Research

14 pages, 286 KiB

Open AccessArticle

Sustainability Messages in Residential Property Advertising

by Katherine Brookfield, Charlotte Dimond and Susannah G. Williams

Sustainability 2023, 15(1), 139; https://0-doi-org.brum.beds.ac.uk/10.3390/su15010139 - 22 Dec 2022

Cited by 1 | Viewed by 1919

Companies and brands are increasingly addressing issues of sustainability in their marketing and advertising as they respond to consumers’ evolving interests and preferences. While studies have examined the presence of sustainability messages in advertising in general, and in a number of discrete industries, [...] Read more.

Companies and brands are increasingly addressing issues of sustainability in their marketing and advertising as they respond to consumers’ evolving interests and preferences. While studies have examined the presence of sustainability messages in advertising in general, and in a number of discrete industries, the use of these messages in residential property advertising is critically understudied. Some homebuyers, however, appear interested in these messages, as evidence suggests they ascribe value to certain sustainability claims and features. An analysis of the textual and visual content of 100 property adverts for city centre flats, listed for sale in two English cities in early 2022, afforded detailed insights into the positioning of sustainability in residential real estate advertising. Findings from this analysis indicate that explicit sustainability messages are rare. Property and locational features related to environmental sustainability are mentioned more frequently than those related to social sustainability. Features related to economic sustainability are discussed in adverts targeted at property investors. Sparse explicit discussion of sustainability in adverts might imply that there is little general concern for this issue, either amongst those selling property and/or amongst those buying property. An implication of this might be that pro-sustainability measures targeted at the housing sector may encounter a muted response from actors within the sector, potentially frustrating the implementation of those measures. For homebuyers who are interested in a property’s sustainability, the findings suggest that they are poorly served by current practices in property advertising. Estate agents and developers wishing to appeal to these sustainability-minded consumers might do well to incorporate greater commentary on a property’s sustainability features in their advertising materials. Full article

(This article belongs to the Special Issue Sustainable Development and Property Markets)

23 pages, 1571 KiB

Open AccessArticle

Exploring Green Office Building Choices by Corporate Tenants in Malaysia

by Yasmin Mohd Adnan, Nor Adibah Mohd Arif and Muhammad Najib Razali

Sustainability 2022, 14(21), 14509; https://0-doi-org.brum.beds.ac.uk/10.3390/su142114509 - 04 Nov 2022

Cited by 2 | Viewed by 1945

Abstract

This paper aims to explore corporate tenants’ considerations for office space choices at green office buildings in Kuala Lumpur, Malaysia. This study focuses on the office choice perspectives between corporate tenants at two main locations in Kuala Lumpur’s business districts. The study then [...] Read more.

This paper aims to explore corporate tenants’ considerations for office space choices at green office buildings in Kuala Lumpur, Malaysia. This study focuses on the office choice perspectives between corporate tenants at two main locations in Kuala Lumpur’s business districts. The study then considers how these perspectives are similar and different amongst the various types of corporate tenants. This research is based on existing literature and semi-structured interviews that examined several themes in the context of leasing purpose-built green office buildings. Using a qualitative approach involving semi-structured interviews along with desk research, this paper explores how the different profiles of corporate tenants of green office buildings that are located at different locations in Kuala Lumpur portray varying considerations for green office building choices. The responses gathered from the interviews revealed differing aspects of considerations. The various types of tenant organisations place varying importance on several themes that have emerged which include location, finance and cost, building features, health and well-being, image and branding and social corporate responsibility (CSR). Although the sustainability aspects are perceived to add value to the business for the tenants’ organisations, the office buildings’ choice can be influenced by the company’s profile and size and the structure of the business which will eventually influence the decision to occupy green office buildings. As highlighted by an earlier study, the company policy in relation to the sustainability strategy of the organisation that meets the business needs also plays a role in green office building choices. These findings could be significant to green office providers in anticipating the future demand for green office buildings which in turn would contribute towards the achievement of the sustainable development goals of cities in Malaysia. Full article

(This article belongs to the Special Issue Sustainable Development and Property Markets)

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18 pages, 3325 KiB

Open AccessArticle

Strategies for Alleviating Spatial Disadvantage: A Systems Thinking Analysis and Plan of Action

by Richard Tucker, Louise Johnson, Jian Liang and Steven Allender

Sustainability 2022, 14(17), 10477; https://0-doi-org.brum.beds.ac.uk/10.3390/su141710477 - 23 Aug 2022

Cited by 2 | Viewed by 1539

Abstract

Within Australian cities there is significant socioeconomic disparity between communities, which is an obstacle to sustainable urban development. There is a voluminous amount research into the causes and some of the ameliorative actions to address socio-spatial disadvantage, though many studies do not localize [...] Read more.

Within Australian cities there is significant socioeconomic disparity between communities, which is an obstacle to sustainable urban development. There is a voluminous amount research into the causes and some of the ameliorative actions to address socio-spatial disadvantage, though many studies do not localize or systematize their analyses. This paper presents the results of a co-design process conducted with community stakeholders using innovative realist inquiry and system mapping to answer the question: what are the impacts and drivers of socioeconomic and spatial disadvantage in a regional city in Victoria, Australia, and what actions might ameliorate these in three localities? Participants identified 24 separate causes and impacts of acute socioeconomic disadvantage. Using system maps, these community members developed 13 intervention ideas for action with potential to positively impact health and wellbeing, education, housing, employment, and livability, and be translatable to policy positions. The paper therefore presents a unique method of enquiry into spatial disadvantage and a grounded set of strategies for positive action. Full article

(This article belongs to the Special Issue Sustainable Development and Property Markets)

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13 pages, 4656 KiB

Open AccessArticle

Housing Affordability of Private Rental Apartments According to Room Type in Osaka Prefecture

by Mikio Yoshida and Haruka Kato

Sustainability 2022, 14(12), 7433; https://0-doi-org.brum.beds.ac.uk/10.3390/su14127433 - 17 Jun 2022

Cited by 2 | Viewed by 2314

Abstract

Housing poverty was already a social problem in Japan before the COVID-19 pandemic. The research questions of this study were as follows: How many private rental apartments that are affordable for low-income groups exist in the real estate market? Additionally, do these rental [...] Read more.

Housing poverty was already a social problem in Japan before the COVID-19 pandemic. The research questions of this study were as follows: How many private rental apartments that are affordable for low-income groups exist in the real estate market? Additionally, do these rental apartments have enough rooms? This study aimed to clarify the housing affordability of private rental apartments in Osaka Prefecture according to room type. In this study, we analyzed housing affordability based on room types and housing conditions using a real estate dataset. In conclusion, this study found that housing affordability is problematic in terms of quantity and quality among the private rental apartments for multiple households in Osaka Prefecture. Additionally, it was found that the role of old wooden low-rent housingbuildings has declined as affordable housing. In particular, the total number of two-room and over three-room-type low-rent housing was less than 8000 units, accounting for only 4.2% of all private rental apartments in the real estate market. The distributed supply of low-rent housing has potential risks in maintaining a stable life for low-income groups with multi-person households. Those low-income groups are forced to live in higher-rent housing or one-room-type low-rent housing. Full article

(This article belongs to the Special Issue Sustainable Development and Property Markets)

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20 pages, 1127 KiB

Open AccessArticle

Environmental Effects of City–County Mergers in China: Strengthening Governance or Aggravating Pollution?

by Zhiying Cao, Liangjian Wang and Yang Zhang

Sustainability 2022, 14(9), 5522; https://0-doi-org.brum.beds.ac.uk/10.3390/su14095522 - 05 May 2022

Cited by 4 | Viewed by 1715

Abstract

Green and high-quality development is the focus of China’s urban development strategy in the new era. The city–county merger policy has been one of several powerful tools used by the Chinese government to promote urbanization in recent decades, but whether and how it [...] Read more.

Green and high-quality development is the focus of China’s urban development strategy in the new era. The city–county merger policy has been one of several powerful tools used by the Chinese government to promote urbanization in recent decades, but whether and how it influences the environment has been rarely discussed. Using the multi-period difference-in-differences method and urban panel datasets, we investigated the environmental effects of the city–county merger policy in China from 2000–2016 and obtained the following results. First, the city–county mergers significantly reduce the environmental pollution of merged cities. The robustness tests support this conclusion. Second, the effects of city–county mergers on environmental pollution control decrease with the increase in geographical distance between the merged cities and counties; the smaller the differences in economic strength of merged cities and counties, the better the coordinated control of environmental pollution; the environmental governance effects of merged cities in the eastern region are lower than those in the central and western regions. Third, by intensifying the vertical management of urban environmental protection agencies, unified urban planning and fiscal centralization, the city–county mergers can strengthen the overall environmental governance capabilities of merged cities, reduce the negative effects of urbanization, and ultimately improve the environmental quality. Full article

(This article belongs to the Special Issue Sustainable Development and Property Markets)

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17 pages, 452 KiB

Open AccessArticle

Associations between Community Parks and Social Interactions in Master-Planned Estates in Sydney, Australia

by Chunyan Yang, Song Shi and Goran Runeson

Sustainability 2022, 14(6), 3496; https://0-doi-org.brum.beds.ac.uk/10.3390/su14063496 - 16 Mar 2022

Cited by 3 | Viewed by 2409

Abstract

There have been growing concerns regarding increased social isolation in Australia, many of which are currently being exacerbated due to the COVID-19 pandemic. Feelings of social isolation may increase the risk of mental issues in people. New Urbanism hypothesizes that neighborhood communal spaces [...] Read more.

There have been growing concerns regarding increased social isolation in Australia, many of which are currently being exacerbated due to the COVID-19 pandemic. Feelings of social isolation may increase the risk of mental issues in people. New Urbanism hypothesizes that neighborhood communal spaces can influence social interaction between residents and, in turn, can promote community sustainability. This study investigated the associations between community parks and social interactions in master-planned estates (MPEs) in Sydney, Australia. Data were obtained from a resident survey conducted in two MPEs in the inner west area of Sydney: Breakfast Point and Liberty Grove (n = 192). Hierarchical multiple regression (HMR) models were used to analyze the relationship between community park use and social interaction. This study found that the factors ‘frequency of community park use’, ‘rest spaces satisfaction’, and ‘pedestrian connectivity with surroundings’ are significantly and positively associated with social interaction between residents in the MPE context. The findings of this study highlight the importance of the community parks in creating social sustainability in MPEs, particularly in the context of COVID-19 pandemic. Full article

(This article belongs to the Special Issue Sustainable Development and Property Markets)

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18 pages, 457 KiB

Open AccessArticle

Does Corporate Social Responsibility Vary by Real Estate Asset Types? Evidence from Real Estate Investment Trusts

by Jian Liang, Ameeta Jain and Hao Wu

Sustainability 2021, 13(22), 12836; https://0-doi-org.brum.beds.ac.uk/10.3390/su132212836 - 19 Nov 2021

Cited by 3 | Viewed by 3626

Abstract

This paper investigates how real estate investment trusts’ corporate social responsibility (CSR) (REITs) varies by two intrinsic firm factors: real estate asset types and REITs’ financial aspirations. We develop a conceptual model to demonstrate the theoretical role of these intrinsic firm factors in [...] Read more.

This paper investigates how real estate investment trusts’ corporate social responsibility (CSR) (REITs) varies by two intrinsic firm factors: real estate asset types and REITs’ financial aspirations. We develop a conceptual model to demonstrate the theoretical role of these intrinsic firm factors in moderating CSR. Using a database containing the Morgan Stanley Capital International CSR rating index, we test REITs from 19 countries for variations of their CSR performance across each of the three pillars of CSR: environment, social, and governance (ES&G) by real estate asset types from 2009 to 2016. The results show that REITs focusing on less market-transparent real assets relying heavily on intensive human-based services and physical capital in property management like hotels and hospitals exhibit a poorer performance in environmental responsibility, social responsibility, and overall CSR score. We found no significant difference between the REITs in their governance responsibility with respect to the real estate asset types. We found that moderation by financial aspiration in establishing their CSR strategies varies by the types of real estate asset that REITs focus on, with the maximum positive impact on REITS with hotel holdings and negative impact on REITs with office and retail assets. Full article

(This article belongs to the Special Issue Sustainable Development and Property Markets)

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15 pages, 929 KiB

Open AccessArticle

CEO Overconfidence and Corporate Governance in Affecting Australian Listed Construction and Property Firms’ Trading Activity

by Mahmoud Hijjawi, Chyi Lin Lee and Jufri Marzuki

Sustainability 2021, 13(19), 10920; https://0-doi-org.brum.beds.ac.uk/10.3390/su131910920 - 30 Sep 2021

Cited by 11 | Viewed by 2924

Abstract

This paper aims to examine whether and to what extent overconfident CEOs affect Australian real estate investment trusts’ (A-REITs) property investment activities during their tenure as the CEO of A-REITs, covering the period 2000–2019. A-REITs’ property investment and disposal activities are separately modelled [...] Read more.

This paper aims to examine whether and to what extent overconfident CEOs affect Australian real estate investment trusts’ (A-REITs) property investment activities during their tenure as the CEO of A-REITs, covering the period 2000–2019. A-REITs’ property investment and disposal activities are separately modelled against CEOs shares in their companies (an indicator of CEO overconfidence), as well as other controlled variables. We found that around 68% of A-REIT CEOs are overconfident over the study period. However, our empirical results also indicated that CEO overconfidence did not have a profound impact on A-REITs’ investment activities, either property acquisitions or disposals. This could be explained by high corporate governance of A-REITs. Specifically, Australian construction and property companies are the leading market players in sustainability. As publicly quoted companies, listed property and construction companies, particularly A-REITs could be exposed to various managerial issues, including corporate CEO overconfidence and its influence on the investment decision-making process. However, this managerial issue could be minimized via an enhancement of corporate governance that is a key pillar of sustainability. The mitigation of corporate overconfidence and implementation of corporate governance mechanisms makes REITs more accountable to their investors. The implications of the findings have also been discussed. Full article

(This article belongs to the Special Issue Sustainable Development and Property Markets)

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