@article{ART002879607},
author={Lee Jaewon and Bae, Sang Young and Sangyoub Lee},
title={Effect of Redevelopment Project District Characteristics on Neighboring Housing Prices},
journal={Korea Real Estate Review},
issn={2092-5395},
year={2022},
volume={32},
number={3},
pages={53-76},
doi={10.35136/krer.32.3.4}
TY - JOUR
AU - Lee Jaewon
AU - Bae, Sang Young
AU - Sangyoub Lee
TI - Effect of Redevelopment Project District Characteristics on Neighboring Housing Prices
JO - Korea Real Estate Review
PY - 2022
VL - 32
IS - 3
PB - korea real estate research institute
SP - 53
EP - 76
SN - 2092-5395
AB - This study analyzed the impact of nearby redevelopment project characteristics on the apartment and single/multi-family house prices in all areas of Seoul. The impact of the distance to the redevelopment project area, the number of supply households, and the number of project areas were analyzed using the housing sale transaction price from 2006 to 2020, and all housing types show the same direction. Findings reveal that the closer the supply of households, the higher the transaction price. Moreover the number of project areas has a positive effect after a certain distance. This indicates a positive effect on factors such as price synchronization when new houses are supplied from nearby project areas, expectations as project candidates, and shares in the benefits of improving the residential environment. Redevelopment projects are likely to be used as large-scale housing supply assurance measures in the future. When designing an area, one must consider planning and progress by region so that the size, number of union members, and maintenance infrastructure ratio do not significantly impact the housing market. This study obtained general results for all regions in Seoul, yielding important policy implications and providing useful basic data to investors, public policymakers, and practitioners.
KW - All Seoul Regions;Redevelopment Project Area;Apartment Price;Housing Price;Hedonic Price Model
DO - 10.35136/krer.32.3.4
ER -
Lee Jaewon, Bae, Sang Young and Sangyoub Lee. (2022). Effect of Redevelopment Project District Characteristics on Neighboring Housing Prices. Korea Real Estate Review, 32(3), 53-76.
Lee Jaewon, Bae, Sang Young and Sangyoub Lee. 2022, "Effect of Redevelopment Project District Characteristics on Neighboring Housing Prices", Korea Real Estate Review, vol.32, no.3 pp.53-76. Available from: doi:10.35136/krer.32.3.4
Lee Jaewon, Bae, Sang Young, Sangyoub Lee "Effect of Redevelopment Project District Characteristics on Neighboring Housing Prices" Korea Real Estate Review 32.3 pp.53-76 (2022) : 53.
Lee Jaewon, Bae, Sang Young, Sangyoub Lee. Effect of Redevelopment Project District Characteristics on Neighboring Housing Prices. 2022; 32(3), 53-76. Available from: doi:10.35136/krer.32.3.4
Lee Jaewon, Bae, Sang Young and Sangyoub Lee. "Effect of Redevelopment Project District Characteristics on Neighboring Housing Prices" Korea Real Estate Review 32, no.3 (2022) : 53-76.doi: 10.35136/krer.32.3.4
Lee Jaewon; Bae, Sang Young; Sangyoub Lee. Effect of Redevelopment Project District Characteristics on Neighboring Housing Prices. Korea Real Estate Review, 32(3), 53-76. doi: 10.35136/krer.32.3.4
Lee Jaewon; Bae, Sang Young; Sangyoub Lee. Effect of Redevelopment Project District Characteristics on Neighboring Housing Prices. Korea Real Estate Review. 2022; 32(3) 53-76. doi: 10.35136/krer.32.3.4
Lee Jaewon, Bae, Sang Young, Sangyoub Lee. Effect of Redevelopment Project District Characteristics on Neighboring Housing Prices. 2022; 32(3), 53-76. Available from: doi:10.35136/krer.32.3.4
Lee Jaewon, Bae, Sang Young and Sangyoub Lee. "Effect of Redevelopment Project District Characteristics on Neighboring Housing Prices" Korea Real Estate Review 32, no.3 (2022) : 53-76.doi: 10.35136/krer.32.3.4
