상가 지역권리금의 결정요인에 관한 실증분석

An Empirical Analysis on the Determinant Factor of the Retail s Goodwill

As critics have called on the Korean government to address the social issue towards goodwill value of commercial buildings, the members of National Assembly revised Commercial Building Lease Protection Act in the 12th of May, 2015. The amended bill stipulates to give a guarantee of reclaiming goodwill for tenants. Concerning operating loss compensation or lease contract, legal proceedings against building-owners will increase hereafter, particularly in the area of (so-called) the regional premium. In light of such area, there is little understanding of determinants of regional premium of commercial buildings nationwide. As locational and physical factors along with lease-contract characteristics are discussed in the previous literatures, we develop a model to include such determinants. Our results suggest that differential factors are positive and statistically significant in Seoul, Gyeong-gi and all other regions included in the analysis. The rent for per-unit-area and officially assessed individual land price are commonly influential on regional premium, and the results imply that a differentiated approach is necessary to reflect regional characteristics.