| 요약2 |
Apartments are the most popular housing type in Korea, with construction companies competing with one another to build ever-more splendid units. Each company tries to differentiate its apartments from those of others by creating apartment brands to increase the chances of attracting buyers. Apartment branding is simply one form of product differentiation. In the 1990s, names of apartment complexes were either eponymous with those of construction companies or reflected the geographical location of building sites. After the new millennium, names of newlybuilt apartments began to reflect the unique brand images of each construction firm. This new phenomena became known as “ apartment brand naming”, with premium brands such as “Raemian”,“ Xii”(pronounced Jai) and others making an appearance. A major trend in the current Korean apartment market is the varying consumer preference for different apartment brands and in this study we seek to analyzethe influence of apartment brands on apartment prices. This study began with the top-10 apartment construction firms in Seoul that possess their own brands. Then apartments consistent with these brands were extracted from the apartment data, under the requirements that apartments were at least 5 stories high but not greater than 35 stories. A total of 9640 apartment units in Seoul, Korea were collected as the raw data for this study. The data for explanatory variables were surveyed as apartment physical characteristics and neighborhood characteristics by Real Estate Bank. This paper analyzed the influence of apartment brands on apartment prices using HPM(Hedonic Price Model). Finally,the results are as follows. the Xii brand possessed the highest brand value. And the Raimian brand took the top spot. Centreville, Preugio brand exerted insignificant effects on price. This means that the 2 brands exhibited statistically-insignificant price differences with unbranded apartments. |