rss_2.0Baltic Journal of Real Estate Economics and Construction Management FeedSciendo RSS Feed for Baltic Journal of Real Estate Economics and Construction Management Journal of Real Estate Economics and Construction Management 's Cover Real Estate Rental Variation in Ilorin, Nigeria<abstract> <title style='display:none'>Abstract</title> <p>The goal of any real estate investor is to maximize return. This can be achieved through the generation of rental income. Thus, it is pertinent that the nature and characteristics of rental value are understood by investors to enhance real estate market penetration. This study examined commercial real estate rental variation in Ilorin, Nigeria, with specific focus on commercial complexes. For data collection, the study area was delineated into three commercial zones. Primary data for the study were collected from occupiers of commercial complexes and property valuers operating within these areas through structured questionnaire, based on purposive sampling technique. The study utilised an analysis of variance (ANOVA) technique to analyse the variation in rental values of commercial complexes in the study area. Results of data analysis revealed a statistically significant variation in rental values of commercial complexes in the study area (<italic>F</italic> ꞊ 16.70809, <italic>p</italic> ≤ 0.05) and an increasing trend of the rental values over the years under study as indicated by the rental index. This variation is perceived to be caused by the safety and quality of location, building visibility and lease term (<italic>RII</italic> ꞊ 0.97, 0.93 and 0.88, respectively). The study recommends that real estate investors should consider these factors when investing in commercial complexes across the commercial zones in Ilorin.</p> </abstract>ARTICLE2022-09-12T00:00:00.000+00:00Impact of Work-Related Musculoskeletal Disorders Among Construction Workers in Ghana<abstract> <title style='display:none'>Abstract</title> <p>The construction industry is known for its task-related risks and hazards contributing to occupational stress and musculoskeletal disorders (MSDs). The study sought to identify the impact of MSDs among concrete mixer operators and workers in the construction industry in the Central Region of Ghana. The population for the study was made up of 28 concrete mixer operators and 187 workers. Out of the 215 questionnaires administered, 206 questionnaires were returned which represented 95.8 % of the response rate. Descriptive statistics and Relative Importance Index (RII) were used for the data analysis. Findings show that most of the workers were young males and worked for a longer period a day. Force movement, repetition, awkward bending and fixed body postures were the major factors leading to the development of MSDs and contributed to frequent absenteeism and poor performance of workers. Further findings show that back pain, waist pain and shoulder pain were the major self-reported MSD complaints. Risk assessment should be conducted on all site hazards and ergonomic tools/equipment should be introduced to reduce the impact of MSDs on workers.</p> </abstract>ARTICLE2022-08-02T00:00:00.000+00:00System Dynamic Theoretical Framework for Construction Management: A Case of Baltic States<abstract> <title style='display:none'>Abstract</title> <p>As a result of the rapid development of the construction industry, in recent years, research has increasingly used system dynamics (SD) modelling to determine the positive and negative causal feedback in various management processes. Given SD diverse approach to the management of construction companies and projects, it would be necessary to develop a framework for a system dynamics model (SDM) incorporating the main processes of the Baltic States by identifying and providing a systematic understanding of their distribution. Using literature analysis, this study provides the results of 79 selected scientific literature sources from 1991 to 2020. The obtained information is structured according to the annual volume of publications, country of affiliation, the most successful authors and the most popular scientific journals on the topic of the SD. With the assistance of bibliometric analysis and co-occurrence of keywords, system dynamics management processes in construction companies were structured, choosing the following separate elements: (1) project planning, (2) project management, (3) risk management, (4) project performance, (5) project productivity, (6) sustainability. Using a systematic approach, according to the framework of the model, the characteristics of each management process were classified and identified, dividing them into subgroups. The results of the analysis show that the overview of some SD components or processes is mostly provided, which emphasises its aspects and usability in company management, thus indicating the need to identify the framework of the process module. The introduction of the SD process framework in the company would gradually create a competitive advantage in market conditions.</p> </abstract>ARTICLE2022-06-06T00:00:00.000+00:00Development of the Construction Industry and Its Interconnection with the Development of National Economy of Sri Lanka<abstract> <title style='display:none'>Abstract</title> <p>The construction industry forms an important part of any economy, and development of the construction industry could be of high significance for economic development. The construction industry includes the production of construction objects, consumption of resources, investment that contribute to the creation of employment places and also to the economic development of Sri Lanka. The aim of the research is to analyse the development trends of the construction industry and its interconnection with economic development in Sri Lanka. Particular focus of the research is placed on interconnection between the construction industry and economic development. Historical analysis, logical access and other methods have been used in the research. The analysis includes theoretical and practical aspects: actual tendencies and historical overview.</p> </abstract>ARTICLE2022-05-16T00:00:00.000+00:00Effect of Distance to Train Station and Mobile Coverage on Land Value: A Case of Tax Valuation in Oreamuno, Costa Rica<abstract> <title style='display:none'>Abstract</title> <p>In Costa Rica, a land tax valuation model provided by the Technical Standardization Body (ONT) of the Ministry of Finance is used. This model considers homogeneous areas that include properties with similar characteristics and review factors that have not been recently updated. The objective of this article is to determine the effect of the distance to the train station and mobile coverage on the value of land in Oreamuno, Costa Rica, as a proposal to be included in the mass valuation model of the ONT. A multiple regression econometric model was used to establish the functional relationship between the value of the property and its characteristics, through the Ordinary Least Squares (OLS) method, using 10 variables applied to 200 references initially. The results allow demonstrating that other variables such as “Distance to the train station” and “Mobile coverage” are representative for determining the value of properties, in addition to those commonly used by the ONT model. The research allows concluding that the land valuation models should be updated periodically and should include variables related to improvements in technology and access roads, since these increase the market value of properties and improve the social development of localities in study.</p> </abstract>ARTICLE2022-05-06T00:00:00.000+00:00Investigating the Benefits and Barriers of Quality Assurance Management for Adequate Housing Delivery in Nigeria: An Empirical Overview<abstract> <title style='display:none'>Abstract</title> <p>Purpose: The process of housing delivery all over the world is confronted by multiple barriers resulting in houses that are short of clients’ expectations in terms of quality and overall standards. The inability of the house builders (contractors) to deliver quality housing normally occurs due to non-conformance to quality assurance principles and non-adherence to the key quality indicators. An assessment of recent developments and actions in the building industry that might help mitigate the identified barriers has been made in this study. Hence, skilful application of quality assurance principles to overcome quality barriers in housing delivery is essential. Methodology: The study has employed quantitative methods of data collection. Closed-ended questionnaires have been prepared and administered to building contractors in Akure, Nigeria. The collected quantitative data have been analysed with the aid of SPSS software, version 27. The results have been accordingly reported to ascertain the level of commitment made by building contractors on ensuring quality in housing delivery in Akure. Findings: Findings have revealed that building contractors are well conversant and knowledgeable about the probable benefits of implementing quality assurance in the housing delivery process. There are, however, obvious challenges and serious barriers that are militating against effective implementation of quality assurance measures in the housing delivery process such as engaging unskilled labour force. Recommendation: The study recommends that a pre-assessment of the workforce be made to establish their level of knowledge and competencies on quality assurance management principles. <italic>Originality and value</italic>: Creation of “quality assurance consciousness” for the housing industry will result in quality housing delivery to the satisfaction of all end users and the general public.</p> </abstract>ARTICLE2022-04-18T00:00:00.000+00:00Failure Case of Earned Value Method (EVM): The “Absurd” of the Use of Management & Contingency Reserves Budgeting<abstract> <title style='display:none'>Abstract</title> <p>The object of the research focuses on the use and application of the management reserves and contingencies of the hierarchical structure of the Earned Value Management System framework. The study explores logical failures of the method, which do not seem to have been recorded in the international literature. These failures do not seem to have been perceived, although they relate to variables that they identify and must ensure the accuracy of the results of the method, in the way this method is executed in application of EVMS standard/EIA 748. The derived failure of these variables leads to incorrect qualitative and quantitative calculation of Earned Value Method (EVM) calculations. Spoiled results in terms of the accuracy of their algebraic prices lead to erroneous and possibly more costly decisions by the actors in the production process; especially when it comes to borderline situations. Because of these failures, both the on-schedule handover time and the size of the expected rate of profit (IRR) on the part of the entrepreneur do not seem to be accurately predicted or measured at the end of the production process/handover. The cause is structural. It derives from the logic and the correlation of the individual components of Budget Element hierarchy. The study focuses on the logical contradictions and conceptual failures of the method. The author aims to highlight these specific failures with the purpose of achieving more effectively the uncertainty management and determining more accurately the risk algebraic value. Henceforth, the user is provided with an improved ability to manage the resources of the construction. This is ensured by the scientifically more accurately documented measurement of the production time and the construction cost of the technical project.</p> </abstract>ARTICLE2022-04-05T00:00:00.000+00:00Construction Safety Management Report for High-Rise Buildings<abstract> <title style='display:none'>Abstract</title> <p>Due to the current rapid economic development, all walks of life have also achieved considerable development. Among them, the construction industry is particularly prominent. In the process of modern city construction, high-rise and super high-rise buildings are more and more common. As we can see, there are a lot of accidents happening at the construction site. In order to find the CSFs for safety management, the author uses SPSS software to collect the data from survey and then performs an analysis. This way, the key factors have been found to affect the safety management. In the meantime, the case study is used to verify the key factors and get the correlation between different CSFs. In order to reduce the possibilities of safety problems at construction sites and propose some suggestions to existing problems, the author combines the current situation and CSFs. The aim of the article is to help companies manage construction sites more efficiently, thus promoting the healthy development of the construction industry in Poland.</p> </abstract>ARTICLE2022-03-16T00:00:00.000+00:00Assessment of Land Speculator’s Operation for Land Accessibility in Nigeria<abstract> <title style='display:none'>Abstract</title> <p>Land speculation is a form of investment for future gain in form of appreciation in land value. Previous studies on land speculation have failed to examine the operations of land speculators but rather focused on negative impact of land speculation. This study fills this gap by evaluating the operation of land speculators. A hypothesis is tested in addition to four specific objectives. The 21 land speculators with physical presence in five local governments neighbouring Lagos State, Nigeria, have been surveyed using questionnaires. Data gathered have been analysed using frequency distribution table, relative importance index (RII), ranking and linear regression. Findings of the study reveal that family is the major source of land acquisition. Also, land speculation activity is not regulated in the study area. The study reveals that the majority of the speculated land is not covered by a state recognised title. The most prevalent activity of the land speculators in the study area is apportioning land into plot with RII of 0.962. Also, land speculation is mostly financed using equity with RII of 0.895. Profiteering from business is the highest ranked motivation with RII of 0.914. The highest ranked perceived consequence from land speculator’s perspective is an increase in land price with RII of 0.914. The study hypothesis H0 stating that there is no significant impact of land speculation on land accessibility has been rejected and an alternate hypothesis has been accepted as it has been established that land speculation has a significant impact on land accessibility which means that land speculation is a major hindrance to land accessibility. Assessment of land speculator’s operation reveals their awareness of the negative consequences of their actions. However, they are motivated by anticipated proceeds from the venture.</p> </abstract>ARTICLE2022-03-16T00:00:00.000+00:00Construction and Real Estate Sustainability Management: Costa Rican Prospects 2016–2021<abstract> <title style='display:none'>Abstract</title> <p>Population growth has increased climate impact and it is one of the reasons for the conception of sustainable management. Sustainability management has become an integral part of the business environment and decision-making processes. It is important to mention that construction sectors represent one of the main polluters. This article introduces the path for Costa Rica in the last five years in terms of development and the increasing number of companies with green building certification. Interviewing the professionals with vast experience in the sustainable sector is the tool used to compile the current situation of Costa Rica and the journey through this path as a pioneer in Latin America and the Caribbean. The study explores the situation lived by the companies in Costa Rica to set their projects according to the regulations established by the authorities in the sustainable management field and examines the position of the governmental authorities as a barrier or a facilitator. Therefore, this article aims to contribute to the discussion about the status of sustainability management in Costa Rica in the last five years as the scope of the investigation.</p> </abstract>ARTICLE2022-02-27T00:00:00.000+00:00Assessment of the Influence of on-Campus Housing Quality and Facilities on Students’ Academic Performance at the Federal University of Technology, Akure, Nigeria<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>ARTICLE2021-02-24T00:00:00.000+00:00Affordable Housing for Young Adults in Latvia<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>ARTICLE2021-05-24T00:00:00.000+00:00A Spatiotemporal Analysis of Urban Densification in an Organically Growing Urban Area<abstract> <title style='display:none'>Abstract</title> <p>Urban densification has attracted much attention in recent times, particularly in addressing certain urban problems such as urban sprawl and promoting compact development, though problems of unplanned densification are yet to be addressed in the literature. This paper examines space and time dynamics of urban densification, where patterns and changes in the residential densification of Bida urban area in Nigeria are assessed. The study relied on point features representing buildings for the years 2008, 2013, and 2018 digitized using ArcGIS 10.6. The data were analysed using Point Density spatial method to develop the spatiotemporal models which were further reclassified into three categories: low, medium, and high densities, respectively. The paper has found out that residential densities increase along the urban-rural gradient with clear evidence for unplanned urban densification as a result of the organic growth. Therefore, there is the need for planned densification in urban development which can curb the increasing residential density that reduces green and open spaces.</p> </abstract>ARTICLE2021-07-16T00:00:00.000+00:00The Effect of Covid-19 on the Real Estate Industry in India<abstract> <title style='display:none'>Abstract</title> <p>The world economy seems to be experiencing one of the most severe downturns in recent memory. The latest pandemic has had a detrimental effect on the economies of several nations, including India. The International Monetary Fund forecast India’s growth rate at 1.9 % for fiscal year 2021, down from 5.8 % previously. This poses a significant challenge to the Indian economy. The resumption of work was complicated by the workers’ surprising return to the employers from underground. Developers struggled to locate enough job-creating jobs due to the labour market severe constraints. The populace is burdened by the great pestilence that threatens the nation. Indian real estate, which was still emerging from the implications of demonetization (November 2016) and other changes, was jolted by this pandemic, with building development halted and real estate transactions paused. Indian real estate should plan itself for a post-COVID-19 environment and be prepared to take several new and technology-driven moves to get back on track. The secondary data research methodology is used in this paper and the aim of the research is to discuss the pre-pandemic real estate market and the effect of COVID-19 on the Indian real estate market. Additionally, it discusses the risks and prospects confronting various real estate industry participants.</p> </abstract>ARTICLE2021-09-01T00:00:00.000+00:00Foreign Direct Investment Legislation: A Precondition for Creating a Favourable Investment Climate in the Case of Kosovo<abstract> <title style='display:none'>Abstract</title> <p>Foreign direct investment (FDI) represents a significant impetus for sustainable economic growth and development. From the context of the importance that FDI carries as the transfer of knowledge, experience, employment growth and development of human capital, its attraction definitely requires a proper legal basis, namely, the implementation of the law and the proper functioning of judiciary. The main aim of this study is to elaborate the legislation on foreign direct investment in Kosovo and to analyse FDI in Kosovo over the years. This study is based on local literature, specifically the interpretation of the current law on FDI in Kosovo and international literature to examine the effects of legislation on a business climate. This study is descriptive, comparative and analytical, based mainly on secondary data provided by the World Bank indicators on FDI in Kosovo over the years. Kosovo as a young, post-war state has drafted a number of reforms in the economic field and in the field of law enforcement and judiciary, but undoubtedly the current law governing strategic investments has room for improvement, thus, must be enforced in order for investors to feel safe while operating in Kosovo. This study also concludes that Kosovo is attractive for foreign investors due to the increasing rate of GDP, labour market conditions, high rate of degree holders complying with labour market requirements. The study goes further with recommendations on supplementing the current law versus the European FDI legislation. The major implication of the study is the comparative analysis of Kosovo’s law in regard to the EU Law on FDI.</p> </abstract>ARTICLE2021-03-23T00:00:00.000+00:00Structural Equation Modelling for Establishing Empirical Relationship Between Organisational Innovativeness and Sustainability of Construction Firms in Nigeria<abstract> <title style='display:none'>Abstract</title> <p>The quest to implement innovative practices that will lead to a high level of sustainability at the firm level within the construction sector cannot be overemphasised. The aim of this study is to establish the empirical relationship between organisational innovativeness and sustainability of construction firms using a structural equation modelling approach. The study has adopted a survey approach and 1179 copies of structured questionnaire have been administered to construction firm representatives. A total of valid 980 copies of questionnaire have been received giving a response rate of 83.2 %. Data collected have been analysed using descriptive statistics and structural equation modelling. The correlation coefficient (β = 0.81) shows that organisational innovativeness positively influences the sustainability of construction firms. The study reveals that 66.1 % of the variability in the overall sustainability of construction firms operating in the Niger Delta region of Nigeria is accounted for by the implementation of innovative practices by the construction firms. It is concluded that 67.1 %, 83.8 % and 45.7 % of the variability in the construction firm’s social, environmental and economic sustainability, respectively, are explained by the implementation level of innovative practices by the top management teams of the firms. In line with the findings, this study concludes that efficient implementation of innovative practices at the firm level has a significant and positive influence on the overall sustainability of construction firms.</p> </abstract>ARTICLE2021-01-29T00:00:00.000+00:00Impact of COVID-19 Pandemic on Tenancy Agreement: The Lesson from an Emerging Rental Housing Market in Nigeria<abstract> <title style='display:none'>Abstract</title> <p>The study aimed at evaluating the contents of tenancy agreement entered into between lessors and lessees in Osogbo, Owode-Ede and Ede Metropolis in Osun State (Nigeria) from 2011 to 2020 in order to determine its adequacy in the face of the Post-COVID-19 pandemic in Nigeria. A questionnaire survey approach was adopted to achieve aim of the study. Findings of the study revealed steady dwindling of rental market transactions with deteriorating landlord/tenant relationship caused by disagreement on tenancy agreement related issues leading to default in rent payment, rent review period and renewal. Findings also indicated a low ebb experience in the rental market due to the economic downturn resulting from, among other factors, the lockdown policy, which impoverished Nigerians to the extent of struggling to make ends meet. The study further found that 86.3 % of the tenancy agreements were inadequate in content and execution as basic tenants’ remedial provisos were not included in most of the agreements. The study provided pertinent information that could be used as baseline information for tenancy agreement preparation, enhancing landlord (lessor) and tenant (lessee) relationship, and guiding rental real estate investment decisions in Nigeria.</p> </abstract>ARTICLE2021-06-20T00:00:00.000+00:00Occupational Health and Safety Practices in Cape Coast Metropolis<abstract> <title style='display:none'>Abstract</title> <p>The rate of construction accidents in the Ghanaian construction industry is not encouraging. The study sought to identify the factors affecting the effective health and safety practices in the construction industry within the Cape Coast Metropolis. Purposive sampling technique was used to select the construction firms and ‘Yamane formula’ to arrive at the number of respondents (44) for the study. Structured questionnaires were distributed among site engineers, site supervisors, safety officers, quantity surveyors, foremen, chief masons and chief carpenters. Statistical Packages for the Social Sciences (SPSS) was used for the data analysis and results were presented in a form of descriptive and inferential statistics. Findings show that the level of health and safety practices within the Metropolis was high and the factors that affected the implementation of health and safety programmes were severe among the firms. Few of the company’s health and safety programmes were effective and this calls for the strengthenig of the construction sector policy by the ministries responsible for implementation.</p> </abstract>ARTICLE2021-08-13T00:00:00.000+00:00Optimising the Awareness of Benefits of Sustainable Construction Practices in Nigeria<abstract> <title style='display:none'>Abstract</title> <p>Awareness of the benefits of sustainable construction practices has been acknowledged as the fundamental principle that underlies its implementation. This survey study examined the level of awareness of the benefits of sustainable construction practices among building construction stakeholders and the strategies for optimising the awareness level through the use of questionnaire. The Mann–Whitney <italic>U</italic> Test result revealed that there was significant difference in the awareness level of benefits of sustainable construction practices between building professionals and non-professionals, in spite of a general moderate high level of awareness; due to difference in the training background and experience of the professionals and non-professionals. The Relative Importance Index (RII) result further showed that these differences could be narrowed through the adoption of 12 strategies for promotion of awareness. For maximum optimisation, the study suggested that six high level importance strategies had to be operationalised. However, when these are not readily available or very difficult to apply, alternative medium-high level importance strategy could be adopted. Thus, since non-professional stakeholders such as clients and non-professional contractors do not have opportunity of learning as professionals, the study suggested that the professionals should engage in such strategies as community or professional group engagement and local partnership with the non-professional stakeholders so as to create an interface that would promote awareness of benefits of sustainable construction practices among the stakeholders. Similarly, relevant authorities, such as government agencies and regulatory bodies need to embark on other alternative strategies such as advertisement promotion, etc.</p> </abstract>ARTICLE2021-06-14T00:00:00.000+00:00Research in the Field of Enterprise Management<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>ARTICLE2021-05-24T00:00:00.000+00:00en-us-1