The need for more research on the Asian real estate markets
| DOI | https://doi.org/10.1108/JPIF-05-2020-0059 |
| Date | 23 June 2020 |
| Published date | 23 June 2020 |
| Pages | 3-8 |
| Subject Matter | Property management & built environment,Real estate & property,Property valuation & finance |
| Author | Graeme Newell |
The need for more research on the
Asian real estate markets
Graeme Newell
School of Business, Western Sydney University,
Parramatta, Australia
Abstract
Purpose –The Asian real estate markets have grown considerably in recent years and have taken on
increased investment importance, particularly with significant developments in the emerging markets in Asia.
This paper assesses the opportunities for more research on the Asian real estate markets, by highlighting the
significance of Asia real estate, the drivers behind this growth and the unique opportunities this presents for
high-quality real estate research, by both local researchers and their international colleagues. Strategies for
delivering this research agenda are also identified.
Design/methodology/approach –This research is based on a thorough understanding of the Asian real
estate markets, based on my own research agenda, personal interactions, insights and extensive discussions
with real estate leaders in the Asian markets. This is supported by a clear understanding of the real estate
research opportunities in the Asian markets and the strategies needed to deliver this research agenda in an
effective manner.
Findings–A range of real estate research areas are identified to increase the level of Asian real estate research.
This sees research opportunities around key areas such as market dynamics, real estate investment vehicles,
alternate realestate sectors, infrastructure and sustainability. Strategies for expanding this level of research for
both local and international real estate researchers are also identified.
Practical implications –With the Asian real estate markets taking on more importance with many
international real estate investors, it is important to see more high-quality research into these dynamic real
estate markets. This research will see a fuller understanding of these Asian real estate markets to enable more
informed real estate investment decision-making.
Originality/value –The need for more high-quality research into the Asian real estate markets is clearly
presented, with enabling strategies to achieve this agenda identified. This will see expanded research
opportunities to critically research these unique real estate markets and produce high-quality research
publications.
Keywords Asia, Real estate, Emerging markets, Developed markets, Research opportunities, Strategies
Paper type Viewpoint
Background
In recent years, I have done extensive travels in Asia, to both the developed markets (e.g.
Hong Kong, Singapore, South Korea) and the emerging markets (e.g. China, Vietnam, Laos,
Cambodia, Myanmar and Malaysia). I have always been surprised there is so little research
into these real estate markets, despite their dynamic and unique characteristics as emerging
markets. It is not something we have seen in the urban studies, planning and housing
journals, where the Asian markets have been extensively researched for many years.
Often when I have raised this issue with other real estate researchers, their response has been
that there are “issues”with the quality of Asian real estate data, often around the aspects of data
accuracy, transparency and the shorter data timeframes for these markets. I suspect this is also
the typical response from many real estate researchers who are from the developed markets and
have to referee these Asian real estate market papers for the various real estate journals, without
a good understanding of these markets, particularly referees in the United States. These built-in
biases often see these papers rejected, even though they may be high-quality papers and
examine unique real estate issues that add to the real estate body of knowledge.
Having reflected on these issues, I have tried to draw all of this together into a more
reasoned case for why we should be publishing more research on the Asian real estate
More research
on Asian real
estate markets
3
The current issue and full text archive of this journal is available on Emerald Insight at:
https://www.emerald.com/insight/1463-578X.htm
Received 23 May 2020
Revised 25 May 2020
Accepted 25 May 2020
Journal of Property Investment &
Finance
Vol. 39 No. 1, 2021
pp. 3-8
© Emerald Publishing Limited
1463-578X
DOI 10.1108/JPIF-05-2020-0059
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