Abstract
The purpose of this study is to analyze determinatives of office rent in Seoul. This studies that have been done focus on building characteristics, locational characteristics and functional characteristics on office rent. Office rent is influenced by not only physical characteristics but also nonphysical characteristics of building and is influenced by locational and functional characteristics of the district which located in building. In this point, Hedonic office rent models are estimated using comprehensive data for 3 office sub-market in seoul. We find that office rent is influenced in all districts by total building square meter reflecting building size and in two districts by building owner(large sized enterprise) reflecting distinguish rent strategy. We find that office rent is influenced by micro accessibility (distance from Subway station ect) but there are the distinct differences in influence element. Such result can be attributed to the distinct difference in transportation system. Also, business-density and service-density reflecting the degree of function concentration play an important role in explaining the distinct difference in office rent.