2016, Vol.26, No.1

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 this study investigates the influence of consumer sentiment on apartment transaction through Hierarchical Linear Modeling (HLM). Consumers’ perceived current housing prices and future expectations toward their housing prices were used as a consumer sentiment factor in order to explain the apartment transaction volume. Two-levels HLM was conducted in terms of cities and counties level (1-level) and metropolitan and megalopolis level (2-level). The results showed that 61.4% of apartment transaction volume was explained on 1-level. At the 1-level, the variables of consumers’ current perceived housing prices and future expectations toward their housing prices were significantly negatively associated with the apartment transaction volume. However, consumer’ perceived current housing price had a negative association with apartment transaction volume at the 2-level. In addition, future expectation toward their housing prices and consumer sentiment index had a positive association with apartment transaction volume. Therefore, this study suggests that consumer sentiment variables including consumers’ perceived current housing prices and future expectations are likely to be important factors to explain apartment transaction volume as well as an economic variable such as Consumer Price Index.

This study analyzes the effects of real estate-related factors and service-related factors on customer satisfaction with outdoor golf driving ranges, in line with customer patterns based on sex and age. It utilizes the results of a questionnaire submitted to users of the outdoor driving range located. To attain the goal of this study, we select as independent variables locational characteristics (accessibility and visibility), facility characteristics (spatiality and convenience) and service characteristics (responsiveness, reliability, empathy and speciality), with customer satisfaction as our dependent variable. We find that, in the group of customers as a whole, all factors have statistically significant influences, with responsiveness and spatiality showing relatively big influences. Across the two gender groups (men and women) and the three age groups (thirties, forties, fifties), the statistically significant factors differ. Among all groups, including customers as a whole, responsiveness has a statistically significant high influence in five groups, and spatiality in four groups. According to the results of this paper, for more efficient customer marketing the outdoor driving range may focus first on the responsiveness and the spatiality factors for all kinds of customer groups, and may focus on the other factors depending upon the various customer group patterns.

This study dealt with the residual land depreciation by current land compensation law in terms of just compensation. First, I recognize the requirements of the residual land compensation by the current land compensation law. I suggest ‘the same land owner’ should be judged in terms of practical use and ‘usage’ should be judged in terms of the highest and best use. In addition, ‘the scope of depreciation’ must include not only direct loss but also indirect loss. I show the two appraisal method of residual land depreciation called ‘Before-after comparison method’ and ‘Individual summation method'. The analytical results present that there is no difference between two methods. The main controversial matters of residual land depreciation 'the value basis point' is more appropriate consultation time than the time of land taken. In addition, depreciation loss claims procedure is independent with expanding rewards and cost of construction compensation. In the situation of discussed inactive for residual land depreciation, this study presents the real examples it leads to more active discussion.