The aim of this paper is to evaluate the factors of gentrification based on the economical social and architectural framework
in the field of maintenance management of real estates. Andrássy Avenue, announced to be a part of the
UNESCO World Heritage site in 2002, is an inner-city neighbourhood in Budapest, which underwent a significant
renewal process during the last two decade. This area was chosen because it represents very different types of gentrification
processes. There are three research indicators defined and modelled over the statistical data. The applied modelling
for evaluation of the gathered data are descriptive statistics and main factor analysis for the Shevky-Bell indices.
The statistical model predicts that property market prices will rise after the architectural transformation however it will
not have significant impact on the prices of the flats with bad conditions in the neighbourhood. This paper examines
the renewals of the residential apartments as rent-gap or social displacement occurs. Factor points out that what motivate
the young highly educated residents to move in the neighboured apartments of the Liszt Ferenc square area and
what is the architectural benefit of these displacements. The facility manager of these buildings must be aware of the
social profile of the owners of the individual properties inside the building to create their annual maintenance budget.
The effects of rent-gap and the change in property functions are demonstrated as case study of the renewed residential
palace in the under Teréz Town area of the Andrássy Avenue.
Keywords: Gentrification, Rent-Gap, Social Displacement, Renewal, Real Estate.
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