NUS-MIT Real Estate Research Workshop, Singapore, July 12, 2024
The Asia Real Estate Initiative of the MIT Center for Real Estate marked a significant milestone in engaging real estate academics and professionals in Southeast Asia in July 2024. Part of this engagement journey was the NUS-MIT Real Estate Research Workshop held at the National University of Singapore (NUS) on July 12. The Workshop included seven original projects conducted by researchers at the NUS Department of Real Estate, NUS Institute of Real Estate and Urban Studies, Singapore-MIT Alliance for Research and Technology, and MIT Center for Real Estate. It illuminated real estate research frontiers, provoking a stimulating exchange of ideas with researchers in the region.
The Workshop began with a timely topic on computer science for real estate research. Dr. Fabio Duarte and Dr. Filip Biljecki demonstrated how Artificial Intelligence can be used as an urban informatics tool to deepen researchers’ and practitioners’ understandings of urban households’ perceptions and improve real estate designs.
The second topic concerns urban growth and sustainability in US cities. Professor Yuming Fu presented a human capital accounting approach that can analyze skilled-specific demand and supply dynamics in successful cities. Professor Siqi Zheng addressed another critical matter to sustainable urban and real estate development in the era of climate change—understanding the economic cost of floods. High-tide flooding disrupted 5% of the daily activities of Americans. The economic costs of significant floods on properties were conservatively estimated at US $4 billion a year.
The Workshop then shifted into high gear—urban growth and behavior in Asia cities—centric to the mission of the Asia Real Estate Initiative. Dr. Ambra Amico presented the global air traffic network and cast light on how a beneficial network centrality can strengthen the value proposition of prominent cities in Southeast Asia and in other parts of the world as business hubs for multinational enterprises. Dr. Man Zhang’s research presentation concerned mortgage loans to women in India. She found that home loans made to female borrowers empower women, and female loans exhibit a lower default rate as females are more committed to maintaining repayments during difficult times. Finally, Professor Wen-Chi Liao presented research concerning an important topic to world economies—the influence of the US-China trade war. Different from the existing literature on this topic, his research emphasizes spatial economic dynamics and environmental sustainability within a benefited country—Vietnam. The research highlights a China-Vietnam border effect that casts light on how enterprises strategize when facing geo-political tension in international trade.
The NUS-MIT Real Estate Research Workshop, part of the MIT Asia Real Estate Initiative, concluded with “resounding success” according to the participants. After the workshop, participants gathered for a luncheon, where they enjoyed the unique culinary diversity of Singapore, making the celebration, “truly unforgettable.”
For more information, view the NUS-MIT workshop program and visit the MIT Asia Real Estate Initiative homepage.
Organizing Committee
Prof. Wen-Chi Liao, National University of Singapore & Massachusetts Institute of Technology
Dr. Takeo Kuwabara, Massachusetts Institute of Technology
Dr. Ambra Amico, Singapore-MIT Alliance for Research and Technology.
