Building Renovation: A New Industry

Research output: Chapter in Book/Report/Conference proceedingChapter or book articleProfessional

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.
Original languageEnglish
Title of host publicationManagement and Innovation for a Sustainable Built Environment Hans Wamelink (ed.)
EditorsHans Wamelink
Place of PublicationAmsterdam
PublisherTU Delft
ISBN (Print) 978-905-269395-8
Publication statusPublished - 2011
MoE publication typeD2 Article in professional manuals or guides or professional information systems or text book material

Fingerprint

Industry
Economic theory
Economics
Evolutionary economics
Expenditure
Suppliers
Energy saving
Customer value
Testing
Rationalization
Theory construction

Cite this

Vainio, T. (2011). Building Renovation: A New Industry. In H. Wamelink (Ed.), Management and Innovation for a Sustainable Built Environment Hans Wamelink (ed.) Amsterdam: TU Delft.
Vainio, Terttu. / Building Renovation : A New Industry. Management and Innovation for a Sustainable Built Environment Hans Wamelink (ed.). editor / Hans Wamelink. Amsterdam : TU Delft, 2011.
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Vainio, T 2011, Building Renovation: A New Industry. in H Wamelink (ed.), Management and Innovation for a Sustainable Built Environment Hans Wamelink (ed.). TU Delft, Amsterdam.

Building Renovation : A New Industry. / Vainio, Terttu.

Management and Innovation for a Sustainable Built Environment Hans Wamelink (ed.). ed. / Hans Wamelink. Amsterdam : TU Delft, 2011.

Research output: Chapter in Book/Report/Conference proceedingChapter or book articleProfessional

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AB - 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 ineconomics, testing the rationalisation ability of three different economics theories, includingthe theory of construction economics, evolutionary economic theory and the theory ofcreating customer value.In accordance with construction economics theory, renovation construction competes in allowner sectors with other expenditures, and since renovations can be postponed, they oftenare. 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 includecatering for the special features of renovation construction.

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Vainio T. Building Renovation: A New Industry. In Wamelink H, editor, Management and Innovation for a Sustainable Built Environment Hans Wamelink (ed.). Amsterdam: TU Delft. 2011