Economic analysis of customised apartments

Customisation of living space is intrinsically valuable and has been supported by the increasingly wider application of customised housing. With customised housing, customers have wider choices beyond the monolithic decision in traditional housing. Given the additional choices for customers, develop...

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Bibliographic Details
Published inMass Customisation and Personalisation in Architecture and Construction pp. 127 - 138
Main Authors Tang, Guohua, Tseng, Mitchell M.
Format Book Chapter
LanguageEnglish
Published Routledge 2013
Edition1
Subjects
Specific Business Environment
Service Elevator
Multi-criteria Decision Support System
Partition Layout
Customisation Scheme
Part-worth Utilities
Mass Customisation
Customisation Scope
Electrical Contractors
CA
Delayed Product Differentiation
Product Service Systems
BIM
IAC
Product Offerings
Customisable Attributes
Sol
FEMA
FEMA Trailer
Business Process
Eth Zurich
Energy Conservation
Discrete Choice Models
Taiwan's Housing Industry
Full Scale Physical Models
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Summary:Customisation of living space is intrinsically valuable and has been supported by the increasingly wider application of customised housing. With customised housing, customers have wider choices beyond the monolithic decision in traditional housing. Given the additional choices for customers, developers are facing new challenges in deciding different business alternatives, such as what is the right mix of customisable attributes offered to customers, range of choices etc. This chapter addresses this challenge from the economic perspective by developing a decision framework based on discounted cash flows. To simplify the problem, Customised Apartment (CA) is selected to neutralise the geographic location factor. This chapter presents a framework for developers to evaluate the economic feasibility of CA with considerations of different customisation schemes within a unified framework. Thus developers can pro vide choices not only catered to customer needs, but also avoid complexity and redun dancy. Furthermore, a case study of high-rise apartments is presented to discuss the operating window of CA in a specific business environment by demonstrating how some critical factors can be incorporated into the framework.
ISBN:9780415622837
0415622840
0415622832
9780415622844
DOI:10.4324/9780203437735-14