고층아파트 재건축사업의 타당성분석

A Feasibility Analysis on the Reconstruction Projects of High-rising Apartment

&nbsp;&nbsp;1. CONTENTS<BR>&nbsp;&nbsp;(1) RESEARCH OBJECTIVES<BR>&nbsp;&nbsp;The purpose of this study is to evaluate the feasibility of apartment reconstruction projects.<BR>&nbsp;&nbsp;(2) RESEARCH METHOD<BR>&nbsp;&nbsp;For this purpose, we choose two apartment complexes, which shows similar physical conditions except locations. On the assumption that these apartment complexes are to be reconstructed without increasing units, we conduct the financial analysis of these reconstruction projects from investors&quot; (or house owners&quot;) standpoint.<BR>&nbsp;&nbsp;(3) RESEARCH FINDINGS<BR>&nbsp;&nbsp;In case of E apartment located in Kangnam-ku, BC ratios of reconstruction projects are higher than 1.1 when applied to 5% capitalization rate, which means the weak feasibility of projects. However, D apartment projects located in Nowon-ku show less than 1.0 in terms of BC ratio.<BR>&nbsp;&nbsp;2. RESULTS <BR>&nbsp;&nbsp;The results of this study reveal that apartment reconstitution projects could be carried out when the land price is high enough to cover up not only construction cost but also regulations cost.