Influence of the Facility Management of the Modern Buildings on their Utility and Market Value

Jan Paek and Veronika Sojková

ERES from European Real Estate Society (ERES)

Abstract: The modern buildings nowadays are becoming so different from traditional building constructions especially in the case of an indoor parameter’s environment and low energy performance. New building materials, new technologies for HVAC, new construction approaches as smart buildings, energy passive buildings, etc. bring new criteria for real estate evaluation. The presence of sophisticated technical solutions and technologies in modern buildings requires a sophisticated approach to their management in order to achieve a high quality environment, health and performance of building users.Quality of indoor environment is based on several factors, divided into two groups – technical parameters and services. The technical properties include lighting, acoustics, air conditioning, ventilation, and heating, and also flexibility of the indoor space, design, colours, facilities etc. On the other side, the services forming the indoor environment are the building security, maintenance, respectively facility management in its entirety. All this addition value of the building is necessary to take into account for real estate valuation purposes. The problem, that needs to be solved continuously in this process, is to objectify all the decisive parameters and properties determining the value of a modern building. Assessing the contribution of the quality of facility management is one of the modern challenges.

Keywords: Facility Management; indoor environment; Market value of buildings; Smart buildings; Utility value of buildings (search for similar items in EconPapers)
JEL-codes: R3 (search for similar items in EconPapers)
Date: 2019-01-01
New Economics Papers: this item is included in nep-ene
References: Add references at CitEc
Citations:

Downloads: (external link)
https://eres.architexturez.net/doc/oai-eres-id-eres2019-368 (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:arz:wpaper:eres2019_368

Access Statistics for this paper

More papers in ERES from European Real Estate Society (ERES) Contact information at EDIRC.
Bibliographic data for series maintained by Architexturez Imprints ().