This study aims to analyze the characteristics and influencing factors of commercial land sales within urban development zones Gyeonggi-do, Republic of Korea. The purpose is to identify the spatial and planning determinants that affect the success of ...
This study aims to analyze the characteristics and influencing factors of commercial land sales within urban development zones Gyeonggi-do, Republic of Korea. The purpose is to identify the spatial and planning determinants that affect the success of commercial land sales and to derive meaningful implications for future urban development palnning and policy decisions.
To achieve this, empirical data were collected from 33 urban development projects containing 368 commercial land parcels in Gyeonggi Province. The Study constructed a database based on official development approval documents and public records. Key analytical variables included the size of the development area, number of planned households, commercial land ratio, and accessibility factors such as proximity to inerchanges and subway stations. Using both hierarchical cluster analysis (Ward’s method) and K-means clustering, the research classified the study sites into five distinct groups according to their sales performance and locational characteristics.
The results revealed that commercial land sales performance significantly varies depending on development scale, commercial land proportion, and transportation accessibility. Medium-scale development zones (500,000-1,000,000 ㎡) with balanced land use and favorable transport connections exhibited higher sales ratios, while small or large-scale zones with excessive commercial land supply or poor accessibility showed lower performance. These finding demonstrate that balanced planning of commercial land and effective transport linkages play crucial roles in enhancing the success of land sales within urban development projects.
Policy implications suggest that future urban development plans should prioritize moderate-scale zones with strategic connections to metroplitan transport networks and avoid excessive allocation of commercial land that may reduce project profitability. This study provdes empirical evidence that can contribute to practical decision-making in urban development management and commercial land disposition planning.