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A Study on the Rent Determinants of Retail Property in Seoul

  • Korea Real Estate Review
  • 2006, 16(2), pp.31-48
  • Publisher : korea real estate research institute
  • Research Area : Social Science > Law > Law of Special Parts > Law of Real Estate

Seung Chul Yang 1 Sung Won Lee 1

1(재)한국부동산연구원

Candidate

ABSTRACT

This paper examined the determinants of retail property rent. To make out variables that affect retail property rent, this paper reviewed the literatures on the determinants of retail property. And then proposed appropriate variables to the Two Stage Least Squares model to analysis what determines the rent of retail properties. In this paper, authors made empirical analysis for the determinants of retail properties rent in Seoul, Korea. Variables such as an age, building size, building structure, road condition, building location(CBD, Gangnam), population density, the number of whole sale and retail were significant in retail model. But vacancy rate was not significant in our model. This shows that the relation between rent and vacancy rate is not obvious in cross section analysis.

Citation status

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