• Journal of the Korea Academia-Industrial cooperation Society
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• v.17 no.8
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• pp.698-705
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• 2016

The purpose of this study is to analyze the impact which the plan characteristics of Residential Land Development Projects have on land price changes in the project district and to derive policy implications for the efficient promotion of these projects. For this purpose, we analyzed the promotion land price change progress of Residential Land Development Projects step-by-step. After theoretical consideration and a review of the references, 16 plan characteristics of Residential Land Development Projects affecting land price changes were selected ((1) The rate of land price change, (2) Business area, (3) Residential land ratio, (4) Commercial land ratio, (5) Semi-residential land ratio, (6) Neighborhood facilities land ratio, (7) Apartment house ratio, (8) Street ratio, (9) Park & green ratio, (10) Ratio of land for schools, (11) Site development cost for $1m^2$, (12) General residential area ratio, (13) Semi-residential area ratio, (14) Commercial area ratio, (15) Semi-Industrial area ratio, and Natural green area ratio). We used SPSS Version 20.0 to analyze the impact of the 16 selected plan characteristics on the land price changes. As a result, it was found that the land price began to rise two years (before/after?) the appointment of the district and became stabilized after the completion of the project. The plan characteristics that affect the land price changes were found to be the (2) Business area, (4) Commercial land ratio, (6) Neighborhood facilities land ratio, (8) Street ratio, (11) Site development cost for $1m^2$, and (12) General residential area ratio.

• Journal of the Korean Association of Geographic Information Studies
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• v.8 no.4
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• pp.52-60
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• 2005

This paper attempted to investigate not only the correlativity of land price and residential environment elements but also the effect that the residential environment elements influence on the land price, focusing on the Suyoung-Gu and Haeundae-Gu which are representative residential and waterfront area in Pusan. For this purpose, regression analysis and correlation analysis as the residential environment elements in independent variable and the land price in dependent variable were carried out. First of all, from the correlation analysis between the land price and the residential environment elements, it become clear that the variables such as the land use, the distance to arterial road and, the distance to subway station have high correlativity with land price in all the research area. Then from the individual power of explanation and accumulative power of explanation of the each variable to the land price through the regression analysis, it was become clear that 7 variables which are the land use, the distance to trunk road, the distance to subway station etc. have 67% of the power of explanation to land price at the Suyoung-Gu, and 50.5% at the Haeundae-Gu. Moreover, researchers had an special interest in the correlativity between the distance to the coastal line and land price as well as the power of explanation of the distance to the coastal line for the land price. It means that researchers expected the variable of the distance to the coastal line have a strong correlativity and high power of explanation for land price. However, from the regression analysis and correlation analysis, it was become clear that the variable of the distance to the coastal line have a weak correlativity, and low power of explanation which is just form 6.4% to 7.6% in all the research area. In other words, it might be said that the variable of the distance to the coastal line is not so important one to presume the land price.

• Journal of Cadastre & Land InformatiX
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• v.50 no.1
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• pp.87-105
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• 2020

The government is trying to secure reliability by raising the accuracy, objectivity, and transparency of the official price by promoting the reliability improvement plan of the official price and increasing the realization rate, but the Realization rate of Publicly Notified Individual Land Price is showing a big difference because the current market price is not fully reflected in the official price. Therefore, this study collected the actual transaction price reported to the RTMS in Wansan-gu, Jeonju, Jeollabuk-do and the individual official price of the KRAS and calculated the realization rate of publicly notified individual Land Price. SPSS 25.0 program was used for the empirical analysis of this study. The Dependent Variable was the realization rate of publicly notified individual Land Price, and Independent Variables, was six land characteristics items were selected, one-way ANOVA was conducted and post-test was conducted by Scheffe method. As a result of the analysis, average difference in realization rate of publicly notified individual Land Price was found in Residential areas, Commercial areas, and Farmland, Public land and Residential and commercia, Residential and Forest. Especially, it was found that the price of commercial area is higher than that of residential area and green area, and the price is less reflected in individual official land price.

• Journal of Korean Society for Geospatial Information Science
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• v.20 no.1
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• pp.101-107
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• 2012

Urban area is being continuously grown traffic volume due to diverse economic activities. Especially, the traffic noise, which occurs on the road of passing by residential district, is dropping quality of life as negative element of obstructing sleep at night. This study analyzed relationship between the officially notified land price and the traffic noise in residential district by using the estimating equation of traffic noise and GIS. As a result, the officially notified land price on a parcel of residential district along the road was indicated to be higher than a parcel where is located in other place. Even traffic noise was indicated to be higher. Accordingly, a plan is judged to be necessarily arranged that can be made appraisal of the officially notified land price, which is reflected the convenience of life and the quality of life at the same time in consideration even of traffic noise together as element of appraisal given evaluating the officially notified land price in residential district where is located in the downtown.

• Journal of Cadastre & Land InformatiX
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• v.52 no.2
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• pp.189-210
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• 2022

Cities around the world have paid attention to public transportation as an alternative to reducing traffic congestion caused by automobile usage, excessive energy consumption, and environmental pollution. This study measures accessibility to subway stations in Seoul using a supply-demand-based accessibility technique. Then, the impacts were analyzed through land prices by use and segment. As a result of analysis using the multilevel hedonic price models, accessibility considering both supply and demand for the subway had a positive effect on both residential and non-residential land prices. The effect was stronger for residential than for non-residential. Further, among the accessibility measured by the three functions, the accessibility by the Exponential function was most suitable for the residential land price, and the accessibility measured by the Power function for the non-residential land price had the highest explanatory power. Also, looking at the impacts by land price segments, it was found that higher access to metro stations had the greatest positive impacts on the most expensive segment of residential and non-residential land prices. The results of this study can be applied not only to identify the impacts of public investment on neighborhoods, but also to support real estate valuation.

• Journal of the Korean housing association
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• v.9 no.3
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• pp.59-68
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• 1998

The purpose of this study is to determine the direction of development of residential land in downtown of Taegu. The main findings of this study are follows. The residential land in downtown is narrow in size, has bad accessibility to road and has bad land shape. So if you develop the residential land not separately but related to near place, it will be more profitable. Especially, we can use Hedonic Price Model as a was of making better in economic.

• Korean Journal of Construction Engineering and Management
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• v.17 no.3
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• pp.108-115
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• 2016

The price determinant for land investment depends on the internal information process and subjective decision making by management in general. Accordingly, the systematic frame to determine the feasibility of investment price to the public residential land for multi-housing development by private sector has not been proposed. The purpose of this study is to explore the frame to determine the investment price for public residential land from the perspectives of land attribute and apartment market factor. Multiple regression has been implemented to confirm the eligibility of proposed model. Research findings indicate that the land area, floor area ratio, coverage ratio, location have been identified as the total land cost determinant, and for the determinants for floor area land cost, the ratio of apartment, sale price, rent price, etc, have been identified. This research intends to provide the basis for land providers to predict the land value as a raw material in market and present the indicators for land buyers to review the price adequacy for the investment.

• Spatial Information Research
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• v.11 no.3
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• pp.301-325
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• 2003

Urban residential area, one of the main subjects of urban and architectural studies, can be analyzed accurately and rapidly with CIS. (Geographic Information System) And the applications of GIS in urban studies are too macro to be explained in architectural terms and the ones in architectural studies are not so much active rather be used as a secondary means. So the studies in urban-architectural scale are very useful in many ways. This study explores urban-architectural possibilities of analytic capabilities of GIS through the analysis of spatial characteristics of residential area in terms of land price according to parcel attributes. It is found, firstly, that the parcel attributes have relations with land price and its distribution patterns. Secondly, it is verified that the visualization capability of GIS can be a very useful method of analysis through user-interface effects in urban-architectural scaled analysis.

• Korea Real Estate Review
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• v.28 no.1
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• pp.79-90
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• 2018

The purpose of this study was to estimate the pricing factors of residential lands in new cities by estimating the pricing model of residential lands. For this purpose, hedonic equations for each quantile of the conditional distribution of land prices were estimated using quantile regression methods and the sale price date of Jangyu New Town in Gimhae. In this study, a quantile regression method that models the relation between a set of explanatory variables and each quantile of land price was adopted. As a result, the differences in the effects of the characteristics by price quantile were confirmed. The number of years that elapsed after the completion of land construction is the quadratic effect in the model because its impact may give rise to a non-linear price pattern. Age appears to decrease the price until certain years after the construction, and increases the price afterward. In the estimation of the quantile regression, land age appears to have a statistically significant impact on land price at the traditional level, and the turning point appears to be shorter for the low quantiles than for the higher quantiles. The positive effects of the use of land for commercial and residential purposes were found to be the biggest. Land demand is preferred if there are more than two roads on the ground. In this case, the amount of sunshine will improve. It appears that the shape of a square wave is preferred to a free-looking land. This is because the square land is favorable for development. The variables of the land used for commercial and residential purposes have a greater impact on low-priced residential lands. This is because such lands tend to be mostly used for rental housing and have different characteristics from residential houses. Residential land prices have different characteristics depending on the price level, and it is necessary to consider this in the evaluation of the collateral value and the drafting of real estate policy.

• Management & Information Systems Review
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• v.37 no.3
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• pp.27-47
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• 2018

In this study, we examine how land use zoning affects the land price controlling other variables such as road-facing condition of the land, land form, land age after its development and land size. We employ geographically weighted regression analysis which reflects spatial dependency as methodology with a data sample of land transaction price data of Jangyu, a new town, in Korea. The results of our empirical analysis show that the respective coefficients of traditional regression and geographically weighted regression are not significantly different. However, after calculating Moran's Index with residuals of both OLS and GWR models, we find that Moran's Index of GWR decreases around 26% compared to that of OLS model, thus improving the problem of spatial autoregression of residuals considerably. Unlike our expectation, though, in both traditional regression and geographically weighted regression where residential exclusive area is used as a reference variable, the dummy variable of the residential land for both housing and shops shows a negative sign. This may be because the residential land for both housing and shops is usually located in the level area while the residential exclusive area is located at the foot of a mountain or on a gentle hill where the residents can have good quality air and scenery. Although the utility of the residential land for both housing and shops is higher than its counterpart's since it has higher floor area ratio, amenity which can be explained as high quality of air and scenery in this study seems to have higher impact in purchase of land for housing. On the other hand, land for neighbourhood living facility seems to be valued higher than any other land zonings used in this research since it has much higher floor area ratio than the two land zonings above and can have a building with up to 5 stories constructed on it. With regard to road-facing condition, land buyers seem to prefer land which faces a medium-width road as expected. Land facing a wide-width road may have some disadvantage in that it can be exposed to noise and exhaust gas from cars and that entrance may not be easy due to the high speed traffic of the road. In contrast, land facing a narrow road can be free of noise or fume from cars and have privacy protected while it has some inconvenience in that entrance may be blocked by cars parked in both sides of the narrow road. Finally, land age variable shows a negative sign, which means that the price of land declines over time. This may be because decline of the land price of Jangyu was bigger than that of other regions in Gimhae where Jangyu, a new town, also belong, during the global financial crisis of 2008.