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The Justification for Land Bank under Stable Real Estate Prices

  • Korea Real Estate Review
  • 2014, 24(3), pp.75-86
  • Publisher : korea real estate research institute
  • Research Area : Social Science > Law > Law of Special Parts > Law of Real Estate

김미숙 1 Ryoonhee Kim 2 Sang-Hak Park 1 Yongho Lim 3 Minju Lee 4

1토지주택연구원
2한국토지주택공사 토지주택연구원
3서울대학교
4서울시립대학교

Accredited

ABSTRACT

As soon as Land Bank started at the end of the 2000s, Land Price Fluctuation was reduced significantly nationwide. The aim of the study is to determine whether the Land Banking System should go on with its banking projects. We explore how land price fluctuations change in the around its district after and before releasing the public development projects in the late 2000s. Employing GIS with spatial correlation techniques, we analysis the HH type only of four types classified with clustering by the amount of annual rate of land price. HH means that the land price fluctuation of the parcel is high with its neighborhoods representing high value. The results are as follows. First, there are clusters with HH type in the target area even recently. Second, the classifications of the land with HH are a rice field, a farm, a forest and a lot. Third, the lands which have the rate of change with more than 30% are scattered across the project districts in the Gyeongnam Province where a lot of land demand for production activity exist. Land banking should be implemented in the regions with the expectation of the derived demand selectively.

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