ABSTRACT
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.
ABSTRACT
The cruise shipping market has been growing dynamically in the past two decades. This study presented an empirical analysis of the Asian cruise shipping network (ACSN) in which the nodes are cruise ports and links are cruise routes connecting the ports, using complex network analysis. An analysis of 245 voyages operated by 16 cruise lines between 215 ports in 26 countries found that ports in the ACSN are connected by 704 links. The ACSN is a small-world network with a small average path length and a high clustering coefficient, and its degree distribution follows an exponential function. A small number of ports have high connectivity, and most ports have low connections. Most high-degree ports connect to low-degree ports. The important roles and properties of ports vary depending on centrality measures.
ABSTRACT
The property market has experienced a sharp increase in prices recently, which indicates a different nature of the Covid 19 downturn of the economy compared with usual economic crises. This paper identifies key features of the property market which may help understand why the property market performs differently from other markets. A number of factors play an important role in shaping real estate prices, some of which can and cannot be influenced. The quality of the environment is often one of the main important factors, which is also presented by air pollution values. Apart from transport, waste incineration and thermal power plants, the most common causes of air pollution include the mining industry's activities. We aim to explain why property prices do not converge across regions, but prices in expensive regions experience an even stronger price dynamics, a recent phenomenon. We argue that the price dynamics have been predominantly demand-driven in a market with an unelastic and lacking supply of new properties. The real estate market was also significantly affected by the monetary and fiscal policies of individual states. It has been found that money, which has been invested on a large scale in all sectors of the economy in order to limit the negative effects of pandemic measures, has often found its way to investing in assets of all kinds. As a result, real estate prices are rising sharply, especially in richer areas with minimal unemployment. This article aims to offer a deeper insight into the relationship between flats/house prices and variables that proved to be significantly correlated to prices in regional decomposition. Finally, we suggest ways for sustainable future development of the property market. © 2022 by the authors.
ABSTRACT
Real estates are an important aspect of human life, in the area of meeting the basic needs of life as well as in the area of ambition and safe financial investment;especially in uncertain economic and social times. The decision-making process often takes place under conditions of uncertainty related to, among other things, the occurrence of cognitive errors, difficult access to information, and the inconsistent nature of data. The purpose of this research was to answer the question: whether and if so, how the country's unstable economic situation and the COVID-19 pandemic changed the motives and housing preferences of investors on the real estate market. A series of maps were developed comparing real estate transactions to the locations of the precincts with the highest concentration of services. The research addresses residential preferences in terms of quantity, spatial extent, and in relation to social infrastructure. A statistical analysis of concluded transactions with unit prices of real estate was performed. The case study research shows that there is an apparent trend of increasing demand for residential properties away from parts of cities with the highest density of social infrastructure sites in favour of urban edge areas and areas close to green spaces.
ABSTRACT
Race for Profit: How Banks and the Real Estate Industry Undermined Black Homeownership chronicles an often overlooked period in the affordable housing literature to show how the shift from racially exclusive housing policies in the 1940s and 1950s (where it was nearly impossible for Blacks to buy high-appreciating homes using low-cost and low-risk federally insured mortgages) to a regime of more inclusive policies in the late 1960s and 1970s laid the foundation for Blacks to lose massive housing wealth decades later during the 2007–2009 Great Recession. [...]instead of finding ways to increase the supply of public housing, the Department of Housing and Urban Development (HUD) and the Federal Housing Administration (FHA) adopted federal housing policies, which continue to this day, that depend on public-private ventures (like Housing Choice vouchers) to house the poor. [...]the book's greatest contribution to the affordable-housing literature is Taylor's blistering account of Nixon administration decisions that forever ceded control of federal housing policies to private mortgage bankers, real estate agents, home builders, speculators, and appraisers (a cabal I label the real estate industrial complex, or REIC).
ABSTRACT
Over the last two decades, the property bubble and the subsequent economic crisis and post-crisis policies have heightened urban inequalities, mainly in cities in southern Europe. The gaps between social classes have widened with the configuration of new urban spaces characterized by segregation and exclusion. Palma is the capital of one of the top tourist destinations in the Mediterranean (the Balearic Islands) and it is usually regarded as a successful tourism model and a land of opportunity for property investors. Nevertheless, serious problems of inequality exist in the city. The centre of this dual city is split between a process of spreading gentrification and the urban blight of its poor neighbourhoods. Son Gotleu is a particular case in point. The neighbourhood is home to a large number of social housing blocks (1960s) with residents from mostly migrant backgrounds. Within a global context of new redefined rent-seeking mechanisms, this article analysed impoverishment in Son Gotleu, based on three variables associated with housing: evictions, foreclosures and the property market. Our study shows that evictions were a determining feature of impoverishment, linked to the emergence of new speculative investment interests. Indeed, investment funds are very probably the most influential urban agents today.
ABSTRACT
The two biggest stories of 2021 in South Korea were a cutthroat presidential nomination and the nationwide outcry over soaring housing prices. Both the ruling and opposition parties had gone through a noisy and murky nomination process. In 2021, housing prices continued to rise, causing citizens’ anxiety and anger to reach their peak, and the president apologized for the failure of the real estate policy. Despite the maladministration, president Moon Jae-in, unlike previous presidents, did not become a lame duck. Meanwhile, the popularity of Hallyu, or the Korean Wave, continued with the success of the movie Minari, K-pop band BTS, and the Netflix drama series Squid Game.