A Study of the Impacts of Pedestrian Environments on Land Price in Seoul, Korea (서울시 보행환경이 토지 가격에 미치는 영향 분석)

Chang-Deok Kang (강창덕); 이현주

A Study of the Impacts of Pedestrian Environments on Land Price in Seoul, Korea

Korea Real Estate Review
2014, 24(2), pp.75-86
Publisher : korea real estate research institute
Research Area : Social Science > Law > Law of Special Parts > Law of Real Estate

Chang-Deok Kang ¹, 이현주 ²

¹중앙대학교
²중앙대학교 대학원 도시계획.부동산학과 석사과정

Accredited

ABSTRACT

This study aims to isolate the impacts of pedestrian environments on land price in Seoul. After setting the variables indicating pedestrian environments, this study attempts to analyse the effects of diverse environments on land price in 2010. The models confirm that higher land use density tends to increase the land price while the proportion of office development has a positive association with land price. The proportion of industrial development, however, is negatively associated with the price. Among walkability indices, shopping floor area index and connectivity density index generated higher premium in land price while household density index has the opposite effects. Also, the greater accessibility to open space tends to enhance the land price including residential, non-residential, and mixed land use. Among the three variables on street configuration from Space Syntax measurements, local integration and connectivity are positively associated with land price while control has negative relationship with the land price. From the outputs of this study, urban planners, designers, and real estate developers will obtain the insight on how to build pedestrian environments for more sustainable city and successful real estate development.

KEYWORDS

pedestrian environments, land price, muiltilevel regression model, Seoul

Citation status

* References for papers published after 2023 are currently being built.

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