Journal of Korea Planning Association (국토계획)

Korea Planning Association (대한국토도시계획학회)
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A Study on the Estimation of Land Price Considering Characteristic of the Adjacent Land Use and Spatial Autocorrelation in Residential Zone

공간자기상관과 주변 용도지역에서 접근성을 고려한 주거지 내 지가 추정에 관하 연구

Choe, Yeol;Lee, Baek-Ho
최열;이백호

  • Published : 20060000
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Abstract

The primary objective of this paper is to analyze the spatial effects of land price on residential areas for mitigation in method of spatial autocorrelation and the accessibility from surrounding land use in Chang-won City. The spatial error model(SEM) is employed as the empirical analysis for this study, which it can be alleviated the problem of spatial autocorrelation. The major findings are as follows: The land price is more likely to increase as having nearness to central commercial area, general commercial area, quasi-residential area, educational facility, and department store. In particular, the accessibility to central commercial area have a little influence on land price in accordance with the traditional OLS, but it works on SEM as the main judging factor. And it shows that the closer to distributional commercial area and industrial area is lower land price. Moreover the distance of distributional commercial area has also important effect in SEM. Such an empirical analysis approves that SEM is better than the tranditional OLS. Accordingly, the most results verify that the estimated value of land price to consider spatial effect is more robust than that of the existing analysis to disregard spatial effects

Keywords

References

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