JOURNAL BROWSE
Search
Advanced SearchSearch Tips
Factors Determining the Price of Remodeled Multi-family Housing
facebook(new window)  Pirnt(new window) E-mail(new window) Excel Download
 Title & Authors
Factors Determining the Price of Remodeled Multi-family Housing
Kim, JaeSung; Cho, Kyuman; Kim, Taehoon;
  PDF(new window)
 Abstract
Remodeling of multi-family house (MFH) has emerged as a major issue in the construction industry. Many decision-makers are struggling to determine whether to conduct a remodeling because of insufficient information including standard or method for projecting the price of their facilities after remodeling works. In this context, this research has conducted for analyzing how the price of the MFH is shifted by remodeling works. To achieve this research goal, (i) fourteen MFH remodeling cases were collected and (ii) price variation for the collected cases was analyzed in order to figure out how remodeling work affects the price of MFH cases. Finally, this research suggested the factors determining price of the MFH, wherein remodeling work has been conducted. From the results of this research, it is expected that the decision-makers can understand what is the crucial factors for determining the price of their MFH when they plans remodeling, and further this research can be a corner stone for developing a model for predicting the price of MFH if remodeling would be performed.
 Keywords
MFH Remodeling;Price Influencing Factors;Multi-parameter Data Analysis;
 Language
Korean
 Cited by
1.
Real Estate Appraisal Method for the Remodeled Office Building - Focusing of Income Capitalization Method -, Journal of the Architectural Institute of Korea Structure & Construction, 2016, 32, 7, 57  crossref(new windwow)
 References
1.
Cheon, I. H. (2007). "A Study on Features and Price Determinants of Apartment in Changwon", Journal of the Korea Real Estate Review , KRERI, 17(1), pp. 49-70.

2.
Cho, J., Lee, K., Yoo, H., and Kim, Y. (2012). "A Study on Vitalizing Plans of Extension Remodeling for Apartment Housings", Korean Journal of Construction Engineering and management, KICEM, 13(4), pp. 33-47.

3.
Choi, J. D. (2007). "An Empirical Analysis of Price Differentiation Among Multi-Family Housing Types", MS thesis, Hanyang Univ., Seoul, Korea.

4.
Choi, Y., Kim, H., and Park, M. (2008). "Differences between Sale Prices and Lotting Prices in New Multi-family Housing Considering Housing Submarket", Journal of The Korean Society of Civil Engineers D, Korean Society of Civil Engineers, 28(4D), pp. 523-531.

5.
Choi, Y. A., and Song, B. H. (2006). "A Study on Evaluating The Importance of the Residential Environment Factors Influencing the Price of Apartment House", Journal of Architectural Institute of Korea Planning & Design, AIK, 22(11), pp. 115-124.

6.
Hwang, H., Lee, C., and Kim, M. (2008). "Effect of Visibility of the Han River on Housing Price", Journal of The Housing Studies Review, KAHPS, 16(2), pp. 51-72.

7.
Heo, S. R., and Gwak, S. J. (1994). "An Analysis of the Implicit Price of Housing Characteristics in Seoul Apartment Market", Journal of The Housing Studies Review, KAHPS, 2(2), pp. 27-42.

8.
Jang, H. S., and Shin, D. H. (2004). "A Study on the Pricing Determinants of Apartment Houses in Medium and Small Sized Cities", Journal of the Korea Real Estate Academy, KREA, 23, pp. 206-215.

9.
Jeong, S. H., and Kang, J. M. (2002). "A Factor Impact to Leasing Price of A.P.T", Journal of The Korean Regional Development Association, KRDA, 14(2), pp. 57-75.

10.
Jung, S. Y. (2005). "A Study on Determinants of Apartment Price in JeJudo", Journal of the Korea Real Estate Analysis Association, KREAA, 11(2), pp. 143-155.

11.
Jung, S., Kim, T., and Park, H. (2009). "A Study on Influencing Apartment Price with the Top 10 Apartmnet Brands in Seoul, Korea", Journal of the Korean Urban Management Association, KUMA, 22(3), pp. 133-156.

12.
Kang, C. G., and Jung, C. M. (2001). "A Static. Dynamic Study on the Economic Value Change of Housing Price Determinants", Journal of the Korea Planning Association, KPA, 36(6), pp. 217-224.

13.
Kang, H. J., and Oh, D. H. (2009). "An Analysis on the Characteristics of Office Building Invested by Indirected Real Estate Fund and Its Correlation with Investment Return Rate", Journal of The Housing Studies Review, KAHPS, 17(1), pp. 95-118.

14.
Kim, D., Choi, Y., and Kim, G. (2010). "A Study on the Agreement Rate Encouraging Restriction Factor of Multi-family Housing Remodeling", Korean Journal of Construction Engineering and management, KICEM, 11(1), pp. 122-129.

15.
Kim, H. C. (2010). "A Study on the Limit of Effective Construction Which Considers Economic Value for Remodeling Project at High-rise Apartment Complex", MS thesis, Seoul National University of Technology, Seoul, Korea.

16.
Kim, H. J. (2003). "Analysis on the Determining Factors of Apartment Sales Prices and Chonsei Prices in Seoul", Journal of the Korea Real Estate Academy, KREA, 22, pp. 98-121.

17.
Kim, J. Y., and Lee, C. M. (2005). "Dynamics of Amenity Effects on Housing Price", Journal of the Korea Planning Association, KPA, 40(1), pp. 59-74.

18.
Kim, K. C. (2011). "Improve Directionality of Multifamily Housing Remodeling Policy", The Journal of Korean Policy Studies, The Kyong-In Society for Public Administration, 11(2), pp. 27-52.

19.
Kim, W., Cha, H., Shin, D., and Kim, K. (2013). "Profit/Cost Prediction Model for E conomic Feasibility Assessment on Aged-Housing Remodeling Projects", Journal of The Architectural Institute of Korea Structure & Construction, AIK, 29(4), pp. 85-92.

20.
Ko, H., Cho, G., Lee, Y., and Kim, J. (2007). "Estimating the Value of Eco-Friendly Factors within an Apartment Housing Price", Journal of Architectural Institute of Korea Structure & Construction, AIK, 23(12), pp. 173-180.

21.
Koo, B. C. (2002). "Hedonic Study of Apartment Prices : A Case Study of Bundang New Town", Journal of the Korea Spatial Planning Review, KRIHS, 34, pp. 113-127.

22.
Lee, J. S., and Cho, J. H. (2010). "A Sutdy on the Evaluation of Real Estate Consulting in Korea", Journal of the Korea Real Estate Academy, KREA, 40, pp. 5-13.

23.
Moon, T. H., and Jeong, Y. Y. (2008). "Analysis of Determinant Factors of Apartment Price Considering the Spatial Distribution and Housing attributes", Journal of Geographic information studies, KAGIS, 11(1), pp. 68-79.

24.
Park, W. S., and Rhim, B. J. (2012). "A Study on the Determinant Factors of the Apartment Price", Journal of The Residential Environment Institute of Korea, REIK, 10(1), pp. 91-113.

25.
Song, J. C. (2011). "Dynamic Analysis on the Influence of Price Determining Factors on Apartment Price", MS thesis, Jeju National Univ., Jeju, Korea.

26.
Woo, K., and Jeong, S. Y. (2009). "The Study on Determinating the Factors Affecting Apartment Prices in Yeosu Using Factor Analysis", Journal of the Korea Real Estate Academy, KREA, 37, pp. 237-246.

27.
Yoo, I., Kim, C., Yoon, Y., and Yang, K. (2004). "A Feasibility Study Method for Apartment Remodeling by Hedonic Model", Journal of The Korea Institute of Building Construction, KIBC, 4(3), pp. 117-124.

28.
Yoon, J. J., and Yu, W. (2001). "The Influence of Landscape Outlook Characteristics", Journal of the Korea Planning Association, KPA, 36(7), pp. 67-83.