• Title/Summary/Keyword: Apartment Sales Market

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A Study to Analyse the Characteristic of New Condominium Buyers with the object of Investment and Owner-Occupation : The Case of Busan and Gyeong Nam Area (공동주택 분양시장의 투자자와 실수요자 특성 연구 - 부산·경남지역을 중심으로 -)

  • Han, Gwang-Ho;Kim, Tae-Yong;Ro, Seung-Han
    • Journal of Cadastre & Land InformatiX
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    • v.47 no.2
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    • pp.91-105
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    • 2017
  • It is important to identify new apartment buyers with the object of investment and owner-occupation because it may determine the scope of marketing and marketing strategies. Establishing an more effective marketing scope and strategies should result in maximizing profits and reducing expenses. In this study, we split the participants in the new apartment market depending on the buyers' intent - investment and owner-occupation - and then examine their characteristics. We employ condominium buyers' information from 2011 to 2016, which is provided by the one of the largest construction companies in South Korea. The sites of the condominium samples locate in Gyeongnam and Busan areas and the number of household sample is 5,549. The results show that investors are approaching at a greater distance than actual buyers. The higher the age and the lower the price, the higher the probability of participation of investors. We also find that the samples of Busan have different results from the others, which may imply that the area has more demand due to its attractiveness.

A Study on the Contribution of GIS-Created Neighborhood Quality Variables in Estimating Hedonic Price Models (헤도닉 모델 추정시 GIS 공간분석기능에 의해 생성된 근린변수의 기여도에 대한 연구 - 토지이용도를 이용한 근린변수의 타당성을 중심으로 -)

  • Sohn, Chul
    • Spatial Information Research
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    • v.10 no.2
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    • pp.215-232
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    • 2002
  • Variables representing neighborhood quality should be included in hedonic price models to control lfor the influences of negative or positive externalities from the quality of neighborhood on urban housing prices. This study proposes a GIS-based method to effectively measure the neighborhood quality variable when data on the neighborhood quality are aggregated by census sub area. This study also tests the superiority of the proposed neighborhood quality variable created by intensive use of GIS operations to a neighborhood variable not based on GIS operations in explaining the housing price variations by using Seoul's apartment sales data. The results from this study show that the neighborhood quality variable based on GIS-based operations shows better performance in explaining the urban housing price variations in Seoul's housing market. The implication from the results is that the potentials of GIS-based spatial operations in creating neighborhood quality variables should be well acknowledged by the researchers in the area of urban housing market study and GIS-based spatial operations should be more actively applied to generate better neighborhood quality variables for hedonic price models.

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A comparative study between Korea and the USA on the development process in retail trade & its changing locations (소매업의 발달과정과 입지 변화에 관한 한.미 비교 연구)

  • Jeon, Kyung-Sook
    • Journal of the Korean association of regional geographers
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    • v.6 no.2
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    • pp.21-40
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    • 2000
  • The retail trades in many countries have changed recently according to the high quality, diversification, and marked individuality of consumer needs. Under the continually competing system of the WTO agreement, corporations based in the USA and the EU try to raise their market share in other countries so it is inevitable for Korean retail enterprises to compete with them. This paper is aimed at contributing to the efficient growth for Korean retail trade from the analysis of the development process in retail trade and its changing locations comparing Korea and the USA. Retailers in the USA have practiced diversified marketing strategies considerably in order to survive in a rapidly changing retailing environment. American retailing, which has the most advanced marketing system in the world, has been of growing concern to marketing strategies in Korea. The following is a brief summary of this study. 1. Speedy and higher quality consumption is needed in accordance with the great increase in the single-family household and the female labor force participation both in Korea and in the USA. Senior citizens have become a new consumer group due to the aging population. In the future the retail trade will switch over to diversified retail formats and internet shopping as countries are transformed into information and communication societies. 2. In Korea, the former retail system characterized by markets and department stores has been greatly changed since the late 1980s with emphasis on high quality and convenience in consumption behaviors, with large domestic enterprises and foreign distribution corporations participating in Korean retailing. In the USA, retailing mergers and takeovers by major retails, bankruptcies, and extra-large shopping centers have emerged since the late 1980s. Recently, the USA retailing formats have been changed from the lower price-oriented discount types to the large scale theme parks. Much emphasis was put on entertainment, resorts, and convention centers. On the other hand, non-store types, such as the internet shopping, the CATV shopping, as well as catalog and mail-order sales are drastically increasing, although the proportion of their sales is low up to now. 3. In Korea, most of the retail facilities are concentrated in Seoul and the Metropolitan Region, and the distribution ratio of facilities came to 52% in 1997. The periodic markets, traditional markets which open on a periodic basis, are located mainly in Chollanam-do and Kyungsangbuk-do. The large-sized discount stores have expanded their locations to the over-crowded apartment complexes in new towns, located in the Metropolitan Region, and the large provincial cities, unlike the suburban locations in the USA. Therefore we needed to give attention to the locational relations in retail facilities between Seoul & the Metropolitan Region and rural settlement areas. In the USA, urban areas grew quickly with the development of the automobile in the 1920s, and the location of stores changed from a dispersed style centering around rural areas to a centralized one in urban areas. There is an accelerated growth for suburban areas, which have grown rapidly since 1950. As the membership warehouse clubs were introduced in the 1970s, the decentralization of location was more intensified. On the other hand, inner cities were revitalized by rearranging existing facilities to cope with suburban areas. And the location-free virtual retailing & TV shopping are also growing every year. 4. In view of the above, the continuous and desirable development devices in Korean retail trade are summarized as follows: First, the countermeasures against economies of scale, increase in retailing sales, and rise of a employment percentage in retailing are in need. Second, a scheme of lowering the proportion of food retail sales, and increasing a ratio of durable goods sales need to be worked out. Third, the original ideas are needed to apply positively information, communication and technology to retailing, to graft the traditional types on modem ones based on the social culture. Fourth, strategies are needed to strengthen the competitiveness of our retail trade through cooperation and chains of smaller retailers, the large enterprises participating in the distribution industry. Fifth, in order to realize the above, the retail industry, the administration, and the academic world should support the retail segment with concern and a practical strategy plan.

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A Survey on the Dietary Life toy Kimchi of Housewives in Wonju Area (김치에 관한 원주지역 주부들의 식생활 실태조사)

  • 노정미
    • Journal of the East Asian Society of Dietary Life
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    • v.14 no.4
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    • pp.319-337
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    • 2004
  • The purpose of this study was to investigate the dietary life about Kimchi of the housewives. Self-administrated questionnaires were completed by 322 housewives in Wonju area. The results were as follows: In the point of housewives' domestic duties, over 50% of housewives took care of their domestic duties alone, and the rate who learned how to manage domestic duties from their mothers before marriage decreased as the age got younger. 77.6% of housewives responded that both man and woman could manage a dietary life at home in the future, and the rate of such response was higher as their educational careers were higher and they were younger. In the point of housewives' basic situation about Kimchi, the rate of housewives who knew how to prepare kimchi was high as they were older, and the holding rate of a refrigerator for Kimchi was high as much as 72.4%. In the point of preparation for Kimchi, the rate who made Kimchi by themselves was high, but the rate of preparing Kimchi by their parents for them was higher in the twenties. Frequency of making Kimchi, an amount or a kind of Kimchi were notably different according to housewives' age, a type of their family, the number of their family, and their having a job or not. Housewives' opinion of a market kimchi was that it was expensive, and not sanitary, and rate of purchasing Kimchi was also low. In the point of the prepartion method of Kimchi for the winter, the rate who gained Kimchi from their parents was higher as they lived in an apartment, and had a nuclear family, and had the lesser family members. In an amount of Kimchi prepared for the winter, 11∼22 heads were 23.9% and 21∼30 heads were 21.9%. In the point of the method preparing Kimchi in the future, 53.8% of housewives responded that they would make by themselves, and 28.0% answered they would prepare or purchase. 77.4% of housewives answered that they would teach how to make Kimchi to their children. In conclusion, in housewives of Wonju area, wanted to make Kimchi by themselves and wanted their children to learn how to make Kimchi.

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Suggestions of Improvement in Construction Supervision System followed by Post-sale System of the Apartment;focussing on Supervision price (주택건설공사 후분양 도입에 따른 감리제도 개선방안;감리대가에 대하여)

  • Jo, Young-Sil;Lee, Hyun-Soo;Park, Moon-Seo
    • Proceedings of the Korean Institute Of Construction Engineering and Management
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    • 2007.11a
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    • pp.455-458
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    • 2007
  • With the government plan to introduce a post-sale system to the Korean real estate market quickly becoming a reality, reformation of the supervision policy under the current pre-sale system is expected. The current supervision policy, designed to enhance the quality of houses and to prevent improper construction, was reinforced through the 'residential construction promotion act' and has been further revised as the 'residential law'. At this current time, the introduction of a post-sale system is expected to affect all aspects of residential construction, from the planning stages to overall conditions regarding the actual construction. Therefore, this research will illustrate several changes in the supervision policy that are expected to arise from the introduction of the post-sale system, focusing on areas of the policy that are presumed to be the most affected. The research will highlight problems under the current system, analyze any domestic supervision restrictions that have been regulated for post-sales that are currently effective, and suggestion methods of improvement in construction supervision system through SWOT analysis.

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Liquidity-related Variables Impact on Housing Prices and Policy Implications (유동성 관련 변수가 주택가격에 미치는 영향 및 정책적 시사점에 관한 연구)

  • Chun, Haejung
    • Journal of the Economic Geographical Society of Korea
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    • v.15 no.4
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    • pp.585-600
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    • 2012
  • The purpose of this study related to the liquidity impact of the housing market variables using vector auto-regressive model(VAR) and empirical analysis is to derive some policy implications. October 2003 until May 2012 using monthly data for liquidity variables mortgage rates, mortgage, financial liquidity, as the composite index and nation, Seoul, Gangnam, Gangbuk, the Apartment sales prices were analyzed. Granger Causality Test Results, mortgage rates and mortgage at a bargain price two regions had a strong causal relationship. Since the impulse response analysis, Geothermal difference there, but housing price housing price itself, the most significant ongoing positive (+) reactions were liquidity-related variables are mortgage loans is large and persistent positive (+), financial liquidity weakly positive (+), mortgage interest rates are negative (-), KOSPI, the negative (-) reacted. Liquidity and housing prices that the rise can be and Gangnam in Gangbuk is greater than the factor that housing investment was confirmed empirically. Government to consider the current economic situation, while maintaining low interest rates and liquidity of the market rather than the real estate industry must ensure that activities can be embedded and local enforcement policies should be differentiated according to the policy will be able to reap significant effect.

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