A platform for research: civil engineering, architecture and urbanism
A platform for research: civil engineering, architecture and urbanism
Office Rent Determinants in the Seoul Area, Korea
This paper attempts to figure out the rent determinants of the office market in the Seoul Area, experiencing radical changes after the IMF bailout program. Employing the hedonic price model with the empirical data, this paper compares two different dependent variables: the potential gross income, and net operation income reflecting the present value. This paper also attempts to analyze the impacts of Chonsei system on rent determination, and reviewes how the segmentation of sub markets in the Seoul area influences rents. The results of office rent determination model estimation can be summarized as follows: First, among the physical characteristics of buildings, the size of the building is the important determinant of the office rent level. Second, the rents are mostly influenced by the type of contract. Third, there exist the distinct differences in sub markets of the Seoul Area. Such results can be attributed to the history and pattern of the office market growth and the type of the building owners. Fourth, it is difficult and sometimes debatable to define “rent” mostly due to the “Chonsei” system in Korea.
Office Rent Determinants in the Seoul Area, Korea
This paper attempts to figure out the rent determinants of the office market in the Seoul Area, experiencing radical changes after the IMF bailout program. Employing the hedonic price model with the empirical data, this paper compares two different dependent variables: the potential gross income, and net operation income reflecting the present value. This paper also attempts to analyze the impacts of Chonsei system on rent determination, and reviewes how the segmentation of sub markets in the Seoul area influences rents. The results of office rent determination model estimation can be summarized as follows: First, among the physical characteristics of buildings, the size of the building is the important determinant of the office rent level. Second, the rents are mostly influenced by the type of contract. Third, there exist the distinct differences in sub markets of the Seoul Area. Such results can be attributed to the history and pattern of the office market growth and the type of the building owners. Fourth, it is difficult and sometimes debatable to define “rent” mostly due to the “Chonsei” system in Korea.
Office Rent Determinants in the Seoul Area, Korea
Kim, Byung-Wook (author) / Lee, Sang-Young (author) / Lee, Hyun (author)
International Journal of Urban Sciences ; 3 ; 23-36
1999-04-01
14 pages
Article (Journal)
Electronic Resource
Unknown
A Hybrid Office Office PARK-NG, Yeouido-dong, Seoul, Korea
British Library Online Contents | 2016
Seoul, Korea.
OECD territorial reviews ; [seoul]
TIBKAT | 2005
British Library Online Contents | 1994
| British Library Online Contents | 2003