An Analysis of the Effects of Development-Restricted Areas on Land Price Using Spatial Analysis

Dongkwan Lee and Choongik Choi
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Dongkwan Lee: Institute of Social Science, Kangwon National University, 1 Gangwondaehak-gil, Chuncheon 24341, Korea
Choongik Choi: Department of Public Administration, Kangwon National University, 1 Gangwondaehak-gil, Chuncheon 24341, Korea

Land, 2021, vol. 10, issue 6, 1-21

Abstract: The purpose of this study was to estimate the effects of development-restricted areas (DRAs) on land price. The study area used was Goyang city in South Korea, where DRAs occupy a large proportion of the city’s administrative area. To examine the economic impact of the DRA, this study estimated log-linear regression models and calculated the difference between the land price determined within the DRA and the land price of the developed areas within buffers created by using a geographic information system (GIS). The results showed that a designation of DRA decreased land price, and that there was a large difference in the land price between the inner and the outer DRA, with a difference of USD 871/m 2 in the average land price of the study area. These results serve as a reference for policymakers regarding land use in metropolitan areas in the future.

Keywords: development-restricted area; greenbelt; spatial analysis (search for similar items in EconPapers)
JEL-codes: Q15 Q2 Q24 Q28 Q5 R14 R52 (search for similar items in EconPapers)
Date: 2021
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