@article{ART001613497},
author={박종기 and Lee, Sang Kyeong and 강승일},
title={Determinants of Office Prices -Focus on Transaction Factors and Spatial Autocorrelation-},
journal={Korea Real Estate Review},
issn={2092-5395},
year={2011},
volume={21},
number={3},
pages={91-108}
TY - JOUR
AU - 박종기
AU - Lee, Sang Kyeong
AU - 강승일
TI - Determinants of Office Prices -Focus on Transaction Factors and Spatial Autocorrelation-
JO - Korea Real Estate Review
PY - 2011
VL - 21
IS - 3
PB - korea real estate research institute
SP - 91
EP - 108
SN - 2092-5395
AB - The purpose of this paper is to analyze determinants of office prices in Seoul city, focusing on transaction factors and spatial autocorrelation. I established various hedonic price models and spatial econometric models for data transacted from 2000 to 2009. It is turned out that the transaction factors, such as experience of transaction, part transaction and the combination of investors and investment methods impact on prices. Some location and structure characteristics are significant impact factors. The price of office in CBD is higher than Gangnam and Yeoido region. The height of building, lot area and steel framed reinforced concrete construction give positive impacts on prices but the distance of subway station and the age of building give negative impacts. The existence of spatial autocorrelation is verified by using spatial autoregressive model(SAR) and spatial autocorrelation model(SEM) and additionally Moran’s I test, LM error test, LR test, Wald test. This suggests that spatial autocorrelation should be taken into account when analyzing determinants of office prices. I think this findings may be useful when buying or selling offices.
KW - determinants of office prices;transaction factors;spatial autocorrelation
DO -
UR -
ER -
박종기, Lee, Sang Kyeong and 강승일. (2011). Determinants of Office Prices -Focus on Transaction Factors and Spatial Autocorrelation-. Korea Real Estate Review, 21(3), 91-108.
박종기, Lee, Sang Kyeong and 강승일. 2011, "Determinants of Office Prices -Focus on Transaction Factors and Spatial Autocorrelation-", Korea Real Estate Review, vol.21, no.3 pp.91-108.
박종기, Lee, Sang Kyeong, 강승일 "Determinants of Office Prices -Focus on Transaction Factors and Spatial Autocorrelation-" Korea Real Estate Review 21.3 pp.91-108 (2011) : 91.
박종기, Lee, Sang Kyeong, 강승일. Determinants of Office Prices -Focus on Transaction Factors and Spatial Autocorrelation-. 2011; 21(3), 91-108.
박종기, Lee, Sang Kyeong and 강승일. "Determinants of Office Prices -Focus on Transaction Factors and Spatial Autocorrelation-" Korea Real Estate Review 21, no.3 (2011) : 91-108.
박종기; Lee, Sang Kyeong; 강승일. Determinants of Office Prices -Focus on Transaction Factors and Spatial Autocorrelation-. Korea Real Estate Review, 21(3), 91-108.
박종기; Lee, Sang Kyeong; 강승일. Determinants of Office Prices -Focus on Transaction Factors and Spatial Autocorrelation-. Korea Real Estate Review. 2011; 21(3) 91-108.
박종기, Lee, Sang Kyeong, 강승일. Determinants of Office Prices -Focus on Transaction Factors and Spatial Autocorrelation-. 2011; 21(3), 91-108.
박종기, Lee, Sang Kyeong and 강승일. "Determinants of Office Prices -Focus on Transaction Factors and Spatial Autocorrelation-" Korea Real Estate Review 21, no.3 (2011) : 91-108.
