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The Effect of the Peripheral Land Use Characteristics on a Determination of Housing Price: Focus on Multi-Family Housing in Ilsan New Town

임종현 1,  유진호 1,  이주형 1

1한양대학교

Accredited

ABSTRACT

This study analyzes what factors affect housing price by period and type according to land use characteristics. First of all, it has been proved through Chow-test that there is a difference in housing price structure between year 2003 and 2007. Next, it has been analyzed what factors had influenced on this difference through regression analysis. As a result, center of neighborhood in 2003 and center of city in 2007 are shown to be a determinant factor. Overall study results show not only physical characteristics variables but also land use characteristics variables , of which importance is getting greater, have a great impact on housing price. Generally, considering a great impact of physical characteristics variables of housing, the relation between land use variable and housing price has a potential value. In conclusion, not only individual characteristics of housing itself but also land use characteristics variables have an impact on price determination.

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