DC12

University College London

United Kingdom

Description

New ways to assess value in real estate and housing markets in urban transition

Research project 4a(DC 12)

investigates ‘New ways to assess value in real estate and housing markets in urban transition’.
The ever-increasing pace of technological change impacts how we view real estate value. For example, climate change is expected to have a bigger impact on value in the future, and so energy efficient solutions such as replacing conventional heat-systems, using circular, eco-friendly materials and more digital technologies inside the building are already taking place. These changes can boost building value by improving their operational parameters. In other instances, technical innovations are brought in because the functional requirements of buildings have increased, like energy-labels and environmental performance requirements. This raises the question: what do the above concepts mean for how market agents assess the value of real estate? Quantum theory will be applied by adopting a concept that value is only realised once buyer and seller have agreed a price and the actual transaction occurred (i.e., transfer of rights). Prior to that the value is not realised. The aim of this project is to provide a new framework for real estate valuation as part of an ecosystem and take into account the role real estate plays for the market players, the economy, and society.

Research project 4a (DC 12) investigates ‘New ways to assess value in real estate and housing markets in urban transition’. The ever-increasing pace of technological change impacts how we view real estate value. For example, climate change is expected to have a bigger impact on value in the future, and so energy efficient solutions such as replacing conventional heat-systems, using circular, eco-friendly materials and more digital technologies inside the building are already taking place. These changes can boost building value by improving their operational parameters. In other instances, technical innovations are brought in because the functional requirements of buildings have increased, like energy-labels and environmental performance requirements.

This raises the question: what do the above concepts mean for how market agents assess the value of real estate? Quantum theory will be applied by adopting a concept that value is only realised once buyer and seller have agreed a price and the actual transaction occurred (i.e., transfer of rights). Prior to that the value is not realised.

The aim of this project is to provide a new framework for real estate valuation as part of an ecosystem and take into account the role real estate plays for the market players, the economy, and society.

Host Institute: University College London

Country: United Kingdom

To apply

Application

Applications are to include:

A short cover letter explaining your personal motivation in pursuing a PhD, including how you see the PhD fitting into your career trajectory.
A CV, which should include details of your eligibility (degree and residency)
Copies of your BSc and MSc degrees and transcripts.
A sample of writing, e.g., master thesis, scientific publications, professional or popular science writing
Names and contact information of at least three relevant references. We will not contact references without your consent.