Trends in Real Estate Economics and Livability

A special issue of Buildings (ISSN 2075-5309). This special issue belongs to the section "Architectural Design, Urban Science, and Real Estate".

Deadline for manuscript submissions: 30 June 2024 | Viewed by 15758

Special Issue Editors


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Guest Editor
Faculty of Geography, Yunnan Normal University, Kunming 650500, China
Interests: real estate; housing market; urban planning; livable environment

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Guest Editor
Department of Geography, South China Normal University, Guangzhou 510631, China
Interests: built environment and spatial behavior; residential differentiation; social space

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Guest Editor
College of Geographical Sciences, Southwest University, Chongqing 400715, China
Interests: urban planning; shrinking cities

Special Issue Information

Dear Colleagues,

This Special Issue reports on emerging trends in real estate economics and urban livability research. This will help to address the pressing challenges presented by megacities and livability issues. It is a well-known fact that major global megacities suffer from reduced livability due to high housing costs, housing inequality, and residential land scarcity. In contrast, some small and medium-sized cities are experiencing urban shrinkage due to migration, housing vacancy, and depressed real estate markets. Therefore, promoting healthy and sustainable real estate market development is required to improve urban livability.

This new Special Issue, hosted by the scientific journal Buildings, aims to garner excellent contributions and high-impact articles examining academic topics of urban construction and living space from the perspective of real estate economics and livability.

Prof. Dr. Yang Wang
Prof. Dr. Wangbao Liu
Prof. Dr. Pingjun Sun
Guest Editors

Manuscript Submission Information

Manuscripts should be submitted online at www.mdpi.com by registering and logging in to this website. Once you are registered, click here to go to the submission form. Manuscripts can be submitted until the deadline. All submissions that pass pre-check are peer-reviewed. Accepted papers will be published continuously in the journal (as soon as accepted) and will be listed together on the special issue website. Research articles, review articles as well as short communications are invited. For planned papers, a title and short abstract (about 100 words) can be sent to the Editorial Office for announcement on this website.

Submitted manuscripts should not have been published previously, nor be under consideration for publication elsewhere (except conference proceedings papers). All manuscripts are thoroughly refereed through a single-blind peer-review process. A guide for authors and other relevant information for submission of manuscripts is available on the Instructions for Authors page. Buildings is an international peer-reviewed open access monthly journal published by MDPI.

Please visit the Instructions for Authors page before submitting a manuscript. The Article Processing Charge (APC) for publication in this open access journal is 2600 CHF (Swiss Francs). Submitted papers should be well formatted and use good English. Authors may use MDPI's English editing service prior to publication or during author revisions.

Keywords

  • real estate development
  • residential space structure
  • housing vacancy
  • shrinking cities
  • residential mobility
  • gentrification
  • built environment
  • livable city
  • residential location
  • urban planning
  • urban renewal

Published Papers (11 papers)

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Research

28 pages, 3207 KiB  
Article
Do Consumers Have Colour Aesthetic Preferences for the Facade Materials of Condominium Buildings?
by Kaida Chen, Hanliang Lin, Yen-Jong Chen, Yue Xu, Shuhui Ding, Yujie Guo and Shuying You
Buildings 2024, 14(2), 557; https://doi.org/10.3390/buildings14020557 - 19 Feb 2024
Viewed by 759
Abstract
The distinct cultural environment of various regions leads to unique consumer preferences for building facades, including the colours and materials that are used for the exteriors of condominium buildings. Understanding these preferences holds significant industry reference value for urban planning authorities and residential [...] Read more.
The distinct cultural environment of various regions leads to unique consumer preferences for building facades, including the colours and materials that are used for the exteriors of condominium buildings. Understanding these preferences holds significant industry reference value for urban planning authorities and residential development companies. However, the colour and material aesthetic preferences of consumers for building facades have not received much research attention. To fill this gap, this study empirically investigates these preferences within the cultural context of Fuzhou, China. Using house prices as a reference perspective and econometric methods as research tools, this study explores the specific aesthetic preferences of urban consumer groups and compares the preferences of groups with different levels of consumption. The results confirm the existence of specific consumer preferences for building facade colours and materials and a close connection among the variations in these preferences and various combinations of facade colours and materials. Different quantities and types of materials can lead to distinct preferences for the quantities and features of facade colours. Apart from providing precise professional insights for urban planning authorities and residential developers, this study also offers a feasible conceptual reference for future studies to be conducted in other regions. Full article
(This article belongs to the Special Issue Trends in Real Estate Economics and Livability)
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17 pages, 2482 KiB  
Article
Reconstructing Social Segregation in Danwei: An Examination of High-Quality Education Resources’ Impact on Housing Prices in Nanjing, China
by Shuqi Jin, Yuhui Zhao and Chunhui Liu
Buildings 2023, 13(10), 2427; https://doi.org/10.3390/buildings13102427 - 23 Sep 2023
Cited by 1 | Viewed by 686
Abstract
This study investigates the impact of capitalizing educational resources on housing prices. As housing has gradually transitioned from a basic social right to a means of accumulating individual and familial wealth, it has emerged as a significant indicator of social stratification and has [...] Read more.
This study investigates the impact of capitalizing educational resources on housing prices. As housing has gradually transitioned from a basic social right to a means of accumulating individual and familial wealth, it has emerged as a significant indicator of social stratification and has increasingly become a crucial tool for the intergenerational reproduction of social class. This paper takes Nanjing, China, as a case study and uses the geographically weighted regression model (GWR) and the hedonic pricing model (HPM) to investigate the impact of high-quality primary schools on housing prices. The results show that high-quality educational resources have become the most significant influencing factor on residential prices in Nanjing. The analysis in the mechanism section further indicates that the uneven distribution of educational resources in China is a continuation of the “danwei” system. Moreover, during the urbanization process, these high-quality educational resources are often leveraged by the government and developers, who see them as essential tools to attract investment and inflate housing prices. Therefore, the current overlap of the school district system and the marketization of housing in China not only intensifies residential segregation within the city, leading to severe residential inequality but also rebuilds social segregation within “danwei” and facilitates its reproduction. Full article
(This article belongs to the Special Issue Trends in Real Estate Economics and Livability)
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23 pages, 13588 KiB  
Article
Spatio-Temporal Evolution and Influencing Factors of Integrated Urban–Rural Development in Northeast China under the Background of Population Shrinkage
by Yige Sun, Qingshan Yang and Jian Liu
Buildings 2023, 13(9), 2173; https://doi.org/10.3390/buildings13092173 - 27 Aug 2023
Viewed by 772
Abstract
Population shrinkage has had a certain negative impact on urban and rural development in many aspects. The impact of population shrinkage on urban–rural integration has become one of the core scientific issues that needs to be addressed in the current research on promoting [...] Read more.
Population shrinkage has had a certain negative impact on urban and rural development in many aspects. The impact of population shrinkage on urban–rural integration has become one of the core scientific issues that needs to be addressed in the current research on promoting the goal of common prosperity in China. Northeast China is a typical region in China that is experiencing a decrease in population and economic activity. Investigating the integrated development of urban and rural areas in this region is highly important for revitalizing Northeast China. This research paper focuses on 32 prefecture-level cities in Northeast China and utilizes spatial correlation analysis and the Geographical Weighted Regression model to uncover the evolving spatial patterns and influential factors affecting integrated urban–rural development in the context of population decline. The findings revealed the following: (1) The level of integrated urban–rural development in Northeast China continues to rise despite the shrinking population. During the comprehensive population decline stage, the growth rate of the urban–rural coupling coordination degree surpasses that of the initial stage. The areas with high values of urban–rural coupling coordination degree shift from northeastern Heilongjiang to four sub-provincial cities. The spatial correlation between urban–rural coupling and coordinated development weakens, with the main type being low–low agglomeration. (2) Factors such as economic development level, labor force size, urbanization level, level of openness, urban–rural accessibility, and proportion of built-up areas significantly correlate with urban–rural coupling and coordination. The influence of each factor varies in magnitude and direction across different locations. Labor force size and urban–rural accessibility have the most-significant impact on integrated urban–rural development, with labor force size having a positive effect and urban–rural accessibility having a negative effect. The impact of the economic development level follows a pattern of initial increase and subsequent decrease as the population shrinks. (3) Although population decline does not hinder integrated urban–rural development in Northeast China, it is closely connected to changes in the factors influencing such development. To capitalize on the development opportunities presented by national policies, Northeast China should adopt a model of urban–rural development that promotes rural growth through cities. This entails attracting talented individuals to return, enhancing the flow of urban–rural development elements in both directions, and creating a spatial development pattern characterized by “big city, big agriculture, and big ecosystem”. By doing so, the revitalization of Northeast China can be achieved. Full article
(This article belongs to the Special Issue Trends in Real Estate Economics and Livability)
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17 pages, 3459 KiB  
Article
Spatial Variation Characteristics of Housing Conditions in China
by Yang Wang, Youyang You, Xiaoli Yue, Yingmei Wu, Yan Zhou and Hong’ou Zhang
Buildings 2023, 13(8), 2028; https://doi.org/10.3390/buildings13082028 - 09 Aug 2023
Cited by 1 | Viewed by 848
Abstract
The evaluation of housing conditions is a crucial aspect of determining the well-being of residents and the sustainable development of settlements. Assessing housing conditions at a macro-level is imperative to understand the differences in well-being and livability among residents in various regions within [...] Read more.
The evaluation of housing conditions is a crucial aspect of determining the well-being of residents and the sustainable development of settlements. Assessing housing conditions at a macro-level is imperative to understand the differences in well-being and livability among residents in various regions within a country. Unfortunately, the spatial variation characteristics of housing conditions in China have not been extensively studied at the county scale. Thus, this study examines the housing conditions in China by using 2846 counties as the basic research unit. A housing condition evaluation index system, comprising seven indicators, is constructed based on three aspects: housing spaciousness, internal facilities, and elevator configuration. The entropy value method is used to determine the weights of the indicators, and the spatial difference patterns and spatial autocorrelation characteristics of the housing conditions and types of housing conditions in China are analyzed. The correlation analysis method is used to analyze the correlation between the subtypes of housing conditions and county fundamentals (population density, urbanization, foreign population, and rental housing). The results show that: (1) the configuration of elevators is the most important indicator of the differences in housing conditions in China; (2) the better housing conditions in China are distributed on the southeast side of the “Hu Line”, while the worse areas are distributed on the northwest side of the “Hu Line”, showing significant spatial clustering characteristics, while the distribution of the different subtypes of housing conditions and their distribution in the H–H and L–L zones also have significant variability; (3) housing conditions in China’s urban areas are generally better than those in non-urban areas, and the internal infrastructure conditions of urban housing and the degree of elevator configuration are better than those in non-urban areas; and (4) the correlation between housing conditions and county fundamentals varies depending on the regional level. At the national and urban levels, a negative correlation exists between county fundamentals and housing spaciousness, although a positive correlation exists with internal infrastructure and elevator configuration. Urbanization has the greatest impact on housing conditions in these areas. In non-urban areas, there is significant variability in the correlation between county fundamentals and housing conditions. Full article
(This article belongs to the Special Issue Trends in Real Estate Economics and Livability)
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18 pages, 35223 KiB  
Article
Spatial Distribution and Typological Classification of Heritage Buildings in Southern China
by Han Gao, Yang Wang, Hong’ou Zhang, Jinyu Huang, Xiaoli Yue and Fan Chen
Buildings 2023, 13(8), 2025; https://doi.org/10.3390/buildings13082025 - 09 Aug 2023
Cited by 2 | Viewed by 953
Abstract
Heritage buildings are a crucial aspect of a country’s cultural heritage, serving as a means of preserving and passing down its history and traditions to future generations. The heritage buildings in southern China possess significant conservation, utilization, and research value. However, research is [...] Read more.
Heritage buildings are a crucial aspect of a country’s cultural heritage, serving as a means of preserving and passing down its history and traditions to future generations. The heritage buildings in southern China possess significant conservation, utilization, and research value. However, research is lacking on the spatial distribution characteristics and subdivision types of these buildings in the region. This study aimed to investigate the spatial agglomeration and distribution characteristics of heritage buildings in southern China, as well as the factors contributing to the formation of these spatial distribution patterns. This article focused on the protection of 981 heritage buildings in southern China since the founding of China. The study examined the buildings’ spatial agglomeration and distribution characteristics from various dynasties and subdivided types. It utilized the average nearest neighbor analysis, unbalance index, and kernel density estimation to analyze this distribution. Additionally, this study also investigated the primary factors influencing the spatial distribution and differentiation of these buildings. The results demonstrated the following: (1) In general, the spatial distribution of heritage buildings in southern China is characterized by unevenness and clustering, with a concentration in the eastern coastal and Sichuan provinces. (2) In terms of temporal dimension, the spatial distribution of heritage buildings exhibits unique characteristics in various dynastic zones. (3) In the type dimension, the number of different types of heritage buildings varies greatly. (4) Further analysis of the distribution and types of heritage buildings indicates that quantitative differences are primarily influenced by natural, human, and socio-economic factors. This research was unique as it explored the geospatial distribution characteristics and determinants of heritage buildings. It offers a valuable perspective on the spatial distribution of heritage buildings and can serve as a reference for future studies on the preservation and protection of such buildings in China. Additionally, the findings can provide guidance for the management and rational use of heritage buildings in southern China. Full article
(This article belongs to the Special Issue Trends in Real Estate Economics and Livability)
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14 pages, 7092 KiB  
Article
Spatial Quality Evaluation of Historical Blocks Based on Street View Image Data: A Case Study of the Fangcheng District
by Yan Wang and Chunliang Xiu
Buildings 2023, 13(7), 1612; https://doi.org/10.3390/buildings13071612 - 26 Jun 2023
Viewed by 1156
Abstract
Urbanization in China has reached a mature stage, and research on spatial quality has become an important topic in urban research. This paper employs a machine learning method using a large set of street view image data to explore the spatial quality for [...] Read more.
Urbanization in China has reached a mature stage, and research on spatial quality has become an important topic in urban research. This paper employs a machine learning method using a large set of street view image data to explore the spatial quality for historical districts, specifically in terms of vitality, safety, and landscape. The Fangcheng district is taken as the research object to evaluate the spatial quality of historical blocks. The results suggest that the following: (1) The spatial quality of the Fangcheng district presents a pyramidal structure. (2) High-quality streets are mainly distributed in the core areas of historical protection and commercial areas, medium-quality streets are mainly distributed in residential areas around the core areas of the historical district, and low-quality streets are mostly streets with poor accessibility. Based on the findings, we proposed several spatial quality improvement recommendations for the Fangcheng district in Shenyang. Full article
(This article belongs to the Special Issue Trends in Real Estate Economics and Livability)
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22 pages, 17025 KiB  
Article
Investigating the Synergistic Evolution Mechanism of Multi-Scale Cities: A Case Study of Three Urban Agglomerations in Eastern China
by Xunwei Lv and Xufang Mu
Buildings 2023, 13(5), 1197; https://doi.org/10.3390/buildings13051197 - 30 Apr 2023
Cited by 1 | Viewed by 1270
Abstract
Urban growth has evolved from cities to metropolitan areas and urban agglomerations, exhibiting a multi-scale pattern. Urban scaling law can reflect the nonlinear relationship between urban indicators and population size, which is very important for urban planning through analyzing the evolution of urban [...] Read more.
Urban growth has evolved from cities to metropolitan areas and urban agglomerations, exhibiting a multi-scale pattern. Urban scaling law can reflect the nonlinear relationship between urban indicators and population size, which is very important for urban planning through analyzing the evolution of urban system characteristics. However, existing studies mainly focused on scalar law within countries, neglecting the multi-scale synergistic evolution of complex urban systems. The purpose of this study is to investigate the scalar relationship between urban indicators and population size at multiple scales from the perspective of individual cities, metropolitan areas, and urban agglomerations, using data from 45 cities in three urban agglomerations in eastern China. Based on the urban scaling law, local spatial autocorrelation model is used to analyze and explore the collaborative evolution of multiple scales. Results show that from the perspective of time evolution, the three urban agglomerations exhibit greater scaling effects than metropolitan areas, with a scaling exponent (β) greater than 1 for urban indicators including economy, land, infrastructure, ecological pressure, and innovation. From the perspective of spatial differences, the spatial development gap between the metropolitan area scale and the urban agglomeration scale is relatively small compared with the city scale. In addition, the Beijing–Tianjin–Hebei urban agglomeration (BTH) mainly displays the synergistic development of the dual-core structure of Beijing and Tianjin. The Yangtze River Delta (YRD) exhibits significant disparities between its cities, resulting in a low degree of overall synergy. In contrast, the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) leads in terms of synergistic evolution. This study is crucial to help understand the development of urban systems at different scales and to support regional planning and the achievement of coordinated development. Full article
(This article belongs to the Special Issue Trends in Real Estate Economics and Livability)
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14 pages, 1456 KiB  
Article
Spatial–Temporal Differentiation of Housing Burden of Urban Floating Population and Migration in China
by Jiekai Wang, Yanhua Luo and Weixuan Song
Buildings 2023, 13(4), 1043; https://doi.org/10.3390/buildings13041043 - 16 Apr 2023
Viewed by 1198
Abstract
Housing costs, including rent, have become a significant economic burden for millions of floating population families in urban China, affecting their living standards and influencing migration decision-making. Using data from the China Migrants Dynamic Survey (CMDS) in 2012 and 2017, this study analyzes [...] Read more.
Housing costs, including rent, have become a significant economic burden for millions of floating population families in urban China, affecting their living standards and influencing migration decision-making. Using data from the China Migrants Dynamic Survey (CMDS) in 2012 and 2017, this study analyzes the spatial patterns of rent, family income, and the rent-to-income ratio among different regions, cities, and groups. Results show that rent and the rent-to-income ratio have an inverse correlation with the regional economy, with lower ratios observed in eastern coastal areas compared to the central and western regions, especially the northeast. High-level cities record higher incomes, higher rents, and higher rent-to-income ratios, and groups with higher educational levels and occupational characteristics exhibit higher affordability. Rent plays a role in the flow and changes of the floating population, and the housing burden has become a key constraint for long-term residence or migration. Developed provinces and municipalities in the eastern region and high-level cities remain major destinations for migrants, but rising house prices impede permanent settlement through commercial house purchases. The government should consider migrants’ demands for housing and increase the supply of subsidized housing, such as public rental housing, for the floating population. Full article
(This article belongs to the Special Issue Trends in Real Estate Economics and Livability)
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30 pages, 3126 KiB  
Article
Preferences of Young Polish Renters: Findings from the Mediation Analysis
by Janusz Sobieraj, Marek Bryx and Dominik Metelski
Buildings 2023, 13(4), 920; https://doi.org/10.3390/buildings13040920 - 30 Mar 2023
Cited by 2 | Viewed by 1868
Abstract
The worsening housing problems of young adults in many countries have become a worldwide problem. Researchers point to a number of factors that influence young people’s decisions to own or rent their own apartments or houses. The term generation of renters or the [...] Read more.
The worsening housing problems of young adults in many countries have become a worldwide problem. Researchers point to a number of factors that influence young people’s decisions to own or rent their own apartments or houses. The term generation of renters or the lost generation has appeared in the literature in relation to the young adult generation. This article offers insights into the housing preferences of young adults aged 18 to 45 in Poland, with a particular focus on the renter cohort. Conclusions are drawn about whether young adults who are already renting prefer to buy an apartment or house rather than maintain their status quo, and what determines their decisions in this regard. The study identifies a number of socioeconomic factors that influence the housing decisions of young renters in Poland. It addresses some of the problems and challenges of today’s housing market and, in particular, examines what leads young Polish renters to switch from renting to buying their first home or, alternatively, to live in a rented apartment for years (thus showing indifference to homeownership). Some of the reasons for the change in attitude toward this issue are highlighted. The study is quantitative in nature, relying on an online survey and a mediation analysis that is particularly well suited to explaining the relationship between many different variables. Of the eight hypotheses tested in the study (using mediation analysis), only three could be proven, namely that the amount of rent payments and other costs for economic reasons influences the willingness to buy an apartment or a house, and also that the length of the rental period has a negative influence on the willingness to buy a house. Finally, the mediation model provides evidence that the higher a young renter’s tolerance threshold for mortgage interest compared to “rent payments”, the more inclined they are to buy an apartment or house. The study suggests that the housing finance subsystem has some shortcomings as far as financing young people is concerned. Strategically, there are two complementary solutions that could be implemented: (1) a long-term home savings plan or program and (2) innovative housing loan options tailored to the financial situation of young people. Full article
(This article belongs to the Special Issue Trends in Real Estate Economics and Livability)
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21 pages, 4072 KiB  
Article
Consensus-Based Measures for Improvement of Off-Plan Sales Program of Housing Units in Real Estate Market of Riyadh City
by Ali Alqahtany, Faez S. Alshihri, Maher S. Alshammari, Hani Alqahtany, Badran M. Alzenifeer, Abed A. Almusallam, Wadee Ahmed Ghanem Al-Gehlani, Adel Saleh Bouregh, Naief A. Aldossary and Saleh H. Alyami
Buildings 2023, 13(4), 895; https://doi.org/10.3390/buildings13040895 - 28 Mar 2023
Viewed by 2252
Abstract
This study aims to review the off-plan sales program to identify the financial and marketing challenges being faced by such programs in Saudi Arabia and formulate consensus-based measures to overcome these challenges. The study implies an analytical descriptive method to achieve its objectives, [...] Read more.
This study aims to review the off-plan sales program to identify the financial and marketing challenges being faced by such programs in Saudi Arabia and formulate consensus-based measures to overcome these challenges. The study implies an analytical descriptive method to achieve its objectives, based on the opinion of experts involved in the off-plan sales program and analyzing the data using the Delphi technique. Various statistical parameters were calculated to validate the obtained results. The study found several challenges being faced by off-plan sales programs, including financing challenges such as mortgaging on the land deed, as well as marketing challenges, including low turnout of the buyers due to the long duration of project implementation. The study concludes with several suggested measures, the most important of which is to find an alternative to the condition of mortgaging the land deed, such as putting insurance on the project or providing a financial bank guarantee. The study contributes to the improvement of the real estate sector of Saudi Arabia and would benefit the construction and development sectors as well. Full article
(This article belongs to the Special Issue Trends in Real Estate Economics and Livability)
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13 pages, 3213 KiB  
Article
Forecasting Offline Retail Sales in the COVID-19 Pandemic Period: A Case Study of a Complex Shopping Mall in South Korea
by Hee-Jeong Kim, Ju-Hyung Kim and Jin-bin Im
Buildings 2023, 13(3), 627; https://doi.org/10.3390/buildings13030627 - 27 Feb 2023
Cited by 4 | Viewed by 2397
Abstract
This study examines the case of a shopping mall in Seoul, South Korea, based on its offline retail sales data during the period of the enforcement of the COVID-19 pandemic social distancing policy. South Korea implemented strict social distancing, especially in retail categories [...] Read more.
This study examines the case of a shopping mall in Seoul, South Korea, based on its offline retail sales data during the period of the enforcement of the COVID-19 pandemic social distancing policy. South Korea implemented strict social distancing, especially in retail categories where people eat out, due to the danger of spreading infectious disease. A total of 55 retail shops’ sales data were analyzed and classified into five categories: fashion, food and beverage (f&b), entertainment, cosmetics and sport. Autoregressive integrated moving average (ARIMA) and exponential smoothing (ETS) models were employed, and the autocorrelation (ACF) and partial autocorrelation (PACF) of each retail category’s sales data were analyzed. The mean absolute percentage error (MAPE) was used to determine the most suitable forecasting model for each retail category. In this way, the f&b and entertainment retail categories, in which people eat out, were found to have been significantly impacted, with their 2022 sales forecasted to be less than 80% of their 2018 and 2019 sales. The fashion retail category was also significantly impacted, slowly recovering sales in 2022. The cosmetics and sport retail categories were little impacted by the COVID-19 outbreak, with their retail sales having already recovered by 2022. Full article
(This article belongs to the Special Issue Trends in Real Estate Economics and Livability)
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