Acknowledgement
This study was supported by the Basic Science Research Program funded by the Ministry of Education, Science, and Technology (NRF-2014R1A1A1004766).
International conference on construction engineering and project management (국제학술발표논문집)
- 2015.10a
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- Pages.689-690
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- 2015
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- 2508-9048(eISSN)
Variations in Multi-family House Prices Following Remodeling Work
- Kim, Jae-sung (Department of Architectural Engineering, Chosun University) ;
- Cho, Kyuman (Department of Architectural Engineering, Chosun University)
- Published : 2015.10.11
Abstract
The remodeling of multi-family houses (MFH) has emerged as a significant issue in the construction industry. Many decision makers struggle with the decision to remodel because of insufficient information including standards or methods for projecting the price of their structure after remodeling. In this context, this research analyzed the change in price of MFHs after remodeling. To achieve this research goal, (i) the price data from 14 groups (i.e., MFH renovation cases and equivalent MFH cases without remodeling) were collected, and (ii) the trend of price variation among each group was analyzed. Finally, this research suggests price variations of each group in terms of three different time points (i.e., before remodeling, after remodeling, and the present), which shows the effects of remodeling on the price of MFHs. This research offers a framework for the development of a model that will predict the price of an MFH after remodeling.
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