[KSCI] Korea Science Citation Index Service

http://dx.doi.org/10.22640/lxsiri.2019.49.2.39

A Study on the Relation between the Single-track Subway and Housing Price - Focused on Row and Multi-family House around Eungam Loop Line of Seoul Subway Line 6 -

So, Soung-Kue (Dept. of Real Estate Studies, Konkuk Univ)
Oh, Sae-Joon (Dept. of Real Estate and Finance, Changshin Univ)
Lee, Kyu-Tai (Konkuk Research Inst. of Real Estate and Urban Studies)

Publication Information

Journal of Cadastre & Land InformatiX / v.49, no.2, 2019 , pp. 39-56 More about this Journal

Abstract

In this study, we analyzed the effect of the Eungam Loop Line of Seoul Subway Line 6 on the sale price of adjacent row and multi-family houses on the accessibility and structural characteristics of subway stations. This study empirically analyzed a total of 17,938 cases from 2006 to 2017 based on data on the sale price of row and multi-family houses. In summary, the results of this study using the Hedonic Price Model are as follows. First, this study confirms that the Eungam Loop Line characteristics have a positive effect on the sale price as it is adjacent to the subway station. It is noteworthy that the sale price of 100-200m segment has a positive effect, and the sale price of Bulgwang station, which has excellent mobility and connectivity with CBD, YBD and GBD, has a positive effect. Second, this study shows the locational characteristics such as distance to bus stop, distance to mart, and distance to school have influence on the sale price. Third, this study finds the land characteristics such as land area, land shape, land facing, and road width, have significant effects on the sale price. Fourth, this study discovers the sale price is also is also affected by building and floor characteristics such as the type of housing, building area, the number of households, building age, elevator, and floor level.

Keywords

Seoul Subway Line 6; Eungam Loop Line; Single-track Subway; Row-house; Multi-family House;

Citations & Related Records

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