지식산업센터의 가격결정요인에 관한 연구

Abstract

In Korea, the knowledge industry centers attract the attention. In the knowledge industry center market, the development paradigm is changing toward emphasizing the product differentiation by making the best use of architectural planning and unit plan. The objective of this research is to explain influencing factors on the sales price of knowledge industry center focusing on the architectural planning and unit plan. We categorize influencing factors on sales price into regional, locational, architectural, unit, and time characteristics. For empirical research, we analyze the 6,726 sales prices of individual units in 28 knowledge industry centers sold from 2004 to 2016 by using hedonic price model. The main empirical results are as follows. Firstly, this study confirms the locational characteristics such as the distance to subway station, the distance to bus stop, and corner location, have significant effects on the sale price. These results display accessibility and visibility are also important to knowledge industry center. Secondly, this study finds the architectural characteristics such as the total leasable area of the center, core type, area for amenity facilities, mixed-use development with retail property or park, and the number of elevator per leasable area, have significant effects on the sale price. These results demonstrate architectural characteristics can be used as important differentiation factors for knowledge industry center development. Thirdly, this study shows the individual characteristics such leasable area of the individual unit, the floor that individual unit is located, the distance between the individual unit and elevator hall, and the number of balconies annexed to individual unit, have impacts on the sale price. These results represent unit plans of knowledge industry center, can affect sales prices. Fourthly, this study affirms the sales prices of knowledge industry centers are different according to regions and sales times.