• Journal of People, Plants, and Environment
• /
• v.24 no.5
• /
• pp.529-544
• /
• 2021

Background and objective: A great deal of previous research has highlighted the value of educational and cultural facilities embedded in housing prices, by taking a large spatial area as the focus, such as the city or district level. However, few studies have investigated the extent to which educational and cultural facilities influence the formation of housing prices from an accessibility perspective. This study aims to identify the value of educational and cultural facilities embedded in the housing prices in Seoul Metropolitan City with a focus on the concept of the residents' neighbourhood and accessibility. Methods: To this end, this research used a spatial regression model with educational and cultural facilities as the independent variables and housing prices as the dependent variable. The model assessed the accessibility of cultural and educational facilities by considering geographic effects. Results: The findings are as follows. First, the spatial error model was found to be the best fit for multi-unit housing, while the spatial lag model was more appropriate for single-unit housing and apartments. Second, private educational facilities and art museums had positive effects on single- and multi-unit housing prices, while historical sites had a negative effect. Finally, private educational facilities positively influenced apartment prices, whereas public libraries and urban park areas had a negative effect. Conclusion: These findings indicate that the accessibility of educational and cultural facilities reflects residents' preferences and needs, which will ultimately influence housing prices.

• Journal of the Korean Society of Industry Convergence
• /
• v.25 no.2_2
• /
• pp.315-322
• /
• 2022

Apartments are being established as a universal housing type because of the perception that they are excellent in preservation of asset values and convenience. In this study, through multiple regression analysis, it is a thesis that explores whether it affects the housing market in Gimhae, a small and medium-sized city in the province, and how the price flow in neighboring cities has an effect. It is possible to examine how macroeconomic variables such as the balloon effect and the lowest interest rate caused by the government's tweezers regulation bring about changes in the housing market of small and medium-sized cities in local regions.

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

• International Journal of Advanced Culture Technology
• /
• v.12 no.2
• /
• pp.62-71
• /
• 2024

The Study analyzed the effect of private education costs and housing prices on the total fertility rates in 16 metropolitan cities in Korea from 2009 to 2021, and estimated the contribution rates of each variable on the decrease in the total fertility rate. Using a dynamic panel data model considering the time series correlation of the total fertility rates, the total fertility rates for the year was positively (+) affected by the total fertility rates of the previous year, and the increase in apartment sales and Jeonse prices in the previous year reduced the total fertility rates. In addition, the increase in private education costs per capita in the previous year was analyzed to consistently reduce the total fertility rates.

• The Journal of Bigdata
• /
• v.6 no.1
• /
• pp.91-113
• /
• 2021

Despite the influence of real estate in the Korean asset market, it is not easy to predict market trends, and among them, apartments are not easy to predict because they are both residential spaces and contain investment properties. Factors affecting apartment prices vary and regional characteristics should also be considered. This study was conducted to compare the factors and characteristics that affect apartment prices in Seoul as a whole, 3 Gangnam districts, Nowon, Dobong, Gangbuk, Geumcheon, Gwanak and Guro districts and to understand the possibility of price prediction based on this. The analysis used machine learning algorithms such as neural networks, CHAID, linear regression, and random forests. The most important factor affecting the average selling price of all apartments in Seoul was the government's policy element, and easing policies such as easing transaction regulations and easing financial regulations were highly influential. In the case of the three Gangnam districts, the policy influence was low, and in the case of Gangnam-gu District, housing supply was the most important factor. On the other hand, 6 mid-lower-level districts saw government policies act as important variables and were commonly influenced by financial regulatory policies.

• Land and Housing Review
• /
• v.14 no.3
• /
• pp.37-53
• /
• 2023

This study conducted an empirical analysis of how different types of living retail businesses affected housing prices during the COVID-19 pandemic, with a particular focus on both global and local time series effects. The main findings are three folds: First, from a global perspective, the study discovered that the presence of living retail businesses had a significant impact on prices of nearby apartment, varying according to their type. Secondly, the impact of COVID-19 on the retail industry varied depending on the type of business. Thirdly, when viewed from a local standpoint, the impact of the retail business sector on apartment prices due to COVID-19 pandemic was substantial, varying across regions and business types. This implies that external shocks like COVID-19 have the potential to alter the role and perception of living retail businesses. In light of this, the study has put forth policy implications aimed at mitigating the adverse effects of living retail businesses and enhancing residential quality.

• Journal of Cadastre & Land InformatiX
• /
• v.48 no.2
• /
• pp.5-20
• /
• 2018

This paper aims to analyze characteristic by the cities focused on the ratio of new apartment resale that is one of the apartment unit sale market, which has been increased recently. So, this study examined characteristics of population, apartment trade & sale, housing with 162 cities and counties and performed multiple regression analysis with dependent variable, ratio of new apartment resale. As a result. the factors affecting the ratio of new apartment resale are 7variables, apartment sales rate, transfer of ownership, apartment turnover rate, sale volume, regional apartment rate, population increasing rate, housing average apartment sale price rate. In terms of the increase in apartment sales prices, the rate of sales price increase was relatively low in areas where the transaction rate for apartment sales is high, and the number of apartment sales right transactions increased as the number of other ownership transfers rose. As a result, the data will be based on the improvement of the government's policies and systems to stimulate the transaction focused on the real estate agents in the apartment market.

• Proceeding of Spring/Autumn Annual Conference of KHA
• /
• 2006.11a
• /
• pp.484-487
• /
• 2006

Today, the age of high oil prices is continued, due to the energy demand is on the increase and human principlal energy sorce, fossil fuel. As an alternative plan of energy saving, co-generation system that produces power and thermal energy at the same time has actively developed. In 1960s, co-generation system was introduced to Korea and since 2000 it has diffused throughout the apartment house. Therefore, objectives of this study are to analyze the energy reduction effects in the region 4 apartment houses of Daegu and Kyungbuk regionand set up a plan for its expansion in the future.

• Journal of Cadastre & Land InformatiX
• /
• v.50 no.1
• /
• pp.125-141
• /
• 2020

This study investigated the time-series relationship between housing consumer sentiment and housing prices in the five major districts in Seoul and also analyzed the effect of the housing consumer sentiment on housing prices using Granger Causality and VEC (Vector Error Correction) models. To describe the key results, first of all, housing consumer sentiment and regional housing market prices were closely related to each other, and the consumer sentiment strongly affected the change of housing prices. Second, the housing consumer sentiment was confirmed to have a discriminatory effect on the housing prices among the districts in Seoul in the short term. Specifically, the housing price of the east southern district (ESD) was the main reason for the change in housing consumer sentiment in Seoul, and that the resulting impact was transferred to other districts. Third, it was analyzed that regions other than the ESD would increase the housing prices in the long term as the housing consumer sentiment turned positive, but that the ESD would see a steady tone. Fourth, in the case of relative influence by district, housing (apartment) price fluctuation in a district was generally found to be most affected by adjacent or competitive districts. Through these findings, this study confirmed that there is a clear causality between housing consumer sentiment and housing prices in each district of Seoul and that there is a discriminatory influence on housing consumer sentiment among the districts.

• Korea Real Estate Review
• /
• v.24 no.1
• /
• pp.15-26
• /
• 2014

Using multivariate GARCH model, we estimate the relationship between the housing sale prices and lease prices in the Korean housing market. In the analysis of relationship between the rate of changes in sale and lease prices, the correlation coefficient of the apartment and detached house is higher than that of the townhouse. By housing type, the correlation coefficient between detached house and townhouse is higher than between apartment and detached house or apartment and townhouse. By housing size, there are no significant different results between the sales price and the rental price. The correlation coefficient between medium and small size is the highest in the apartment housing market, whereas the correlation coefficient between large and medium size is the highest in the detached housing market, resulting from the fact that people may be more interested in medium- and small-sized apartment and large- and medium-sized detached house. In the detached housing market, the correlation coefficient between large-medium size and medium-small size in the rental price is higher than that of sales price. This result implies that the process of the decision making between purchasing and leasing a house might be different.