• Journal of the Korean association of regional geographers
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• v.10 no.3
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• pp.654-666
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• 2004

The function of officetel has been changed from office use to residential use since 1980s. The construction of officetel was relatively increased in 1991, has been decreased in the middle of the 1991, and has been increased after 1996. This paper is an empirical examination of officetel rent determinants in Seoul. Hedonic regression analysis provides the basic framework for this study. The major rent determinants are the preferable location of buildings, the ratio of private use area to the building area. residential use. The officetel rents are likely to increase at an increasingly rate with respect to these variables. The significant and positive determinants that impact rents is the building story height for the officetel for business use, and the ratio of private use area to the building area for the officetel for residential use.

• Journal of Cadastre & Land InformatiX
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• v.46 no.2
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• pp.107-122
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• 2016

This paper examines the problems of officetel management and tests three types of hy-pothesis; use of officetel, the numbers of officetel, and ownership period to derive the efficient management in officetel as typical profitable real estate using survey data of officetel management satisfaction in Teheranro, Seoul. The problems classifies institutional inertia and lacks of management mind. This paper approaches to the internal and external problem concerning management from the viewpoint of actual owners getting out of fragmental investment value and investigates management solutions in the cost as well as institution aspect.

• 주택과사람들
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• s.204
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• pp.74-77
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• 2007

올해 들어 부동산 시장이 분양가 상한제, DTI 제한 등 각종 부동산 규제로 인해 좀처럼 풀리지 않고 있다. 실질적인 거래량뿐 아니라 민간주택 공급조차 작년에 비해 1/3가량 급감한 실정이다. 4855대 1의 청약 경쟁률을 기록한 오피스텔의 사례를 통해 요즘 새로운 투자 대안으로 떠오른 오피스텔의 가치를 논해보자.

• KSCE Journal of Civil and Environmental Engineering Research
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• v.35 no.3
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• pp.725-735
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• 2015

The aim of this study is to specifically understand the officetel market by empirical analysis for the determining factors that affect determining the price of the officetel in Busan. In my opinion, it can help officetel providers to select the appropriate size and location that analysis for the factors determining officetel price with market price, and also it can help customers officetel to choice depending on the purpose. So I was conducting this study. In this study, I analyzes the factors determining the price of Officetel using a OLS linear regression, semi-log model, and a robust regression-Busan area Officetel Real Transaction Price as the dependent variable and factors representing the physical characteristics, locational characteristics and regional characteristics as independent variables.

• Korea Real Estate Review
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• v.28 no.3
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• pp.65-77
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• 2018

The purpose of this study is to analyze the effect of the educational environment on the prices of studio apartments, known as officetels, in Korea. Since the revision of relevant laws in 2010, they have served as substitutes for residential purposes in areas suffering from housing shortage, especially where the educational environment is a significant factor. To assess the relation between the educational environment and rental rates, the hedonic price model and artificial neural networks were implemented. The national assessment of the academic performance of middle and high schools that were closest to each officetel, and the ratio of students going to special-purpose schools and private high schools were considered as independent variables. Research findings indicated that the positive effect of the dependent variable increased as the value of educational environment-related variables increased. This result could be utilized as a functional index for housing providers after considering educational environments.

• Korean Architects
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• no.9 s.269
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• pp.22-47
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• 1991

• Proceedings of the Korean Institute of Interior Design Conference
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• 2002.04a
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• pp.86-90
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• 2002

A new concept of building, office-tel, had gone through many ups and downs after being introduced to our nation. However, it overcame all the problems and is now an important part of the rural construction. It showed new potential especially on 1998 by flexibly corresponding when the IMF crisis occurred causing a radical social/economical change. It played a crucial role on activating the depressed real estate business and flourished like never before. This study analyses the office-tel market change pattern and factors by time period and grasps the causal relationship and attempts to set a new standard to evaluate the social/economical role and value of the office-tel.

• Journal of the Korea Institute of Building Construction
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• v.18 no.3
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• pp.285-294
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• 2018

Due to the low interest rates of banks according to the breakdown economy after the global financial crisis in 2008 As a substitute for financial products, the investment demand has been increased for rentable investment funds such as commercial building and officetel. However, the problems such as oversupply, decrease of a rental profit and negative perception of development projects have been occurred. One of the primary problems is the existing deterministic method of project feasibility analysis. Therefore, the objective of this study is to develop feasibility model by applying system dynamics method in residential officetel. To achieve the objective, first, the previous studies are investigated. Second, the causal loop diagram is structured based on the collected data. Third, the feasibility model is developed through the causal loop diagram. Fourth, the effectiveness is validated and compared to collected actual data. The proposed model can be helpful whether or not conduct execution of an officetel development project to the decision makers.

• Land and Housing Review
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• v.12 no.2
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• pp.33-45
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• 2021

Due to recent changes in government policy, officetels have received attention as alternative assets, along with the uplift of office and apartment prices in Seoul. However, the current officetel price indexes use small-size samples and, thus, there is a critique on their accuracy. They rely on valuation prices which lag the market trend and do not properly reflect the volatile nature of the property market, resulting in 'smoothing'. Therefore, the purpose of this paper is to create the officetel price index using transaction data. The data, provided by the Ministry of Land, Infrastructure and Transport from 2005 to 2020, includes sales prices and rental prices - Jeonsei and monthly rent (and their combinations). This study employed a repeat sales model for sales, jeonsei, and monthly rent indexes. It also contributes to improving conversion rates (between deposit and monthly rent) as a supplementary indicator. The main findings are as follows. First, the officetel price index and jeonsei index reached 132.5P and 163.9P, respectively, in Q4 2020 (1Q 2011=100.0P). However, the rent index was approximately below 100.0. Sales prices and jeonsei continued to rise due to high demand while monthly rent was largely unchanged due to vacancy risk. Second, the increase in the officetel sales price was lower than other housing types such as apartments and villas. Third, the employed approach has seen a potential to produce more reliable officetel price indexes reflecting high volatility compared to those indexes produced by other institutions, contributing to resolving 'smoothing'. As seen in the application in Seoul, this approach can enhance accuracy and, therefore, better assist market players to understand the market trend, which is much valuable under great uncertainties such as COVID-19 environments.

• The Journal of the Korea Contents Association
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• v.14 no.1
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• pp.455-465
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• 2014

This study focuses on some institutional improvement for revitalization of change in building use of officetel to lifestyle lodging industry. First as analysis method, this study establishes a failure factor for change in building use of officetel to lifestyle lodging industry. Second, analyzes an urgent importance to improve it in aspect of a legal institution or management for revitalizing a change of building use of officetel to lifestyle lodging industry. As a result, a failure factor of change in building use from officetel to lifestyle lodging industry is deducted in 4 articles with 13 detailed index. As a result of AHP, 'existing contractor's 100% agreement condition' is the first place, 'commercial /semi-residential area in zoning' is the second place, 'relative cleanup zone' is the fourth place, 'late changes of building use by a complex licensing procedure' is the fifth place, 'operational risk of consignment' is the sixth place, 'deficiency in publicity of related institution' is the eighth place, 'lack of concept in lifestyle lodging industry of building code' is the ninth place, 'basic constructional condition such as parking lot sewage and fire protection system' is the tenth plce, 'installation of ventilation facility' is the eleventh place, 'installation of bathroom and shower room in each room' is the twelfth place, 'installation of kitchen facility' is the thirteenth place.