The Initial Liveable Rating of Gated Residential Real Estate Designs: An Empirical Survey Based on Data from Bangkok Metropolitan Region, Thailand
Keywords:
Initial liveable rating, gated residential, subdivision development, survey, Bangkok Metropolitan RegionAbstract
This paper has 3 core purposes. Firstly, to provide the survey descriptive information of 3 financial terms (actual property selling-price (APP), gated residential real estate development cost (DC), and operation and maintenance expense (OME)), and the gated residential real estatedesign features in Bangkok Metropolitan Region (BMR), Thailand. Secondly, to indicate the initial liveable rating (ILR) for gated residential real estate designs in BMR. Finally, to cross tabulate the 3 financial terms with different initial liveable rating levels (ILRL) of gated residential real estate designs in BMR. This paper is based on an empirical survey of 50 subdivisions around BMR. The ILRL are developed by applying the norm-referenced method on summation of standardization value of each design feature. The survey data are employed to calculate the cross tabulation of each financial term with the ILRL. The survey results find that the financial items are useful for both developers and customers. The average APP and DC provide information on the project feasibility study for the developers, while OME is a necessary guideline for customers when estimating appropriate long-term community management expenses. Meanwhile, the survey data of design items reflect the current quantity and quality of gated residential real estate design and are useful for the designers when considering their design level. Finally, the ILRL is a simple indicator for deciding appropriate gated residential real estate designs. The cross-tabulation result could support the developers’ planning process and provide information about the long-term expense during customers’ selection process. The data for this study are gathered from primary surveys. The numbers of collected subdivision are limited by time and developers’ permission. The design information is confidential; thus, name and specific location of the projects cannot be published. The paper provides broad information underpinning gated residential real estate development and identifies the simply ILR of gated residential real estate designs for BMR. The cross-tabulation data between the ILRL and 3 financial terms would be applicable to justify the impact of design on the development practises and assist the customers to make appropriate decisions.
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