An Analysis on the Influencing Factors on the Sales Rates of Apartment Complexes - Focused on the Housing Characteristics of Apartment Unit Types

Abstract

Since apartments were introduced in the 1960s, they have evolved into a dominant housing type in our society. In apartment development projects, the performance such as the sales rate is the important indicator of the success or failure of the project. Developers offers several types of apartment with different sizes and designs in an apartment complex to meet needs and tastes of various segments. Often, the sales rates vary depending on the apartment size and unit types in the same apartment complex. Taking this into account, this study analyzes the influence of apartment unit characteristics on the sales rate of apartment unit type. As a result, this study shows that the various characteristics such as real estate market and policy, location, complex and housing type characteristics affect the sales rate of apartment unit type. This study confirms the real estate market and policy, location, complex characteristics influence the sales rate of apartment unit type. Especially, among the characteristics of apartment unit type, the proportion of exclusive use has a negative impact on the sales rate of apartment unit type. On the other hand, the size of balcony, the number of bay, ᄀ-shaped kitchen layout, individual heating system and flat-type apartment building have positive effects on sales rate of apartment unit type.