Thermal Comfort–Based Differential Pricing for High-Rise Apartments in Hot and Humid Climates: A Multicriteria Decision-Making Approach
Publication: Journal of Architectural Engineering
Volume 30, Issue 4
Abstract
Amidst the prevailing subjective pricing paradigms for high-rise apartments in India, this paper advocates for a paradigm shift toward thermal comfort–based differential pricing, recognizing its pivotal role in influencing residents’ well-being in hot and humid climates and energy savings. Understanding the correlation between thermal comfort, floor level, and orientation can lead to implementing such pricing strategies. Three models are proposed through market surveys and simulations, incorporating thermal comfort and other existing market preferences using Hedonic regression and two models using the analytic hierarchy process. The comparison reveals that Model 1, based on buyers’ preferences, yields a 0.72% mean improvement in the total sale price, Model 2, focused on thermal comfort, sees a mean increase of 0.86%, and Model 3, incorporating both thermal comfort and buyer preferences, results in a mean increase of 2.22%. The study emphasizes the significance of a multicriteria-based pricing model for high-rise apartments with thermal comfort as the focus, highlighting its flexibility to accommodate diverse criteria and determine suitable differential prices by adjusting percentage priorities based on specific requirements.
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Data Availability Statement
Some or all data, models, or codes that support the findings of this study are available from the corresponding author upon reasonable request, such as simulation results, measured environmental data, MATLAB code for AHP, and regression analysis.
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Information
Published In
Journal of Architectural Engineering
Volume 30 • Issue 4 • December 2024
Copyright
© 2024 American Society of Civil Engineers.
History
Received: Jan 17, 2024
Accepted: May 6, 2024
Published online: Aug 7, 2024
Published in print: Dec 1, 2024
Discussion open until: Jan 7, 2025
ASCE Technical Topics:
- Analysis (by type)
- Architectural engineering
- Buildings
- Business management
- Climates
- Construction engineering
- Construction management
- Contracts and subcontracts
- Decision making
- Engineering fundamentals
- Engineering mechanics
- Environmental engineering
- Humidity
- Meteorology
- Models (by type)
- Practice and Profession
- Pricing
- Residential buildings
- Simulation models
- Structural engineering
- Structures (by type)
- Thermal analysis
- Thermodynamics
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