Year: 2020
Type: article
Abstract: This study aims to examine the relationship between the level of walkability and housing prices in Seoul, Korea. The average transaction price per square meter for each apartment complex was set as a dependent variable and the walkability score was used as an independent variable. This study divided a total of 5986 apartment complexes into areas with high and low housing prices for analysis. Based on the strong spatial autocorrelations of housing prices, this study employed spatial regression models in addition to the Ordinary Least Squares (OLS) model. Results showed that housing prices positively correlated with the walkability score in areas with low housing prices, whereas no significant association was observed in areas with high housing prices. Additional findings showed that housing prices were associated with building age (−), number of households in the complex (+), slope (−), and greenness (+) in both subsamples. Results also showed that high school quality had a different association with housing prices depending on the subsample (e.g., the sign was positive in areas with high housing prices and no significance in areas with low housing prices). The results herein support public policy proposals relevant to urban planning, environmental design, and housing policies.
Source: Sustainability
DOI: 10.3390/su12020593
Authors: Eun Jung Kim, Hyunjung Kim
Institutions: Keimyung University, Seoul National University
Language: English
Topic: Housing Market and Economics
Subfield: Economics and Econometrics
Domain: Social Sciences
Open Access status: gold
Estimated APC paid: $1,901
Awards: G5919888181, G830290810
OpenAlex ID: W2998736299