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The Impact of Plan Characteristics of Residential Land Development Project on Inner Land Price Change

택지개발사업의 계획특성이 사업지구 지가변동에 미치는 영향

  • Received : 2016.07.14
  • Accepted : 2016.08.11
  • Published : 2016.08.31

Abstract

The purpose of this study is to analyze the impact which the plan characteristics of Residential Land Development Projects have on land price changes in the project district and to derive policy implications for the efficient promotion of these projects. For this purpose, we analyzed the promotion land price change progress of Residential Land Development Projects step-by-step. After theoretical consideration and a review of the references, 16 plan characteristics of Residential Land Development Projects affecting land price changes were selected ((1) The rate of land price change, (2) Business area, (3) Residential land ratio, (4) Commercial land ratio, (5) Semi-residential land ratio, (6) Neighborhood facilities land ratio, (7) Apartment house ratio, (8) Street ratio, (9) Park & green ratio, (10) Ratio of land for schools, (11) Site development cost for $1m^2$, (12) General residential area ratio, (13) Semi-residential area ratio, (14) Commercial area ratio, (15) Semi-Industrial area ratio, and Natural green area ratio). We used SPSS Version 20.0 to analyze the impact of the 16 selected plan characteristics on the land price changes. As a result, it was found that the land price began to rise two years (before/after?) the appointment of the district and became stabilized after the completion of the project. The plan characteristics that affect the land price changes were found to be the (2) Business area, (4) Commercial land ratio, (6) Neighborhood facilities land ratio, (8) Street ratio, (11) Site development cost for $1m^2$, and (12) General residential area ratio.

Keywords

Correlation Analysis;Development Value;Plan Characteristics;Residential Land Development Project;The Rate of Land Price Change

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