Exploring the Knowledge Structure and Development of ESG in Real Estate: A Bibliometric Approach

ESG, which denotes Environmental, Social, and Governance, constitutes a vital factor that affects the business operations and outcomes of various sectors and industries across the globe. The real estate industry is experiencing a rapid transformation that necessitates the incorporation of ESG into its fundamental practices and values. On the one hand, ESG enables real estate players to align their strategies and operations with global market developments and norms. On the other hand, ESG responds to the expectations and preferences of all the stakeholders, who are increasingly concerned about long-term sustainability. However, the existing literature has not yet established ESG in real estate as a holistic and stand-alone industry and research framework. Many studies have examined the environmental (E) factors, but the definitions of the social (S) and governance (G) factors remain unclear and are often mixed with corporate social responsibility (CSR). This study proposes ESG as a novel and holistic research framework for the real estate industry and conducts a bibliometric analysis of 28 bibliographic metadata retrieved from Scopus and the Web of Science following the PRISMA workflow. Clarifying the knowledge structure of ESG in real estate-related literature, this analysis presents the development trends and opportunities for future research from five perspectives: 1) overall development trend of scientific publications; 2) country performance; 3) world collaborative networks; 4) theoretical fundamentals (cited references and citations); and 5) thematic analysis

An Assessment of the Market Performance of Commercial and Residential Property Investments in Lekki, Lagos, Nigeria

The housing deficit issue in Lagos is creating investment opportunities for prospective investors to profit from in prime zones. Still, some investments are executed by investors with the assumption that their location or remitted rents validate their investment soundness. The purpose of this research was to assess the market performance of commercial and residential property investments in Lekki, Lagos, Nigeria with the target of directing sound investment decision-making amongst investors. Its objectives include; the examination of the drivers of demand for the two classes of property investment, the determination of the user demand hierarchy of the investment classes, the observation of factors that determine the market performance of the investment classes and the measurement of market performance of the investment classes in the study area. The Survey Research Design was adopted, while the sample selection was via Krejcie and Morgan’s technique. A total of 108 questionnaires were distributed across registered professional firms within Lekki. A total of 78 questionnaires were retrieved and a 72.23% response rate was achieved. Holding Period Return (HPR), Coefficient of Variation, Standard Deviation and Geometric Mean Return were employed in data analysis. It was discovered that the major driver of demand for commercial property investment in each zone of the Lekki axis is its business hub status, while the drivers for its residential counterpart are; Phase 1 (Prestige), Ikate (State of the economy) and Ikota (Level of infrastructure). The findings reveal that within Lekki, Ikota (11.4 & 9.63) had a better market performance of residential and commercial property investments compared to Ikate (10.87 & 9.16) and Phase 1 (10.08 & 9.04) in terms of their average holding period return and time weighted rate of return. The study recommended the consideration of the Ikota and Ikate axis for future residential and commercial investments by potential investors

Potential of Metaverse as New Technology to Improve the Property Agency Practice

Metaverse technology is regarded as the new revolution of the internet. It is a digital world that allows users to create their own avatars to interact and socialise with others. The continued development of the metaverse will change the way houses are viewed and transacted in the future, improving real estate agents\u27 marketing practices. This research aims to understand the awareness and perspectives of real estate agents about metaverse technology. Therefore, the first research objective is to investigate the level of awareness of metaverse technology among real estate agents in Malaysia. The second research objective is to examine the perceived benefits of adopting metaverse technology by real estate agents in Malaysia in the future. Questionnaires were distributed to real estate agents who work in Malaysia and are registered under the Board of Valuers, Appraisers, Estate Agents, and Property Managers. The collected data were analysed using frequency analysis, crosstabulation analysis, and mean score analysis. Overall, the findings show the level of awareness of metaverse technology among real estate agents in Malaysia and their perspectives on its adoption as part of their practices. Thus, this research can contribute to real estate agents, practitioners, firms, and researchers

Socio-Economic Characteristics of Households Determining Housing Satisfaction in Bauchi Metropolis, Bauchi State, Nigeria

Life satisfaction and housing quality are inextricably linked, and socio-economic factors have an impact on both. Low income families in poor quality housing thus bearing the impact of income-related deficits with housing satisfaction. There is potential call for lower-income families to make more frequent housing adjustment in order to be content with less-than-ideal living conditions. In Bauchi, it has been observed that socio-economic characteristics of an individual translates into his earning, thereby influences his choice of location and housing satisfaction. This study\u27s goal was to determine examining the impact of socio-economic characteristics of households on housing satisfaction in the study area. The study employed a quantitative methodology descriptive survey. 380 household heads received a questionnaire, of which 258 were recouped and used for data analysis. Households were surveyed employing stratified random sampling to gather data on the socio-economic characteristics of the households and satisfaction with environmental and physical characteristics. To determine the symbolic importance of the various elements, the gathered questionnaire was subjected to ordinal regression and descriptive statistics. According to the research findings, household’s satisfaction is correlated with their housing. There is significant link between socio-economic indicators and households’ housing satisfaction in the study area. The socio-economic factors in the study area that had a significant impact on housing satisfaction were gender and farming as a form of occupation. The government was advised to build the social facilities that are needed, repair the ones that are in bad shape, and implement the development control requirements as soon as possible

Causes of Valuation Inaccuracy in Mortgage Lending in Ethiopia

This study aims to add to the scarce empirical literature on mortgage valuation by ranking the variables that make inaccurate mortgage valuations. Given the central role, valuation plays in lending, high valuation inaccuracy leads to major market distortions in real estate with potentially harmful financial system repercussions. Thus, this study is envisioned to investigate the causes of valuation inaccuracy for mortgage purpose in commercial banks in Ethiopia. To achieve this objective, the study employed a convergent parallel mixed design. Data were collected from valuers through questionnaires and interviews using purposive, snowball, and convenience sampling techniques. To investigate the impact of the factors on valuation inaccuracy, an ordinal regression model was used. The study revealed that inappropriate valuation methods, the inadequacy of the market data, and property market imperfection were the most significant predictors. However, there are moderately significant causes which include the characteristics of the property market, valuation regulatory framework, and absence of the valuation standard. Client pressure, ethics, and competence of valuers were insignificant predictors. This paper recommends that the government should establish a government agency that is independent and in charge of valuation regulation, developing legal frameworks, and intervening in the property market. Based on the framework valuers should use an appropriate valuation method. Moreover, there should be an establishment of central databases that valuers relied on

Exploring the Condition of Wards in Malaysia Hospital Buildings

Hospital buildings condition necessitated the findings of this study especially the state of the wards in the hospital buildings. The objective of this study is to examine the conditions of the wards in the hospital buildings, and proffer recommendations to various stakeholders for enhancement. A quantitative approach was used where the condition of the hospital wards was ranked respectively by the participants were physicians, psychologists, dentists, veterinarians, medical doctors, medical officers, nurses, and other hospital buildings professional users constitute the sample stratum. Statistical Package for the Social Sciences (SPSS) version 25 was used to analyse the data; descriptive and inferential such as reliability, validity, and ranking. The salient finding is that polluted ventilation, faulty ceiling lamps, faulty fire alarms, faulty wall (wall finishes/painting) and faulty window handles, were the condition of wards that were ranked highest (slightly bad) and merely affected. This implies that there is the need to use a better maintenance management approach to avert further decline in the condition of the hospital wards. Also, the research findings states that hospital buildings conditions and components of wards could be in the good state at all times using a holistic approach that will reduce more wards component depreciations for quality services outputs for the users. The wards conditions in the hospital buildings could be greatly improved by using proper strategies and maintenance management plans. Most of the studies about hospital building wards had focused on thermal comfort, but there is a paucity of studies that investigate the hospital buildings\u27 condition of wards with low number in respondent active participation. Despite the constant rise in maintenance costs, there are numerous complaints and critiques of hospital buildings reported in the media. The lack of proper consideration for maintenance management and weaknesses in Malaysia hospitals has led to the deterioration of hospital buildings and reduced healthcare services. The study was being able to highlight some beneficial qualities and were also highlights some weaknesses of wards condition in the Malaysian hospital buildings which can tentatively be curtailed so users can be comfortable and satisfied

A Bibliometric Review of Research Trends in Facilities Management Technologies from 2000 to 2023

Technologies such as building management systems, building information modelling, computer aided design, virtual reality, internet of things, geographic information systems and robotics have been adopted to achieve effective Facilities Management (FM). However, little attempt has been made to map global research trends in FM technologies. This paper presents a bibliometric review on the application of technology in FM with the aim of determining research trends and gaps in this research area. A total of 107 publications on FM technologies from 2000 to 2023 were reviewed. The analysis was done with the VOSviewer software (version 1.6.13). The analysis focused on bibliographic coupling of countries, co-authorship of authors, citation of documents, and co-occurrence of keywords, which were presented as network visualization maps. The findings revealed that the publication trends in FM technologies have been upwards since 2000, although not completely gradient. Italy, United States, Mainland China, South Korea, Australia, United Kingdom, Sweden, China Taiwan, Canada, and Malaysia are the countries that have had great impact in this research area. Both the keywords and documents citation analysis revealed three distinct phases in the evolution of FM technologies research – energy efficiency technologies, BIM technologies, and advanced BIM technologies/internet of things. It also became evident that Africa lags in this area of research. This study helps to determine the range of technologies used for managing facilities and how such technologies have evolved. This can help facilities managers to become familiar with the current and cutting-edge technologies that could promote effective and efficient FM. Only one data source - Scopus - was used. Therefore, the representation of publications presented in this study are limited. However, the findings contribute to the body of knowledge in FM technologies

Factors Affecting Design toward Affordable Sustainable Housing Delivery in South African Construction Industry

The purpose of this study is to establish the factors that affect the design toward affordable sustainable housing delivery because housing is delivered above budget and unaffordable for low-income earners in South Africa. A sequential mixed method involving qualitative and quantitative approach was engaged for this study, and construction professionals were selected as respondents from nine provinces of South Africa to answer four points Likert scale quantitative questionnaires. A total of one hundred and fourteen (114) questionnaires were appropriately completed and retrieved from the respondents. Data collected were analyzed with descriptive statistics which include PCA, correlation, and regression analysis tools on SPSS version 25 to determine factors that affect the design with the regards to affordable housing delivery in South Africa, interview process is used to validate the findings obtained. The findings indicated that improper design leads to failure in achieving client objectives and causes a change in design and demolition. Lack of design of first-rate living conditions for a healthy environment, design sufficiency, and adaptability to meet people’s demand for cost efficient housing were the major factors responsible for unaffordable housing in South Africa. The study recommended that government should establish key policies on housing design to control resource waste and limit construction costs within budget. This will encourage the sensitivity of construction operators about resources control at the planning and implementation stages of housing production

The Relationship between the Maintenance Management Problems and the Maintenance Performance of High-Rise Residential Buildings

Building maintenance is the practice to retain the property habitable and functioning as it is designed for. However, the effectiveness of maintenance management appears to be the issue in housing context. Many maintenance management problems still exist up to date. They are likely to influence the service quality and resident satisfaction. Therefore, the objective of this research is to establish the relationship between the maintenance management problems and the maintenance performance. The research adopted quantitative approach to achieve the research aim. The approach comprised of literature review, questionnaire survey using google form that included both close-ended and open-ended questions. Based on the literature review, fourteen (14) maintenance management problems of high-rise residential buildings are identified. From the correlation analysis result, two (2) significance correlations are determined. The maintenance budget overrun is significantly correlated with the ratio of actual maintenance spent to planned maintenance cost (cost variance) of high-rise residential building, and a significant correlation occurs between unavailability of spare parts and ratio of actual to planned maintenance downtime (equipment effectiveness) of high-rise residential building. Besides, the opinions and strategies on solving the maintenance management problems were provided, including educating the residents about the Strata Management Act 2013, selecting qualified maintenance contractor, outsourcing the maintenance services, implementation of preventive maintenance (PM), hiring specialist to perform special maintenance work, providing training for maintenance staffs, formulating the building maintenance regulation, ensuring transparency of financial account, and setting up maintenance policy

A Study on Reconstruction of Condominium in the Metropolitan Area Using Real Estate Data

In Japan, there is concern about the impact of the growing stock of older condominiums on the buildings themselves and the surrounding environment, and immediate action is needed. While in other countries, repair, elimination, and retirement of aged condominiums are the mainstream methods, in Japan, reconstruction is sometimes used. This study proposes a new decision criterion using discriminant analysis to address the problem of the difficulty and long time required to build consensus for rebuilding older condominiums. Discriminant analysis used building attributes and other variables to differentiate and predict condominium properties that have been successfully reconstructed from those that were not. Simple and clear answers will enable non-expert judgment and aid in consensus building. Multiple discriminant formulas were obtained and compared for Tokyo and neighbouring cities, as well as by subdividing and adding up these subdivisions. At the same time, coefficients of variables were changed or added to increase the reliability of the equations. As a result, a new modified discriminant equation with a high degree of reliability that advances previous studies was obtained. In addition, through the process of creating the formula, we discovered a new option for determining whether or not to rebuild based on whether or not there is an excess floor-area ratio, which is generally considered to be the solution in Japan, by increasing the site area