@article{ART001230252},
author={Lee, Young-Man and 배순석},
title={Micro-Economic Analysis on the Optimal Maintenance, and the Optimal Choice between Remodeling and Redevelopment of an Old House},
journal={The Korea Spatial Planning Review},
issn={1229-8638},
year={2007},
volume={55},
number={4},
pages={217-238},
doi={10.15793/kspr.2007.55.4.012}
TY - JOUR
AU - Lee, Young-Man
AU - 배순석
TI - Micro-Economic Analysis on the Optimal Maintenance, and the Optimal Choice between Remodeling and Redevelopment of an Old House
JO - The Korea Spatial Planning Review
PY - 2007
VL - 55
IS - 4
PB - 국토연구원
SP - 217
EP - 238
SN - 1229-8638
AB - The main purpose of this paper is to find out policy implications after analysing the factors that affect the housing owners to make decision on the level of housing improvement (or maintenance); improvement timing; and the method of housing improvement (for example housing reconstruction vs. remodelling).
The analysis was carried out assuming that every housing owner makes decision so that he/she could maximize the housing unit value. The main findings from the analysis can be summarized as the following:
- the optimal timing for development gets delayed as the economic growth rate gets lower
- where the economic growth rate is high, housing owners prefer housing reconstruction to housing remodelling.
- the optimal maintenance expenditure gets smaller where building density is lower; where the housing unit value is lower; and where the economic growth rate is higher.
KW - Housing Maintenance;Remodelling;Reconstruction;Optimal Timing of Development;Micro Analysis
DO - 10.15793/kspr.2007.55.4.012
ER -
Lee, Young-Man and 배순석. (2007). Micro-Economic Analysis on the Optimal Maintenance, and the Optimal Choice between Remodeling and Redevelopment of an Old House. The Korea Spatial Planning Review, 55(4), 217-238.
Lee, Young-Man and 배순석. 2007, "Micro-Economic Analysis on the Optimal Maintenance, and the Optimal Choice between Remodeling and Redevelopment of an Old House", The Korea Spatial Planning Review, vol.55, no.4 pp.217-238. Available from: doi:10.15793/kspr.2007.55.4.012
Lee, Young-Man, 배순석 "Micro-Economic Analysis on the Optimal Maintenance, and the Optimal Choice between Remodeling and Redevelopment of an Old House" The Korea Spatial Planning Review 55.4 pp.217-238 (2007) : 217.
Lee, Young-Man, 배순석. Micro-Economic Analysis on the Optimal Maintenance, and the Optimal Choice between Remodeling and Redevelopment of an Old House. 2007; 55(4), 217-238. Available from: doi:10.15793/kspr.2007.55.4.012
Lee, Young-Man and 배순석. "Micro-Economic Analysis on the Optimal Maintenance, and the Optimal Choice between Remodeling and Redevelopment of an Old House" The Korea Spatial Planning Review 55, no.4 (2007) : 217-238.doi: 10.15793/kspr.2007.55.4.012
Lee, Young-Man; 배순석. Micro-Economic Analysis on the Optimal Maintenance, and the Optimal Choice between Remodeling and Redevelopment of an Old House. The Korea Spatial Planning Review, 55(4), 217-238. doi: 10.15793/kspr.2007.55.4.012
Lee, Young-Man; 배순석. Micro-Economic Analysis on the Optimal Maintenance, and the Optimal Choice between Remodeling and Redevelopment of an Old House. The Korea Spatial Planning Review. 2007; 55(4) 217-238. doi: 10.15793/kspr.2007.55.4.012
Lee, Young-Man, 배순석. Micro-Economic Analysis on the Optimal Maintenance, and the Optimal Choice between Remodeling and Redevelopment of an Old House. 2007; 55(4), 217-238. Available from: doi:10.15793/kspr.2007.55.4.012
Lee, Young-Man and 배순석. "Micro-Economic Analysis on the Optimal Maintenance, and the Optimal Choice between Remodeling and Redevelopment of an Old House" The Korea Spatial Planning Review 55, no.4 (2007) : 217-238.doi: 10.15793/kspr.2007.55.4.012
