The COVID-19 Sentiment and Office Markets: Evidence from China

Wang, Shizhen; Lee, Chyi Lin; Song, Yan

doi:10.3390/buildings12122100

Cited by 10 publications

(5 citation statements)

References 65 publications

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“…Finally, considering that the face-to-face interviews were conducted prior to the COVID-19 pandemic, the impacts of the COVID-19 pandemic on senior housing development have not been fully considered in the present study. In addition to the penetration of new technologies, empirical studies have also found that the COVID-19 pandemic had a significant influence on housing markets in terms of vacancy rate [142], housing price [143], housing affordability [144], and housing demand [145]. Therefore, a future study in the post-COVID environment is needed to explore how political, economic, social, and technological factors could influence senior housing development in the post-pandemic era.…”

Section: Discussionmentioning

confidence: 99%

An Explorative Study of the Political, Economic, and Social Factors Influencing the Development of Senior Housing: A Case Study of Hong Kong

Wei

Sun

et al. 2023

Buildings

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Senior housing with age-friendly design and elderly care services contributes to the health and well-being of older people. Previous research has evidenced that the immediate environment factors of senior housing, such as the design of housing features and facilities, have a direct bearing on the satisfaction and quality of life of older people. However, external environment factors, such as political, economic, and social ones that affect key stakeholders’ behaviors in senior housing development, are relatively under-researched. Accordingly, this study aimed to explore the external environmental factors influencing the development of senior housing. Taking Hong Kong as case study, this study first commenced with a systematic review to identify the factors in political, economic, and social domains from global evidence. Following this, we interviewed local experts from academia, industry, and government to solicit their opinions on the relative importance of these factors. We then determined the factor rankings using the analytical hierarchy process method. The results showed that local experts perceived economic factors as the most critical ones in influencing senior housing development in Hong Kong, including land costs, funding from financial institutions, and government incentives. If policymakers tend to promote senior housing in densely populated cities like Hong Kong, the policies should be attractive for housing developers, such as land premium concessions and innovative financial channels for supporting the long-term development of senior housing.

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Section: Discussionmentioning

confidence: 99%

An Explorative Study of the Political, Economic, and Social Factors Influencing the Development of Senior Housing: A Case Study of Hong Kong

Wei

Sun

et al. 2023

Buildings

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“…Third, there were limits to the frequency of observations recorded in the field for this study. More recent public health and real estate research papers are beginning to fill this gap by examining impacts over longer periods of time (Lee et al, 2021;Carozzi et al, 2022;Guo et al, 2023;Kiaghadi et al, 2022;Motoyama, 2022;Wang et al, 2022a;Wu et al, 2022;Tsou et al, 2023). Fourth, as a study of urban neighborhoods, zoned for growth, in a US city, at the center of a metropolitan area, there are limits to the generalizability of this work and its findings.…”

Section: Discussionmentioning

confidence: 99%

Economic resilience during COVID-19: the case of food retail businesses in Seattle, Washington

Sun,

Whittington,

Ning

et al. 2023

Front. Built Environ.

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The first year of COVID-19 tested the economic resilience of cities, calling into question the viability of density and the essential nature of certain types of services. This study examines built environment and socio-economic factors associated with the closure of customer-facing food businesses across urban areas of Seattle, Washington. The study covers 16 neighborhoods (44 census block groups), with two field audits of businesses included in cross-sectional studies conducted during the peak periods of the pandemic in 2020. Variables describing businesses and their built environments were selected and classified using regression tree methods, with relationships to business continuity estimated in a binomial regression model, using business type and neighborhood socio-demographic characteristics as controlled covariates. Results show that the economic impact of the pandemic was not evenly distributed across the built environment. Compared to grocery stores, the odds of a restaurant staying open during May and June were 24%, only improving 10% by the end of 2020. Density played a role in business closure, though this role differed over time. In May and June, food retail businesses were 82% less likely to remain open if located within a quarter-mile radius of the office-rich areas of the city, where pre-pandemic job density was greater than 95 per acre. In November and December, food retail businesses were 66% less likely to remain open if located in areas of residential density greater than 23.6 persons per acre. In contrast, median household income and percentage of non-Asian persons of color were positively and significantly associated with business continuity. Altogether, these findings provide more detailed and accurate profiles of food retail businesses and a more complete impression of the spatial heterogeneity of urban economic resilience during the pandemic, with implications for future urban planning and real estate development in the post-pandemic era.

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“…The onset of the COVID-19 pandemic has had a significant impact on the broader economy and property markets [49,50]. As the COVID-19 pandemic began to affect global economies, governments across advanced economies developed substantial economic stimulus programs.…”

Section: The Covid-19 Economic Crisismentioning

confidence: 99%

The Unintended Consequences of COVID-19 Economic Responses on First Home Buyers? Evidence from New South Wales, Australia

Bangura

Lee

Schafer³

2023

Buildings

Self Cite

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As in many other nations, the Australian Government implemented monetary and fiscal policies in response to the COVID-19 pandemic to aid economic recovery. Among these policies were specific measures to assist first home buyers (FHBs) in entering the housing market. However, these unprecedented economic policies might have other direct and indirect implications on FHBs, which have yet to be thoroughly explored in the literature. To fill this gap, through a survey, we collected information via public and online mortgage broker platforms from 61 FHBs who successfully entered the housing market or were actively searching during the pandemic. The results found COVID-19 economic responses counterproductive for FHBs, pushing them to a more disadvantaged position due to an overheated property market. In addition, since the onset of the pandemic, property prices have risen significantly, exacerbating housing inequality as FHBs increasingly rely on intergenerational family support, take on more financial risk, and relocate to regional areas due to fear of missing out. The study highlights the need for macroeconomists and housing policymakers to consider these unintended consequences in formulating policies that minimise the adverse effects of economic stimulus measures.

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The COVID-19 Sentiment and Office Markets: Evidence from China

Cited by 10 publications

References 65 publications

An Explorative Study of the Political, Economic, and Social Factors Influencing the Development of Senior Housing: A Case Study of Hong Kong

An Explorative Study of the Political, Economic, and Social Factors Influencing the Development of Senior Housing: A Case Study of Hong Kong

Economic resilience during COVID-19: the case of food retail businesses in Seattle, Washington

The Unintended Consequences of COVID-19 Economic Responses on First Home Buyers? Evidence from New South Wales, Australia

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