A study on the Socio-economic Factors of Local Governments in Determining Individual Public Land Prices

This study was conducted to identify the socioeconomic factors of each local government that affect the rate of change in individual public land prices and to what extent these factors affect the rate of change in individual public land prices. The research results are implemented to contribute to establishing balance in our country's real estate price disclosure system. For the study, prior studies were investigated and analyzed to create a research model, and two hypotheses(a total of five detailed hypotheses) were established and verified. The first hypothesis(Hypothesis 1-1) of the three hypotheses belonging to the first hypothesis is that the previous year's market land price fluctuation rate and the standard land price fluctuation rate of the relevant year will have a positive (+) effect on the individual public land price fluctuation rate, and this hypothesis was accepted. Hypotheses 1-2, which state that socioeconomic factors of each local government (characteristics of local government heads, regional economic characteristics, and community characteristics) will affect the rate of change in individual public land prices, were also partially accepted. Hypotheses 1-3, which state that the government's political factors will have a positive (+) or negative (-) effect on the individual public land price fluctuation rate, were also partially accepted. In addition, the second hypothesis and sub-hypotheses that the types and sizes of socioeconomic factors affecting the individual public land price fluctuation rate can be differentiated according to land use (land use, land use area) were both accepted. Among the various factors affecting the rate of change in individual public land prices, the combined influence of the socioeconomic factors of local governments was found to be much greater than the influence of other variables. In light of this, it appears that the individual public land price fluctuation rate, which must ensure national balance, may be greatly affected by the characteristics of each local government. And the influence of socioeconomic factors affecting the rate of change in individual public land prices is differentiated depending on the land use or purpose area of the local government. Therefore, when determining the balance that should be applied commonly to all local governments, the influence of socioeconomic factors by land use and area should be taken into consideration.