The changing nature of real estate research

PurposeWith the Journal of Property Investment and Finance (JPIF) being 40 years old, this paper reflects on the changes in real estate research over the last 40 years, the drivers behind these changes and how JPIF has evolved over these 40 years to retain its position as a leading real estate research journal. Challenges and opportunities are also identified for the next generation of real estate researchers to continue to develop the real estate research agenda.Design/methodology/approachThis paper is presented as a reflective article, drawing on a deep personal understanding of real estate research, how it has evolved over the last 40 years, key drivers of these changes and the challenges going forward.FindingsFundamental changes in real estate research over the last 40 years and drivers behind these changes are articulated. A pathway forward for real estate research is identified, as well as how JPIF fits into the mix.Practical implicationsWith real estate research being increasingly important in real estate academics' careers, this article provides a practical roadmap for how real estate research has changed, why it has changed and future opportunities for the next generation of real estate researchers.Originality/valueThis is the first paper to reflect on these key changes and drivers behind these changes in real estate research, as well as the opportunities for the next generation of real estate researchers.

Bridging the gap between real estate research and professional practice in Nigeria

PurposeBeyond contributing to literature, research findings are expected to reinforce existing best practices while also serving as a springboard for formulating new and more efficient methods of undertaking economic activities. However, academic research is sometimes divorced from implementation and research findings are not always translated into practice. This study, therefore, assesses the impact of real estate research activities and findings on the practice of real estate surveying and valuation in Nigeria as the largest real estate market in Africa.Design/methodology/approachAn online questionnaire survey was conducted to obtain relevant data from Estate Surveyors and Valuers across the country. The survey questions cover reading of academic papers from the field of real estate and the reasons for doing so; whether they have made any changes to their professional practice based on findings from academic papers; and possible barriers to adoption academic research findings in your practice. Mean score ranking and principal component analysis were employed for data analysis.FindingsOut of a total of 61 participants, only 35 have made a change to their professional practice based on findings from academic papers they have read. “Personal development and enlightenment” ranks first on the list of reasons for reading academic papers among the participants while barriers to the adoption of academic research findings relate mainly to education, dissemination and lack of guidance on how to apply research findings.Practical implicationsThe study demonstrates how findings from real estate research are being applied and identifies possible barriers that must be addressed to improve the level of application and consequently, the value of academic studies.Originality/valueThe study provides evidence on barriers to the adoption of academic research and contributes to the global effort to bridge the gap between academia and practice.

The significance of impact in real estate research publications

PurposeResearch impact has taken on increased importance at both a micro- and macro-level and is a key factor today in shaping the careers of real estate researchers. This has seen a range of research impact metrics become global benchmarks when assessing research impact at the individual academic level and journal level. Whilst recognising the limitations of research impact metrics, this paper uses these research impact metrics to identify the leading research impact researchers in real estate, as well as the leading real estate journals in the real estate impact space. The nexus between research quality and research impact is also articulated. As well as focusing on research quality, strategies are identified for the effective incorporation of research impact into a real estate researcher's agenda to assist their research careers; particularly for Early Career Researchers in real estate.Design/methodology/approachThe research impact profile of over 150 real estate researchers and 22 real estate journals was assessed using Google Scholar and Publish or Perish. Using the research impact metrics of the h-index, total citations and i10, the leading high impact real estate researchers as well as the high impact real estate journals are identified.FindingsBased in these research impact metrics, the leading real estate researchers in impactful real estate research are identified. Whilst being US focused, there is clear evidence of increasing roles by ERES, AsRES and PRRES players. The leading real estate journals in the impact space are identified, including both real estate-specific journals and the broader planning/urban policy journals, as well as being beyond just the standard US real estate journals. Researcher career strategies are also identified to see both research quality and research impact included as balanced elements in a real estate researcher's career strategy.Practical implicationsWith research impact playing an increased role in all real estate researchers' careers, the insights from this paper provide strong empirical evidence for effective strategies to expand the focus on the impact of their real estate research agendas. This sees a balanced strategy around both research quality and research impact as the most effective strategy for real estate researchers to achieve their research career goals.Originality/valueResearch impact has taken on increased importance globally and is an important factor in shaping real estate researchers' careers. Using research impact metrics, this is the first paper to rigorously and empirically identify the leading research impact players and journals in real estate, as well as identifying strategies for the more effective inclusion of impact in real estate researchers' agendas.

An analysis of papers published in the Journal of European Real Estate Research, 2008-2019

Purpose The purpose of this paper is to analyze papers that have been published in the Journal of European Real Estate Research since its inception in 2008. Design/methodology/approach The author analyzes papers published from 2008 to 2019 in the Journal of European Real Estate Research by authors’ country of affiliation, by country of study and by theme. Findings The Journal of European Real Estate Research publishes papers from scholars from an increasing number of countries, in particular in Central and Eastern Europe. Papers that provide a comparative analysis of countries constitute the largest category of contributions. The three most popular themes remain housing, valuation and investment/portfolio management. However, the dynamics of the three categories differ notably. Originality/value This paper provides for a clearer understanding of key dimensions of real estate research in Europe.

Editorial

Welcome to volume five, issue two of the Journal of African Real Estate Research (JARER). As noted in the editorial of the first issue this year, JARER continues to be a significant medium through which research on African real estate markets is disseminated. We are witnessing an increasing trend in the rate of submissions and the review turnover timing is becoming more encouraging. Our appreciation goes to our reviewers and editorial board who have, despite the unforeseen challenges this year has brough, have dedicated their time and efforts to make this issue possible. We thank the board members of the African Real Estate Society, the Library services at the University of Cape Town, and Managing Editor, Luke Boyle from the Urban Real Estate Research, who has been working diligently in managing the publication process. In addition, we appreciate the support provided by IRES, ERES and Prof. Karl-Werner Schulte and his team from the IREBS at Regensburg University. The special issue focussing on showcasing real estate related research spearheaded by African women is progressing nicely. The special issue has attracted a number of submissions, mostly from new authors, and we are encouraged by the broadening support of the journal that this has demonstrated. Guest editors, Karen Gibler and Geci Karuri-Sebina, have worked tirelessly in coordinating the special issue and providing mentorship to the authors. Most of the articles are in their advanced stages and the issue is on track for publication before June 2021.

Property investment decision-making behaviour amidst market disruptions: an institutional perspective

PurposeDecision-making behaviour of property investors has been the focus of real estate research for decades. Yet, there is no consensus on a generally accepted behavioural model that suits all market conditions and investment peculiarities. While scholars have emphasized the significance of rational reasoning and cognitive influences on property investment decision-making preferences, gaps remain regarding the impacts of market disruptions on property investment decision-making behaviour. This paper, therefore, explores the institutional framework as a theoretical basis for understanding property investment decision-making behaviour amidst market disruptions.Design/methodology/approachThis paper reports a systematic review of pertinent theories that have explored decision-making behaviour. Commencing with an index search of high impact peer-reviewed journals, a snowball identification of relevant citations was also deployed to assemble theories from the field of psychology, sociology, economics and urban studies. Although a preliminary dataset of 82 papers with relevant decision-making theories was identified, the final dataset comprised 27 papers and 7 theories. The identified theories were reviewed accordingly.FindingsThe outcome of this study suggests that the institutional framework offers a robust approach to property investment decision-making amidst market disruptions, especially because it recognizes the dynamism in the investment environment and the roles of formal and informal rules that exist therein.Originality/valueThis study advances the current understanding of property investment decision-making behaviour by recognising the dynamism of the investment environment and how factors such as principles, laws, tradition and routines can lead to an established and legitimate standard of reasoning. By integrating both rational and cognitive attributes, the study provides a holistic perspective to property investors' decision-making behaviour in response to market disruptions.

The need for more research on the Asian real estate markets

PurposeThe Asian real estate markets have grown considerably in recent years and have taken on increased investment importance, particularly with significant developments in the emerging markets in Asia. This paper assesses the opportunities for more research on the Asian real estate markets, by highlighting the significance of Asia real estate, the drivers behind this growth and the unique opportunities this presents for high-quality real estate research, by both local researchers and their international colleagues. Strategies for delivering this research agenda are also identified.Design/methodology/approachThis research is based on a thorough understanding of the Asian real estate markets, based on my own research agenda, personal interactions, insights and extensive discussions with real estate leaders in the Asian markets. This is supported by a clear understanding of the real estate research opportunities in the Asian markets and the strategies needed to deliver this research agenda in an effective manner.FindingsA range of real estate research areas are identified to increase the level of Asian real estate research. This sees research opportunities around key areas such as market dynamics, real estate investment vehicles, alternate real estate sectors, infrastructure and sustainability. Strategies for expanding this level of research for both local and international real estate researchers are also identified.Practical implicationsWith the Asian real estate markets taking on more importance with many international real estate investors, it is important to see more high-quality research into these dynamic real estate markets. This research will see a fuller understanding of these Asian real estate markets to enable more informed real estate investment decision-making.Originality/valueThe need for more high-quality research into the Asian real estate markets is clearly presented, with enabling strategies to achieve this agenda identified. This will see expanded research opportunities to critically research these unique real estate markets and produce high-quality research publications.