论文信息 - The evidence of value enhancement resulting from rehabilitation

The evidence of value enhancement resulting from rehabilitation

Purpose – The long‐standing urban decay problem in Hong Kong continues to receive attention from the government and concerned organisations. However, little attention is paid to the financial benefits that can be achieved after old buildings are rehabilitated. This study seeks to evaluate and quantify the value enhancement of aging buildings resulting from rehabilitation.Design/methodology/approach – Using the direct sales comparison method, the study critically examines over 80 sample buildings across Hong Kong. Residential properties with rehabilitation completed in the public sector are chosen as samples for numerical analysis.Findings – The results show that: the capital value of the sample buildings after rehabilitation increased by an average of 35.6 percent; the overall appreciation rate of the sample buildings (35.6 percent) exceeds that of other buildings in the same district (20.8 percent); the average price increase of the sample buildings (25.7 percent after adjustment) is greater than that of...

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