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A Study on the Housing Price Change Rate after Pre-sale Acquisition : Focused on Pangyo New Town

  • Korea Real Estate Review
  • 2014, 24(4), pp.25-37
  • Publisher : korea real estate research institute
  • Research Area : Social Science > Law > Law of Special Parts > Law of Real Estate

박주연 1 박찬일 2 Seon-Jong Yoo 3

1건국대
2건국대 부동산대학원
3건국대학교

Accredited

ABSTRACT

This study analyzes housing attributes that affects the housing price change rate after pre-sale acquisition. By applying hedonic price model, the study derives a regression equation whose dependent variable is price change rate. The estimation for entire Pangyo was analyzed, followed by estimation for East Pangyo and West Pangyo separately. The result for entire Pangyo shows that larger floor space had lower price change rate. Higher stories and famous housing brand had higher price change rate. Housing located on the first floor had lower price change rate. The closer location to Pangyo Interchange had positive effects on price change rate. In East Pangyo, possibility of being assigned to special purposed school had positive effects on price change rate. The distance to the elementary school showed negative effect for East Pangyo, positive effect for West Pangyo. In East Pangyo, along with insignificancy of Woonchonngchun contiguity, closer distance to Tachyon had lower price change rate indicating indifference to accessibility to environmental elements. This study shows despite new town developed at same period adjacent to each other, particular attributes had different effects causing the price change to appear differently.

Citation status

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