The purpose of this study is to analyze the influence of residential environmental factors on multi-family housing prices. The data used as dependent variables in this study were the selling prices in the years of 1997. Independent variables were comp...
The purpose of this study is to analyze the influence of residential environmental factors on multi-family housing prices. The data used as dependent variables in this study were the selling prices in the years of 1997. Independent variables were comprised of factors which represent physical characteristics, neighborhood environmental characteristics, and local environmental characteristics of housing. In this study, the Hedonic Price Approach was used in order to analyze the influence of residential environments on multi-family housing prices. Also, a hypotheses was established to observe the effect of residential environment factors on the prices of multi-family housing. In this study, the Seoul housing market was divided into sub-markets according to the price, to confirm that the selection of variables and the range of study which affect the prices of multi-family housing can vary in result. This study deals with the housing sub-market in residential factors which affect housing prices.