Abstract
This paper shows the outbreak of external diseconomy caused by unmaintained vacant houses and buildings through economic approach after having analyzed the present conditions and the problems of those. Particularly, it has been clarified that land prices of residential land around unmaintained vacant houses and buildings, which have much probability to collapse or scatter building materials due to decaying, or have been ordered to remove or repair by local authorities, are apt to become lower. In addition, this study analyzes the effect of current various countermeasures for external diseconomy caused by unmaintained vacant houses and buildings, and shows that such countermeasures may not necessarily function effectively and efficiently.
