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Factors Affecting the Appropriateness of Forest Land Transaction Price and Officially Assessed Land Price in Six Districts in Southern and Northern Parts of Han River in Seoul

  • Korea Real Estate Review
  • 2018, 28(4), pp.63-73
  • DOI : 10.35136/krer.28.4.5
  • Publisher : korea real estate research institute
  • Research Area : Social Science > Law > Law of Special Parts > Law of Real Estate
  • Published : December 31, 2018

김학준 1 You, Ju-Yeun 1

1상명대학교

Accredited

ABSTRACT

The purpose of this study is to identify the key factors affecting official land values and the appropriateness of the assessed land price, to find out what determines the real estate price and to assess the appropriateness of the valuation. This study explored whether actual transaction prices of forest land located in six Gu districts in southern and northern parts of Han river are appropriate using independent sample t-analysis and logistic regression analysis. Results showed that regional differences and shape were adequate for development restriction areas, whether biotope was designated, whether or not to be preserved, differences in pitch, and differences in use, and differences in bearing and approach. Thorough analysis of unique factors that determine forest land prices must be carried out in advance and the findings should be applied to the examination and assessment of official land values. The forest land appraisal system is closely related to the public’s economic activity, thus it is necessary to apply forest land value determinants considered to be significant by market participants to the forestland appraisal system. I look forward to seeing variables related to the appropriateness of forest land transactions drawn from this study being used as indices for settlement of forest land transaction orders and market stabilization.

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