서울시 중소형 빌딩 시장의 자본차익 영향요인에 관한 연구

Abstract

This study conducted an empirical analysis on the factors of capital gain by using OLS regression and Quantile regression based on actual transaction data in the small and medium-sized building markets in Seoul. The result of OLS regression analysis shows that the width of the front road, commercial districts, Gangnam-gu, Seocho-gu , Mapo-gu , Yongsan-gu , land size , unused floor area ratio, holding period have affect on the capital gain. As in the OLS regression analysis , the result of Quantile regression analysis shows that the direction of the coefficients was the same in all the significant variables and it can be interpreted more detailed because the size of the coefficients of the variables for each quantile was different. For example, a longer holding period would have a negative effect on capital gains and would have to be held short-term rather than long-term in order to realize higher capital gains because of the negative effects increase toward higher quantiles. This study is meaningful in that it analyzed for the first time the factors of capital gain and capital return in the small and medium-sized building market in Seoul, which had not been studied until now, using actual transaction price.