Abstract
Based on construction economics, building economics and assessments of the service life of constructions, the need for building renovation is notably higher than the actual amount taking place. As energy-saving renovations become more common, the volume of building renovation is expected to grow even further. However, only a few suppliers handle building renovation and there is a lack of tailored solutions.
This study has searched for a reason for this phenomenon. This is a theoretical study in
economics, testing the rationalisation ability of three different economics theories, including
the theory of construction economics, evolutionary economic theory and the theory of
creating customer value.
In accordance with construction economics theory, renovation construction competes in all
owner sectors with other expenditures, and since renovations can be postponed, they often
are. Demand is not activated by interesting supply or by supply corresponding to the needs.
Renovation projects are implemented with a production-oriented new construction concept.
In addition, a user-oriented approach does not produce a good outcome if it does not include
catering for the special features of renovation construction.
This study has searched for a reason for this phenomenon. This is a theoretical study in
economics, testing the rationalisation ability of three different economics theories, including
the theory of construction economics, evolutionary economic theory and the theory of
creating customer value.
In accordance with construction economics theory, renovation construction competes in all
owner sectors with other expenditures, and since renovations can be postponed, they often
are. Demand is not activated by interesting supply or by supply corresponding to the needs.
Renovation projects are implemented with a production-oriented new construction concept.
In addition, a user-oriented approach does not produce a good outcome if it does not include
catering for the special features of renovation construction.
| Original language | English |
|---|---|
| Title of host publication | Management and Innovation for a Sustainable Built Environment Hans Wamelink (ed.) |
| Editors | Hans Wamelink |
| Place of Publication | Amsterdam |
| Publisher | Delft Technical University |
| ISBN (Print) | 978-905-269395-8 |
| Publication status | Published - 2011 |
| MoE publication type | D2 Article in professional manuals or guides or professional information systems or text book material |