Khalid, G (1994) Obsolescence in hedonic price estimation of the financial impact of commercial office buildings: The case of Kuala Lumpur. Construction Management and Economics, 12(1), pp. 37-44. ISSN 01446193
Abstract
This paper discusses the empirical findings of an analysis of the financial impact of obsolescence using the hedonic price technique. The difference between the rental price of a building and the highest rental price of office buildings in the market was used as the measure of the financial impact of obsolescence on the building. The analysis shows that the financial impact caused by obsolescence can be analysed and estimated for use in building design and investment appraisals.
| Item Type: | Article |
|---|---|
| Uncontrolled Keywords: | design; hedonic price; obsolescence; rental income |
| Index terms: | hedonic price, commercial office, office building, estimation, building design, income, investment appraisal, obsolescence |
| Subjects: | construction type, architectural design, economic analysis, financial and cost management, real estate economics, asset management |
| Topics: | Construction Technology, Cost Management, Business Strategy, Design Practice, Urban Studies |
| Descriptive scope: | 2 PC |
N.B. Descriptive scope is a count of how many of the five facets of empirical research are indicated by the words used in title, abstract and keywords. It is not intended as a judgement on the research; merely a count of the kind of word we would expect to indicate Phenomenon, Concepts, Theoretical framing, Empirical techniques, Analytical techniques. If all five are present, then a code of “5 PCTEA” will indicate this. If you feel the coding for this record is questionable, we welcome discussion around the terms we matched or the way we categorized them. The facet you would expect may not be coded, or a facet may be coded inappropriately. This can also bear on a larger question, of which facets should be treated as defining in construction management research. Please get in touch, and we will look at it. More details here