Browse > Article
http://dx.doi.org/10.7782/JKSR.2016.19.3.380

A Study on the Influences of the Estimation of Areas and Fees for Rental Facilities Affiliated with Subway Stations: A Case of Seoul Subway Lines 5 and 6  

Jang, Jae Min (Korea Research Institute for Human Settlements)
Lee, Kyung Chul (Korea Railroad Research Institute)
Gim, Tae-Hyoung Tommy (Department of Environmental Planning, Seoul National University)
Publication Information
Journal of the Korean Society for Railway / v.19, no.3, 2016 , pp. 380-387 More about this Journal
Abstract
Considering that the Seoul subway sector is expected to see extension of lines, addition of stations, and changes of operating companies, a review is needed to identify ways to eliminate or minimize financial deficits in its operation. As for deficits from the operation, additional businesses for extra income have been suggested as alternatives, but inasmuch as Western urban development (that of the subway containment area) may not be applicable to Korean settings, a practical alternative is to maximize income by efficient use of rental facilities that are located inside station properties. This alternative requires the estimation of appropriate facility size and rent for each station; few, however, have addressed this topic. At this juncture, this study aimed to draw an equation for estimating the sizes and rents of station properties by reflecting characteristics of lines and locations; a case study was performed for Subway Lines 5 and 6. Analytical findings are that rental facility sizes and rental incomes are affected mainly by the subway ridership and transport revenues, whereas the influence of ground-level commercial activity is relatively weak. A particularly great influence was found to be the value of apartment housing in areas through which the subway lines run. Stations on Line 5, which runs through areas of high-value housing, were assigned smaller facility sizes and higher rents than those on Line 6, which covers areas with relatively low housing value. The equation suggested in this study would make possible more practical feasibility studies when the need arises to estimate sales of new or extended facilities affiliated with stations.
Keywords
Subway station; Extra income; Rental facility size; Rent; Underground arcade;
Citations & Related Records
Times Cited By KSCI : 4  (Citation Analysis)
연도 인용수 순위
1 K.J. Kim, J.H. Yeum, H.S. Je (2013) A study on the relationship between the distance of the station and the office rent - Focused on the major office districts in Seoul, 2014 Spring Conference Urban Design Institute of Korea, Seoul, Korea, 2013-04, pp. 319-326.
2 H.M. Chae (2011) Analysis of factors affecting the rental value of shops in the complex shopping mall, COEX, Journal of the Korea Research Institute, 68, pp. 191-205.
3 D.H. Jang (2011) A Study on Factors affecting the Rental Value of Retail Property in Apartment Complex, Journal of the Korea Real Estate Academy, 36, pp. 5-13.
4 B.H. Son, H.L. Ko, J.C. Sin (2014) A Study on the Determinants of Rents for Commercial Facility in Apartment Complex, Journal of the Residential Environment Institute of Korea, 25, pp. 223-240.
5 Y. Choi, J.G. Kim (2011) The Effect of Environment in Underground Shopping Arcade on Rent Evaluation, Journal of the Korea Planning Association, 184, pp. 269-279.
6 E.M. Gong, Y.U. Kim (2011) Influences of Spatial Configuration on Sales in Complex Commercial Facility, Journal of the Korea Real Estate Analysis Association, 19(1), pp. 117-131.
7 Y.S. Sin, Y.E. Gang, D.L. Ji, J.A. Kim, S.B. Lim (2010) A Study on the Area Calculation of Community Facilities in Rural Villages, Journal of the Korea Institute of Landscape Architecture, 137, pp. 28-38.
8 S.Y. Yang, D.I. Kim, Y.U. Hwang, S.H. Lee (2015) A Study on the Area Calculation of Community Facilities in Rural Villages, Journal of the Architectural Institute of Korea, 65, pp. 1-8.
9 S.H. Kim (2015) A Study on the Guidelines of Proper Size and Construction Cost for Public Childcare Centers, Journal of the Architectural Institute of Korea, 31.10, pp. 33-40.
10 S.H. Sin, S.Y. Moon (2015) A Proposal of the Optimal Space Area for a Office Work's Working Space Per Person through the Field Survey, Journal of the Architectural Institute of Korea, 30(8), pp. 65-73.