중소규모 상업용 빌딩 가격 형성 요인에 관한 연구 : 울산광역시를 중심으로

울산 중소규모 상업용 빌딩의 가격 형성 요인을 분석했다.

This study is based on the factors that form the selling price of small and medium-sized commercial buildings in Ulsan Metropolitan City. The commercial building market can be divided into large office buildings and small and medium-sized commercial building markets. Unlike large office buildings, small and medium-sized commercial buildings have a high proportion of their use mixed with retail, residential, retail, or office and retail, compared to large buildings, the transaction amount is low, so individual transaction ratio is high. Unlike the collective building, the entire building is traded.

Usually not more than 50 billion worth of buildings in 1 billion the amount of transactions used that small and midsize commercial buildings. Until now, many studies have been conducted on large buildings, mostly in office buildings, focusing on Seoul. There are only a few studies of small and medium-sized commercial buildings. A small number of small and medium-sized commercial buildings are also studied in Seoul, making it hard to find any research on commercial buildings in provincial areas. Large office buildings are densely distributed around major business areas in Seoul and the metropolitan area.

Small and medium-sized commercial buildings are scattered and distributed in each region as well as in the Seoul metropolitan area and are traded within the region. In addition, there are very few large office buildings in local commercial buildings, while the majority of commercial buildings consist of small and medium-sized commercial buildings. In particular, Ulsan is the nation's No. 1 city in terms of regional and regional gross income based on the NSO's survey in 2017. The proportion of people aged between 30 and 60 who can be seen as the potential demand group is 50.6 percent, which is higher than that of Seoul or the entire country.

In the Ulsan area, however, due to the sluggish shipbuilding economy and the downturn in the local real estate market that began around 2017, the index for the release of appraisers, rent and rent prices all fell short of the national average in the first quarter of 2019. The environment of commercial real estate varies depending on the region, and the market environment also changes. Because the supply and demand of small and medium-sized commercial buildings, as well as the characteristics of the commercial districts, it is necessary to understand the small and medium-sized commercial building market by taking into account regional factors.

Through this paper, we hope to enhance our understanding of the small and medium-sized commercial building market in Ulsan and provide reasonable decision-making information to market participants interested in small and medium-sized commercial buildings in Ulsan. Based on the actual transaction data of the Ministry of Land, Infrastructure and Transport, where the sale of small and medium-sized commercial buildings in Ulsan was made, the data showed that 1 building was traded for commercial, business or mixed purposes in 4 districts in Ulsan Metropolitan City, and 371 small and medium-sized commercial buildings with three or more stories or less were used from 2009 to 2017.

The Hedonic Price Model (Hedonic Price Model) was used to analyze the evidence and the dependent variables were sold per m2 of the linear function, sold amount per m2 of land (m2) and sold amount per year of the linear function (logarithm2). Looking at the analysis results, macroeconomic characteristics first showed that as interest rates went up, prices went down, and the higher the land price index fluctuation rate, the higher the price. The analysis showed that the higher the interest rate, the lower the price, and the higher the index fluctuation rate, the higher the price.

This is because higher interest rates would increase funding costs and reduce investment returns, leading investors to seek alternative investment destinations, which would lead to a fall in commercial building sales prices. On the other hand, the rise in the land price fluctuation rate can be seen as having a direct impact on the selling price of small and medium-sized commercial buildings due to the rise in land prices. Regional characteristics show that buildings located in the southern part of the city are more expensive than those in other areas. Compared to other autonomous regions in Ulsan area.

There is a concentration of people, industrial numbers, and commercial buildings in Nam-gu. And since convenience and commercial facilities such as city hall, department store, finance, distribution and transportation were concentrated, small and medium-sized commercial buildings also have regional characteristics that show higher selling prices compared to other autonomous regions. In terms of land characteristics, it was found that the larger the land area, the more negative effects on the selling price per piece of land, and the more positive effects on the selling price in commercial areas.

In the building characteristics, the floor area and the excess drywall ratio have a positive effect on the selling price per piece of land. The ratio of commercial area on the first floor has a positive effect on the selling price per floor area. Unutilized floor space rates and years of transition were shown to have a negative effect on the selling price. As a variable that could show the effect of development density on the selling price, it was shown that both excess and unused floor space rates affect the selling price.

According to the business district characteristics, small and medium-sized commercial buildings located within 25 major commercial districts of Small and Medium Business Corporation have a positive effect on the selling price. Buildings located in major commercial districts can be assumed to have higher rental profits due to increased sales due to increased floating population, and the rise in rent is thought to lead to a rise in selling prices. In terms of location cha