An Empirical Analysis on Determinants of Office RentsUsing Hierarchical Linear Model in Seoul Metropolitan Area

전기석; Hyun Seok Lee

Hedonic Price Function, as the usually used method, to evaluate the office rent has known for having a demerit that it cannot reflect the multi-leveled or nested nature of social science data. Therefore, it is necessary to introduce the new method that can reflect the regional characteristic of the space where offices integrate. This study attempts to analyze the determinants of office rent considering the regional characteristic and to bring up the new methodology for evaluating the office rent by using hierarchical linear model(HLM). As a result of analysis, HLM function proves that the coefficients have the different value as the regional characteristic changes. At the view of the ability to measure the office rent, HLM is more powerful than hedonic price function in spite of the exception of the floor to area ratio variable.

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* 2021년 이후 발행 논문의 참고문헌은 현재 구축 중입니다.

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