• The Journal of the Korea Contents Association
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• v.12 no.2
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• pp.461-471
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• 2012

The purpose of this paper is to visualize the housing market dynamics with ESDA (Exploratory Spatial Data Analysis) using MATLAB toolbox, in terms of the modeling housing market dynamics in the Busan Metropolitan City. The data are used the real housing price transaction records in Busan from the first quarter of 2006 to the second quarter of 2009. Hedonic house price model, which is not reflecting spatial autocorrelation, has been a powerful tool in understanding housing market dynamics in urban housing economics. This study considers spatial autocorrelation in order to improve the traditional hedonic model which is based on OLS(Ordinary Least Squares) method. The study is, also, investigated the comparison in terms of $R^2$, Sigma Square(${\sigma}^2$), Likelihood(LR) among spatial econometrics models such as SAR(Spatial Autoregressive Models), SEM(Spatial Errors Models), and SAC(General Spatial Models). The major finding of the study is that the SAR, SEM, SAC are far better than the traditional OLS model, considering the various indicators. In addition, the SEM and the SAC are superior to the SAR.

• 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.

• Environmental and Resource Economics Review
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• v.14 no.4
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• pp.923-941
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• 2005

Odor problem of livestock operation is important issue in a local community. I quantified the property price impact of 199 livestock operations for 3,355 housing sales in the U.S (Colorado). Spatial hedonic model was adopted to deal with spatial autocorrelation in housing market. Small beef and dairy operations, which are the traditional agricultural sector, seem to create a positive rural lifestyle amenity effect. However, the impact of livestock operation on rural residential sales turns to negative if the operation is over a certain size and species. Large hog and sheep operation seems to bring fatal economic loss from the local community perspective if it close to residential area. Livestock odor is one of the negative externality, the results provide the potential social cost of the livestock sector in the region. Policy makers may incorporate this social cost in the regional planning to minimize the social and maximize the development effect. Therefore, local officials and private individuals should carefully consider the location and characteristics of new residential properties and livestock operations alike.

• Journal of the Korea Institute of Building Construction
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• v.10 no.1
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• pp.121-126
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• 2010

When constructing housing, various factors affect the housing purchase price. These factors are considered in the whole process of construction, and the feasibility of a project is then studied based on these factors. Recently, Highest-end Housing in Gangnam has a large market ofpotential and fixed clients in the Korean construction business. However, there has been a lack of research related to the Highest-end Housing market thus far. Therefore, this paper focuseson the factors affecting the Highest-end Housing price, and the level of the effect. Ultimately, the results of this research could be used as basic information for enhancing the competitiveness between the construction companies that build villa apartments,and support the business model.

• Journal of the Korean Association of Geographic Information Studies
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• v.11 no.1
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• pp.68-79
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• 2008

Because local cities are different from large cities, they need to reflect their own characteristics of housing market. Thus in order to obtain useful implications for the establishing sound housing market in Jinju City, this paper investigated the characteristics of spatial distribution and determinant factors that affect apartment price in Jinju City. GIS representation of the apartments showed that most of old and small apartments were built in 'land readjustment project' areas executed in 1970s. On the contrary, new and large scale apartment complexes were built quite recently and distributed in the western and southern parts of the city. Next, in order to examine the factors which affect apartment price, this paper subtracted firstly several variables from the related studies. However in order to avoid multi-colinearity, variables were summarized by means of factor analysis. Then, setting apartment price as a dependant variable, 12 hedonic price models were established with 33 independent variables. As results, building age, floor area, accessibility to university and hospital, accessibility to arterial road, and stair-type building were turned out to be significant. These results will be used in making the supply and allocation plan of urban facilities and housing. Finally as conclusions this paper emphasized the need of periodic analysis of local housing market and establishing detailed housing information systems.

• Korea Real Estate Review
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• v.28 no.3
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• pp.65-77
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• 2018

The purpose of this study is to analyze the effect of the educational environment on the prices of studio apartments, known as officetels, in Korea. Since the revision of relevant laws in 2010, they have served as substitutes for residential purposes in areas suffering from housing shortage, especially where the educational environment is a significant factor. To assess the relation between the educational environment and rental rates, the hedonic price model and artificial neural networks were implemented. The national assessment of the academic performance of middle and high schools that were closest to each officetel, and the ratio of students going to special-purpose schools and private high schools were considered as independent variables. Research findings indicated that the positive effect of the dependent variable increased as the value of educational environment-related variables increased. This result could be utilized as a functional index for housing providers after considering educational environments.

• Spatial Information Research
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• v.10 no.2
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• pp.233-246
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• 2002

The purpose of this paper is to quantitatively measure the effect of location in evaluating the land value through the implementation of GIS coupled with spatial statistical analysis. We assumed that the hedonic price model, which was commonly used in modelling the land value, could not explain the spatial factor effectively. In order to add the spatial factor, the analysis of the spatial autocorrelation was used. The present project used 54 standard land price samples from 1421 parcel land values and applied Kriging to predict stochastically the unsampled values on the basis of spatial autocorrelation between location of vector data. This study confirms that the spatial variogram analysis has an advantage of predicting spatial dependence process and revealing the positive premium and the negative penality on location factor objectively.

• Korean Journal of Construction Engineering and Management
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• v.7 no.2 s.30
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• pp.162-170
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• 2006

Neural network analysis is expected to enhance the forecasting ability for the real estate market. This paper reviews definition, structure, strengths and weaknesses of neural network analysis, and verifies the applicability of neural network analysis for the real estate market. Neural network analysis is compared with regression analysis using the same sample data. The analyses model the macroeconomic parameters that influence the sales price of apartments. The results show that neural network analysis provides better forecasting accuracy than regression analysis does, what confirms the applicability of neural network analysis for the real estate market.

• The Journal of the Korea Contents Association
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• v.16 no.11
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• pp.188-198
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• 2016

In order to supply the residential land for the promotion of public welfare, it must take a land of city suburb. That land have the difference in thinking is large for the determination of land prices to a variety of development pressure and land use regulations. In the process of executing a public project, the difference of these ideas has become a cause of conflict. Therefore, through objective study for the determination of land prices, to reduce the difference of ideas is going to be a clue of conflict resolution. This study selected the case area that is typical public district of many conflict, and then fix a compensation unit price like fair price as dependent variable. The selected variables through previous studies and expert consultation was an independent variable. To analyze the impact factors of land prices in the hedonic price model. The results were analyzed by distinguishing the group on the basis of the zoning and using, whether or not the site of the building in part that there is influence variable, the aspects of accessibility and regulation in part degree of influence variable came out different results for each group. It is analyzed that it reasonable results. Add selected site assimilation of the building that have not been presented in previous studies as a variable and which was applied at a rate to a variable of road have improved in more expliction of the influence of variables.

• 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.