This study analyzes the effect of green characteristics on sales of unsold housing stock, using a multilevel growth model, in Gyeonggi Province, South Korea from 2012 to 2018. The green characteristics we estimated are external factors such as the proximity to urban parks and mountain trails located outside the housing complex and internal factors such as whether the area of communal open space within the complex exceeds a certain percentage. The results suggest that potential home-buyers are interested in green space inside rather than outside a housing complex in a suburban setting. Housing complexes with large enough communal open spaces had a 0.094 higher unsold unit ratio than complexes with small communal open spaces, but the surplus decreased more rapidly; the ratio declines by 0.028 per time unit. On the other hand, the results show no statistically significant effects of the distance to external green areas. This might be due to that public urban parks might not be an attraction to residents when forests and/or agricultural fields are in close proximity. The findings of this research will be utilized by construction companies and public institutions holding unsold units in improving their sales performance, not only in South Korea but also in other Asian regions showing a similar housing development pattern.

中文翻译：

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绿色特征在减少新住宅开发中的未售房屋库存中的作用-以韩国京畿道为例

本研究使用多层次增长模型分析了2012年至2018年韩国京畿道绿色特征对未售出房屋销售的影响。我们估算的绿色特征是外部因素，例如与城市公园的距离和山道的接近性位于住房综合体外部的因素以及内部因素，例如综合体内部的公共开放空间的面积是否超过一定百分比。结果表明，潜在的购房者对郊区环境中的住宅区内部而不是外部的绿色空间感兴趣。拥有足够公共用地的住宅建筑群的未售单元比率比具有较小公共用地的建筑群的未售单元比率高0.094，但剩余减少得更快。该比率每时间单位下降0.028。另一方面，结果表明，到外部绿色区域的距离没有统计学上的显着影响。这可能是由于当森林和/或农田紧邻时，公共城市公园可能对居民没有吸引力。这项研究的结果将被持有未售出单位的建筑公司和公共机构用于改善其销售业绩，不仅在韩国，而且在其他表现出相似住房开发模式的亚洲地区也是如此。