DOI: 10.5176/2425-0112_UPPD18.111
Authors: Hsuan Lo
Abstract:The concept of Urban Renewal (UR) developed in America in the 1960s, and initially emphasized large-scale redevelopment, which led to oversupply and housing market saturation. Although conceptions associated with UR that employ smallscale renewal have since appeared, Taipei City Government has still applied large-scale redevelopments as the primary method. Furthermore, compared to the capitals of other Asian countries, Taipei City possesses higher Housing Vacancy Rates (HVR) and has the largest number of large-scale UR cases. Also, UR and HVR share similar notions such as house price level, housing attributes, investment motivations, and urban development. In addition, it has been reported that plenty of renewed houses are vacant or not efficiently used. Therefore, this research aims to identify whether there is correlation between UR and HVR through HVR’s influencing factors. In addition, it is doubtful that there is a new supply path for housing market when Urban Renewal Act was announced in 1998, and whether the new institution would cause higher HVR? In practice, reconstruction, the major mean of UR implementation currently, is also a possible threat that would contribute to high HVR. There are several barriers to implementing UR such as the lack of other incentives and the gaps between departmental policies. Thus, from the analysis results and international cases, it is suggested that Taiwanese governments should make UR more attractive to investors on the one hand, and guidance and regulations should also be amended to prevent UR implementation from increasing HVR on the other hand. Finally, this research will point out the specific issues and solutions as findings and recommendations to address the problems between imperfect UR institutions and high HVR.
Keywords: Urban Renewal, Housing Vacancy Rates, Housing Attribute, Urban Development
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