@article{ART001861433},
author={이동원 and Su Yeon Jung},
title={Research into the Effect of Jeju Olle Tails on Nearby Land Prices using Feasirable Generalized Least Squares},
journal={Korea Real Estate Review},
issn={2092-5395},
year={2014},
volume={24},
number={1},
pages={63-76}
TY - JOUR
AU - 이동원
AU - Su Yeon Jung
TI - Research into the Effect of Jeju Olle Tails on Nearby Land Prices using Feasirable Generalized Least Squares
JO - Korea Real Estate Review
PY - 2014
VL - 24
IS - 1
PB - korea real estate research institute
SP - 63
EP - 76
SN - 2092-5395
AB - This study utilizes FGLS (Feasible Generalized Least Squares) to determine the impact of Jeju Olle trekking courses on nearby land prices. Official 2010 land price data for 7 areas surrounding different Jeju Olle Trails was examined with a GIS program to determine the exact distance of land parcels from nearby trekking courses. Distance and various other pricing factors were used as explanatory variables for increases in land prices. The dependent variable was the rate of change in land prices from 2002 to 2010.
Unlike existing studies which have examined the effect of highways, subways and other transportation facilities on land prices, this paper examines the effect of Korea's first-ever trekking courses on nearby land prices. This study concludes that 7 different Olle Trails exert a significant influence on nearby land prices and that land prices decrease by 0.03% per meter as plots get further and further from Olle Trails. This result shows that not only transport infrastructure (highways, subways, etc.) but also non-traffic infrastructure such as Jeju Olle Trails and trekking courses can have positive effects on local real estate markets.
KW - jeju olle;tracking course;trail tourism;land price function;feasiable generalized least square
DO -
UR -
ER -
이동원 and Su Yeon Jung. (2014). Research into the Effect of Jeju Olle Tails on Nearby Land Prices using Feasirable Generalized Least Squares. Korea Real Estate Review, 24(1), 63-76.
이동원 and Su Yeon Jung. 2014, "Research into the Effect of Jeju Olle Tails on Nearby Land Prices using Feasirable Generalized Least Squares", Korea Real Estate Review, vol.24, no.1 pp.63-76.
이동원, Su Yeon Jung "Research into the Effect of Jeju Olle Tails on Nearby Land Prices using Feasirable Generalized Least Squares" Korea Real Estate Review 24.1 pp.63-76 (2014) : 63.
이동원, Su Yeon Jung. Research into the Effect of Jeju Olle Tails on Nearby Land Prices using Feasirable Generalized Least Squares. 2014; 24(1), 63-76.
이동원 and Su Yeon Jung. "Research into the Effect of Jeju Olle Tails on Nearby Land Prices using Feasirable Generalized Least Squares" Korea Real Estate Review 24, no.1 (2014) : 63-76.
이동원; Su Yeon Jung. Research into the Effect of Jeju Olle Tails on Nearby Land Prices using Feasirable Generalized Least Squares. Korea Real Estate Review, 24(1), 63-76.
이동원; Su Yeon Jung. Research into the Effect of Jeju Olle Tails on Nearby Land Prices using Feasirable Generalized Least Squares. Korea Real Estate Review. 2014; 24(1) 63-76.
이동원, Su Yeon Jung. Research into the Effect of Jeju Olle Tails on Nearby Land Prices using Feasirable Generalized Least Squares. 2014; 24(1), 63-76.
이동원 and Su Yeon Jung. "Research into the Effect of Jeju Olle Tails on Nearby Land Prices using Feasirable Generalized Least Squares" Korea Real Estate Review 24, no.1 (2014) : 63-76.
