As major cities worldwide face urban issues, such as traffic congestion, energy consumption, environmental pollution, and climate change, public transportation has been considered an important alternative. In particular, intermodalism of public transport is an effective policy measure to increase the use of public transport services. This study measures the integrated services of subway and buses in Seoul and analyzes their effects on residential and nonresidential land prices. Our models confirmed that metro and bus intermodalism generate positive effects on land prices although it was weaker than those of access to metro stations. Further, the models revealed that the land along straight streets within 1-km radius of metro station with more bus frequency and with more detour spots had gained more price premium. Overall, access to intermodalism of metro and bus is found to exert a greater positive effect on nonresidential than residential land prices. The results can aid in explaining and predicting the effects of intermodalism creation and expansion of public transportation services on the real estate market.