The purpose of this study is to analyze the differential values of categorical landscape in apartment price in Bundang, New Town. The data used as dependent variables in this study were the sales prices of 912 houses in 40 apartment complexes where the mountain, the river, or the parks are visible from the houses. Independent variables are composed of physical housing characteristics, complex characteristics, time characteristics, closeness of landscape characteristics and landscape view characteristics.
In this study, the hedonic price model is used to estimate the landscape value of urban landscape resources. Research was based on three models. The first is the combined landscape view model of mountain, river and park. The second is the individual landscape view model of mountain, river and park. Landscape view and landscape closeness variables are proven as significant variables in the result of the combined model. In individual landscape visibility model, mountain, river and park variables were significant and the view of a mountain affects the housing price by approximately 6%. The order of prices for landscape closeness from the most to the least is the presence of the park, mountain, and river. In addition, the order of prices for landscape view from the most to the least is the presence of the mountain, river, and park. The third is the landscape view openness model. The result of the landscape view model shows that open view increases housing price more than partially blocked view.