| Title |
A Study of the Price Determinants for Public Residential Landn Ivestment - From the Perspective of Land and Market Factors - |
| Authors |
Choi, Kiheon ; Lee, Sangyoub |
| DOI |
http://dx.doi.org/10.6106/KJCEM.2016.17.3.108 |
| Keywords |
Public Residential Land ; Investment Price ; Apartment Market ; Raw Material ; Multiple Regression |
| Abstract |
The price determinant for land investment depends on the internal information process and subjective decision making by management in general. Accordingly, the systematic frame to determine the feasibility of investment price to the public residential land for multi-housing development by private sector has not been proposed. The purpose of this study is to explore the frame to determine the investment price for public residential land from the perspectives of land attribute and apartment market factor. Multiple regression has been implemented to confirm the eligibility of proposed model. Research findings indicate that the land area, floor area ratio, coverage ratio, location have been identified as the total land cost determinant, and for the determinants for floor area land cost, the ratio of apartment, sale price, rent price, etc, have been identified. This research intends to provide the basis for land providers to predict the land value as a raw material in market and present the indicators for land buyers to review the price adequacy for the investment. |