@article{ART003318633},
author={Choi, Su Hyun and Shin, Bo Yeon and Yoo, Seon Jong},
title={Evaluation of Value Depreciation Due to Internal Columns in Retail Properties},
journal={Korea Real Estate Review},
issn={2092-5395},
year={2026},
volume={36},
number={1},
pages={73-89},
doi={10.35136/krer.36.1.4}
TY - JOUR
AU - Choi, Su Hyun
AU - Shin, Bo Yeon
AU - Yoo, Seon Jong
TI - Evaluation of Value Depreciation Due to Internal Columns in Retail Properties
JO - Korea Real Estate Review
PY - 2026
VL - 36
IS - 1
PB - korea real estate research institute
SP - 73
EP - 89
SN - 2092-5395
AB - Although internal columns in retail properties are essential structural elements, they can significantly reduce property value by hindering openness and spatial utility. However, the current appraisal standards are limited to environmental factors, leaving no specific criteria for quantitatively assessing the value depreciation caused by internal structural defects. Accordingly, this study comprehensively analyzed three core dimensions of retail value formation: depth rules, visibility, and circulation efficiency. Building on these theoretical considerations, a valuation model is developed to calculate the value depreciation rate by integrating the impairment rates of “Space Utilization,” “Visual Accessibility,” and “Circulation Efficiency” to overcome the limitations of existing appraisal methods. The empirical analysis demonstrated that the proposed model exhibited high explanatory power and statistical significance, and that there was no significant difference between the predicted values and the actual appraisal amounts, thereby verifying its unbiased accuracy and objectivity. This study has both academic and practical significance as it presents objective, quantitative appraisal guidelines by integrating spatial, visual, and circulation theories.
KW - Retail Properties;Internal Columns;Value Depreciation Rate;Evaluation Method
DO - 10.35136/krer.36.1.4
ER -
Choi, Su Hyun, Shin, Bo Yeon and Yoo, Seon Jong. (2026). Evaluation of Value Depreciation Due to Internal Columns in Retail Properties. Korea Real Estate Review, 36(1), 73-89.
Choi, Su Hyun, Shin, Bo Yeon and Yoo, Seon Jong. 2026, "Evaluation of Value Depreciation Due to Internal Columns in Retail Properties", Korea Real Estate Review, vol.36, no.1 pp.73-89. Available from: doi:10.35136/krer.36.1.4
Choi, Su Hyun, Shin, Bo Yeon, Yoo, Seon Jong "Evaluation of Value Depreciation Due to Internal Columns in Retail Properties" Korea Real Estate Review 36.1 pp.73-89 (2026) : 73.
Choi, Su Hyun, Shin, Bo Yeon, Yoo, Seon Jong. Evaluation of Value Depreciation Due to Internal Columns in Retail Properties. 2026; 36(1), 73-89. Available from: doi:10.35136/krer.36.1.4
Choi, Su Hyun, Shin, Bo Yeon and Yoo, Seon Jong. "Evaluation of Value Depreciation Due to Internal Columns in Retail Properties" Korea Real Estate Review 36, no.1 (2026) : 73-89.doi: 10.35136/krer.36.1.4
Choi, Su Hyun; Shin, Bo Yeon; Yoo, Seon Jong. Evaluation of Value Depreciation Due to Internal Columns in Retail Properties. Korea Real Estate Review, 36(1), 73-89. doi: 10.35136/krer.36.1.4
Choi, Su Hyun; Shin, Bo Yeon; Yoo, Seon Jong. Evaluation of Value Depreciation Due to Internal Columns in Retail Properties. Korea Real Estate Review. 2026; 36(1) 73-89. doi: 10.35136/krer.36.1.4
Choi, Su Hyun, Shin, Bo Yeon, Yoo, Seon Jong. Evaluation of Value Depreciation Due to Internal Columns in Retail Properties. 2026; 36(1), 73-89. Available from: doi:10.35136/krer.36.1.4
Choi, Su Hyun, Shin, Bo Yeon and Yoo, Seon Jong. "Evaluation of Value Depreciation Due to Internal Columns in Retail Properties" Korea Real Estate Review 36, no.1 (2026) : 73-89.doi: 10.35136/krer.36.1.4
