Earticle

초록

영어

This study empirically investigates the effects of retail property's attractiveness on retail rents in Seoul. The retail rents-attractiveness function represents population density and economic decay relationship. It employs a two stage model. In the first stage, attractiveness of retail property can be measured using the weight of monthly rents and deposit to the total rents in each retail trade area. The second stage uses the ordinary least squares (OLS) to test the relationship between retail rents and various attractive factors. The data used in this study includes consumer preference survey, retail rents, and retail property's characteristics of 50,020 retail shops in Seoul, Korea. The result shows that the residence of low-income people is negatively related to the weight of monthly rents to the total rents. Additionally, consumer perception to preference of retail properties, goodwill, housing with month-to-month rent and population density (market potential factors) have an influence on retail rents in Seoul.

목차

Abstract
 I. Introduction
 II. Literature Review
 III. Model
  3.1. Market characteristics
  3.2. Retail Property characteristics
 IV. Data
 V. Empirical results
  5.1. Analysis of relationship between variables
  5.2. Multi-collinearity
  5.3. Extraction of significant variable
  5. 4. Verification of the Model
 VI. Conclusion
 REFERENCE
 Appendix  Description of variables

저자

• Seung-Young Jeong [ Kimpo University ]
• Jinu Kim [ School of the Built Environment The University of New South Wales Sydney, Australia ]
• Kyong Woo [ Kimpo University ]

참고문헌