A Comparative Study on Apartment Price Determinants and Brand Value : Focused on Buk-gu, Ulsan

The purpose of this study is to identify the characteristics that affect apartment price determination between upper and lower price areas in the same autonomous district of the regional submarket in a situation where regional polarization is deepening, and to identify how the value weight differs if there is a gap between brands. To this end, a cross-sectional multiple regression analysis was conducted on the number of apartment transactions in the past five years in Hwabong-dong, the upper price area of Buk-gu, Ulsan Metropolitan City, and Cheongok-dong, the lower price area, with the actual transaction price per 3.3㎡ as the dependent variable and the apartment structure, complex, location, and brand characteristics as independent variables. As a result of the analysis, first, among the statistically significant variables for the five years, the price of apartments increased in the negative (-) direction in Hwabong-dong, the upper price area, regardless of the price increase and decrease period, and in the positive (+) direction in Cheongok-dong, the lower price area, the price of apartments increased in the positive (+) direction. Second, in the lower price area, the brand value weight was confirmed to be greater in the decrease period than in the increase period. This phenomenon suggests that marketing strategies such as mixing and matching branded or non-branded apartments with balanced units should be utilized in accordance with the characteristics of the real estate market.