@article{ART003214207},
author={Bae, Myung Suk and Suh, Jeong Yeal},
title={A Study on the Determinants of Apartment Price and Brand Value : Focusing on the Micro-characteristics of the Upper and Lower Prices in Dongnae-gu, Busan},
journal={Korea Real Estate Review},
issn={2092-5395},
year={2025},
volume={35},
number={2},
pages={23-43}
TY - JOUR
AU - Bae, Myung Suk
AU - Suh, Jeong Yeal
TI - A Study on the Determinants of Apartment Price and Brand Value : Focusing on the Micro-characteristics of the Upper and Lower Prices in Dongnae-gu, Busan
JO - Korea Real Estate Review
PY - 2025
VL - 35
IS - 2
PB - korea real estate research institute
SP - 23
EP - 43
SN - 2092-5395
AB - This study analyzes the determinants of apartment prices and brand differences in Oncheon-dong (an upper-price area) and Allak-dong (a lower-price area), local submarkets located in Dongnae-gu, Busan, under the situation of double polarization. It also investigates the gap between regions in Seoul and the metropolitan area and provinces. The apartment sales price per 3.3㎡ was used as a dependent variable for the total number of apartment transactions in the region over the past five years, during the period of price increase and decrease starting in 2019. An individual cross-sectional multiple regression analysis for 5 years was conducted and compared using 12 independent variables reflecting structure, complex, location, and brand characteristics. The analysis revealed that five variables, including brand, were statistically significant. Regarding apartment brands, Oncheon-dong showed a positive effect on apartment prices (2019) and an early decline (2022), with no negative effect or statistical significance. On the other hand, the price of nonbranded apartments increased due to the negative effect, regardless of the period of increase or decrease. This means that even for nonbranded apartments, favorable developments such as the opening of new subways can affect apartment prices. These results can be used as a marketing appeal in the local real estate market, which has relatively low business feasibility or presale potential due to continuous population decline.
KW - Regional Submarket;Apartment Price Gap;Apartment Brand;Double Polarization;Differentiation Strategy
DO -
UR -
ER -
Bae, Myung Suk and Suh, Jeong Yeal. (2025). A Study on the Determinants of Apartment Price and Brand Value : Focusing on the Micro-characteristics of the Upper and Lower Prices in Dongnae-gu, Busan. Korea Real Estate Review, 35(2), 23-43.
Bae, Myung Suk and Suh, Jeong Yeal. 2025, "A Study on the Determinants of Apartment Price and Brand Value : Focusing on the Micro-characteristics of the Upper and Lower Prices in Dongnae-gu, Busan", Korea Real Estate Review, vol.35, no.2 pp.23-43.
Bae, Myung Suk, Suh, Jeong Yeal "A Study on the Determinants of Apartment Price and Brand Value : Focusing on the Micro-characteristics of the Upper and Lower Prices in Dongnae-gu, Busan" Korea Real Estate Review 35.2 pp.23-43 (2025) : 23.
Bae, Myung Suk, Suh, Jeong Yeal. A Study on the Determinants of Apartment Price and Brand Value : Focusing on the Micro-characteristics of the Upper and Lower Prices in Dongnae-gu, Busan. 2025; 35(2), 23-43.
Bae, Myung Suk and Suh, Jeong Yeal. "A Study on the Determinants of Apartment Price and Brand Value : Focusing on the Micro-characteristics of the Upper and Lower Prices in Dongnae-gu, Busan" Korea Real Estate Review 35, no.2 (2025) : 23-43.
Bae, Myung Suk; Suh, Jeong Yeal. A Study on the Determinants of Apartment Price and Brand Value : Focusing on the Micro-characteristics of the Upper and Lower Prices in Dongnae-gu, Busan. Korea Real Estate Review, 35(2), 23-43.
Bae, Myung Suk; Suh, Jeong Yeal. A Study on the Determinants of Apartment Price and Brand Value : Focusing on the Micro-characteristics of the Upper and Lower Prices in Dongnae-gu, Busan. Korea Real Estate Review. 2025; 35(2) 23-43.
Bae, Myung Suk, Suh, Jeong Yeal. A Study on the Determinants of Apartment Price and Brand Value : Focusing on the Micro-characteristics of the Upper and Lower Prices in Dongnae-gu, Busan. 2025; 35(2), 23-43.
Bae, Myung Suk and Suh, Jeong Yeal. "A Study on the Determinants of Apartment Price and Brand Value : Focusing on the Micro-characteristics of the Upper and Lower Prices in Dongnae-gu, Busan" Korea Real Estate Review 35, no.2 (2025) : 23-43.
