- -

An Analytic Hierarchy Process (AHP) framework for property valuation to identify the ideal 2050 portfolio mixes in EU-27 countries with shrinking populations

RiuNet: Repositorio Institucional de la Universidad Politécnica de Valencia

Compartir/Enviar a

Citas

Estadísticas

  • Estadisticas de Uso

An Analytic Hierarchy Process (AHP) framework for property valuation to identify the ideal 2050 portfolio mixes in EU-27 countries with shrinking populations

Mostrar el registro sencillo del ítem

Ficheros en el ítem

dc.contributor.author Cervelló Royo, Roberto Elías es_ES
dc.contributor.author Guijarro, Francisco es_ES
dc.contributor.author Pfahler, Thomas es_ES
dc.contributor.author Preuss, Marion es_ES
dc.date.accessioned 2017-05-10T16:58:34Z
dc.date.available 2017-05-10T16:58:34Z
dc.date.issued 2016-09
dc.identifier.issn 0033-5177
dc.identifier.uri http://hdl.handle.net/10251/80841
dc.description The final publication is available at Springer via http://dx.doi.org/10.1007/s11135-015-0264-3 es_ES
dc.description.abstract [EN] This paper presents a new methodology to evaluate the development trends of the residential trade and industry up until 2050. In the first step available data are analysed for the period 1970–2050. In the second step an expert assessment based on the Analytic Hierarchy Process (AHP) methodology is integrated to reflect the estimation of various expert forecasts of the future. The AHP methodology is based on different variables in the fields of demographic, social-environmental as well as build-quality characteristics to imply a widespread perception of the portfolio mix of habitations in 2050. There will mainly be a focus on several EU-27 countries with potential future-shrinking populations like Bulgaria, Estonia, Germany, Hungary, Latvia, Lithuania, Poland, Romania and Slovakia. Furthermore, they will be compared with Spain whose population is expected to increase. es_ES
dc.language Inglés es_ES
dc.publisher Springer Verlag (Germany) es_ES
dc.relation.ispartof Quality and Quantity es_ES
dc.rights Reserva de todos los derechos es_ES
dc.subject Analytic Hierarchy Process es_ES
dc.subject European Union 27 es_ES
dc.subject 2050 real estate portfolio es_ES
dc.subject Demographic development es_ES
dc.subject Social-environmental development es_ES
dc.subject.classification ECONOMIA FINANCIERA Y CONTABILIDAD es_ES
dc.title An Analytic Hierarchy Process (AHP) framework for property valuation to identify the ideal 2050 portfolio mixes in EU-27 countries with shrinking populations es_ES
dc.type Artículo es_ES
dc.identifier.doi 10.1007/s11135-015-0264-3
dc.rights.accessRights Abierto es_ES
dc.contributor.affiliation Universitat Politècnica de València. Facultad de Administración y Dirección de Empresas - Facultat d'Administració i Direcció d'Empreses es_ES
dc.description.bibliographicCitation Cervelló Royo, RE.; Guijarro, F.; Pfahler, T.; Preuss, M. (2016). An Analytic Hierarchy Process (AHP) framework for property valuation to identify the ideal 2050 portfolio mixes in EU-27 countries with shrinking populations. Quality and Quantity. 50(5):2313-2329. doi:10.1007/s11135-015-0264-3 es_ES
dc.description.accrualMethod S es_ES
dc.relation.publisherversion http://dx.doi.org/10.1007/s11135-015-0264-3 es_ES
dc.description.upvformatpinicio 2313 es_ES
dc.description.upvformatpfin 2329 es_ES
dc.type.version info:eu-repo/semantics/publishedVersion es_ES
dc.description.volume 50 es_ES
dc.description.issue 5 es_ES
dc.relation.senia 316316 es_ES
dc.identifier.eissn 1573-7845
dc.description.references Aczél, J., Saaty, T.: Procedures for synthesizing ratio judgements. J. Math. Psychol. 27, 93–102 (1983) es_ES
dc.description.references Afshari, M., Mafi, E.: Land capability assessment for regional planning using AHP and GIS at Shandiz Urban Region, Northeast Iran. Environ. Urban. ASIA 5(1), 105–118 (2014) es_ES
dc.description.references Aguarón, J., Escobar, M.T., Moreno-Jiménez, J.M.: The precise consistency consensus matrix in a local AHP-group decision making context. Annal. Operat. Res. 4, 1–15 (2014) es_ES
dc.description.references Aznar, J., Caballer, V.: An application of the analytic hierarchy process method in farmland appraisal. Span. J. Agric. Res. 3(1), 17–24 (2005) es_ES
dc.description.references Aznar, J., Cervelló, R., Romero, A.: New spanish banking conglomerates. Application of the analytic hierarchy process (AHP) to their market value. Int. Res. J. Financ. Econ. 78, 70–82 (2011a) es_ES
dc.description.references Aznar, J., Ferrís-Oñate, J., Guijarro, F.: An ANP framework for property pricing combining quantitative and qualitative attributes. J. Oper. Res. Soc. 61, 740–755 (2010) es_ES
dc.description.references Aznar, J., Guijarro, F., Moreno-Jiménez, J.M.: Mixed valuation methods: a combined AHP-GP procedure for individual and group multicriteria agricultural valuation. Ann. Oper. Res. 190, 221–238 (2011b) es_ES
dc.description.references Boulmier, M.: Meeting the needs of an ageing population-a challenge for our collective consciousness and public policies. In: CECODHAS (ed.) Preparing the Future-Affordable Housing and the Challenge of an Ageing Population in Europe-Success Stories, pp. 6–8. Publications Office of CECODHAS Housing Europe, Brussels (2012) es_ES
dc.description.references Cambra-Fierro, J., Hart, S.J., Polo-Redondo, Y., Fuster-Mur, A.: Market and learning orientation in times of turbulence: relevance questioned? An analysis using a multi-case study. Qual. Quant. 46(3), 855–871 (2011) es_ES
dc.description.references CECODHAS Housing Europe (eds): Welfare Transformation and Demographic Change in Europe: Challenges for the Social Housing Sector. Publications Office of CECODHAS Housing Europe, Brussels (2007) es_ES
dc.description.references CECODHAS Housing Europe (eds): Housing Europe Review 2012-The Nuts and Bolts of European Social Housing Systems. Publications Office of CECODHAS Housing Europe, Brussels (2011) es_ES
dc.description.references CECODHAS Housing Europe (eds): Preparing the Future—Affordable Housing and the Challenge of an Ageing Population in Europe—success Stories. Publications Office of CECODHAS Housing Europe, Brussels (2012) es_ES
dc.description.references Chang, C., Ku, C., Ho, H., Liao, C.: A MCGP decision aid for homebuyers to make the best choice. Qual. Quant. 45, 969–983 (2011) es_ES
dc.description.references Chauhan, K., Shah, N., Rao, V.: The analytic hierarchy process as a decision-support system in the housing sector: a case study. World Appl. Sci. J. 3(4), 609–613 (2008) es_ES
dc.description.references Clayton, J., MacKinnon, G.: The time-varying nature of the link between REIT, real estate and financial asset return. J. R. Estat. Portf. Manag. 7(1), 43–54 (2001) es_ES
dc.description.references Din, A., Hoesli, M., Bender, A.: Environmental variables and real estate prices. Urban Stud. 38(11), 1989–2000 (2001) es_ES
dc.description.references European Commission (ed.): The 2012 Ageing Report—Economic and Budgetary Projections for the 27 EU Member States (2010–2060). Publications Office of the European Union, Brussels (2012) es_ES
dc.description.references Eurostat (eds): Europa in Zahlen—Eurostat Jahrbuch 2010. Publications Office of the European Union, Brussels (2010) es_ES
dc.description.references Eurostat (eds): Demography Report 2010—Older, More Numerous and Diverse Europeans. Publications Office of the European Union, Luxembourg (2011) es_ES
dc.description.references Eurostat (eds): Focus on Territorial Typologies. Publications Office of the European Union, Brussels (2012a) es_ES
dc.description.references Eurostat (eds): Europe in Figures—Eurostat Yearbook 2012. Publications Office of the European Union, Brussels (2012b) es_ES
dc.description.references Eurostat (eds): Figures for the Future-20 years of Sustainable Development in Europe? A guide for citizens. Publications Office of the European Union, Brussels (2012c) es_ES
dc.description.references Geohive (eds): Urban/Rural Division of Countries for 2010. http://www.geohive.com/earth/pop_urban2.aspx (2010) es_ES
dc.description.references Gibb, K., Hoesli, M.: Developments in Urban housing and property markets. Urban Stud. 40(5–6), 887–896 (2003) es_ES
dc.description.references Gómez-Navarro, T., Garcia-Melón, M., Diaz-Martin, D., Acuna-Dutra, S.: Evaluation of urban development proposals—An ANP approach. Int. J. Hum. Soc. Sci. 4(7), 1–11 (2009) es_ES
dc.description.references Hoesli, M., Hamelink, F.: What factors determine international real estate security returns? R. Estat. Econ. 32(3), 437–462 (2004) es_ES
dc.description.references Hoesli, M., Lekander, J.: Real estate portfolio strategy and product innovation in Europe. J. Prop. Invest. Financ. 26(2), 162–176 (2008) es_ES
dc.description.references Hoesli, M., Lekander, J., Witkiewicz, W.: International Evidence on Real Estate as a Portfolio Diversifier. J. R. Estat. Res. 26(2), 161–206 (2004) es_ES
dc.description.references HSBC Global Research (eds): The World in 2050. Publications Office of HSBC Global Research, London (2012) es_ES
dc.description.references Khumpaisal, S., Chen, Z.: Risks Assessment in Real Estate Development: An Application of Analytic Network Process. Printed version of the School of Built Environment. Liverpool John Moores University, 1–26 (2007) es_ES
dc.description.references Lachman, L.: Global Demographics and their Real Estate Investment Implications. Publications Office of the Urban Land Institute, Washington (2006) es_ES
dc.description.references Lynn, D.: Active Private Equity Real Estate Strategy. John Wiley & Sons Inc, New Jersey (2009) es_ES
dc.description.references Maurer, R., Reiner, F., Rogalla, R.: Return and risk of German open-end real estate funds. J. Prop. Res. 21(3), 209–233 (2004) es_ES
dc.description.references Ministry of the Interior and Kingdom Relations (eds): Housing Statistics in the European Union. Publicatons Office of the Ministry of the Interior and Kingdom Relations, Delft (2010) es_ES
dc.description.references Moulaert, F., Martinelli, F., González, S., Swyngedouw, E.: Introduction: social innovation and governance in European cities—Urban development between path dependency and radical innovation. Eur. Urban Reg. Stud. 14(3), 195–209 (2007) es_ES
dc.description.references Novy, A., Redak, V., Jäger, J., Hamedinger, A.: The end of red vienna: recent ruptures and continuities in Urban governance. Eur. Urban Reg. Stud. 8(2), 131–144 (2001) es_ES
dc.description.references OECD (eds): OECD Environmental Outlook to 2050—The Consequences of Inaction. OECD publications, Paris (2012) es_ES
dc.description.references Patrizia Research AG (eds): Residential Market Report Europe 2010/2011. Publications Office of the Patrizia Research AG, Augsburg (2012) es_ES
dc.description.references Philippas, N., Economou, F., Babalos, V., Kostakis, A.: Herding behavior in REITs: Novel tests and the role of financial crisis. Int. Rev. Financ. Anal. 29, 166–174 (2013) es_ES
dc.description.references Rodríguez, A., Martínez, E., Guenaga, G.: Uneven redevelopment—new Urban policies and socio-spatial fragmentation in metropolitan bilbao. Eur. Urban Reg. Stud. 8(2), 161–178 (2001) es_ES
dc.description.references Saaty, T.L.: Decision Making for Leaders. RWS Publications, Pittsburgh (1990) es_ES
dc.description.references Saaty, T.L.: Making and validating complex decisions with the AHP/ANP. J. Syst. Sci. Syst. Eng. 14(1), 1–36 (2005) es_ES
dc.description.references Saaty, T.L.: Theory and Applications of the Analytic Network Process—Decision Making with Benefits, Opportunities, Costs and Risks. RWS Publications, Pittsburgh (2009) es_ES
dc.description.references Saaty, T.L., Vargas, L.: Models, Methods, Concepts & Applications of the Analytic Hierarchy Process. Kluwer Academic Publishers, Stanford (2001) es_ES
dc.description.references Sarathy, P.: TQM practice in real-estate industry using AHP. Qual. Quant. 47, 2049–2063 (2013) es_ES
dc.description.references Schoenmaeckers, R., Kotowska, I.: Population ageing and its challenges to social policy: study prepared for the European population conference 2005. Popul. Stud. 2005(50), 1–178 (2005) es_ES
dc.description.references Stephen, L., Simon, S.: The case for REITs in the mixed-asset portfolio in the short and long run. J. R. Estat. Portf. Manag. 11(1), 55–80 (2005) es_ES
dc.description.references UNFPA-United Nations Populations Fund (eds): Indicators of Ageing and older Persons: World, Regions, Countries, 2012 and 2050. Publications Office of the United Nations Populations Fund, New York (2013) es_ES
dc.description.references United Nations (ed.): Demographic Yearbook 1970. Publications Office of the United Nations, New York (1971) es_ES
dc.description.references United Nations (ed.): Compendium of Housing Statistics. Publications Office of the United Nations, New York (1974) es_ES
dc.description.references United Nations (ed.): Compendium of Human Settlements Statistics. Publications Office of the United Nations, New York (2001) es_ES
dc.description.references United Nations (ed.): Demographic Yearbook 2012. Publications Office of the United Nations, New York (2012) es_ES
dc.description.references United Nations (ed.): World Population Prospects—The 2012 Revision; Volume I: Comprehensive Tables. Publications Office of the United Nations, New York (2013) es_ES
dc.description.references Wen, F., Li, L.: Based on AHP-fuzzy comprehensive evaluation method of real estate investment risk research. Atlantis Press—Proceedings of the 2nd International Conference On Systems Engineering and Modeling, 413–417 (2013) es_ES
dc.description.references Worzala, E., Sirmans, C.F.: Investing in international real estate stocks: a review of the literature. Urban Stud. 40(5–6), 1115–1149 (2003) es_ES


Este ítem aparece en la(s) siguiente(s) colección(ones)

Mostrar el registro sencillo del ítem