打印

作者

Masatomo Suzuki;Yasushi Asami

来源

HABITAT INTERNATIONAL,Vol.126,P.102600

语言

英文

关键字

作者单位

Center for the Promotion of Social Data Science Education and Research, Hitotsubashi University, 2-1, Naka, Kunitachi, Tokyo, 186-8601, Japan;Department of Urban Engineering, The University of Tokyo, 7-3-1, Hongo, Bunkyo-ku, Tokyo, 113-8656, Japan;Center for the Promotion of Social Data Science Education and Research, Hitotsubashi University, 2-1, Naka, Kunitachi, Tokyo, 186-8601, Japan;Department of Urban Engineering, The University of Tokyo, 7-3-1, Hongo, Bunkyo-ku, Tokyo, 113-8656, Japan;Department of Geography and Resource Management, The Chinese University of Hong Kong, Hong Kong SAR, China;School of Government, Peking University, Beijing, China;School of Economics and Management, China University of Geosciences, Beijing, China;Department of Civil and Environmental Engineering, College of Engineering, Design, Art and Technology, Makerere University, P.O. Box 7062, Kampala, Uganda;Department of Environmental Management, College of Agricultural and Environmental Sciences, Makerere University, P.O. Box 7062, Kampala, Uganda;Public Health and Environment, Kampala Capital City Authority (KCCA), P.O. Box 7010, Kampala, Uganda;Hub – Africa, A Citywide Inclusive Sanitation (CWIS) initiative by the Bill and Melinda Gates Foundation, P.O. Box 5941, Dakar, Senegal;MEIR Engineering & Research Ltd, P.O. Box 3701, Kampala, Uganda;Department of Real Estate and Construction, Faculty of Architecture, The University of Hong Kong, Hong Kong, China;Department of Building and Real Estate, The Hong Kong Polytechnic University, Hung Hom, Kowloon, Hong Kong, China;School of Design, Shanghai Jiao Tong University, Shanghai, PR China;Shanghai Key Laboratory of Urban Renewal and Spatial Optimization Technology, PR China;International Research Center for Architectural Heritage Conservation, Shanghai Jiao Tong University, Shanghai, PR China;School of Geography and Ocean Science, Nanjing University, 163 Xianlin Avenue, Qixia District, Nanjing, 210023, China;Key Laboratory of Coastal Zone Exploitation and Protection, Ministry of Natural Resources, 163 Xianlin Avenue, Qixia District, Nanjing, 210023, China;Natural Resources Research Center, Nanjing University, 163 Xianlin Avenue, Qixia District, Nanjing, 210023, China;School of Civil Engineering, Nanjing Forestry University, 159 Longpan Avenue, Xuanwu District, Nanjing, 210037, China;Department of Mechanical Engineering, Indian Institute of Technology Delhi, Hauz Khas, New Delhi, 110016, India;Sardar Patel Vidyalaya, Lodhi Estate, New Delhi, 110003, India

摘要

While houses in Asian countries have attracted international attention for the active new housing construction and rapid demolition of existing houses, empirical evidence on the structure depreciation curve is scarce. Employing a unique dataset of nationwide housing transaction prices collected by the Japanese government, which is decomposed into structure and land values by market participants, this paper formally estimates the structure depreciation curve of Japanese detached houses. First, structure value is lost by as much as 50% during the initial 10 years following construction, and the depreciation gradually continues until the property is around 30 years old. This implies that “taste for newness” at an early stage of building life (or depreciation between new houses and relatively new resale houses) is significant, and structure value is lost much faster than measured by demolition during the latter stage of building life. Second, while this trend is robust across regions and over time, the depreciation from new houses to relatively new resale houses is becoming smaller in recent years, and it is smaller in urban areas than in rural areas. This implies a recent potential for utilizing existing housing stocks, especially in urban areas in a matured society, to which other developed Asian countries or developing countries may proceed in the future.