Title:
THE UTILITY MODEL OF INTEGRATING FLOOR INTERVAL AND TOTAL NUMBER OF FLOORS FOR MULTI-FAMILY RESIDENTIAL

Authors:
Ho-wen Yang, Hsien-chi Hsieh, Taiwan

Abstract:

In the past, there were many problems in the research on the utility ratio among floors of residential buildings, including the failure to consider the impact of total number of floors, the excessive research scope and the failure to remove the parking space price and parking space area from the total price and total area of residential units. Those problems resulting in the accuracy of the estimated floor-specific utility ratio is open to question. This study hopes to improve the problems of previous studies. Taking the multi-families residential on the block near Zhongke Shopping Plaza in Xitun District, Taichung City as the research subject, a total of 1,139 transaction information of residential unit for multi-families residential with 12 floors, 15 floors, and 22 floors were selected., and then used the hedonic price model to establish the utility ratio among floors of residential buildings. The concepts of absolute floors and relative floors are used to estimate the utility ratio of residential units in the multi-family residential. The empirical results show that the utility ratio of mid-high floors is the highest among the floor intervals; in the parts of different total building heights, as the number of floors increases, the utility ratio becomes higher. In the research, the utility ratios of floor interval and different total number of floors were used to construct a model of residential unit price adjustment, which can be used as the reference for establishing the models of residential unit transaction price in other regions.