서울시 용도지역 변경에 따른 지가변동에 관한 연구 - 왕십리부도심 사례지역을 중심으로 -

서울시 용도지역 변경에 따른 왕십리 일대 지가변동을 분석했다.

Historically, the zoning regulation have been introduced in an effort to suppress the disorderly mix of land uses and consequent negative externalities so that the asset value of the real properties could be safely preserved. For the purpose, the Euclidean zoning have adopted the hierarchical/cumulative and exclusive allocation of land uses by grouping an in-kind uses of land. On the other hand, however, the zoning system also has been criticized in that it brought about unexpected consequences such as residential segregation and increasing commuting distances. Furthermore, some have even claimed that it has no effects in sheltering the real asset values.

This study, in this context, tries to review the theoretical debates surrounding such issues as above and to empirically investigate the changes in land prices that occur due to the up-zoning case in urban districts, taking Wangshimri area in Seoul City as the study area. The study specifies a hedonic price model composed of various independent variables representing the physical and locational characteristics that are assumed to contribute to the land price. The explaining power of the model (the R-squared value) is estimated to be 0.85, and most of the explaining variables show high levels of significance.

The regression analysis clearly evidences significant influences of up-zoning on the rising land prices. Historically, the zoning regulation have been introduced in an effort to suppress the disorderly mix of land uses and consequent negative externalities so that the asset value of the real properties could be safely preserved. For the purpose, the Euclidean zoning have adopted the hierarchical/cumulative and exclusive allocation of land uses by grouping an in-kind uses of land. On the other hand, however, the zoning system also has been criticized in that it brought about unexpected consequences such as residential segregation and increasing commuting distances.

Furthermore, some have even claimed that it has no effects in sheltering the real asset values. This study, in this context, tries to review the theoretical debates surrounding such issues as above and to empirically investigate the changes in land prices that occur due to the up-zoning case in urban districts, taking Wangshimri area in Seoul City as the study area. The study specifies a hedonic price model composed of various independent variables representing the physical and locational characteristics that are assumed to contribute to the land price.

The explaining power of the model (the R-squared value) is estimated to be 0.85, and most of the explaining variables show high levels of significance. The regression analysis clearly evidences significant influences of up-zoning on the rising land prices.