated IFRs in Mumbai, Karnataka and Tamil Nadu were considerably lower than comparable estimates from high-income countries, adjustment for under-reporting based on crude estimates of excess mortality puts them almost exactly equal with higher-income country benchmarks. In a marginalised migrant population, estimated IFRs were much higher than in other contexts around the world. Estimated IFRs suggest that the elderly in India are at an advantage relative to peers in high-income countries. Our findings suggest that the standard estimation approach may substantially underestimate IFR in low-income settings due to under-reporting of COVID-19 deaths, and that COVID-19 IFRs may be similar in low-income and high-income settings.
Public–private partnerships (PPPs) are a useful approach that allows the public sector to collaborate with private investors in financing, implementing, and operating public sector facilities. Over the past few decades, the occurrence of social risks and the vulnerability of PPP projects to these risks have caused numerous project failures. While practitioners claim to manage the social risks of PPP projects, little effort has been made to explore the proper ways of doing this. In this study, we present a social risk tolerance (SRT) concept and propose a model to quantify the tolerance of PPP projects to social risks. One hundred and twenty-three PPP projects were collected from China for model validation. The results indicate a positive relationship between SRT values and project size and that the SRT has diminishing marginal values. This paper presents a new concept in PPP research and provides an appropriate approach for managing the social risks of PPP projects. The research findings can help both the public and private sectors understand the social risks associated with PPP projects and determine effective countermeasures to control these risks.
Of recent, the need to increase the performance of services installations in buildings has been a major point of interest amongst construction professionals through the consideration of commissioning practices required to be adopted during execution of building projects. The aim of the study is to investigate awareness of building professionals on the adoption of building commissioning practices in the installation and use of building services equipment. The study therefore examines the characteristics of building commissioning practices, examines the level of awareness and adoption of building commissioning practices amongst construction professionals in Lagos State, Nigeria, as well as investigates the factors influencing their adoption. A survey method of research was employed with questionnaire administered on construction professionals available on the list of firms of the Federation of Construction Industry (FOCI) registered with the Lagos State Government. The data collected were analysed with the use of statistical tools, such as frequency distribution, mean item score, analysis of variance and factor analysis. The study shows that amongst the characteristics of building commissioning practices, lighting services have the highest level of engagement with a mean score of 4.45, heating, ventilation and air-conditioning 4.15 while vertical transporting services have a mean score of 3.82. A significant proportion of the respondents are aware of building commissioning practices through different professional training courses and practices. The study also shows that there is relationship between the level of awareness and adoption of building commissioning practices at 95 % confidence level. The indicators in group one are found through the factor analysis to be contributing mostly to the adoption of building commissioning practices by the respondents. The study concludes that with the existing level of its awareness in the study area, efforts should be made by stakeholders to entrench building commissioning practices provisions in the country’s institutional framework/regulatory code, which covers the installation and use of service items in building stock so as to further deepen their adoption in order to enhance performance and comfort of building projects.
Real estate business, Regional economics. Space in economics
The creation of positive synergy in managing land-related resources if exploring the territorial capabilities, threats and opportunities, e.g. the effects of urban expansion, multi-functionality of land use, internalisation of negative externalities and challenges of a city agglomeration, causes primary necessity for the modern society. The study is concerned with the conceptual background and feasibility aspects of values-led planning (VLP) approach to be introduced into land management practice by capitalising first of all on comparative analysis of dynamic spatial planning systems and planning cultures. Finally, it is argued that the implementation of new planning approach within proposed framework would lead towards improved land use policies and better territorial governance, developing more inclusive and resilient territories for the benefit of a society.
Real estate business, Regional economics. Space in economics
The decisions of buyers on the housing market are not only the sum of their subjective expectations but also of the perception of real estate through a prism of opinions and suggestions arising from the surroundings. One of the basic criteria driving households determined to meet basic housing needs is security. The aim of the study is to identify the relationship between the transaction prices of housing and the crime rate in the various districts of Szczecin. For this purpose, data from the Regional Police Headquarters in Szczecin (i.e. map of crimes) and transactional data from notarial acts are analyzed in the work. Then, using statistical and econometric models, spatial relationships of the examined crimes are investigated.