An Analysis on the Successful Bid Rate of Commercial Land in Public Land Development Projects for Housing Supply

Abstract

The purpose of this study is to compare and analyze the successful bid price rate of commercial facility sites in public land development projects for housing supply between southern and northern regions of Gyeonggi-do. The data are 255 lots in the southern region and 138 lots in the northern region for commercial land. Multiple regression analysis is conducted. The analysis result shows that there are distinguishing points such as floor area ratio, distance to main city center of seoul or subway station between both regions. The result of analysis show that the land, access, environmental factors that affect the winning price rate of commercial facility sites in public land development projects vary depending on the southern and northern regions of Gyeonggi-do. The southern region is most affected by the number of households in the district and The northern region is most affected by floor area ratio. In addition, the closest of distance from seoul's main city center affect both areas, but its direction appears to be reversed The implications could be used as a useful criterion for determining the price of the commercial land in new public land development projects for housing supply.