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http://dx.doi.org/10.5762/KAIS.2012.13.10.4543

An Analysis on the Impacts of High-Tech Complex on Neighborhood Housing Price  

Park, Dong-Wong (Graduate School of Urban Studies, Hanyang University)
Lee, Joo-Hyung (Graduate School of Urban Studies, Hanyang University)
Publication Information
Journal of the Korea Academia-Industrial cooperation Society / v.13, no.10, 2012 , pp. 4543-4550 More about this Journal
Abstract
The purpose of this paper is to suggest the improvement method to achieve the interactive development effect between high-tech industrial complex and its surrounding areas. For this reason, this paper has conducted an empirical analysis to find out relevant comprehensive factors, affecting nearby housing prices from such plans, especially by reviewing 'Seoul Digital Industrial Complex.' This paper is truly differentiated from previous research by adding a new perspective 'diverse location characteristics', as it focuses not only on 'high-tech facility' characteristics, but also on 'urban function facilities', including 'transportation facilities', 'amenity facilities', 'security facilities', etc. Then, SPSS Version 18.0 was utilized to conduct the multiple regression analysis with the accumulated relevant data and several results were drawn out as following: Firstly, 'deterioration level', 'brand of apartment', etc. are found to be major influencing factors. Secondly, 'educational facilities', 'transportation facilities', 'Cultural & Sports facilities', 'Amenity facilities', etc. are found in the sector of 'location characteristic'. Lastly, 'leading companies within the industrial complex', were also found, affecting nearby housing prices. Therefore, when a housing development project is planned to grant the interactive development effect to high-tech industrial complex and its surrounding housing areas, it is necessary to consider variety factors, such as comprehensive location characteristics and housing complex characteristics, and also proper housing policy measures should be devised in accordance with the actual demand of employees and their dependant family members.
Keywords
The High-Tech Complex; Hedonic Price Model; Housing Price;
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Times Cited By KSCI : 3  (Citation Analysis)
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