Journal of Cadastre & Land InformatiX (지적과 국토정보)

LX Spatial Information Research Institute (한국국토정보공사 공간정보연구원)
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Analysis of Rent-Free Determinants : Evidence from Seoul Office Market

오피스 렌트프리 결정요인 분석 : 서울시를 중심으로

  • Han, Gwang-Ho (Department of Real Estate Studies, The Graduate School of Konkuk University) ;
  • Kwon, Hee-Jae (Leasing Management Team, GENSTAR Co., Ltd.) ;
  • Ro, Seung-Han (Department of Real Estate Studies, Konkuk University)
  • Received : 2018.11.14
  • Accepted : 2019.06.18
  • Published : 2019.06.30
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Abstract

This study is to review methodological limitations of previous studies, propose Tobit Model as an analysis model. We model used annual rent-free as dependent variable and considering to contract characteristics and building characteristics as independent variable. We model was consisted to the three model as follow: Basic model, Time control model, Quadratic model. As a result of the analysis, existing variables revealed through previous studies such as contract period, contract area, total floor area, and building age were all statistically significant. These results were robust when considering time effects. Also, floor area and annual rent-free was quadratic relationship by inverse U shape. This result provide to methodological contribution for related research. Also, provide to more accurate information for participants in seoul office market.

본 연구는 기존 연구의 방법론적 한계를 검토하고 이를 극복할 수 있는 분석모형으로 Tobit을 제안하며, 이 모형을 이용한 실증분석결과를 도출하고 시사점을 제시하는 것을 연구목적으로 한다. 종속변수로 연평균 렌트프리를 사용하였으며 독립변수는 계약특성과 건물특성을 사용하였다. 계약특성에는 신규계약여부, 계약기간, 계약면적을 사용하였으며, 계약시점을 통제하기 위한 계약연도 더미를 사용하였다. 건물특성은 건물연한, 연면적, 연면적제곱, NOC, 권역더미를 사용하였다. 분석모형은 시점을 고려하지 않은 기본모형, 계약시점을 고려한 시점통제모형, 연면적과의 2차함수 관계를 검정하기 위한 2차식 모형의 3개 모형을 설정하고 실증분석을 수행하였다. 분석결과 계약기간, 계약면적, 연면적, 건물연한과 같은 선행연구를 통해 밝혀진 기존 변수들이 모두 통계적으로 유의하였으며, 본 연구에서 추가적으로 검증하고자 한 신규계약여부도 통계적으로 유의하였다. 또한, 연면적과 연평균 렌트프리 사이의 역U자 관계도 존재하는 것으로 분석되었다. 본 연구의 결과는 렌트프리에 관한 기존 연구를 방법론적으로 발전시키는 기여가 있으며, 더욱 정밀한 분석결과를 제공하여 서울의 오피스 임대차시장 참여자들에게 유용한 자료를 제공할 수 있을 것이다.

Keywords

Table 1. Introduction to Variable

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Table 2. Summary Statistics

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Table 3. Number of Contract by Region and year

HGGTBM_2019_v49n1_5_t0003.png 이미지

Table 4. Tobit Model result

HGGTBM_2019_v49n1_5_t0004.png 이미지

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