Abstract

In Seoul, old small and medium-sized buildings that are over 25 years old account for more than 60% of the total. So these old buildings need to be remodeled to restore building functions and improve aesthetics. Nevertheless, due to the absence of previous studies on risk factors occurring in remodeling projects, risk management is difficult during remodeling, therefore remodeling is sluggish. This study aims to contribute to revitalizing remodeling by developing risk factors for remodeling small and medium-sized buildings and analyzing and presenting the importance of each factor using the AHP technique. As a result of the analysis, it was found that the 'preparation stage' was overwhelmingly important among the four stages of the major classification. Among the 10 attributes of the medium classification, “market analysis” and “asset analysis” ranked first and second. Among the 25 factors of the minor classification, it was analyzed that it is important in the order of 'market survey error', 'MD composition failure', and 'current status map and real mismatch'. As an implication, the most carefully considered risk in the remodeling project is not only a thorough investigation of the sale price and rent information of similar buildings, but also a floor-by-floor rental composition(MD) plan optimized for the location of the target building. Because ‘MD composition’ is a plan that can maximize the rent that the target building can generate according to its location. If this plan succeeds, it will lead to an increase in building value as well as an increase in rental income, which is the most important factor both for the building owner and the developer.

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