An Analysis of the Effects of Development-Restricted Areas on Land Price Using Spatial Analysis
The purpose of this study was to estimate the effects of development-restricted areas (DRAs) on land price. The study area used was Goyang city in South Korea, where DRAs occupy a large proportion of the city’s administrative area. To examine the economic impact of the DRA, this study estimated log-...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
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MDPI AG
2021-06-01
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| Series: | Land |
| Subjects: | |
| Online Access: | https://www.mdpi.com/2073-445X/10/6/660 |
| Summary: | The purpose of this study was to estimate the effects of development-restricted areas (DRAs) on land price. The study area used was Goyang city in South Korea, where DRAs occupy a large proportion of the city’s administrative area. To examine the economic impact of the DRA, this study estimated log-linear regression models and calculated the difference between the land price determined within the DRA and the land price of the developed areas within buffers created by using a geographic information system (GIS). The results showed that a designation of DRA decreased land price, and that there was a large difference in the land price between the inner and the outer DRA, with a difference of USD 871/m<sup>2</sup> in the average land price of the study area. These results serve as a reference for policymakers regarding land use in metropolitan areas in the future. |
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| ISSN: | 2073-445X |