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Buildings
Special Issues
Property Economics in the Post-COVID-19 Era
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Property Economics in the Post-COVID-19 Era

A special issue of Buildings (ISSN 2075-5309). This special issue belongs to the section "Architectural Design, Urban Science, and Real Estate".

Deadline for manuscript submissions: 30 June 2024 | Viewed by 4182

Special Issue Editor

Dr. Chyi Lin Lee

E-Mail Website
Guest Editor
School of Built Environment, University of New South Wales, Kensington, NSW 2054, Australia
Interests: sustainable property; housing economics; housing submarkets; REITs; real estate finance and investment
Special Issues, Collections and Topics in MDPI journals

Special Issue Information

Dear Colleagues,

The COVID-19 pandemic has had significant effects globally, and to alleviate its impacts on health, some alterations in human behavior have occurred. These alterations have also presented some new challenges to the broader economy, including real estate. For example, now that “working from home” has become normal, real estate markets, both commercial and residential, have encountered significant changes in location, demand, usage, etc. The rising awareness of health, as a result of the pandemic, has led to different concerns and preferences regarding the built environment. For instance, the pandemic has changed the way people view their homes. With more people working from home, the demand for larger homes with more space has increased. Additionally, there has been a surge in demand for suburban and rural areas, as people seek more space and a quieter lifestyle. The pandemic has disrupted global supply chains, leading to shortages in building materials, causing delays, and increased costs for construction projects.

Furthermore, the combined influence of uncertainties in the economy and pandemic-related government policies should be examined. Undoubtedly, the way in which these economic factors are affecting the global real estate market in the post-COVID-19 era is a very interesting topic, and property economics is a crucial tool for understanding the factors at play. Insight in this area will help real estate professionals to navigate these changes in order to make informed investment and development decisions going forward.

In this context, this Special Issue aims to call for papers which include, but are not limited to, the following topics:

  • Preferences and trends for commercial property in the post-COVID-19 era;
  • The changing role of cities in the housing market in the post-COVID-19 era;
  • Long-term economic effects of the pandemic on the property market in the post-COVID-19 era;
  • Government policies and the property market in the post-COVID-19 era;
  • ESG investing and green buildings in the post-COVID-19 era;
  • Government policies/economic uncertainty and REITs volatility as well as return in the post-COVID-19 era;
  • Housing demands, preferences, and affordability in rental and sale markets in the post-COVID-19 era;
  • Challenges of property risk management and property valuation in the post-COVID-19 era;
  • Property and construction economics issues in the post-COVID-19 era.

Dr. Chyi Lin Lee
Guest Editor

Manuscript Submission Information

Manuscripts should be submitted online at www.mdpi.com by registering and logging in to this website. Once you are registered, click here to go to the submission form. Manuscripts can be submitted until the deadline. All submissions that pass pre-check are peer-reviewed. Accepted papers will be published continuously in the journal (as soon as accepted) and will be listed together on the special issue website. Research articles, review articles as well as short communications are invited. For planned papers, a title and short abstract (about 100 words) can be sent to the Editorial Office for announcement on this website.

Submitted manuscripts should not have been published previously, nor be under consideration for publication elsewhere (except conference proceedings papers). All manuscripts are thoroughly refereed through a single-blind peer-review process. A guide for authors and other relevant information for submission of manuscripts is available on the Instructions for Authors page. Buildings is an international peer-reviewed open access monthly journal published by MDPI.

Please visit the Instructions for Authors page before submitting a manuscript. The Article Processing Charge (APC) for publication in this open access journal is 2600 CHF (Swiss Francs). Submitted papers should be well formatted and use good English. Authors may use MDPI's English editing service prior to publication or during author revisions.

Keywords

  • post-COVID-19 era
  • property economics
  • property market
  • property price
  • property investment
  • ESG and green building
  • housing economics
  • housing affordability
  • REITs
  • property asset securitization
  • risk management
  • property valuation
  • construction economics

Published Papers (2 papers)

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Research

21 pages, 1063 KiB  
Article
Assessment of Fee Variability among Built Environment Professionals in South Africa: A Comparative Analysis
by Molusiwa Ramabodu
Buildings 2023, 13(12), 2951; https://doi.org/10.3390/buildings13122951 - 27 Nov 2023
Viewed by 814
Abstract
Project success has often been impacted by varying factors, such as conflict arising from managing stakeholders’ remuneration, especially bordering on the scale of fees. This paper delves into the intricate landscape of fee variability among built environment professionals in South Africa. By scrutinizing [...] Read more.
Project success has often been impacted by varying factors, such as conflict arising from managing stakeholders’ remuneration, especially bordering on the scale of fees. This paper delves into the intricate landscape of fee variability among built environment professionals in South Africa. By scrutinizing the most recent available data, this research sheds light on the nuanced fee structures prevalent in the industry. To conduct this investigation, a comparative analysis of fee scales across various professions in South Africa was performed. This research employed historical project cost data extracted from an extensive dataset, encompassing project values, fees, and fee percentages for diverse professions involved in projects from 2014 to 2022. This study revealed that low scale levels are associated with poor performance and lead to conditions and attitudes that pose dangers for consultants. This study provides strategies for a firm’s resilience and adaptability in the face of the dynamics associated with fees. Full article
(This article belongs to the Special Issue Property Economics in the Post-COVID-19 Era)
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22 pages, 1044 KiB  
Article
The Unintended Consequences of COVID-19 Economic Responses on First Home Buyers? Evidence from New South Wales, Australia
by Mustapha Bangura, Chyi Lin Lee and Benjamin Schafer
Buildings 2023, 13(5), 1203; https://doi.org/10.3390/buildings13051203 - 1 May 2023
Cited by 5 | Viewed by 2796
Abstract
As in many other nations, the Australian Government implemented monetary and fiscal policies in response to the COVID-19 pandemic to aid economic recovery. Among these policies were specific measures to assist first home buyers (FHBs) in entering the housing market. However, these unprecedented [...] Read more.
As in many other nations, the Australian Government implemented monetary and fiscal policies in response to the COVID-19 pandemic to aid economic recovery. Among these policies were specific measures to assist first home buyers (FHBs) in entering the housing market. However, these unprecedented economic policies might have other direct and indirect implications on FHBs, which have yet to be thoroughly explored in the literature. To fill this gap, through a survey, we collected information via public and online mortgage broker platforms from 61 FHBs who successfully entered the housing market or were actively searching during the pandemic. The results found COVID-19 economic responses counterproductive for FHBs, pushing them to a more disadvantaged position due to an overheated property market. In addition, since the onset of the pandemic, property prices have risen significantly, exacerbating housing inequality as FHBs increasingly rely on intergenerational family support, take on more financial risk, and relocate to regional areas due to fear of missing out. The study highlights the need for macroeconomists and housing policymakers to consider these unintended consequences in formulating policies that minimise the adverse effects of economic stimulus measures. Full article
(This article belongs to the Special Issue Property Economics in the Post-COVID-19 Era)
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