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In our study, we referred to a large and growing body of literature on voter turnout and voting habits. A careful examination of the voting issue in the context of housing prompted us to assume that a simple division into two groups of voting habits, namely voting and non-voting, may not be sufficient to explore complex relations during the voting process in condominiums. Thus the study addresses the question of whether we can identify more than two homogenous clusters of condominium co-owners, taking into consideration their voting habits.

Ethiopia today faces a contemporary urban problem of housing as a result of rapid population growth. The government designed the condominium housing program to afford houses for the residents, which requires the provision of infrastructure and faculties in the new developed areas. The purpose of this study is to demonstrate condominium housing institutional problems, actors, and roles in reducing urban problems. The researcher used mixed research approaches. The data was collected through key informant interviews, observation, satellite and aerial photo-image, and document reviews. As the data shows, local governments, municipalities, planning offices, small and micro enterprises, banks, contractors, and service providers participated in the condominium construction. However, there were poor administrations follow-up and resulted on the quality of the houses. The condominium can manage land; enhance housing supply, minimize service provision costs and expenses for compensation, reduce the number of expropriated farmers, minimize horizontal city expansion; and enhance relative housing affordability compared with plot-based houses.

This study investigated the determinants of homeownership among the residents of the condominium housing sites of Ambo town, West Shewa Zone, Oromia Regional State, Ethiopia. It employed a descriptive research design, mainly using cross-sectional and correlational studies. A total sample of 230 respondents were selected through a random sampling method. The logistic regression model output showed that homeownership was determined by respondents’ gender, age, monthly income, saving practice, loan and credit services, marital status, and household size, while education level, occupation type, and land produced insignificant results. The chi-squared test and independent samples t test results also revealed significant associations and differences among and between different variables. The absence of land, lack of capital, bureaucratic system of land provision, limited loan and credit services, and high interest rates were also mentioned as determinant factors of homeownership. Moreover, mean values were computed to determine the adequacy and accessibility of basic amenities between the two sites. Therefore, the study recommends that the government should reformulate a profound housing policy that would improve the efficiency of the housing provision system and reduce the cost of homeownership.

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This article investigates housing financialization processes in low-income countries (LICs). Considering housing as both capital and commodity, the article excavates the roots of housing financialization in LICs since the 1960s, and shows how financialization has been used, since the 1990s, to circumvent long-standing obstacles to the marketization and commodification of LICs' housing markets. Focusing on the recent development of the condominium market in Phnom Penh, the capital city of Cambodia, the article then investigates the role of various stakeholders (e.g., development agencies, public institutions, foreign and international investors, transnational developers, brokers) in the contemporary financialization of local housing markets. Detailing their strategies, discourses, and actions, I argue that in economic contexts where the financial sector remains underdeveloped, local and international developers and brokers act as agents of financialization by creating specific channels of real estate capital circulation and landing. I argue that the case of Phnom Penh reveals how foreign and transnational stakeholders, mainly originating from Asia, have created a specific regime of capital accumulation through housing financialization, which I name the foreignization of housing markets. This regime emphasizes the significant capacity of financialization to penetrate markets that have long remained out of its reach by establishing capital extraversion mechanisms. [ABSTRACT FROM AUTHOR]

Low-income homeowners face financial and social constraints that are serious challenges to providing adequate maintenance. The fact of owning a property should lead to material progress, security and income opportunities to cope with poverty, however these benefits depend on the capacity of homeowners to keep the property in good condition, and also on the opportunities and support generated by the context and the institutions involved. If these conditions are not guaranteed, low income households are at risk of experiencing unsuccessful ownership processes that may perpetuate poverty conditions. In the case of multi-owned buildings, also known as condominiums, the tension between individual and collective needs also affects maintenance, and entails additional challenges in terms of organisation, social relations and the use of common property areas. In Chile, subsidies and credit facilities, combined with the massive construction of low-cost housing, enabled low income groups to access homeownership, and social condominiums are a significant part of the affordable owner-occupied housing stock, however after decades of occupancy, this housing stock shows signs of deterioration and devaluation due to neglected maintenance. This situation is the result of a multi-causal problem involving the construction and architectural deficiencies of the dwellings provided, the financial and social constraints of the owners, problems of coexistence and cultural differences between residents of different backgrounds, and deteriorated internal organisations. The challenge of condominium maintenance in Chile is twofold. On the one hand, it includes the financial and social restrictions faced by homeowners that decrease their collective capacity to take care of building maintenance. On the other hand, it includes institutional limitations with regard to housing and condominium management in terms of regulations, institutions, and actors. Given the weak governmental support for maintenance practices and post-occupation process, third sector organisations are positioning themselves as alternatives that provide technical solutions and contribute to improving opportunities among deprived communities. This thesis explores the role of Chilean third sector organisations as part of the solution to support homeowners in condominium improvement and management. The following research question is asked: what are effective and feasible strategies for third sector organisations to support Chilean low income homeowners in the management of social condominiums?. In order to answer the main question, key questions are organised into three main parts: conceptualisation, analysis and proposal. The general research design is based on case study analysis in order to expand the type and range of solutions, given the limited experience of the Chilean third sector in condominium management activities. The first part, conceptualisation, presents the societal problem of low income homeownership through the lenses of condominium management and the specific situation of social condominiums in Santiago, Chile. The main findings are the identification of condominium management dimensions and interrelated challenges according to technical, organisational and sociocultural dimensions. Sociocultural problems related to knowledge, the culture of maintenance, trust and individualism were identified as important triggers for organisational and technical problems. The section ends with the development of an analytical framework to describe and evaluate interventions by third sector organisations in condominiums. The core of the framework is the intermediation that comprises the activities and the process developed by the organisation to improve management dimensions, and it is described through three overlapping roles: implementers, catalysts and partners. The framework also includes the concept of institutionalisation, which describes the relationship between the organisation and the institutional framework. The second part, analysis, comprises the case study analysis of third sector organisations in housing management through one local case (Proyecto Propio, Chile) and two international cases (VVE-010, The Netherlands and SDV, Spain). The Chilean case study focuses on the improvement of deteriorated social condominiums in Santiago, and aims to identify the possibilities and limitations of a local practice. The case of VVE-010 explores the technical and organisational dimensions of condominium management and the role of the municipality in the maintenance of owner-occupied housing stock. The case of SDV explores the sociocultural and organisational dimensions of housing management and the role of civil society organisations in the management of their own neighbourhoods. Given that the practices respond to a particular context and specific community needs, this research follows a systematic process of lesson-drawing to ensure the adequate implementation of the learnings according to the characteristics of the Chilean context. The third part, proposal, provides a synthesis by combining the lessons of the analysis with a set strategies (and their respective measures) to tackle the management challenges identified in the first part. Two type of strategies were defined by their goals: those aiming at intermediation (i.e. to improve management conditions) and those aiming at institutionalisation (i.e. improving the conditions under which the organisation intervenes). The goals are the following: -To improve built environment conditions, levelling the physical conditions of condominiums -To activate passive communities and promote leadership -To provide training in condominium management -To provide services for long-term administration and maintenance -To promote better coexistence and reduce conflict -To enhance organisational resources to intervene -To improve the institutional capacity in relation to condominium management The selection of, and priorities for, the application of the strategies were defined by two main variables related to the context, and to the organisation that carries them out, represented in two matrices that define the typologies of the initial situations and management approaches. The typology of the initial situation describes the problems in condominiums according to the management conditions, and municipal capacity in relation to condominium management. The typology of the management approach is defined by the combination of roles and the scope of the intervention, representing overlapping and complementary ways to intermediate in social condominiums. The strategies and the typologies were discussed with third sector organisations and municipalities in a validation process which evaluated the adequacy and relevance of the typologies, and the feasibility and effectiveness of the strategies. Whilst the initial situations are relevant to identify potential barriers and enablers for the intermediation (in relation to municipal capacity) and to prioritise the strategies (in relation to management conditions), the management approaches are relevant to expanding the potential of third sector participation in Chile by promoting specialisation according to the challenges identified. Feasible and effective strategies with which third sector organisations can support low income homeowners in the management of social condominiums are multi-dimensional, so as to tackle the interrelated challenges. They are developed from the capacity of the third sector organisation as intermediary, meaning that they respond to catalyst and implementer roles to address management challenges at the condominium level by contributing to increase the community’s capacities and level the built environment conditions. Given the social complexities of deprived neighbourhoods, integral interventions, but also trained organisations, are required. The partner role is therefore included to foster the specialisation of third sector organisations and collaboration between local public and private organisations. Overall, the dissertation addresses the maintenance problem from the external action of third sector intermediaries in order to catalyse better management practices. The strategies altogether seek to achieve autonomous condominiums in which homeowners have the tools and the capacities to maintain an internal organisation, and have access to the professional services that allow them to provide adequate maintenance in the long-term, and manage the existing but limited resources efficiently. The dissertation contributes to filling knowledge gaps regarding the concept of housing management in the Latin American context. It also proposes a problem-solving perspective by introducing the role of third sector intermediaries as one of the solutions, exploring different approaches and respective strategies to intermediate in the field of condominium management. The main limitations of the study are related to the specific applicability of the strategies to the Chilean context, but further developments are related to action research exploration, and an evaluation of the capacity of civil society organisations such as neighbourhood associations in the management of their own neighbourhoods.

Both the general public and policy makers see home ownership as a major life goal. Owning a home is a form of capital that creates a social safety net (Elsinga, 2005; Moser, 2009). Home ownership can also help boost self-esteem and contribute to housing satisfaction (Elsinga & Hoekstra, 2005; Marcuse, 1972). In South America, owning your own home is a way to ensure basic economic security and is a dream shared by everyone. For this reason, large-scale investments are needed in owner-occupied homes for low-income buyers. A different light is shed on this dream however when it becomes clear that the quality of subsidized property for low-income groups is subpar due to poor maintenance and buildings quickly deteriorate. This occurs in Chile, Mexico, Brazil, Colombia and Ecuador (Paquette-Vasalli & Sanchez, 2009; Rodriguez & Sugranyes, 2005; Rojas, 2010). Most studies into housing quality and poor maintenance have been conducted among single-family homes owned by individuals. In South America, especially in cities, low-income homes are usually apartments. This means ownership is shared with other building residents. Most maintenance-related issues occur in joint ownership properties and there is little literature available on this topic. The aim of this study is to gain more insight into how homeowner’s associations work in low-income owner-occupied apartments. When parts of the residential buildings such as the ground on which they are built and the infrastructure are joint property, then a homeowner´s association is necessary to keep maintenance of the common property parts. The lack of maintenance of these communal areas is a problem of increasing proportions, which has prompted this research. Which factors play a decisive role in how homeowner’s associations function and how building maintenance is organized, how important is the horizontal property law and how does this affect low-income housing policy in Colombia and Ecuador? This PhD dissertation consists of three components: Part 1 presents the research question, the theoretical framework and the research methods. Part 2 discusses the formal institutions (the rules of the game) involved: housing policy and the property law. Part 3 discusses the informal rules which include the cooperation between professionals and the interaction with residents (the play of the game). The summary includes conclusions and implications for follow-up research and policy. Theory and research methods Comparative housing research can serve multiple purposes; for example to evaluate policy and perhaps implement policy that has been successful in other countries. This dissertation is based on a comparative study of two countries and uses the “middle range approach” as discussed in Haffner et al. (2010). With this approach, the assumption is that institutional differences between countries are of crucial importance, but that a comparison is worthwhile and may prove beneficial. This dissertation has a comparative structure that takes institutional differences that are important to home ownership of low-income families into account (Elsinga, 1998; Oxley, 2001; Ruonavaara, 1993; Stephens, 2011). The central hypothesis is that the design of the horizontal property law is of great importance to the effectiveness of homeowner’s associations and maintenance levels of buildings and homes. A comparison of Colombia and Ecuador, neighboring countries with similar housing systems and cultures but different horizontal property law, is a good way to test this hypothesis. The horizontal property law or law for condominium form of ownership is a formal institution. Formal institutions, together with the informal institutions such as values, determine the rules of the game for actors. (North, 1994:360). This institutional approach is beneficial to studying the functioning of homeowner’s associations. In the further elaboration of the research framework, Ostrom´s (1990, 2005) institutional analysis and development framework (IAD) was used as a starting point. The Institutional Analysis & Development (IAD) framework makes it possible to analyze the actions in a complex situation and to map the multiple positions of actors. The IAD framework distinguishes three groups of important factors: characteristics of the community, the rules used and the physical characteristics of the common property (Ostrom, 1990, 2005). An important assumption is that actors are not necessarily selfish and rational. Another assumption is that people are not by definition helpless and unable to work together. The Ostrom approach provides researchers with a framework for mapping out the potential contributions of a community. This framework provides good leads for the analysis of the central problem in this dissertation: poor maintenance in collective homeownership. The first part of the analysis focuses on the formal institutions: the housing policy and horizontal property law (Rules of the game). Policy documents and available statistics were studied in the analysis of housing policy. Subsequently, the property law in Colombia and Ecuador were subjected to a thorough analysis of the law. The focus was on the regulations in the law that support self-government or instead stipulate the role of a professional to be in charge of management and maintenance A network analysis was then applied to study cooperation among the professionals involved in the provision of low-income housing in condominium. This analysis involved professionals from the municipality, developers, property managers, banks and social workers in Quito and then Bogota. These analyses were conducted using focus groups. The main focus during the discussion was the recognition of the problem of poor maintenance, an analysis of the possible causes and an exploration of possible solutions. The network approach appears to be useful because it shows that there is complexity and a large degree of interdependence among actors. The analysis of the role of the residents was identified with a survey among 414 residents of 8 different housing complexes with low-income condominium housing. It involved 4 blocks from different construction years in Quito and 4 blocks from different construction years in Bogota. The questionnaire distributed among residents was inspired by Ostrom’s IAD framework. The “mixed method” approach was necessary to map the interaction between formal and informal institutions. This approach is the result of the choice for a “middle range” approach that distills the similarities and differences between two cities/countries with different institutions. The aim is to learn lessons that can lead to improvements in the maintenance in homeowner’s associations for low-income households. “Rules of the game” In both Bogota and Quito, the majority of households live in owner-occupied dwellings, mostly apartments in condominium. The government housing policy in both countries mainly consists of subsidizing owner-occupied homes for low-income households. The description of the housing policy shows that building homes is a complex affair that requires a great deal of cooperation between parties including local governments, developers, the land registry, funding bodies and the national government as the subsidy provider. Finally it appears that the registration of the policy outcome gives incomplete information for policy evaluation. In practice, homes that are built are registered as single units when they are actually part of housing complex in condominium. The horizontal property law plays a key role in how homeowner’s associations function. The law defines which actors are responsible for the management and maintenance of the shared property. Research has revealed that there are key differences between the laws in the two countries. In Colombia the law stipulates that the first assembly meeting of the homeowner’s association must be called by the builder. In Ostrom’s words: Colombia has embedded a collective choice-rule in a constitutional one. This concerns a clear and unambiguous anchoring of the body most important to how a homeowner’s association functions. In Ecuador, the law does not provide a definitive answer on when a homeowner’s association should be established. In practice, it turns out that it’s usually up to the project developer to make this decision. Another important difference between the two laws is the responsibility for the management of the homeowner’s association. In Colombia, the law stipulates that this must be organized by a professional and paid manager of the homeowner’s association, whereas the law in Ecuador is more flexible and it allows for the position to be filled by a volunteer or paid position if the association can afford it. “Play of the game” In both Bogota and in Quito, professionals have indicated that in the realization of owner-occupied apartments for low-income families, they depend on the local government and funding bodies. In both cities a link was found between maintenance issues related to homeowner’s associations and the contents of the horizontal property law specifically lack of clarity about the rights and obligations of the joint owners. The law is not clear to everyone and not everyone is aware of the law. The analysis shows that all participants acknowledge the problem, can identify various causes and agree that it is unclear who the responsible party or problem owner is. For Bogota, research showed that overdue maintenance problems are usually due to poor management decisions by the professional responsible for the homeowner’s association. Research in Quito yields other explanations: a lack of community spirit, lack of respect for rules and standards and different ideas about the use of common spaces. From this it can be concluded that there is a connection between how homeowner’s associations in Bogota and Quito function and the property laws in Colombia and Ecuador. In the words of Ostrom: “the activities and policies of external political regimes can affect the level and type of self-organization to achieve collective benefits” (Ostrom, 1990: 190). The professionals recognize and emphasize that their role and interpretation affects how homeowner’s associations function in the long term. The perception and opinion of the residents about maintenance problems was mapped out on the basis of a survey that was carried out in 2014. The survey included questions about the composition and characteristics of the households, their awareness of their position in the homeowner’s association, their behavior and their relationship with the condominium regulations. The results are in line with Ostrom’s framework. It appears that: (1) trust in leaders of the community, (2) agreement about who is responsible for maintenance, (3) participation in assembly meetings, and (4) adequate physical conditions of the building, are conditions for adequate maintenance outcomes. Owners collectively need information, as well as knowledge about rules, to be able to manage the condominium. Conclusions The results show that legal obligations can have a counterproductive effect on the involvement and self-organization of homeowners. The property law in Colombia stipulates that a professional administrator must be appointed to manage the homeowner’s association. The result is that residents feel less personal responsibility and attend fewer meetings of the homeowner’s association. In Ecuador, the rules for maintenance are much more flexible and the chairman of the homeowner’s association can assume the role of manager. As a result, the residents appear to be more involved in the homeowner’s association’s decision-making processes, but are generally less satisfied with the outcome. The horizontal property law plays a key role in achieving better maintenance results in Bogota. The project developer is responsible for ensuring the legal requirement to appoint a professional homeowner’s association administrator. The law stipulates that a maintenance plan must be drawn up before building materials in the residences start showing signs of deterioration. A maintenance plan and a detailed payment plan for contributions to the homeowner’s association must be ready by the time the homes are completed and residents move in. This is in line with Ostrom’s IAD framework, when she says that when rules of the game are known, specifically the benefits and costs, the outcomes are more satisfactory (Ostrom, 1990). Most studies into maintenance by homeowner’s associations research the relationship between maintenance and the characteristics of households and homes (Orban, 2006; Alterman, 2010; Hastings et al., 2006). This study also included these variables in addition to the formal rules and the ability to self-organize in homeowner’s associations. By using the IAD framework, it became possible to investigate the interaction between formal and informal institutions (play of the game). A comparison of the “play of the game” in Bogota and Quito allowed for conclusions to be drawn about the influence of the differences in both countries’ property laws. Uncovering the relationship between the horizontal property law and its effect on the functioning of a homeowner’s association through a combination of quantitative and qualitative research is an added value of this research. The significance of these outcomes goes beyond Bogota and Quito and contributes to insight into mechanisms in the functioning of home owner’s associations in general (Bengtsson & Hertting, 2014). Implications for future research This research provides input for the research questions of the future. A first follow-up line of inquiry is the impact of the functioning of homeowner’s associations and the maintenance results on the increasing value of homes. Further studies are required into the functioning of the owner-occupied apartment market and specifically the role of collectivity in housing preferences, how maintenance fees are set and how the organization of a homeowner’s association influences the value of apartments. Dilapidated homes have a major impact on the quality of life in neighborhoods. Urbanization, densification and promoting homeownership go hand in hand. The share of owner-occupied apartments is raising rapidly and with it the risk of poorly functioning homeowner’s associations. The management of collective homeownership is part of the research agenda of sustainable, resilient and smart cities. This dissertation presents a framework for international comparative research into the functioning of homeowner’s associations. Insight into the interaction between formal and informal institutions is crucial in a world in which citizens have to take personal responsibility, governments have ambitious goals and quality of housing and life is at risk. This dissertation shows that the number of homeowners’ associations is greater than official records indicate. There is room for improvement when it comes to the registration of property because this is essential to good housing policy implementation and evaluation. Policy implications As cities grow, densification and the continued construction of apartment buildings require policy for owner-occupied apartments that is featured prominently in housing policy. Poor maintenance of common property parts is a collective issue that has major implications for the quality of life in urban areas and the asset of individual homeowners. National policy for the construction of subsidized owner-occupied homes must be accompanied by local policies for the proper management of homeowner’s associations. The quality and sustainability of low-income housing should be part of housing policy monitoring and evaluation. Shared spaces and common land with facilities deserve special attention. The joint ownership of land and facilities can also be a source of income and joy. Climate change has implications for the quality and sustainability requirements of homes, which will inevitably lead to large-scale renovations. Renovation requires collective decision-making for façades and other parts of the building that are viewed as the collective property of the homeowner’s association. The availability of funding options is also extremely important for these types of renovations and this is a responsibility for the government and for profit and non-profit financial institutions to facilitate access to financing that can be paid off by the homeowner´s association. Natural disasters such as earthquakes occur frequently in Bogota and Quito. Joint ownership requires joint insurance for earthquake damage. The 2016 Quito earthquake may serve as a wake-up call in this respect. If there are collective action dilemmas and apartment buildings do not comply with the law regarding the obligatory requirement to have insurance for all kinds of damages, the government can play a role in overcoming these dilemmas by offering guarantees. Policy for condominium ownership in growing cities is essential to creating resilient cities. The old adage ‘my home is my castle’ is in dire need of adaptation in the case of condominiums, as “our castle” would be more appropriate here.

Gated communities, one of those originally Western developments, have suddenly been found in cities in the Global South. “Gated communities”, often defined on the basis of their physical form, have been criticized for disconnecting residents from their neighbors outside the gates and reducing social encounters between them. Focusing on cities in the Global South, a large body of research on social encounters between the residents of gated communities and others outside has used case studies of the middle class living in gated communities versus the poor living outside in slums, squats, or public housing. The assumption that gated communities are regarded as enclosed residential spaces exclusively for the middle class, while the poor are found solely in “informal” settlements, may have an effect of stigmatizing the poor and deepening class divisions. It is rare to find studies that take into account the possibility that there also exist gated communities in which the poor are residents. This article examines who the residents of gated communities are, and at the same time analyzes the extent to which people living in gated communities socialize with others living outside. Based on the results of qualitative research in Bangkok, Thailand, in particular, the article critically studies enclosed high-rise housing estates and shows the following: Walls and security measures have become standard features in new residential developments; not only the upper classes, but also the poor live in gated communities; the amenities which gated communities provide are available to outsiders as well; and residents living in gated communities do not isolate themselves inside the walls but seek contact and socialize with outsiders. This article argues that the Western concept of “gated communities” needs to be tested and contextualized in the study of cities in the Global South.

Purpose – This paper aims to analyze the effect of floor level on condominium prices in San Diego, California. The authors determine whether "higher-floor premiums" exist in the condominium market for a large California city. Further, they investigate how the floor premium varies throughout a building, particularly whether it is quadratic and whether there is a "penthouse premium" for top-floor units. Design/methodology/approach – The paper utilizes a data set of 2,395 condominium sales occurring in San Diego between 2006 and the second quarter of 2011. Using hedonic pricing analysis, the authors model the housing price as a function of condominium, building and neighborhood characteristics. Findings – The results suggest that there is a higher-floor premium for condominiums in San Diego. Specifically, an increase in the floor level is associated with about a 2.2 percent increase in sale price. The higher-floor premium appears to be quadratic in price, suggesting that price increases at a decreasing rate above the mean floor level. The authors also find evidence for a penthouse premium, though this effect disappears once "floor" is controlled for in the model. Originality/value – There has been little direct research on the floor effect in condominium prices. The studies that have used floor level as an explanatory variable have been predominately in Southeast Asia. The results suggest that the floor effect is more complex than previously modeled. [ABSTRACT FROM AUTHOR]

Russia's body of law has gradually been revised in parallel to the institutional rupture following the collapse of the USSR. New legislation on property, specifically housing, was adopted in the 1990s. These Legislative texts institute private property, joint tenancy, easements and other institutions of private law, but they are open to interpretation. This legislation has gradually become consistent through a usage that depends on older practices related to housing. The Russian experience during the last decade of the 20th century illustrates how the new legislation has become the law of the land by moving beyond the context of its initial proclamation into the field of application, where facts and literal rules, together, are put to the test of reality. Vanished Soviet institutions, such as "building superintendents", have been used to alleviate the impact both of the failure of current reforms and of the absence of structures capable of guaranteeing the collective dimension of privatized buildings. Since 2000, local authorities in Moscow have, for financial reasons, pushed toward privatizing collective real estate and establishing joint tenancy; but they have difficulty giving up housing policy in dealings with the city's inhabitants. This article focuses on changes during the period from the start of privatization till the adoption of the new housing code [ABSTRACT FROM AUTHOR]

The purpose of this paper is to explore the legal nature of real estate joint ownership (condominiums) in view of the recent Colombian history. The text takes the form of a dialogue among legislators, who discuss the legal nature of such complex notion. The system adopted by Law 182/1948 is analyzed --in which the common property prevails--, that of Law 16/1985 --in which the personality scheme prevails--, and finally that of Law 675/2001 --in which the created legislator explains the current system. The thesis underlying the legislators' dialogue is that the new Law on condominiums combines the two previous systems in order to figure out the legal problems and quandaries that usually have an impact upon the people who live in that kind of housing. [ABSTRACT FROM AUTHOR]

Cooperative and condominium housing differ in several ways that might be expected to influence their pricing. Most but not all of these differences argue for a higher valuation for condominiums. Hedonic equations estimated on a national sample indicate that the price differential on the avenge condo/co-op unit in 1987 was 12%. Condos maintain a price premium under a variety of specifications, although its magnitude depends on the bundle of attributes being priced. [ABSTRACT FROM AUTHOR]

When many similar properties are being auctioned, auctioneers often resort to the pooled design. The winning bidder of a given round is given a choice among all the unclaimed (pooled) properties. Bidding strategy depends on expectations of rival bidders' behavior as well as personal valuation. Anecdotal evidence from condominium auctions suggests that bidding decisions can produce price anomalies. This study develops a simple theoretical model with three active bidders and three units for sale to show how such anomalies may emerge. Estimation is then made of a hedonic price model using data from a condominium auction of 53 units on three separate dates. The empirical results support the view that the best buys are found in the middle of the auction with over- payments at the beginning and end. [ABSTRACT FROM AUTHOR]

Gated communities, one of those originally Western developments, have suddenly been found in cities in the Global South. "Gated communities", often defined on the basis of their physical form, have been criticized for disconnecting residents from their neighbors outside the gates and reducing social encounters between them. Focusing on cities in the Global South, a large body of research on social encounters between the residents of gated communities and others outside has used case studies of the middle class living in gated communities versus the poor living outside in slums, squats, or public housing. The assumption that gated communities are regarded as enclosed residential spaces exclusively for the middle class, while the poor are found solely in "informal" settlements, may have an effect of stigmatizing the poor and deepening class divisions. It is rare to find studies that take into account the possibility that there also exist gated communities in which the poor are residents. This article examines who the residents of gated communities are, and at the same time analyzes the extent to which people living in gated communities socialize with others living outside. Based on the results of qualitative research in Bangkok, Thailand, in particular, the article critically studies enclosed high-rise housing estates and shows the following: Walls and security measures have become standard features in new residential developments; not only the upper classes, but also the poor live in gated communities; the amenities which gated communities provide are available to outsiders as well; and residents living in gated communities do not isolate themselves inside the walls but seek contact and socialize with outsiders. This article argues that the Western concept of "gated communities" needs to be tested and contextualized in the study of cities in the Global South. [ABSTRACT FROM AUTHOR]