@article{ART002359097},
author={Myeong-Han Yu and Chang-Moo Lee},
title={An Analysis on Determinants that Affect the Sale Price of an Office Building in Seoul after Focusing on Strata Property Sales},
journal={Korea Real Estate Review},
issn={2092-5395},
year={2018},
volume={28},
number={2},
pages={7-20},
doi={10.35136/krer.28.2.1}
TY - JOUR
AU - Myeong-Han Yu
AU - Chang-Moo Lee
TI - An Analysis on Determinants that Affect the Sale Price of an Office Building in Seoul after Focusing on Strata Property Sales
JO - Korea Real Estate Review
PY - 2018
VL - 28
IS - 2
PB - korea real estate research institute
SP - 7
EP - 20
SN - 2092-5395
AB - This paper has statistically analyzed the determining factors that affect office building sale prices by focusing on strata property sales through the hedonic price function. In this study, 1,171 office building transaction cases were analyzed in Seoul from 2000 to 2017. To determine the influence of various factors on office building sale prices, independent variables included factors that represented macroeconomic characteristics, locational characteristics, physical characteristics, and deal characteristics. The analysis of the strata property sales, which is a major concern in this study, showed that strata property sales enjoyed a discount of about 1.56 million won per pyeong out of the entire sales. In terms of the discount rate, strata property sales were at a 12.6% discount compared to entire property sales, so it was found that strata property sales significantly influenced office building selling price. This is due to the fact that the owner of the strata property encounters more difficulties in distributing cost than the sole proprietor in terms of property rights and the exercise of management rights. The results of this study are expected to contribute in securing transparency in transactions and risk management strategies in the future.
KW - sale price of office building;hedonic price model;strata property sales
DO - 10.35136/krer.28.2.1
ER -
Myeong-Han Yu and Chang-Moo Lee. (2018). An Analysis on Determinants that Affect the Sale Price of an Office Building in Seoul after Focusing on Strata Property Sales. Korea Real Estate Review, 28(2), 7-20.
Myeong-Han Yu and Chang-Moo Lee. 2018, "An Analysis on Determinants that Affect the Sale Price of an Office Building in Seoul after Focusing on Strata Property Sales", Korea Real Estate Review, vol.28, no.2 pp.7-20. Available from: doi:10.35136/krer.28.2.1
Myeong-Han Yu, Chang-Moo Lee "An Analysis on Determinants that Affect the Sale Price of an Office Building in Seoul after Focusing on Strata Property Sales" Korea Real Estate Review 28.2 pp.7-20 (2018) : 7.
Myeong-Han Yu, Chang-Moo Lee. An Analysis on Determinants that Affect the Sale Price of an Office Building in Seoul after Focusing on Strata Property Sales. 2018; 28(2), 7-20. Available from: doi:10.35136/krer.28.2.1
Myeong-Han Yu and Chang-Moo Lee. "An Analysis on Determinants that Affect the Sale Price of an Office Building in Seoul after Focusing on Strata Property Sales" Korea Real Estate Review 28, no.2 (2018) : 7-20.doi: 10.35136/krer.28.2.1
Myeong-Han Yu; Chang-Moo Lee. An Analysis on Determinants that Affect the Sale Price of an Office Building in Seoul after Focusing on Strata Property Sales. Korea Real Estate Review, 28(2), 7-20. doi: 10.35136/krer.28.2.1
Myeong-Han Yu; Chang-Moo Lee. An Analysis on Determinants that Affect the Sale Price of an Office Building in Seoul after Focusing on Strata Property Sales. Korea Real Estate Review. 2018; 28(2) 7-20. doi: 10.35136/krer.28.2.1
Myeong-Han Yu, Chang-Moo Lee. An Analysis on Determinants that Affect the Sale Price of an Office Building in Seoul after Focusing on Strata Property Sales. 2018; 28(2), 7-20. Available from: doi:10.35136/krer.28.2.1
Myeong-Han Yu and Chang-Moo Lee. "An Analysis on Determinants that Affect the Sale Price of an Office Building in Seoul after Focusing on Strata Property Sales" Korea Real Estate Review 28, no.2 (2018) : 7-20.doi: 10.35136/krer.28.2.1
1
