Shopping choices with public transport options: an agenda for the 21st century
In: Transport and society
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In: Transport and society
In: Transport and society
In: Journal of property research, Band 23, Heft 3, S. 189-214
ISSN: 1466-4453
In: Journal of Property Investment & Finance, Band 28, Heft 2, S. 77-108
PurposeFrom the perspective of the macro‐economy and real estate sector interaction, this paper aims to examine the maturing prime retail real estate sector versus the developing suburban retail real estate sector.Design/methodology/approachThis paper adopts a highly specific dynamic computable general equilibrium model under system dynamics programming to structure the resulting system complexity within the context of Singapore.FindingsEx post and ex ante model estimations find that the suburban retail real estate sector is on the whole more susceptible to gross domestic product (GDP) growth policy that affects both GDP expansion and retail rents in actual and expectation terms as well as returns.Research limitations/implicationsThe DCGE model ex ante estimations for the planned scenarios, under low or high GDP growth for the prime and suburban retail real estate sectors, enhances understanding of structural factors and dynamic interaction in the maturation phase of the prime retail real estate sector in Singapore.Practical implicationsIn comparison, Singapore's suburban retail real estate sector is found to be in a developing phase.Originality/valueThere is limited local research on the underlying relationship between the economy and the retail real estate sector, although Singapore's retail sector and retail real estate sector form an integral part of sustainable economic expansion.
In: Journal of property research, Band 31, Heft 3, S. 211-243
ISSN: 1466-4453