• Journal of the Korean housing association
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• v.22 no.1
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• pp.105-114
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• 2011

There are various kinds of Large-Scale apartment sites in Seoul. There are more households in apartment sites than single family houses. Nowadays, it is easy to find a lot of apartment sites built in the style of a high rise building. On the matter of space, a building is influenced by the buildings near it. The influence a building has to another is different in both qualitative and quantitative ways. Therefore, in the case of apartment sites, the environmental surroundings of each household is affected by the nearby buildings. For these reasons, the environment is having more and more influence on the price of each household in apartment sites. This paper has defined Sunshine and Sky as the major environmental elements. In order to be analyzed, they have to be measurable. Thus, there are two types of variables in environmental surrounding of apartment sites, -the Duration of Sunshine and the possible amount of visible Sky- the significant variables which influence the housing price. This paper deals with the relationship between the possible duration of sunshine and the possible amount of sky a household is visible to. It focused on 62 different apartment sites which were built after 1990. It is based on the 3-dimensional Geographic Information System & Computer Aided Engineering for analyzing the sunshine simulation and the viewing simulation. This paper will be helpful for designing the apartment sites considering the balance between sunshine and sky.

• The Korean Journal of Applied Statistics
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• v.33 no.5
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• pp.603-614
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• 2020

This study focuses on the prediction and factors of apartment prices in Seoul using a convolutional neural networks (CNN) model that has shown excellent performance as a predictive model of image data. To do this, we consider natural environmental factors, infrastructure factors, and social economic factors of the apartments as input variables of the CNN model. The natural environmental factors include rivers, green areas, and altitudes of apartments. The infrastructure factors have bus stops, subway stations, commercial districts, schools, and the social economic factors are the number of jobs and criminal rates, etc. We predict apartment prices and interpret the factors for the prices by converting the values of these input variables to play the same role as pixel values of image channels for the input layer in the CNN model. In addition, the CNN model used in this study takes into account the spatial characteristics of each apartment by describing the natural environmental and infrastructure factors variables as binary images centered on each apartment in each input layer.

• Land and Housing Review
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• v.12 no.4
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• pp.41-59
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• 2021

This study reviews theoretical considerations and past studies about real estate prices, macroeconomic variables, and real estate policies. Monthly data from January 2003 to June 2021 are used, and a VEC model, the most widely used multivariate time series analysis method, is employed for analysis. Through the model, the effects of macroeconomic variables and real estate regulatory policies on real estate prices in Seoul are analyzed. Findings are summarized as follows. First, macroeconomic variables such as money supply and interest rates do not have a significant impact on Seoul's apartment prices. Due to the high demand for housing and insufficient supply, there is a demand for buying a home regardless of macroeconomic booms or recessions. Second, tax and financial regulatory policies have an initial impact on the rise in apartment prices in Seoul, and their influence diminishes over time. Third, anti-speculation zones are expected to decrease apartment prices through the suppression of demand. However, these zones cause a rise in apartment prices. This could be understood as a lock-in effect due to the strengthening of capital gains tax. Fourth, the price ceiling did not decrease apartment prices. These findings propose that, in Seoul, where demand is high and supply is insufficient, the supply of high-quality and sufficient housing should be prioritized over various regulations such as tax regulations, financial regulations, anti-speculation zones, and price caps. Moreover, the findings provide an implication that city-specific real estate policies should be implemented for Seoul rather than regulation-oriented approaches in public policy.

• KIEAE Journal
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• v.11 no.4
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• pp.19-27
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• 2011

This study aims to find the determining factors for apartment rental prices by using Stepwise Multiple Regression Analysis. In the process, differences among the groups and multicollinearity and correlation between the variables are examined using analysis of variance(ANOVA), correlation analysis and factor analysis. The comprehensive analysis of reliability of the variable and comprehensivization ensure objectivity. For this analysis, the characteristics of the determining factors for apartment rental prices by sub-regions in Seoul are as follows : First, the housing supply rate appears center of the central and the southwest region is influenced by the cultural and ecological environment, convenience, the size of the complex and reputation of the developer. Second, the northeast region is generally influenced by the regional economy, housing size, the density of the complex, well-known construction companies and relevant variables of individual housing and the density of the complex, physical and social environment, reputation of the developer, local economy and housing size. Lastly, the southeast region appears to be influenced by the local economy, the density of the complex, housing size and the educational environment.

• Korean Journal of Construction Engineering and Management
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• v.22 no.1
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• pp.27-35
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• 2021

The study intends to identify the effects of infrastructure property on an apartment house by analyzing the price variation affected by factors constituting the quality of the transit services of each individual station in urban railway system based on hedonic price model. The research findings indicate that the prices depending on the transit users have increased from 7.8% to 12.2% in Seoul and decreased from 6.1% to 12.9% in Gyeonggi, which implies that a lower number of transfer users has a positive effect on housing prices in Seoul unlike Gyeonggi. It also is noteworthy that the distance to the urban railway station had a negative effect on housing prices in Seoul and positive effect in Gyeonggi. Taking these results together, in Seoul, the increase in the number of transit users had a negative effect on neighborhood housing prices. When analyzed by segments, however, an additional negative effect was observed only in the apartments located within the radius of 100 meters. It is also found that the impact of transit users varies according to the regional characteristics, such as the density of commercial facilities and the population density, and the spatial extent of negative effect also showed regional differences. These results provide implications for the planning of new stations, new cities, and land use of existing areas around stations.

• Architectural research
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• v.9 no.2
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• pp.27-35
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• 2007

Our nation has a problem with discrimination of income distribution and inefficient of resources distribution caused by real estate price rising from a sudden economy growth and industrialization. Specially, in recent years, there is a great disparity of apartment price between the north and south of the Han river. Because the housing price is decided by the immanent value of a house and neighborhood effects of the regional where the house is situated, the housing price is occurred difference. The purpose of study was to analyze the influence of various factors of housing price. Also, this study tried to predict real estate market and to establish previous effective real estate policy. In this study, we analyzed the differences of housing price determinants about apartment developments between the north and south of the Han river, and found the important factors that affect the housing price using Structural Equation Modeling(SEM). As a result of this study, the older the buildings are, the more the housing price and the housing price rising ratio have increased, in Gang Nam area. This reason is that these have large possibility to be reconstructed and many convenient facilities, in this area. In the case of Kang Buk area, the increase rate of housing price are so low that they couldn't take effect on the housing price and they were declined. So to speak, constructing the infrastructure which takes effect on the increase rate of housing price is very urgent.

• Journal of Digital Convergence
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• v.12 no.5
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• pp.89-99
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• 2014

Correlation of KOSPI from stock market and Apartment Prices in Seoul HPPCI from real estate market has been found from this research. Furthermore, from the comparison of those indicators' flows, certain precedence was found as well. The purpose of this research is to analyze correlation and precedence among KOSPI, Apartment price in Seoul, HPPCI and CLI. As for predicting KOSPI of stock market and real estate market, it is necessary to find out preceding indices and analyzing their progresses first. For 27 years from the January 1987 to December 2013, KOSPI has been grown by 687%, while CLI showed 443%, Apartment of Seoul showed 391%, HPPCI showed 263% of growth rate in order. As the result of correlation analysis among Apartment of Seoul, CLI, KOSPI and HPPCI, KOSPI and HPPCI showed high correlation coefficient of 0.877, and Apartment of Seoul and CLI showed that of 0.956 which is even higher. Result from the analysis, CLI shows high correlation with stock and real estate market, it is a good option to watch how CLI flows to predict stock and real estate market.

• The Journal of the Korea Contents Association
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• v.15 no.5
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• pp.488-497
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• 2015

The recent increase of chonsei has raised the degree of lease burden of households, and a new residential lease price index needs to be introduced to measure such degree of lease burden. In order to convert the burden into an index, the calculation method of the K-HAI, which is announced by the Korea Housing Financing Corporation, is applied by replacing house purchase with lease. From the calculation, the residential lease prices index of the first quarter of 2014 is estimated to be approximately 114, indicating that the cost of lease exceeds 35% of income. The result of analysis on the trend of the residential lease prices index from the first quarter of 2012 to the present in Seoul indicates that the residential lease prices index in Seoul has continued to increase, compared to that of the entire country. The results of this study will be a foundation to find a solution for the stabilization of chonsei and investigate the degree of lease burden by region when establishing a sustainable housing policy.

• Journal of Environmental Impact Assessment
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• v.21 no.2
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• pp.297-314
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• 2012

This study investigates the stigma effect of unwelcomed facilities on apartment prices through multiple regressions based on hedonic price method. The areas studied are Sang-gye Jugong 7, 9, 10 apartment complexes. The facilities analyzed are the Chang-dong Electric Subway Depot and the Do-bong Driver's License Agency. The factors studied include the environmental variable (the elapsed time since the announcement of the re-location of these facilities), the view commanding, the distance from Chang-dong Depot, the distance from Do-bong Driver's License Test Course, the distance from neighboring facilities (subway stations, schools, parks and so on), the floor and each dwelling's exclusive space. The data used are 2,822 sales which have been collected since January 1, 2006. The facts found are as follows; first, the view commanding and the distance from the unwelcomed facilities are statistically significant. second, the environmental variable, 'days' turns out to have a positive (+) and a negative (-) significant relationship with the dependent variable, 'price', in period II and period IV respectively. This implies that the stigma effect is real. third, there are significant differences in the influence on the apartment prices among the independent variables according to time. fourth, the stigma effect is estimated as 33,686,920 Korean won in the case of the apartments which have the view commanding and 30,311,844 won in the other case before the global economic crisis. This effect seems to decrease to 22,085,078 won after the crisis. These facts suggest that stigma effects could be considered as one of the benefits in the cost-benefit analysis of Chang-dong Depot re-location project to produce somewhat higher NPV or B/C ratio.

• Journal of Digital Convergence
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• v.19 no.11
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• pp.255-266
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• 2021

Investment demand for factory facilities has increased due to the balloon effect caused by housing price regulation. This study investigated the impact of the real estate market and macroeconomic factors on the bid price ratio of apartment auctions and factory auctions, focusing on the metropolitan area. To this end, we reviewed theories and previous studies on real estate auctions, and examined how macroeconomic variables affect bid price ratio of apartments and factories using the panel vector autoregressive model. It was found that the increase in the apartment bid price ratio increases as the participation in apartment auctions increases. However, as the factory bid price ratio increases, the factory bid price ratio does not increase, it was confirmed that the positive (+) relationship between the successful bid price ratio and the bid price ratioe does not exist, unlike previous studies. Based on the analysis results, it is suggested that the real estate market and macroeconomic factors should be considered for the stable operation of the related relevant auction system. This study has limitations in that it is limited to the metropolitan area. In the future, research that expands the scope of research to the whole country and provinces should be conducted.