Investigating Impacts of Subway Line and Station Features on Apartment Resale Prices

Kang， Sujin; Wonseok Seo

doi:10.15793/kspr.2016.89..009

KJC Korea
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The Korea Spatial Planning Review 2021 KCI Impact Factor : 1.23

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pISSN : 1229-8638

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Investigating Impacts of Subway Line and Station Features on Apartment Resale Prices

The Korea Spatial Planning Review
2016, 89(), pp.149-162
DOI : 10.15793/kspr.2016.89..009

Publisher : 국토연구원
Research Area :

Kang， Sujin ¹, Wonseok Seo ¹

¹중앙대학교

ABSTRACT
열림/닫힘 버튼

This study focuses on investigating line and station features affecting apartment resale prices associated with 14 subway lines in Seoul based on Box-Cox model. As a result, this study finds that some features related to subway station, such as private capital station, express subway, and underground station, have significant impacts on apartment resale prices. This study also finds that bundang line, line 9, and airport line have the most significant impacts on the prices relative to line 1. The empirical results indicate that typically major business districts (YBD, CBD, GBD) and gangnam area play an important role for the premium of apartment prices. This study finally gives three implications. First, because the location feature fundamentally has great impact on neighborhood, a subway line that passes a residential area should be considered its residential convenience and sustainable environments when its new development and mainternance. Second, during the selection process of intermodal transfer center, it needs to consider where the strategic key point and route should be selected. Lastly, when estimating the subway traffic demand, adopting weight adjustment by route and region is necessary.
KEYWORDS
열림/닫힘 버튼

Subway, Subway Line, Subway Station, Box-Cox Model, Apartment Price, Housing

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* 2021년 이후 발행 논문의 참고문헌은 현재 구축 중입니다.

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