공간구성특성이 주상복합아파트의 가격에 미치는 영향

Abstract

This study analyzes the effect of 'bay' structures on mixed-use apartment prices using a hedonic price model on 2,288 transactions in Songpa-gu, Seoul (2015-2024). We examine 3- to 5-bay units against a 2-bay reference, analyzing preferences across a 100m² threshold. The model used total transaction price as the dependent variable, controlling for key variables including net area and zoning. Results show 4-bay units command the highest price premium of 8.8%, while 5-bay units showed no significant difference compared to the reference group, suggesting diminishing marginal utility beyond four bays. A sub-group analysis reveals that the preference for 4-bay structures is robust across all sizes. In smaller units (≤100m²), 4-bay layouts have a distinct price advantage over 2- and 3-bay units. Notably, in larger units (>100m²), both 3-bay and 5-bay units were priced significantly lower than 4-bay units. This implies that 4-bay designs offer the optimal spatial utility, whereas excessive bays (5-bay) in large units decrease spatial efficiency. This study validates the consistent market preference for 4-bay structures, demonstrating that 4-bay is the optimal configuration regardless of unit size, offering critical insights for design and value assessment.