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Article: A cost-and-benefit evaluation of housing rehabilitation

TitleA cost-and-benefit evaluation of housing rehabilitation
Authors
KeywordsCost benefit analysis
Hong Kong
Housing
Redevelopment
Issue Date2005
PublisherEmerald Group Publishing Limited. The Journal's web site is located at http://www.emeraldinsight.com/ss.htm
Citation
Structural Survey, 2005, v. 23 n. 2, p. 138-151 How to Cite?
AbstractPurpose - There have been very few cost-and-benefit evaluations of rehabilitation. This paper is a triangulation attempt to evaluate directly the cost-and-benefit of rehabilitation works without relying on price-proxy and econometric assumptions. Design/methodology/approach - Chau et al., in their paper, "Estimating the value enhancement effects of refurbishment" (Facilities, Vol. 21 No. 1/2, 2003) have produced an empirical test by regression on the elevation of property price-differential after rehabilitation. However, property price is merely a proxy on the improvements of building conditions, and its efficiency in reflecting building quality is subject to some institutional constraints. The estimation is also subject to the validity of econometric assumptions. This paper investigates the improvements directly under 18 assessment criteria of the quality of seven housing blocks in Hong Kong. Findings - The results show that rehabilitation brings benefits to owners, but that these only marginally outweigh the benefits of redevelopment. Research limitations/implications - The sample size is small, yet it opens up a new framework for future studies on building performance assessment of rehabilitation. Practical implications - The study serves as a benchmark for future assessment of rehabilitation works. Originality/value - The study represents an attempt to evaluate the costs and benefits of rehabilitation using a direct performance assessment approach. © Emerald Group Publishing Limited.
Persistent Identifierhttp://hdl.handle.net/10722/168725
ISSN
2015 SCImago Journal Rankings: 0.262
References

 

DC FieldValueLanguage
dc.contributor.authorYiu, CYen_HK
dc.contributor.authorLeung, AYTen_HK
dc.date.accessioned2012-10-08T03:31:50Z-
dc.date.available2012-10-08T03:31:50Z-
dc.date.issued2005en_HK
dc.identifier.citationStructural Survey, 2005, v. 23 n. 2, p. 138-151en_HK
dc.identifier.issn0263-080Xen_HK
dc.identifier.urihttp://hdl.handle.net/10722/168725-
dc.description.abstractPurpose - There have been very few cost-and-benefit evaluations of rehabilitation. This paper is a triangulation attempt to evaluate directly the cost-and-benefit of rehabilitation works without relying on price-proxy and econometric assumptions. Design/methodology/approach - Chau et al., in their paper, "Estimating the value enhancement effects of refurbishment" (Facilities, Vol. 21 No. 1/2, 2003) have produced an empirical test by regression on the elevation of property price-differential after rehabilitation. However, property price is merely a proxy on the improvements of building conditions, and its efficiency in reflecting building quality is subject to some institutional constraints. The estimation is also subject to the validity of econometric assumptions. This paper investigates the improvements directly under 18 assessment criteria of the quality of seven housing blocks in Hong Kong. Findings - The results show that rehabilitation brings benefits to owners, but that these only marginally outweigh the benefits of redevelopment. Research limitations/implications - The sample size is small, yet it opens up a new framework for future studies on building performance assessment of rehabilitation. Practical implications - The study serves as a benchmark for future assessment of rehabilitation works. Originality/value - The study represents an attempt to evaluate the costs and benefits of rehabilitation using a direct performance assessment approach. © Emerald Group Publishing Limited.en_HK
dc.languageengen_US
dc.publisherEmerald Group Publishing Limited. The Journal's web site is located at http://www.emeraldinsight.com/ss.htmen_HK
dc.relation.ispartofStructural Surveyen_HK
dc.subjectCost benefit analysisen_HK
dc.subjectHong Kongen_HK
dc.subjectHousingen_HK
dc.subjectRedevelopmenten_HK
dc.titleA cost-and-benefit evaluation of housing rehabilitationen_HK
dc.typeArticleen_HK
dc.identifier.emailYiu, CY: ecyyiu@hkucc.hku.hken_HK
dc.identifier.authorityYiu, CY=rp01035en_HK
dc.description.naturelink_to_subscribed_fulltexten_US
dc.identifier.doi10.1108/02630800510593701en_HK
dc.identifier.scopuseid_2-s2.0-20344403961en_HK
dc.relation.referenceshttp://www.scopus.com/mlt/select.url?eid=2-s2.0-20344403961&selection=ref&src=s&origin=recordpageen_HK
dc.identifier.volume23en_HK
dc.identifier.issue2en_HK
dc.identifier.spage138en_HK
dc.identifier.epage151en_HK
dc.publisher.placeUnited Kingdomen_HK
dc.identifier.scopusauthoridYiu, CY=9248825800en_HK
dc.identifier.scopusauthoridLeung, AYT=7403012564en_HK
dc.identifier.citeulike222552-

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