Nexus between running costs and building characteristics of commercial buildings: hedonic regression modelling

What is it about?

Generally, the clients are curious to know their likely financial commitments and costs implications as the design, construction and use phases evolve. Although there is enough evidence to support that design variables may affect the construction costs of the buildings significantly, there is a lack of research to support the impact of design variables on running costs. With that motivation, this study intends to establish the relationship of running costs with thirteen most significant building characteristics. Subsequently, a hedonic regression model is developed to benchmark the running costs of commercial buildings. The developed hedonic model is expected to illustrate the variance of running costs with respect to the changes in characteristics of a building and it could help both building constructors and owners to make informed cost decisions over properties.

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