• Journal of the Korean Regional Science Association
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• v.34 no.1
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• pp.3-17
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• 2018

This paper empirically investigates time-varying regression parameter of hedonic price model for Seoul office rental market in distinct periods of a market cycle. Office rental index is constructed and the index indicates that the global financial crisis differentiates the analysis period into decline stage and recovery stage. Pre-crisis period is classified into decline stage and post-crisis is classified into recovery stage. Structural break-point test suggests structural change of hedonic model of rent determinants occurred in 2008. Evidence indicates that individual regression parameters of hedonic price model for decline stage are significantly different from those for recovery stage. Changes in the regression parameters of land price, distance to metro, building size, building age, and conversion rate are consistent. In recovery stage, the effect of locational advantage on office rent decreases whereas the effect of building characteristics on the rent increases.

• Journal of Korean Society of Transportation
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• v.26 no.6
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• pp.29-38
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• 2008

In Seoul, the volume of office market has been expanding rapidly and the currency will be maintained. Many researches have looked at determinants of the office rent, we still cannot have adequate and accurate information of the impacts of traffic congestions around office buildings on the office rents. To gauge the effect of traffic conditions surrounding an office building on the office rent, a hedonic price model was estimated. The regression analysis estimates the values or implicit prices of the individual rent determinants; these parameters in turn allow for a detailed examination of the variables that impact office rents. The result shows that traffic conditions of office buildings play an important role in determining the office rental rate. Since a number of adjacent streets provided excellent opportunities to connect with the neighborhood, it pulls up the rental rate. Similarly, traffic congestions depreciates the value of an office buildings restricting the accessibility to the office building. We also provide evidence of the existence of spatial submarkets and find that market takes different spatial forms depending on the local context.

• Environmental and Resource Economics Review
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• v.17 no.2
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• pp.235-254
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• 2008

This study analyzes the economic effects of reduction of green-belt. Green-belt is a kind of land which is restricted to be developed into housings. It is important for social welfare. It affects the social welfare by two routes. One way is through the housing market process. Development of green-belt into housings increases housing supplies and lowers rents. The other is that it improves the living condition by increasing green spaces. Therefore, the development of green-belt to housing can Improve or worsen the social welfare. This paper analyzes its welfare effects by simulations. The results of the paper show that reduction of green-belt increases housing supply and lowers the rent and asset prices. The social welfare is improved in the model.

• Journal of the Korea Institute of Building Construction
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• v.10 no.6
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• pp.87-96
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• 2010

This research analyzed the location of stores using a space syntax analysis model to measure the location of building interior stores in a quantitative way. Measure walk population of each space and analyzed analysis model and actuality measurement rent and difference to calculate value of store. With this, analyzed mad effect factor to rent. Drew effect factor of rent which is appropriated present. Had cleared that rent which consider walk population is required.

• Land and Housing Review
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• v.14 no.4
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• pp.17-37
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• 2023

The rental housing market in South Korea, specifically monthly rent with deposit, has been expanding over the last three decades (8.2% in 1990 to 21.0% in 2020), partly replacing the traditional Jeonse market. The distribution of rent has changed due to public rental subsidies and the emergence of luxury rental housing, while the distribution of rental household income has been polarized because of the emergence of rich renters. This study attempts to measure the structural changes in the rental market by developing a new indicator of income-rent mismatch. Using the seven series of the Korea Housing Survey, this study analyzed the changes in rent (reflecting the conversion rate) and income levels of rental households in 2006 (base year) and 10-15 years later (the analysis year) at the national level and at the spatial unit of 16 metropolitan cities and provinces (excluding Sejong), respectively, by dividing them into quartile data. The result reveals that rental housing was undersupplied in middle- and high-income rental housing due to the decline in the highest quartile (25%→18%) and the third quartile groups (25%→20%), while the supply of public rental housing expanded for the second quartile (25%→28%) and the lowest quartile (25%→35) groups. On the demand side, the highest income quartile shrank (25%→21%), while the lowest income quartile grew (25%→31%). Comparing the 16 metropolitan cities and provinces, there were significant regional differences in the direction and intensity of changes in rent and renter household income. In particular, the rental market in Seoul was characterized by supply polarization, which led to an imbalance in the income distribution of rental households. The structural changes in the apartment rental market were different from those in the non-apartment rental market. The findings of this study can be used as a basis for future regional rental housing markets. The findings can support securing affordable rental housing stock for each income quartile group on monthly rent and developing housing stability measures for a balance between income and rent distribution in each region.

• Land and Housing Review
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• v.14 no.4
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• pp.47-62
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• 2023

Using the dynamic panel model, this study investigates rent determinants for small and medium-sized office buildings in Korea's CBD and Gangnam areas, key business districts. The results reveal that rents for small and medium-sized office buildings in CBD and Gangnam areas are influenced by macroeconomic fluctuations and characteristics of buildings and locations, suggesting a market with both spatial consumer and investment goods attributes. There are several investment implications as follows. First, even if the location in the CBD area is advantageous, the practical limitations in renovating aging small and medium-sized office buildings must be taken into account when investing. Second, parking conditions are a key factor influencing rent prices in CBD areas, so evaluating the parking facilities and improvement potential of small and medium-sized office buildings is essential for investors. Finally, due to the high sensitivity of Gangnam's small and medium-sized office market to macroeconomic trends, it's vital to prioritize monetary policy shifts as a key factor in investment decisions.

• KOREAN POULTRY JOURNAL
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• v.44 no.7
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• pp.124-127
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• 2012

프랜차이즈 산업 중 외식업이 차지하는 비중은 약 65%에 이르고, 이 중 치킨 프랜차이즈의 비중은 외식업의 절반 가까이를 차지하고 있다. 치킨 창업은 예비 창업자들이 가장 많이 선택하는 아이템으로 임대료, 인건비, 운영비, 부대비용 등 창업자본의 부담이 적고 기술적 영업적 진입장벽이 낮아 연일 많은 프랜차이즈와 가맹점들이 개업을 하고 있다, 하지만 시장이 포화상태라 할지라도 치킨사업은 꾸준한 수요증가에 의해 외식시장에 스테디셀러 아이템으로 자리잡고 있다.

• Journal of the Economic Geographical Society of Korea
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• v.21 no.4
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• pp.370-392
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• 2018

This study aims to reveal that the changes in the population and housing consumption of foreigners, which are constantly undergoing structural changes, affect both the housing market of home and host country. The cause and the change of foreigners' housing market in Seoul were analyzed to be that the foreigners' continuous inflows occurred due to the 'fixed effect of rent' on the rental market, which is different from the domestic housing market. Korean-Chinese, who tend to be circular migration, make the current concentration of the housing market. Meanwhile, Korean-Chinese, who have experienced migration from Korea, emerged as major housing consumers, causing a real estate boom in Yanji City. Housing investment by Korean-Chinese is concentrated in the 'West' from Yanbian University, closely related to the city's urban planning that affects housing supply. This transnational housing consumption of immigrants connects the housing market of home and host country, in turn, causes the filtering process in the two countries simultaneously, which results the 'transnational housing filtering process'.

• 주택과사람들
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• s.204
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• pp.70-73
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• 2007

Simon Group, Taubman, Westfield, Hongkong Land. 이들은 이름만 들어도 알 만한 해외의 유명한 부동산 전문 디벨로퍼들이다. 이들은 모두 수십 개 이상의 쇼핑몰을 직접 소유하고 운영하고 있다. 이들의 사례에서 보는 바와 같이 선진국의 대형 쇼핑몰은 대부분 개발회사가 개인 투자가들에게 분양하지 않고 쇼핑몰을 소유하면서 매출에 연동해 임대료를 받는 방식으로 운영한다. 반면 국내는 선분양 형태의 분양형 상품이 대부분이다. 전문가들은 임대형이 아닌 분양형 상품으로 짓기 때문에 쇼핑몰 시장에 난기류가 형성되고 있다고 진단한다. 경매시장에 무더기로 쏟아지고 있는 쇼핑몰과 성공한 쇼핑몰의 차이를 알아보고 이에 대한 대응책을 찾아본다.

• Korean Journal of Construction Engineering and Management
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• v.13 no.6
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• pp.121-132
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• 2012

The current estimation system of construction equipment cost was first introduced in 1960's when general contractors had ownership of equipment. However, most of construction equipment in construction sites has been rented from equipment leasing company these days. Therefore, the improvement of current cost estimation system is therefore inevitable in order to advance domestic construction industry. This study is aimed to suggest the improved system by analyzing nationwide market rental rates of major construction equipment. A user friendly prototype of actual database grounded on actual market rental rates collected from over 200 leasing companies in the nation was proposed. The database includes various rates and statistics analyzed by different form of contract as well as different region. Using the collected data, "The Cost Estimate System in Construction Equipment Database" was developed by using VBA(Visual Basic for Applications). The system makes users convenient to utilize the rental rates by choosing equipment and region, and various types of contract.