Determinants of Rent and Revenue in New Town Neighborhood Commercial Facilities: A Case of Sejong Special Self-Governing City

This study analyzes factors influencing neighborhood commercial facilities in Sejong Special Self-Governing City's new town development districts. Using data from the second half of 2023, the study examines how building, location, population, and urban planning characteristics affect commercial facilities' performance through multiple regression and GWR(Geographically Weighted Regression) analyses. Results show that proximity to government complex positively influences both rent and sales, while residential population demonstrates a similar positive effect. Significantly, higher commercial area ratios negatively impact both metrics, indicating that oversupply weakens market function. GWR analysis reveals these relationships vary spatially across regions. This study provides policy implications for optimal commercial area planning in new town development and practical insights for private developers.