Search

Urban shrinkage poses significant challenges to Real Estate markets in Shrinking Cities and has multiple negative impacts on society, environment and economy. Although major cities are growing rapidly, a significant volume of building stock and population will endure in shrinking cities in the future. To enhance the resilience of local real estate markets and communities, forces that offer novel possibilities for shrinking cities should be actively studied. This study deepens understanding of the forces affecting the real estate market environments of Shrinking Cities by examining the public discourse and the perceptions of local market participants, both of which steer future market development. To identify and analyse these forces, an environmental scanning method was employed, using as data sources 872 Finnish newspaper articles and 45 interviews with market actors in eight Shrinking Cities in Finland. The results categorise the identified forces under three themes that describe the drivers of future market development. The findings indicate that, although the Real Estate markets of Shrinking Cities face challenges, forces such as telecommuting, multi-local living and emerging industries may offer new opportunities and slow urban shrinkage. The findings may be utilised to steer the development of Shrinking Cities in a more resilient direction.

Funding Information: Authors acknowledge the Academy of Finland funded project RESCUE - Real Estate and Sustainable Crisis management in Urban Environments (Grant number 339711 ). Publisher Copyright: © 2022 In the last decade, our built environment has been exposed to a significant and wide range of crises, from primary (e.g., pandemic, climate change-induced hazards) to secondary crises, such as their associated physical and mental health impacts. However, previous literature has mainly focused on the impacts of a single type of crisis in the built environment and solutions for individual impacts. Hence, in the face of multiple crises and their impacts that we are facing now, understanding the possible solutions and their characteristics is crucial to achieve a more resilient built environment. This paper aims to gain a better understanding about how different crises impact the built environment and which solutions have been proven effective, particularly as a response to multiple crises. First, a systematic literature review is presented, identifying main crises impacts on the built environment and their solutions. Secondly, through a qualitative data analysis, the main interconnections between the identified crises impacts and solutions were established. Findings highlight that the main solutions that provide resilience to multiple crises in the built environment, are (1) green and healthy infrastructures; (2) adaptable infrastructures; and (3) equitable and inclusive infrastructures. Finally, key characteristics for the design of resilient solutions for the built environment are discussed and an evaluation framework is proposed.

Kriiseillä on moninaisia vaikutuksia yhteiskuntaan, kuten koronaviruspandemia on viimeksi osoittanut. Rakennetun ympäristön mukautumiskyky voi auttaa ehkäisemään kriisistä seuraavien toissijaisten kriisien puhkeamista, mikä antaa arkkitehdeille tärkeän roolin kriisien ratkaisijoina. Crises have manifold effects on the society, as the Covid-19 pandemic has recently shown. However, a more resilient built environment can help prevent secondary crises from unfolding, which makes architects part of the solution. publishedVersion

The aim of this paper was to develop a social sustainability tool to clarify what social sustainability means in land use planning processes. The tool was developed through a robust researc...

This study aims to identify and categorise the sustainability concerns raised in retail planning policy discourse, using empirical data from Finland. In order to identify the concerns, we conducted a critical discourse analysis of the policy discourse presented in media from 1990 to 2015. The analysis was conducted chronologically in order to understand the evolution of the sustainability concerns and the changes in the policy debate. To categorise the concerns identified from the discourse, we developed a holistic sustainability framework based on previous literature. Our findings show that during 1990′s the concerns were mostly socio-economic, however, due to enforcement of sustainable development policies, the share of environmental concerns raised significantly in 2000s. The findings of our study reveal the problematics of the retail planning policy making and call for a more holistic understanding of the multidimensionality of the sustainability impacts of retail planning.

Publisher Copyright: © 2021 The Author(s) Copyright: Copyright 2021 Elsevier B.V., All rights reserved. New types of human capacities will be needed to achieve sustainable futures within our planet's limited boundaries. The capability of futures thinking, i.e., futures literacy is among the required proficiencies. This research explores how engaging in futures studies methods develops the futures literacy of upcoming city developers. Four student test groups, with altogether 373 participants, took part in futures studies lectures and workshop activities in two countries. This study considers the ability to participate as the first step towards empowerment. Following participation, the three levels of futures literacy (Awareness - Discovery – Choice), should be reached. Finally, futures literacy brings with it the possibility to participate, closing this loop of empowerment. The study finds that the employed futures activities delivered these levels and loop of empowerment within the test groups students. This paper provides a practical framework of concepts with which the futures methods can be used as a systematic, participatory approach to explore futures and drivers of change, with a link to action. The findings are equally useful for higher education teachers, attempting to engage students in action and practising city developers aiming for a higher level of empowerment in their communities.

The cadastral systems used in each country and region have developed through the centuries to their current form. We cannot assume that the current situation will remain the same from this point to the future. There are signs in recent studies and development projects throughout the world that those cadastral systems which are traditionally seen as well-functioning also need to be renewed as society changes at a rapid pace. This study is set up to analyze the future needs of a cadastral system and registers related to it in Finland. The objective of the study is to reveal future themes affecting the operational environment of the cadastral system by using research methods provided by futurology. The method used in this study is called environmental scanning and it consists of three phases: collecting events, recognizing phenomena and combining the phenomena as themes. The study analyses 352 literature sources and reveals 14 different future themes in the operational environment of the cadastral system, which are economic pressure, demographic changes, development of technology, transparent society, safety, environmental values, globalization, digitalization, know-how, quality, political change, soft values, public-private partnership and crowd sourcing. The future themes, their possible relations between each other and their significance for the cadastral system are analyzed by using the concepts of megatrends, trends, wild cards, driving forces and weak signals and reflecting the results to research made in the field of land management internationally. The results can be used when renewing a cadastral system, in order to consider possible future themes that may affect the system. Detecting and recognizing the future themes provides an opportunity to react and change the course of action in order to adapt to the future. The results are not only usable in the Finnish context, but can also be applied in other countries⿿ development of their cadastre and as part of environmental scanning.

The commercial real estate market is closely linked to the surrounding society, as commercial buildings have several economic, environmental, political, social and cultural influences. Correspondingly, the surrounding society, its actors and the different forces of change appearing in the market environment also have their own influence on the real estate market environment and its future development. However, this connection may be left without the attention it is entitled to and there is a danger that far-reaching decisions concerning commercial real estates will be made without sufficient analysis over possible future development. This paper investigates how the forces of change appearing in the present real estate market environment may affect future commercial real estates and their market environment. The forces of change are identified with an information collection method called environmental scanning known from future studies. After that the possible future influences of the identified forces of change are organized and analyzed with another future studies method called futures wheels. Finally, a holistic synthesis over the mutual future themes of the commercial real estate market is presented: (1) real estate themes: comfort, image, distinctive spaces and elements, technicality, safety and geographical location and transportation connectivity (2) market themes: interaction, demand for services, segregation and need for special knowledge and expertise (3) ideological themes: quality and redefinition of attractiveness, integration of space types, diversified demand and versatility of commercial real estate and owner-occupancy vs. tenancy. The database utilized in the environmental scanning and future wheel processes consists of 400 literary sources and 170 person sources presenting the views of different real estate market actors. Acknowledging the identified future themes is essential when preparing for future development. By being aware, it is possible to carefully study different development paths, their probability, essential factors and above all, the actors' own possibilities to affect future development.

The purpose of our study was to investigate the content of sustainability reporting issued by real estate sector. Content analysis was employed to identify the strengths and weaknesses of sustainability information provided by sample companies. The content analysis structure considered both quantity and quality of information simultaneously. Our results show an inconsistency in the form, extent and quality of sustainability reports. In addition, our findings recognise a lack of clear approach to embrace materiality, external assurance, and further engagement of stakeholders in the sample reports. It seems that most of the sample companies were engaged in issuing sustainability reports to fulfil the legislative requirement and avoiding financial or legal risks. Our study provides information on the current status of sustainability reporting to real estate professionals. In addition it contributes in decreasing the financial and legal risks, and increasing the corporate reputational capital, by revealing the common weaknesses prevalent in the sustainability reports.

Over the past few years, environmental sustainability as a whole has gained significantly more attention globally, and the connection between sustainability and the built environment has been made clear. The built environment is now more widely known to have major implications on both climate change, and resource use. This study draws on a previous study, which identified environmental pressure as one of the key future forces of change in the real estate market. The findings of the earlier study are re-visited to establish which of the expected outcomes have realized, which have proved to be irrelevant, and which might still occur in the future.Future studies employ a number of different tools and methods to forecast the future. This study first utilizes a method called environmental scanning to reveal the forces through which the environmental pressure shapes the current real estate market. Following the environmental scanning, the possible impacts of the forces are identified and their causal relationships are structured with the help of a method called the futures wheel. The futures wheel is a qualitative method based on expert opinions, and resembles structural brainstorming. The results of the future wheels are complemented utilising expert interviews. The results are analysed to verify the potential future impacts of those forces, and to finally arrive to a consensus about the most probable future impacts of the forces as currently foreseen.The study finds that while the future views have developed from the earlier study, few key issues remain. More specifically, the presumed primary sustainability influences are still related to the rise in demand of green buildings, and the existing density paradigm in urban planning. Another important finding is that, not all identified influences derive from environmental pressure, but stem from other major forces of change, such as urbanisation or digitalisation.The study offers insight into potential future pathways in the field of sustainable real estate. Most importantly, the study design enables attaining a holistic view of the possible impacts to the real estate market, as the combined methods reveal the complex relationships and even indirect impacts that could otherwise go unnoticed. (Less)

The transitioning of the disclosure of non-financial information from voluntary to mandatory reporting in the European Union also has emerging trends in the sustainability reporting field. This can be evidenced in various jurisdictions that more governmental bodies are exerting pressure for more corporate social responsibility to promote sustainable development. Similarly, the evidence that more Finnish companies are pursuing actions that facilitate the integration of sustainability issues to their business strategies, shows that there is a steadier progress of sustainability reporting and the gap in reporting between the leading and the lagging industry sector is also narrowing. However, with limited research on the state and future of sustainability reporting in the Finnish real estate sector, using semi-structured expert interviews with the futures wheel study method to capture and illustrate the findings, this study investigates the perspective of the real estate professionals on the impacts of three sustainability reporting phenomena; mandatory reporting, external assurance of sustainability information and the integrated reporting framework on corporate real estate investment and management strategies in the Finnish real estate markets.The study shows that the introduction of mandatory reporting would likely increase transparency and comparability that allows best business practices within the sector which require optimal resource, data and compliance risk management. In addition, the external assurance of sustainability information would increase stakeholder engagement and the reliability of data, as the integrated reporting framework has potential in communicating company strategies with a holistic view that would increase company brand value. However, the rise in sustainability data and information requires that it is readily available to enhance the efficiency of the real estate markets and its use by the providers to spark innovations.

The Finnish commercial property market has internationalized rapidly, with nearly 80 foreign property investors participating in the market today. This paper explores through interviews of domestic...

Helsinki Metropolitan Area is a growing region with rising demand for housing. The low density of housing, which is very often visible in Finland and in other Nordic countries, bears great potential for infill development to conquer or at least ease the growing need for housing. Densification is often argued to be one answer to the environmental pressures the built environment is coping with. The main argument is that, densification of residential areas will make better use of existing infrastructure and decrease travelling. In addition to the positive environmental impacts, the infill developments are argued to have societal benefits such as diversification of population and land use, and increased vitality of the area. Infill development can also bring economic benefits to various parties. At the same time that the city is seeking savings in infrastructure construction and maintenance costs, housing companies may also receive financial means from the construction of a new building on their property. This income can potentially cover costs needed for example for energy and pipe renovations, and lift construction.In Finland where the level of owner-occupancy in housing is high, home owners can be seen as key players when discussing new infill developments. While the public sector sets the frames, eventually much is in hands of the real estate owner and inhabitant. Even though the impact of infill developments has been studied thoroughly, little is still known about the willingness or unwillingness of inhabitants to support infill development in their neighborhood. The topic deserves more attention, as infill development projects often face opposition from the inhabitants, despite the many known benefits.The aim of this study is to find connections between characteristics of areas and their inhabitants' attitude towards infill development. The results can give a better understanding of inhabitants' appreciations. This knowledge could be applied in urban planning processes to support infill developments in the future. The inhabitants' attitudes are examined using a questionnaire survey. The survey was carried out in the Helsinki Metropolitan Area, and the extensive questionnaire received opinions from 1088 respondents. The inhabitants' attitudes towards infill development are compared to different areal characteristics to reveal their interconnections and significance.

The built environment as a part of society is facing fast and constant changes occurring in the surrounding environment. This is a challenging situation for real estates because their character does not inherently support fast changes and constant development. Nevertheless there are many reasons why it is essential that also commercial real estates are able to answer to development goals set to them by different market actors. This can be achieved by analyzing forces of change affecting the market at this moment. Identifying the forces is important because they form the future real estate market and related land use. When market actors are aware of the forces appearing in their action environment, they are able to notice any new phenomena emerging and quickly adapt their actions and even steer the development to the desired direction. This competitive advantage can benefit both public and private sectors. This study presents the different forces of change affecting the commercial real estate market in the Helsinki Metropolitan Area (HMA) in Finland. The forces of change are studied with a future research method called environmental scanning (ES). The identified forces form a complicated network with many interconnections. Different actors working with real estate and land use issues can benefit from this knowledge in far reaching planning over these issues. Actors are able to make better decisions and prepare themselves for the future, if familiar with the forces of change shaping future real estates and their land use. Because of the constant changes happening in the action environment, the need to foresee and evaluate future requirements and demand set to real estates will only increase in the future.