• 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.

• KSCE Journal of Civil and Environmental Engineering Research
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• v.30 no.3D
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• pp.313-321
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• 2010

This study analysed the characteristics of residential mobility according to the household's life-cycle to observe the housing filtering process in Busan. The questionary subjects were adult 40 and over who inhabited in Busan and surveyed residential career about residential mobility. The analysis result of statistical data and result of questionary reveals similar result every articles, the summaries are as follows : Examining housing where the respondent live presently, apartment dominate absolutely high ratio as housing type and owner-occupation as housing tenure type, and housing size is about 30 pyeong, dwelling period is 6 years to 10 years. Saving and loan hold a large majority to make housing capital, that means, they apply housing finance to getting own housing despite it is impossible with present household's income to have owner-occupation of desired housing. This is different custom ours from foreign's that rent a house. However, as aspect of residential satisfaction, most household recognised that quality is improved, because residential mobility expanded housing size and changed tenure type and showed fairly high satisfaction with their present resident.

• Journal of Korean Society of Transportation
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• v.24 no.5 s.91
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• pp.67-74
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• 2006

This paper proposes a way to a risk quantification of public sector comparator in the value-for-money test of the BTL (Build-Transfer-Lease) scheme in rail investment projects. Two principal risks that are project delay and budget increasing costs are identified and are empirically quantified with a case study of the Haman-Jinju link. The methodology suggested is expected to be a good reference for the similar research afterwards and also to help in settling down the scheme that is only an early stage.