MULTI-CRITERIA EVALUATION OF HOUSING MODERNIZATION IN TIME OF ECONOMIC RECESSION AND RECOVERY

Climate change and limited energy resources stimulate exploitation of energy more efficiently in residential dwellings. Nearly 96. flat-houses in Lithuania were built before 1993. About 75% of households are connected to a central heating system. Central heating systems require updating. The Multi-apartment building modernization program from 2005 to 2015 lead to saving up to 117 GWh of energy a year and a decrease of greenhouse gas (CO2) emissions by 55.830 tons. This paper discusses modernization of multi-apartment buildings in Lithuania. After the bursting of the real estate bubble the effects of crisis on construction and real estate sectors are very tangible both in the world and in Lithuania. Four parallel projects in 2007 and 2009 are examined by applying the support system for making decisions. Socio-economic conditions, the macro, meso and micro environments were very different, even though these objects are very similar technically. The government approved the proposal to set up a Public Investment Development Agency in 28 November, 2012. Consequently, the EU and national resources will be used more efficiently and faster for implementation of renovation of multi-apartment buildings. At the same time it aims to develop the JESSICA financial model in other areas: urban development, environment, sports infrastructure, education, culture, tourism and transport.