Abstract

As times change, the factors influencing the prices of small and medium-sized buildings also change. There have been numerous studies on commercial establishments examining the impact of changes in phosphorus, but there is a lack of research on how the characteristics of small and medium-sized buildings affect sales prices. This study empirically analyzes how the characteristics of small and medium-sized buildings affect their sale prices. The findings are as follows. Small and medium-sized buildings with a large land area and high official land prices have a positive (+) effect on the sale price. Second, small and medium-sized buildings with a large floor area, as well as buildings that have violated regulations or have large floor areas (including underground floors) for space utilization, have a positive (+) effect on the sale price. However, the number of years that have passed since construction and the availability of parking have a negative (-) effect on the sale price of small and medium-sized buildings. In addition, it was found that the price of small and medium-sized buildings was affected by the type of buyer, a corporate investors had a positive (+) effect on the sale price. Therefore, small and medium-sized building investment entities should make decisions regarding acquisition, operation, and disposal while considering the characteristics of the building and the trading prices.

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