The Wakeup Call of Covid-19 : Perceptions of Crisis Impacts in the Real Estate Market
Loading...
Access rights
openAccess
publishedVersion
URL
Journal Title
Journal ISSN
Volume Title
A1 Alkuperäisartikkeli tieteellisessä aikakauslehdessä
This publication is imported from Aalto University research portal.
View publication in the Research portal (opens in new window)
View/Open full text file from the Research portal (opens in new window)
Other link related to publication (opens in new window)
View publication in the Research portal (opens in new window)
View/Open full text file from the Research portal (opens in new window)
Other link related to publication (opens in new window)
Date
2023
Department
Major/Subject
Mcode
Degree programme
Language
en
Pages
12
Series
International Journal of Strategic Property Management, Volume 27, issue 1, pp. 64-75
Abstract
Participants in the real estate market are exposed to a variety of endogenous and exogenous crises. Because the real estate market environment is closely interconnected with the broader society and its diverse forces, the direct and indirect impacts of crises are experienced through changes in real estate market dynamics. In the future, the market environment is expected to be even more challenging, full of complexity, uncertainties, and ambiguities, which will require developing the skills, first, to learn from crises already experienced and then to foresee, prevent, or adapt to ones yet unseen. This article aims to deepen the understanding of how crisis impacts were perceived in the real estate market during the COVID-19 pandemic. The research applies a qualitative approach by interviewing 19 real estate market professionals in Finland to identify the factors influencing market dynamics, such as market sentiments, preferences, and procedures. The results will help market participants understand the diversity of crisis impacts, their interconnections, and how they are perceived. The findings contribute to the real estate literature by offering a qualitative perspective that supports individuals and organizations in developing risk and crisis management skills and contributes to building a more resilient real estate market to support communities.Description
Keywords
COVID-19, Crisis management, Forecasting, Market preferences, Pandemic, Resilience, Risk management, Shocks
Other note
Citation
Toivonen, S, Sinisalo, H & Uusitalo, E 2023, ' The Wakeup Call of Covid-19 : Perceptions of Crisis Impacts in the Real Estate Market ', International Journal of Strategic Property Management, vol. 27, no. 1, pp. 64-75 . https://doi.org/10.3846/ijspm.2023.18842