File Download

There are no files associated with this item.

  Links for fulltext
     (May Require Subscription)
Supplementary

Article: The effects of building management practices on residential property prices in Hong Kong

TitleThe effects of building management practices on residential property prices in Hong Kong
Authors
KeywordsBuilding management
Apartment buildings
Hedonic price model
Hong Kong
Issue Date2009
PublisherPalgrave Macmillan Ltd. The Journal's web site is located at http://www.palgrave-journals.com/jba
Citation
Journal Of Building Appraisal, 2009, v. 4 n. 3, p. 157-167 How to Cite?
AbstractBuilding management and maintenance has gained its importance after a series of disastrous building-related incidents in Hong Kong. To facilitate the management of an apartment building, homeowners usually form an owners association among themselves and/or appoint an external property management agent (PMA) to manage the building on their behalf. Empirical studies found that the involvement of these bodies was conducive to a better-performing built environment, and that premium was added to better-performing properties. Yet, these studies often took the formation of owners association and engagement of external PMA in a building as dichotomous variables in exploratory models, and thus ignored the variations in the adopted building management practices in different buildings even with the same building management setting. Making use of the data collected from two previous research projects, a hedonic price analysis was carried out to study whether specific building management practices added value to the properties concerned. The analysis results indicated that properties in buildings with good documentations (eg keeping of as-built architectural drawings and incident records), thoughtful emergency planning (eg presence of emergency plan and regular fire drills) and property-all-risk insurance coverage were sold at a premium, ceteris paribus. Policy and practical implications then follow. © 2009 Palgrave MacMillan.
Persistent Identifierhttp://hdl.handle.net/10722/131082
ISSN
2013 SCImago Journal Rankings: 0.164
References

 

DC FieldValueLanguage
dc.contributor.authorYau, Yen_HK
dc.contributor.authorHo, DCWen_HK
dc.date.accessioned2011-01-24T03:42:16Z-
dc.date.available2011-01-24T03:42:16Z-
dc.date.issued2009en_HK
dc.identifier.citationJournal Of Building Appraisal, 2009, v. 4 n. 3, p. 157-167en_HK
dc.identifier.issn1742-8262en_HK
dc.identifier.urihttp://hdl.handle.net/10722/131082-
dc.description.abstractBuilding management and maintenance has gained its importance after a series of disastrous building-related incidents in Hong Kong. To facilitate the management of an apartment building, homeowners usually form an owners association among themselves and/or appoint an external property management agent (PMA) to manage the building on their behalf. Empirical studies found that the involvement of these bodies was conducive to a better-performing built environment, and that premium was added to better-performing properties. Yet, these studies often took the formation of owners association and engagement of external PMA in a building as dichotomous variables in exploratory models, and thus ignored the variations in the adopted building management practices in different buildings even with the same building management setting. Making use of the data collected from two previous research projects, a hedonic price analysis was carried out to study whether specific building management practices added value to the properties concerned. The analysis results indicated that properties in buildings with good documentations (eg keeping of as-built architectural drawings and incident records), thoughtful emergency planning (eg presence of emergency plan and regular fire drills) and property-all-risk insurance coverage were sold at a premium, ceteris paribus. Policy and practical implications then follow. © 2009 Palgrave MacMillan.en_HK
dc.languageeng-
dc.publisherPalgrave Macmillan Ltd. The Journal's web site is located at http://www.palgrave-journals.com/jbaen_HK
dc.relation.ispartofJournal of Building Appraisalen_HK
dc.rightsJournal of Building Appraisal. Copyright © Palgrave Macmillan Ltd.-
dc.subjectBuilding management-
dc.subjectApartment buildings-
dc.subjectHedonic price model-
dc.subjectHong Kong-
dc.titleThe effects of building management practices on residential property prices in Hong Kongen_HK
dc.typeArticleen_HK
dc.identifier.openurlhttp://library.hku.hk:4550/resserv?sid=HKU:IR&issn=1742-8262&volume=4&issue=3&spage=157&epage=167&date=2009&atitle=The+Effects+of+Building+Management+Practices+on+Residential+Property+Prices+in+Hong+Kong-
dc.identifier.emailHo, DCW:danielho@hku.hken_HK
dc.identifier.authorityHo, DCW=rp01001en_HK
dc.description.naturelink_to_subscribed_fulltext-
dc.identifier.doi10.1057/jba.2008.42en_HK
dc.identifier.scopuseid_2-s2.0-59649086491en_HK
dc.identifier.hkuros181868-
dc.relation.referenceshttp://www.scopus.com/mlt/select.url?eid=2-s2.0-59649086491&selection=ref&src=s&origin=recordpageen_HK
dc.identifier.volume4en_HK
dc.identifier.issue3en_HK
dc.identifier.spage157en_HK
dc.identifier.epage167en_HK
dc.publisher.placeUnited Kingdomen_HK
dc.identifier.scopusauthoridYau, Y=12806101900en_HK
dc.identifier.scopusauthoridHo, DCW=12805583800en_HK

Export via OAI-PMH Interface in XML Formats


OR


Export to Other Non-XML Formats