Abstract The purpose of this study is to quantitatively analyze the effect of Jeju Olle Trails on nearby land prices. Land sale prices are designated as the dependent variable and zoning type and land category, shape of the land, and the width of bordering roads as independent variables. Land price data for actual sales for seven areas surrounding Olle Trails were examined with a geographic information system program to determine the exact distance of land parcels from nearby trekking courses. A quantile regression model is used to estimate the effect of trail proximity to nearby land prices. Through this quantile regression model, the difference in the effects of trail proximity between low-priced and high-priced land is captured. This study shows no significance for the variable up to quantile 0.6; however, the variable becomes significant from the 0.7 quantile and up. This suggests that plots in the top 30% of land prices are affected by the presence of trails, but the plots in the bottom 70% are not affected by this variable. For every 100 m distance from an Olle Trail, land price falls by 0.054%.

中文翻译：

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小径对韩国济州岛周边房地产价值的影响：使用分位数回归

摘要这项研究的目的是定量分析济州奥勒步道对附近土地价格的影响。土地销售价格被指定为因变量，分区类型和土地类别，土地形状以及边界道路的宽度被指定为自变量。使用地理信息系统程序检查了Olle Trails周围七个地区实际销售的土地价格数据，以确定与附近徒步路线之间的地块的确切距离。分位数回归模型用于估计小径对附近土地价格的影响。通过这种分位数回归模型，可以了解低价土地和高价土地之间路径邻近效应的差异。这项研究表明，对于分位数为0.6的变量没有意义；然而，该变量从0.7分位数开始变得显着。这表明，土地价格最高的30％的地块会受到路径的影响，但底部70％的地块则不受此变量的影响。距奥勒步道（Olle Trail）每100 m的距离，土地价格下降0.054％。