@article{ART002478678},
author={Hwang, Hyun Ju and Eui-Chul Chung},
title={Effects of Railway Construction Stages and Distance to Railway Station on Apartment Prices in the Surrounding Areas : Case of the Second Phase of the Sinbundang-Line},
journal={Korea Real Estate Review},
issn={2092-5395},
year={2019},
volume={29},
number={2},
pages={69-83},
doi={10.35136/krer.29.2.5}
TY - JOUR
AU - Hwang, Hyun Ju
AU - Eui-Chul Chung
TI - Effects of Railway Construction Stages and Distance to Railway Station on Apartment Prices in the Surrounding Areas : Case of the Second Phase of the Sinbundang-Line
JO - Korea Real Estate Review
PY - 2019
VL - 29
IS - 2
PB - korea real estate research institute
SP - 69
EP - 83
SN - 2092-5395
AB - This study examines the effects of a railway construction project on apartment prices in the surrounding areas. By focusing on the second phase (Jeongja-Gwanggyo) of the Sinbungdang-Line railway construction, the effects of railway construction stages on apartment prices in the surrounding areas are empirically analyzed. Furthermore, the effect of the distance to the nearest subway station on apartment prices is also examined at each period of the construction stages. Empirical results show that apartment price increases occur as construction stages progress. Compared to the period of the construction project proposal stage, apartment price is estimated to be about 15% higher after the railway construction is completed and begins operations. The effect of distance is more differentiated as construction stages get underway. Within the period of the construction project proposal stage, apartment price decreases by 1% per 100m from the station, which is strengthened to 2.4% during the opening and operation stage. Preference for apartments close to the subway station becomes higher as improvement of commuting accessibility is more convinced.
KW - Sinbundang-Line;apartment prices;construction stages;distance to station
DO - 10.35136/krer.29.2.5
ER -
Hwang, Hyun Ju and Eui-Chul Chung. (2019). Effects of Railway Construction Stages and Distance to Railway Station on Apartment Prices in the Surrounding Areas : Case of the Second Phase of the Sinbundang-Line. Korea Real Estate Review, 29(2), 69-83.
Hwang, Hyun Ju and Eui-Chul Chung. 2019, "Effects of Railway Construction Stages and Distance to Railway Station on Apartment Prices in the Surrounding Areas : Case of the Second Phase of the Sinbundang-Line", Korea Real Estate Review, vol.29, no.2 pp.69-83. Available from: doi:10.35136/krer.29.2.5
Hwang, Hyun Ju, Eui-Chul Chung "Effects of Railway Construction Stages and Distance to Railway Station on Apartment Prices in the Surrounding Areas : Case of the Second Phase of the Sinbundang-Line" Korea Real Estate Review 29.2 pp.69-83 (2019) : 69.
Hwang, Hyun Ju, Eui-Chul Chung. Effects of Railway Construction Stages and Distance to Railway Station on Apartment Prices in the Surrounding Areas : Case of the Second Phase of the Sinbundang-Line. 2019; 29(2), 69-83. Available from: doi:10.35136/krer.29.2.5
Hwang, Hyun Ju and Eui-Chul Chung. "Effects of Railway Construction Stages and Distance to Railway Station on Apartment Prices in the Surrounding Areas : Case of the Second Phase of the Sinbundang-Line" Korea Real Estate Review 29, no.2 (2019) : 69-83.doi: 10.35136/krer.29.2.5
Hwang, Hyun Ju; Eui-Chul Chung. Effects of Railway Construction Stages and Distance to Railway Station on Apartment Prices in the Surrounding Areas : Case of the Second Phase of the Sinbundang-Line. Korea Real Estate Review, 29(2), 69-83. doi: 10.35136/krer.29.2.5
Hwang, Hyun Ju; Eui-Chul Chung. Effects of Railway Construction Stages and Distance to Railway Station on Apartment Prices in the Surrounding Areas : Case of the Second Phase of the Sinbundang-Line. Korea Real Estate Review. 2019; 29(2) 69-83. doi: 10.35136/krer.29.2.5
Hwang, Hyun Ju, Eui-Chul Chung. Effects of Railway Construction Stages and Distance to Railway Station on Apartment Prices in the Surrounding Areas : Case of the Second Phase of the Sinbundang-Line. 2019; 29(2), 69-83. Available from: doi:10.35136/krer.29.2.5
Hwang, Hyun Ju and Eui-Chul Chung. "Effects of Railway Construction Stages and Distance to Railway Station on Apartment Prices in the Surrounding Areas : Case of the Second Phase of the Sinbundang-Line" Korea Real Estate Review 29, no.2 (2019) : 69-83.doi: 10.35136/krer.29.2.5
