• Title/Summary/Keyword: Real estate

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The Method of Evaluating The Potential for Conversion Legal Problems with Conversion And Basic Capacity of Vacant Onces in Tokyo

  • Sato, Kouichi;Matsumura, Shuichi;Namiki, Kenji
    • Proceeding of Spring/Autumn Annual Conference of KHA
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    • 2002.11a
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    • pp.301-306
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    • 2002
  • In Japan, the vacancy rates of office buildings have been at high in big cities since 1992. This problem is especially acute in Tokyo, where it is estimated that over 2.27 million square meters of office floor area will be oversupplied in 2003: big urban redevelopment projects will be completed in 2003. Under these circumstances, International Cooperative Research and Development on Sustainable Urban Management by Conversion of Buildings, called “SUMCOB”, has been carried out. This research aims to regenerate urban areas by converting redundant offices into flats, although instances of conversion are still very few in Japan. This paper introduces part of current results by SUMCOB, and discusses legal problems with conversion and basic capacity of vacant offices in Tokyo. It has been confirmed that there are no constraints concerned with Real Estate Registration Law (although it requires the change of the registration after conversion). and City Planning Law. However, some criteria are incompatible with Building Standard Law and Fire Service Law if the use of the building is changed from offices to flats. Typical incompatibility between offices and flats is lightening. If the buildings do not satisfy criteria for flats, the cost of renovation works for conversion will increase. To examine the basic capacity of vacant office buildings for conversion, field surveys in Tokyo have carried out at three areas: Kodenmacho (Chuo-ku), Toranomon (Minato-ku), and Iwamonocho (Chiyoda-ku). They are typical office areas that are included in center core of Tokyo. In Chuo-ku, the oldest commercial area in Tokyo, textile merchants have been located their headquarters. In Minato-ku, many rental office buildings have been located and several large scale redevelopments are advancing. Chiyoda-ku includes Marunouchi area, which is the prime office area in Japan. Thirty percent of the buildings in survey areas suffer from over twenty percent vacant floor rate, and fifty five percent were constructed before 1990. Especially most of buildings over forty percent vacant floor rate were constructed in 1980s. Vacant office problems haven't been seen in old buildings in Tokyo yet. The number of dwelling units made from office space will influence the conversion scheme. Seventy percent of the office buildings in survey areas have floor area of less than two hundred square meters. If they have been subdivided into two bedrooms type or three bedrooms type, the number of dwelling units in a floor would be less than three. The difficulty of conversion planning derives from frontage size, depth size, and their proportion. The five categories are proposed to grasp actual requirements for converting offices into flats.

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Evaluation on the impact of Lowest Bid Contracts on Site Operations in times of Severe Economic Downturn (건설경기 침체기의 최저가 낙찰제 건설현장의 운영 실태분석과 개선 방안 도출)

  • Koo, Bon-Sang;Jang, Hyoun-Seung
    • Korean Journal of Construction Engineering and Management
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    • v.10 no.6
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    • pp.146-153
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    • 2009
  • The year 2008 was a hard year for Korea's construction companies. The real estate downturn resulted in halting new construction and stopping existing work, and inflation of global oil prices caused price hikes in rebar and concrete materials. As a solution to reducing the budget, the newly appointed government announced plans to increase low cost bid contracts from 10 billion to 30 billion won. When such economical and political factors negatively impact the construction market, projects based on low cost contracts are the hardest hit. Many problems already inherent in low cost bid contracts become accentuated. Consequently, this provides an opportune time to actually study and analyze the issues in these projects. This paper introduces the findings made from investigating four projects struggling to make ends meet in the year 2008. Results show that flow of cash (i.e., liquidity), or lack thereof, was the root cause which in turn was hampered by failed mechanisms for design changes, material inflation. Attributing cash flow risk to the bottom of the production structure (i.e., small business subcontractors) was also a problem within the industry. Contractors need a better way to prepare against material price fluctuations, and owners need to assist in expediting payment during times of extreme downturn.

A Study on the Housing Satisfaction According to the Variables of Apartment Dwellers (아파트 거주자의 변인에 따른 주거환경 만족도의 차이에 대한 연구)

  • Ha, Kyu-Soo;Jin, Seon-Jin
    • Journal of the Korean Home Economics Association
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    • v.48 no.1
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    • pp.83-96
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    • 2010
  • This study was conducted to derive useful predictive variations for the qualitative supply of homes to provide information to real estate venture businesses and other business owners in neighborhood amenities and significant basic information to housing suppliers and policy makers. For this purpose, a number of apartment dwellers in Seoul were surveyed to examine their housing satisfaction, difference in housing satisfaction according to variables, and any relevant correlations. In detail, 500 apartment dwellers in Seoul were surveyed from September 1, 2009 to September 20, 2009 to gather resources that were processed through SPSS 14.0 to find percentage of frequency, mean, standard deviations, t-test, ANOVA, and Duncan Multiple Ranger's Test. The following were the findings of this study: First, housing satisfaction of apartment dwellers in Seoul was above average with the highest satisfaction with neighborhood environment. Second, satisfaction with amenities was significantly affected by dweller-related variables. Gangnam dwellers were more satisfied with housing environment and community environment than Gangbuk dwellers. By age, people in 20s and 30s showed high satisfaction with housing environment. Satisfaction with community environment was high among 20s, 30s and 40s. Satisfaction with management conditions was high among 20s. Also, satisfaction was high when housing period was between 1 and 10 years. By size, dwellers in 40py or larger homes showed high satisfaction with housing environment and management conditions. Dwellers in 30py and 40py or larger homes were satisfied with community environment. By ownership, dwellers with ownership of their homes showed high satisfaction. Third, there was a significant difference in satisfaction with neighborhood and social environments according to dweller-related variables. By region, dwellers of Gangnam area showed high satisfaction with neighborhood environment. By age, people in 20s, 30s and 40s showed high satisfaction with neighborhood environment. Also, satisfaction with neighborhood environment was high when housing period was around 10 years. By size, dwellers in 30py and 40py or larger homes were satisfied with neighborhood and social environments. Fourth, there was a close correlation between satisfaction with housing environment and satisfaction with community environment, and between satisfaction with community environment and satisfaction with management conditions. Thus, most dwellers that were satisfied with one variable of housing environment showed high satisfaction with other variables.

Strategic Management of the Policy for Seoul City's Hangang Renaissance (네트워크 분석적 의사결정방법(ANP)을 이용한 서울시 한강르네상스 정책의 전략적 관리방안)

  • Cho, Se-Hwan;Jeong, Gwang-Seop;Kim, Sang-Won;Won, Jai-Mu
    • Journal of the Korean Institute of Landscape Architecture
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    • v.39 no.1
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    • pp.1-10
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    • 2011
  • This study was performed for the purpose of reviewing the strategic management direction and ideas of the policy for Seoul City's Hangang Renaissance. In order to accomplish this, levels were established for each step of the policy and the policy priority by level was derived. The policy priority by level was analyzed by a decision making model through the Analytic Network Process(ANP) and the priority would be the standard to judge the order of priority. The analysis results showed that there was not a big difference between the priorities of two basic concepts: restoration and creation. The fourth level, detail plan of the third level, showed priority that development by type for waterside city in case of reorganizing city space and diversification of land utilization, utilization of riverside space in water front town for public and composit purpose, establishment of comprehensive plan on constructions in case of improving the landscape of Hangang and unified design plan rose to important element in case of forming Hangang park with the me. Based on the results of priority analysis, we would like to propose for the direction about the policy on Hangang Renaissance project, the policies forming Hangang Park with theme through unified design plan and reorganizing city space have to be proceed preferentially and connected with other plans.

A Fundamental Study on the Development of the Fusion Education Curriculum in the Field of Architecture and Urban: based on Practitioner-oriented Survey (건축·도시 분야 융복합 교육과정 개발을 위한 기초연구 -실무자 중심의 설문조사를 기반으로-)

  • Hong, So-Hee;Yoo, Seung-Kyu;Yuh, Ok-Kyung;Kim, Jae-Jun
    • Journal of the Korea Academia-Industrial cooperation Society
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    • v.16 no.5
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    • pp.3491-3498
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    • 2015
  • The purpose of this study is to identify demand of fusion education in the field of architecture and urban, according to architecture and urban market changing, product changing, increasing fusion education demand. We conducted online surveys targeting construction and non construction field practitioners so that we want to identify consumer's needs about fusion education in the field of architecture and urban. Research findings can be summarized in three parts. First, practitioners need to fuse business-related majors (Frequency changing ratio : financing(716.7%), management(633.3%), planning(454.5%) etc.) and traditional majors. Second, the survey results show that 79 percent of those questioned were in favor of switching the cyber and off-line operation methods for fusion education. They require the complementary education system between off-line and cyber education based on education accessability. Third, the survey results show that 70.9 percent of those questioned were in favor of limited freestyle(Freedom of choices without required subjects). The curriculum should be arranged according to the flow of construction business process including fusion subjects.

A Comparative Study on Aging Characteristics in Metropolitan Area New Towns of Korea and Japan Specifically on Bundang and Tama New Town (한일 수도권 교외 신도시 고령화 특성 비교 연구 - 분당신도시와 다마뉴타운을 중심으로)

  • Kim, Seong-Hee;Kim, Joong-Eun
    • Journal of the Korea Academia-Industrial cooperation Society
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    • v.18 no.6
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    • pp.710-719
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    • 2017
  • This study conducted a survey on the time serial change in the aging ratio and population structure in new towns and their housing complex of Korea and Japan, and revealed the differences in the factors that affect the aging ratio in new towns of Korea and Japan through a comparison of the housing provision of housing complex with a high aging ratio. Rapid aging is underway around the housing complexes that were developed in the beginning of Tama new town in Japan. Agingtends to increase in proportion to the opening time of the housing complex. Rental housing residents of early migration households showed rapid aging because they had generation separation early due to narrow housing. On the other hand, Bundang new town maintains a lower aging ratio and speed than Seoul and Seoul metropolitan area due to the constant influx of student population. On the other hand, aging is more likely to increase in large houses due to the depression of the real estate market.

Analysis on Priority of Influence Factors for Management of Vertical-extension Remodeling Project (수직증축 리모델링공사의 효율적 관리를 위한 영향요인 분석)

  • Lee, Dong-Heon;Lim, Hyoung-chul
    • Journal of the Korea Academia-Industrial cooperation Society
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    • v.17 no.9
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    • pp.314-321
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    • 2016
  • After the 1980s, as the economy was growing rapidly and the real estate market was active, a large increase in population was supplied to the city. Accordingly, the national apartment housing market is located in the form of Urban Housing Culture. On the other hand, with time, the supply apartment houses became superannuated and the residential environment became poor. Therefore, the environment of old apartment houses has been changed to improve by reconstruction. Despite this, reconstruction incurred not only a lot of construction waste, but also problems of environmental degradation, noise, traffic congestion, increasing number of households, and so on. Recently, the housing law has changed, and vertical extension remodeling focused on Small/Medium Town House is underway. This has been changed in response to the demand. This is one of essential parts in the remodeling field for the future, even though it has some problems in how uses existing buildings. Therefore, this study analyzed occurrence risk factor for each type through research materials and case analysis regarding the vertical extension remodeling of apartment housing. In addition, the relative importance was determined through questionnaires and interviews from constructors, designers, and experts in the field.

A Research on the Importance of Decision Making in Process of Promoting an Urban Regeneration Project -Focused on Cheong-ju City- (도시재생 사업추진과정에서의 의사결정기준 중요도 -청주시를 중심으로-)

  • Kim, Joonghun;Oh, Hyoungseok;Baik, Minseok;Hwang, Jaehoon
    • Journal of the Korea Academia-Industrial cooperation Society
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    • v.17 no.9
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    • pp.431-439
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    • 2016
  • Urban regeneration projects involve various stakeholders, which result in decision making processes that require long periods of time and cause many conflicts. This study aims to identify important factors in decision making for promoting an urban regeneration project. The analysis results utilizing AHP are as follows: Firstly, the analysis results identify the main considerations in the process of promoting urban regeneration projects as residents' opinion(0.393), involvement of local government(0.231), opinions of related experts(0.206) and master plan(0.169). Secondly, the key drivers of stakeholders' qualitative decision making were found to include sustainability(0.325), economic feasibility(0.277), ease of project implementation(0.232) and equity(0.166). Lastly, meaningful differences in the relative importance of key aspects of decision making were identified when respondents were grouped according to being aware or not aware of the urban regeneration project, as well as living on or living off the project site. The results of this study can be used to implement successful urban regeneration projects in the future.

Economic Evaluation of Unused Space PV System Using the RETScreen Model - A Case Study of Busan, Gangseo-gu - (RETScreen 기반 유휴공간 태양광 발전 시스템의 경제성 평가 연구 - 부산시 강서구 사례를 중심으로 -)

  • Kang, Seongmin;Jeon, Youngjae;Cho, Sung Heum;Lee, Daekyeom;Jeon, Eui-Chan
    • Journal of Climate Change Research
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    • v.8 no.1
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    • pp.21-30
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    • 2017
  • Recently, There has been much discussed about unused space. This space can be used in a variety of ways. Utilizing it as a facility, craft shop, and utilizing renewable energy generation facilities. Especially, in terms of climate change should be supplied renewable energy. Renewable energy needs to be developed in terms of responding to climate change, and the recent Paris agreement is also emphasizing the importance of renewable energy. In particular, renewable energy needs to be widely disseminated. And renewable energy is limited space. In this regard, idle land can provide opportunities for securing new renewable energy generation facilities. The introduction of new and renewable energy facilities in idle space can enhance the self-sufficiency rate of the local community, which is significant in terms of responding to climate. In this study, to investigate the possibility of utilizing a unused space for a photovoltaic power generation facility, we investigated the amount of electricity which could be generated through photovoltaic power generation, and the economic effects, using a RETScreen model. The results showed that 9,738 MWh of power can be generated and that $4,540tCO_2eqcan$ be saved. Regarding the economic effect, the net present value of the facility was shown to be 2,247,389,020 KRW. As the net present value was shown to be positive, we believe that the installation of a photovoltaic power generation facility in an unused space would have a positive economic effect. We found the net present value following the fluctuation of the SMP price to be positive, though there was some variation. However, as the economic efficiency was shown to be low because the net present value in relation to the maintenance costs was negative, we believe that maintenance costs must be taken fully into account when evaluating economic efficiency. In particular, as subsidies can be used to cover maintenance costs which must be factored into photovoltaic power generation, we believe that photovoltaic power generation can have an economic effect. Because spaces not currently in use can have a positive economic effect as renewable energy power generation facilities, and can also contribute to the reduction of greenhouse gas emissions, unused spaces are thought to greatly help local governments to cope with climate change as well as reinforcing their related capabilities. We believe our study will help local governments with decisions relating to unused real estate utilization in the future.

An Analysis of Index for Gentrification occurred in Urban Regeneration Projects (도시재생사업에서 젠트리피케이션 발생 요인 분석)

  • Lee, Jeong-Dong
    • Journal of the Korea Academia-Industrial cooperation Society
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    • v.20 no.10
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    • pp.187-194
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    • 2019
  • The purpose of this study was to review the Gentrification and Development Index in terms of domestic and foreign gentrification. Based on the important indicators of the Gentrification index through previous research, the four evaluation areas were divided into structure and subject, production and consumption, supply and demand, and capital and culture. Looking at the importance of each area, the production and consumption aspects were highest as the important index of the occurrence of gentrification, followed in order by the supply and demand, the structure and subject, and the capital and culture order. From the detailed factors, the report revealed the changes in sales to structure and subject matter, increases in franchises to production and consumption, rises in rent to supply and demand, and transient population to capital and culture to be important items. In addition, an analysis of the gentrification occurrence indicators in urban regeneration project areas revealed high weight in terms of production and consumption, supply, and demand, including the increased franchises, one-person start-ups, higher rents and higher real estate values. In other words, the occurrence of gentrification in urban regeneration areas produces the largest portion of the increases in franchises and rent. Therefore, step-by-step measures are needed through monitoring.