Capturing Low Demand Through Long Time-On-Market
Functional Obsolescence and Owner Resignation Among Old Rental Houses
Bibliographic Data
| ID | 6427709 |
|---|---|
| Authors | Masatomo Suzuki (0000-0002-2713-0695, Yokohama City University, corresponding author), Yuta Arai (0000-0002-9578-2919, Reitaku University), Daisuke Yamato (Zeroinf Inc) |
| Year | 2024 |
| Volume | 42 |
| Issue | 2 |
| Pages | 187-211 |
| Publication date | 2024-07-03 |
| Peer Reviewed | Yes |
| Open Access | No |
| Type | ARTICLE |
| Venue | Housing Theory and Society (JOURNAL) |
| Journal identifiers | ISSN: 1403-6096 • E-ISSN: 1651-2278 |
| Publisher | Taylor & Francis (PUBLISHER • GB) |
| DOI | 10.1080/14036096.2024.2374764 |
| OpenAlex | W4400334809 |
| Language | EN |
| References cited | 30 |
In Asian countries, including Japan, the rapid demolition and new construction of housing continues, causing demand for old housing stock to fall. Employing unit-level listing information obtained from a real estate portal in the Tokyo rental housing market, this study differentiates vacancies by time dimension and documents that old properties are likely to spend a long time on the market, exceeding several months. This low demand for old houses can be attributed to functional obsolescence (lack of contemporary housing amenities and services) and owner resignation (lack of adequate countermeasures to fill vacancies regardless of their effectiveness). Our results indicate that even in popular property segments and neighbourhoods at the macro level, low demand broadly arises among old houses and is not always socially inefficient. Moreover, accelerating early redevelopment may improve social welfare by avoiding older properties sitting on the market for long periods
Business · Civil engineering · Obsolescence · Rental housing · Renting · Engineering · Housing Market and Economics · Housing, Finance, and Neoliberalism · Marketing
Examining Changes in Long‐Term Neighborhood Housing Vacancy during The 2011 to 2014 U.S. National Recovery
Housing Abandonment in Inner Cities-The Politics of Low Demand for Housing
Conceptualising Social Housing within the Wider Housing Market
Housing Vacancy and the Shrinking City
An Urban Regeneration Regime in China
Low Demand for Housing
Time On-market and Price Trade-offs in High-rise Housing Sub-markets
Gentrification and the Rent Gap
Gentrification inHongKong? Epistemology vs. Ontology
| Citation velocity | historical |
|---|---|
| Highly cited | No |