HOMEOWNERS' PARTICIPATION IN MANAGEMENT OF MULTI-STORY RESIDENTIAL BUILDINGS: THE HONG KONG'S CASE

Yung Yau

ERES from European Real Estate Society (ERES)

Abstract: Proper management and maintenance of the building stock is vital to the sustainable development of a city because of a number of reasons like the close relationship between building performance and residentsí health. While this is a widely accepted idea, people often overlooked or even rationally ignored the importance of building management. As revealed by the painful lessons of the Severe Acute Respiratory Syndrome outbreak in 2003 and the unremitting fatal building-related accidents, mismanagement of buildings in Hong Kong is common. Although proper building management and maintenance should be put in place to eradicate time bombs set by building dilapidation, homeowners in the city have been slow to embrace the culture of building care. Homeownersí participation in housing management is claimed to remain at a low level because of its voluntary nature. This article analyzes who are willing to voluntarily participate in housing management and why they participate. Generally speaking, older and wealthier homeowners are more willing to participate in building management matters, keeping other things constant. Besides, homeownersí approach towards building care is predominantly reactive since they engage in housing management for their dissatisfaction with building quality. The findings of the research will provide valuable insights to the government (particularly the Development Bureau) and quasi-government bodies (e.g. the Hong Kong Housing Society and Urban Renewal Authority) for formulating better policies on private building management.

JEL-codes: R3 (search for similar items in EconPapers)
Date: 2010-01-01
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