Determinants of Housing Price by Region of Seoul

Q4 Medicine
U-hui Lee, Hae Jung Chun
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 In the analysis results, the Gangnam 3-gu emerged as the region with the highest housing prices. It was observed that the longer the elapsed years, the more the anticipation of reconstruction was reflected in housing prices for older apartments. Additionally, a strong preference for convenient living facilities and an excellent educational environment was evident, indicating a dual focus on residential convenience and investment purposes.
 On the other hand, the Nodogang region had the lowest housing prices. The elapsed years were found to be significant only beyond a certain generational threshold. Preference for living convenience facilities showed contrasting results compared to the Gangnam 3-gu. Furthermore, the importance of proximity to subway stations was highlighted, indicating anticipation for reconstruction alongside the significance of convenient public transportation in this region.
 The Mayongseong region fell into the category of higher housing prices. It consisted relatively of newly constructed apartments, and the preference leaned more towards a pleasant residential environment rather than anticipation for reconstruction. This area exhibited a lower connectivity to subway stations, and there was a preference for a close proximity to local markets. In terms of pursuing residential convenience, it displayed similarities to the Gangnam 3-gu.","PeriodicalId":34983,"journal":{"name":"Korean Journal of Dermatology","volume":"13 1","pages":"0"},"PeriodicalIF":0.0000,"publicationDate":"2023-09-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Korean Journal of Dermatology","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.37407/kres.2023.41.3.173","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q4","JCRName":"Medicine","Score":null,"Total":0}
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Abstract

This study conducted empirical analysis using the hedonic price model to examine regional differences in the determinants of housing prices among the representative examples of decoupling phenomena in inter-regional housing price movements, namely, “Gangnam 3-gu”, “Nodogang”, and “Mayongseong”, from 2017 to 2022. In the analysis results, the Gangnam 3-gu emerged as the region with the highest housing prices. It was observed that the longer the elapsed years, the more the anticipation of reconstruction was reflected in housing prices for older apartments. Additionally, a strong preference for convenient living facilities and an excellent educational environment was evident, indicating a dual focus on residential convenience and investment purposes. On the other hand, the Nodogang region had the lowest housing prices. The elapsed years were found to be significant only beyond a certain generational threshold. Preference for living convenience facilities showed contrasting results compared to the Gangnam 3-gu. Furthermore, the importance of proximity to subway stations was highlighted, indicating anticipation for reconstruction alongside the significance of convenient public transportation in this region. The Mayongseong region fell into the category of higher housing prices. It consisted relatively of newly constructed apartments, and the preference leaned more towards a pleasant residential environment rather than anticipation for reconstruction. This area exhibited a lower connectivity to subway stations, and there was a preference for a close proximity to local markets. In terms of pursuing residential convenience, it displayed similarities to the Gangnam 3-gu.
首尔各地区房价的决定因素
本研究以2017 - 2022年“江南3区”、“老道港”和“马城城”三个具有代表性的区域间房价走势脱钩现象为研究对象,运用hedonic价格模型对房价决定因素的区域差异进行实证分析。 分析结果显示,江南3区是房价最高的地区。据观察,时间越长,旧公寓的房价反映出的重建期待越多。此外,人们对便利的生活设施和良好的教育环境有强烈的偏好,这表明人们对居住便利和投资目的的双重关注。 相反,住宅价格最低的地区是老道港地区。研究发现,过去的岁月只有在超过某一代人的阈值之后才有意义。对生活便利设施的偏好与江南3区截然不同。此外,强调了靠近地铁站的重要性,表明了对重建的期待,以及该地区便利的公共交通的重要性。 马城地区属于房价上涨地区。它由相对新建的公寓组成,人们更倾向于一个舒适的居住环境,而不是对重建的期望。该区域与地铁站的连通性较低,并且更倾向于靠近当地市场。在追求居住便利性方面,它与江南3区有相似之处。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
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来源期刊
Korean Journal of Dermatology
Korean Journal of Dermatology Medicine-Dermatology
CiteScore
0.10
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