서울 상가 임대시장 특성에 대한 실증분석

An Empirical Study on Seoul Retail Rental Market

Retail market is one of the main sectors in real estate market, but there has been few researches in this area. This study attempts to examine the physical and operating features of Sang-ga(retail property smaller than shopping center) as well as the characteristics of retail rental market in Seoul. Major findings include : the older Sang-ga is, the smaller its size (lot, gross floor area), and most of the Sang-ga owners are individuals. Unlike residential market, major rental contract type is monthly rent with security deposit, but any standardized relationship between deposit and monthly rent (observed in office market) is not found. Also, the level of conversion rate for Jeonsei to monthly rent is higher than in the residential market, but lower than in the office market. And it is correlated to deposit to Jeonsei ratio. The results indicate that retail rental market has identical characteristics.