An Analysis on the Effect of View and Story on the Price of Hanriver Riverside Apartments

The purpose of this study is firstly to review the effects of the view and story which are environmental and/or amenity factors, on the price of Hanriver riverside apartments through the sales comparison approach, and secondly to propose the appropriate model for estimating riverside apartment price. Among apartment complex located in adjacent north riverside highway, which inhabitants can overlook the Hanriver in their living room, the real sale prices of 285 apartment units sold out during the 3/4 of 2002 were used to find the proper Hanriver riverside apartment price model by hedonic price approach. After executing 4 different kinds of models by making the view and story variables as continuous and/or dummy variables, the result shows the higher effect on housing price when the story factor was set up as a continuos variable and the view factor was set up as two dummy variables. The finding proves the necessity of analyzing model concurrently considering both view factor and story factor when estimating riverside apartment price. A hot issue currently discussed is an assertion that the taxing standard when assessing tax on apartment should be changed into standard price which has been used for capital gain tax assessment. However we should consider the view and sto교 factors in case of price estimation of riverside apartment since even the standard price cannot catch the price difference between units within an apartment building.

한강수변 아파트 가격에 미치는 조망과 층별요인의 영향 분석