Analysis of the Implication of Accessibility to Community Facilities for Land Price in Rural Areas using a Hedonic Land Price Model

Year
2016
Type(s)
Author(s)
Solhee Kim, Taegon Kim, Kyo Suh
Source
Journal of Korean Society of Rural Planning Vol.22 No.1, 2016, pp.93-100
Url
http://www.jksrp.or.kr/journal/article.php?code=43756

Land price can be affected by convenience or psychological repulsion like PIMFY (Please In My Front Yard) or NIMBY (Not In My Back Yard) for various facilities. Services related to public establishment, welfare, medical attention, and amenities in rural areas are comparatively poorer than those in urban areas. The purpose of this study is to estimate the implications of the accessibility to community facilities in rural areas for land prices using a hedonic price model. The accessibility to facilities is estimated by real road distances and the land prices are applied for four types of land usages: field, rice paddy, building lots, and village halls. Community facilities are classified from public and community services view: education, safety, culture, transport, environment, health care, and finance. The results show that the accessibility to health care and transport can positively affect land prices and the accessibility to environment (waste facilities and junkyard) and unpleasant services (funeral hall and charnel house) can negatively affect land prices. Especially, the accessibility to hospital is the most positive influential factor for all types of land usages.

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