earticle

영어

The official assessed individual land price plays a significant role in assigning and collecting taxation. However, the commercial rent in certain areas of Seoul are based off the fair market price and not their assessed land value. In order to clarify the relationship between these factors in this research, we focus on the correlation between the commercial rents and the assessed land value, using empirical evidence in the commercial districts in Seoul. As the research hypothesis, we expect whether the commercial rent in certain areas statistically correlates with the official assessed individual land price. We examine the research question by applying the commercial real estate miro-data in 2013 to 2017. The study covers three major commercial districts: CBD, Gangnam, the Shinchon and Mapo area. As the result, the two commercial districts among the three areas in 2015 have statistically positive correlations that means the commercial rents goes up, the land values also goes up. However, the result is not able to explain for all distracts so that is difficult to generalize.