Purpose This study aims to examine the housing preferences of low-income households living in informal settlements in Addis Ababa, Ethiopia and the conditions under which affordable housing options are accepted. Design/methodology/approach A discrete choice experiment was conducted among 405 households in two inner-city informal settlements in Addis Ababa. Respondents evaluated hypothetical housing alternatives characterized by rent, location, housing size, floor level and relocation arrangement. A panel mixed multinomial logit model was used to estimate housing preferences, preference heterogeneity, attribute importance, willingness-to-pay and predicted housing acceptance probabilities. Findings Location and rent are the most influential determinants of housing choice, with respondents showing a strong preference for centrally located and lower-rent housing units. Smaller housing units are generally less preferred, while floor level and relocation arrangements have relatively limited influence on housing choice. The results also reveal important differences across households, with lower-income households being more sensitive to rent increases, larger households showing stronger preferences for larger units and older residents being less willing to live on higher floors. Originality/value To the best of the authors’ knowledge, this study is among the first to examine housing preferences among extremely low-income households in Sub-Saharan Africa using a discrete choice experiment. It provides rare demand-side evidence from informal settlements and offers policy insights for housing and redevelopment in rapidly urbanizing cities.
Purpose Population aging in Europe is reshaping housing demands and care systems, creating an urgent need for alternatives to traditional eldercare. In Spain, where demographic trends mirror those of other developed nations, senior cohousing offers a potential solution to isolation, affordability and autonomy challenges. This article aims to analyze older adults’ preferences regarding senior cohousing models and assess factors influencing their attractiveness. The research addresses three questions: (1) What housing formats do seniors prefer for retirement? (2) What factors facilitate or hinder the appeal of cohousing? (3) Which design attributes are most valued in senior communities? Design/methodology/approach Using Conjoint Analysis on survey data from 300 individuals aged 50+, the study evaluates four attributes: housing format, location, management model and payment system. Findings Results show a strong preference for detached houses or low-rise apartments in coastal areas, managed cooperatively and offering flexible pay-per-use schemes. While aging in place remains dominant, senior cohousing emerges as a promising model aligned with active aging strategies. Institutional support and participatory design are essential for scalability and adoption. Originality/value Its original contribution lies in applying a stated preference approach to a scarcely explored topic in Spain, focusing on consumer choice behavior rather than case studies.
Purpose This study aims to investigate the relationship between the rental and sales segments of the housing market of the city of Rome (Italy), examining the factors influencing each sector. While renting and buying follow distinct market logics, both respond to shared social, economic and demographic dynamics. Identifying where these mechanisms align - or diverge - is crucial to understanding household and investor decisions.Design/methodology/approach To successfully achieve the mentioned goal, a methodological approach able to define two separate evaluation models (called BUY model and RENT model) for the identification of the most influencing factors on specific-segment dynamics and the the quantification of the relative marginal contribution of each regressor on selling prices/rents is proposed. With reference to the case study, two comparable data sets are elaborated: one for on rental properties and one for on sale properties located in the same geographical context, including intrinsic characteristics generally taken into account by buyers and tenants in negotiation phases. The analysis applies twice an econometric data-driven modelling technique that identifies functional relationships without predefining a mathematical form.Findings Results indicate that several attributes - such as property maintenance state, floor area, lift availability, energy label, property type (apartment), presence of terrace and photovoltaic systems - affect both markets, though not always in the same manner. Some characteristics, however, are market-specific: long-term structural factors predominantly shape selling prices, whereas short-term comfort and service-related amenities are more influential for rents.Practical implications This study highlights how buyers and tenants show different market appreciation to similar housing features and underscores the advantages of the proposed flexible methodological approach in capturing nuanced market behaviours to orient both private investment strategies and public housing policies.Originality/value This study provides an original contribution by jointly analysing the rental and sales housing markets within the same urban context, focusing on Rome. Unlike most studies that investigate these segments separately, it develops two parallel econometric models (BUY and RENT) based on comparable data sets to identify and compare the determinants of selling prices and rents. The research also adopts a flexible data-driven modelling technique that identifies functional relationships without imposing a predefined mathematical form, allowing the estimation of the marginal contribution of housing attributes.
Purpose This study aims to examine the housing affordability crisis and possible bubble risk, focusing on the period from 2013 to 2024. This study contributes toward the literature on the topic of housing affordability in emerging markets, by combining the longitudinal and integrative perspective offered on the topic. This study previously have typically been implemented either in a macroeconomic approach as price-to-income ratio and risk of bubble or in a microbehavioral approach which focuses on the affordability perception and household financial stress. The study, however, examines the interaction between objective market conditions of the housing market and matter of subjective housing unaffordability perceptions. Design/methodology/approach This paper takes a two-tiered approach, involving a macroeconomic analysis of the market environment and microlevel behavioral knowledge. At the macrolevel, the study evaluates such important economic variables as housing prices, interest rates and household debt and risks of speculative bubbles. At the microlevel, the paper investigates the financial stress, perceived affordability, purchasing power and the intentions of young working populations in the region to purchase a home. Findings The results indicate that although the prices of houses have been on the upswing, there are strong psychological impacts of financial stress that affect how the potential buyers make buying decisions. This combined strategy exposes that the imbalances of the housing market in the form of high prices to income are some of the factors contributing to the affordability and high speculative risks. Research limitations/implications For the primary data, the current study relies on self-reported measures for some fundamental constructs like financial stress and perceived affordability. Though the measures are quite common in behavioral research as well as research in housing, there is always a chance of a response bias or individual over emphases. The analysis in the research has exclusive coverage on young working adults within the Klang Valley and hence the findings are limited to a limited group of people and space. Practical implications The study offers supportive evidence to the policymakers, and this is that the problem of affordability can be tackled by not just intervening in the market but by financial literacy interventions as well to help lessen the impact of financial stress on the intentions of home ownership. Social implications The issues of housing affordability have far-reaching consequences at the societal level, including financial health, social mobility and generational equity. In the younger generation, housing needs is not just an economic decision but also a cultural marker, which is associated with stability, the formation of families and the realization of long-term savings. The inability of financial capability to buy a household may result in financial stress, household formation postponement, and intergenerational inequality. The study illustrates the real-world experience of young adults who are navigating the housing landscape characterized by house price inflation, slow-wage growth and growing household debt. By marrying objective affordability trends and the subjective perceptions of the generation, the paper gives voice to the predicament of meeting the aspiration to become a homeowner while structurally facing financial barriers. Therefore, it will bring to a higher level of sophistication a discussion about the topic of affordability that not only has the statistics as the focus but behavioral and psychological aspects of the society. Originality/value The study is an integrative one. It facilitates an interaction between policymakers, players in an industry and households through associating macrotrends with microperceptions. By making complex relationships available to a wider audience by the integrated findings, the research will have a great image of research and applicability.It is original as it based on both the secondarily obtained data through credible agencies such as the Bank Negara Malaysia and the primary data obtained through conducting a survey, this study brings out the difference between the structural affordability effects and the perceived ones.
Purpose Flooding remains one of the most severe and recurring natural hazards worldwide, particularly in tropical and rapidly urbanising regions such as Malaysia. Beyond its environmental and economic consequences, flooding poses serious risks to housing areas through physical damage, reduced residential safety, displacement and increased pressure on planning and infrastructure systems. This study aims to develop a comprehensive conceptual framework for that integrates geographic information systems (GIS), remote sensing (RS), and the analytical hierarchy process (AHP) to systematically assess housing flood susceptibility and support spatial decision-making. Design/methodology/approach This study adopts a conceptual and methodological approach based on a critical review of literature on flood susceptibility assessment, housing vulnerability, geospatial analysis and multi-criteria decision-making. Key flood-influencing factors, including elevation, slope, land use and land cover, rainfall intensity and proximity to water bodies, are structured hierarchically and weighted using the AHP technique, while GIS and RS are used for spatial data processing and visualisation. Findings The study proposes a structured conceptual framework that clarifies how GIS (AHP) and RS can be integrated into a coherent workflow for assessing flood susceptibility in housing areas. The framework highlights the value of combining spatial data sets with multi-criteria weighting to identify residential locations that may be more exposed to flood risk and to support more informed planning, site selection and risk-sensitive housing development. As a conceptual framework, this study does not include empirical validation using real-time flood event data. Future research should incorporate case study implementation and machine learning techniques to validate and refine the framework. Originality/value This study contributes a structured and transferable conceptual framework that integrates spatial analysis and decision-making techniques, offering practical value for researchers, real estate players, urban planners and policymakers in housing flood risk assessment and mitigation.
Purpose This paper aims to examine the sources of rental premiums in Melbourne’s Build-to-Rent (BTR) sector and assess whether higher rents are associated mainly with observable amenities or with residual BTR status. Design/methodology/approach A hedonic regression framework is applied to a cross-sectional data set of 251 two-bedroom, two-bathroom apartments listed on Realestate.com.au in April 2026, comprising 86 BTR apartments and 165 private rental sector (PRS) apartments. Weekly asking rents are analysed rather than contracted lease prices. This study estimates the BTR rental premium after controlling for structural, locational and amenity characteristics. Given the cross-sectional design, the findings of this study are interpreted as associative rather than causal. Findings The full model achieves an adjusted R² of 0.65. BTR apartments are associated with a raw rent premium of $158.80 per week or 19.4%. After full controls and amenity adjustments, the premium remains statistically significant at +6.3% with a 95% confidence interval of +3.8% to +8.9%. The BTR ownership dummy, which may capture institutional management, brand value, lease security and other unobserved quality attributes, explains a larger share of incremental rent variance than the amenity bundle. Concierge service and library/reading rooms are the only individual amenities that reach statistical significance. Research limitations/implications This study is based on a cross-sectional sample of 251 advertised rental listings collected from Realestate.com.au in April 2026, limited to two-bedroom, two-bathroom apartments in Melbourne. The analysis captures asking rents rather than final lease prices and cannot directly observe all factors embedded in BTR status, such as management quality, lease security, brand reputation or tenant experience. Future research could extend the sample across cities, dwelling types and time periods and incorporate tenant-level or transaction-based rental data. Practical implications The findings suggest that Melbourne’s BTR rental premium is associated more strongly with BTR status and its unobserved attributes than with specific amenities alone. This has preliminary implications for housing affordability policy, particularly where BTR is promoted as a solution to rental market pressures. Social implications This study has implications for housing affordability in Melbourne’s rental market. If BTR premiums are driven largely by institutional status and unobserved quality attributes rather than specific amenities, then BTR may primarily serve higher-income renters unless affordability mechanisms are incorporated. This raises questions about the role of BTR in addressing broader rental stress and whether policy incentives for the sector should be linked to affordability, tenant security and equitable access. Originality/value This study provides early empirical evidence on rental premiums in Melbourne’s emerging BTR sector using property-level rental listing data. It contributes to understanding whether BTR rents reflect measurable amenity provision or broader institutional and management-related attributes. The results of this study are specific to inner-city Melbourne two-bedroom, two-bathroom apartments listed in April 2026 and should not be generalised to the wider BTR sector without further research.
Purpose This study aims to examine the relationship between house prices and farmland prices in the Central Coast of New South Wales (NSW), Australia. Design/methodology/approach The authors use annual data from 1992 to 2024 and apply autoregressive distributed lag (ARDL) and dynamic ordinary least squares (DOLS) estimators. Findings The authors demonstrate that housing prices (both strata and non-strata) and farmland prices are linked over time. Secondly, the authors find a one-way diffusion process in which a rise in housing prices spills over to farmland prices. Both findings suggest that as housing prices soar in Greater Sydney, priced-out households are likely to seek residential alternatives in nearby communities such as the NSW Central Coast. This move will increase demand for both housing and the accompanying services in the destination community, prompting the rezoning of farmland for residential use. Thirdly, market fundamentals such as a lower cash rate and a rise in income and population contribute to an already increasing demand for housing. The ultimate effect is an increase in demand for housing, which pushes up prices that diffuse to farmland. Originality/value While prior studies have examined the impact of urban pressure (or urban sprawl or urban influence) on farmland values or the effect of house prices on farmland prices, none have analysed the bi-directional relationship between these two markets.
Purpose This paper aims to investigate the "literacy paradox" in housing investment decisions: examining why financial literacy appears to discourage while digital platform literacy encourages housing investment and ownership in Indonesia. The authors measure literacy levels across urban populations and analyze how different literacy domains distinctly shape investment behavior.Design/methodology/approach Using an exam-type questionnaire administered to 401 respondents across 18 major Indonesian cities in Q3 2023, the authors use both Logistic and Probit regression models with marginal effects analysis to examine how specific areas of financial literacy (interest rates, inflation and risk diversification) and digital platform literacy (ease of access, digital skills and digital ethics) independently affect investment intentions, financial planning prioritization, willingness-to-pay (WTP) and homeownership.Findings The results uncover a striking paradox: individuals with higher financial literacy - particularly those understanding inflation and risk diversification - are significantly less likely to invest in housing (marginal effect at the mean [MEM] = -13% to -26%), while those proficient in digital platforms are more inclined toward housing investment (MEM = 11% to 15%). This suggests that financial literacy may function as a protective mechanism against property market speculation, while digital platform competence facilitates market participation.Originality/value This paper provides new insight regarding digital platform literacy and its areas with financial literacy effects on individual WTP for housing expenditure in developing nations. A novel instrument was designed specifically in the context of the use of homeownership loans and access to property listing platforms. Econometric analysis not only models the effects of literacy levels but also components of financial and digital platform literacy. Furthermore, this paper finds that financial literacy in Indonesia's case might reduce the tendency of residential property assets over-investment, which potentially increases the housing demand and price bubble.
Purpose This paper aims to examine how urban disruptions, specifically the COVID-19 pandemic and postpandemic urban disorder, affect housing market dynamics in the San Francisco Bay Area. Using a cross-county comparison and the sale-to-list ratio, the study identifies variations in bargaining power, market tightness and sentiment across price segments and housing types, providing evidence on market resilience and informing policies for urban housing stability and equity. Design/methodology/approach The authors analyze 108,237 transactions from 2018 to 2023 using two methods to study housing market behavior during two adverse events. The first is a quintile analysis with a generalized linear model, and the second is a two-stage least squares model to address endogeneity. Findings The San Francisco housing market shows resilience despite economic disruptions, but the impact of time on market (TOM) varies. While longer TOM can lead to competitive bidding in strong markets, this trend weakens during urban disruptions. Noncondominium properties are particularly affected, especially regarding sales premiums. In contrast, Alameda County follows a conventional pattern where longer TOM indicates weaker demand. These findings emphasize how external shocks and urban conditions alter market signals and bargaining dynamics. Practical implications Postpandemic housing market adjustments vary sharply by location and socioeconomic status. In San Francisco, housing shortages and worsening urban disamenities intensify affordability pressures, while remote-work flexibility has accelerated middle-income migration to suburban areas such as Alameda County. Continued outmigration may weaken the urban middle class and long-term fiscal sustainability, highlighting the need for coordinated policies that improve livability and expand housing supply. Originality/value This study effectively combines insights from pandemic and urban policy shocks with cross-county comparisons, demonstrating how local disruptions can significantly transform housing market bargaining, enhance resilience and create impactful spatial spillovers.
PurposeRental housing affordability has become a critical challenge in rapidly urbanising cities, particularly under conditions of inflation, income volatility and uneven institutional capacity. This study aims to examine inflation-adjusted rent-to-income ratios (RIRs) in Lagos, Kumasi and Johor Bahru between 2020 and 2025 and analyses how income dynamics, macroeconomic conditions and housing policy frameworks jointly shape rental affordability outcomes.Design/methodology/approachThis study adopts a comparative quantitative design, combining household survey data from 900 renter households with secondary macroeconomic indicators. Nominal household incomes were deflated to constant 2020 prices using cumulative CPI deflators, and weighted averages were derived from class midpoints. RIRs were computed and analysed longitudinally. A Kruskal-Wallis test was used to assess inter-city differences.FindingsThe results reveal sharply divergent trajectories of affordability. Lagos and Kumasi experienced severe deterioration in rental affordability as inflation, currency depreciation and weak wage growth eroded real incomes while rents escalated rapidly, pushing RIRs far beyond conventional affordability thresholds. In contrast, Johor Bahru maintained stable and affordable rent-income relationships, supported by moderated inflation, rising real incomes and co-ordinated housing policy interventions. Statistical tests confirm significant differences between Johor Bahru and the two West African cities, while Lagos and Kumasi exhibit comparably high rent burdens.Research limitations/implicationsThe findings highlight the importance of incorporating inflation-adjusted measures and institutional context into affordability analysis, particularly in high-inflation urban environments.Originality/valueThis study advances housing affordability research by developing a comparative, inflation-adjusted framework that identifies three urban rental affordability regimes: persistent extreme stress, progressive deterioration and institutional stabilisation, demonstrating that extreme rental stress is institutionally contingent rather than inevitable.
Purpose The purpose of this study is to analyze the dynamics of the Jordanian real estate price index volatility over the period 2005-2021 and determine the influence of Gross Domestic Product (GDP) growth, interest rates and energy prices on price fluctuations in the real estate market. Design/methodology/approach To estimate real estate price volatility, the authors use the quarterly data and the exponential generalized autoregressive conditional heteroskedasticity (EGARCH) model. Findings The results indicate a significant positive relationship between GDP growth and real estate returns. Conversely, interest rates exhibit a negative impact. Energy prices negatively affect real estate returns, dampening housing demand. The study identifies pronounced volatility clustering and leverage effects, where negative shocks exert stronger influences on volatility than positive shocks of equivalent magnitude. Research limitations/implications The study is limited by the use of data for one country. The analysis takes into account a limited set of macroeconomic variables. Practical implications The results of the study have important implications for economic policy and financial regulation. They point to the need to use macroprudential instruments to mitigate systemic risks in the real estate market, including countercyclical capital buffers, loan-to-value limits and debt-to-income ratios.Social implications Real estate market stability has a direct impact on household well-being and housing affordability. Originality/value The originality of this study lies in its comprehensive analysis of house price index volatility in Jordan using the EGARCH model, including energy prices.
Purpose This study aims to examine institutional-socio-economic factors affecting the implementation of a sub-national housing scheme in India based on beneficiaries’ perspectives and provides policy recommendations for sustainable housing policies. Based on the observations during field investigation, this study proposes a conceptual framework highlighting the importance of policy interventions in enhancing individuals’ capabilities for public value creation. Design/methodology/approach This study performs thematic analysis of a sub-national housing scheme’s beneficiaries’ perspectives, narrations and experiences collected through field investigation consisting of focus group discussions and personal interviews. Findings This study identifies institutional governance, frontline administrative support, asset ownership, access to basic infrastructure, reduced living costs, perceived environmental comfort and social inclusion as key institutional-socio-economic enablers. The authors also find that infrastructure deficit, financing gaps and indebtedness, incomplete construction, financial exclusion and exploitation, livelihood insecurity, locational disadvantages and inferior construction quality as significant barriers for effective implementation of sub-national housing scheme in India. Based on the findings, the authors propose a conceptual framework by integrating policy implementation, capability approach to human development and public value theories to explain how policy interventions enhance or restrain beneficiaries’ capabilities in public value creation. Practical implications This study offers policy recommendations for sustainable housing models in line with United Nations Sustainable Development Goals, balancing socio-economic, environmental and governance factors. Originality/value This study makes a noteworthy contribution to the field of public housing policy by proposing multi-level Micro-Meso-Macro Framework. Such a framework is based on an evidence-based investigation of institutional-socio-economic factors influencing outcomes of public housing scheme. It further offers empirically grounded policy recommendations for socio-economic-environmental sustainability.
Purpose Amidst China's declining consumption rate and unprecedented downward pressure on housing prices, this study aims to critically explore the asymmetric impact of housing value fluctuations on household consumption scale and structure. Specifically, it questions the traditional life-cycle-permanent-income hypothesis by investigating whether housing depreciation suppresses consumption more significantly than appreciation stimulates it. The purpose is to understand the behavioral mechanisms that are rooted in prospect theory that drive households to alter spending habits during asset shrinkage, thereby addressing the paradox of stagnant consumption despite historical real estate booms.Design/methodology/approach Based on microlevel data from five waves of the China Household Finance Survey spanning 2011-2019, covering 59,977 observations, this study uses fixed-effect regression models to analyze the asymmetric wealth effects. The approach uses prospect theory to operationalize loss aversion, separating the sample into appreciation and depreciation groups to test distinct coefficients. Furthermore, the study uses mediation models to examine transmission mechanisms, like specifically risk preference, debt burden and credit demand, and conducts extensive heterogeneity analyses across household demographics, income levels and housing characteristics.Findings The study reveals a significant asymmetry: housing depreciation reduces consumption far more severely than appreciation stimulates it. This suppression is driven by loss aversion, which manifests as heightened risk aversion, increased debt burdens and reduced demand for nonhousing credit. The negative impact is particularly pronounced among young/middle-aged female-headed households, low-income groups and owners of multiple or lower-quality properties. In addition, housing devaluation is found to hinder consumption upgrading, prompting a structural shift where households cut high-end spending in favor of low-cost nonessential goods.Originality/value Unlike prior literature predominantly focusing on the positive wealth effects of rising prices, this paper critically addresses the overlooked consequences of housing depreciation. By elucidating the asymmetric mechanisms through prospect theory, it contributes to a better understanding of household fragility during market downturns. The findings challenge the assumption that housing assets purely stimulate consumption and offer timely insights for policymakers to stabilize the real estate market and design targeted financial interventions for vulnerable households to sustain economic growth.
Purpose This study aims to identify the determinants of housing purchase intention by integrating consumer behavior theories with empirical evidence from the Turkish housing market. With a particular focus on Ankara and other major metropolitan cities, the research seeks to clarify how financial conditions, spatial comfort, design aesthetics, construction quality, location and environmental amenities shape consumers’ decisions to purchase a home. Design/methodology/approach A structured survey was administered to 463 participants, and the data set was analyzed using descriptive statistics, reliability tests, independent samples t-tests and analysis of variance to evaluate the relationships between demographic variables, current housing characteristics and purchase intention. Multiple regression analyses were conducted to assess the predictive power of financial, spatial, design, structural and locational factors on housing purchase intention. Findings The results indicate that although participants perceive financial conditions as the most important consideration, this factor does not have a statistically significant effect on housing purchase intention. Instead, design aesthetics, construction quality and location-related attributes emerge as significant predictors. Demographic variables show meaningful associations with purchase intention and price expectations. In addition, current housing characteristics such as tenure status, dwelling size, type and building age are linked to purchase preferences. These findings highlight the complex interplay between economic perceptions and behavioral factors in housing decision-making. Originality/value This study contributes to the housing and consumer behavior literature by empirically testing consumer theory within the context of the Turkish housing market, where behavioral factors may diverge from perceived economic priorities. The results provide actionable insights for policymakers, real estate developers and financial institutions regarding the multidimensional nature of housing purchase decisions.
Purpose This study aims to examine leasehold condominiums as an accessibility-oriented housing pathway for Bangkok's Generation Z, testing if consumers trade perpetual rights for lower pricing and prime-location utility despite finite-tenure anxiety.Design/methodology/approach Using survey data from 308 Thai Gen Z consumers, covariance-based structural equation modeling (CB-SEM) compares a baseline theory of planned behavior model against an extended framework incorporating Perceived Value and Time-based Risk.Findings The extended model (R & sup2; = 0.746) reveals distinct tenure-specific mechanisms. Perceived Value is the dominant positive driver, reinforced by Subjective Norms, while Time-based Risk acts as a significant psychological constraint. Robustness checks confirm this core value-risk mechanism.Research limitations/implications The cross-sectional design limits causal inference. Future research should use longitudinal designs and expand across different cities and market segments, as focusing solely on Bangkok's Gen Z constrains generalizability.Practical implications Developers must emphasize concrete, immediate utility (location, transit, lifestyle) over merely lower entry prices. Transparent communication of lease terms is crucial to manage expiry anxiety, while marketing should target family reference groups to enhance social acceptance.Originality/value Addressing Thailand's tenure puzzle where prime leaseholds target premium segments rather than mass affordability, this research provides novel empirical evidence. It demonstrates that Gen Z evaluates leaseholds as a "priced access" decision, where location utility outweighs expiration concerns when the value proposition is credible.
Purpose This study aims to use the multiple correspondence analysis method to measure substandard housing index (SHI) and analyze the distribution of substandard housing and identify the underlying determinant. Design/methodology/approach This study uses nationally representative data from 339,584 Indonesian households and identification strategy that accounts for potential endogeneity. Findings The authors find 1% increase in income is expected to reduce housing severity by 14 points. This effect is particularly larger in urban areas than in rural areas, where the former are much more constrained in terms of land availability and high property prices. These findings confirm the central role of household economic capacity in shaping housing outcomes, suggesting that sustainable improvements in housing quality require policy approaches that go beyond direct housing provision and strengthen households’ economic foundations. The results provide an empirical support for integrating housing policy with broader income strategies in Indonesia. Originality/value Housing quality remains a major development challenge in developing countries, reflecting persistent socioeconomic inequalities and structural constraints in access to adequate living conditions. In Indonesia, rapid economic growth and urbanization over the past decades have not been fully translated into improvements in housing quality for many households. To date, comprehensive empirical evidence that systematically measures the severity and national distribution of housing quality remains limited.
Purpose This study aims to evaluate the impact of Spain's Housing Law 12/2023 on the rental market, exploiting the fact that Catalonia is the only autonomous community that has activated the regulation of stressed residential market zones. The selective, discretionary adoption of a national law under a multilevel governance framework distinguishes this setting from previous city-level or uniformly applied rent-control reforms, and constitutes the analytical lens of this paper. The paper examines whether rent containment mechanisms have moderated price growth and how they have affected rental housing supply and demand pressure.Design/methodology/approach A quasi-experimental difference-in-differences (DiD) design is implemented using data from the Rental Housing Barometer for the period 2019-2025. Catalonia is defined as the treatment group and compared with three structurally similar regions that have not implemented the regulation: Madrid, the Valencian Community and Andalusia. The design is operationalized as a two-way fixed-effects (TWFE) regression with region and period fixed effects, and standard errors clustered at the region level. The authors complement the TWFE estimator with event-study checks of pretreatment parallel trends, placebo tests on alternative control regions and a provincial-level analysis. The analysis considers rental supply, listed prices and demand pressure, combining descriptive evidence with statistical inference at both regional and provincial levels.Findings The results are consistent with a significant relative contraction in rental housing supply in Catalonia following the activation of the regulation, alongside a more moderate increase in listed prices compared with control regions. The supply reduction is economically substantial and statistically significant, while demand pressure increases sharply. A DiD estimation applied to demand pressure confirms a large and highly significant relative increase in Catalonia, reinforcing the interpretation of supply-side rationing. Although listed price growth appears partially contained, the contraction in available housing suggests that the regulation may have generated unintended market distortions.Research limitations/implications The analysis relies on data from real estate platforms and does not distinguish between dwellings withdrawn for temporary rental, sale or vacancy. In addition, the limited number of pretreatment observations constrains the empirical verification of the parallel trends assumption inherent to the DiD design. The small number of treated provinces (four) further limits the statistical power of disaggregated tests, and the results should therefore be interpreted as local to the Catalan institutional setting rather than as fully generalizable estimates. Future research should examine housing flows between different market segments and evaluate the distributional effects of the regulation.Practical implications The findings highlight the importance of complementing rent regulation policies with measures aimed at expanding housing supply, such as public housing programs, incentives for private investment and regulation of alternative rental segments (notably short-term tourist rentals and temporary leases, which fall outside the scope of Law 12/2023). Social implications While rent containment policies are designed to improve housing affordability, the reduction in available rental housing may increase competition among prospective tenants, as reflected in the sharp rise in contacts per listing documented in Section 4, and potentially worsen access conditions for vulnerable groups, specifically young adults attempting to leave the parental home, low-income households, single-parent families, migrants and temporary workers with limited credit history, who are less able to meet the stricter informal screening requirements that emerge in a rationed market.Originality/value This paper provides the first comprehensive quasi-experimental evaluation of Spain's 2023 national housing law using postimplementation data. Its distinctive contribution is not merely an empirical replication of the Berlin or San Francisco findings, but the explicit use of a multilevel governance setting in which a national law is selectively activated by a single subnational government. This institutional configuration, rare in the international literature, allows the effects of the regulation to be separated from contemporaneous nationwide shocks (inflation, monetary policy, postpandemic adjustment) that contaminate most city-level evaluations. By leveraging the asymmetric territorial application of the regulation, it contributes new empirical evidence to the international debate on second-generation rent controls and their effects on housing market dynamics.
PurposeThis study aims to measure variables influencing the intention to purchase green real estate among young adult buyers, specifically focusing on the role of perceived quality, price sensitivity and customer green value orientation. It also examined perceived green value as a mediator between customer green value orientation and green real estate purchase intentions.Design/methodology/approachThe study prepared a quantitative research design and collected data from potential young adult real estate buyers who were interested in green properties over a 12-month period in the Lower Mainland Region, British Columbia, Canada. A multistage stratified random sampling technique was used to procure 388 responses. Five proposed hypotheses were tested using structural equation modeling.FindingsThe outcomes of the study revealed that all three variables had a significant influence on purchase intention, among which perceived green value had the strongest influence. The study inferred that for young adult buyers, the quality, the price and other functional and emotional benefits from buying green real estate impact the purchase intention. The findings also demonstrated that the mediating factor perceived green value had a significant impact on customer green value orientation and purchase intention.Practical implicationsThe study provides insights for real estate businesses, revealing how a focus on construction quality, transparent housing prices, long-term cost-saving benefits and marketing strategies that appeal to a sustainability-focused demographic can increase demand for green housing.Originality/valueThe study, to the best of the authors' knowledge, is first to quantify the mediating effects of perceived green value between customer green value orientation and green real estate purchase intentions among young buyers in North America, a demographic that is yet to be extensively explored in this context.
PurposeThe study aims to examine the behavior of house prices in developed economies and in emerging markets in response to migration flows by market type - gateway cities and national markets, as well as by origin of migrants.Design/methodology/approachThe author partitions migrant proxies, including flows and stocks, by type of country origin. Identification strategy is based on isolating the exogenous variation in house prices by applying traditional "shift share" instruments. Impact on both residential price levels and first order differences is reported for capital cities and national markets. Instrumental variables (2SLS) confirm results of OLS models, whereas spatial econometric models suggest correction in models with levels.FindingsMigration impact on housing prices differs by level of development. In advanced economies, migration effects are positive; positive impact of migration on housing valuation measured in levels is documented once structural error model (SEM) adjustment is performed. In emerging markets, inflows of migrants from emerging markets negatively impact housing valuations both in the short-term and in the long run. Results for both subsamples are stronger in regressions which measure real estate prices in USD rather than in inflation-adjusted terms. Changes in wages and economic growth point at income channel as possible transmission mechanism in the short term. In advanced economies, wage levels are unaffected my migration stocks, whereas housing valuations are boosted up in SEM models. This at least partially explains growing discontent of local populations against the backdrop of growing housing stock unavailability in developed countries.Research limitations/implicationsLimitations of this study are twofold. First, estimates of annual flows are obtained from changes in stock over four-five-year periods. This could be one explanation why regression results with flows are less significant; changes in levels can only be viewed as crude migration proxies. Second, my data aggregated at national level. Therefore, I am unable to measure displacement effect (S & aacute;, 2015).Originality/valueThe study considers both stocks of migrants and their flows and attempts to differentiate between immediate impact and long-term effects. In this setup, stocks and flows proxy for long-term and short-term response. It also contrasts influence exercised by migrants from developed economies and emerging on housing valuations, labor markets and economic growth.
Purpose This study aims to examine how buyer income and prior market experience shape relative negotiation advantage in an opaque housing market, and whether these advantages persist or shift when pricing signals become ambiguous. Design/methodology/approach Using 430 completed home purchases in Ho Chi Minh City collected through direct post-closing buyer interviews, the authors estimate a hedonic benchmark of market-implied value and construct PriceGap – the logarithmic deviation between predicted value and the final transaction price – as a proxy for relative negotiation advantage (not bargaining surplus). Ambiguous listings are identified via a Flagged indicator based on asking-price thresholds relative to predicted value, with 0.95 selected by AIC/BIC as the baseline operational definition; robustness to alternative thresholds is assessed in sensitivity checks. Findings Experience is the stronger correlate of relative negotiation advantage when pricing signals are more interpretable, operating primarily as a comparative premium over first-time buyers. Under suspicious pricing, income-based advantages intensify while experience-based gains do not amplify. Ambiguity does not compress heterogeneity; it reallocates advantage toward buyers with greater liquidity. Research limitations/implications This study focuses on buyer-side outcomes and cannot observe seller reservation values, urgency or within-transaction concession sequences, so “negotiation advantage” is inferred relative to a hedonic benchmark rather than true surplus. Unobserved buyer traits (e.g. networks, risk tolerance, due-diligence capacity) may still contribute. Future research could incorporate seller-side data, institutional disclosure reforms or richer verification measures to test whether improved verifiability dampens liquidity-driven advantages under ambiguity. Practical implications Improving disclosure standards, strengthening valuation transparency and reducing verification costs can limit ambiguity-driven inequalities in transaction outcomes and protect vulnerable parties when list-price credibility weakens. Social implications In opaque markets, ambiguous price signals can widen outcome disparities by disproportionately benefiting financially stronger buyers. Equity in housing access depends not only on credit expansion but also on informational infrastructure – verifiable records, clearer disclosure norms and more consistent pricing information – so outcomes are less sensitive to liquidity differences when signals become suspicious. Originality/value This study provides rare micro-level evidence from a transitional housing market showing that ambiguous price signals do not erase heterogeneity; they systematically restructure relative negotiation advantage by increasing the salience of liquidity while limiting the scalability of experience-based advantages.
