COMMUNITY LOSS OF RESIDENTIAL VALUE FROM WATER AND NOISE POLLUTION

The impact of environmental disamenity on residential value had continued to receive attention in the property market. This study estimates community loss of residential value resulting from water and noise pollutions in the local neighbourhoods. The study areas comprised residential neighbourhoods nearby sources of such pollutions. Upon integration of the digital cadastre and house transaction data, digital maps were used to identify parcels of residential properties that were presumably affected by such pollutions in the study areas. Using the overlay and buffering functions, two proxy environmental variables were included in the regression models to capture pollution effects on residential values. The analysis disclosed that houses located closer to water and noise pollution were sold at lower prices compared to those located farther away from it. The total amount of community loss of “pollution-imposed†residential value in seven selected neighbourhoods was in excess of RM 57 million. The evidence shows that house buyers regard environmental quality as an important factor in real estate transaction. In particular, environmental disamenity resulting from water and noise pollution could have been negatively capitalised into residential values

Animal waqf as a thrust of social entrepreneurship

This paper is a foundation study on the concept of animal unit waqf (AUW). It is the first of its kind, based on local circumstances where there exists a need to encourage small farmers’ participation in animal husbandry in poverty-stricken and lack-of employment states in Malaysia, through the concept of waqf. Understandably, poor members of the community who wish to raise animals as a source of living do not find an affordable means of beginning a herd. Livestock waqf could be offered as an approach to resolving this issue. Based on the concept of social entrepreneurship, this paper explores the mechanism of livestock waqf, in particular the bahīmatul an’ām, that could be introduced to the farming community in Malaysia

Testing the Use of Multiple Regression Analysis and Rank Transformation Regression for Heritage Property Valuation

The aim of this paper was to test the applicability of multiple regression analysis and rank transformation regression in assessing the values of private heritage property. The original dataset consists of 893 commercial properties transacted from 2004 to 2014 in Kelantan Malaysia. After filtration process, only 25 units of shophouse heritage property were available and valid to be used. The models have been constructed and their statistical performances have been compared. The results indicate that adopting statistical methods of valuation per se to overcome the issue of unavailability of market evidence could not solve the consequences of the limited data problem. Keywords: real estate; heritage property; multiple regression analysis; rank transformation regression eISSN 2398-4279 © 2019. The Authors. Published for AMER ABRA cE-Bs by e-International Publishing House, Ltd., UK. This is an open access article under the CC BY-NC-ND license (http://creativecommons.org/licenses/by-nc-nd/4.0/). Peer–review under responsibility of AMER (Association of Malaysian Environment-Behaviour Researchers), ABRA (Association of Behavioural Researchers on Asians) and cE-Bs (Centre for Environment-Behaviour Studies), Faculty of Architecture, Planning & Surveying, Universiti Teknologi MARA, Malaysia.&nbsp

Assessment of Heritage Property Values Using Multiple Regression Analysis and Rank Transformation Regression

The current practice of heritage property valuation is using sale comparison approach. However, there is a limitation in applying this approach for heritage property valuation because of unavailability of market evidence.  Therefore, the aim of this paper was to evaluate the capability of Multiple Regression Analysis and Rank Transformation Regression in assessing the values of heritage property. The original dataset consists of 893 commercial properties transacted from 2004 to 2014 in Kota Bharu, Kelantan Malaysia. After filtration process, only 25 units of shophouse heritage property were available and valid to be used. The findings indicate that even we adopted statistical methods of analysis to overcome the issue of unavailability of market evidence this still could not solve the problem. Hence, the findings of this research contribute to the need for an improved method for heritage property valuation by proposing an extended sale comparison using statistical analysis for future investigation

A preliminary assessment of energy consumption behaviour pattern and factors influence among Malaysian higher education institutions students

Towards sustainable campus of higher education institutions (HEIs), energy consumption behaviour is one of the several matters that require attention by the facilities manager. Information on energy consumption behaviour helps on developing a good strategy for energy management. The purpose of this study is to assess energy consumption behaviour among Malaysian HEIs student. This study has an objective to determine energy consumption patterns and analyse the factors that influence the pattern. The ‘energy culture’ framework consolidated with ‘centrographic’ approach and econometric analysis used to strengthen the findings. A self-administrated survey carried out involving 158 respondents in Universiti Teknologi Malaysia, Johor. There are three types of energy use among students in HEIs namely, ‘high’, ‘low’, and ‘conserve’. The ‘device’, ‘activities’ and ‘building regulation’ are the influence factors on the pattern of energy use

Obstacles of the Current Concept of Waqf to the Development of Waqf Properties and the Recommended Alternative

Abstract Centuries passed and the controversy over the object of waqf is still on going. For those who thought that the controversy was over have actually followed the views of majority concerning the irrevocability, perpetuity and inalienability of the object of waqf. By adhering to this thought, waqf properties have faced various problems relating to their effective management and development thereof. This paper attempts to rethink the concept of waqf perpetuity and inalienability, and proposes to replace the perpetuity of the physical being of the object with that of dedication by assigning a value to the dedication which is then safeguarded and invested. This paper acknowledges the validity of all valuable waqfs including cash, usufruct, and labour which are capable of perpetuity according to the principle of value based concept of waqf properties

Basic aspects of property market research (Revised Edition)

Property market research basically deals with investigation and information generation related to all aspects of property business. It systematically and objectively scrutinizes the various components of human environment and property–related activities; examines their nature, issues, and problems; collects the relevant data; analyzes them in relation to certain specified issues, problems, and objectives; make conclusions; and documents the acquired information for firm’s decision–making purposes. As property market research helps well–informed decision–making, its scope can be very diverse. However, this book has chosen to discuss the fundamental aspects of property market research with a view to address all those aspects mentioned above. The chapters are so arranged to cover the concept of research, basic understanding about property market, its environment, consumer’s behaviour, location and productivity analysis, and the main elements of property market analysis

Basic aspects of property market research

This book is an elementary text that presents a discourse on the basic aspects of property market research for the use of university students studying real estate courses. Property market research is basically a branch of applied economics that supports various decision–making processes involving land as the major source of a nation’s wealth. Property market research is a multi–disciplinary undertaking whose basic function is to support various decision–making processes in the property business, ranging from property purchase, investment, planning, management to development, through generating, analyzing, and communicating useful and relevant information to the industry. The domain of property market research can be very diverse. However, this book has chosen to highlight the essential body of knowledge in property market research that undergraduate students should gain. It covers the concept of research, scope, elements of property market and its environment, consumer behaviour, location analysis, productivity analysis, economic activities of a geographic place, components of property market research, and property product pricing

Price-contour-based spatial dummy variables for segmenting market in the geographic information system assisted hedonic modelling of residential property prices

Dummy variable has been traditionally used to discriminate one sub-market against the other in the property market analysis. It is basically used to analyse various phenomena that have spatial influencesonthesesub-markets.Thispaperdiscusses the use of price-contour based spatial dummy variables for delineating urban residential sub-markets in the prediction of residential property values. Geographic Information System (GIS) is used to create price contours and these contours are used as a basis for creating spatial dummy variables representing sub-markets. These sub-markets are then included in the hedonic regressions to predict the prices of residential units in various urban sub-markets in the study area. The attribute and spatial data for the analysis are analysed using ArcView 3.1. The results show that GIS integrative capability to analyse the physical, locational, socio-demographic, economic, and market factors helps to demarcate the residential sub-markets within a particular urban area and this has improved price predictions

An introduction to property marketing

The property sub–sector commands a special understanding and analysis of various aspects related to its operations. One of these aspects is property marketing, which in its true nature, is a complete management process. Property marketing as a discipline, embraces a wide spectrum of phenomena related to management and planning, property market, marketing environment, consumer behaviour, products and other mixed elements, market segmentation, management of marketing efforts, real estate agency, marketing research, marketing communication, and management of marketing personnel. This book attempts to apply the general marketing discipline to property studies, especially in aspects related to the process of bringing property products to the attention of prospective buyers, with a blend of applications in economics, management, marketing, and business in order to understand the property market and dealing with its business objectives and goals. In this book, the author also explains how property marketing is implemented in companies involved in the property business