Our country's traditional dwelling pattern of detached houses has been changed into communal houses by an impact from the factors such as industrialization. Among the communal houses, apartments take more than half of all houses of the country.
The a...
Our country's traditional dwelling pattern of detached houses has been changed into communal houses by an impact from the factors such as industrialization. Among the communal houses, apartments take more than half of all houses of the country.
The apartments were provided in a large scale by the construction of high -story and high-density apartments and construction plan of two million houses in the late 1980 as a means of solving serious housing problem caused by the urban concentration of population. The equipment and materials of constructed apartments are old as the time passes and because of the improvement in standards of living, the expectation of living space has been changed. So there has been the desire for its new structure and function.
In addition, for the government, the problem of chronic excess demand has been solved to some degree due to the 100 % achievement of housing supply ratio. That makes the government enable its policy to change from the policy of putting the supply first to the policy of putting the management first by the redesign of related legal systems such as reconstruction and remodeling. To make the remodeling project be settled as Urban Renewal Project like the reconstruction project, the study of solving the restraint elements and the change of public opinion for remodeling project are needed. Furthermore regarding the apartment remodeling, the main concerns of residents are improving house environment and the increase of economic value, that is, the way how the price is formed in the real estate market after the remodeling. So the study on this field is needed for many people who live in the apartments. Based on this need, this study is focused on analyzing the factors which influence the remodeling apartments' price, drawing the general factors of remodeling apartments' price formation, and contributing to forming the proper price and invigorating communal houses' remodeling project.
Generally, the price of real estate is formed by its usefulness, relative rarity, and interaction of effective demand. We call the factors which influences and moves these three things the price formation factors in the real estate. This study is based on a premise that the general and regional factors have same effect to the similar apartments in the neighborhood. This study draws the factors that have an effect on the market price by the actual analysis for the individual factor that needs remodeling.
The target of this study was ranged as follows to investigate the factors that influence the formation of market price. As for the space range, remodeling was recognized as the City Renewal Project, and most cases of the project was really done with the target of old apartments in Seoul. So, this study was done targeting the remodeling apartment sites whose remodeling construction was completed and all residents were moved in them. Time range was set up from 2001 when the remodeling construction began to now 2010.
This study tried to grasp the meaning of remodeling determinant factors by theoretic consideration focused on domestic and foreign literatures and investigating the precedent study related with the real estate and apartment prices. In addition, this study attempted to examine the research trend as for the concept or system of remodeling. For the survey, it analyzed actually the remodeling determinant factors targeting the residents who already moved in the apartment after the remodeling and appointed residents who were going to move in the apartment after the remodeling project. And a registered architect who is the expert in remodeling, a public officer who is in charge of remodeling in the autonomy group, a person who is in charge of remodeling in the constructor, a property appraiser, and a licensed real estate agent were added to the target.
The method of this study is to analyze preferences to use the important index of the critical factor of remodeling to target at the residents who move in the apartment with completion of remodeling project and those who are going to move in the apartment after the remodeling project. It is also the method to draw the price formation factor of the remodeling apartment by using AHP(Analytic Hierarchy Process) in order to find it out for the experts.
This study has the result to analyze preferences of the critical factor of remodeling to target at customers and the importance of price formation factor to target at experts as following.
In the results of analysis of the critical factor of remodeling, preferences of top-criteria critical factor show that enlargement of valid area(93.60) has the highest value among top-criteria critical factors of remodeling, followed by the builder's image (83.60), energy-saving facility installation(81.20), eco-friendly site making (79.00), and scale of construction (78.80).
The result of analysis of preferences about sub-criteria items of enlargement of valid area shows that enlargement of parking lot (93.80) is the most preferred followed by change of space in no use (83.00), enlargement of a balcony (81.60), addition of new room (77.80), and change of core formation (63.20).
The result of analysis of preferences of sub-criteria items of improvement of convenience shows that modernization (95.80) in a kitchen and a bathroom has the highest value, followed by expansion of convenience and welfare, enlargement of a cabinet (83.60), improvement of outdoor facility (71.80,) and improvement of elevator facility (69.00).
The result of analysis of preferences of sub-criteria items of the builder's image presents that the builder's brand (94.20) has the highest value, followed by construction experience (88.60), and the builder's awareness (85.40).
The result of analysis of preferences of sub-criteria items of construction enforcement scale shows that preference over the scale of 5 sites(87.20) is the highest.
In addition, the weight calculation of top-criteria items in the result of