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A Study of Retail Property Prices in Seoul

Author

Listed:
  • Jinu Kim
  • Seung-Young Jeong

Abstract

The purpose of this study is to identify the determination variables which affect the retail property prices in Seoul by examining the variables related to the economic conditions of retail trade areas, physical characteristics of buildings, and location. About 146 major retail property data from 1 December 2007 to 31 December 2007 were analysed. Regression analysis and a structural equation modelling (SEM) were constructed to test the significance of the variables on the retail property prices in Seoul. The results indicate that age of building, size of shop and location explain a significant portion of the variability of the retail property prices. Through the empirical analysis, it was concluded that the retail property prices in Seoul were affected by the economic conditions, physical characteristics, and location.

Suggested Citation

  • Jinu Kim & Seung-Young Jeong, 2011. "A Study of Retail Property Prices in Seoul," ERES eres2011_69, European Real Estate Society (ERES).
    • Handle: RePEc:arz:wpaper:eres2011_69
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    More about this item

    JEL classification:

    • R3 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location

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