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Identification of Spatial Housing Submarkets in the Capital Region Using Self Organizing Map and Chow Test

Chul Sohn 1

1강릉원주대학교

Accredited

ABSTRACT

In this study, the existence of spatial housing submarkets in the Capital Region was tested using Self Organizing Map and Chow Test. The Self Organizing Map was used to form 9 large sized area-wide socio-economically homogeneous regional clusters and 44 middle sized area-wide socio-economically homogeneous regional clusters. To form the clusters, 13 socio-economic indicators of the 78 spatial administrative units in the Capital Region were used. One of the 9 large sized regional clusters, which includes non-Seoul spatial administrative units, was selected and, then, the stability of the coefficients of the hedonic housing price functions across the adjoining spatial administrative units in the cluster was tested using Chow Tests. The results of these tests showed that there exist spatially very disaggregated housing submarkets in this area. The results imply that we need to see the housing market of the Capital Region as intrinsically spatially disaggregated when we estimate hedonic housing price functions for this area and one should consider using Spatial Expansion Method or Geographically Weighted Regression which allows the spatial changes of the parameter values to conduct hedonic analyses about the Capital Region.

Citation status

* References for papers published after 2022 are currently being built.