rss_2.0Baltic Journal of Real Estate Economics and Construction Management FeedSciendo RSS Feed for Baltic Journal of Real Estate Economics and Construction Managementhttps://sciendo.com/journal/BJREECMhttps://www.sciendo.comBaltic Journal of Real Estate Economics and Construction Management Feedhttps://sciendo-parsed.s3.eu-central-1.amazonaws.com/647109672b88470fbea145f4/cover-image.jpghttps://sciendo.com/journal/BJREECM140216Modelling Stakeholders’ Capacity for Urban Housing Development: A Developing Country’s Perspectivehttps://sciendo.com/article/10.2478/bjreecm-2024-0001<abstract> <title style='display:none'>Abstract</title> <p>The main aim of the study was to model stakeholders’ capacity for urban housing development from a developing country’s perspective, using Zambia as a case study. The study used a quantitative methodology and recruited 214 respondents from various organizations concerned with the planning and development of human settlements in Lusaka, Zambia. The structured questionnaire used for data collection contained nine indicator variables informed by literature. The collected data was analysed using exploratory factor analysis (EFA) and confirmatory factor analysis (CFA), and goodness-of-fit was utilized to assess the acceptability of the model using a two-index technique. The findings revealed that stakeholders’ capacity is explained by four variables, namely: ensuring adequate staffing levels in institutional stakeholders; community empowerment in planning practices; development of essential construction skills; as well as provision of technical support to communities on housing. The paper recommends, among other things, the need to fully engage and build the capacities of communities so that they can effectively participate in housing development. The findings have practical implications for improving housing in the global south. It advances the promotion of capacity building as a prerequisite for driving housing development in line with the new urban agenda.</p> </abstract>ARTICLEtruehttps://sciendo.com/article/10.2478/bjreecm-2024-00012024-02-10T00:00:00.000+00:00Factors Influencing the Adoption of Smart Building and Service Preferences in Sri Lankahttps://sciendo.com/article/10.2478/bjreecm-2024-0002<abstract> <title style='display:none'>Abstract</title> <p>The notion of smart buildings is becoming a global trend. The smart concept is spread not only via buildings but also through cities, transportation, and communication. Many difficulties human beings face can be solved by smart building technology. For example, environmental contamination and resource depletion, such as water and fossil fuels. In Sri Lanka, smart building adoption was at a low level. As a result, the purpose of this research is to assess user comprehension of smart building service preferences and adoption from a Sri Lankan viewpoint. A questionnaire survey is used to obtain data from the community as part of the data collection approach. To achieve the objectives stated above, the data will be analysed using principal component analysis, multiple regression analysis, and Pareto analysis. Results indicated that the majority of Sri Lankans do not grasp smart building technologies. Using principal component analysis, eleven major service preferences were determined. Multiple regression analysis is used to identify the factors that influence service preference. The most essential elements impacting smart building adoption are competency to utilize new technology, preference for smart building attributes, and user satisfaction. This study would be an excellent resource for the future adoption of smart building technologies in Sri Lanka.</p> </abstract>ARTICLEtruehttps://sciendo.com/article/10.2478/bjreecm-2024-00022024-02-10T00:00:00.000+00:00Qualification of the Residential House Administrator in the Sustainable Housing Conservation Contexthttps://sciendo.com/article/10.2478/bjreecm-2023-0020<abstract> <title style='display:none'>Abstract</title> <p>Administration of residential houses, in accordance with legal regulations, is a complex process that includes different important functions. Such functions encompass performing regular maintenance, sanitary cleaning and required repairs, as well as thorough planning and organisation, strict documentation and monitoring. Moreover, administration of residential houses includes communication with residents and cooperation with public institutions to ensure protection of rights and interests of apartment owners. Professional administration of residential houses requires a complex, responsible and very specific approach, covering a wide range of complex works. Housing stock administration is a thoroughly elaborated process with specific schedules and goals. It covers not only maintenance of engineering works and the building, but also administration of the surrounding territory and common-use premises. Moreover, it covers a precise administration process and efficient communication with residents of the building, and solution of routine administrative cases. An administration contract with a specialist in this field is not just a means but a tool by using which owners of a residential house, i.e., apartment owners, fulfil the obligations stipulated by law with regards to efficient administration of the residential house. Choosing the right administrator is important for the owner because it determines the sustainable conservation cycle of the building. A person is eligible to perform administration tasks in a multi-apartment residential house, when having obtained the required professional education in administration of residential houses.</p> </abstract>ARTICLEtruehttps://sciendo.com/article/10.2478/bjreecm-2023-00202023-12-26T00:00:00.000+00:00Telework Trends in Europe: Who are Up-and-Coming, Leaders, Losing Ground or Laggards?https://sciendo.com/article/10.2478/bjreecm-2023-0019<abstract> <title style='display:none'>Abstract</title> <p>Telework in Europe has seen a significant surge, especially due to technological advancements and the COVID-19 pandemic. This paper focuses on the incidence and changes in telework in European countries before and after the COVID-19 pandemic and proposes a classification of European countries in terms of share of teleworkers and the rate of increase in teleworking. This classification provides insights into the varying stages of teleworking adoption across different European countries and can be used by practitioners, researchers and policy makers. Furthermore, we focus on Greece as a critical example of digital underachievement. The study uses data from the European Union Labour Force Survey (EU-LFS) and covers the European Union countries, Iceland, Norway and Switzerland. The paper shows that the pandemic significantly boosted remote work across Europe. However, the disparity in remote work adoption between regions within Europe remains significant displaying a divide between North-Western and South-Eastern Europe regarding remote work adoption.</p> </abstract>ARTICLEtruehttps://sciendo.com/article/10.2478/bjreecm-2023-00192023-12-18T00:00:00.000+00:00Exploratory Analysis of Securities and Contractors’ All Risk Insurance Implementation in the Construction Industry of Zambiahttps://sciendo.com/article/10.2478/bjreecm-2023-0018<abstract> <title style='display:none'>Abstract</title> <p>The risks associated with construction can be transferred to insurance. However, in the Zambian construction industry (ZCI), knowledge and use of insurance covers (performance security, advance payment, and contractor’s all risk insurance) have not been previously fully elucidated. The study was designed to cover this knowledge gap among professionals in government and private sector construction institutions, as well as insurance and financial institutions. Analysed data were approached quantitatively. Based on responses collected from 68 participants purposively sampled using a structured questionnaire as instrument, results were discussed and conclusion drawn. Private sector personnel headed the number of respondents and were more likely to have had five or more years of work experience than those of the Government of the Republic of Zambia (GRZ) institutions (86 % vs 36 %, <italic>p</italic> = 0.001). Approximately 88 % of the participants both in the public 33 % and private 67 % sector had knowledge about securities and contractors’ all risk insurance. There was variation in the use of different securities and contractors’ all risk insurance, with the lowest uptake being for retention bonds. Personnel from public institutions were more likely to have used CAR-insurance security in one or more projects than those from the private sector (100 % vs 47 %, <italic>p</italic> = 0.009). Participants also reported that they had valid securities and had successful implementation of securities with a variable level of compliance among different stakeholders. Finally, approximately half of the participants had effective systems for monitoring performance of securities, and a majority of the systems were said to be effective. Education of key players in risk management, formulation and enforcement of laws are necessary to ensure effective risk management practices.</p> </abstract>ARTICLEtruehttps://sciendo.com/article/10.2478/bjreecm-2023-00182023-12-07T00:00:00.000+00:00The Effect of External and Internal Factors on Management Effectiveness Within Indian Construction Companieshttps://sciendo.com/article/10.2478/bjreecm-2023-0017<abstract> <title style='display:none'>Abstract</title> <p>The aim of this study is to define and clarify the idea of improving management effectiveness within Indian construction companies. We conducted an online survey with an Indian construction company and used correlation analysis to thoroughly examine how both external and internal factors affect management effectiveness. The survey includes demographic questions, ratings on a scale of 1 to 5 for management aspects, ratings on a similar scale for internal and external factors, and ratings on a similar scale for potential improvement suggestions. With the help of descriptive statistics and frequencies, the mean efficiency values were calculated using SPSS and Excel to analyse the collected data. To establish links between the variables and the effectiveness of the company, correlation analysis was also carried out. The primary conclusions of the study highlight the critical importance of focussing on employee relations, meticulous tracking of work output, integration of technology, and adherence to established protocols as key factors in improving management effectiveness. The research also reveals significant problems with the management system, such as a preference for sanctions over incentives. It establishes that internal and external factors have equal weight in influencing management effectiveness, emphasising the need for an all-encompassing strategy that is flexible enough to support long-term advancement in construction company management practices.</p> </abstract>ARTICLEtruehttps://sciendo.com/article/10.2478/bjreecm-2023-00172023-12-01T00:00:00.000+00:00Technical Condition of Soviet-Era Apartment Buildings, Related Problems and Possible Solutions in Latviahttps://sciendo.com/article/10.2478/bjreecm-2023-0016<abstract> <title style='display:none'>Abstract</title> <p>More than half of Latvia’s population lives in Soviet-built, serial apartment blocks that have reached or are rapidly reaching the end of their useful life. The State Audit Office has acknowledged in its report that there is not an effective approach to housing security in the country, and the funds needed to renovate the buildings exceed the owners’ ability to pay. The main problems are the following: the actual technical condition of these buildings is unknown (technical studies are needed), there are no freely available management fee savings for residents to pay for fundamental studies and repairs or renovations, there is insufficient or difficult access to public support for improving energy efficiency and the overall technical condition of buildings. Apartment buildings are also one of the largest contributors to greenhouse gas emissions (36 %), a problem which is relevant in the context of the national climate targets for 2023. In order to establish the actual technical condition of the buildings and to develop the most affordable improvement solutions, it is necessary to carry out a technical investigation for each of the apartment buildings, identifying the problems specific to each series and individual to each building, taking into account the different conditions to which the buildings are exposed in their daily operation. Such an approach would allow for the development of standard solutions to the problems specific to each series, saving resources and ensuring a higher quality of renovation works. The question remains how to address the financial support needed for comprehensive technical studies and the development of standard solutions. Is the technical condition of apartment buildings only a problem for residents (apartment owners), property managers, municipalities or the government?</p> </abstract>ARTICLEtruehttps://sciendo.com/article/10.2478/bjreecm-2023-00162023-11-26T00:00:00.000+00:00Economic Crisis Adaptation in Sri Lankan Construction Industry: Pathway to Prosperityhttps://sciendo.com/article/10.2478/bjreecm-2023-0015<abstract> <title style='display:none'>Abstract</title> <p>The construction industry is a critical sector in the nation’s economic growth, accounting for a sizable share of GDP growth. However, it is the most vulnerable industry to a financial depression, whether local or worldwide. The present economic crisis has had an impact on the Sri Lankan construction industry, with more than half a million employees lost their jobs in the previous year. Many major construction firms have either paused or abandoned their projects and shifted to overseas construction. Therefore, understanding the consequences of financial crises regarding construction initiatives in Sri Lanka, as well as anticipated post-crisis growth paths in this sector, necessitates a thorough examination. The goal of this study is to extensively examine the consequences of the 2022 economic crisis on Sri Lankan construction projects and investigate remedies that might start a post-crisis rebound. The study utilized a mixed-method approach, combining quantitative and qualitative research methods. Purposive sampling was used to choose construction industry participants from various backgrounds in order to get a varied range of perspectives. The findings of this study not only emphasize the negative consequences of the crisis but also reveal prospects for development within the industry. The article offers construction professionals and other industry stakeholders useful insights about the foreseeable future of the country’s construction sector. The research looks at prospective growth areas such as the development of infrastructure, sustainable construction strategies, and the usage of emerging technology. The findings of the research can help to ensure that the sector has a robust and productive future.</p> </abstract>ARTICLEtruehttps://sciendo.com/article/10.2478/bjreecm-2023-00152023-11-09T00:00:00.000+00:00Variations in Building Construction Projects in Ghana: A Public Organisational Perspectivehttps://sciendo.com/article/10.2478/bjreecm-2023-0014<abstract> <title style='display:none'>Abstract</title> <p>The occurrence of variations in building construction contracts is a subject that needs some attention in public sector projects. They are, almost all the time, detrimental rather than beneficial variations. The paper aimed to identify the nature of variations in government-initiated building projects over fourteen years, from 2000 to 2014, in the Central Region and their impacts. Preliminary counts of documents revealed that a total of 348 projects were executed over the period. The data collection process started by first sorting out files, contract documents, and payment certificates for the period under consideration. These documents were scrutinised one after the other to detect possible variations. The inclusion criterion for selecting a project was if a project had any form of variation(s) recorded. After thoroughly examining these 348 project documents, 84 were found to have variations. The study identified additional works and substitutions as the most inherent variations in public building projects in the Central Region. About 85 % of the variations found in the 84 projects with various forms of variations were additional works and substitutions. It was revealed that the cost of multiple variations was higher than single variations. Projects with multiple variations had high percentage variation and durations than others. Percentage variation in some instances was 400 %. The study identified that multiple variations were more costly than single variations. The highest variation cost identified was (USD 211 864.41 or EUR 183 150.18) for one project. The study identified the nature of variations that usually occurred in government building projects and their association with both cost and time. The study asserts that the presence of multiple change orders has substantial financial significance and should be diligently avoided through efficient project initiation and planning.</p> </abstract>ARTICLEtruehttps://sciendo.com/article/10.2478/bjreecm-2023-00142023-11-01T00:00:00.000+00:00Factors Influencing Professional Indemnity Insurance Use in Construction Risk Managementhttps://sciendo.com/article/10.2478/bjreecm-2023-0013<abstract> <title style='display:none'>Abstract</title> <p>Despite convergence shown by different schools of thought on the correlation between efficient risk management practices and enhanced delivery of sustainable construction projects, the knowledge gap on the use of professional indemnity insurance (PII) is still persistent in Africa, particularly in Zambia. This paper examined factors influencing the use of PII to manage construction risks. It has identified the main factors influencing the use of PII, assessed their influence and respondents’ consensus level in the Zambia context. Data were collected qualitatively using a two-round Delphi survey. Ten field experts were selected, including construction professionals, contractors and surety providers. Experts’ opinion positioned premium and legal framework as highly influential with a median of within the range of 9 to 10; surety prequalification and stakeholders’ interest as being influential with a median equal to 7. Except for surety prequalification and stakeholders’ interest, which had weak consensus with an Interquartile Range greater than or equal to 2.75, the other six factors (surety service quality, surety, construction firm relationships, competition in the industry, and construction firm level of awareness) reached a good consensus with an Interquartile Range within the range of 1 to 2.75. Embedded with the ability to influence other factors, legal framework acts as focal point to improve access of PII and therefore needs adequate and contextualized amendments.</p> </abstract>ARTICLEtruehttps://sciendo.com/article/10.2478/bjreecm-2023-00132023-10-11T00:00:00.000+00:00Identifying Potential Household Waste as Secondary Raw Materials in the Construction Industry: A Case Study of Sri Lankahttps://sciendo.com/article/10.2478/bjreecm-2023-0012<abstract> <title style='display:none'>Abstract</title> <p>The construction sector contributes significantly to waste generation and resource depletion. Identifying potential household waste for reuse and recycling as secondary raw materials has emerged as a key technique for addressing these environmental concerns. This study uses the Colombo municipality in Sri Lanka to identify and evaluate household waste products having the potential to be reused as secondary raw materials in the construction sector. The study employs a mixed method for data collection and analysis. First, a questionnaire survey of industry experts was conducted to identify and assess the requirements for household waste that may be utilized in the construction sector, followed by a complete literature analysis to determine the reuse applications of potential household waste. The findings of this study will be useful in identifying and evaluating household waste items that may be recycled as secondary raw materials in the construction sector. It would also help to establish sustainable waste management techniques and circular economy practices in Sri Lanka. The study’s findings can help policymakers, waste management authorities, and stakeholders in the construction industry to implement effective waste management practices and promote the use of recycled materials in construction projects, reducing environmental impact and conserving natural resources.</p> </abstract>ARTICLEtruehttps://sciendo.com/article/10.2478/bjreecm-2023-00122023-10-06T00:00:00.000+00:00Assessment of Technical Capacity and Performance of Local Builders in Residential Building Construction Siteshttps://sciendo.com/article/10.2478/bjreecm-2023-0011<abstract> <title style='display:none'>Abstract</title> <p>This research aims to investigate the technical capability and performance of local builders on residential building construction sites in Gaindakot Municipality, Nepal. The construction industry plays a vital role in the growth of economies worldwide. The quality of construction heavily depends on the technical capacity and performance of builders involved in residential projects. This study aims to assess local builders’ technical competence and performance operating on residential building construction sites. By examining the capabilities of local builders, this research contributes to enhancing the overall quality and efficiency of residential construction projects. The research employs a mixed-methods approach, combining quantitative and qualitative data collection techniques. A comprehensive survey is administered to local builders to evaluate their technical knowledge, skill sets, and utilisation of modern construction techniques. Concurrently, on-site observations and interviews are conducted to gain insights into the actual performance of builders during different construction phases. The findings of this study shed light on the strengths and weaknesses of local builders in residential construction. The on-site observations and interviews offer qualitative insights into the practical application of skills, compliance with safety protocols, and adherence to project timelines. The outcomes of this research are intended to guide policymakers, industry stakeholders, and training institutions in formulating strategies to enhance the technical capacity of local builders. Bridging the identified gaps can improve construction quality, reduce project delays, and increase customer satisfaction. Additionally, the study emphasizes the need for ongoing professional development programs to keep builders updated with the latest construction techniques and standards.</p> </abstract>ARTICLEtruehttps://sciendo.com/article/10.2478/bjreecm-2023-00112023-09-21T00:00:00.000+00:00Virtual 3D Tour Assistance in Real Estate Managementhttps://sciendo.com/article/10.2478/bjreecm-2023-0010<abstract> <title style='display:none'>Abstract</title> <p>Over the past decades, more efficient real estate management opportunities have significantly expanded and improved. Complex methods, innovative techniques, and a constantly evolving spectrum of information technology have become readily available for common use. When managing real estate for short-term or medium-term rentals, planning, servicing, and ensuring accommodation quality are inseparable aspects, as is providing suitable housing. This process begins at the very first step when potential tenants request a viewing of the preferred property. The situation of the past few years demonstrated that the real estate business was one of the most affected economic sectors by the COVID-19 pandemic. Potential buyers or tenants could no longer physically visit and experience the space as before. Faced with this new reality, there was a need to find a tool to enhance the real estate management strategy by presenting the property. One such tool became the 360-degree photography and virtual tour. The aim of this study is to assess the practical applicability of 3D video tours and evaluate the advantages and drawbacks in short- and medium-term rental business.</p> </abstract>ARTICLEtruehttps://sciendo.com/article/10.2478/bjreecm-2023-00102023-09-16T00:00:00.000+00:00Assessment of Implementation of Circular Economy Framework in the Sri Lankan Construction Sectorhttps://sciendo.com/article/10.2478/bjreecm-2023-0009<abstract> <title style='display:none'>Abstract</title> <p>Concerns have been raised that the construction sector in both developed and developing countries has become a major environmental issue. This is mostly due to the excessive use of raw materials and energy sources. Moreover, the industry now follows the “take-make-dispose” linear economic paradigm. The circular economy idea was just brought to the sector based on the fundamental principles “reduce, reuse, recycle”, and yet the construction industry in Sri Lanka has failed to comply with this emerging framework. It is presently being debated throughout the world whether the 3R concept is adequate to achieve optimal industry sustainability. As a result, the 3R principles have lately expanded into a 10R framework. Consequently, the purpose of this article is to determine the possibilities and barriers to implement the 10R framework in the construction sector in Sri Lanka. The study was conducted using a qualitative research method. A semi-structured questionnaire was used to gather data and gain expert opinions on various options. This research takes a qualitative, in-depth look at how the 10R principles of circular economy might be applied to construction projects. Construction professionals may boost the ecological sustainability of building projects by using the recommended circular economy guidelines.</p> </abstract>ARTICLEtruehttps://sciendo.com/article/10.2478/bjreecm-2023-00092023-08-25T00:00:00.000+00:00Forecasting Real Estate Prices in Romania: A Lag Optimized Linear Approachhttps://sciendo.com/article/10.2478/bjreecm-2023-0008<abstract> <title style='display:none'>Abstract</title> <p>This study focuses on the real estate market in Romania and presents a forecasting model for predicting future real estate prices. The model, based on multiple linear regression, provides a comprehensive understanding of the market and enables real estate analysts to devise more efficient investment strategies. By enhancing investment efficiency, the model contributes to the overall efficiency of financial markets and supports sustained economic benefits for stakeholders. Although limited to a specific timeframe and apartment auction markets in Romania, future research can expand the model’s scope, improve accuracy through diverse data sets, and explore key factors for enhanced performance. The study’s contribution lies in its valuable insights for real estate analysts, enhancing investment efficiency, and fostering sustained economic benefits for stakeholders.</p> </abstract>ARTICLEtruehttps://sciendo.com/article/10.2478/bjreecm-2023-00082023-08-04T00:00:00.000+00:00Study of the Impact of Housing Affordability on the Fertility Rate in Bulgaria (2014–2021): A Regional Aspecthttps://sciendo.com/article/10.2478/bjreecm-2023-0007<abstract> <title style='display:none'>Abstract</title> <p>The present study is devoted to the influence of housing affordability on the fertility rate in Bulgaria. Both data published by NSI and data obtained by individual request were used. Housing affordability is a factor and is represented as the ratio of the average price of a 70 m<sup>2</sup> apartment and the average gross salary of an employed person, as well as the ratio of the average housing price and the average income per person in a household. Fertility has the role of an outcome variable and is represented by the gross fertility rate, average age of the mother at the birth of the first child and at the birth of a child, number of live births by age of the mother and total fertility rate. Such lag values of the factor variable were used due to the long period from the moment of availability of housing to its acquisition, completion, furnishing and commissioning, and the long biological period from the decision to implement reproductive intentions to the birth of a child. The Pearson correlation coefficient was used to assess the direction and strength of the relationship. A strong negative relationship is found between housing affordability and fertility rate, except for the relationship with the total fertility rate, which is weakly positive. The change in the lag has a minimal effect on the value of the correlation coefficients. Therefore, a conclusion can be made that children are mostly born where housing affordability is low and parents are forced to raise them in unsuitable housing conditions.</p> </abstract>ARTICLEtruehttps://sciendo.com/article/10.2478/bjreecm-2023-00072023-07-05T00:00:00.000+00:00Assessment of the Influence of on-Campus Housing Quality and Facilities on Students’ Academic Performance at the Federal University of Technology, Akure, Nigeriahttps://sciendo.com/article/10.2478/bjreecm-2021-0002<abstract> <title style='display:none'>Abstract</title> <p>The management of federal universities in Nigeria has not taken the issue of students’ housing provision as a priority. Hence, demand for on-campus housing accommodations far exceeds the supply and this resulted in the majority of the students living in private residences characterised by poor facilities. This study, therefore, assessed the housing quality and facilities in the undergraduate student’s hostels at the Federal University of Technology, Akure, Nigeria to investigate its suitability for learning and research. A simple random sampling technique was used for the study. Data were collated from both primary and secondary sources. The data collected were analysed using frequency tables and weighted mean scores for estimating the Housing Quality Indices (HQI) according to a 5-point Likert scale. The academic performance of the occupants before and after moving to the university hostel was equally investigated using a regression analysis to test if a relationship exists among the housing quality, the quality of facilities provided and the academic performances of the students. The result revealed a positive relationship between the academic performance of the students and the quality of housing facilities. A comprehensive maintenance programme of the students’ accommodation within the university campus is recommended for higher academic performance. The study contributes to the body of knowledge in academic performance of students, developing and managing students’ accommodation quality at higher education institutions.</p> </abstract>ARTICLEtruehttps://sciendo.com/article/10.2478/bjreecm-2021-00022021-02-24T00:00:00.000+00:00Affordable Housing for Young Adults in Latviahttps://sciendo.com/article/10.2478/bjreecm-2021-0004<abstract> <title style='display:none'>Abstract</title> <p>The topic is related to the need for housing as a social need for every member of society and its inaccessibility, mainly due to lack of finance. Housing affordability is a concept that indicates whether households are able to purchase or rent a home, maintain it and cover other non-housing expenses. Housing is one of the most important basic human values, but in the housing market, young households, whose incomes tend to be lower and more volatile, often face difficulties in finding affordable housing. For this reason, young adults are often considered high-risk tenants. Uncertainty in the rental market, restrictions on buying a home, and financial difficulties have a significant impact on young people’s ability to buy or rent their own home and often lead to short-term renting and regular housing changes. Various events that have a significant impact on the national economy, e.g., the financial crisis, have affected all the population in different countries over time, but it is believed that these events have had the most significant impact on young people’s living standards and on the level of housing affordability for youth. Therefore, it has been decided to evaluate the economic situation in the European Union, to analyse the socio-economic indicators for young people aged 20 to 34 years, and to study the concept of housing affordability both in Latvia and in the EU. The goal of the research is to analyse the possibilities of increasing the housing affordability for youth.</p> </abstract>ARTICLEtruehttps://sciendo.com/article/10.2478/bjreecm-2021-00042021-05-24T00:00:00.000+00:00Research in the Field of Enterprise Managementhttps://sciendo.com/article/10.2478/bjreecm-2021-0005<abstract> <title style='display:none'>Abstract</title> <p>The need for a competitive enterprise to comply with the requirements of a market economy obliges it to constantly improve both technologically and organisationally. The basis of organisational innovation is the study of organisation management systems – activities aimed at the development and improvement of management in accordance with constantly changing external and internal conditions. Improving the management of modern dynamically developing enterprises, as socio-technical systems, requires the study of their properties, which is associated with solving the problem of performing research at a high scientific and methodological level. The article is devoted to the principles, methods and problems of these studies.</p> </abstract>ARTICLEtruehttps://sciendo.com/article/10.2478/bjreecm-2021-00052021-05-24T00:00:00.000+00:00The “New Normal” in Mortgage Lending and Its Impact on Default Probabilitieshttps://sciendo.com/article/10.2478/bjreecm-2021-0011<abstract> <title style='display:none'>Abstract</title> <p>The paper analyses the evolution of the use of subprime loans and the availability of credit to different classes of borrowers. It examines the time period from 1980 to 2008 as a whole, as well as the changes in credit profiles in five sub-periods. By tracking borrower characteristics and their impact on foreclosure probability over time it determines what went wrong and how policy can be developed that prevents a repeat of the housing crisis that began at the end of 2006. The findings suggest that over the sample period debt to income, FICO score and loan-to-value are significant determinants for the probability of foreclosure and their importance increases over time. Furthermore, some borrowers are three times more likely to default on a loan originated between 2001 and 2006 than a loan originated between 1980 and 1994 indicating a distinct difference in lending terms and the general lending environment over time.</p> </abstract>ARTICLEtruehttps://sciendo.com/article/10.2478/bjreecm-2021-00112021-10-05T00:00:00.000+00:00en-us-1