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The Study on Determinating the Factors Affecting Apartment Prices in Yeosu Using Factor Analysis

1. CONTENTS (1) RESEARCH OBJECTIVES There are many studies on the factors of Aptment prices in seoul using Factor Analysis, but it is not easy to find the study on Aptment prices in Yeosu. The purpose of this study is to find the influencing factors on Aptment prices using Factor Analysis in Yeosu. (2) RESEARCH METHOD The Dataset for this Analysis were collected from local Apartment market in Yeosu. The dataset consist of Apartment prices, property characteristic and market characteristics in Yeosu variables. To test this hypothesis, We use Factor analysis and multiple regression firstly, Factor analysis is used to uncover the latent structure (dimensions) of a set of variables. It reduces attribute space from a larger number of variables to asmaller numberof factors. secondly, Multiple Regression Analysis Model was used for estimating Hedonic price. (3) RESEARCH FINDINGS The results of this research are as follows, the important 5 factors of Apartment prices in Yeosu are size of aptment unit, retail trade area, age of the property, density of construction, and accessibility to CBD. 2. RESULTS The purpose of this study is to find the influencing factors on Apartment prices. Especially this study was focused on 5 factors. As the results, the most important Variable of Apartment prices in Yeosu is age of the property.