Štaube, T; Leemeijer, B; Geipele, S; Kauškale, L; Geipele, I and Jansen, J (2016) Economic and financial rationale for age-friendly housing. Journal of Financial Management of Property and Construction, 21(2), pp. 99-121. ISSN 1366-4387
Abstract
Purpose This study aims to indicate the reasons and provide practical suggestions to financial viability of the age-friendly housing as a sustainable construction. Design/methodology/approach The paper reviews the primary and secondary literary sources, logical approach and comparisons of real estate and socio-economic regional statistics and conducts analysis of case studies. Findings The study contains the results from empirical analysis on the topicality of an age-friendly built environment in the scientific literature. Key principles are identified for a current early stage of the development of a concept of the age-friendly housing. A research on the current socio-economic aspects of the creation of an age-friendly built environment is made. The practical cases of the age-friendly housing are inspected. Timely developed age-friendly housings may expect growing demands, but thorough calculation on future income is required. Research limitations/implications The research is carried on a scale of two countries – the Kingdom of the Netherlands and the Republic of Latvia. Practical implications The paper provides new developments in construction sector of Latvia and the Netherlands in terms of intention to further scientific and practical activities. The research has to identify the socio-economic aspects and the impact and importance of those in determining the revenues of age-friendly construction. Social implications Age-friendly construction is going to become the standard of the sustainable property development, whereby the developers and investors will not make additional investments as they are compensated up front, and society as a total gets the revenues on the long term. Once this “wheel is turning”, the benefits will be permanent. Originality/value Latvia is being analysed in comparison with the Netherlands. The authors challenged to find opportunities to both countries from the economic viability’s point of view for the age-friendly housing developments.
| Item Type: | Article |
|---|---|
| Uncontrolled Keywords: | sustainable construction; ageing population; cost effectiveness; age-friendly housing; flexibility of living |
| Index terms: | Latvia, Netherlands, revenue, cost-effectivenes, sustainable construction, society, flexibility of living, construction sector, methodology, age-friendly housing, financial viability, investor, case study, statistics, property development, real estate, income, built environment, ageing population |
| Subjects: | sociology, demography, communities and social development, industry analysis, infrastructure and transport systems, research methods, economics, economic development, design practice, sustainable construction, Geography, real estate economics, economic analysis, business management, mathematical modelling, data collection methods, construction type |
| Topics: | Design Practice, Urban Studies, Stakeholder Management, Construction Technology, Sustainability, Business Strategy, Cost Management, Geographical Context, Research Practice |
| Descriptive scope: | 5 PCTEA |
N.B. Descriptive scope is a count of how many of the five facets of empirical research are indicated by the words used in title, abstract and keywords. It is not intended as a judgement on the research; merely a count of the kind of word we would expect to indicate Phenomenon, Concepts, Theoretical framing, Empirical techniques, Analytical techniques. If all five are present, then a code of “5 PCTEA” will indicate this. If you feel the coding for this record is questionable, we welcome discussion around the terms we matched or the way we categorized them. The facet you would expect may not be coded, or a facet may be coded inappropriately. This can also bear on a larger question, of which facets should be treated as defining in construction management research. Please get in touch, and we will look at it. More details here