Search results for: housing sale price

Authors: Farnoosh Faal

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Institutional and organizational change in social housing organizations can have a significant impact on both the organizations themselves and their stakeholders. This paper provides an overview of the impact of institutional and organizational change on social housing organizations and their stakeholders, including tenants, employees, and other community members. The paper examines the different types of institutional and organizational change that can occur in social housing organizations, such as changes in management structure, funding models, and service delivery methods. It also explores the potential benefits and drawbacks of these changes, including changes in efficiency, service quality, and tenant satisfaction. The paper further discusses the impact of institutional and organizational change on social housing organization stakeholders, including the effects on employee morale, tenant engagement, and community relationships. The paper highlights the importance of effective stakeholder engagement and communication in ensuring a smooth transition to new organizational models and systems. Finally, the paper discusses the challenges and opportunities presented by institutional and organizational change in social housing organizations and provides recommendations for organizations looking to navigate these changes successfully. These recommendations include prioritizing stakeholder engagement, investing in staff training and development, and maintaining a focus on the needs and priorities of tenants and communities. Overall, this paper emphasizes the importance of considering the impact of institutional and organizational change on social housing organizations and their stakeholders and highlights strategies for managing these changes in a way that maximizes benefits and minimizes negative impacts.

Keywords: social housing organizations, stakeholder engagement, institutional change, challenges, opportunities

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Authors: Niloofar Ashktorab, Negar Ashktorab

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Oil exports fund nearly half of Iran’s government expenditures, since many years other countries have been imposed different sanctions against Iran. Sanctions that primarily target Iran’s key energy sector have harmed Iran’s economy. The strategic effects of sanctions might be reduction as Iran adjusts to them economically. In this study, we evaluate the impact of oil price and sanctions against Iran on food commodity prices by using panel data method. Here, we find that the food commodity prices, the oil price and real exchange rate are stationary. The results show positive effect of oil price changes, real exchange rate and sanctions on food commodity prices.

Keywords: oil price, food basket, sanctions, panel data, Iran

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Authors: S. M. Amin Hosseini, Ana Blanco, Albert De La Fuente, Sergio Cavalaro

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In emergency situations, it is fundamental to provide with a safe shelter to the population affected. However, the lack of resources and short time often represent a barrier difficult to overcome. A sustainable, rapid and low-cost construction technique is earthbag construction. This technique has spread as an alternative to the construction of emergency shelter, social housing, and even ecovillages. The earthbag construction consists of introducing soil in degradable bags that are stacked to form adobe structures. The present study aims to assess characteristics of the earthbag construction technique based on sustainability requirements and features of other methods used for temporary housing. In this case, after defining the sustainability criteria and emergency situation necessities, this study compares earthbag construction with other types of prefabricated temporary housing. Finally, the most suitable conditions for applying this technique based on the particular local properties and second life scenarios of superadobe temporary housing. The results of the study contribute to promote the earthbag and superadobe techniques as sustainable alternatives for temporary housing. However, the sustainability index of this technology highly depends on affected local conditions and characteristics. Consequently, in order to achieve a high sustainability index, emergency managers need to decide about this technology based on the highlighted results of this study, attention to the importance of specific local conditions and next functions of temporary housing.

Keywords: temporary housing, temporary shelter, earthbag, superadobe, sustainability, emergency

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Authors: Jingxian An, Wei Yu

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The commercial value (retail price) of wine is mostly determined by the wine quality, ageing potential, and oak influence. This paper reveals that wine quality, ageing potential, and oak influence are favourably correlated, hence positively influencing the commercial value of Pinot noir wines. Oak influence is the most influential of these three sensory attributes on the price set by wine traders and estimated by experienced customers. In the meanwhile, this study gives winemakers with chemical instructions for raising total phenolics, which can improve wine quality, ageing potential, and oak influence, all of which can increase a wine’s economic worth.

Keywords: retail price, ageing potential, wine quality, oak influence

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Authors: Adel Almasarwah

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This study investigates the nature of association between profit warnings and stock price informativeness in the context of Jordan as an emerging country. The analysis is based on the response of stock price synchronicity to profit warnings percentages that have been published in Jordanian firms throughout the period spanning 2005–2016 in the Amman Stock Exchange. The standard of profit warnings indicators have related negatively to stock price synchronicity in Jordanian firms, meaning that firms with a high portion of profit warnings integrate with more firm-specific information into stock price. Robust regression was used rather than OLS as a parametric test to overcome the variances inflation factor (VIF) and heteroscedasticity issues recognised as having occurred during running the OLS regression; this enabled us to obtained stronger results that fall in line with our prediction that higher profit warning encourages firm investors to collect and process more firm-specific information than common market information.

Keywords: Profit Warnings, Jordanian Firms, Stock Price Informativeness, Synchronicity

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Authors: Fahmida Nusrat, Sumaia Nasrin, Pinak Sarker

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Biharis as an urban refugee are a significant urban dweller in Dhaka since their forced migration on the partition of 1947. There are many such refugee settlements in Bangladesh, particularly in Dhaka where they often live in dire conditions, facing discrimination from mainstream society. Their camps have become slums. Housing for urban refugee is still not a strategic concern for overall housing policy of Dhaka. The study has been conducted in a significant refugee settlement located in Mirpur-11, Dhaka, to observe their way of living in these camps to understand the socio-cultural aspects that are shaping their settlement morphology, hence to identify the key issues of their built environment to suggest an inclusive and sustainable housing solution for improving their life in urban environment. The methods included first-hand data collection on their household spaces and community spaces accompanied with the overall spatial organization of the settlement pattern which later on followed by a semi-structured interview with randomly selected samples from the camp dwellers to get users’ feedback on the research aspects. The outcome of the study will help initiating housing strategies as well as formulating design issues for this case specific inhabitants of urban Dhaka.

Keywords: Bihari camp, Dhaka, housing strategy, the way of living, urban refugee

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Authors: Dominik Kowitzke

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Housing constructions have direct and indirect environmental impacts especially caused by soil sealing and gray energy consumption related to the use of construction materials. Accordingly, the German government introduced regulations limiting additional annual soil sealing. At the same time, in many regions like metropolitan areas the demand for further housing is high and of current concern in the media and politics. It is argued that meeting this demand by making better use of the existing housing supply is more sustainable than the construction of new housing units. In this context, targeting the phenomenon of so-called over the housing of empty nest households seems worthwhile to investigate for its potential to free living space and thus, reduce the need for new housing constructions and related environmental harm. Over housing occurs if no space adjustment takes place in household lifecycle stages when children move out from home and the space formerly created for the offspring is from then on under-utilized. Although in some cases the housing space consumption might actually meet households’ equilibrium preferences, frequently space-wise adjustments to the living situation doesn’t take place due to transaction or information costs, habit formation, or government intervention leading to increasing costs of relocations like real estate transfer taxes or tenant protection laws keeping tenure rents below the market price. Moreover, many detached houses are not long-term designed in a way that freed up space could be rent out. Findings of this research based on socio-economic survey data, indeed, show a significant difference between the living space of empty nest and a comparison group of households which never had children. The approach used to estimate the average difference in living space is a linear regression model regressing the response variable living space on a two-dimensional categorical variable distinguishing the two groups of household types and further controls. This difference is assumed to be the under-utilized space and is extrapolated to the total amount of empty nests in the population. Supporting this result, it is found that households that move, despite market frictions impairing the relocation, after children left their home tend to decrease the living space. In the next step, only for areas with tight housing markets in Germany and high construction activity, the total under-utilized space in empty nests is estimated. Under the assumption of full substitutability of housing space in empty nests and space in new dwellings in these locations, it is argued that in a perfect market with empty nest households consuming their equilibrium demand quantity of housing space, dwelling constructions in the amount of the excess consumption of living space could be saved. This, on the other hand, would prevent environmental harm quantified in carbon dioxide equivalence units related to average constructions of detached or multi-family houses. This study would thus provide information on the amount of under-utilized space inside dwellings which is missing in public data and further estimates the external effect of over housing in environmental terms.

Keywords: empty nests, environment, Germany, households, over housing

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Authors: Funmilayo L. Amao

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As a result of the high cost of housing, the increasing population is forced to live in substandard housing and unhealthy conditions giving rise to poor residential neighborhoods. The paper examines the causes and characteristics of poor residential neighborhood. The paper finds the problems that have influence poor neighborhoods to; poverty, growth of informal sector and housing shortage. The paper asserts that poor residential neighborhoods have adverse effects on the people. The secondary data was obtained from books, journals and seminar papers while primary data relating to building and environmental quality from structured questionnaire administered on sample of 500 household heads, from sampling frame of 5000 housing units. The study reveals that majority of the respondents are poor and employed in informal sector. The paper suggests urban renewal and slum upgrading programs as methods in dealing with the situation and an improvement in the socio-economic circumstances of the inhabitants.

Keywords: environmental degeneration, housing, poverty, quality of life, urban upgrading

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Authors: Myrto Dagkouli-Kyriakoglou

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Southern European countries tend to have a lot of connections in their culture, customs, ideals and attitude towards everyday aspects. On the contrary, all of them demonstrate a lot of differences in their history, political life and economic situation. Nevertheless, the state welfare and its insufficiency to deal with citizens’ needs, is common for the whole region. As the global financial crisis initiated, all of them gradually were affected and established austerity measures. Consequently, there were crucial budget cuts in state welfare and accordingly limited support to the citizens at a time that is most needed as the economic difficulties of the households are rising rapidly. Crisis in connection with austerity measures brought up a housing problem which was hidden for decades with the assistance of the institution of the Southern European family. New or old copying practices concerning housing are already developed and more will rise in order to survive this new era. Expressly, youth is one of the most vulnerable groups in this situation and therefore there is a special focus on the policies that affect their housing as well as their copying practices in connection with the family/kinship strategies.

Keywords: housing, coping practices, Greece, familism

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Authors: Arezoo Heidary, Abolfazl Mirzazadeh, Aref Gholami-Qadikolaei

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In the business environment it is very common that a lot received may not be equal to quantity ordered. in this work, a random disturbance in a received quantity is considered. It is assumed a maximum allowable limit for storage space and inventory investment.The impact of lead time and ordering cost reductions once they act dependently is also investigated. Further, considering a mixture of back order and lost sales for allowable shortage system, the effect of investment on reducing lost sale rate is analyzed. For the proposed control system, a Lagrangian method is applied in order to solve the problem and an algorithmic procedure is utilized to achieve optimal solution with the global minimum expected cost. Finally, proves on concavity and convexity of the model in the decision variables are shown.

Keywords: stochastic inventory system, lead time, ordering cost, lost sale rate, inventory constraints, random disturbance

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Authors: Umeora Chukwunonso Obiefuna

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The private sector in housing provision continually take steps towards addressing part of the problem of cushioning the effect of the housing shortage in Nigeria by establishing housing estates since the government alone cannot provide housing for everyone. This research examined and reported findings from research conducted on the state of repair of buildings in private housing estates in Enugu metropolis, Enugu state Nigeria. The objectives of the study were to examine the physical conditions of the building fabrics and appraise the performance of infrastructural services provided in the buildings. The questionnaire was used as a research instrument to elicit data from respondents. Stratified sampling of the estates based on building type was adopted as a sampling method for this study. Findings from the research show that the state of repair of most buildings require minor repairs to make them fit for habitation and sound to ensure the well-being of the residents. In addition, four independent variables from the nine independent variables investigated significantly explained residual variation in the dependent variable - state of repair of the buildings in the study area. These variables are: Average Monthly Income of Residents (AMIR), Length of Stay of the Residents in the estates (LSY), Type of Wall Finishes on the buildings (TWF), and Time Taken to Respond to Resident’s complaints by the estate managers (TTRC). With this, the linear model was established for predicting the state of repair of buildings in private housing estates in the study area. This would assist in identifying variables that are lucid in predicting the state of repair of the buildings.

Keywords: building, housing estate, private, repair

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Authors: Errol J. Haarhoff

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Housing in New Zealand, particularly in Auckland, is dominated by low-density suburbs. Over the past 20 years, housing intensification policies aimed to curb outward low-density sprawl and to concentrate development within an urban boundary have been implemented. This requires the greater deployment of attached housing typologies such apartments, duplexes and terrace housing. There has been strong market response and uptake for higher density development, with the number of building approvals received by the Auckland Council for attached housing units increasing from around 15 percent in 2012/13, to 54 percent in 2017/18. A key question about intensification and strong market uptake in a city where lower density has been the norm, is whether higher density neighborhoods will deliver necessary housing satisfaction? This paper reports on the findings to a questionnaire survey and focus group discussions probing resident perceptions to living at higher density in relation to their dwellings, the neighborhood and their sense of community. The findings reveal strong overall housing satisfaction, including key aspects such as privacy, noise and living in close proximity to neighbors. However, when residents are differentiated in terms of length of tenure, age or whether they are bringing up children, greater variation in satisfaction is detected. For example, residents in the 65-plus age cohort express much higher levels of satisfaction, when compared to the 18-44 year cohorts who more likely to be binging up children. This suggests greater design sensitivity to better accommodate the range of household types. Those who have live in the area longer express greater satisfaction than those with shorter duration, indicating time for adaption to living at higher density. Findings strongly underpin the instrumental role that the public amenities play in overall housing satisfaction and the emergence of a strong sense of community. This underscores the necessity for appropriate investment in the public amenities often lacking in market-led higher density housing development. We conclude with an evaluation of the PPP model, and its part in delivering housing satisfaction. The findings should be of interest to cities, housing developers and built environment professional pursuing housing policies promoting intensification and higher density.

Keywords: medium density, housing satisfaction, neighborhoods, sense of community

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Authors: Tris Kee

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This research investigates social sustainability factors in transitional housing projects and their impact on fostering healthy living environments that promote physical activity and social interaction for residents. Social sustainability is integral to individual health and well-being, as emphasized by Goal 11 of the 2030 Agenda for Sustainable Development, which highlights the importance of safe, affordable, and accessible transport systems, green spaces, and public spaces catering to vulnerable populations' needs. Communal spaces in urban environments are essential for fostering social sustainability, as they serve as settings for physical activities and social interactions among diverse socio-economic groups. Factors such as neighborhood social atmosphere, historical context, social disparity, and mobility can influence the relationship between existing and transitional communities. Mental health effects can be measured through housing segregation, mobility and accessibility, and housing tenure. A significant research gap exists in understanding the living environment of transitional housing in Hong Kong and the social sustainability factors affecting residents' mental and physical health. To address this gap, our study employs a mixed-methods approach combining survey questionnaires and interviews to gather both quantitative and qualitative data. This methodology will provide comprehensive insights into residents' experiences and perceptions. Our research's main contribution is identifying key social sustainability factors in transitional housing and their impact on residents' well-being, informing policy-making and the creation of inclusive, healthy living environments. By addressing this research gap, we aim to provide valuable insights for future housing projects, ultimately promoting the development of socially sustainable transitional communities.

Keywords: social sustainablity, affordable housing, transitional housing, high density housing

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Authors: Jubril Olatunbosun Akinde

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Unplanned population growth are mostly attributed to a lack of infrastructural facilities and poor economic condition in the rural dwellings and the incidence of rural-urban migration, which has resulted in severe housing deficiency in the urban centre, with a resultant pressure on housing delivery in the cities. Affordable housing does not only encompass environmental factors that make living acceptable and comfortable, which include good access routes, ventilation, sanitation and access to other basic human needs, which include water and safety. The research assessed the housing affordability and safety measures in the varied residential area of lagos by examining the demographic and socioeconomic attributes of residents; examining the existing residential safety measures; by examining the residential quality in terms of safety; the researcher therefore examined if relationship between housing affordability and safety in the varied residential areas. The research adopted the bartlett, kotrlik and higgins (2001) method of t-test to determine the sample size which specifies different populations at different levels of significance (α). The researcher adopted primary data which was sourced from a field survey where the sample population was simply randomly selected to give a member of the population an equal chance of being selected, therefore, the sample size for the field survey was two hundred (200) respondents, and subjected to necessary testing. The research come to conclusion that housing safety and security is the responsibility of every resident, the landlords/landladies possess a better sense of security in their neighbourhood than renters in the community, therefore they need to be aware of their responsibility of ensuring the safety of lives and property.

Keywords: housing, housing affordability, housing security, residential, residential quality

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Authors: Helida Thays Gomes Soares, Conceicao De Maria Pinheiro Correia, Fabiano Maciel Soares, Kleymer Silva

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There is great discussion around populational increase in urban areas of the global south, and, consequently, the growth of inappropriate housing and the different ways humans have found to solve housing problems around the world. Sao Luís, the capital of the state of Maranhao is a good example. The 1.6 million inhabitant metropole is a colonial tropical city that shelters 22% of the population of Maranhão, brazilian state that still carries the scars of slavery in past centuries. In 2016, Brazilian Institute of Geography and Statistic found that 20% of Maranhão’s inhabitants were living in houses with external walls made of non-durable materials, like recycled wood, cardboard or soil. Out of this problematic, this study aims to propose interventions not only in the physical structure of irregular housing, but also to serve as a guide to intervene in the way eco-friendly, communitarian housing is seen by extreme poor zones inside metropolitan regions around big cities in the global south. The adaptation and reuse of industrial containers from the Harbor of Itaqui for housing is also an aim of the project. The great volume of discarded industrial containers may be an opportunity to solve housing deficit in the city. That way, through field research in São Luís’ neighborhoods mostly occupied by inappropriate housing, the study intends to raise ethnographical and physical values that help to shape new uses of industrial containers and recycled building materials, bringing the community into the process of shaping new-housing for local housing programs, changing the mindset of a concrete/brick model of building. The study used a general feasibility analysis of local engineers regarding strength of the locally used container for construction purposes, and also researched in-loco the current impressions of risky areas inhabitants of housing, traditional housing and the role they played as city shapers, evaluating their perceptions of what means to live and how their houses represent their personality.

Keywords: container housing, civil construction, housing deficit, participatory design, sustainability

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Authors: Sisi Xia, Dezhuan Tao, Junyan Yang, Weiting Xiong

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Under the background of Chinese urbanization changing from incremental development to stock development, the completion of urban public service facilities is essential to urban spatial quality. As public services facilities is a huge and complicated system, clarifying the various types of internal rules associated with the land market price is key to optimizing spatial layout. This paper takes Wuxi City as a representative sample location and establishes the digital analysis platform using urban price and several high-precision big data acquisition methods. On this basis, it analyzes the coupling relationship between different public service categories and land price, summarizing the coupling patterns of urban public facilities distribution and urban land price fluctuations. Finally, the internal mechanism within each of the two elements is explored, providing the reference of the optimum layout of urban planning and public service facilities.

Keywords: public service facilities, land price, urban spatial morphology, big data

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Authors: Mohammed F. Haddad, Mohammad A. Albenayyan

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Realistically, 3-D printing as a technology has not yet reached the required maturity level to handle construction housing projects for citizens on a country scale. However, potentially, it has all of the required elements for addressing this issue. There are two main high-level elements of this technology that need to be capitalized on in order for the technology to reach its full potential, technical and logistical. This paper aims to cover how 3-D printing can be a viable technical solution for housing projects and describe the impact of 3-D printing technical features on the logistical aspects of completing a housing project. Additionally, a perspective about 3-D printing in Saudi Arabia will be presented in order to give the reader an idea of where the kingdom stands in the deployment of this technology. Finally, a glimpse will be given regarding the potential utilization of this technology for space applications.

Keywords: large-scale 3-D printing, additive manufacturing, D- shape, contour crafting

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Authors: Fauzia Dianawati, Riska W. Purnomo

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Food and agricultural sector become the biggest sector contributing to inflation in Indonesia. Especially in Wonogiri district, red cayenne pepper was the biggest sector contributing to inflation on 2016. A national statistic proved that in recent five years red cayenne pepper has the highest average level of fluctuation among all commodities. Some factors, like supply chain, price disparity, production quantity, crop failure, and oil price become the possible factor causes high volatility level in red cayenne pepper price. Therefore, this research tries to find the key factor causing fluctuation on red cayenne pepper by using ARCH/GARCH method. The method could accommodate the presence of heteroscedasticity in time series data. At the end of the research, it is statistically found that the second level of supply chain becomes the biggest part contributing to inflation with 3,35 of coefficient in fluctuation forecasting model of red cayenne pepper price. This model could become a reference to the government to determine the appropriate policy in maintaining the price stability of red cayenne pepper.

Keywords: ARCH/GARCH, forecasting, red cayenne pepper, volatility, supply chain

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Authors: Simone Tedeschi, Francesco Crespi, Paolo Liberati, Massimo Paradiso, Antonio Sciala

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This paper aims at contributing to the understanding of smokers’ responses to cigarette prices increases with a focus on heterogeneity, both across individuals and price levels. To do this, a stated preference quasi-experimental design grounded in a random utility framework is proposed to evaluate the effect on smokers’ utility of the price level and variation, along with social conditioning and health impact perception. The analysis is based on individual-level data drawn from a unique survey gathering very detailed information on Italian smokers’ habits. In particular, qualitative information on the individual reactions triggered by changes in prices of different magnitude and composition are exploited. The main findings stemming from the analysis are the following; the average price elasticity of cigarette consumption is comparable with previous estimates for advanced economies (-.32). However, the decomposition of this result across five latent-classes of smokers, reveals extreme heterogeneity in terms of price responsiveness, implying a potential price elasticity that ranges between 0.05 to almost 1. Such heterogeneity is in part explained by observable characteristics such as age, income, gender, education as well as (current and lagged) smoking intensity. Moreover, price responsiveness is far from being independent from the size of the prospected price increase. Finally, by comparing even and uneven price variations, it is shown that uniform across-brand price increases are able to limit the scope of product substitutions and downgrade. Estimated price-response heterogeneity has significant implications for tax policy. Among them, first, it provides evidence and a rationale for why the aggregate price elasticity is likely to follow a strictly increasing pattern as a function of the experienced price variation. This information is crucial for forecasting the effect of a given tax-driven price change on tax revenue. Second, it provides some guidance on how to design excise tax reforms to balance public health and revenue goals.

Keywords: smoking behaviour, preference heterogeneity, price responsiveness, cigarette taxation, random utility models

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Authors: Li-hsing Shih, Wei-Jen Hsu

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Recently, the sale of electrical vehicles (EVs) has increased dramatically due to maturing technology development and decreasing cost. Governments of many countries have made regulations and policies in favor of EVs due to their long-term commitment to net zero carbon emissions. However, due to uncertain factors such as the future price of EVs, forecasting the future market share of EVs is a challenging subject for both the auto industry and local government. This study tries to forecast the market share of EVs using conjoint models and Monte Carlo simulation. The research is conducted in three phases. (1) A conjoint model is established to represent the customer preference structure on purchasing vehicles while five product attributes of both EV and internal combustion engine vehicles (ICEV) are selected. A questionnaire survey is conducted to collect responses from Taiwanese consumers and estimate the part-worth utility functions of all respondents. The resulting part-worth utility functions can be used to estimate the market share, assuming each respondent will purchase the product with the highest total utility. For example, attribute values of an ICEV and a competing EV are given respectively, two total utilities of the two vehicles of a respondent are calculated and then knowing his/her choice. Once the choices of all respondents are known, an estimate of market share can be obtained. (2) Among the attributes, future price is the key attribute that dominates consumers’ choice. This study adopts the assumption of a learning curve to predict the future price of EVs. Based on the learning curve method and past price data of EVs, a regression model is established and the probability distribution function of the price of EVs in 2030 is obtained. (3) Since the future price is a random variable from the results of phase 2, a Monte Carlo simulation is then conducted to simulate the choices of all respondents by using their part-worth utility functions. For instance, using one thousand generated future prices of an EV together with other forecasted attribute values of the EV and an ICEV, one thousand market shares can be obtained with a Monte Carlo simulation. The resulting probability distribution of the market share of EVs provides more information than a fixed number forecast, reflecting the uncertain nature of the future development of EVs. The research results can help the auto industry and local government make more appropriate decisions and future action plans.

Keywords: conjoint model, electrical vehicle, learning curve, Monte Carlo simulation

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Authors: Tony Rizk

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Recent material advances and cost efficiencies are transforming the housing industry away from traditional lumber and gypsum material to alternate fiberboard material that is workable and resistant to fire, mold, and pest infestation. The use of these materials may add to the initial cost of construction. However, the life cycle (cradle to grave) cost of houses using these construction materials and methods are lower than the life cycle costs using traditional housing construction materials and methods. This paper will present four (4) case studies of sustainable house projects. Each project was designed and constructed using earthen-based, sustainable fiberboard material that is resistant to fire, mold, and infestation and fabricated at a very low material calorific value. These house projects have a living space ranging from 625 sq. ft. for an accessory dwelling unit and up to 3,200 sq. ft. 1-story and 2-story homes. For each case study, we will present the house engineering design and construction method, the initial construction costs, a summary of the life cycle costs, and a comparison to the life cycle cost of traditional housing available in the literature.

Keywords: residential housing, sustainable housing, life cycle cost, fire resistance, mold, infestation resistance

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Authors: Micah Amor P. Yares

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Aside from the provision of adequate housing, the Philippine government faces the challenge of ensuring that the housing units provided conform to the Filipino’s ambition to self as manifested by owning a small house on a big lot. The study aimed to explore the levels of satisfaction of end-users and the public perception towards socialized housing in Davao City, Philippines. The residential satisfaction survey includes three types of respondents, which are end-users of single-detached, duplex and rowhouse socialized housing units. Respondents were asked to rate their level of satisfaction and perception to the following housing components: Dwelling Unit; Public Facilities; Social Environment; Neighborhood Facilities; Management Systems; and Acquisition and Financing. The data were subjected to Exploratory Factor Analysis to determine if variables can be grouped together, and Confirmatory Factor Analysis to measure if the model fits the construct. In determining which component affects the level of perception and satisfaction, a Multiple Linear Regression Analysis was employed. Lastly, an Individual Samples T-Test was performed to compare the levels of satisfaction and perception among respondents. Results revealed that residents of socialized housing were highly satisfied with their living conditions despite concerns on management systems, public and neighborhood facilities. Residents' satisfaction is primarily influenced by the Social Environment, Acquisition and Financing, and the Dwelling Unit. However, a significant difference in residential satisfaction level was observed among different types of housing with rowhouse residents recording the lowest satisfaction level compared to single-detached and duplex units. Moreover, the general public perceived Socialized housing as moderately satisfactory having the same determinant as the end-users aside from the Public Facilities. This study recommends revisiting the current Socialized Housing policies by considering the feedback from the end-users based on their lived experience and the public according to their perception.

Keywords: public perception, residential satisfaction, rowhouse, socialized housing

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Authors: Faisal Algosair

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We examine the role of monetary policy in the presence of commodity price shocks using a Dynamic stochastic general equilibrium (DSGE) model with price and wage rigidities. The model characterizes a commodity exporter by its degree of export diversification, and explores the following monetary regimes: flexible domestic inflation targeting; flexible Consumer Price Index inflation targeting; exchange rate peg; and optimal rule. An increase in the degree of diversification is found to mitigate responses to commodity shocks. The welfare comparison suggests that a flexible exchange rate regime under the optimal rule is preferred to an exchange rate peg. However, monetary policy provides limited stabilization effects in an economy with low degree of export diversification.

Keywords: business cycle, commodity price, exchange rate, global financial cycle

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Authors: Gert Van Schalkwyk, Chris Cloete

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South Africa is experiencing a massive housing backlog in urban low-cost housing. A backlog in the transfer of low-cost housing units is exacerbated by various impediments and delays that exist in the current legal framework. Structured interviews were conducted with forty-five practicing conveyancers and fifteen deeds office examiners at the Deeds Office in Pretoria, South Africa. One of the largest, the Deeds Office in Pretoria implements a uniform registration process and can be regarded as representative of other deeds offices in South Africa. It was established that a low percentage of low-cost properties are freely transferable. The main economic impediments are the absence of financing and the affordability or payment of rates and taxes to local government. Encroachment of buildings on neighboring stands caused by the enlargement of existing small units on small stands also causes long-term unresolved legal disputes. In addition, as the transfer of properties is dependent on the proper functioning of administrative functions of various government departments, the adverse service delivery of government departments hampers transfer. Addressing the identified problems will contribute to a more sustainable process for the transfer of low-cost housing units in South Africa.

Keywords: conveyancing, low-cost housing, South Africa, tenure, titling, transfer

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Authors: H. C. Chinwenyi, H. D. Ibrahim, F. A. Ahmed

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In modern financial mathematics, valuing derivatives such as options is often a tedious task. This is simply because their fair and correct prices in the future are often probabilistic. This paper examines three different Stochastic Differential Equation (SDE) models in finance; the Constant Elasticity of Variance (CEV) model, the Balck-Karasinski model, and the Heston model. The various Martingales option price valuation formulas for these three models were obtained using the replicating portfolio method. Also, the numerical solution of the derived Martingales options price valuation equations for the SDEs models was carried out using the Monte Carlo method which was implemented using MATLAB. Furthermore, results from the numerical examples using published data from the Nigeria Stock Exchange (NSE), all share index data show the effect of increase in the underlying asset value (stock price) on the value of the European Put Option for these models. From the results obtained, we see that an increase in the stock price yields a decrease in the value of the European put option price. Hence, this guides the option holder in making a quality decision by not exercising his right on the option.

Keywords: equivalent martingale measure, European put option, girsanov theorem, martingales, monte carlo method, option price valuation formula

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Authors: Aisha Abdulkarim Aliyu, Alice Sabrina Ismail, Fadhlina Binti Ahmad

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The study's main goal is to improve Afrocentric cultural approaches in Nigerian residential environments (Kano) in terms of physical, aesthetical, and socio-cultural factors. Kano's fast-changing residential settings and city image have been subjected to a significant neoliberal restructuring process in recent decades. Architects have evolved in lockstep with the society they serve, first as an art form, then as a science, and finally as a business that designs structures. Design values have always emphasized a certain building style throughout history. Architects and architectural critics have a different perspective on them than the general public. In fact, a popular style among the general public was taken into consideration. When it comes to the current design, this study examines the values and viewpoints of architects on the usage of an Afrocentric cultural approach to housing. The qualitative data analysis of surveys conducted with Kano housing and planning professionals is used to determine the criteria for using an Afrocentric cultural approach in housing development in order to preserve and restore our cultural heritage, as well as to rank these criteria according to their importance. The professional lens on this subject differs insignificantly across Nigeria, although they do vary to some amount based on the sector of the housing industry, according to the study.

Keywords: architects lens, Afrocentric culture, housing, northern Nigeria

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Authors: Dhruba Khatri

Abstract:

Despite the short history of community based forest management, the community forestry program of Nepal has produced substantial positive effects to organize the local people at a local level institution called Community Forest User Group and manage the local forest resources in the line of poverty reduction since its inception in 1970s. Moreover, each CFUG has collected a community fund from the sale of forest products and non-forestry sources as well and the fund has played a vital role to improve the livelihood of user households living in and around the forests. The specific study sites were selected based on the criteria of i) community forests having dominancy of Sal forests, and ii) forests having 3-5 years experience of community forest management. The price rates of forest products fixed by the CFUGs and the distribution records were collected from the respective community forests. Nonetheless, the relation between pricing strategy and community fund collection revealed that the small change in price of forest products could greatly affect in community fund collection and carry out of forest management, community development, and income generation activities in the line of poverty reduction at local level.

Keywords: benefit sharing, community forest, equitable, Nepal

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Authors: Saleh Alzahrani, Halim Boussabaine

Abstract:

The majority of Public Private Partnership (PPP) are developed based on the rationale that the design, construction, operation, and financing of a public project is to be awarded to a private party within a single contractual framework. PPP project risks normally include the development and construction of a new asset as well as its operation for decades. Undoubtedly the most serious consequences of risks during the construction period are price and time overruns. These events are amongst the most broadly used scenarios in value for money analysis risks. The sources of risk change over the life cycle of a PPP project. In traditional procurement, the public sector normally has to cover all price distress from these risks. At least there is plenty evidence to suggest that price distress is a norm in some of the projects that are delivered under traditional procurement. This paper will find the impact of construction risk factors into actual construction price into PPP projects. The paper will present a brief literature review on PPP risk pricing strategies, and then using system dynamics (SD) to analyses of the risks associated with the estimated project price. Based on the finding from these analyses a risk pricing association model is presented and discussed. The paper concludes with thoughts for future research.

Keywords: Public Private Partnership (PPP), Risk, Risk Pricing, System Dynamics (SD), construction price

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Authors: Saif Ul Haq

Abstract:

The current study intends to examine the safety and quality considerations of clients of housing projects and their impact on the adoption of Quality Function Deployment (QFD) by the construction firm. Mixed method research technique has been used to collect and analyze the data wherein a survey was conducted to collect the data from 220 clients of housing projects in Saudi Arabia. Then, the telephonic and Skype interviews were conducted to collect data of 15 professionals working in the top ten real estate companies of Saudi Arabia. Data were analyzed by using partial least square (PLS) and thematic analysis techniques. Findings reveal that today’s customer prioritizes the safety and quality requirements of their houses and as a result, construction firms adopt QFD to address the needs of customers. The findings are of great importance for the clients of housing projects as well as for the construction firms as they could apply QFD in housing projects to address the safety and quality concerns of their clients.

Keywords: construction industry, quality considerations, quality function deployment, safety considerations

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Authors: Madifedile Thasi, Azola Mayeza

Abstract:

In South Africa, provision of housing to the growing population has been described as one of the greatest challenges facing the government. Between 1994 to 2015, more than 2.5 million housing units were provided by the government for the poorest households and the low-income earners under the Reconstruction and Development Programme (RDP). Yet, the latest census figure revealed that about 2.1 million households still live in shacks and informal dwellings. Human settlements patterns remain dysfunctional across in South Africa because of rapid urbanisation. The housing backlog is growing at a rate of 178 000 units a year. The aforementioned predicament calls the need for innovative approaches to address the issue in a sustainable way and this need not be overemphasized. Aside from the issue of cost, the delivery of more housing units comes with environmental and sustainability issues. The prefabrication building technology has resulted into accelerated housing delivery to a satisfactory level in some countries such as Nigeria and Malaysia that are facing similar issue. It is therefore expected to be a foremost option to address the social housing backlog in South Africa and within the country housing sustainability agenda. This paper appraises the factors responsible for the limited implementation of prefabrication technology in South African housing projects. The objective is to recommend the method and materials that can be best sustained in the country in terms of local availability, cost effectiveness and environmental friendliness. It presents empirical data to support the hypothesis that a wider implementation of prefabrication technology in the social housing projects will be of significant benefit, by providing fast turnaround, cost-effective and sustainable solution that will dent the housing backlog, as well as improving the quality of the social housings. It was found that only 17 000 units of the RDP housings provided were constructed using alternative building technologies. Furthermore, there are variety of prefabricated technologies in the market but mostly have limited production capacity, minimal manufacturing capacity and most materials are imported, which leads to unavailability of the technology for large scale delivery and utilization despite its obvious advantages.

Keywords: prefabrication technology, sustainable social housings, South Africa, housing delivery

Procedia PDF Downloads 172