Management of high-rise residential development in Hong Kong

Fong, Peter K.W.

doi:10.1016/0264-2751(85)90035-6

Cited by 2 publications

(2 citation statements)

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“…Besides, the external PMAs are responsible for keeping up physical conditions of buildings through preventive measures and routine maintenance. They also attend to the fi nancial wellbeing of building management structure under their charge through fi scal planning and budget controls ( Fong, 1984 ).…”

Section: Roles Of Building Management Bodiesmentioning

confidence: 99%

“…Yet, we need to understand the root of the current predicaments in building management and maintenance before a sensible solution can be devised. Fong (1984) attributed the building problems to the high-rise high-density development pattern adopted in Hong Kong. In multi-storey residential or apartment buildings, communal areas (eg entrance lobbies and communal corridors) and facilities (eg water supply systems and fi re service installations) are co-owned by individual homeowners, and all owners are jointly responsible for the management and maintenance of these shared parts ( Nield, 1990 ;Bailey and Robertson, 1997 ;Yip and Forrest, 2002 ).…”

Section: Introductionmentioning

confidence: 99%

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The effects of building management practices on residential property prices in Hong Kong

Yau

2009

J Build Apprais

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Building management and maintenance has gained its importance after a series of disastrous building-related incidents in Hong Kong. To facilitate the management of an apartment building, homeowners usually form an owners ' association among themselves and / or appoint an external property management agent (PMA) to manage the building on their behalf. Empirical studies found that the involvement of these bodies was conducive to a better-performing built environment, and that premium was added to betterperforming properties. Yet, these studies often took the formation of owners ' association and engagement of external PMA in a building as dichotomous variables in exploratory models, and thus ignored the variations in the adopted building management practices in different buildings even with the same building management setting. Making use of the data collected from two previous research projects, a hedonic price analysis was carried out to study whether specifi c building management practices added value to the properties concerned. The analysis results indicated that properties in buildings with good documentations (eg keeping of as-built architectural drawings and incident records), thoughtful emergency planning (eg presence of emergency plan and regular fi re drills) and property-all-risk insurance coverage were sold at a premium, ceteris paribus . Policy and practical implications then follow.

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Section: Roles Of Building Management Bodiesmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%