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    Impacts of the property investment market on seismic retrofit decisions

    Egbelakin, T.; Wilkinson, S.; Nahkies, Peter B.
    Abstract
    Implementing seismic risk mitigation is a major challenge in many earthquake prone regions. The objective of this research is to investigate how property investment market practices can be used to enhance building owners’ decisions to improve seismic performance of earthquake prone buildings (EPBs). A case study method adopted, revealed the impacts of the property market stakeholders’ practices on seismic retrofit decisions. The findings from this research provide significant new insights on how property market-based incentives such as such as mandatory disclosure of seismic risks in all transactions in the property market, effective awareness seismic risk program and a unified earthquake safety assessment information system, can be used to enhance EPBs owners seismic retrofit decisions. These market-based incentives offer compelling reasons for the different property market stakeholders and the public at large to retain, care, invest, and act responsibly to rehabilitate EPBs. The findings suggest need for stakeholders involved in property investment and retrofit decisions to work together to foster seismic rehabilitation of EPBs.... [Show full abstract]
    Keywords
    property investment market; seismic retrofit; building owners; property market; investments; Earthquake Prone Buildings (EPBs)
    Date
    2011-04
    Type
    Conference Contribution - Published (Conference Paper)
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    • Department of Land Management and Systems [383]
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    © Copyright 2011 NZSEE.
    Citation
    Egbelakin, T. K., Wilkinson, S., Nahkies, P. B. (2011). Impacts of the property investment market on seismic retrofit decisions. In Building an Earthquake-Resilient Society: Proceedings of the Ninth Pacific Conference on Earthquake Engineering, 14-16 April, 2011, Auckland, New Zealand. New Zealand Society for Earthquake Engineering Inc.
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