Housing Heterogeneity Dimensions and Their Elements: a Systemic Approach
Housing market participants constantly face the housing heterogeneity - the technical and socio-economic differences of dwellings in a certain populated area. Housing heterogeneity often complicates the managerial decision making related to housing transactions, identification and objective evaluati...
| Main Authors: | , , , |
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| Format: | Article |
| Language: | English |
| Published: |
Sciendo
2017-11-01
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| Series: | Baltic Journal of Real Estate Economics and Construction Management |
| Subjects: | |
| Online Access: | https://doi.org/10.1515/bjreecm-2017-0003 |
| _version_ | 1811272565464760320 |
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| author | Vanags Jānis Geipele Ineta Sarkans Auseklis Usenieks Didzis |
| author_facet | Vanags Jānis Geipele Ineta Sarkans Auseklis Usenieks Didzis |
| author_sort | Vanags Jānis |
| collection | DOAJ |
| description | Housing market participants constantly face the housing heterogeneity - the technical and socio-economic differences of dwellings in a certain populated area. Housing heterogeneity often complicates the managerial decision making related to housing transactions, identification and objective evaluation of the quantitative and qualitative aspects of transactions. Housing heterogeneity is an objective phenomenon that implies housing uniqueness - housing distinguishing characteristics divided into specific and interconnected groups within the framework of the research. Most of these differences can be noticed by each market participant, but some of them can be identified only by experienced and professionally trained market participants. Theory and practice have demonstrated that the constituent groups of heterogeneity influence each other and take part in the formation of market value and transaction price of housing units. The increased housing construction intensity, the continuous modernisation of construction technologies and the diversification of building materials used in housing construction, as well as restriction of the building plot of land change the quantitative and qualitative aspects of heterogeneity dimensions. This poses considerable challenges to market participants in the managerial decision making process related to housing transactions. Research results demonstrate that the socio-economic elements of housing heterogeneity are constantly changing under the influence of the dominating factors of the external and internal environment. Therefore, nowadays, housing heterogeneity has become a major cause of information asymmetry, which means that heterogeneity is inherent in the formation of socio-economic market barriers in the housing market. |
| first_indexed | 2024-04-12T22:41:26Z |
| format | Article |
| id | doaj.art-695a58443f394d1f8d9863b644190ce6 |
| institution | Directory Open Access Journal |
| issn | 2255-9671 |
| language | English |
| last_indexed | 2024-04-12T22:41:26Z |
| publishDate | 2017-11-01 |
| publisher | Sciendo |
| record_format | Article |
| series | Baltic Journal of Real Estate Economics and Construction Management |
| spelling | doaj.art-695a58443f394d1f8d9863b644190ce62022-12-22T03:13:41ZengSciendoBaltic Journal of Real Estate Economics and Construction Management2255-96712017-11-0151233710.1515/bjreecm-2017-0003Housing Heterogeneity Dimensions and Their Elements: a Systemic ApproachVanags Jānis0Geipele Ineta1Sarkans Auseklis2Usenieks Didzis3Riga Technical University, Riga, LatviaRiga Technical University, Riga, LatviaReal Estate Investment Consultation Agency “Verus Investment”, Riga, LatviaRiga Technical University, Riga, LatviaHousing market participants constantly face the housing heterogeneity - the technical and socio-economic differences of dwellings in a certain populated area. Housing heterogeneity often complicates the managerial decision making related to housing transactions, identification and objective evaluation of the quantitative and qualitative aspects of transactions. Housing heterogeneity is an objective phenomenon that implies housing uniqueness - housing distinguishing characteristics divided into specific and interconnected groups within the framework of the research. Most of these differences can be noticed by each market participant, but some of them can be identified only by experienced and professionally trained market participants. Theory and practice have demonstrated that the constituent groups of heterogeneity influence each other and take part in the formation of market value and transaction price of housing units. The increased housing construction intensity, the continuous modernisation of construction technologies and the diversification of building materials used in housing construction, as well as restriction of the building plot of land change the quantitative and qualitative aspects of heterogeneity dimensions. This poses considerable challenges to market participants in the managerial decision making process related to housing transactions. Research results demonstrate that the socio-economic elements of housing heterogeneity are constantly changing under the influence of the dominating factors of the external and internal environment. Therefore, nowadays, housing heterogeneity has become a major cause of information asymmetry, which means that heterogeneity is inherent in the formation of socio-economic market barriers in the housing market.https://doi.org/10.1515/bjreecm-2017-0003housing heterogeneityhousing heterogeneity dimensionshousing marketsystemic approach |
| spellingShingle | Vanags Jānis Geipele Ineta Sarkans Auseklis Usenieks Didzis Housing Heterogeneity Dimensions and Their Elements: a Systemic Approach Baltic Journal of Real Estate Economics and Construction Management housing heterogeneity housing heterogeneity dimensions housing market systemic approach |
| title | Housing Heterogeneity Dimensions and Their Elements: a Systemic Approach |
| title_full | Housing Heterogeneity Dimensions and Their Elements: a Systemic Approach |
| title_fullStr | Housing Heterogeneity Dimensions and Their Elements: a Systemic Approach |
| title_full_unstemmed | Housing Heterogeneity Dimensions and Their Elements: a Systemic Approach |
| title_short | Housing Heterogeneity Dimensions and Their Elements: a Systemic Approach |
| title_sort | housing heterogeneity dimensions and their elements a systemic approach |
| topic | housing heterogeneity housing heterogeneity dimensions housing market systemic approach |
| url | https://doi.org/10.1515/bjreecm-2017-0003 |
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