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Essay On The Impact Of Globalization On Real Estate

1197 Words5 Pages

CHAPTER 2
LITERATURES REVIEW

This chapter, the researcher has been studying the relevant concepts, theories and other related information based on “Global Risks that Impact Real Estate Industry. Case Study: Thailand residential real estate” which is consisted of globalization of real estate market, global risk, risk management, PESTLE analysis, globalization of real estate firm characteristics, AS/NZS ISO 31000:2009, competitive advantage of future real estate business, customer satisfaction and literature review.
2.1 Globalization of Real Estate Market
2.2 Global Risks
2.3 Risk management
2.4 EIA
2.5 PESTLE Analysis
2.6 The Concept of ISO 31000:2009
2.7 Competitive Advantage of future real estate business
2.8 Other Related Research

2.1 Globalization of Real Estate Market To be aware of the mechanism to which global risks may affect real estate business, it is essential to have some background knowledge of globalization and risks factors which may affect real estate development and growth.
As …show more content…

Research on the effect of globalization on real estate in each country or group of countries have mostly given an interlinked scenarios of the impact of US economy on a country’s real estate.
2.2 Global Risk
It has been observed that real estate businesses are highly interconnected to global risks.
A global risk is defined as an event that drastically causes downside impact for a number of countries and businesses beyond a period time of up to ten years (World Economic Forum, 2014). According to Nwogugu (2012), the recent global economic crisis of 2007-2011 occurred because of insufficient global risk regulations. He pointed out that the crisis was caused by inadequate supervisory governance programs and regulations to eliminate risks in various developing nations and high income countries. Baum (2009) said the impact of US subprime mortgage in 2007 has caused a chain of global risk

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