International Journal of Strategic Property Management (Int J Strat Property Manag )

Journal description

International Journal of Strategic Property Management is a peer-reviewed, interdisciplinary journal which publishes original research papers. The journal provides a forum for discussion and debate relating to all areas of strategic property management. Topics include, but are not limited to, the following: asset management, facilities management, property policy, budgeting and financial controls, enhancing residential property value, marketing and leasing, risk management, real estate valuation and investment, innovations in residential management, housing finance, sustainability and housing development, applications of information technologies in property management, mathematical methods in property management, international comparisons and developments, theoretical and conceptual frameworks for strategic property management, etc. All submissions are subject to review by two independent referees.

Current impact factor: 1.62

Impact Factor Rankings

Additional details

5-year impact 0.00
Cited half-life 2.70
Immediacy index 0.22
Eigenfactor 0.00
Article influence 0.00
Website International Journal of Strategic Property Management website
Other titles International Journal of Strategic Property Management (En ligne)
ISSN 1648-715X
OCLC 300275506
Material type Periodical, Internet resource
Document type Internet Resource, Journal / Magazine / Newspaper

Publications in this journal

  • [Show abstract] [Hide abstract]
    ABSTRACT: In the bidding procedure not only the contractor but also the construction owner make a number of vital decisions, the consequences of which are significant. The contractor has to decide whether to take part in a given bid and, having been accepted, he/she has to prepare a bidding offer. Its essential element is the mark-up introduced to the calculation of the bidding price. On the other hand, the investing construction owner has to decide which contractors are the closest to his/her requirements. The article presents mathematical models concerning the decisions made by the contractor and construction owner in the bidding procedure. All the models are based on the same simple mathematical apparatus using fuzzy sets.
    International Journal of Strategic Property Management 07/2014; 18(3).
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    ABSTRACT: Asset management is a systems approach to managing an organization's portfolio of real property assets. Although a range of activities exist to help manage these assets, understanding facility energy consumption is a critical component from a life-cycle decision-making perspective. Since energy consumption is a national concern for most countries, this has resulted in various initiatives regarding energy conservation measures. To better understand the factors affecting energy consumption in facilities, energy and meteorological data covering 22 years were collected for 74 sites located throughout the world. A regression model with an adjusted R2 value of 81% was subsequently developed to predict energy consumption for each site. Additionally, using trend analysis, we found that the amount of energy used to meet heating load requirements was much greater than the amount used to meet cooling load requirements. The insight gained through the research can help facility managers develop energy initiatives as part of their overall asset management strategy.
    International Journal of Strategic Property Management 07/2014; 18(3).
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    ABSTRACT: The market value of green properties is already acknowledged in scientific literature, but it has still remained unclear how green certificates are incorporated into property valuation. In this study, value influencing mechanism of green certificates in property investment is studied. A widely used discounted cash flow (DCF) model for property valuation was constructed and communicated with spreadsheet to industry professionals for valuing an office property in metropolitan Finland. The goal was to understand the value influencing mechanism and even deeper to identify the differences in DCF parameters between certified properties and non-certified properties. The results show that a green certificate increases on average the property value with 9.0% in the DCF valuation model. Improved yield and net rental income were the main reasons for the higher property value. Interestingly, this is the first known study to empirically open the value influencing mechanisms of green properties presented in earlier theoretical studies.
    International Journal of Strategic Property Management 07/2014; 18(3).
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    ABSTRACT: Within the municipal boundaries, municipalities themselves are usually the largest real estate owners and managers. Such significant amount of real estate property could be expected to be professionally managed; however, the situation is different. According to the latest publications, only about 25% of major European cities are able to follow the quantity and value of their real estate portfolios. The Lithuanian Free Market Institute has recently introduced its first Index of Municipalities in Lithuania and states that none of the Lithuanian municipalities has developed its real estate management strategy. This paper reviews the scientific research on municipal real estate management and analyses the system of real estate management in Lithuanian municipalities. The authors of the paper collaborated with the Association of Local Authorities in Lithuania as well as the representatives of municipalities, and together they identified the main problems of real estate management. On the basis of real estate management research and practice within Lithuanian municipalities the authors of the paper present a brand new model which would help to manage municipal real estate effectively by taking into account the priorities of strategic economic and social development tendencies of the region.
    International Journal of Strategic Property Management 07/2014; 18(3).
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    ABSTRACT: Office market modelling has attracted a mounting amount of interest among researchers and practitioners during past decades. Growing research activity in the area is not surprising considering the importance of rent on property values. Nonetheless, very little quantitative research on Finnish rental markets has been carried out. The objective of this study is to respond to that lack of research by examining office rent determination in the Helsinki central business district (CBD) in reduced form single equation context. We discover that changes in central Helsinki office rents are subject to variations in new office completions and changes in the added value of services sector. As historical fit does not necessarily translate into a satisfactory predictive fit, the forecasting adequacy of the final model is also tested by constructing out of the sample forecast over 2007-2009. We find that the model outperforms two naïve forecasting methods, but fails to perfectly trail the actual index.
    International Journal of Strategic Property Management 07/2014; 18(3).
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    ABSTRACT: This study examines the effect that windfarm visibility has on residential property values using a hedonic regression model. The study area is Ashhurst, New Zealand, a township of approximately 900 dwellings. Ashhurst is located within eight kilometres of two separate windfarms that were developed between 1998 and 2007 comprising 103x660kW turbines, 31x3MW turbines, and 55x1.65MW turbines. The analysis uses the 945 open market house sales that occurred in Ashhurst between 1995 and 2008. Visual impact of turbines is studied to capture the impact of windfarms and it is assessed using GIS viewshed analysis and by field inspection. The hedonic models had satisfactory explanatory performance and in each case indicated that the turbines located between 2.5 and 6 kilometres from the township of Ashhurst had no significant impact on property value.
    International Journal of Strategic Property Management 06/2014; 18(2).
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    ABSTRACT: Intelligent green building (IGB) industry has received considerable global recognition due to the rapid development of advanced technology, intelligent materials, innovative products, and services in recent years. Although various cross-domain experiments and practices with respect to IGB projects are ready for operation, the notion and benefits of IGB are still ambiguous and debatable. The purpose of this study is to apply a Kano quality model and a customer satisfaction matrix to evaluate professional designers’ and general users’ satisfaction, preferences, and acceptability of IGB design strategies. The study result reveals that the proposed approach could be a useful tool to explore similarities and discrepancies of strategy preferences between designers and users, and these findings could effectively decrease the communication gap for future IGB design.
    International Journal of Strategic Property Management 06/2014; 18(2).
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    ABSTRACT: The Malaysian housing market and associated housing finance system have expanded significantly as a result of rapid urbanisation since the late 1980s. The key aspect of this paper is to analyse the inter-relationship between the housing market and housing finance system in Malaysia. The paper employs Vector Autoregressive approach and Granger Causality test to empirically investigate this inter-relationship. In Malaysia, no housing studies has actually looked into or used this approach to identify the inter-relationship between these two elements. The key findings show that there is a strong inter-relationship between the housing market and housing finance system. The direction of causality shows that there is a bi-directional relationship between the housing market and housing finance system. These inter-relationships provide evidence that sound performance of the sub-markets within the housing finance system is a determinant prerequisite of the robustness of the housing finance system, if a healthy performance of the housing market is to be achieved.
    International Journal of Strategic Property Management 06/2014; 18(2).
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    ABSTRACT: The hypothesis that different income groups have different willingness to pay for accessibility to the city centre is based on the standard monocentric model. This hypothesis is empirically tested with accessibility attributes in a hedonic model of apartment prices in the suburbs of the city of Lyon, France. The conditions of residential segregation are described, and apartment prices in the poor and the rich suburbs are analysed with regression techniques. Travel times to two urban centres are accounted for, as well as centrality and accessibility integral indexes. We found that in the selected areas the hypothesis is true. Spatial differences between the estimates for accessibility measures are significant. In more socially problematic areas, the willingness to pay for better accessibility is higher.
    International Journal of Strategic Property Management 06/2014; 18(2).
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    ABSTRACT: This paper examines the long-run relationships between the REIT indices of the UK, Turkey and Israel in the Euro-Med zone with that of MSCI US REIT Index by using weekly data over the period 2003Q3 through 2009Q3, which includes the latest US subprime mortgage crisis and its effects on global stock markets. Although our EG test results do not indicate a long-run relationship, after taking account of the structural changes by applying the GH test, we find a long-run interaction between the REIT indices of UK and Israel with that of the US. However, our results indicate the lack of co-movement between REIT index of Turkey with the US. In addition, our dynamic OLS test results indicate a perfect relationship between the UK and the US indices. Our findings show that international investors who make long-term investments can only gain from diversifying into the real estate market of Turkey among the involved markets in the Euro-Med zone.
    International Journal of Strategic Property Management 03/2014; 18(1).
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    ABSTRACT: There is a tripartite pull from academics, industry and professional bodies on the development needs of the Quantity Surveyor (QS). At best, there is scope for misunder-standings between the stakeholders as to what is being required and what is being achieved. At worst there may be actual gaps in the education and/or training being offered and some discrepancies between the levels of attainment. This research sought to review the Royal Institution of Chartered Surveyors (RICS) QS competencies and their application in the delivery of QS degree programmes. The changing development needs of QSs who satisfy the aspirations of industrial, professional and academic stakeholders were investigated through content analysis of the views of an expert forum consisting of relevant stakeholders and a series of competency mapping case studies. The study revealed that there are considerably different standards right across the RICS accredited QS programmes with respect to coverage of competencies. It is concluded that there is no standard benchmark in achieving competencies and it is open to individual interpretation. Further research in the development of a Graduate Competency Threshold Benchmark is suggested to align the disparate views of the stakeholders to accommodate changing development needs.
    International Journal of Strategic Property Management 06/2013; 17(2):143-160.
  • International Journal of Strategic Property Management 01/2013; Vol. 17(1),:58-78..
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    ABSTRACT: This paper empirically explores various efficiency aspects of real estate and construction companies in Iran in light of their remarkable growth in recent years. The technique used to measure the efficiency is DEA and the sample is taken from the construction and real estate companies in Iran. Results from our analysis reveal that most of the real estate and construction companies in Iran are generally technical, scale and mix efficient. However, they are less cost efficient due to increasing higher cost of production. The sensitivity analysis results also suggest that the real estate and construction companies are experiencing diseconomies of scale. As Iran is an underdeveloped market and is currently one of the most interesting frontier markets in the world, this research contributes substantially to investors and multinationals (who have growing desire to gain exposure in this market) by providing current information about the efficiencies of real estate and construction companies in Iran. In addition, this research also provides some institutional voids on how to penetrate market environment in Iran through real estate development.
    International Journal of Strategic Property Management 12/2012; 16(4).
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    ABSTRACT: Comprehension of the effect of energy generation technologies on the natural environment, human health and safety leads to a new and responsible approach to the choice and development of technologies. When it comes to preparing energy growth scenarios and handling issues related to the choice and assessment of technologies, environmental studies must be in a particular spotlight. One way to make quantitative and qualitative assessment of the effect of technologies on the environment is through a thorough integrated analysis, which, in addition to economic and technical solutions, also considers other aspects of concern to the public. A changed environment demands for systems of criteria which help consider its changes, the attitudes of the general public, public sentiments toward the effect of technologies, public values and community involvement in the process of important decision-making. The article examines how the dimension of values affects the analysis of the impact of environmental factors on the value of energy generation technologies. It presents a set of criteria for the assessment of energy generation technologies; the set, in addition to technological, economic and environmental criteria, includes criteria which reflect the values. The article also introduces the expert decision support system EGTAV-SPS, which helped assess the effect of environment on energy production technologies.
    International Journal of Strategic Property Management 12/2012; 16(4).