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http://dx.doi.org/10.15207/JKCS.2019.10.3.193

An Analysis of the Factors Influencing Sales Price of Multi-Household Houses in Chang-won City  

Oh, Sae-Joon (Department of Real Estate and Finance, Changshin University)
Publication Information
Journal of the Korea Convergence Society / v.10, no.3, 2019 , pp. 193-201 More about this Journal
Abstract
The public's interest regarding multi-household houses, one of the small-scale housings used as profit earning property, has been increasing. Previous studies regarding price, such as the rent and sales price of multi-household houses', however, were difficult to find. Thus, this study set forth to find out what characteristics influence the sales price of multi-household houses so as to provide further suggestions to investors' decision makings and developers' strategy establishments. The data was retrieved from multi-household sales transacted in Changwon City. Through empirical analysis, this paper found that prices were high in Euichang-gu and Seongsan-gu, and meaningful variables in terms of locations were distance from major trade areas(-), distance from main streets(-), and Corner site(+). Meaningful variables related to household characteristics were total floor area(+), Studio type(+), Southern exposure(+), Building age(-), and Full-furnished(+).
Keywords
Multi-dwelling Housing; House Price; Location; Changwon City; Hedonic Price Model(HPM);
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