Parameters used in simulation
\r\n\tThe aim of this book will be to describe the most common forms of dermatitis putting emphasis on the pathophysiology, clinical appearance and diagnostic of each disease. We also will aim to describe the therapeutic management and new therapeutic approaches of each condition that are currently being studied and are supposed to be used in the near future.
",isbn:null,printIsbn:"979-953-307-X-X",pdfIsbn:null,doi:null,price:0,priceEur:0,priceUsd:0,slug:null,numberOfPages:0,isOpenForSubmission:!1,hash:"278931ae110500350d8b64805c70f193",bookSignature:"Dr. Eleni Papakonstantinou",publishedDate:null,coverURL:"https://cdn.intechopen.com/books/images_new/7934.jpg",keywords:"Atopic eczema, Interleukin, Topical corticosteroids, Hand eczema, Blisters, Pruritus, Irritant contact dermatitis, Allergic contact dermatitis, Discoid eczema, Sebaceous glands, Inflammatory dermatitis, Facial rash",numberOfDownloads:null,numberOfWosCitations:0,numberOfCrossrefCitations:0,numberOfDimensionsCitations:0,numberOfTotalCitations:0,isAvailableForWebshopOrdering:!0,dateEndFirstStepPublish:"February 5th 2019",dateEndSecondStepPublish:"March 19th 2019",dateEndThirdStepPublish:"May 18th 2019",dateEndFourthStepPublish:"August 6th 2019",dateEndFifthStepPublish:"October 5th 2019",remainingDaysToSecondStep:"2 years",secondStepPassed:!0,currentStepOfPublishingProcess:5,editedByType:null,kuFlag:!1,biosketch:null,coeditorOneBiosketch:null,coeditorTwoBiosketch:null,coeditorThreeBiosketch:null,coeditorFourBiosketch:null,coeditorFiveBiosketch:null,editors:[{id:"203520",title:"Dr.",name:"Eleni",middleName:null,surname:"Papakonstantinou",slug:"eleni-papakonstantinou",fullName:"Eleni Papakonstantinou",profilePictureURL:"https://mts.intechopen.com/storage/users/203520/images/system/203520.jpg",biography:"Dr. med. Eleni Papakonstantinou is a Doctor of Medicine graduate and board certified Dermatologist-Venereologist. She studied medicine at the Aristotle University of Thessaloniki, in Greece and she continued with her dermatology specialty in Germany (2012-2017) at the University of Magdeburg and Hannover Medical School, where she completed her dissertation in 2016 with research work on atopic dermatitis in children. During this time she gained wide experience in the whole dermatological field with special focus on the diagnosis and treatment of chronic inflammatory skin diseases and also the prevention and treatment of melanocytic and non-melanocytic skin tumors. Her research interests were beside atopic dermatitis and pruritus also the pathophysiology of blistering dermatoses. In addition to lectures at german and international congresses, she has published several articles in german and international journals and her work has been awarded with various prizes (poster prize of the German Dermatological Society for the project: 'Bullous pemphigoid and comorbidities' (DDG Leipzig 2016), 'Michael Hornstein Memorial Scholarship' (EADV Athens 2016), travel grant (EAACI Vienna 2016). Since 2017, she works as a specialist dermatologist in private practice in Dortmund, in Germany. Parallel she co-administrates an international dermatologic network, Wikiderm International and she writes a dermatology public guide for patients, as she is convinced that evidence-based knowledge has to be shared not only with colleagues but also with patients.",institutionString:"Private Practice, Dermatology and Venereology",position:null,outsideEditionCount:0,totalCites:0,totalAuthoredChapters:"1",totalChapterViews:"0",totalEditedBooks:"0",institution:null}],coeditorOne:null,coeditorTwo:null,coeditorThree:null,coeditorFour:null,coeditorFive:null,topics:[{id:"16",title:"Medicine",slug:"medicine"}],chapters:null,productType:{id:"1",title:"Edited Volume",chapterContentType:"chapter",authoredCaption:"Edited by"},personalPublishingAssistant:{id:"270941",firstName:"Sandra",lastName:"Maljavac",middleName:null,title:"Ms.",imageUrl:"https://mts.intechopen.com/storage/users/270941/images/7824_n.jpg",email:"sandra.m@intechopen.com",biography:"As an Author Service Manager my responsibilities include monitoring and facilitating all publishing activities for authors and editors. From chapter submission and review, to approval and revision, copyediting and design, until final publication, I work closely with authors and editors to ensure a simple and easy publishing process. I maintain constant and effective communication with authors, editors and reviewers, which allows for a level of personal support that enables contributors to fully commit and concentrate on the chapters they are writing, editing, or reviewing. I assist authors in the preparation of their full chapter submissions and track important deadlines and ensure they are met. I help to coordinate internal processes such as linguistic review, and monitor the technical aspects of the process. As an ASM I am also involved in the acquisition of editors. 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Venkateswarlu",coverURL:"https://cdn.intechopen.com/books/images_new/371.jpg",editedByType:"Edited by",editors:[{id:"58592",title:"Dr.",name:"Arun",surname:"Shanker",slug:"arun-shanker",fullName:"Arun Shanker"}],productType:{id:"1",chapterContentType:"chapter",authoredCaption:"Edited by"}},{type:"book",id:"878",title:"Phytochemicals",subtitle:"A Global Perspective of Their Role in Nutrition and Health",isOpenForSubmission:!1,hash:"ec77671f63975ef2d16192897deb6835",slug:"phytochemicals-a-global-perspective-of-their-role-in-nutrition-and-health",bookSignature:"Venketeshwer Rao",coverURL:"https://cdn.intechopen.com/books/images_new/878.jpg",editedByType:"Edited by",editors:[{id:"82663",title:"Dr.",name:"Venketeshwer",surname:"Rao",slug:"venketeshwer-rao",fullName:"Venketeshwer Rao"}],productType:{id:"1",chapterContentType:"chapter",authoredCaption:"Edited by"}},{type:"book",id:"4816",title:"Face Recognition",subtitle:null,isOpenForSubmission:!1,hash:"146063b5359146b7718ea86bad47c8eb",slug:"face_recognition",bookSignature:"Kresimir Delac and Mislav Grgic",coverURL:"https://cdn.intechopen.com/books/images_new/4816.jpg",editedByType:"Edited by",editors:[{id:"528",title:"Dr.",name:"Kresimir",surname:"Delac",slug:"kresimir-delac",fullName:"Kresimir Delac"}],productType:{id:"1",chapterContentType:"chapter",authoredCaption:"Edited by"}}]},chapter:{item:{type:"chapter",id:"39700",title:"Feasibility Study of a Passive Magnetic Bearing Using the Ring Shaped Permanent Magnets",doi:"10.5772/51347",slug:"feasibility-study-of-a-passive-magnetic-bearing-using-the-ring-shaped-permanent-magnets",body:'Magnetic bearings can suspend rotating bodies without any mechanical contact. They have advantages such as beingfree ofdust, noise, vibration and maintenance. Some magnetic bearings are already in commercial use in specific apparatuses such as high vacuum pumps or contamination free applications [1]. However, the high cost of the control apparatus for five degrees of freedom of the rotor prevents their wide application at present. It is thus necessary to develop a low-cost magnetic bearing system.
The authors have previously reported on the characteristics of the magnetic force acting between a couple of permanent magnets [2]. A magnetic top, consisting of a couple of ring-shaped permanent magnets, can be levitated without any control while maintaining rotation by itself. This fact suggests that the magnetic top may be apotential candidate for a passive magnetic suspension system. Several efforts have been made to explain the levitation mechanism of the magnetic top. San Miguel proposed noble analytical method with complex formulas showing that a magnetic top can maintain levitation if it rotateswith slight precession [3].
In this chapter, an intuitive and easy analytical method based on the equivalent coil currents model for a ring-shaped permanent magnet is proposed.
A quasi-three-dimensional analysis, in which the three-dimensional shapes and layout of the ring-shaped permanent magnets are considered to estimate the magnetic forces acting on the levitating permanent magnet, is proposed. The principle of levitation of the magnetic top and the dimensions of the permanent magnets to realise levitation are discussed using the two-dimensional equations of motion for the magnetic top.
Furthermore, simulations based on the three-dimensional equations of motion are performed to investigate the dynamic behaviour of the magnetic top. The simulated results well predict the dynamic behaviour observed in the experiments. The simulations based on the three-dimensional analysis are used to investigate the effects of the key parameters on the levitating characteristics, such as the sizes of both the ground and rotating permanent magnets, mass of the levitating top, tilt angle of the levitating top, rotation speed and initial position related to the restoring centre.
The ability and feasibility of the magnetic top as a magnetic bearing are also discussed.
The magnetic top is composed of a couple of ring-shaped permanent magnets magnetised in the axial direction, as shown in Figure 1. The magnetic top, equipped with a smaller ring-shaped permanent magnet (a rotor magnet), can be levitated in the magnetic field generated by the larger ring-shaped permanent magnet (a stator magnet) situated at its base, if it can maintain its rotation within a certain speed range. The levitating height is determined by the shapes and magneto-motive forces of the permanent magnets. The authors propose two types of analytical methods: (1) a quasi-three-dimensional analysis to investigate the principle of levitation and the design parameters of the permanent magnets and (2) a three-dimensional dynamic analysis to simulate the behaviour of the levitating magnetic top. The ring-shaped permanent magnet is approximated to the equivalent coil currents model in both the analytical methods.
In the equivalent coil currents approximation, a ring-shaped permanent magnet, magnetised in the axial direction, is assumed to exist by the set of circular coil currents located at the outer and inner side surfaces of the ring-shaped permanent magnet [4]. The directions of currents in the outer and inner equivalent coils are inversed with each other, describing the axial magnetization of the permanent magnet, as shown in Figure 2. The magnitude of these equivalent side currents is determined so as to coincide with the measured magnetic field density at the pole surface of the permanent magnet in relation to the number of the assumed equivalent coils.
Figure 3 shows the analytical model based on the equivalent side currents model. The outer and inner diameters and the height of the ring-shaped permanent magnets are represented as dso, dsi and hs for the stator magnet and dro, dri and hr for the rotor magnet, respectively. The angle θ is the tilt angle of the rotor magnet. The origin is set at the centre of the stator magnet. The stator magnet is located in the horizontal x–y plane and z-axis is set as the vertical direction along the axis of the stator magnet. The numbers of the equivalent side currents in both the rotor and stator magnets, indicated as one and three in Figure 3, are decided considering both the accuracy of the calculated results and the required time for computation.
Magnetic force acting on a magnetic top can be estimated by the interaction between the magnetic field generated by the stator magnet and the equivalent coil currents of the rotor magnet. In an analysis based on the equivalent side currents approximation, magnetic forces acting on the magnetic top can be estimated by integrating magnetic forces acting between equivalent coil currents in the rotor and stator magnets.
The magnetic force df [N] acting between two current elements dl1 [m] and dl2 [m] and two transporting currents I1 [A] and I2 [A] is estimated by the following Biot-Savart’s equation:
where r [m] is the distance between the two current elements and φ [rad] is the angle between the directions of the current elements.
Then, the magnetic force f [N] acting between two ring-shaped coil currents is estimated by integrating Equation (1) along the coil sides of the two coil currents l1 and l2 as follows:
The magnetic forces acting on the rotor magnet are estimated by integrating Equation (2) for the equivalent side currents. The x, y and z components of the magnetic forces acting on the rotor magnet Fx, Fy and Fz are estimated based on Equation (2).
Experimental magnetic top.
Equivalent side currents.
Analytical model.
Because an ideal magnetic top is considered to levitate and rotate around the z-axis, basic information can be obtained by a simple discussion on the two-dimensional motion of the magnetic top in the vertical plane including the z-axis. Hence, the authors propose the quasi-three-dimensional analysis in which the magnetic force acting on the rotor magnet is estimated using Equations (1) and (2), considering the circular shapes and layout of the equivalent coil currents. The behaviour of the levitating magnetic top in z–x plane is estimated by the following two-dimensional equations of motion for the rotor magnet:
where Fx and Fz [N] are the magnetic forces acting on the rotor magnet in x and z directions, respectively, m [kg] is the mass of the magnetic top, g [m/s2] is the acceleration due to gravity and (x, z) are the coordinates of the centre of the rotor magnet. Here, Equation (4) indicates that the vertical acceleration is derived from the difference between the vertical component of the magnetic force due to the stator magnet and the gravity force acting on the rotor magnet.
The quasi-three-dimensional analysis is used to investigate the principle of levitation of the magnetic top and determine with a short computing time the parameters of the magnetic top such as the sizes of the stator and rotor magnets and the levitation height.
Because the quasi-three-dimensional analysis provides the design parameters of a magnetic top, behaviour of the magnetic top is investigated by a simulation based on three-dimensional dynamic analysis considering rotation of the magnetic top. Behaviour of the magnetic top can also be estimated by the equations of motion on the angular moment of the rotor magnet, considering three-dimensional layout of the stator and rotor magnets, the tilt angle of the rotor magnet and the mechanical inertia of the rotor magnet.
When the magnetic top is rotating, the angular momentum force ITop will act around the axis of the rotating magnetic top. The momentum force ITopcan be expressed as Equation (5), where m is the mass of the levitating magnetic top, rro and rri are the outer and inner radius of the ring-shaped rotor magnet. Angular momentum vector around the axis of the rotating magnetic top Ln at a time tn can be expressed as Equation (6), where ω is the angular velocity of the magnetic top. The incremental angular momentum
Angular momentum of a top
The moment
where h is the incremental time. In this analysis, the aerodynamic damping effects are neglected for easy calculation.
To investigate levitation characteristics intuitively, the authors have proposed a so-called ‘magnetic force map’ that shows the magnetic force acting on the rotor magnet at each mesh point in the magnetic field generated by the stator magnet. Magnetic forces at the mesh points above the stator magnet are shown in the vector diagram. Because the vertical component of the magnetic force is deducted by the weight of the levitating top, we can observe the net force acting on the top at a glance.
Table 1 shows the parameters of the analytical model used in this chapter. These parameters are for the experimental model introduced in Figure 1. The magnitude of current in each equivalent side current is determined to be equal to the magnetic field density at the surface of the permanent magnets and the measured values for the ferrite permanent magnets used in the experiments. Considering the thickness of the permanent magnets, the number of the equivalent current coils is set to be 2 for the rotor magnet and 24 for the stator magnet in the simulation. Each circular coil current is simulated as a set of 72 linear current elements. These parameters are determined considering the accuracy of calculated results and the required time for computation.
Rotor magnet | Stator magnet | |
Outer diameter do [mm] | 30 | 134 |
Inner diameter di [mm] | 12 | 75 |
Thickness h [mm] | 5 | 60 |
Magnitude of equivalent current Ieq [A/mm] | 286 | 286 |
Mass m [g] | 20.37 | - |
Tilt angle θ [deg] | - | 1 |
No. of equivalent coils | 2 | 24 |
No. of current elements in an equivalent coil | 72 | 72 |
Parameters used in simulation
Figure 5 shows the magnetic force map calculated for the parameters given in Table 1. The figure shows the distribution of the magnetic force acting on the rotor magnet at each mesh point in the vertical plane including the z–x plane. Although the magnetic force map displays the force distribution in a two-dimensional plane, the magnetic forces are calculated considering three-dimensional shapes and layout of the equivalent side currents.
Figure 5(a) shows the magnetic force map in case the tilt angle of the rotor magnet is zero, that is, the rotor magnet is laid out horizontally in the area above the stator magnet. This figure shows that the force distribution is not uniform in the space above the stator magnet. There are two singular points along the z-axis: points A (0, 99.5) and B (0, 91.5) (Figure 5(a)). At point A, the magnetic forces acting on the rotor magnet are stable in the vertical direction but unstable in the horizontal direction. On the contrary, at point B, the magnetic forces acting on the rotor magnet are unstable in the vertical direction but stable in the horizontal direction. These results show that the magnetic top cannot levitate when its axis is parallel to the vertical axis; this result accords with the Earnshaw’s theorem.
Figure 5(b) shows the magnetic force map when the tilt angle of the rotor magnet θ is set to 1° in x< 0 to −1° in x> 0. This figure shows that there is a point where the magnetic forces acting on the rotor magnet are stable in the both horizontal and vertical directions, as shown by the point C (0, 99.5) in Figure 5(b). In other words, the magnetic forces will guide the rotor magnet to the equilibrium point C, named as the ‘restoring centre’ in this chapter.
The quasi-three-dimensional analysis shows that there is no restoring centre when the tilt angle of the rotor magnet is 0, but a slight tilt angle such as 1° brings the restoring centre into existence. These results suggest that a magnetic top equipped with a ring-shaped permanent magnet can levitate in the space above a stator ring-shaped permanent magnet if it rotates with a slight precession.
Magnetic force map for different tilt angles θ of a levitating magnetic top.
To confirm the validity and effectiveness of quasi-three-dimensional analysis using the magnetic force map, dynamic behaviour of the rotor magnet is investigated by computer simulation based on the equations of motion introduced in the previous section. To make intuitive discussions, a dynamic simulation using two-dimensional equations of motion, Equations (3) and (4), is performed. In this simulation, the tilt angle of the rotor magnet is set to θ= 1° in the area x < 0 and to −1° in the area x > 0.
Figure 6 shows the simulated behaviour of the centre of the rotor magnet for 10 s starting from the point (1, 98.5), which is 1 mm apart in both x and z directions from the restoring centre (0. 99.5). The simulated time trajectory of the centre of the rotor magnet (Figure 6(a)) shows that the rotor magnet levitates in the area of ±1 mm in both vertical and horizontal directions from the restoring centre. The bottom left point of this rectangular space is the initial position of the rotor magnet. These results tell us that the magnetic top is swaying around the restoring centre and the range of swaying motion is determined by the initial position of the magnetic top with regard to the restoring centre. Figures 6 (b) and (c) show the time dependencies of radial and vertical motions of the centre of the rotor magnet. From these figures, we find that the frequencies of radial and vertical motions are 1.45 Hz and 1.13 Hz, respectively.
Simulated behaviour of the centre of the rotor magnet based on two-dimensional analysis.
To verify the validity of the above analytical results, experiments are performed using the test model. The dimensions of the rotor and stator magnets used in the test model are listed in Table 1. The weight of the top is adjusted to 20.37 g using a dummy weight. Behaviour of the levitating magnetic top is recorded using a video camera from the y direction. The levitation height of the centre of the rotor magnet is about 100 mm above the centre of the stator magnet. The digital image information is obtained using motion capture software ‘Pv Studio 2D demo’ and the software ‘Graph Scan 1.8’ are used to obtain Figure 7. The frame size and frame interval of the obtained video data are 640 × 480 pixels and 30 flames per second. However, finally obtained frame interval using the above software is 4 frames per second.
Measured behaviour of the magnetic top in the test model.
Experiment is performed according to the following steps : (1) place a non-magnetic plate on the pole surface of a stator magnet, (2) rotate a magnetic top on the plate at the centre of a stator magnet, (3) lift the plate with rotating top slowly until a magnetic top is pulled into the restoring centre. There are some hurdles to clear these steps. A magnetic top should be rotate at the exact centre of the stator magnet in a certain rotating speed range to clear step (2). Lift force should be less than vertical magnetic force acting on a top from the stator magnet to clear step (3). A magnetic top is rotated by fingers and the plate is lifted by hand in our experiment. Then, it is difficult to obtain experimental data of the same conditions.
Figure 7 shows the measured trajectory of the centre of the rotor magnet for 15 s. In Figure 7, the origin of x and z coordinates is the centre of the picture captured by the camera. In Figure 7(a), dots indicate the positions of the rotor magnet centre measured every 0.25 s, i.e. 4 frames per second, and a smoothing line connects these dots in sequential order. The smoothing line in Figure 7(a) does not show the swaying motion correctly; however, we can observe that the rotor magnet levitates and sways in the range of ±3 mm in radial direction and ±2.3 mm in vertical direction. In the experiment, it is difficult to start rotation of the magnetic top at the designated initial point. Figure 7(a) suggests that the initial positions of the rotor magnet in this experiment were 3 mm and 2.3 mm apart from the restoring centres in x and z directions, respectively. Figures 7 (b) and (c) demonstrate the time dependence of the radial and vertical motions in 15 s. These figures show that the frequencies of swaying motion are about 0.75 Hz in radial direction and about 1.05 Hz in vertical direction. These test results are compared to the calculated ones in Table 2.
Measured | Calculated | |
Levitation height [mm] | 100 | 99.5 |
Frequency of radial swaying [Hz] | 0.75 | 1.45 |
Frequency of vertical swaying [Hz] | 1.05 | 1.13 |
Comparison between analysis and experimental data
In spite of low accuracy of the measured data and difficulties in reenacting experiments in the same condition, the analysed levitation height and the frequency of vertical swaying are well in accordance with the experimental values. However, the analysed frequency of radial swaying is about twice the experimental value. This difference seem to be derived from assumptions in the two-dimensional analysis such as the constant tilt angle of the rotor magnet. Simulated results for various tilt angles showed that the magnitude of the tilt angle significantly affects the radial motion, but does not affect the vertical motion of the rotor magnet. Furthermore, the analysis is based on two-dimensional equations of motion, and three-dimensional behaviour of the magnetic top in the experiment is measured as two-dimensional video information.
These results show that the fundamental parameters of a magnetic top, such as levitation height and dimensions of the permanent magnets, can be determined well using the quasi-three-dimensional analysis.
Figure 8 shows the magnetic force map for the test model shown in Table 1. The tilting angle of the rotor magnet is set as ±1°. This figure shows that a tilting magnetic top, located within the red dotted lines and named as the ‘levitating area’, will be guided by the magnetic force along the direction of vectors towards the restoring centre A (0, 0, 99.5). Although the levitating area is shown as a two-dimensional area in this figure, the real shape of the levitating area is conic.
The size and shape of the levitating area are closely related to the dimensions of the permanent magnets and the tilting angle of the rotor magnet. Figure 9 shows the relationship between the shape and size of the levitating area and the parameters of the permanent magnets. The effects of precession are considered to set the tilt angle θto −1° in x > 0 and to 1° in x < 0. The conical shape of the levitating area is approximated by the rectangular area bounded by the green coloured dotted line in Figure 8 [5].
Levitating area of a magnetictop tilted by 1°.
Figure 9(a) shows the levitating areas and the restoring points for the various inner diameters of the rotor magnet dri. When the inner diameter of the rotor magnet increases, the restoring point becomes higher and the levitating area becomes narrower in the radial direction and wider in the thrust direction. These results indicate that relatively well radial bearing characteristics can be obtained by a rotor magnet with a large inner diameter. On the contrary, relatively well thrust bearing characteristics can be obtained by a rotor magnet with a smaller inner diameter.
Relationship between the shape and size of the levitating area and the parameters of the permanent magnets.
Figure 9(b) shows the levitating areas and the restoring points in the case where the outer diameter of the rotor magnet dro changes. When the outer diameter of the rotor magnet increases, the restoring point becomes higher and the levitating area becomes narrower in the radial direction and wider in the thrust direction. These results state that relatively well radial bearing characteristics can be obtained by a rotor magnet with a large outer diameter. On the contrary, relatively well thrust bearing characteristics can be obtained by a rotor magnet with a smaller outer diameter.
Figure 9(c) shows the levitating areas and the restoring points in case where the inner diameter of the stator magnet dsi changes. When the inner diameter of the stator magnet increases, the restoring point becomes lower and the levitating area becomes wider in the radial direction and narrower in the thrust direction. These results show that relatively well radial bearing characteristics can be obtained by a stator magnet with a smaller outer diameter. On the contrary, relatively well thrust bearing characteristics can be obtained by a stator magnet with a larger outer diameter.
Figure 9(d) shows the levitating areas and the restoring points in the case where the outer diameter of the stator magnet dso changes. When the outer diameter of the stator magnet increases, the restoring point becomes higher and the levitating area becomes narrower in the radial direction. The outer diameter of the stator magnet hardly affects the axial height of the levitating area. These results indicate that relatively well radial bearing characteristics can be obtained by a stator magnet with a large outer diameter. The thrust bearing characteristics are not changed by the outer diameter of the stator magnet.
As mentioned in the previous section, the tilting of a rotor magnet is essential in a magnetic top. In this section, relations between the shapes of the levitating area and the tilt angle of the rotor magnet are discussed.
Figure 10 shows the magnetic force map with levitating areas for different tilt angles of the rotor magnet. Figure 10(a) shows the magnetic force map when the tilt angle of the rotor magnet is zero. The magnetic forces acting on the rotor magnet are stable in the vertical direction but unstable in the radial direction at the upper singular point (0, 99.5). On the contrary, the magnetic forces acting on the rotor magnet are unstable in the vertical direction but stable in the radial direction at the lower singular point (0, 91.5). In this case, there is no levitating area because there is no restoring centre.
Figure 10(b) shows the magnetic force map when the tilt angle of the rotor magnet is θ = 0.4°, i.e.θ = 0.4 in the area x < 0 and θ = −0.4 in the area x > 0. Figures 10(c) and (d) show the magnetic force maps when the tilt angle of the rotor magnet is θ = 0.8° and θ = 1.2°, respectively. Figures 10 and 8, showing the case of θ = 1.0°, illustrate the fact that the levitating area becomes wider when the tilt angle becomes larger up to 1.2°, while the magnitude of restoring force around the restoring centre becomes saturated. We can intuitively observe considering the behaviour of a normal top that a magnetic top with a very large tilting angle will not levitate. Figure 10 also shows that the height of the restoring centre does not change by the tilt angle of the rotor magnet.
Relationship between the levitating area and the tilt angle of the rotor magnet.
We can obtain approximate guidelines for the size and shape of the levitating area by quasi-three-dimensional analysis. Although the static analysis gives the ‘levitating area’, a magnetic top in this area may not always continue to levitate, considering the dynamic motion of the top. Furthermore, the static analysis mentioned in the previous section showed that the magnitude of the restoring force acting on the rotor magnet was small. Because the quasi-three-dimensional static analysis provides an approximate design of the magnetic top, the three-dimensional dynamic analysis should be performed to confirm whether the rotating magnetic top can maintain levitation.
In this section, how the parameters such as rotating speed, mass of the top and initial position with regard to the restoring centre affect the behaviour of the levitating magnetic top is discussed.
To realise a successful rotation of a magnetic top, the rotation speed is one of the most important parameters. Simulated results show that the magnetic top (Table 1) can maintain levitating while it rotates in the range of 18–50 rps, i.e. 1,080–3,000rpm, when the initial position is 1 mm apart in both radial and vertical directions from the restoring centre.
Figures 11(a) and (b) show the trajectories of the centre of the magnetic top rotating at 1020 rpm and 3240 rpm, respectively.This characteristic is closely related to the tilt angle of the rotor magnet, that is, the rotor magnet with the shaft rotating at very low speed cannot maintain an adequate tilt angle because of the lack of mechanical inertia and the rotor magnet with the shaft rotating at a very high speed cannot maintain its tilt angle stable because of the increasing centrifugal force.
Figure 12 shows the typical time dependency of the tilt angle of the rotor magnet. The tilt angle in this figure indicates the absolute values, i.e. the rotor magnet is tilting in a radial direction around z-axis. As shown in this figure, the tilt angle θ varies within 1.2° while the rotor magnet levitates with precession, as in this case. The maximum value of the tilt angle increases with increase in the rotation speed of the rotor magnet, as shown in Figure 13. In this analytical model, the gravity centre of the magnetic top is located at a little upper point along its shaft from the centre of the rotor magnet; therefore, the tilt angle becomes larger with an increase in the rotating speed. Then, the rotor magnet will be thrown in the radial direction, along the magnetic force vectors shown in Figure 10(a). If we design a magnetic top with the gravity centre located at the centre of the rotor magnet, the rotor magnet will rotate without tilting because of its mechanical inertia; however, such a rotor magnet cannot realise levitation, according to previous discussions.
Figure 14 shows the simulated trajectories of a levitating magnetic top rotating at 1,080 rpm for 60 s after starting from point (1, 0, 98.5),which is 1 mm apart from the restoring centre in both x and z directions.Figures 14(a) and (b) show the trajectories of the head of the 25 mm long shaft of the magnetic top and Figures 14(c) and (d) show the trajectories of the centre of the rotor magnet. Figures 14(a) and (b) show that the shaft head rotates with both smaller radius nutation and larger radius precession. On the other hand, Figures 14(c) and (d) show that the centre of the rotor magnet rotates with precession when the tilt angle varies periodically. Comparing these two figures, it is observed that a magnetic top, rotating at a low speed such as 1,080 rpm, is rotating in a complex motion with nutation mode in addition to precession mode [6].
Trajectories of the magnetic top for 5 s.
Time dependency of the tilt angle of the rotor magnet.
The maximum tilt angle θ vs. rotating speed.
Figure 15 shows the simulated trajectories of a levitating magnetic top rotating at 3,000 rpm for 60 s after starting at point (1, 0, 98.5).Figures 15(a) and (b) show the trajectories of the head of the 25 mm long shaft of the magnetic top and Figures 15(c) and (d) show the trajectories of the centre of the rotor magnet. From these figures, we can observe that both the trajectories of the shaft head and the centre of the rotor magnet are almost the same in shape. However, the shaft head rotates in a little wider range compared to the moving area of the centre of the rotor magnet. This means that a magnetic top rotating at a relatively higher speed, e.g. 3,000 rpm, maintains its levitation with precession mode. In this case, nutation mode is hardly observed.
Although it is difficult to repeat the experiments in the same conditions, these simulated results showed good accordance with the experiments [6].
Simulated trajectories of the levitating magnetic top rotating at 1,080 rpm.
Simulated trajectories of the levitating magnetic top rotating at 3,000 rpm.
In this section, the effects of the mass of a levitating top and the thickness of the stator magnet to the height of the restoring centre are discussed.
Figure 16 shows the relationship between the height of the restoring centre zr [mm] and the mass of a levitating top m [g] when the thickness of the stator magnet is h = 60, 40 and 20 mm. Calculated results show that the height of the restoring centre zr decreases with an increase in the mass of the top and a decrease in the thickness of the stator magnet.
Calculations were made for various values of the mass of the top in the analytical model described in Table 1. However, there is no restoring centre or levitation area for a heavier or a lighter top than those shown in Figure 16. According to these results, a thin stator magnet may realise successful levitation for wider mass variations.
Height of the restoring centre vs. mass of levitating top.
Some experiments demonstrated that the initial position related to the restoring centre is one of the most important parameters. To realise successful rotation of a magnetic top, the initial position should be at least inside the levitating area defined in the previous section. The magnetic top shows various behaviours according to its initial point with regard to the restoring centre.
Figure 17 shows the simulated trajectory of the centre of the rotor magnet for 60 s starting from (1, 0, 98.5), which is 1 mm apart in both x and z directions from the restoring centre. The mass of the top is 20.37 g and rotation speed is 23 rps, i.e. 1380 rpm. These results show that the rotating top is levitated in the area of ±1.6 mm in both x and y directions and of ±1 mm in z direction, from the restoring centre. The maximum tilt angle is 1.26° with the z-axis.
To investigate the effects of the initial point with regard to the restoring centre (0, 0, 99.5), simulations were performed for the case of the typical initial point of (1, 0, 99.5), i.e. 1 mm apart in x direction from the restoring centre, and (0, 0, 98.5), i.e. 1 mm apart in z direction from the restoring centre. Figures 18(a) and (b) show the simulated trajectories of the centre of the rotor magnet, rotating at 1,380 rpm for 60 s starting from (1, 0, 99.5) and (0, 0, 98.5), respectively.
The magnetic top, starting from the point 1 mm apart in x direction from the restoring centre, levitates in the range of ±1.07 mm in both x and y directions and from +0.12 mm/ to 0.06 mm in z direction around the restoring centre, as shown in Figure 18(a). The maximum tilt angle is 1.018°.
Simulated trajectories of a magnetic top in 60 s starting from (1, 0, 98.5), 1380 rpm.
Trajectories of the centre of the rotor magnet in z–x plane.
Trajectories of the rotor magnet centre for 60 s starting from the restoring centre (0, 0, 99.5)
In contrast, the magnetic top, starting at the point 1 mm apart in z direction from the restoring centre, levitates in the range of ±0.002 mm in both x and y directions and ±1 mm in z direction around the restoring centre, as shown in Figure 18(b). The maximum tilt angle is 0.001165°.
Figure 19 shows the simulated trajectory of the centre of the rotor magnet, rotating at 1,380 rpm for 60 s starting from the restoring centre (0, 0, 99.5). In this case, a magnetic top levitates in the area of ±0.0003 mm in x–y plane and +0.016 mm/−0.003 mm in z direction. These results show that a rotating magnetic top can maintain levitation within several micrometres displacements in both radial and vertical directions.
Thus, the magnetic top has the ability to function as an entirely passive magnetic bearing [7].
In the previous analysis, the aerodynamic effects were neglected to simplify the discussion. If a magnetic top is rotating in air, rotating speed of thetop will decaybecause of the pneumatic resistance acting on the surfaces of the top. In actual, the experiments showed that the rotating speed of the magnetic top decreases as time passes and the attitude of the top changes to a larger precession that leads it to fall down in a few minutes. Because there are no conducting materials in the magnetic top, there is no electrodynamic drag force caused by eddy currents. Hence, the aerodynamic drag force can be considered as the main reason for the decreasing rotation speed. In this section, some simulations are performed based on the equations of motion considering the aerodynamic drag force.
The aerodynamic effects to the behaviour of a rotating magnetic top is estimated as the pneumatic resistance acting on the outer side surface of the magnetic top. Here, the aerodynamic drag effects caused by the pole surfaces of the magnetic top are neglected. The following expressions are added to estimate the aerodynamic effects to the rotating speed of the magnetic top:
where ρ = 1.225 kg/m3 is the density of air, CD is the coefficient of pneumatic resistance, Ar = 2πrroh is the area of the outer side surface of the top and vr = rroω is the velocity of the outer side surface of the rotating top [8].
Simulated trajectory of the levitating magnet centre, initial rotating speed is 1380 rpm.
Time dependence of rotating speed and tilt angle of a levitating magnetic top.
Trajectories of a levitating magnetic top started at 1380 rpm and fall down at 275 s after start.
Figure 20 shows the simulated trajectory of the centre of the levitating magnet starting from 1 mm apart in both x and z directions from the restoring centre. Initial rotation speed is set to be 1,380 rpm. The coefficient of pneumatic resistance CD is set to be 0.5 for Figure 20(a) and 5.0 for Figure 20(b). Figure 20 shows that the magnetic top can levitate for 275 s or 28.4 s, if the coefficient of pneumatic resistance CD is 0.5 or 5.0, respectively. Experiments showed that the magnetic top can be levitated for 3–4 min. Hence, in this study, the coefficient of pneumatic resitance CD is assumed to be 0.5.
Figure 21 shows the time dependence of the rotation speed and the tilt angle of the levitating magnetic top. Figure 21(a) shows that the magnetic top started at 1,380 rpm and maintained levitation till 166 rpm at 275 s.
Figure 21(b) shows the time dependence of the tilt angle of the rotor magnet with respect to z-axis. This figure shows that the tilt angle varies within 1.4° while the top is levitating and indicates that precession is needed to maintain levitation for a magnetic top.
Figure 22 shows the trajectories of the magnetic top at the last 15 s of its levitation. Figures 22(a) and (b) demonstrate the trajectories of the shaft head and the centre of the levitating rotor magnet in its final 15 s levitation. These figures show that the precession quickly becomes larger once the magnetic top exits the levitating area.
A magnetic top levitates by itself, without any active control system, so long as it rotates in a certain speed range. The authors propose a simple and intuitive analysing method to predict characteristics of the magnetic top.
The quasi-three-dimensional static analysis, considering shapes and layout of the ring-shaped rotor and stator magnets, is used to explain the principle of levitation and obtain the preliminary design parameters of the rotor and stator magnets. The behaviour of the magnetic top is also investigated bydynamic simulations based on the three-dimensional equations of motion considering the moment of inertia for the rotating magnetic top. The following results are obtained:
A magnetic top can levitate when it rotates in precession mode with a slight tilting angle and in a certain rotating speed range.
The effects of the parameters, such as outer and inner diameters of the rotor and stator magnets, to the behaviour of the magnetic top can be discussed by the quasi-three-dimensional static analysis.
A magnetic top rotating at a low speed levitates in both precession and nutation modes. On the contrary, a magnetic top rotating at a high speed levitates with precession, and nutation mode is not observed.
The lowest rotation speed is determined to maintain the attitude of the rotating magnet using its mechanical inertia. The maximum rotation speed is limited by the centrifugal force that increases the tilt angle of the shaft of the magnetic top.
A magnetic top starting its rotation at the restoring centre will maintain its position with the accuracy of several micrometres.
It is difficultto repeat experiments of a magnetic top in the same conditions. However, the proposed analytical results showed good accordance with the experimental dataobserved using a digital video camera.
A magnetic top may be used as a rotating demonstration model in which some swaying motion can be permitted such as in toys or other relaxation items. When a magnetic top is used in commercial system, a rotor should be rotated by some non-contact drive mechanism such as electric motor or air turbine, etc. Furthermore, touch down bearing should be equipped to suspend a rotor while rotating speed is out of operating range.Fundamental requirements to design a magnetic bearing based on the principle of a magnetic top will be rotor weight and rotation speed. A rotor shaft should be designed considering mechanical requirements such as torque.
In the experimantal model, because ferrite magnets are used for the rotor and stator magnets, the restoring forces are very small for commercial applications. However, if rare earth permanent magnets and rigid suspension devices are used, sufficient restoring forces may be expected to be generated for use as a commercial passive magnetic bearing.
The authors thank Mr. Makoto Matsumoto, former student of the Graduate school of Natural Science and Technology, Kobe University, for his efforts in establishing simulation tools for analysing the dynamic behaviour of a magnetic top.
In the past, Japanese houses were ridiculed as being “rabbit hutches” as they were smaller in scale, lower in quality, and shorter in average service life than those of Western countries, and examples were often given illustrating Japan as having the worst residential environment among major advanced countries. However, after the period of high economic growth since the chaotic postwar period, this environment has already greatly improved. In recent years high-performance housing stock has accumulated, and housing with functions not found in other countries have become common.
\nNeedless to say, when attempting an analysis of a housing market, it is necessary to fully understand the characteristics of the country. Below, we set out the reasons that have led to the false perception of Japanese housing still belonging to the era when they were ridiculed as rabbit hutches.
\nAlthough commonalities can be found in many parts of the Japanese housing market in comparison with the European and US housing markets, the following heterogeneity is conceivable as the postwar historical origin is different. It is possible that these are the cause of many misunderstandings.
\nIn Japan, many houses were destroyed due to the large-scale air raids during the Second World War, not only in metropolitan areas but also in regional cities. In particular, a large number of houses were destroyed in the Tokyo metropolitan area,1 and very-low-quality houses were built in a disorganized manner to satisfy the urgent housing demand in the chaotic postwar period. In the so-called high economic growth period that began in the mid-1950s, such houses were rapidly upgraded as large numbers of apartment buildings came up throughout Japan.2 In addition, the drastic change in Japanese lifestyle through the rapid economic growth triggered the renewal of old housing stock by Westernizing the traditional housing style of Japan.
\nThe private sector led construction to realize such a large-scale housing supply because the public sector was saddled with the large financial burden of postwar reconstruction. In particular, the government established a personal loan system to promote housing investment by households, and as a result, the ownership rate in postwar Japan significantly increased in comparison to before the war. Furthermore, as the supply of public housing was limited, a dedicated housing market for single-person renters formed in the rental housing market, which was rarely seen in Europe and the United States.
\nAs a result of these short-term housing renewals, Japanese housing was brought into a state where their style, quality, and housing equipment were greatly different depending on the period of construction. In addition, due to natural disasters such as the Great Hanshin earthquake3 and the Great East Japan earthquake,4 housing earthquake resistance and other legal regulations have been successively strengthened, thereby rapidly increasing the performance requirements of housing.5\n
\nThis history is also closely related to the shortness of service life, which is a characteristic of the previously ridiculed Japanese houses. Several reasons can be envisaged to explain the short service life of Japanese houses, but the two most influential factors are considered to be the urgent task of promoting the renovation of low-quality housing stock that was built to temporarily compensate for the housing shortage after the war and the fact that the stock renewal was promoted by strengthening public regulations due to large-scale earthquakes and other disasters.
\nIn addition, the high urban renewal rate can also be cited as a reason. In the rapid economic growth of postwar Japan, the main industrial structure shifted from primary to secondary industry in a single stroke, and urbanization was promoted throughout the country in the 1970s by developing highway and railway networks across the country, known as “Japanese archipelago remodeling.” In the 1980s, a policy was developed to transform the industrial structure, which was centered on secondary industry to tertiary industry. The transformation of Tokyo into an international financial center was a symbolic policy, and against this background, redevelopment rapidly advanced in major cities. Under such circumstances, the conversion of building use of even physically usable housing into offices, commercial facilities, and so on was promoted through rebuilding, and the advancement of land use was promoted [1].
\nAs a result, it can be said that the average service life of housing seen throughout the stock as a whole has been shortened over a long period.
\nIn addition to these features, it should be noted that the speed of technological innovation in Japanese housing is fast. “Technological innovation” here refers not only to the improvement of productivity on the manufacturing side but also the significant improvement of household welfare levels through the release of new products developed by R&D. In recent years, smart houses utilizing IOT and so on have become symbolic of advancing technology, but functions such as TV intercoms, bathroom dryers, system kitchens, and toilets with washlets, which are not often seen in European and American houses, have become common functions in Japanese houses and have greatly improved household living standards.
\nHowever, in a market where products with such new features arrive so quickly, the speed of obsolescence also increases. In these markets, when a new product appears, the old product is ordered to be withdrawn from the market, or its commodity value is greatly depreciated, that is, the service life of products is shortened.
\nThis study aims to measure the economic value of the functions of housing with new quality in the rental housing market in Tokyo, where technological advancement has been the greatest, and to clarify how much economic depreciation is occurring due to obsolescence. In Section 2, we present the model and the framework for empirical analysis together with the data, and in Section 3, we present the estimated results. According to the obtained results, new functions are being added sequentially to Japanese rental housing according to the age of the building, and these functions are non-negligible in the determination of housing rent, even when compared with location (LC) and the building structure (ST). The effect of obsolescence due to the addition of new functions was roughly—5%. In Section 4, we summarize the results by way of a conclusion.
\nA technique known as the hedonic approach is effective to decompose prices of commodities corresponding to different qualities. Since the hedonic approach theoretically depicts the behavior of suppliers and consumers in a market with diverse quality and presents a framework for empirical analysis, it is possible to approximately measure the household limit shadow price for new functions and to identify economic deterioration accompanying obsolescence [2, 3].
\nGenerally, the construction of household selection models in the residential market faces many difficulties compared to regular commodities and service markets. Not only is consumption expenditure high for housing, but consumers are also troubled by its highly nonuniform nature. Even when located in the same place, prices vary depending on the quality of housing, and even if the buildings are of the same quality, prices vary depending on the location. Furthermore, since housing has durability, depreciation has to be taken into consideration.
\nIn such a market, the law of one price assumed by traditional pricing theory cannot be applied. Furthermore, the application of a model that deals with differentiated products as analyzed by Lancaster [4] is not effective both theoretically and in empirical analysis. Accordingly, Rosen [5] theoretically clarified the type of market mechanism that is generated when commodity price data are a bundle of such attributes. Specifically, the relationship between the offer function of the commodity supplier, the bid function of the commodity consumer, and the market price function established by the equilibrium of these is closely examined, and the market price is characterized from the behavior of consumers and producers [6].
\nHowever, when attempting to estimate the hedonic function, we face various difficulties. The first is the existence of unobservable variables, the so-called omitted variable bias problem [7]. In general, in the estimation of a hedonic function for the housing market, only the location and building attributes, which are easy to obtain, are taken into consideration. However, it is also easy to envisage that the actual market price of housing will change depending on the environment surrounding the house and the various kinds of performance of the building.
\nAs for variable selection in the estimation of hedonic functions in Tokyo’s rental housing market, Nishi et al. [8] have conducted an exhaustive survey of the previous research. Nishi et al. [8] pointed that the housing amenities used in hedonic analyses are categorized as “location or accessibility,” “housing features,” and “site advantages.” This paper is focused on housing features, because they can be reflected in the rent due to the technological progress in the information systems and supply management.
\nAccessibility is defined as the “main accessibility related to commuting.” Housing features are defined as “amenities that can be changed by landlords.” Accessibility and housing features are the basic characteristics used as explanatory variables in hedonic models and are widely used in previous studies [2, 6, 9, 10].
\nSite advantages have also been researched recently using variables calculated using geographical information system or GIS [11, 12]. Shimizu [11] demonstrates that the environment surrounding housing is important in the case where house prices are determined by building use conditions and the characteristics of neighboring residents and suggests that in the case such variables are not taken into consideration and the estimated statistics of the hedonic function lack robustness. Nishi et al. [8] also show that there is a similar problem with estimated statistics when housing equipment is not taken into consideration. Fuerst and Shimizu [13] show that in the new condominium market in Tokyo, the offered value for highly novel functionality such as environmental performance differs greatly when taking the household’s annual income into account.
\nAs can be understood from these facts, attention must be given to the kind of variables that are used in estimating the hedonic function. According to Nelson [14], housing characteristics to be considered in function estimation are classified as follows.
\nExcluding characteristics related to traffic convenience, Nelson [14] considers it possible to categorize the positional characteristics of housing into housing equipment and location. Of these, “housing equipment” is variable and depends on the owner of the house, and “location” is an element that cannot be changed. Meanwhile, Chau and Chin [15] and Shimizu [11] add neighborhood characteristics.
\nIn addition to location and building structure, this study classifies housing equipment into equipment ancillary to the room (room equipment (RE)) and to the building (building equipment (BE)) and also takes the conditions of the contract into account to estimate their marginal price effect by estimating the hedonic function and to estimate the extent of obsolescence caused by the appearance of products with new performance.
\nSince the latter half of the 1990s, the use of the Internet for real estate advertising has expanded rapidly in Japan, and websites dealing with a large amount of rental advert data have been developed. This study uses the data on homes managed by LIFULL Co., Ltd. which is a major real estate portal site.6\n
\nMultiple real estate companies post concurrent advertisements for the same property on the real estate website, so we eliminated the duplicates from the data by grouping them by the criteria of address, property name, and room number.7 Furthermore, we independently assigned daytime railway travel time from Tokyo station to the nearest station to the property (minutes), which was not included in the data posted on the portal.
\nSince the aim of this study is to identify the effect due to the addition of new functions over time, we hypothesize that the price structure will change according to the period of construction.8 Data were segmented into the following three stocks:
Old stock: built between 1968 and 1981
Main stock: built between 1982 and 1999
New stock: built between 2000 and 2018
Earthquake resistance standards were greatly revised in 1981 according to the Building Standards Act, which stipulates building quality in Japan, and the earthquake resistance of buildings differs greatly according to whether they were built in or before 1981 or in or after 1982; buildings were therefore categorized using 1981 as a basis. There was also a major change in earthquake resistance standards in 2000, so this was also used as the standard for a category. In addition, the data used are for the 23 wards of Tokyo where a large volume of housing stocks was supplied due to a large population inflow.
\nAs a result of this process, 53,550 data points were acquired as data for analysis.9\n
\nA general hedonic model can be expressed as
\nwhere y is the explanatory variable, p is the housing rent, xi\n is the explanatory variable (housing characteristic), and βi\n and α are the estimation parameters.
\nIn this study, in addition to the commonly used location and building structure, housing equipment was added to the estimation of the hedonic function for the housing market. Specifically, we classified housing equipment into equipment ancillary to the room (room equipment) and equipment ancillary to the building (building equipment) and took the conditions of contract (CC) into account to construct a hedonic function.
\n\nEq. (1) can be rewritten as follows:
\nHere, the actual estimation formula can be expressed as follows:
\nIn Eq. (1), ln pit\n represents the log rent for i property at time t (October 2018). \n
Before analysis, we calculated the descriptive statistics of the data to be analyzed (\nTable 1\n). From the descriptive statistics, there are several features as follows, depending on the period of construction:
There is little difference between old and main stocks in average rent, but it is about 20% higher for new stock than the old stock.
There is no significant difference in the average floor area, the number of minutes by foot from the nearest station, and the number of minutes by train from Tokyo station.
Concerning the years since construction, the average of the total is 18.5 years and the standard deviation is 12.7 years, and the average value and standard deviation by construction date are consistent with the classification.
Variable | \nType | \nMean | \nStd. dev. | \nMin. | \nMax. | \n
---|---|---|---|---|---|
Monthly rent | \nAll | \n94,779 | \n34,873 | \n30,000 | \n249,000 | \n
(JYE) | \nOld stock | \n84,968 | \n30,631 | \n30,000 | \n240,000 | \n
\n | Main stock | \n85,305 | \n32,566 | \n30,000 | \n249,000 | \n
\n | New stock | \n103,040 | \n34,994 | \n45,000 | \n249,000 | \n
\n | New/old | \n121.3% | \n114.2% | \n150.0% | \n103.8% | \n
Floor space | \nAll | \n31.3 | \n13.4 | \n15.0 | \n100.0 | \n
(m2) | \nOld stock | \n32.5 | \n12.4 | \n15.0 | \n91.4 | \n
\n | Main stock | \n32.0 | \n15.3 | \n15.0 | \n100.0 | \n
\n | New stock | \n30.6 | \n12.1 | \n15.0 | \n99.5 | \n
\n | New/old | \n94.3% | \n97.7% | \n100.0% | \n108.9% | \n
Monthly rent/m3\n | \nAll | \n3192 | \n806 | \n988 | \n8134 | \n
(JYE) | \nOld stock | \n2717 | \n668 | \n1076 | \n6528 | \n
\n | Main stock | \n2864 | \n701 | \n988 | \n7535 | \n
\n | New stock | \n3501 | \n766 | \n1165 | \n8134 | \n
\n | New/old | \n128.9% | \n114.8% | \n108.3% | \n124.6% | \n
Age of unit | \nAll | \n18.5 | \n12.7 | \n0.0 | \n50.0 | \n
(year) | \nOld stock | \n42.3 | \n3.8 | \n37.0 | \n50.0 | \n
\n | Main stock | \n27.4 | \n4.4 | \n19.0 | \n36.0 | \n
\n | New stock | \n8.3 | \n5.5 | \n0.0 | \n18.0 | \n
\n | New/old | \n19.7% | \n144.0% | \n0.0% | \n36.0% | \n
Time to the nearest station | \nAll | \n7.7 | \n4.6 | \n0.6 | \n41.0 | \n
(minutes) | \nOld stock | \n7.4 | \n4.4 | \n1.0 | \n41.0 | \n
\n | Main stock | \n8.1 | \n4.8 | \n1.0 | \n40.0 | \n
\n | New stock | \n7.4 | \n4.4 | \n0.6 | \n38.0 | \n
\n | New/old | \n99.4% | \n98.8% | \n62.5% | \n92.7% | \n
Time to Tokyo station | \nAll | \n27.2 | \n8.6 | \n1.0 | \n48.0 | \n
(minutes) | \nOld stock | \n26.5 | \n8.3 | \n4.0 | \n48.0 | \n
\n | Main stock | \n28.8 | \n8.1 | \n4.0 | \n48.0 | \n
\n | New stock | \n26.2 | \n8.8 | \n1.0 | \n48.0 | \n
\n | New/old | \n99.1% | \n105.4% | \n25.0% | \n100.0% | \n
Number of observations (all) = 53,550 | \n
Descriptive statistics.
Based on these features, there is found to be little difference between the physical space distribution due to the period of construction and only the building quality changes.
\nNext, we examined the distribution of old/main/new stock for each of the 23 wards (\nTable 2\n). The ratio of new stock ratio exceeds 70% in Chiyoda, Chuo, and Minato wards, which make up the center of Tokyo. As previously mentioned, the probability of large-scale redevelopment and so on being carried out increases for more urban areas, which may have caused this result due to active stock renewal.10\n
\n\n | Number of observations | \nRatio | \n|||||||
---|---|---|---|---|---|---|---|---|---|
Item | \nTotal | \nOld stock | \nMain stock | \nNew stock | \nTotal | \nOld stock | \nMain stock | \nNew stock | \nNew-old | \n
\nRoom equipment\n | \n|||||||||
Air conditioning | \n49.088 | \n4029 | \n17.883 | \n27.176 | \n91.7% | \n82.8% | \n89.5% | \n94.7% | \n11.9% | \n
Hot water supply | \n44.841 | \n3879 | \n16.961 | \n24.001 | \n83.7% | \n79.7% | \n84.9% | \n83.6% | \n3.9% | \n
Indoor WM area | \n43.954 | \n2663 | \n14.696 | \n26.595 | \n82.1% | \n54.7% | \n73.5% | \n92.7% | \n38.0% | \n
Separate bath and toilet | \n43.943 | \n3447 | \n12.851 | \n27.645 | \n82.1% | \n70.8% | \n64.3% | \n96.3% | \n25.5% | \n
Flooring | \n43.269 | \n3364 | \n14.915 | \n24.990 | \n80.8% | \n69.1% | \n74.6% | \n87.1% | \n18.0% | \n
Balcony | \n40.851 | \n3204 | \n15.276 | \n22.371 | \n76.3% | \n65.8% | \n76.4% | \n77.9% | \n12.1% | \n
System kitchen | \n27.758 | \n1093 | \n5666 | \n20.999 | \n51.8% | \n22.5% | \n28.4% | \n73.2% | \n50.7% | \n
Separate washroom | \n26.292 | \n1412 | \n6221 | \n18.659 | \n49.1% | \n29.0% | \n31.1% | \n65.0% | \n36.0% | \n
1 gas stove | \n25.300 | \n1416 | \n6396 | \n17.488 | \n47.2% | \n29.1% | \n32.0% | \n60.9% | \n31.8% | \n
Washlet | \n23.221 | \n1089 | \n3265 | \n18.867 | \n43.4% | \n22.4% | \n16.3% | \n65.7% | \n43.4% | \n
Bathroom dryer | \n20.322 | \n186 | \n1077 | \n19.059 | \n37.9% | \n3.8% | \n5.4% | \n66.4% | \n62.6% | \n
2 gas stoves | \n18.632 | \n1081 | \n3304 | \n14.247 | \n34.8% | \n22.2% | \n16.5% | \n49.6% | \n27.4% | \n
Reheating bath | \n15.127 | \n1268 | \n3459 | \n10.400 | \n28.2% | \n26.0% | \n17.3% | \n36.2% | \n10.2% | \n
Washroom with shower | \n12.678 | \n364 | \n1764 | \n10.550 | \n23.7% | \n7.5% | \n8.8% | \n36.8% | \n29.3% | \n
Own house rental | \n7187 | \n497 | \n1588 | \n5102 | \n13.4% | \n10.2% | \n7.9% | \n17.8% | \n7.6% | \n
IH stovetop | \n6623 | \n215 | \n2653 | \n3755 | \n12.4% | \n4.4% | \n13.3% | \n13.1% | \n8.7% | \n
Walk-in closet | \n3694 | \n88 | \n235 | \n3371 | \n6.9% | \n1.8% | \n1.2% | \n11.7% | \n9.9% | \n
Counter kitchen | \n3409 | \n70 | \n516 | \n2823 | \n6.4% | \n1.4% | \n2.6% | \n9.8% | \n8.4% | \n
With loft | \n2110 | \n19 | \n754 | \n1337 | \n3.9% | \n0.4% | \n3.8% | \n4.7% | \n4.3% | \n
Underfloor heating | \n1147 | \n8 | \n87 | \n1052 | \n2.1% | \n0.2% | \n0.4% | \n3.7% | \n3.5% | \n
\nBuilding equipment\n | \n\n | \n | \n | \n | \n | \n | \n | \n | \n |
Bicycle parking lot | \n33.795 | \n2096 | \n11.385 | \n20.314 | \n63.1% | \n43.1% | \n57.0% | \n70.8% | \n27.7% | \n
Fiber optic Internet | \n27.307 | \n2085 | \n10.056 | \n15.166 | \n51.0% | \n42.8% | \n50.3% | \n52.8% | \n10.0% | \n
TV intercom | \n26.689 | \n953 | \n4232 | \n21.504 | \n49.8% | \n19.6% | \n21.2% | \n74.9% | \n55.4% | \n
Automatic entrance door | \n26.042 | \n337 | \n5062 | \n20.643 | \n48.6% | \n6.9% | \n25.3% | \n71.9% | \n65.0% | \n
Cable TV | \n23.211 | \n1316 | \n8314 | \n13.581 | \n43.3% | \n27.0% | \n41.6% | \n47.3% | \n20.3% | \n
BS antenna | \n20.013 | \n472 | \n4430 | \n15.111 | \n37.4% | \n9.7% | \n22.2% | \n52.7% | \n43.0% | \n
Elevator | \n19.587 | \n1189 | \n5387 | \n13.011 | \n36.6% | \n24.4% | \n27.0% | \n45.3% | \n20.9% | \n
Tiling wall | \n15.751 | \n561 | \n5265 | \n9925 | \n29.4% | \n11.5% | \n26.3% | \n34.6% | \n23.1% | \n
Delivery locker | \n15.163 | \n119 | \n1550 | \n13.494 | \n28.3% | \n2.4% | \n7.8% | \n47.0% | \n44.6% | \n
Security camera | \n12.694 | \n302 | \n1849 | \n10.543 | \n23.7% | \n6.2% | \n9.3% | \n36.7% | \n30.5% | \n
CS antenna | \n11.888 | \n304 | \n1837 | \n9747 | \n22.2% | \n6.2% | \n9.2% | \n34.0% | \n27.7% | \n
Garbage 24H available | \n6670 | \n130 | \n728 | \n5812 | \n12.5% | \n2.7% | \n3.6% | \n20.3% | \n17.6% | \n
Bike parking lot | \n6335 | \n354 | \n1875 | \n4106 | \n11.8% | \n7.3% | \n9.4% | \n14.3% | \n7.0% | \n
Design by artist | \n4068 | \n29 | \n286 | \n3753 | \n7.6% | \n0.6% | \n1.4% | \n13.1% | \n12.5% | \n
Seismic structure | \n3827 | \n37 | \n702 | \n3088 | \n7.1% | \n0.8% | \n3.5% | \n10.8% | \n10.0% | \n
\nContract conditions\n | \n\n | \n | \n | \n | \n | \n | \n | \n | \n |
with NO guarantor | \n20.257 | \n1214 | \n6274 | \n12.769 | \n37.8% | \n24.9% | \n31.4% | \n44.5% | \n19.6% | \n
No pets | \n8417 | \n733 | \n3540 | \n4144 | \n15.7% | \n15.1% | \n17.7% | \n14.4% | \n-0.6% | \n
NO musical instrument | \n6704 | \n605 | \n2702 | \n3397 | \n12.5% | \n12.4% | \n13.5% | \n11.8% | \n-0.6% | \n
NO office use | \n5253 | \n297 | \n1731 | \n3225 | \n9.8% | \n6.1% | \n8.7% | \n11.2% | \n5.1% | \n
FREE Internet | \n4682 | \n100 | \n616 | \n3966 | \n8.7% | \n2.1% | \n3.1% | \n13.8% | \n11.8% | \n
Pet consultation | \n3906 | \n210 | \n801 | \n2895 | \n7.3% | \n4.3% | \n4.0% | \n10.1% | \n5.8% | \n
Pets allowed | \n2189 | \n150 | \n437 | \n1602 | \n4.1% | \n3.1% | \n2.2% | \n5.6% | \n2.5% | \n
Contract with limited term | \n1673 | \n311 | \n511 | \n851 | \n3.1% | \n6.4% | \n2.6% | \n3.0% | \n-3.4% | \n
Office use allowed | \n1319 | \n362 | \n508 | \n449 | \n2.5% | \n7.4% | \n2.5% | \n1.6% | \n-5.9% | \n
\nBuilding structure\n | \n\n | \n | \n | \n | \n | \n | \n | \n | \n |
Wooden | \n10.851 | \n1285 | \n4273 | \n5293 | \n20.3% | \n26.4% | \n21.4% | \n18.4% | \n-8.0% | \n
Steel frame | \n13.796 | \n891 | \n6044 | \n6861 | \n25.8% | \n18.3% | \n30.2% | \n23.9% | \n5.6% | \n
RC | \n23.654 | \n2074 | \n7635 | \n13.945 | \n44.2% | \n42.6% | \n38.2% | \n48.6% | \n6.0% | \n
SRC | \n3644 | \n599 | \n1626 | \n1419 | \n6.8% | \n12.3% | \n8.1% | \n4.9% | \n-7.4% | \n
Others | \n1605 | \n19 | \n404 | \n1182 | \n3.0% | \n0.4% | \n2.0% | \n4.1% | \n3.7% | \n
\nOthers\n | \n\n | \n | \n | \n | \n | \n | \n | \n | \n |
High-rise block (16F over) | \n387 | \n3 | \n54 | \n330 | \n0.7% | \n0.1% | \n0.3% | \n1.1% | \n1.1% | \n
Room on the first floor | \n13.265 | \n894 | \n5217 | \n7154 | \n24.8% | \n18.4% | \n26.1% | \n24.9% | \n6.6% | \n
Distribution of equipment in old stock, main stock, and new stock.
Outside the three wards of the city center, the ratio of new stock is over 70% in Taito and Sumida wards and over 60% in Koto and Shinagawa wards, but this may be due to the supply of large-scale high-rise condominiums due to the relaxation of regulations in the 1990s. The ratio of new stock in other wards is around 50% (\nTable 3\n).
\nWard | \nOld stock | \nMain stock | \nNew stock | \nTotal | \nOld stock | \nMain stock | \nNew stock | \n
---|---|---|---|---|---|---|---|
Chiyoda | \n39 | \n65 | \n342 | \n446 | \n8.7% | \n14.6% | \n76.7% | \n
Chuo | \n57 | \n117 | \n740 | \n914 | \n6.2% | \n12.8% | \n81.0% | \n
Minato | \n137 | \n182 | \n927 | \n1246 | \n11.0% | \n14.6% | \n74.4% | \n
Shinjuku | \n284 | \n574 | \n1264 | \n2122 | \n13.4% | \n27.0% | \n59.6% | \n
Bunkyo | \n144 | \n379 | \n706 | \n1229 | \n11.7% | \n30.8% | \n57.4% | \n
Taito | \n86 | \n210 | \n796 | \n1092 | \n7.9% | \n19.2% | \n72.9% | \n
Sumida | \n103 | \n348 | \n1077 | \n1528 | \n6.7% | \n22.8% | \n70.5% | \n
Kouto | \n134 | \n454 | \n1056 | \n1644 | \n8.2% | \n27.6% | \n64.2% | \n
Shinagawa | \n190 | \n650 | \n1463 | \n2303 | \n8.3% | \n28.2% | \n63.5% | \n
Meguro | \n134 | \n537 | \n789 | \n1460 | \n9.2% | \n36.8% | \n54.0% | \n
Ota | \n458 | \n2022 | \n3054 | \n5534 | \n8.3% | \n36.5% | \n55.2% | \n
Setagaya | \n494 | \n2605 | \n2450 | \n5549 | \n8.9% | \n46.9% | \n44.2% | \n
Shibuya | \n188 | \n425 | \n908 | \n1521 | \n12.4% | \n27.9% | \n59.7% | \n
Nakano | \n292 | \n996 | \n1367 | \n2655 | \n11.0% | \n37.5% | \n51.5% | \n
Suginami | \n421 | \n1915 | \n1778 | \n4114 | \n10.2% | \n46.5% | \n43.2% | \n
Toshima | \n189 | \n687 | \n1019 | \n1895 | \n10.0% | \n36.3% | \n53.8% | \n
Kita | \n300 | \n797 | \n1061 | \n2158 | \n13.9% | \n36.9% | \n49.2% | \n
Arakawa | \n100 | \n339 | \n582 | \n1021 | \n9.8% | \n33.2% | \n57.0% | \n
Itabashi | \n291 | \n1254 | \n1441 | \n2986 | \n9.7% | \n42.0% | \n48.3% | \n
Nerima | \n243 | \n1639 | \n1796 | \n3678 | \n6.6% | \n44.6% | \n48.8% | \n
Adachi | \n182 | \n1020 | \n1518 | \n2720 | \n6.7% | \n37.5% | \n55.8% | \n
Katsushika | \n177 | \n926 | \n1074 | \n2177 | \n8.1% | \n42.5% | \n49.3% | \n
Edogawa | \n225 | \n1841 | \n1492 | \n3558 | \n6.3% | \n51.7% | \n41.9% | \n
Total | \n4868 | \n19,982 | \n28,700 | \n53,550 | \n9.1% | \n37.3% | \n53.6% | \n
Spatial distribution of rental housing.
\n\nTable 4\n shows the ancillary equipment rate by period of construction. Equipment was classified into that ancillary to the room, ancillary to the building, and conditions of contract.11\n
\nDependent variable | \nln (monthly rent) JPY | \n\n | \n | \n | \n | \n | \n | ||||
---|---|---|---|---|---|---|---|---|---|---|---|
Estimation method | \n\n | OLS | \n|||||||||
Number of observations | \n\n | 53,520 | \n4867 | \n19,975 | \n28,678 | \n\n | |||||
Adj R-squared | \n\n | 0.894 | \n0.853 | \n0.897 | \n0.892 | \n\n | |||||
\nIndependent variables\n | \n\nMark\n | \n\nAll\n | \n\nOld stock\n | \n\nMain stock\n | \n\nNew stock\n | \nNew-old | \n|||||
\nCoef.\n | \n\nP>t\n | \n\nCoef.\n | \n\nP>t\n | \n\nCoef.\n | \n\nP>t\n | \n\nCoef.\n | \n\nP>t\n | \nCoef. | \n|||
Age of unit (year) | \n\n | −0.53% | \n0.00 | \n−0.13% | \n0.01 | \n−0.43% | \n0.00 | \n−0.63% | \n0.00 | \n−0.50% | \n|
Old stock dummy | \n\n | 1.53% | \n0.00 | \n(Omitted) | \n(Omitted) | \n(Omitted) | \n− | \n||||
Main stock dummy | \n−0.54% | \n0.01 | \n(Omitted) | \n(Omitted) | \n(Omitted) | \n− | \n|||||
New stock dummy | \nBaseline | \n(Omitted) | \n(Omitted) | \n(Omitted) | \n− | \n||||||
Floor space (m2) | \n\n | 1.69% | \n0.00 | \n1.60% | \n0.00 | \n1.61% | \n0.00 | \n1.73% | \n0.00 | \n0.13% | \n|
Time to Tokyo station (minutes) | \n−0.70% | \n0.00 | \n−0.67% | \n0.00 | \n−0.77% | \n0.00 | \n−0.64% | \n0.00 | \n0.03% | \n||
Time to the nearest station (minutes) | \n−0.62% | \n0.00 | \n−0.53% | \n0.00 | \n−0.61% | \n0.00 | \n−0.64% | \n0.00 | \n−0.11% | \n||
Building | \nWooden | \n\n | Baseline | \nBaseline | \nBaseline | \nBaseline | \n− | \n||||
Structure | \nSteel frame | \n4.28% | \n0.00 | \n7.22% | \n0.00 | \n3.67% | \n0.00 | \n3.51% | \n0.00 | \n−3.71% | \n|
\n | RC | \n\n | 9.26% | \n0.00 | \n13.04% | \n0.00 | \n8.41% | \n0.00 | \n8.17% | \n0.00 | \n−4.87% | \n
\n | SRC | \n\n | 10.75% | \n0.00 | \n13.10% | \n0.00 | \n9.72% | \n0.00 | \n8.99% | \n0.00 | \n−4.11% | \n
\n | Others | \n\n | 4.01% | \n0.00 | \n6.83% | \n0.11 | \n4.20% | \n0.00 | \n3.25% | \n0.00 | \n−3.58% | \n
Wards | \nChiyoda | \n\n | −1.44% | \n0.01 | \n8.72% | \n0.00 | \n3.21% | \n0.03 | \n−3.03% | \n0.00 | \n−11.75% | \n
\n | Chuo | \n\n | −3.77% | \n0.00 | \n0.14% | \n0.94 | \n−2.84% | \n0.01 | \n−4.29% | \n0.00 | \n−4.43% | \n
\n | Minato | \n\n | 12.01% | \n0.00 | \n17.08% | \n0.00 | \n11.20% | \n0.00 | \n10.75% | \n0.00 | \n−6.34% | \n
\n | Shinjuku | \n\n | 0.54% | \n0.07 | \n3.46% | \n0.00 | \n0.15% | \n0.77 | \n−0.54% | \n0.14 | \n−4.00% | \n
\n | Bunkyo | \n\n | −5.38% | \n0.00 | \n−4.39% | \n0.00 | \n−5.82% | \n0.00 | \n−5.52% | \n0.00 | \n−1.13% | \n
\n | Taito | \n\n | −14.43% | \n0.00 | \n−12.95% | \n0.00 | \n−14.68% | \n0.00 | \n−14.73% | \n0.00 | \n−1.78% | \n
\n | Sumida | \n\n | −15.60% | \n0.00 | \n−15.02% | \n0.00 | \n−14.04% | \n0.00 | \n−16.21% | \n0.00 | \n−1.19% | \n
\n | Koto | \n\n | −13.38% | \n0.00 | \n−12.53% | \n0.00 | \n−12.56% | \n0.00 | \n−13.80% | \n0.00 | \n−1.27% | \n
\n | Shinagawa | \n\n | −6.09% | \n0.00 | \n−2.83% | \n0.02 | \n−6.83% | \n0.00 | \n−6.62% | \n0.00 | \n−3.79% | \n
\n | Meguro | \n\n | 8.18% | \n0.00 | \n10.71% | \n0.00 | \n6.95% | \n0.00 | \n7.76% | \n0.00 | \n−2.95% | \n
\n | Ota | \n\n | −11.59% | \n0.00 | \n−9.71% | \n0.00 | \n−10.11% | \n0.00 | \n−13.14% | \n0.00 | \n−3.42% | \n
\n | Setagaya | \n\n | Baseline | \nBaseline | \nBaseline | \nBaseline | \n− | \n||||
\n | Shibuya | \n\n | 10.74% | \n0.00 | \n12.23% | \n0.00 | \n7.93% | \n0.00 | \n11.20% | \n0.00 | \n−1.03% | \n
\n | Nakano | \n\n | −4.79% | \n0.00 | \n−3.33% | \n0.00 | \n−3.76% | \n0.00 | \n−6.01% | \n0.00 | \n−2.68% | \n
\n | Suginami | \n\n | −5.20% | \n0.00 | \n−4.42% | \n0.00 | \n−4.99% | \n0.00 | \n−5.64% | \n0.00 | \n−1.22% | \n
\n | Toshima | \n\n | −7.34% | \n0.00 | \n−4.23% | \n0.00 | \n−6.35% | \n0.00 | \n−9.01% | \n0.00 | \n−4.79% | \n
\n | Kita | \n\n | −16.82% | \n0.00 | \n−14.43% | \n0.00 | \n−16.10% | \n0.00 | \n−17.69% | \n0.00 | \n−3.25% | \n
\n | Arakawa | \n\n | −19.82% | \n0.00 | \n−17.14% | \n0.00 | \n−18.83% | \n0.00 | \n−20.71% | \n0.00 | \n−3.57% | \n
\n | Itabashi | \n\n | −15.50% | \n0.00 | \n−15.73% | \n0.00 | \n−15.13% | \n0.00 | \n−15.86% | \n0.00 | \n−0.12% | \n
\n | Nerima | \n\n | −12.61% | \n0.00 | \n−10.86% | \n0.00 | \n−12.29% | \n0.00 | \n−12.95% | \n0.00 | \n−2.09% | \n
\n | Adachi | \n\n | −27.31% | \n0.00 | \n−24.71% | \n0.00 | \n−27.17% | \n0.00 | \n−27.90% | \n0.00 | \n−3.19% | \n
\n | Katsushika | \n\n | −26.27% | \n0.00 | \n−24.68% | \n0.00 | \n−26.83% | \n0.00 | \n−25.97% | \n0.00 | \n−1.29% | \n
\n | Edogawa | \n\n | −21.84% | \n0.00 | \n−19.56% | \n0.00 | \n−21.90% | \n0.00 | \n−21.92% | \n0.00 | \n−2.35% | \n
Difference between max. and min. | \n39.32% | \n\n | 41.79% | \n\n | 38.37% | \n\n | 39.10% | \n\n | −2.69% | \n
Results of hedonic equations: main estimated results.
Housing equipment items are arranged in descending order of ancillary rate in all samples, and a comparison is made between old, main, and new stocks.
\nIn terms of room equipment, the five items (i) air conditioning, (ii) hot water supply, (iii) indoor washing machine area, (iv) separate bath and toilet, and (v) flooring have a high ancillary rate of over 80%. The equipments for which there is a large difference in ancillary rate between old and new stocks (ancillary rate increased) are bathroom dryer (+62.6%), system kitchen (+50.7%), toilet with washlet (+43.4%), indoor washing machine area (+38.0%), and separate washroom (+36.0%).
\nIn terms of building equipment, the ancillary rate is over 50% for the bicycle parking lot and fiber optic Internet. The equipment for which there is a large difference in ancillary rate between old and new stocks (ancillary rate increased) is automatic entrance door (+65.0%), TV intercom (+55.4%), delivery locker (+44.6%), BS antenna (+43.0%), and security camera (+30.5%). In the conditions of contract, there are no items of note except for guarantor unnecessary, which is high at 37.8%, and only guarantor unnecessary (+19.6%) has a large difference in ancillary rate between old and new stocks (ancillary rate increased), but free Internet is also +11.8%.12\n
\nOverall, the rise in security equipment is significant in building equipment, and the rise in the equipment that improves the living convenience is significant in room equipment. In addition, the ratio of building structures also shows changes, such as wooden buildings decreasing by 8.0% and SRC by 7.4%, while steel frames increase by 5.6% and RC by 6.0%.13\n
\n\n\nTable 5\n shows the estimated results of the model. In addition, \nFigure 1\n illustrates the dummy partial regression coefficients for the equipment.
\nIndependent variables | \nAll | \nOld stock | \nMain stock | \nNew stock | \nNew-old | \n||||||
---|---|---|---|---|---|---|---|---|---|---|---|
Coef. | \nP>t | \nCoef. | \nP>t | \nCoef. | \nP>t | \nCoef. | \nP>t | \nCoef. | \n|||
High-rise block (16F over) | \n8.74% | \n0.00 | \n14.12% | \n0.08 | \n4.35% | \n0.01 | \n9.22% | \n0.00 | \n−4.89% | \n||
Room on the first floor | \n−2.76% | \n0.00 | \n−0.55% | \n0.28 | \n−2.94% | \n0.00 | \n−3.00% | \n0.00 | \n−2.44% | \n||
RE | \nAir conditioning | \n\n | 0.82% | \n0.00 | \n1.87% | \n0.00 | \n0.18% | \n0.48 | \n0.02% | \n0.96 | \n−1.86% | \n
\n | Hot water supply | \n\n | −1.77% | \n0.00 | \n0.58% | \n0.24 | \n−1.03% | \n0.00 | \n−2.42% | \n0.00 | \n−3.01% | \n
\n | Indoor WM area | \n\n | 1.27% | \n0.00 | \n2.73% | \n0.00 | \n1.73% | \n0.00 | \n−0.77% | \n0.00 | \n−3.50% | \n
\n | Flooring | \n\nA\n | \n0.16% | \n0.22 | \n3.35% | \n0.00 | \n0.50% | \n0.01 | \n−1.81% | \n0.00 | \n−5.17% | \n
\n | Separate bath and toilet | \n\nA\n | \n5.07% | \n0.00 | \n5.58% | \n0.00 | \n6.46% | \n0.00 | \n1.55% | \n0.00 | \n−4.03% | \n
\n | balcony | \n\nA\n | \n0.84% | \n0.00 | \n3.28% | \n0.00 | \n1.82% | \n0.00 | \n0.01% | \n0.95 | \n−3.27% | \n
\n | System kitchen | \n\n | 1.85% | \n0.00 | \n4.62% | \n0.00 | \n2.40% | \n0.00 | \n0.79% | \n0.00 | \n−3.83% | \n
\n | Separate washroom | \n\n | 2.11% | \n0.00 | \n2.18% | \n0.00 | \n2.35% | \n0.00 | \n2.16% | \n0.00 | \n−0.03% | \n
\n | 1 gas stove | \n\n | −0.52% | \n0.00 | \n−1.09% | \n0.04 | \n0.13% | \n0.52 | \n−1.13% | \n0.00 | \n−0.05% | \n
\n | Washlet | \n\nA\n | \n2.20% | \n0.00 | \n3.17% | \n0.00 | \n2.75% | \n0.00 | \n1.16% | \n0.00 | \n−2.01% | \n
\n | Bathroom dryer | \n\nA\n | \n1.35% | \n0.00 | \n4.90% | \n0.00 | \n3.07% | \n0.00 | \n1.29% | \n0.00 | \n−3.61% | \n
\n | 2 gas stoves | \n\n | −0.34% | \n0.01 | \n−0.03% | \n0.95 | \n1.17% | \n0.00 | \n−0.09% | \n0.55 | \n−0.05% | \n
\n | Reheating bath | \n\nC\n | \n2.22% | \n0.00 | \n0.26% | \n0.56 | \n0.06% | \n0.82 | \n3.45% | \n0.00 | \n3.18% | \n
\n | Washroom with shower | \n\n | −1.16% | \n0.00 | \n0.64% | \n0.41 | \n−0.18% | \n0.55 | \n−1.33% | \n0.00 | \n−1.97% | \n
\n | Own house rental | \n\nD\n | \n−2.92% | \n0.00 | \n−0.54% | \n0.45 | \n−1.87% | \n0.00 | \n−3.42% | \n0.00 | \n−2.88% | \n
\n | IH stovetop | \n\nD\n | \n−1.03% | \n0.00 | \n−0.65% | \n0.49 | \n−1.68% | \n0.00 | \n−1.62% | \n0.00 | \n−0.97% | \n
\n | Walk-in closet | \n\nB\n | \n1.22% | \n0.00 | \n4.33% | \n0.00 | \n0.77% | \n0.29 | \n0.88% | \n0.00 | \n−3.45% | \n
\n | Counter kitchen | \n\n | 1.10% | \n0.00 | \n2.83% | \n0.08 | \n0.03% | \n0.95 | \n0.72% | \n0.00 | \n−2.11% | \n
\n | With loft | \n\n | 4.72% | \n0.00 | \n5.59% | \n0.07 | \n4.08% | \n0.00 | \n4.19% | \n0.00 | \n−1.40% | \n
\n | Underfloor heating | \n\nC\n | \n5.19% | \n0.00 | \n−1.55% | \n0.73 | \n−1.09% | \n0.36 | \n4.97% | \n0.00 | \n6.52% | \n
BE | \nBicycle parking lot | \n\n | −0.94% | \n0.00 | \n−0.71% | \n0.09 | \n−0.70% | \n0.00 | \n−0.96% | \n0.00 | \n−0.25% | \n
\n | Fiber optic Internet | \n\n | −1.04% | \n0.00 | \n−1.83% | \n0.00 | \n−0.93% | \n0.00 | \n−0.91% | \n0.00 | \n0.92% | \n
\n | TV intercom | \n\nA\n | \n1.08% | \n0.00 | \n3.99% | \n0.00 | \n1.71% | \n0.00 | \n−0.15% | \n0.34 | \n−4.14% | \n
\n | Automatic entrance door | \n\nA\n | \n1.74% | \n0.00 | \n4.47% | \n0.00 | \n2.72% | \n0.00 | \n1.63% | \n0.00 | \n−2.84% | \n
\n | Cable TV | \n\n | −0.63% | \n0.00 | \n−1.61% | \n0.00 | \n−0.26% | \n0.13 | \n−0.51% | \n0.00 | \n1.10% | \n
\n | BS antenna | \n\n | −1.25% | \n0.00 | \n−2.58% | \n0.01 | \n−0.05% | \n0.83 | \n−1.45% | \n0.00 | \n1.13% | \n
\n | Elevator | \n\n | 2.52% | \n0.00 | \n2.89% | \n0.00 | \n2.10% | \n0.00 | \n2.63% | \n0.00 | \n−0.26% | \n
\n | Tiling wall | \n\n | −1.44% | \n0.00 | \n−1.91% | \n0.00 | \n−1.21% | \n0.00 | \n−0.97% | \n0.00 | \n0.93% | \n
\n | Delivery locker | \n\nA\n | \n2.03% | \n0.00 | \n4.55% | \n0.00 | \n1.42% | \n0.00 | \n2.68% | \n0.00 | \n−1.87% | \n
\n | Security camera | \n\nC\n | \n1.33% | \n0.00 | \n0.62% | \n0.45 | \n1.06% | \n0.00 | \n1.61% | \n0.00 | \n0.99% | \n
\n | CS antenna | \n\n | 0.60% | \n0.00 | \n1.76% | \n0.15 | \n−0.69% | \n0.04 | \n1.25% | \n0.00 | \n−0.51% | \n
\n | Garbage 24H available | \n\nC\n | \n−0.13% | \n0.49 | \n−1.58% | \n0.18 | \n−0.84% | \n0.06 | \n0.98% | \n0.00 | \n2.56% | \n
\n | Bike parking lot | \n\nC\n | \n0.75% | \n0.00 | \n−0.38% | \n0.61 | \n0.29% | \n0.28 | \n0.94% | \n0.00 | \n1.32% | \n
\n | Design by artist | \n\n | 0.45% | \n0.02 | \n0.62% | \n0.80 | \n1.78% | \n0.01 | \n0.52% | \n0.01 | \n−0.09% | \n
\n | Seismic structure | \n\n | −2.25% | \n0.00 | \n−4.11% | \n0.05 | \n−1.95% | \n0.00 | \n−1.82% | \n0.00 | \n2.29% | \n
CC | \nwith NO guarantor | \n\nD\n | \n−0.82% | \n0.00 | \n−1.47% | \n0.00 | \n−1.07% | \n0.00 | \n−0.23% | \n0.08 | \n1.24% | \n
\n | No pets | \n\n | 0.06% | \n0.77 | \n−1.46% | \n0.12 | \n0.37% | \n0.25 | \n0.47% | \n0.07 | \n1.93% | \n
\n | Pet consultation | \n\n | 3.24% | \n0.00 | \n2.85% | \n0.00 | \n4.13% | \n0.00 | \n3.10% | \n0.00 | \n0.25% | \n
\n | Pets allowed | \n\n | 2.57% | \n0.00 | \n2.17% | \n0.05 | \n3.40% | \n0.00 | \n2.35% | \n0.00 | \n0.18% | \n
\n | No musical instrument | \n\n | −0.32% | \n0.15 | \n1.61% | \n0.11 | \n0.22% | \n0.54 | \n−0.83% | \n0.00 | \n−2.44% | \n
\n | No office use | \n\n | 0.81% | \n0.00 | \n−1.18% | \n0.18 | \n0.01% | \n0.97 | \n1.13% | \n0.00 | \n2.31% | \n
\n | Office use allowed | \n\nC\n | \n5.04% | \n0.00 | \n2.34% | \n0.00 | \n4.01% | \n0.00 | \n6.11% | \n0.00 | \n3.77% | \n
\n | Free Internet | \n\nB\n | \n0.82% | \n0.00 | \n3.01% | \n0.02 | \n0.58% | \n0.19 | \n0.68% | \n0.00 | \n−2.33% | \n
\n | Contract with limited term | \n\nB\n | \n−0.82% | \n0.00 | \n−2.80% | \n0.00 | \n−0.86% | \n0.08 | \n−0.30% | \n0.39 | \n2.50% | \n
_cons | \n\n | \n | 0.00% | \n0.00 | \n0.00% | \n0.00 | \n0.00% | \n0.00 | \n0.00% | \n0.00 | \n– | \n
Estimated results of room equipment (RE), building equipment (BE), and contract conditions (CC).
Marginal price effect on RE, BE, and CC.
Looking at the estimated results, as floor area increases, rent goes up, and as the number of minutes on foot from the station increases or the railway travel time from Tokyo station increases, the rent goes down. When taking a wooden structure as the baseline of the building structure, the rent will increase in the order of steel frame, RC, and SRC. The rent varies greatly depending on the ward in which the property is located; a high-rise condominium is a positive driver, and a 1F apartment positions a negative driver for rent. These results are consistent with previous studies and the intuition of market participants.
\nThe effect of the number of years since construction differs depending on the period of construction, and as a whole, there is a −0.53% reduction in rent per year after construction. However, looking at the old/main/new period of construction dummy, the speed of reduction is high for new stock and low for old stock. This shows that the effect of years since construction is nonlinear, indicating that the decline in rent will be considerably smaller after a certain number of years. Such nonlinearity is also consistent with a series of previous studies.
\nThe influence of the ancillary equipment situation on the rent changes according to the period of construction (\nFigure 1\n). The change can be classified into the following four patterns.14\n
Pattern A: Items considered to have lost value because of commonness
In Pattern A, it is assumed that the equipment premium that was once a differentiating factor for price was lost because of the advancing commonness of equipment. This corresponds to room equipment (RE) such as flooring, separate bath and toilet, balcony, toilet with washlet, and bathroom dryer and building equipment (BE) such as TV intercom, automatic entrance door, delivery locker, and so on. In all cases, the ancillary rate has increased, so the superiority of the ancillary equipment falls, the influence on rent differs between old and new stocks, and such influence is generally small in new stock. Flooring and TV intercoms have a negative impact on new stock. This indicates that flooring and TV intercoms are no longer special equipment and do not offer price advantages.
Pattern B: Items considered to have lost value because they satisfied limited needs
In Pattern B, it is assumed that the price premium of the equipment was lost because the needs the equipment satisfied were limited in the first place and have been satisfied. The walk-in closet corresponds to this in room equipment (RE), nothing corresponds to this in building equipment (BE), and free Internet and contract with limited term correspond to this in contract conditions (CC). Contract with limited term has a negative impact on rent in new stock.
Pattern C: Items for which demand is considered to be increasing but the ancillary rate is low, and value is increasing
Pattern C is such that although consumer demand is increasing over time, a price premium exists because of the low ancillary rate in the housing stock. Equipment such as a reheating bath and underfloor heating corresponds to this in room equipment (RE), and security cameras, garbage disposal available 24-hours a day, and bike parking correspond to this in building equipment (BE). Items such as use as an office correspond to this in contract conditions (CC). In particular, the reheating bath and use as an office have a significant influence of +3.45 and +3.77%, respectively.
Pattern D: Items considered to be due to other individual factors
Items for which a price premium exists due to other factors correspond to owner-owned condominium for lease in room equipment (RE) and guarantor unnecessary in contract conditions (CC). Regarding condominium for lease, the effect of the increase in supply is considered to be caused by the change in the social situation, where the tendency for relatives to avoid guaranteeing rent obligations has strengthened.
\n\nFigure 2\n shows the depreciation rate of all rents (All) and for the case where the ancillary equipment situation is poor (Poor). The equipment being poor indicates there is no (i) washlet, (ii) bathroom dryer, (iii) reheating bath, (iv) TV intercom, (iv) automatic entrance door, (iv) delivery locker, or (vii) security camera. These types of equipment have become more common in recent years and can be installed in existing buildings.
\nDepreciation in rental housing.
There were 13,033 properties with poor equipment; a regression analysis similar to the previous one was carried out with the logarithm of the rent as a target variable, and the regression coefficient of the years since construction was obtained. That is, as of October 2018, data points without the aforementioned equipment exist regardless of whether they are new, main, or old stock. This means that low-quality rental housing that does not have equipment that has become popular in recent years is still supplied. By extracting such data and comparing the depreciation of rental housing with new functions that benefited from technological progress and the depreciation of low-quality rental housing with no new functions, it is possible to extract the depreciation that accompanies obsolescence.
\nIn \nFigure 2\n, the depreciation rate for each period is calculated with the rent at the time of construction as 100 to demonstrate the theoretical effect of the increasing number of years since construction on rent. When comparing the depreciation rate of all rents with that of rents of properties with a poor ancillary equipment situation, the depreciation rate increases in all cases (new, main, and old stocks). Roughly 60 years after construction, the difference was found to be 5.5%.
\nIn addition to the measurement of the magnitude of the age effect accompanying obsolescence, this result means that rent depreciation can be mitigated if appropriate ancillary equipment investment is made with respect to the demands for housing equipment that have increased with economic growth and changes in lifestyle. We believe that this will provide pointers for high-level policy with respect to Japan’s rental housing market, where the aging of stock will advance in the future.
\nChanges in prices over time are broken down into changes due to supply-demand relationships and those caused by quality changes. In particular, this means that in markets with rapid technological progress, the price rise accompanying quality change increases as new products are introduced successively, but at the same time, in markets where such new products are introduced, the speed of obsolescence is fast.
\nCompared with Western countries, new products are easy to create in the Japanese housing market. The background to this is there are many housing providers and a comparatively large number of companies that do business throughout Japan and overseas. Such companies possess, for example, think tanks to develop new products, and are developing integrated business from large-scale procurement of raw materials to design, construction, sales, and management.
\nIn this study, we focused on the period in which the housing was supplied and clarified the types of functions and equipment supplied to the market in each period and the extent of the marginal price effect in 2018. In addition, we measured the magnitude of obsolescence that accompanies the addition of a new function.
\nThe conclusion can be summarized as follows.
Rent is strongly influenced by the floor area, years since construction, building structure, number of minutes on foot from the nearest station, railway travel time from Tokyo station, location, and so on. This confirms conclusions provided by previous studies.
The ancillary conditions of housing equipment vary greatly depending on the construction year. This suggests that the Japanese rental housing market is strongly influenced by regulations such as the Building Standards Act and the improvement of living standards by economic growth.
Some ancillary conditions have a large influence on rent, but if the ancillary rate increases, the influence becomes smaller due to commonness, and housing equipment responding to new needs have a positive influence on rent.
Even if the number of years since construction is large, depreciation of the rent can be reduced if additional investment in appropriate housing equipment is carried out.
These evaluations are for the present time, and they are expected to change in the future as housing equipment ancillary rates change and social conditions, lifestyles, and resident demands evolve. The conclusion of this study shows the possibility of increasing profitability by responding to resident demands and raising rent through adding ancillary equipment, even in countries in Europe and in the United States, where housing building restrictions are strict.
\nHowever, several tasks remain. First, it is possible to add new functionality even to housing classified as old stock through large-scale renovation investment. In this sense, this study has not been able to measure the effect of investment in renovation. Moreover, in order to generalize the study result, it is necessary to identify appropriate housing equipment according to changes in lifestyle and social conditions, in addition to the influence of housing equipment on rent. Even if the scope is restricted to Japan, it is also necessary to consider points such as the type of differences that arise depending on the scale of the city and the standard of living and climate in different regions, as well as whether the necessary housing equipment differs according to the age, gender, family composition, income, and so on of the residents.
\nWe would like to clarify these questions as future research tasks.
\nThe second author gratefully acknowledges the financial support of the Nomura Foundation.
\nIntechOpen publishes different types of publications
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