• Korean Journal of Construction Engineering and Management
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• v.7 no.6
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• pp.185-192
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• 2006

The maintenance expenses of public rental housing have drastically been increased as facilities become obsolete. As an effective means of managing such a situation, accurate estimating of maintenance expenses and securing financial resources are crucially important. It, therefore, is necessary to analyze major factors affecting on maintenance expenses of public rental housing's facilities, and develop an effective instrument to estimate them. On the other hand, the U.S.A, where approximately 60 percent of public rental housing's operating costs are supported by the state, has already developed an effective tool to forecast operating costs based on several years' actual data. As a result, public rental housing has been operating with a reasonable level. However, there have been no remarkable researches and studies in this field in Korea. In this context, this study attempts to examine principal determinants of maintenance expenses of public rental housing's facilities, and their influence based on the latest five years' actual operating costs. This study may contribute to develop an objective and precise tool to forecast maintenance expenses of public rental housing.

• Environmental and Resource Economics Review
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• v.14 no.4
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• pp.923-941
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• 2005

Odor problem of livestock operation is important issue in a local community. I quantified the property price impact of 199 livestock operations for 3,355 housing sales in the U.S (Colorado). Spatial hedonic model was adopted to deal with spatial autocorrelation in housing market. Small beef and dairy operations, which are the traditional agricultural sector, seem to create a positive rural lifestyle amenity effect. However, the impact of livestock operation on rural residential sales turns to negative if the operation is over a certain size and species. Large hog and sheep operation seems to bring fatal economic loss from the local community perspective if it close to residential area. Livestock odor is one of the negative externality, the results provide the potential social cost of the livestock sector in the region. Policy makers may incorporate this social cost in the regional planning to minimize the social and maximize the development effect. Therefore, local officials and private individuals should carefully consider the location and characteristics of new residential properties and livestock operations alike.

• Journal of the Korean Regional Science Association
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• v.36 no.1
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• pp.37-50
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• 2020

Estimating investment profits of real estate is critical to understand real estate markets and create relevant policy as real estate market and capital market combines closely. Thus, this study applied the concept of Tobin's Q to estimate investment profits for apartments as well as row-houses and multi-family homes in Seoul from 2010 to 2018. Investment profits were estimated by two approaches: subtracting the replacement cost from the transaction price and calculating ratio of the transaction price to the replacement cost, respectively. The spatio-temporal changes in investment profits were apparent in apartments compared with row-houses and multi-family homes. As a result of analyzing the spatial econometrics models, the investment profit was higher in the area with high density and new developments regardless of the housing types. The framework and key findings would be the effective reference to understand residential investment behavior, create relevant housing policy, introduce value capture of windfall, measure regional competitiveness, and estimate housing bubble.

• Korean Journal of Construction Engineering and Management
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• v.15 no.6
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• pp.35-43
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• 2014

Ministry of Land, Infrastructure and Transport (MOLIT) promote long-life housing to reduce social costs generated by poorly considered rebuilding and extend the life-span of housing. Long-life housing has advantages of durability, floor plan variability, efficient maintenance and ease of remodeling because it is a beam-column structure building. However, long-life housing requires somewhat higher initial construction cost than wall type apartments. It makes increase of long-life housing more difficult. In this study, we compare between wall-type apartment and beam-column structure apartment from Life-Cycle Cost's viewpoint. As a result of the study, long-life housing incurs 18% higher initial cost than wall type apartment, but is 7% more economical than wall type apartment in terms of Life Cycle Cost. Therefore, it is shown that long-life housing could be a beneficial alternative to traditional wall type apartments.

• Korean Journal of Construction Engineering and Management
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• v.13 no.1
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• pp.87-94
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• 2012

The apartment reconstruction projects have the proper functions such as residential environment improvement and the new housing allocation system; however, intention of the projects are distorted by the combination of factors, like failure of relocation of the original occupants and income redistribution, speculation in real estate, sharp rise in housing price, disputation between various interested parties, inadequate system and etc and it makes the projects unable to go well. Disputations and litigations are due to spread of the small conflict. As a result of the problems, it could not going smoothly and that lead to increase or stop the period and cost. This study is to estimate the period and cost using the conflict index so as to prevent and solve the problem which is among the conflict in the reverse functions. The conflict index has estimated focus on the conflict impact and the period and cost has been estimated using an variable independent including the conflict index. Also, estimated the conflict index and estimate of the period and cost are able to succeed with a minimum of disputation and money.

• Land and Housing Review
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• v.5 no.2
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• pp.69-79
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• 2014

Residential Environment Improvement Project (REIP) which has started in 1989 and continued with 3rd government-supporting project in 2013 has lots of policy changes and related studies. However, the related researches have focused on residents resettlement into the project site, this paper is more interested in the residents stability than residents resettlement. So, this paper analyzes the changes of residents stability on the site of REIPs (with 3 groups of dwellers, removers and newcomers). We survey about understanding of those projects, each interior physical housing characters, housing cost, outside settlement characters. On the base of case analysis, we can conclude as follows: firstly, the residents are more young, higher educated, and higher income but not alter to household, barrier, occupation. Secondly, REIPs have some positive influences on physical conditions of housing and outside characters but negative impacts on housing cost. In case of newcomers, there are no changes of housing size and room numbers but higher housing cost, better outside settlement conditions.

• Analyses & Alternatives
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• v.8 no.1
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• pp.87-109
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• 2024

At the 8th Party Congress in 2021, North Korea announced a plan to build 50,000 housing units in Pyongyang, and this paper analyzes the economic effects and related informal costs of of the project. Currently, Pyongyang is experiencing a significant housing shortage. It is estimated that the number of households in Pyongyang increased by 184,000 between 1994 and 2020, while the estimated new housing supply during the period was only 30,000. Pyongyang's 50,000 housing units construction project is characterized by the goal of improving the living conditions of workers, the application of the new city construction method, and the largest state-led housing construction since the Arduous March. The project is expected to generate economic effects such as increasing workers' motivation to work, increasing tourism resources, and generating income from related industries. On the one hand, a significant portion of the construction cost of the 50,000-unit housing project in Pyongyang is passed on to companies and households in the form of informal cost such as quasi-taxes and manpower mobilization. In addition, there may be congestion in the power supply and sewerage facilities that occur when moving in. If these costs are not taken into account, the feasibility of a housing construction project may not be properly assessed, making it difficult to sustain it in the long term.

• 주택과사람들
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• s.199
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• pp.15-19
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• 2006

해외를 자주 다니며 각국의 풍물과 문화를 많이 접한다는 김현우 씨 부부. 천장이 높고 바닥이 깊은 스타일의 주택을 선호하는 그들의 취향이 밴, ‘성북동 하우스’에 대한 애정은 각별하다. 아무리 많은 비용이 들더라도 ‘꿈의 집’으로 삼았던 이상을 반드시 실현하고야 말겠다는 부부의 의지가 대단하다.

• Korean Journal of Construction Engineering and Management
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• v.6 no.6 s.28
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• pp.171-180
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• 2005

Public rental housing is constructed, owned, and managed by the public sector. The public institution for the public rental housing controls the whole building life cycle from the construction to the demolition. The construction company for the house built for sale is strongly interested in the cost for the initial investment, while the public institution is more focused on the maintenance cost for the preservation of the buildings Nevertheless, the maintenance cost of the public rental housing has been only managed as the accounting factor without the systemic research and analysis on the actual condition. This paper shows how expenses are related to the degree of obsolescence and presents the differences of the maintenance costs by the housing area and expenditure trends (vs time) of the maintenance costs, through analyzing time series data of public rental housing maintenance cost. Further, this paper helps understanding the causes of the differences of the maintenance costs by housing areas and characteristics of the expenditure trends. After all, this paper contributes to the improvement of the reliability and the practicality for the Life Cycle Cost modeling and the maintenance cost estimating.

• 주택과사람들
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• s.214
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• pp.72-73
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• 2008