The purpose of the study is to show that architecturalquality in dwellings has an impact on purchase prices. This isperformed through an empirical investigation of 178 purchasesof flats in co-operative housing associations within GreaterStockholm. The studied dwellings are all in multifamilyhousing.
The conceptarchitectural qualityis discussedand defined to match the purpose of the investigation. Thequalities of the dwellings have been rated according to fixedcriteria. Price data are asking prices from real estatebrokersadvertisements of sales.
Investigation and analyses have been carried out by threedifferent methods:
Statistical analysis in the form of multivariableregressions analysis, which required quantified measures ofquality.
Enquiry to the buyers of the flats in the sample, ontheir evaluation of the qualities of the dwelling and theactual purchase price.
Interviews with a small sample of buyers.
Starting point for the analyses was a model for residentialchoice based upon location, dwelling area and payment to theco-operative housing association and the assumption thatdifferences in quality were of great importance for the finaldecision.
The regression analyses did show that overall differences inarchitectural quality had significant impact on price in thesample of study objects.
The enquiry showed that residents evaluated architecturalquality in common with the architects criteria, but thatthey also did evaluate many other forms of quality in adwelling before buying a flat. The balancing of differentqualities differed between buyers.
Another result of the enquiry was data of purchase prices.Asking prices were a good estimation of market values, but theydid differ substantially from purchase price in some cases.
The interviews increased the understanding of how differentcategories of buyers see and evaluate architectural quality.They also described which qualities in a dwelling that attractbuyers in their residential choice,
As a whole the study has shown:
It is possible to rate architectural quality inquantitative terms
Residents and architects have many criteria in common intheir evaluation of architectural quality
In the dwellings of the studied sample architecturalquality had an impact on price amounting to 10-15 %
Key Concepts: Architectural Quality; Co-operativeHousing; Evaluation of Quality; Hedonic Prices; Model forResidential Choice; Quantified Measures of Quality; RegressionAnalysis
Institutionen för arkitektur , 2000. , 141 p.