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A Study on Features and Price Determinants of Apartment in Changwon

  • Korea Real Estate Review
  • 2007, 17(1), pp.49-70
  • Publisher : korea real estate research institute
  • Research Area : Social Science > Law > Law of Special Parts > Law of Real Estate

Cheon in ho 1

1동아대학교

Candidate

ABSTRACT

A Study on features and determinants of apartment price in Changwon The objective of this study is to estimate the effect on the price determination of Changwon city in Gyeong Sang Nam Do. Apartment price per pyung was used as the dependent variable in the hedonic model. Explanatory variables in the model were apartment size(pyung), floor number, door type, heating type, the number of households, brand, reconstruction, construction age and distance of primary school, middle school, high school. Environment attribute were density of SO2 and CO. This study results are as following, the plus sign variables are size, floor number, door type, the number of households, brand, reconstruction. the minus sign are construction age and distance of primary school, high school. The density of SO2 and CO were also included in the model to find their negative effects on the apartment price determination.

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