Asset Details
Do you wish to reserve the book?
The Effect of Green Characteristics in Reducing the Inventory of Unsold Housing in New Residential Developments—A Case of Gyeonggi Province, in South Korea
Hey, we have placed the reservation for you!
By the way, why not check out events that you can attend while you pick your title.
Oops! Something went wrong.
Looks like we were not able to place the reservation. Kindly try again later.
Are you sure you want to remove the book from the shelf?
The Effect of Green Characteristics in Reducing the Inventory of Unsold Housing in New Residential Developments—A Case of Gyeonggi Province, in South Korea
Do you wish to request the book?
The Effect of Green Characteristics in Reducing the Inventory of Unsold Housing in New Residential Developments—A Case of Gyeonggi Province, in South Korea
Please be aware that the book you have requested cannot be checked out. If you would like to checkout this book, you can reserve another copy
We have requested the book for you!
Your request is successful and it will be processed during the Library working hours. Please check the status of your request in My Requests.
Oops! Something went wrong.
Looks like we were not able to place your request. Kindly try again later.
Journal Article
The Effect of Green Characteristics in Reducing the Inventory of Unsold Housing in New Residential Developments—A Case of Gyeonggi Province, in South Korea
2021
Overview
This study analyzes the effect of green characteristics on sales of unsold housing stock, using a multilevel growth model, in Gyeonggi Province, South Korea from 2012 to 2018. The green characteristics we estimated are external factors such as the proximity to urban parks and mountain trails located outside the housing complex and internal factors such as whether the area of communal open space within the complex exceeds a certain percentage. The results suggest that potential home-buyers are interested in green space inside rather than outside a housing complex in a suburban setting. Housing complexes with large enough communal open spaces had a 0.094 higher unsold unit ratio than complexes with small communal open spaces, but the surplus decreased more rapidly; the ratio declines by 0.028 per time unit. On the other hand, the results show no statistically significant effects of the distance to external green areas. This might be due to that public urban parks might not be an attraction to residents when forests and/or agricultural fields are in close proximity. The findings of this research will be utilized by construction companies and public institutions holding unsold units in improving their sales performance, not only in South Korea but also in other Asian regions showing a similar housing development pattern.
Publisher
MDPI AG
