어메니티 요소가 수도권 아파트 전세가격에 미치는 효과 분석에 관한 연구

An Analysis on Effect of Amenity on the Apartment Rents in the Seoul Metropolitan Region

1. CONTENTS (1) RESEARCH OBJECTIVES This study aims to analyze the determinants of Seoul's apartment rent, focusing on the effects of amenity on the apartment rents. (2) RESEARCH METHOD This study was used by ordinary least square model(OLS) and three different spatial econometrics model(SAR, SEM, SAR). We included four types independent variables into the hedonic price model: apartment structural variables, accessibility variables, locational variables, and amenity variables. As proxy variables for amenity, we include five variables: distances to general parks, neighborhood parks, children parks, sports parks, and water-front parks. (3) RESEARCH FINDINGS In the results of this study, the most importantly, accessibilities to general parks, neighborhood parks, and waterfront parks are negatively related to apartment rents. 2. RESULTS The major findings can be summarized as follows. First and most importantly, accessibilities to general parks, neighborhood parks, Children pakrs and waterfront parks are negatively related to apartment rents, while sports parks have not significant signs, indicating that parks around apartment complexes contribute to increasing apartment rents, but sports parks do not. Second, all the apartment structural variables except building age are positively related to apartment rents at a 1% significant level. Third, apartments closer to subway stations, hghway interchange, and arterial road are likely to have higher rents. Fourth, apartments with higher accessibility to elementary schools, to department stores, and to the CBD and subcenters are likely to have higher rents, while apartments closer to the big box retailers are likely to have lower rents.