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Running costs indices for commercial buildings using the hedonic price imputation approach: a case of Sri Lanka
Construction Management and Economics ( IF 3.0 ) Pub Date : 2021-07-25 , DOI: 10.1080/01446193.2021.1950790
Devindi Geekiyanage 1 , Thanuja Ramachandra 1
Affiliation  

Abstract

Running expenses of a building consume a substantial share of its total life cycle cost and range between 70 and 80% in commercial buildings. Despite this, investment decisions are primarily based on construction costs due to the absence of a reliable estimate or forecast of costs in-use. In such a context, having running cost indices that incorporate building characteristics would enable investors to predict the running costs of a building at the early phase. This study is aimed at developing running cost indices for commercial buildings by taking Sri Lanka as a case. The running costs and building characteristics data were collected from a sample of 46 commercial buildings and analyzed using the hedonic price imputation approach, which enables the prediction of costs in absence of cost/quantity data. The hedonic indices developed in the study shows an increasing trend of running costs with varying degree of 0.37, 0.30, and 0.28% quarterly for offices, banks, and all commercial buildings, respectively. This prediction of trend would assist commercial developers to capture the movement of the running costs of commercial buildings and thereby optimize the running costs in the early design stage. This study further highlights the hedonic price imputation approach as a promising method for constructing index values where there is no adequate and reliable historical cost data.



中文翻译:

使用享乐价格插补法的商业建筑运营成本指数:以斯里兰卡为例

摘要

建筑物的运行费用占其整个生命周期成本的很大一部分,在商业建筑中占 70% 至 80%。尽管如此,由于缺乏对使用成本的可靠估计或预测,投资决策主要基于建设成本。在这种情况下,拥有包含建筑特征的运行成本指数将使投资者能够在早期预测建筑物的运行成本。本研究以斯里兰卡为例,旨在制定商业建筑的运行成本指数。运行成本和建筑特征数据是从 46 座商业建筑的样本中收集的,并使用特征价格插补方法进行分析,该方法可以在没有成本/数量数据的情况下预测成本。研究开发的享乐指数显示,写字楼、银行和所有商业建筑的运营成本均呈逐季上升趋势,增幅分别为 0.37、0.30 和 0.28%。这种趋势预测将有助于商业开发商捕捉商业建筑运行成本的变动,从而在早期设计阶段优化运行成本。本研究进一步强调了享乐价格插补方法是一种在没有足够和可靠的历史成本数据的情况下构建指数值的有前途的方法。这种趋势预测将有助于商业开发商捕捉商业建筑运行成本的变动,从而在早期设计阶段优化运行成本。本研究进一步强调了享乐价格插补方法是一种在没有足够和可靠的历史成本数据的情况下构建指数值的有前途的方法。这种趋势预测将有助于商业开发商捕捉商业建筑运行成本的变动,从而在早期设计阶段优化运行成本。本研究进一步强调了享乐价格插补方法是一种在没有足够和可靠的历史成本数据的情况下构建指数值的有前途的方法。

更新日期:2021-08-07
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