This study examined whether a feed-forward learning intervention and assessment activity improved student self-efficacy in undergraduate and postgraduate real estate development subjects. Self-efficacy is pivotal when learners must integrate quantitative analysis with judgment under uncertainty, yet little is known about how pre-task guidance cultivates this confidence in real estate education and other data-rich programs. Given the complexity of development feasibility analysis, students—especially those without industry experience—often feel overwhelmed. Because no instrument specifically measured self-efficacy in real estate development, we adapted and piloted an existing tool with 36 students, yielding a two-construct measure. We then implemented a pre–post design with 47 students to test the effect of the assessment design and feed-forward on specific and general self-efficacy. Results indicated significant gains, with effect sizes ranging from d = 1.19 for postgraduate students to d = 1.73 for undergraduate students. Students with limited professional experience benefited most, with significant gains among those with two or fewer years of experience. The findings underscore the importance of targeted interventions for complex academic tasks and position real estate classrooms as productive laboratories for advancing feed-forward research.
Oksana Anatolevna Kurakova, Vladimir Mikhailovich Minin
В статье представлен глубокий анализ интеграции социальной и транспортной инфраструктуры в жилищном строительстве с использованием Республики Тыва в качестве примера. Уникальные географические и социально-экономические условия региона требуют тщательной оценки современных стратегий планирования и реализации инфраструктуры для удаленных территорий России. В исследовании рассматриваются современные проблемы и барьеры, связанные с улучшением доступа к социальным услугам, обеспечением качественного обслуживания, установлением транспортной связи и содействием устойчивому региональному развитию. Особое внимание уделяется инновационным моделям и методологиям, которые способствуют эффективному функционированию различных типов инфраструктуры в текущих условиях.
В статье анализируются успешные проекты и инициативы, реализованные в Туве, с оценкой их воздействия на уровень жизни и развитие жилищного строительства. Рассматриваются ключевые факторы, способствующие эффективной интеграции инфраструктуры, такие как финансовые механизмы, участие частных инвесторов и партнерства с местными органами власти. Особое внимание уделено экологической устойчивости и ответственному управлению природными ресурсами в процессе развития как транспортной, так и социальной инфраструктуры. В дополнение исследуются методы оптимизации логистических процессов и стратегического планирования расположения социальных объектов с целью улучшения доступности для различных групп населения.
Дается комплекс рекомендаций для улучшения интеграции инфраструктуры и процессов планирования, направленных на более эффективное использование ресурсов и повышение ключевых социальных и экономических показателей на региональном уровне. Результаты данного исследования будут полезны для специалистов в области градостроительства и регионального планирования, управления инфраструктурными проектами в удаленных районах, а также для государственных органов, ответственных за разработку стратегий территориального развития.
This paper presents an adjustment of the classical DPW model, which includes two different interest rates and the secondary market in the commercial property market. Separating the mortgage rate from the discount rate helps to understand why not all investments which seem to be profitable are carried out. If the discount rate is much higher than the mortgage rate, the risk will prevent investors from entering this investment. In the longer run, the stock will depreciate, and the equilibrium amount of commercial space will decline. The other important point is the consideration of the secondary market, through which investors exit the market when profitability declines. Also the inclusion of a demand curve in the primary market and accounting for the fact that developers in the CRE market are mainly price or cost takers helps to understand our observations what we observe in the real world, much better.
Natalya Yurevna Yaskova, Vladimir Sergeyevich Shamshin
Создание сетевой структуры стратегий развития в масштабе страны с соответствующим проектным наполнением безальтернативно потребует изменения инвестиционного ландшафта. Его культурологическая и общественно-политическая трактовка позволяет рассматривать его как структурированную сообразно составу проектного портфеля развития совокупность инвестиционных технологий. Стратегическая цель создания нового инвестиционного ландшафта в контексте городского развития заключается в обеспечении необходимого и достаточного, а также сбалансированного объема финансирования проектного портфеля, обеспечивающего ускоренный выход на траекторию самодостаточного устойчивого инновационного городского развития в едином пространстве современной России.
Анализ современного инвестиционного ландшафта городского развития показал: доминирование технологий освоения государственных капитальных вложений; последовательно расширяющееся участие Институтов развития, касающееся создания и использования фондовых технологий; возврат на новой технологической основе к механизмам государственно-частного партнерства, паевым технологиям и др.; возникновение технологий микрофинансирования; использование технологий информационного моделирования всех составляющих инвестиционного ландшафта и др.
Цели городского развития предопределяют необходимость формирования проектного портфеля, включающего как крупномасштабные отраслевые/межотраслевые, региональные/межрегиональные, а также международные проекты, так и локальные проекты различного типа. Соответственно инвестиционный ландшафт должен иметь возможность покрытия инвестиционными ресурсами всего проектного пространства. Обсуждение перспектив развития инвестиционных технологий выявило ряд преимуществ таких новых для российской практики технологий, как технологии промышленной реновации, позволяющие освободить городское пространство от аварийных промышленных объектов, а также технологии промышленной ипотеки, открывающие возможность кредитования под залог обновляемой недвижимости промышленного типа. Также выявлен потенциал технологий микрофинансирования, не требующих бюджетной поддержки и масштабируемых с использованием потенциала информационных технологий.
Резюмируя результаты исследования инвестиционного ландшафта, отметим, что в контексте городского развития требуют дальнейшего развития такие технологии, как государственно-частное партнерство, в особенности в целях модернизации жилищно-коммунальной инфраструктуры, паевые технологии применительно к созданию и модернизации недвижимости коммерческого назначения, технологии промышленной реновации, а также микрофинансирование по всему спектру создания комфортной городской среды.
Hełdak Maria, Stacherzak Agnieszka, Przybyła Katarzyna
et al.
The study addresses the problem of diverse housing conditions experienced by seniors in Poland and equipping their apartments with installations improving the quality of life for people with reduced mobility, taking into account various forms of residential premises ownership: a condominium, a cooperative apartment and a council flat. The study aimed at providing answers to a number of questions, including: what is the readiness to change an apartment into a council flat adapted to the needs of people with mobility limitations, taking into account the current ownership status of the apartment (condominium, cooperative member’s ownership right to residential premises, the right to rent a flat from the council-owned housing resources).
Neutrosophic sets provide greater versatility in dealing with a variety of uncertainties, including independent, partially independent, and entirely dependent scenarios, which q-ROF soft sets cannot handle. Indeterminacy, on the other hand, is ignored completely or partially by q-ROF soft sets. To address this issue, this study offers a unique novel concept as known as q-RONSS, which combines neutrosophic set with q-ROF soft set. This technique addresses vagueness using a set of truth, indeterminacy, and false membership degrees associated with the parametrization tool, with the condition that the sum of the qth power of the truth, indeterminacy, and false membership degrees be less than or equal to one. In addition, this study outlines operational laws for the suggested structure. The main purpose this article is to define some averaging and geometric operators based on the q-rung orthopair neutrosophic soft set. Furthermore, this article provides a step-by-step method and a mathematical model for the suggested techniques. To solve a MADM issue, this research article proposes a numerical example of people selection for a specific position in a real estate business based on a variety of criteria. Finally, to demonstrate the proposed model's superiority and authenticity, this article performs several analyses, including sensitivity analysis, to address the reliability and influence of various parameter ''q'' values on the alternatives and the ultimate ranking outcomes using the averaging and geometric operators. A comparison of the proposed operators to current operators demonstrates the validity of the proposed structure. Furthermore, a comparison of the proposed structure to current theories demonstrates its superiority by overcoming their limits and offering a more flexible and adaptable framework. Finally, this study reviews the findings and consequences of our research.
As trade and economic activities expand and spread in this era, the brokerage contract plays an important role in wealth trading and the exchange of goods and services in various trade, industrial, and other fields. A professional acquires the status of a merchant for this work, whether a natural person or a legal entity. The need for brokers and intermediaries continues to increase constantly due to their skills and expertise in bridging views and narrowing the gap between contractors, facilitating the conclusion of transactions. This underscores the impact of the broker's role on commercial and economic life and the necessity to develop laws governing their business, especially given the ambiguity in regulating this topic. From this perspective, the present research examines the broker's role and responsibility by adopting a comparative and analytical descriptive approach. The research is structured into three chapters, aiming to investigate the broker's role and responsibility in performing the functions of the brokerage contract, preserving documents, ensuring implementation, and refraining from prohibited practices. The goal is to draw the most important findings and recommendations, which include recommending the standardization of brokering and real estate brokering procedures, harmonization between the business transaction system project and the real estate brokerage system, recommending the establishment of a private center for trade brokerage with independence and legal person status, and suggesting the addition of some important provisions.
The paper points out that in order to increase the level of residential safety and energy consumption, as well as for further development of multi-storey construction it is necessary to introduce new innovative technologies in the lift industry. The paper studies the organizational and economic mechanisms by which the replacement of lifts used up their service life to modern, i.e. complying with the requirements of TR TS 011/2011 energy-efficient lifts in the existing building. Notes the use of administrative method for this, i.e., prohibition of operation of lifts that do not meet the standards of TR TS 011/2011 after 25.02.25 year. This measure stimulates the collection of funds from the owners of premises in apartment buildings and provides assistance of the Government of the Russian Federation and the regions to provide deferral of payments for the installed lift and payment of interest on the loan for the purchase of domestic innovative equipment in the period until the crisis of 2022. As a result of these measures in the 1st quarter of 2023 there was a significant increase in production of domestic modern lifts compared to the same period of 2022. It is noted that the supply of lift equipment under the new economic mechanism in the crisis, i.e. with 50 % payment and 50 % interest-free installment payment for 5 years, which increased in 2023 the purchase of lift equipment for replacement in apartment buildings. The paper has suggestions for the development of the domestic lift industry to include in the development of lift construction financing through a programme of “green bonds”, which is a debt financial instrument to raise funds for the environmental project; in addition, to introduce advanced innovative technologies in the domestic lift industry to conclude an offset deal with the leading lift manufacturer.
Isabella M. Lami, Elena Todella, Alessandro Armando
et al.
Sustainable and resilient urban regeneration encompasses the transformation of areas or buildings and their neighbourhoods, involving issues with recognised environmental, economic and social implications. In particular, cities can support the creation of new and multiple values through the transformation of the built environment, having a high concentration of capital and resources distributed over a limited territory. This paper analyses the role that design can play in pursuing sustainable cities, focusing the discussion on how to promote urban regeneration paths through urban, architectural and landscape projects. The transformation of the Municipality of Kisela Voda in Skopje, the capital of North Macedonia, is proposed as a case study, as an ongoing transformation process object of a recently concluded competition for the sustainable urbanization of the neighbourhood. The analysis is conducted through a series of district plans and projects developed within the framework of the “Architecture and Urban Space” master’s degree course at Politecnico di Torino, focusing on a threefold performativity of the projects, which act through: (i) mapping, with a recomposition of the conditions of “engagement”; (ii) explicating, through the sharing of the implications of value creation; (iii) translating, with facilitation of relations between actors.
Krasnova Iryna V., Prymostka Liudmyla O., Stepanets Viktoria S.
et al.
The aim of the article is to identify problematic issues of valuation of property (assets) of banks that are in the process of liquidation, and substantiate proposals for the desired solution, taking into account the need to protect the rights of bank creditors. Although the bankruptcy of banks causes significant economic and moral losses, the processes of removing insolvent banks from the market, their reorganization or liquidation are constantly taking place. Therefore, regulators and banks that have been declared insolvent face many questions, including the adequate valuation of banking assets and the determination of the liquidation estate. The article discusses approaches to asset valuation and features of their application in Ukrainian practice, as well as peculiarities of the sale of assets of banks in liquidation according to the Dutch auction model. It is noted that the imperfection of management of banks’ assets in the process of their functioning leads to discrepancies in the valuation of these low-quality assets in the liquidation procedure. It is determined that the ratio between the estimated value of assets and their book value for banks declared insolvent is on average 26.2 %, and the median value is 22.3 % This leads to a number of problems, including the inability of the Deposit Guarantee Fund (DGF) to ensure the repayment of part of the bank’s liabilities, which could be repaid in case of timely acceptance of tender offers at market value. It is noted that the most liquid assets, which are real estate and property, occupy an insignificant share in the structure of the liquidation mass – about 5 %, and the conversion rate in the sale of real estate quite often reaches 200 %. It is proposed, in accordance with European practice, to empower the Fund to monitor the assets of banks in the process of their functioning. The expediency of valuating assets not from the position of doing business «as usual» but from the point of view of the objective need to sell assets, focusing on the quick sale of assets at a market price, is emphasized. In order to improve the process of valuating the assets of an insolvent bank and focusing on the quick and transparent sale of the bank’s assets, it is proposed to implement the international experience of using loss-sharing agreements into domestic practice.
This paper provides a scoping literature review of research methods that seek to measure individual productivity and organisational performance in office buildings containing enhanced green building features and initiatives that focus on Indoor Environmental Quality (IEQ).
The paper follows the Preferred Reporting Items for Systematic Reviews and Meta-Analysis (PRISMA) framework and includes thirty-nine academic papers for the period 2000 to 2020. Different research instruments are discussed, including post-occupancy evaluations (POE), longitudinal surveys, and interviews. Furthermore, a narrative focuses on specific measures, including location, amenities, comfort, engagement, individual productivity, and organisational performance. This provides insight into common research approaches and highlights where lesser used research approaches could be applied in the field of green building features and initiatives (GBFIs), including the assessment of individual productivity and organisational performance. Key findings highlight that individual productivity was measured via self-assessment in previous research. At the same time, there has been no research that has successfully measured organisational performance within the context of GBFIs. Gaps have been identified in the literature concerning the relationship between knowledge-based building occupants and measuring/monetising the implementation of GBFIs. Implications of this research indicate that there are common approaches that highlight both strengths and, more importantly, weaknesses concerning linking GBFIs to individual productivity and organisational performance. Addressing weaknesses that predominantly encompass measuring organisational performance creates the opportunity for future research in this field.
Purpose: The arrival of new companies that are more technological and scalable to the real estate sector has caused a revolution in a very conservative and not very innovative industry. The main objective of this research is to characterize the business model of proptech online brokerage companies in home sales in Spain, based on the traditional agency model.
Design/methodology: Nine semi-structured interviews were conducted with the CEOs and managers of six proptech online real estate brokerage agencies in Spain. Their content was analyzed by means of the study and comparison of common patterns.
Findings: During the digitalization process of the brokerage, a regression was detected back to more classic procedures typically found in traditional agencies, thus establishing an important difference as compared to other more transparent markets. Accordingly, a convergence occurs between the different real estate brokerage models (online and traditional), resulting in a hybrid model.
Research limitations: The limited number of agencies that operate in the online mode in Spain makes the sample size quite small.
Practical implications: The results contribute greater transparency to a traditional sector characterized by its opacity, and they give visibility to the changes that are currently taking place, facilitating information to both professionals and users.
Social implications: It contributes to the fulfillment of Sustainable Development Goal number 9, concerning the promotion of development-oriented policies that support the creation of decent jobs, entrepreneurship, creativity and innovation.
Originality/value: It expands the scientific literature dedicated to online real estate brokerage in Spain, given that as of today, we have no knowledge of any other published academic work on this topic. The research contributes to the vision that new sector agents have of it and those changes that are occurring within it.
Ieva Cataldo, Audrius Banaitis, Ashutosh Samadhiya
et al.
Although the importance of supply chain management in the construction sector has been recognized in recent years, its implementation still faces significant challenges. For the long-term evaluation of this creative sector, numerous intricate sustainability components, such as environmental, social, and financial, are necessary. The study focuses on longterm sustainability considerations in the supply chain in the construction sector. This work aims to address this information and examine sustainable supply chain management (SSCM) research in the construction sector in this manner. More than 95 publications were studied from the beginning of 2017 to the end of 2021 using both in-depth content analysis and bibliometric methodologies. Several issues of SSCM in construction have been found including environmental, economic and social patterns which are most commonly known as the triple bottom line, typically enhanced by artificial intelligence. Many challenges were discovered including inefficiencies in the logistics system and a shortage of funding, environmental issues in demolition procedures and difficulties in applying sustainability measures due to high skill, data, and time requirements. The article offers a broad list of potentials for improving the current situation in the construction sector by using various types of supply chains such as increasing investment in energy conservation and emission reduction technologies to drive sustainable development, establishing strong green supply chain relationships, and forming a Covid-19 financial support group for small construction companies among other things. The study’s findings suggested that due to the significance of long-term relationships between construction companies, suppliers and customers, smart technology could make it simpler to reach every supply chain link. After an exhaustive literature review 59 research questions were formulated for the future research. In the future, the importance of these questions could be determined using expert questionnaires and multi-criteria evaluation.
What-if analysis (WIA) is essential for data-driven decision-making, allowing users to assess how changes in variables impact outcomes and explore alternative scenarios. Existing WIA research primarily supports the workflows of data scientists and analysts, and largely overlooks business professionals who engage in WIA through non-technical means. To bridge this gap, we conduct a two-part user study with 22 business professionals across marketing, sales, product, and operations roles. The first study examines their existing WIA practices, tools, and challenges. Findings reveal that business professionals perform many WIA techniques independently using rudimentary tools due to various constraints. We then implement representative WIA techniques in a visual analytics prototype and use it as a probe to conduct a follow-up study evaluating business professionals' practical use of the techniques. Results show that these techniques improve decision-making efficiency and confidence while underscoring the need for better data preparation, risk assessment, and domain knowledge integration support. Finally, we offer design recommendations to enhance future business analytics systems.
Xiliang Zhu, David Rossouw, Shayna Gardiner
et al.
Pre-trained contextualized embedding models such as BERT are a standard building block in many natural language processing systems. We demonstrate that the sentence-level representations produced by some off-the-shelf contextualized embedding models have a narrow distribution in the embedding space, and thus perform poorly for the task of identifying semantically similar questions in real-world English business conversations. We describe a method that uses appropriately tuned representations and a small set of exemplars to group questions of interest to business users in a visualization that can be used for data exploration or employee coaching.
The world economy seems to be experiencing one of the most severe downturns in recent memory. The latest pandemic has had a detrimental effect on the economies of several nations, including India. The International Monetary Fund forecast India’s growth rate at 1.9 % for fiscal year 2021, down from 5.8 % previously. This poses a significant challenge to the Indian economy. The resumption of work was complicated by the workers’ surprising return to the employers from underground. Developers struggled to locate enough job-creating jobs due to the labour market severe constraints. The populace is burdened by the great pestilence that threatens the nation. Indian real estate, which was still emerging from the implications of demonetization (November 2016) and other changes, was jolted by this pandemic, with building development halted and real estate transactions paused. Indian real estate should plan itself for a post-COVID-19 environment and be prepared to take several new and technology-driven moves to get back on track. The secondary data research methodology is used in this paper and the aim of the research is to discuss the pre-pandemic real estate market and the effect of COVID-19 on the Indian real estate market. Additionally, it discusses the risks and prospects confronting various real estate industry participants.
Real estate business, Regional economics. Space in economics
A significant body of literature has examined the location decision-making of creative industry firms. However, research on the nexus between design creative industries and the built environment remains limited. The key finding of this qualitative research is that design creative industries are mostly the users of the inner city's former industrial buildings that are occupied on leases from property owners who are responsible for the initial physical upgrading. This condition is largely due to the low level of property ownership among this group and the lack of incentive to invest additional capital to their business properties. Therefore, design creative industries cannot be conceptualized as leading actors in urban redevelopment or initiators of urban transformation on a large scale. Instead, they represent a latent demand for physical space and a rich source of inspiration and creative potential. In this regard, design creative industries play a key role as enablers of postindustrial real estate development driven by proactive property developers who transform former industrial buildings into a new form of revenue-generating urban commodities. Keywords: Creative industries, Property developers, Urban transformation, Built form, Heritage buildings
Driverless vehicles (DVs) will attain substantial traction in the next 10-20 years and will affect commuting patterns and demand for parking. We study the potential correlation between DV adoption and urban sprawl. There are two primary and counteracting effects: DVs may induce more sprawl by providing a desirable commute from the suburbs; or, DVs may lessen urban sprawl by inducing the redevelopment of underutilized urban parking, thus revitalizing commercial areas. We develop sprawl indicators, and rank 15 representative U.S. metro areas. The factors include commuting time, population growth, existing urban density, state government regulation of DVs, urban walkability score, existing sprawl, and presence of parking spaces. We then rank the same metro areas on likely DV adoption. We adopt CoStar 20-year growth forecasts, assume localized FARs, and score each metro’s ability to satisfy development land with redundant parking. We conclude that Detroit, San Diego, Houston, Pittsburgh, and Sacramento would have the easiest economic path to controlling and reversing urban sprawl, while Raleigh, Washington, D.C., Boston, Phoenix, and Portland would have the hardest path under the assumed growth conditions. Central cities need to prepare metro-wide parking redevelopment infill policies or face the prospect of continued sprawl.