공공택지개발지구 상업용지의 낙찰 및 착공에 관한 연구

공공택지개발지구 상업용지의 낙찰과 착공에 영향을 미치는 요인을 연구했다.

Cities in Korea have developed along with public urban development projects. By improving the city's residential environment through planned urban development, it has contributed a lot to continuous urban development by solving residential problems. These housing site development projects are also an important way to supply large-scale commercial-use land along with housing supply, and the supply of commercial-use land in public development projects is often based on uniform plans, which can lead to problems of unsold commercial-use land or excessive competition.

Since the non-sale of commercial land in the housing site development zone poses a financial risk to the project operator and is an important issue in determining the success or failure of the development project, the study of commercial-use land in the housing site development zone was mainly about whether or not to sell it from the supplier's perspective. However, from the perspective of the consumer of commercial-use land, information on the successful bid price and the successful bid period of the commercial-use land is very important in the investment decision-making process.

Therefore, from the perspective of investors, this study conducted an empirical analysis of the successful bid price of commercial-use land in the housing site development zone, the first successful bid, and the start period of construction of commercial buildings. For the empirical analysis of this study, the theoretical background of housing site development projects, commercial districts, and commercial-use land was studied, and previous studies related to this study were considered. Based on this, differentiated variables to be demonstrated in this study were discovered and an appropriate research model was established.

The data used in this study are data for the sale of neighborhood living facility land, semi-residential land, and general commercial-use land among commercial-use land implemented and sold by LH Korea Land and Housing Corporation, and the temporal range is from January 2016 to October 2021 (70 months), and the spatial range is for housing development districts nationwide. The analysis results of this study are as follows. First, an empirical analysis was conducted on the factors affecting the successful bid price of commercial-use land in the public urban development district.

commercial-use land was analyzed by dividing it into neighborhood living facility land (including semi-residential land) and general commercial-use land. The dependent variable was the successful bid price per unit area, and the independent variable consisted of factors that could confirm the characteristics of each commercial-use land. As a result of the study, it was found that business district characteristics, location characteristics, land individual characteristics, regional characteristics, and macro characteristics affect the sale price.

In general, there were many significant variables in the location characteristics related to neighborhood commercial areas, and in the case of general commercial-use land, variables related to the characteristics of the entire district were significant. These results confirmed that the factors affecting the successful bid price were different depending on the characteristics of commercial-use land in the housing development district. Second, an empirical analysis was conducted on the factors affecting the first successful bid without bidding on commercial-use land.

In the case of good commercial-use land, it can be expected that the price will be high and the successful bid will be fast, as previously discussed in the factors influencing the falling price. The factor that wins the first successful bid quickly is not only influencing the good land itself, but also influencing investment decisions such as business feasibility. In addition to the factors applied to the successful bid period, the study on whether or not the first successful bid was analyzed for additional factors that can influence the successful bid decision.

Similar to the study on successful bid prices, significant independent variables differed depending on the characteristics of neighborhood living facility land and general commercial-use land for business district characteristics, location characteristics, individual characteristics, regional characteristics, and macro characteristics. From an investor's point of view, the supply price, total supply amount, housing supply performance, and rental price index were additionally set compared to the construction cost of the district, and all were proven to be significant variables.

In the case of the total amount of supply, the results of neighborhood living facility land and general commercial-use land are slightly different, suggesting that there is a difference in characteristics between the two commercial sites. Third, an empirical analysis was conducted on the factors affecting the period during which the sold commercial-use land begins. A survival analysis was conducted on the commercial sites where construction began until the investigation's completion date, and the factors that determine the start of the shopping mall were analyzed.

Since profitability is the most important factor on commercial-use land, shopping malls will be built first where there is demand. Therefore, variables such as demand and competition factors, profitability, and construction entities were set as important independent variables regarding the construction period. The analysis results for the main influencing factors showed that the sooner the time to move into nearby apartments, the more competitive the number of commercial sites in the block, the more general commercial sites, the better the development conditions as a corporation, the better the profitability, the faster the construction begins.

This study identified the factors influencing the successful bid price, successful bid period, and the start time of constru