• KSCE Journal of Civil and Environmental Engineering Research
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• v.37 no.5
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• pp.905-914
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• 2017

We examine 554 state basic districts and 1832 householders in Busan metropolitan city to see whether the physical and walkable characteristics of housing influence apartment housing prices. We use two-level models modeling for a more accurate analysis. Walkable characteristics in level 2 state basic districts potentially explain 77% of the variation in housing values, with the highest impact on crime safety characteristics. Overall, our spatial multi-level analysis based on new state basic districts in Korea explained price variation better than previous studies, which considered each householder. The results provide policy opportunities for planners and citizen groups to pursue strategies that encourage the development of walkable and sustainable neighborhoods.