Abstract:Housing is one of the most important public priorities affecting urban development and therefore has a significant impact on sustainable development. A housing project can be regarded as sustainable only when all the dimensions of sustainability (environmental, economic, and social) are dealt with. The aim of the present article is to propose an integrated, hierarchy-based, multiple-criteria approach for the sustainability assessment of new residential development projects, which is achieved through the accomplishment of three objectives. First, this paper proposes an original framework for a multiple-criteria assessment of new residential projects. Second, the proposed methodology is demonstrated in the assessment of nine residential development projects in Lithuania, Latvia, and Estonia according to a hierarchical system of 53 sustainability indicators developed specifically for the Baltic context. Finally, based on the research results, the paper proposes recommendations to stakeholders for enhancing the performance of new residential projects according to the principles of sustainability. The proposed sustainability assessment approach is not limited to the Baltic States and can also be used in other countries, applying the adapted sustainability assessment indicators.
The development of the real estate market contributes to the development of the national economy, thus creating a favourable investment climate for the investors. Increase in the level of the incomes of the inhabitants may increase the availability of housing in the country by fiscal and monetary policy instruments. The topicality of the paper is related to the need for analysis of the trends and prospects of the real estate market development of the Baltic States, as it has a high social meaning and has a high importance for market participants. The objective of the research is to analyse influencing factors and tendencies of real estate market development in Baltic States, and includes a comparative analysis of the residential property market in the Baltic States is conducted. The research methods used in the paper are statistical data analysis, historical and logical approach methods. The article focuses mainly on the housing market. It was concluded in the study that under the similar geographic and economic conditions in the Baltic States, the housing affordability index and real estate market development tendencies have many differences and success indicators are still varying.
This article in general reflects the significance of socio-economic factors and the real estate market in sustainable urban development. The relevance of the research is being determined by the high ratio of the real estate market and construction industry in Latvian and Baltic economic structure, as well as well as their major impact on the state socio-economic status. The objective of the research is to identify the major problems existing in the sustainable development of real estate industry for improvement of the situation. The particular attention will be paid to the problems of socio-economic aspects and related macroeconomic indicators. On the basis of the results of the research the proposals for advancement of sustainable and competitive development are prepared. The subject of the research is an interaction of socio-economic factors and real estate market over the period from 2009 to 2013.The article reflects the impact of Latvian national economy and real estate market on the sustainable urban development, as well as the main trends in the real estate market and the socio-economic sphere of the country, in the overall context of the development of the Baltic States. The role of the state is reflected in the socio-economic processes regulation, interaction of the economy and real estate market development, factors influencing the house building, the main challenges and directions of Latvian sustainable development strategies, as well as the correlation of some macroeconomic indicators in terms of sustainable development. On the basis of the conducted study, the main trends in the sustainable development of the real estate market and in the socio-economic sphere have been defined, as well as recommendations on improvement of the situation in the longer term and preventive measures have been developed. The historical, logical, analytical and comparative methods have been used in the article.
scite is a Brooklyn-based organization that helps researchers better discover and understand research articles through Smart Citations–citations that display the context of the citation and describe whether the article provides supporting or contrasting evidence. scite is used by students and researchers from around the world and is funded in part by the National Science Foundation and the National Institute on Drug Abuse of the National Institutes of Health.
hi@scite.ai
10624 S. Eastern Ave., Ste. A-614
Henderson, NV 89052, USA
Copyright © 2024 scite LLC. All rights reserved.
Made with 💙 for researchers
Part of the Research Solutions Family.