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/m2 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.
Highlights
Land Price Using Spatial Analysis.Recently, development-restricted areas (DRAs) have become an issue up for discussion in South Korea
This study aimed to consider the effects of DRAs, reflecting realistic land prices in the land use management of metropolitan areas, including a management plan and comprehensive plan related to the DRA
To examine the impact of the DRA on the publicly announced land price, this study estimated the regression models based on the targeted areas and buffers
Summary
Land Price Using Spatial Analysis.Recently, development-restricted areas (DRAs) have become an issue up for discussion in South Korea. A DRA, called a greenbelt, is a green area set up for the purposes of improving the urban landscape and preserving the natural environment. It was initiated in the UK, and the concept was permanently established as an annular green area several miles wide around the city area according to the Greater London Plan of 1944. It is one of the most restrictive forms of urban containment policy [1]. Many greenbelt plans are being created all over the world to protect and conserve agricultural and natural spaces to cope with increasing urban sprawl [4,5,6,7,8,9]
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