Evaluation of Commercial Property Market Maturity: A Case of Lithuania

Cohen, Viktorija; Galinienė, Birutė

doi:10.3846/1648715x.2014.925007

Cited by 13 publications

(12 citation statements)

References 22 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…Market maturity frameworks pertaining to real estate have been mainly applied to comparative analysis of commercial space markets. Comparing office markets in European cities Keogh & D'Arcy (1994) arrive at a set of subjectively evaluated criteria, the presence of which indicate market maturity: Existence of a sophisticated profession with its associated institutions and networks Extensive information flow and research activities Flexible market adjustment in both the short and long run Market openness in spatial, functional and sectoral terms Standardisation of property rights and market practice Accommodation of a full range of use and investment objectives Other researchers have applied the Keogh and D'Arcy approach to national commercial property markets using Likert scales and in some cases other variables (Chin & Dent, 2005;Chin et al, 2006;Cohen & Galinien_ e, 2014). The attraction of a purely quantitative approach to establishing the levels of maturity present is that different national markets can be compared and be analyzed over times to map their development.…”

Section: Investment Maturitymentioning

confidence: 99%

Has the revival in the Scottish private rented sector since the millennium achieved maturity?

Farnood

Jones

2021

Housing Studies

View full text Add to dashboard Cite

The paper presents a framework for assessing maturity of the private rented sector (PRS) that is tested by reference to a study of Edinburgh set within a Scottish context. The mature market framework is developed by reference to investment theory and comparison with established PRSs in Europe. The PRS is accepted to a degree by users, the government, the wider community and investors. However, the PRS still lacks complete acceptance among tenants and fiscal changes have reduced its financial attractiveness to landlords. Recent Scottish legislation has brought greater regulation that has favoured tenants. There is also little evidence of acceptance by institutional investors. The study therefore finds the case for maturity is unproven, although some subsectors are more mature than others. From a housing system perspective PRS maturity is a function of how the state frames the interaction between private markets and public provision, particularly in countries like the UK which retain a significant sized social sector.

show abstract

Section: Investment Maturitymentioning

confidence: 99%

Has the revival in the Scottish private rented sector since the millennium achieved maturity?

Farnood

Jones

2021

Housing Studies

View full text Add to dashboard Cite

show abstract

“…Globalisation and risk scrutiny of real estate investment has reinforced the need for research to assess the levels of the property market maturity. Earlier studies that have been carried out on property market maturity include Keogh and D'Arcy, 1994, Armitage, 1996, Lee, 2001, Chin and Dent, 2005Akinbogun, 2012 andThontteh, 2013, Dugeri et al, 2014, Cohen and Galiniene, 2014and Clement et al, 2016.These researchers have established the…”

Section: Vmentioning

confidence: 99%

Integrating the African Real Estate Market – An Agenda: the 18th AfRES Conference

Iwarere¹,

Williams²

2018

View full text Add to dashboard Cite

Purpose -This paper examined stakeholders' perception on the competency attained by real estate graduates in Nigeria.Design/Method/Approach -The study adopted questionnaire survey conducted on 357 and 105 Estate Surveying and Valuation Firms in Lagos and Abuja respectively, representing an approximate 57 percent of the total number of practice firms in Nigeria. The questionnaire solicited information on practitioners' views on competencies, in terms of, knowledge, skills and attributes attained by real estate graduates in the industry. The respondents were asked to rank on a 7-point Likert scale, 24 knowledge areas, 10 skills and 10 attributes identified and conceptualized from literature. Their responses were analysed using frequency distribution and mean rating.Findings -The study revealed that practitioners were positive on their agreement to the graduates' attainment on only three (3) of the twenty four (24) identified knowledge areas, namely real estate agency, property management and property valuation. While ICT, communication, Personal/Professional development and Honesty were the skills and attributes attained respectively. This clearly suggests the need for stakeholders (academics, regulators and practitioners) to take urgent steps to bridge the obvious gap between the knowledge requirements of practitioners and the knowledge attained by graduates in the study area.Practical Implications -The findings of this paper can be used as framework for curriculum development and redesign as well as serve as a guide for real estate continuing professional development plan.Originality -This paper is one of the few that have identified stakeholders' perception on competencies attained by real estate graduates in Nigeria.

show abstract

“…The internationalization of real estate investment has reinforced the need to assess the level of the property market maturity. In quest to provide the information, studies have been carried out on property market maturity such as (Keogh and D'Arcy, 1994; Armitage, 1996; Lee, 2001; Chin and Dent, 2005; Dugeri, 2011; Akinbogun, 2012, 2014; Thontteh, 2013; Cohen and Galiniene, 2014; Clement et al ., 2016; Olapade et al ., 2018; Adebara and Olaleye, 2019). These researchers emphasized the need to establish the status of the property markets' maturity.…”

Section: Introductionmentioning

confidence: 99%

An investigation of factors influencing maturity levels of property market in southwestern Nigeria

Abere

Ogunba

Dugeri

2020

View full text Add to dashboard Cite

PurposeThe study investigated the factors influencing maturity levels in the Nigerian property market particularly southwestern Nigeria in sub-Saharan Africa. There is a need to identify the factors responsible for the less notable progress in the market in order to proffer measures that will enhance the property market or attract both local and international real estate investors.Design/methodology/approachThe method of data analysis adopted is weighted mean scores. The study sampled estate surveyors, public land administrators and financier, which are represented by the commercial bank. The respondents were presented a list of 40 factors and asked to rank them on a seven-point Likert scale. In order to reduce the variables responsible for the maturity levels into a few factors, factor analysis was employed.FindingsThe factors identified by respondents as the most responsible for the maturity levels observed (those with the highest weighted mean score of 6.52, 6.35 and 6.31) include government policy on interest rate, safety of property right/titles and insufficient property market information. Using factor analysis, the variables were further grouped into six factors namely monetary policy, property right registration, property professionalism, investor friendliness, property data and economic factors.Practical implicationsOn the basis of findings, the study recommends that the government should create an enabling environment for prospective investors/or property owners by taking measures that will improve the ease of doing business at same time enhance the foreign real estate investment. The government should pass enabling legislation that will make real estate financing a feature of the capital market. The Central Bank of Nigeria can help in managing the rate of inflation in order to reduce the cost of the construction materials so that average Nigerian can be able to own property asset. Prominent real estate firms should in conjunction with The Nigeria Institution of Estate Surveyors and Valuers develop property data bank on market fundamentals, e.g. rental/capital values, yields, construction cost indices, etc.Originality/valueThe paper provided the information on the factors that will enhance property maturity levels in southwestern Nigeria.

show abstract

Evaluation of Commercial Property Market Maturity: A Case of Lithuania

Cited by 13 publications

References 22 publications

Has the revival in the Scottish private rented sector since the millennium achieved maturity?

Has the revival in the Scottish private rented sector since the millennium achieved maturity?

Integrating the African Real Estate Market – An Agenda: the 18th AfRES Conference

An investigation of factors influencing maturity levels of property market in southwestern Nigeria

Contact Info

Product

Resources

About