- Autor
- Oladapo Rasidat Adejoke (Federal University of Technology Akure, Ondo State, Nigeria), Asaju Abedakin Simeon (Federal University of Technology Akure, Ondo State, Nigeria)
- Tytuł
- Market Cycle Position in the Quality of Property Managers' Advice in Victoria Island, Lagos State, Nigeria
- Źródło
- Przedsiębiorczość Międzynarodowa, 2015, vol. 1, nr 2, s. 97-108, tab., bibliogr. 20 poz.
- Tytuł własny numeru
- International Business and Global Economy
- Słowa kluczowe
- Nieruchomości, Wynajem lokali biurowych, Doradztwo inwestycyjne
Real estate, Office space for rent, Investment consulting - Uwagi
- summ.
- Kraj/Region
- Nigeria
Nigeria - Abstrakt
- The paper described the position of market cycle in the quality of office property investment advice given by property managers in Victoria Island Lagos, Nigeria. Previous study in that location had established the presence of a steep market waves between 1995 and 2014. This study further examined the various factors normally considered by these managers in counseling the office property owners with a bid to determine their level of knowledge and importance placed on market cycle in rendering such services. The study was a survey research in which data were collected through well-structured close-ended questionnaire administered to the office property managers / investors with variables capturing quality of managers advice on a 5 point liker scale with their mean scores calculated; while Kendall coefficient of concordance W was employed to identify the level of agreement that exist among these managers. The findings underscore managers' consideration of market cycle in that locality for a period of ten years while given advice but that most managers' emphasis was on market value trends. Market outcome trends had earlier been noted as a misleading and deceptive form of market performance and managers must be careful in its usage. The managers' rating further revealed lack of knowledge and application of the market cycle indicators; and that managers lack data storage and applied research credibility which could bear on their quality of advice on when to let, purchase or sell, start a new development or convert existinguse, or wait for ripe period. The second analysis inferred that there was no significant agreement at 5% level in the ranking of the variables managers considered while giving advice to their clients; an evidence of lack of cooperation among managers in the study area. (original abstract)
- Dostępne w
- Biblioteka Główna Uniwersytetu Ekonomicznego w Krakowie
- Pełny tekst
- Pokaż
- Bibliografia
- Appraisal Institute (2001). The Dictionary of Real Estate Appraisal. 4th Edition. Chicago: Library of Congress Cataloguing in-publication.
- Barras R. (1994). Property and the Economic Cycle: Building Cycles Revisited. Journal of Property Research, 11(3), 183-197.
- Baum A. (1996). Long Term Performance Data for UK Commercial Property.
- Brown G., & Kim H.L. (2001). Cyclical Relationship between Commercial Real Estate and Property Stock Prices. Journal of Property Research, 18(4), 309-320.
- Clayton J. (1996). Market Fundamentals Risk and the Canadian Property Cycle: Implication for Property Valuation and Investment Decisions. Journal of Real Estate Research, 12 (3), 347-367.
- DiPasquale D., & Wheaton W. (1996). Urban Economics and Real Estate Markets. New Jersey, NJ: Prentice Hall.
- Kaiser R. (1997). The Long Cycle in Real Estate. Journal of Real Estate Research, 14(3), 233-257.
- Lagos Street Maps (2008). Lagos Street Map. Lagos: West African Book Publishers Limited.
- Lawal M.I. (2000). Estate Development Practice in Nigeria. Lagos: ILCO Books and Publishers.
- Oladapo R.A. (2000). Analysis of Office Property Rental Market in Akure. Nigeria: Unpublished M. Tech Thesis, Federal University of Technology Akure.
- Omuojine E.O. (1994). Property Market in Nigeria, Analysis and Perspective. The Estate Surveyors and Valuers, 18(1), 15-21.
- Oyebanji A.O. (2003). Principles of Land Use Economics. Lagos: CEPDM.
- Pyrr S.A. (1999). Real Estate Cycle and Their Strategic implications for Investors and Portfolio: Managing in the Global Economy. Journal of Real Estate Reseaerch,18(1), 7-68.
- Pyrr S.A., & Born W.L. (1996). Real Property Valuation in a Changing Economy and Market Cycle. The Appraisal Journal, 64(1),14-26.
- RICS (1999). The U.K. Property Cycle a History from 1921 to 1997. London: The Royal Institution of Chartered Surveyors.
- Scott P., & Guy J. (2000). Cycles and Steps in British Commercial Property Values. Portsmouth: University of Portsmouth.
- Stephen L., & Steven D. (2002). Country, Sector and Regional Factors in European Property returns. Greenlands: The University of Reading Business School. Centre for Real Estate Research (CRER).
- Trass Z. (2004). Global Real Estate Markets - Cycles and Fundamentals. Cambridge: National Bureau of Economic Research.
- Wang P. (2003). A Frequency Domain Analysis of Common Cycle in Property and related Sectors. Journal of Real Estate Research, 25(3), 325-346.
- Whitten R.G. (1987). Riding the Inflation Cycle. Real Estate Today, 42-48.
- Cytowane przez
- ISSN
- 2543-537X
- Język
- eng