Journal of Korea Planning Association (국토계획)

Korea Planning Association (대한국토도시계획학회)
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Impact of Spatial Accessibility Index, Based on Road Network and Actual Trips, on Housing Price

도로 네트워크와 통행량 기반의 공간 접근성 지수가 주택가격에 미치는 영향

  • Chae, Jung Pyo (Dept. of Road Transport, Korea Transport Institute) ;
  • Sung, Hyungun (Dept. of Urban Engineering, Chungbuk National University)
  • Received : 2018.01.27
  • Accepted : 2019.03.21
  • Published : 2019.04.30
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Abstract

This study aims to empirically identify the effect of spatial accessibility, based on travel, on housing prices in the Korean capital region. More specifically, it has two research purposes: First, investigating the effect of comprehensive spatial accessibility, based on road network and actual trips from origin to destination, on average apartment price (Korean Won per square meter) at the level of Eup, Myeon and Dong; Second, identifying better accessibility index between Hansen's and Kalogirou and Foley's ones. The former represents a road-based travel time decay function with destination trips, while the latter is a function with origin trips as well as destination ones. The study employs spatial economic models considering spatial auto-correlative relationship as an appropriate methodology with such control independent indicators as population density, road density, educational environment and distances from CBDs. Analysis results demonstrate that spatial accessibility, based on road network and actual trips from origin to destination, has a statistically significant impacts on housing price in the region. Our empirical evidence proves that the Hansen index is more appropriate than the other in estimating housing price impacts.

Keywords

References

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