| Title |
A Differential Pricing Model for Industrial Land based on Locational Characteristics |
| Keywords |
differential pricing model;industrial land;locational characteristics;support vector regression;차등적 가격산정모형;산업용지;입지특성;서포트 벡터 회귀분석 |
| Abstract |
This paper proposes a differential pricing model for industrial land based on locational characteristics, using Support Vector Regression (SVR) as a land pricing methodology. The initial selling price of industrial land is set based on the total cost of site development that comprises the land acquisition cost and tax, land development expense, infrastructure installation cost, labor cost, migration expense, selling and administrative expense, capital cost, and so on. However, the current industrial land pricing method unreasonably applies the same price per square meter to all parcels within an industrial complex without considering differences in price depending on the location of each parcel. Therefore, this paper proposes an empirical land pricing model to solve this irrationality and verifies its validity and applicability. |