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This study aims to identify the characteristics of apartment price determinants between two local submarkets, and to ascertain the price differential between branded and non-branded apartments and corporate location. Multi-Regression analysis was conducted on the total number of apartments transacted in Geoje City over the past four years, using the actual transaction price of apartments as the dependent variable and structure, complex, brand, and corporate location characteristics as independent variables. The results indicate that in Suyang-dong(high prices), the variables of floor, floor area ratio, and brand have a positive effect, while the variables of rooms and corporate distance have a negative effect. In Okpo-dong(low prices), the number of car parking spaces and brand variables have a positive effect. Branded apartments are priced higher than non-branded apartments. Additionally, the value ratio of branded apartments is higher in the lower-priced area. Price discrepancies may exist within the same area, Consequently, branded apartments that cater to local characteristics can command high prices, even in price sub-areas.
Lee et al. (Sun,) studied this question.