PurposeThe purpose of this paper is to evaluate the quality of housing services in the students’ residential areas (SRAs) of Osun State University, Osogbo campus.Design/methodology/approachEighty-eight hostels were systematically sampled and questionnaires were administered to students' representatives from each of the sampled hostels. Also utilized was a physical observation of the hostels. Data obtained include the socioeconomic characteristics of the students, characteristics of housing units in the SRAs and condition of housing services in the SRAs.FindingsAbout 40% of the residents are fresh students with no previous knowledge of the housing condition of their hostels. Also, about 50% of the accommodation in the SRAs is within the range of #51,000 – #100,000 per annum (about 200–400 US Dollars). With this high price, about 65% of the hostels are occupied with not less than two squatters. While housing services such as electricity are reportedly high, the quality of hostel services in the study area depends on the housing unit's cost.Social implicationsIn the social context, the paper identifies the implications of the quality of housing services on students' health and associated risks. The study, among others, recommends the development of a regulatory framework for the control of the rental value of hostels, basic facilities in the hostels and the number of students in a room.Originality/valueThis research, unlike previous researches, gives an insight into quality of housing services in tertiary institutions in the country.

PurposeGated communities continue to spread in popularity across cities around the world. Ghana has seen considerable growth in the development of gated communities over the last few years. This phenomenon manifests in the majority new residential developments and most forms of residential property advertisement in the capital city. The purpose of this paper is to explore the drivers of gated community developments in Ghana from the perspective of gated community developers.Design/methodology/approachThis paper used a qualitative research approach. Through face-to-face semi-structured interviews, data was collected from purposively selected key stakeholders in the gated community development market, including developers, managers and consultants.FindingsThe drivers identified from the developers' perspective were the demand for gated community properties, the control over and ease of management of assets and interests, the high development/production cost of real estate and speculative development of gated community properties.Originality/valueThis paper is an initial study that explores the drivers of gated community developments in Ghana from the perspective of gated community developers. This paper extends the literature on gated communities beyond the residents perspective.

PurposeThe study aims to assess the sourcing approaches used in providing facilities management (FM) services in hotels. It further explores the factors that influence hotels' choice of sourcing approach and the challenges.Design/methodology/approachThe study used a case study design. Simple random, census and purposive sampling techniques were used to select the hotels and respondents. Data were collected using interviews and analysed thematically. The data were presented in narration and direct quotes from the respondents. The critical factors influencing outsourcing decisions were ranked using the relative importance index. This study is based on a single case. Therefore, further research should be conducted to expand the scope of study nationwide as a step toward making the results more robust.FindingsBoth in-house and outsourcing sourcing approaches were used to provide FM services. In-house FM services mainly focused on cleaning, security and aspects of maintenance. Internet and information technology related services and other maintenance activities were also outsourced. Outsourcing decisions in the various hotel categories were mostly guided by the cost of outsourcing, core business, lack of in-house skills and hotel size.Practical implicationsFM strategy can be developed to guide the management of FM activities in hotels. An approach that adds value and enhances the activities of hotels and provides convenience to customers must be adopted by hotels. Further studies should be conducted on the cost implications of the two main sourcing approaches, as well as the impact of sourcing approaches on customer satisfaction. An additional study should focus on the driving factors influencing the cost and quality of outsourced FM services in hotels. This will help provide comprehensive information on effective FM sourcing approaches and the operations of hotels.Originality/valueThe study focused on the sourcing approaches used by hotels to provide FM services. It also explored the influencing factors and challenges of FM practices in hotels.

PurposeThis paper develops a conceptual framework that is applicable in various compensation settings vis-a-vis relevant legal frameworks, compensation processes and practices, compensation outcomes and adequacy of resultant compensation by using a common evaluative framework, to address the lack of such a conceptual framework in the compensation literature. Also, by developing a new conceptual framework, this paper provides a platform and an analytical tool for anchoring and analysing future research on compensation for expropriation of various property rights.Design/methodology/approachThis conceptual paper is based on original thought and review of literature on compensation for expropriation.FindingsA critical analysis of existing literature on compensation for expropriation of customary properties reveals that most studies are inadequately informed by relevant compensation theories and that each study uses its own tailor-made analytical framework. This entails that there is no general conceptual framework for anchoring new studies in compensation and aid in extrapolating their results to similar populations and contexts.Originality/valueThis paper makes novel contribution to knowledge by developing a new conceptual framework for analysing compensation for expropriation of customary property rights, which is not there currently. Essentially, by developing the new conceptual framework, this paper provides a basis for anchoring new research works in compensation and their analyses, thereby making a further contribution to knowledge.

PurposeThis paper is concerned with behavioural responses to reviewed ground rents in New Zealand. The focus is on how freehold growth information is interpreted when considering reviewed ground rents on ground leasehold value.Design/methodology/approachSemi-structured interviews were conducted with ground leaseholders to inform the design of a controlled experiment. The interviews revealed that (a) purchasers tended to directly compare freeholds to ground leaseholds and (b) used rudimentary valuation methods. In the experiment, 40 property investors were requested to estimate the ground leasehold value close to the ground rent review time. Thereafter, 20 of the investors reassessed their ground leasehold value estimate using a projection of the future ground rent and a statement as to freehold growth (treatment). The control group of the remaining 20 investors received the estimate of the future ground rent only.FindingsThe tendency for higher treatment group valuations indicated the growth information was too available. Comparing ground leaseholds directly to freeholds, rather than thinking about the cost implications, is attributed to a manifestation of the availability heuristic.Research limitations/implicationsThe study involves a typical ground lease arrangement (as verified by experts) in the New Zealand market where there are few protections for ground leaseholders. These findings justify prohibiting new ground leases where the ground rents are set by reference to freehold land value.Originality/valueThis paper extends behavioural theory (availability heuristic) to explaining human interaction with ground leaseholds.

PurposeThe purpose of this article is to explore the possibility of people living in manufactured housing parks in Australia to collectively buy the property at fair market value and convert it into a resident owned community co-operative.Design/methodology/approachThe methodological approach is based on 20 interviews with occupants of resident owned communities (ROCs) and key informants in the USA state of New Hampshire. Residents' interviews provide an understanding of the motivations to want to own and self-manage the property.FindingsThe findings suggest that, based on USA experience and the availability of enabling financial structures, Australian residential park residents could be keen buyers of manufactured housing park properties.Research limitations/implicationsA limitation of this research was the small number of interviewees who were mainly people in ROC leadership positions and advocates. Another limitation was that no specific investigation was made to gauge manufactured housing park (MHP) residents' level of demand for ROCs in Australia. Although there was some evidence of support, further Australia-wide enquiry is needed.Practical implicationsThe sale of MHPs to resident co-operatives could become a new component of the property market in Australia and residents entering the market as buyers may cause a shift in market forces.Social implicationsROCs would offer greater diversity of housing choice and might further inform decision-makers of seniors and retirees' future intentions. Downsizers moving to ROCs could potentially increase the savings nest egg through the sale of the family home which will also free-up conventional housing for better utilisation by younger cohorts.Originality/valueOwners of residential parks are unlikely to have considered the tenants as potential buyers of the property, but, envisaging, ROCs could become a new type of tenure for Australians aged over 50 years.

PurposeProperty tax continues to be the most viable, steady, progressive and genuine source of income for an independent local government administration in India. Kerala has one of the most complex cadastral and property taxation systems in the country. In 2008, the Kerala government introduced “Fair value of land” for all landed property in Kerala, which is calculated per Are and notified by the Government of Kerala on the website. This paper presents the outcome of the spatial mapping of the fair value of land in Kerala and its comparison with actual land value collected through advertisements and surveys.Design/methodology/approachThe methodology used in this study analyzed the existing fair value system of land valuation in Kerala and identified its drawbacks. Fair value is integrated into cadastral data in geographical information system (GIS) and spatially analyzed to identify the discrepancies in fair value fixation. The actual land value for 837 locations is collected from online advertisements and verified through a field survey. A paired t-test analysis follows this to compare the fair value and actual land value of the study area.FindingsThe disparity between the original land value and the registration value in Kerala has resulted in the undervaluation of land resources by the government. The fair value fixed by the government is significantly lower than the actual land value based on the statistical comparison results. It is observed that the actual land value is multiple times higher than the government fixed land value. Also, the spatial distribution of the village level fair value shows the randomness in fixation and abnormalities existing at numerous locations.Practical implicationsThe results indicate that the traditional comparison method used for fair value calculation by the Kerala government is not suitable in Indian scenarios due to the unreliability of registration values. The study thus points to the importance of developing a scientific method for determining the land value that would consider various spatially influencing parameters.Originality/valueThe current study provided an in-depth analysis of the land valuation system of the Kerala government. The strengths and weaknesses of the existing system are analyzed through statistical methods.

PurposeThe purpose of this paper is to determine the most significant factors influencing apartment values in Nairobi Metropolitan Area (NMA), Kenya and develop a valuation model using the identified variables. The paper is thus promoting the adoption of advanced, more reliable and accurate valuation methods in developing economies such as Kenya. Therefore, the paper demonstrates the potential of the hedonic pricing method (HPM) in property valuation by making objective adjustments to comparable sales data.Design/methodology/approachThe paper utilizes a case study design by analysing recent (January 2020 to December 2021) apartment sales and apartment attributes in NMA. A sample size of 264 transactions was analysed using the HPM.FindingsThe study identified six significant factors affecting apartment values in the study area: apartment size, location, floor finishes, provision of shopping facilities, swimming pool and gym. A valuation model has been developed using the six variables.Research limitations/implicationsThe paper is contributing to the ongoing global debate on the accuracy, reliability and validity of property valuations with particular emphasis on the developing economies to adopt the more accurate, efficient and reliable valuation approaches.Practical implicationsThe findings are useful to property valuers and estate managers in determining the most statistically significant attributes affecting apartment values in the NMA hence enabling them to offer informed professional advice. However, the findings of the study are limited to the study area since real estate is heterogeneous.Social implicationsProperty investors, financiers and other stakeholders in the society will benefit from the findings of this study in their decision-making process. Additionally, wide adoption of the more reliable and accurate valuation approaches would foster public confidence in valuation and estate management professional services leading to enhanced consumption of these services by the society and promoting public care.Originality/valueThe paper is promoting valuation accuracy, efficiency and reliability in the developing economies by advocating for advanced valuation methods. It is the first attempt to develop a valuation model for apartments in the NMA, the capital city of Kenya and the business hub of East and Central Africa.

PurposeThis study aims to investigate the evolvement of the concept and practice of the Rotating Savings and Credit Association (ROSCA) from informal fund collection for indivisible durables to real property acquisition under the interest-free SBF model by analyzing the previously conducted research that focused on the concept in terms of names, forms, and natures.Design/methodology/approachA PRISMA-compliant systematic literature review is adopted to ascertain the most relevant studies from various sources and analyze the extracted data or items to accomplish the research objective. Besides, bibliometric network, thematic, and statistical analysis are also applied to bolster the findings acquired from the systematic review. Furthermore, this study mathematically formulates and introduces the customized PRISMA systematic flowchart.FindingsThe results reveal that the concept of ROSCA has evolved over the years from informal to formal, micro to macro, individual to institutional, social to business, and fund collection for purchasing household items to real property acquisition since 1962. In this process, the focus area of the research has been shifted from characteristics, operation, and economics to law; source of funds, and history to social; benefits and contribution to digital, risk, and savings behaviour. It is noticed that the majority of the study are Africa-centric, followed by Asia; academic discussion on the ROSCA covers most of the social and economic arena, except the real property acquisition aspect. However, the SBF concept fills up this gap by introducing a real-property-acquisition-centric ROSCA model. The authors provide future agendas regarding focus areas that researchers may consider to develop the SBF concept.Originality/valueThe study focuses on the evolvement of a savings-based model. No study concentrates on the evolution process of the model from ROSCA to SBF; in fact, no conspicuous academic study is found regarding the systematic review of ROSCA in the literature archive.