• Journal of the Korea institute for structural maintenance and inspection
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• v.9 no.2
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• pp.163-172
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• 2005

This study aims to evaluate the feasibility of remodeling business by predicting the future price of apartment house after remodeling using Hedonic Price Model. The data concerning such 9 independent variables as location, unit size, unit plan, landscape, parking, the number of elapsed years after completion, number of units, mechanical performance, interior from 25 regions in Seoul metropolitan city were collected and evaluated by established evaluation criteria. The coefficients affecting the price of apartment unit were made by way of linear multi-regression and put into Hedonic Price Model. The feasibility evaluation model for apartment was made and verified by data of remodelled apartment. The predicted results using suggested evaluation model coincide with actual apartment market situations.

• Journal of Korean Society for Geospatial Information Science
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• v.22 no.1
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• pp.63-70
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• 2014

This study is to analyze impact of geography and timing on the real transactions prices of apartment complexes in Seoul using data provided by the Ministry of Land, Infrastructure and Transport. The average real transactions and location data of apartment complex was combined into the GIS data. First, the pattern of apartment real transaction price change by period and by area was analyzed by kriging, the one of the spatial interpolation technique. Second, to analyze the pattern of apartment market price change by administrative district(administrative 'Dong' unit), the average of market price per unit area was calculated and converted to Moran I value, which was used to analyze the clustering level of the real transaction price. Through the analysis, spatial-temporal distribution pattern can be found and the type of change can be forecasted. Therefore, this study can be referred as of the base data research for the housing or local policies. Also, the regional unbalanced apartment price can be presented by analyzing the vertical pattern of the change in the time series and the horizontal pattern of the change based on GIS.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.6
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• pp.517-524
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• 2020

The study examines factors affecting apartment prices in the real estate market of Ho Chi Minh City, Vietnam. The study uses primary data based on surveys of customers who have traded successfully, and collects transaction data from real estate trading companies that are the top investors in Ho Chi Minh City real estate market. The collected data include 384 observations in a total of 24 districts, detailing that each district surveyed on a minimum of four projects, each project carried out a survey on a minimum of four apartments. The survey collected 339 valid questionnaires for analysis and model testing. This study employs multivariate regression with the data of 339 observations. The research results reveal that five significant factors affect positively the price of apartments in Ho Chi Minh City - apartment area, toilet and bedroom, apartment floor, reference price, and apartment interior. Besides, there are three significant factors affecting negatively the price of apartments - next price trend, distance to city center, and potential building. From the results, the research proposes solutions in the pricing of apartments in the real estate market in Ho Chi Minh City - better information system, a real estate transaction index, and stricter management of small brokerage activities.

• Journal of the Korean Data and Information Science Society
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• v.28 no.6
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• pp.1471-1479
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• 2017

The variability of trade price index of apartment influences on the various aspect, especially economics, social phenomenon, industry, and culture of the country. In this article, the autoregressive error (ARE) model has been considered for analyzing the monthly trading price index of apartment data. About 16 years of the monthly data have been used from September 2001 to May 2017. In the ARE model, six macroeconomic variables are used as the explanatory variables for the rade price index of apartment. The six explanatory variables are mortgage rate, oil import price index, consumer price index, KOSPI stock index, GDP, and GNI. The result has shown that trading price index of apartment explained about 76% by the mortgage rate, and KOSPI stock index.

• Korean Journal of Construction Engineering and Management
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• v.20 no.5
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• pp.3-11
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• 2019

This study is designed to examine the stock price of construction firms which are affected by the deregulation of new apartment sales price. As empirical methodology, it uses the traditional event study analysis to test the influence of the deregulation of new apartment sales price and the regression analysis to test which variables are related. The results of this study are summarized as follows : First, the cumulative abnormal return of stock is positive when government announced the deregulation of new apartment sales price. The cumulative abnormal return of stock for 21 trading day before -10 to +10 day is 25.51% which is significant different from zero at 1 percent level. This result suggests that the deregulation of new apartment sales price conveys good information to stock market that the firms performance will be good in the future. Second, in the regression analysis this study shows that the cumulative abnormal return of stock is related to firm's profit margin ratio.

• KIEAE Journal
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• v.10 no.5
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• pp.159-164
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• 2010

High-rising buildings are a sort of solution to recent cities. Till now real estate development was concentrated in new development on vacant lots, and it resulted urban sprawl. Generally large cities are confronted with the exodus of industry and population from city. High-rising buildings solve many problems associated with this problem. The purpose of this research is to identify the effect of super high-rise mixed use building project process on apartment price. For this study, the hypothesis is that price of apartments is influenced by project process of super high-rise mixed use building. The study concerned 4 variations of project process that is building permits stage, sale stage, construction starting stage and stage of moving into building. The target projects of buildings are selected by number of floor(over 40 floors) and construction time. And 48 apartment complex are selected around super high-rise mixed use building. This study uses hedonic price function to analysis effect of project process of super high-rise mixed use building. A price of apartments is defined as a dependent variable. Characteristics of residence, complex, district and super high-rise building are defined as independent variables. The results are as follows; first, there is no error in price model of this study. Second, it is found that apartment price was influenced negatively by building permit stage and sale stage of super high-rise mixed use building. But that was influenced positively by construction starting stage and stage of moving into building of that. Third, as the project process of super high-rise mixed use building was proceeded, price of apartments was increased.

• Korean Journal of Construction Engineering and Management
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• v.15 no.4
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• pp.86-94
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• 2014

Since the late 1990s, mixed-use apartment, armed with high qualities and large scales with a high ratio of TFA(Total Floor Area) have been continuously provided accommodating exclusive community facilities along with high-tech securities, not to mention excellent skyline view. However, especially in mid-small cities, there have been only a few supplies. As a result, none of the mixed-use housing provided by high-end brands has ever been built in non-metropolitan area. But constructors couldn't plan the projects which aims to build the mixed-use apartment in local city, because they couldn't get the basic data or advanced research for feasibility analysis. Therefore, to suggest the useful price for mixed-use apartment supply project of local city, the PSM(Price Sensitivity Method) widely used for determining the price preferences as a market research tools has been applied. As analysis results, the estimated price of mixed-use apartment is 10.8% higher than general apartment, and mixed-use apartment has lower price sensitivity than general apartment. As price determinants, the age, education level and family size influence on UTP in significant level. It is expected that these research findings can be applied for establishing the solid marketing strategy of mixed-use apartment development project in local city.

• Journal of Digital Convergence
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• v.20 no.3
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• pp.231-240
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• 2022

This study empirically analyzed the effect of complex commercial facilities on the price of nearby apartments in a Hedonic price model. The spatial range of this study was the walking area of H Department Store located in Pangyo among the second new towns suburb of Seoul, and the time range was 2020. The dependent variable was the real transaction price of the apartment, and independent variable were the characteristics of the housing, the characteristics of the complex, and the characteristics of the region. As a result of the analysis, the area of exclusive use space, the transaction floor, and the highway accessibility had a positive effect on the price of the apartment, and the elapsed year had a negative effect on the price of the apartment. However, the size of the apartment had little effect on apartment prices, and the distance from the complex commercial facilities was shown to be related to apartment prices, indicating that apartment prices declined as it moved away from the complex commercial facilities. Therefore, this is much more influential than the influence of distance from subway stations on apartment price. This confirms that the effect factors of apartment prices and the size of their influence appear differently in the new town area and the existing metropolitan area.

• Journal of the Korean housing association
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• v.22 no.5
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• pp.47-57
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• 2011

The purpose of this research is to demonstrate the necessity of conserving and maintaining eco-parks by estimating their economic value. Wonheung-ee Park in Sannam 3 District of Cheongju City was chosen as the subject and a quantitative estimation was conducted. The quantitative analysis utilized the hedonic price model that estimates the value of non-market goods. The summarized results of this study are follows. The subject park influenced the prices of its neighboring apartments. The most important factor was the distance between the park and the subject apartment. When the distance was longer than 400m, the impact was greatest. The quantitative assessment also showed that apartment prices and the distance between an apartment and the park had a negative relationship. When the distance increased by 1%, apartment prices decreased by 0.430%. This means that within a certain distance, the closer an apartment is to the park, the higher is the price. Demonstrating the economic value of eco-parks, this study also supports the importance of preserving eco-areas. It generally shows that when we develop a city, we should refrain destroying the ecosystem.

• Journal of Digital Convergence
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• v.14 no.1
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• pp.121-129
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• 2016

The purpose of this study is to set a standard for sale prices of supplying apartment houses about decision factors in sale price of supplying apartment houses using Analytic Hierarchy Process. This is done by modeling decision factors in sale price of supplying apartment houses as hierarchy. According to the modeled hierarchy, the relative importance of supplying factors are determined using a survey of a group of real estate experts. In addition, through Analytic Hierarchy Process, the relative importance of phased sale prices of supplying apartment is analyzed in order to set a standard to estimate competitive sale prices of newly supplying apartment houses.