2014, Vol.24, No.4

Korea Real Estate Review 2023 KCI Impact Factor : 0.56

pISSN : 2092-5395 / eISSN : 2733-8339
https://journal.kci.go.kr/krer

The purpose of the study is to draw the issues regarding the exit strategies of the newtown and urban renewal projects of Seoul city to discuss future improvement tasks. The main results are as follows:Fisrt, measures are required for budget expansion for subsidizing sunk costs of project committees; handling the sunk costs of housing redevelopment association; a forum for discussion among the principal agents; follow-up of deductible expenses about sunk costs; government subsidy for sunk costs. Second, there is need for scale-up of government subsidy on infrastructure costs and increase of the number of the subsidy recipients, reform of the criteria of the subsidy budget distribution, and adoption of compulsory municipal support. Third, restarting a newtown or an urban renewal project after a field survey requires reduction of the administrative process period and conflict management. On the contrary, discontinuance of a project requires public management and supervision, and proposal and promotion of alternative project.

This study analyzes housing attributes that affects the housing price change rate after pre-sale acquisition. By applying hedonic price model, the study derives a regression equation whose dependent variable is price change rate. The estimation for entire Pangyo was analyzed, followed by estimation for East Pangyo and West Pangyo separately. The result for entire Pangyo shows that larger floor space had lower price change rate. Higher stories and famous housing brand had higher price change rate. Housing located on the first floor had lower price change rate. The closer location to Pangyo Interchange had positive effects on price change rate. In East Pangyo, possibility of being assigned to special purposed school had positive effects on price change rate. The distance to the elementary school showed negative effect for East Pangyo, positive effect for West Pangyo. In East Pangyo, along with insignificancy of Woonchonngchun contiguity, closer distance to Tachyon had lower price change rate indicating indifference to accessibility to environmental elements. This study shows despite new town developed at same period adjacent to each other, particular attributes had different effects causing the price change to appear differently.

The Ruhr area was an engine of economic growth in Germany since the 1900s. However, the area has gone through a serious process of de-industrialzation since the early 1970s. The City of Dortmund, a core city of the Ruhr, lost 70 thousand jobs in its traditional sectors, such as coal-mining, iron and steel-making, and brewery, during the decades between 1960 and 1990. As a result, the City has been suffering from social, economic, and environmental problems. To tackle such problems, the City has attempted innovative approaches to urban and economic regeneration since the 1990s. This paper analyses and evaluates the processes and performance of the City’s policies of urban renewal, using two case study areas: Stadtkrone Ost and Pheonix Ost/West.