도시 내 입지를 고려한 부산시 아파트의 가격결정요인에 관한 연구

Abstract

The type of housing in Korea is fast changing to apartments from detached houses. Researches on the primary determinants of apartment prices have so far been made mainly focussed on the Seoul metropolitan areas. In this thesis, the determinants of apartment prices have been analyzed in Busan, a prominent local city. The differentiation of this research from previous ones is that direction factor from the center of the city is added in the analysis of the apartment prices. The location of an apartment is regarded as an important influential factor for its price in this research. Thus, the purpose of this thesis is to investigate the differentiation of the residential areas and to analyze the apartment price determinants at the same time, with a focus put on the Busan area. Also, the maximum apartment prices the consumers are willing to pay have been analyzed. For this, the sizes of apartments are classified into the small and the mid-to-large sizes. The methodologies of analysis employed here are GIS and hedonic models. Main results of the thesis is as following: Investigation results of the spatial spreading of the apartments in Busan, based on the numbers of family members, show that the spatial spreading of Busan City into the suburban areas was already made in 1980s. First, in order to analyze the differentiation of the residential areas, apartments in Busan are classified by concentric circles, centered on the Seomyeon area, and their sectors. Five concentric circles are given with their radiuses being 4, 6, 8, 10, and over 10 km, while a different sector is given for each of the eastern, western, southern, and northern directions. The result shows that clear residential area differentiation has not occurred for the size of apartments in Busan. But the prices per pyeong of the apartment size are found to be a little higher in the areas to the east and west from the central area than in the other areas. Second, the positive analysis result on the apartment price determinants with the direction taken into consideration is as follows: The price per pyeong for sale gets higher as the distance to the central area of the city increases. The price is the highest in the eastern areas and it gets lower in the order of the west, south, and north directions. The jeonse key money per pyeong gets higher in the order of the western, northern, and eastern directions, with the rental cost highest in the areas to the east, and as the distance to the central area increases to those directions, while it gets higher as the distance decreases to the south. Third, the positive analysis results on the maximum apartment prices the consumers are willing to pay are as follows: For small-sized apartments, the prices get higher as the distance to the east from the center of the city increases. But the prices get higher as the distance to the south, west, and north from the center of the city decreases. So the consumers are found to be willing to pay higher maximum prices for small apartments as the distance from the central area decreases. Then, for the mid-to-large-sized apartments, the prices are found to be higher as the distance to the center of the city increases. They increase steepest to the east, and less steeper to the south, north, and west, in that order, with the western direction showing the mildest increases of prices. So the maximum prices the consumers are willing to pay for the mid-to-large-sized apartments get higher as the distance to the center of the city increases. This means that the consumers of the mid-to-large-sized apartments pay less attention to the benefit coming from the short distance to the center of the city but are willing to pay higher for the comfortable housing environments even though the housing cost is higher in the suburban areas. These research results imply a few points to consider in the aspect of the housing policy of Busan municipal government. First, excessive housing supplies in the suburban areas should be controled, while comfortable housing environments should be created through the reconstruction projects in the central areas which are conveniently located in the aspect of the utilization of transportation means and others. Due to the influences of the refuge towns formed during the Korean War period, the rates of old housing are high in Jung-gu, Dong-gu, Seo-gu, and Yeongdo-gu areas. In the light of such a locational environment, outstanding housing development policy in the original hearts of the city is necessary. Second, more small-sized apartments should be supplied than mid-to-large-sized ones, as has been confirmed from the analysis results for the Busan area. Third, the analysis results of locational housing characteristics, employing the distance to the central area and the direction, show that there are no big differences in the prices of apartments between the areas in Busan, unlike in Seoul. But balanced development among different areas is needed, so that any unbalance should not occur by the excessive development in Suyeong-man, Centum City, and Haeundae-gu areas. The limit to this research is that supply costs such as prices of lands should be incorporated into the locational factors of distance to the central area and direction, but this has not been taken into consideration in this research. Better results are expected in future researches, if such a shortfall is supplemented for an improvement.