An Analysis on Determinants Affecting the Price of the Officetel in Seoul

다국어 초록 (Multilingual Abstract)

In Korea, the Officetel is one of the alternative structures introduced in the pursuit of effectively using urban spaces and satisfying the need for multi-purpose buildings. Although this new type of unit has a dual usage in a building and is legally classified as an office facility, it provides users with both a business (office) and a housing service. It can support individuals’ office work efficiency and a short commute to the workplace by ensuring a convenient location of the combined spaces for work and living. Officetel buildings are, therefore, being built near and around many office towers in CBD(Central Business District) and we can see the positive ways in which they may be helpful in preventing the emptiness of downtown during the nighttime. Meanwhile, the Officetel is currently being used as a housing facility rather than a business space in comparison with their early times, because it can serve as an excellent home for single-person households. However, Officetels have problems related to the residential environment because the Officetel building design is based on the office building construction standards. This means that many people who are living in Officetels are living in quite a bad residential environment. In spite of these problems, the number of Officetel users is continually increasing. The purpose of this study is to analyze the determinants of the Officetel price and to contribute to a better understanding of the Officetel market in Seoul. The multiple regression model provides the basic framework for the statistical analysis, and the chosen study areas are Jongno-gu & Jung-gu, Gangnam-gu, and Dongdaemungu & Seongdong-gu in Seoul. As a result, some factors related to both the business and housing aspects are significant since they impact on the Officetel price both positively and negatively. This result supports the fact that the Officetel serves both office and housing functions, but the housing-related characteristic is quite strong even though it is technically a business facility.

참고문헌 (Reference)

1 구동회, "서울시 오피스텔의 임대료 결정요인에 관한 연구" 한국지역지리학회 10 (10): 654-666, 2004

2 Yoon, Young-Ho, "Introduction of Quasi-Housing System" Korea Land & Housing Corporation 2010

3 Ministry of Land, Transport, and Maritime Affairs Press Release, "Holding a Public Hearing on Quasi-Housing System"

4 Ministry of Land, Transport, "A Study on the Way to Construction of the Future Housing According to the Change of the Residential Environment, Ministry of Land, Transport, and Maritime Affairs" 2008

5 Yang, Seung-Chul, "A Study on the Efficient Use and Supply of Officetel" Hanyang University 2008

6 Lee, Yong-Min, "A Model on Determinating Factors of the Each Officetel Unit Price: Focused on Gangnam-gu" Hanyang University 2010