Browse > Article
http://dx.doi.org/10.6106/KJCEM.2022.23.5.108

Minimum Floor Area Ratio Estimation Model for Reconstruction Projects to Compensate for Loss of the Aged Long-term Public Rental Housing  

Joe, Wongoog (Department of Architectural Engineering, Dankook University)
Na, Seunguk (Department of Architectural Engineering, Dankook University)
Cho, Jeaho (Department of Architectural Engineering, Dankook University)
Chae, MyungJin (Construction Management, Central Connecticut State University)
Son, Bosik (Department of Architectural Engineering, Namseoul University)
Kim, Hyunsoo (Department of Architectural Engineering, Dankook University)
Chun, JaeYoul (Department of Architectural Engineering, Dankook University)
Publication Information
Korean Journal of Construction Engineering and Management / v.23, no.5, 2022 , pp. 108-116 More about this Journal
Abstract
Started in 1989 as Public Permanent Rental Housing scheme, public rental housing lease policy is increasing target residents and supply in each government by introducing new supply types. However, public housing business entities have difficulties in expanding the supply due to cumulated deficit. The research suggested long-term public rental housing reconstruction business as a method to preserve the cumulated deficit from the previous. Minimum floor area ratio mathematical model was suggested by defining the floor area ratio of reconstruction business as minimum, since housing sales profit after reconstruction could preserve aggregated deficit, and mathematically approached by considering the traits of long-term public rental housing reconstruction. The determinant for minimum floor area ratio mathematical model comprise cumulated deficit of the existing long-term public rental housing, land size of reconstructed sale housing, housing sales price per unit area, and business cost per unit area. Minimum floor area ratio mathematical model is expected to be the milestone for supporting decision making regarding the economic part of old long-term public lease housings' reconstruction scale, and expanding housing supply within urban area.
Keywords
Aged Public Rental Housing; Reconstruction; Floor/Area Ratio; Compensate for Economical Loss;
Citations & Related Records
Times Cited By KSCI : 1  (Citation Analysis)
연도 인용수 순위
1 Cho, D.H. (2013). "A study on the changing process of rental housing supply policy in South Korea." Space and Environment, 23(4), pp. 58-101.
2 Choi, Y.J. (2009). "Improvement of Incentive System for Urban Renewal focusing on Daejeon Metropolitan City." Mokwon University. Doctor's thesis.
3 Jin, M.Y. (2015). "Financial Support on the Operating Losses in the Public Rental Houses." Land and Housing Institute.
4 Kim, C.I. (2018). "Explaining Housing Prices: From the Perspective of the Interaction between Age and Floor Area Ratio." Journal of Real Estate Analysis, 4(1), pp. 1-14.   DOI
5 Kim, C.S., and Kim, J.Y. (2002). "Effects of Floor Area Ratio on the Apartment Prices of Urban Renewal Project." Journal of Korea Planning Association, 37(4), pp. 123-132.
6 Kim, S.B., and Seon, K.U. (2018). "A Study on the Sustainability of Long-term Public Rental Housing in Korea." Journal of the Korean Urban Management Association, 31(3), pp. 1-28.
7 Kim, S.H. (2014). "A Study Deficit Income and Expenditure Improvement of Public Rental Housing Business in Local Public Corporation." 3(1), pp. 263-286. Available from: doi:10.35525/nabo.2014.3.1.008.   DOI
8 Korean Statistical Information Service (2021). Public rental housing stock at the end of 2020, (May. 15, 2022).
9 Lee, S.G., and Lim, D.H. (2008). "The Impact of the Expectation for Rebuilding on Apartment Price." Hanyang University, Master's thesis.
10 Ministry of Land, Infrastructure and Transport (2021). Housing Work Handbook, pp. 379-384.
11 Ministry of Land, Infrastructure and Transport (2022). "By the first half of 2021, rental houses of 49,000 units nationawide and 24,000 units in the metropolitan area will be intensively supplied." (Apr. 15, 2022).
12 Sung, J.U., and Nam, J. (209). "Analysis on the Satisfaction Factors of Housing Performance and Residential Environment of Public Housing in Seoul." Journal of Korea Planning Association, 54(3), pp. 49-62.   DOI
13 Go, J.P. (2009). "The Regeneration Scheme of the Superannuated High-rise Apartment Housing." Journal of Policy Development, 9, pp. 1-22.
14 Kim, B.S., and Ryu, J.S. (2016). "Route Changes of Our Policy the Public Rental Housing - of Nest Housing and Happy Homes." Journal of the korea Contents Association, 16(9), pp. 170-184. Available from: doi:http://dx.doi.org/10.5392/JKCA.2016.16.09.170.   DOI
15 Kim, J.A. (2020). "Simulation about the Impact to Raise the Public Housing Rentals on the Supplier's Financial Risk Hedge." Korea Real Estate Society, 55, pp. 103-124.   DOI
16 Kim, T.H. (2004). "A Study on the Changes of the Apartment price in Accordance with Reconstruction Characteristics in Seoul." Korea Real Estate Review, 14(2), pp. 179-200.
17 Lim, S.Y. (2019). "A Study on the Public Rental Housing Supply Management System in the Housing Welfare Dimensions for the Elderly and the disadvantaged." Namnam-Ul University, Doctor's thesis.
18 Ministry of Land, Infrastructure and Transport Statistics Nuri (2022). Public rental housing inventory at the end of 2020, (Apr. 15, 2022).
19 The 20th Presidential Transition Committee (2022). Yoon Suk Yeol Government 110 National Tasks, (May. 31, 2022).
20 Shin, H.G., and Lee, T.G. (2019). "The Study on the Residence Satisfaction and Quality of Life of Public Rent Housing Residents: Focused on the LH Public Rent Housing of Kyungnam Region. korean policy sciences review (Korean Association For Policy Science)." 23(3), pp. 33-54.   DOI
21 Jung, C.M,, and Kwon, O.H. (2009). "A Study on Affecting Price of Apartments and Feasibility by Floor Area Ratio - Focused on Gyeonggi-do Newtown Project Area." Journal of the Architectural Institute of Korea Planning & Design, 25(12), pp. 137-144.