Reimagining Old Spaces: What Investors Really Think About Reviving Historic Buildings in China

Investing in old buildings can be a real challenge. For investors, things like money, interest, and leasing terms can greatly affect their decisions. By understanding what drives these investors, it helps to involve people with different interests in reviving historic buildings. This paper looked closely at what gets in the way of reviving heritage buildings, focusing on a city in China called Guangzhou. The goal was to figure out what makes it hard for investors to use old buildings in new ways. They talked to 19 investors and did some field research. They found three main issues that come up when deciding how to reuse these buildings: leasing terms, what the new function should be, and fire safety. These problems can leave buildings empty, which doesn't help protect them. But rent can play a big part in keeping them safe, as seen in a data analysis. Policymakers need to get a better grip on what the public and investors want to make better decisions about how to reuse these buildings.