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The Benefit Estimating Model of the Public Rental Housing Improvement for Public Asset Management -Using the Contingent Valuation Method-

  • Korea Real Estate Review
  • 2011, 21(1), pp.193-208
  • Publisher : korea real estate research institute
  • Research Area : Social Science > Law > Law of Special Parts > Law of Real Estate

Cho, Yongkyung 1 YoungHo Yoon 2 Lee, Sang Youb 3

1건국대학교 부동산도시연구원
2대한주택공사주택도시연구원
3건국대학교

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ABSTRACT

In Korea, a number of public rental houses (PRH) have been supplied since 1989. Most of them need the rehabilitation and remodeling works to resolve the natural born barriers of public rental housing such as lowering resident’s satisfaction and reversely growing living cost. For more efficient and economic management of public asset, this study aims to suggest the model for estimating the benefits provided by the asset management of PRH using the CVM. In order to quantify the benefits, the monetary value of benefits has been estimated and the influencing factors on resident’s WTP(willingness to payment) of housing improvement have been analyzed based on linear logistic model. The research findings indicate the benefits of alternatives respectively A: 17,400, B: 24,620, C: 12,490, D: 26,840 thousand won, mainly controlled by the family size, monthly income, and whether a household has a disabled person or not.

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