• Journal of Digital Convergence
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• v.12 no.2
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• pp.45-59
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• 2014

Real estate has been the most preferable investment asset since 1980's has begun. Especially the ups and downs of housing price influence significantly on the household and national economy for a digital economy. In this analysis, monthly movement of apartment price of Seoul and its correlation with KOSPI, construction concerned shares, securities concerned shares, interest rate and exchange rate for 320 months(from January, 1987 to August, 2013) are shown. From the analysis, correlation coefficient of the price of apartment in Seoul and KOSPI is 0.8566 which is highly positive while the price of apartment in Seoul and interest rate are shown strong negative correlation which is -0.7846. The rise of stock market does affect the rise of the price of apartments in Seoul, on the contrary, the price goes down when the interest rate goes up.

• Journal of the Korean association of regional geographers
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• v.10 no.3
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• pp.592-605
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• 2004

The research analyzes data on housing(apartments) value and educational level(45$\sim$59 aged) in Seoul. The results of the research show that: since the economic crisis of 1997 out of which Korea was rescued by the IMF, it is evident that the spatial process of increasing residential segregation and the regional differentiation of housing price are inextricably interrelated. Through time-series analysis for the education level by the administrative unit of Dong in Seoul, already in 1990 the residential segregation by the educational groups was observed, it is acknowledged that this residential segregation has been reproduced continuously. The rate of residence of the highly educated groups in an administrative Dong is closely related to the variation of the housing value within the Dongs. The housing value in the period 1997$\sim$2003 has risen sharply in the regions where highly educated groups are spatially concentrated. That of other regions have stagnated or have risen marginally thus, the regional differences of the housing value have greatly increased. The differentiation of housing price reflects the residential segregation.

• 주택과사람들
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• no.35 s.52
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• pp.89-91
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• 1994

서울시내 소형 아파트 가격에 이어 서울시 및 신도시 일부 지역의 중대형 아파트 가격도 최근 상승세로 돌아섰다는 일부 보도내용과 관련. 주택국의 주택투기 단속반이 언론보도된 아파트를 대상으로 직접 현장조사한 결과는 다음과 같다.

• Journal of Korean Society of Transportation
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• v.27 no.6
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• pp.89-96
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• 2009

The present study is performed to identify the relationship between apartment prices and distances from freeway interchanges. To collect consistent data and to simplify the sphere of the influence, the Seoul beltway was selected as the target road. Two sides of the Seoul beltway such as the inner side and the outer side are partitioned following the whole beltway line. The maximum distance to be taken care of in data collection was 6.0km from freeway interchanges. Results show that there exist consistent patterns between apartment prices and distances from freeway interchanges. In detail, if the apartment is located on the sphere of the influence, it is shown that a) the prices are increased overall b) the prices are low at very near of interchanges c) the prices are increasing up to the points of about 2.0~4.0km from interchanges d) the prices are decreasing after the points. Additionally, it is shown the pattern observed was following approximately a quadratic curve which is different from the liner curve obtained from the similar study over the sphere of the influence in railway(Subway).

• Journal of Cadastre & Land InformatiX
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• v.52 no.2
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• pp.211-231
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• 2022

This study attempted to identify the effects of macroeconomic variables such as the All Industry Production Index, Consumer Price Index, CD Interest Rate, and KOSPI on apartment lease prices divided into nationwide, Seoul, metropolitan, and region, and to present a methodological prediction model of apartment lease prices by region using Long Short Term Memory (LSTM). According to VAR analysis results, the nationwide apartment lease price index and consumer price index in Lag1 and 2 had a significant effect on the nationwide apartment lease price, and likewise, the Seoul apartment lease price index, the consumer price index, and the CD interest rate in Lag1 and 2 affect the apartment lease price in Seoul. In addition, it was confirmed that the wide-area apartment jeonse price index and the consumer price index had a significant effect on Lag1, and the local apartment jeonse price index and the consumer price index had a significant effect on Lag1. As a result of the establishment of the LSTM prediction model, the predictive power was the highest with RMSE 0.008, MAE 0.006, and R-Suared values of 0.999 for the local apartment lease price prediction model. In the future, it is expected that more meaningful results can be obtained by applying an advanced model based on deep learning, including major policy variables

• Journal of Digital Convergence
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• v.12 no.5
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• pp.89-99
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• 2014

Correlation of KOSPI from stock market and Apartment Prices in Seoul HPPCI from real estate market has been found from this research. Furthermore, from the comparison of those indicators' flows, certain precedence was found as well. The purpose of this research is to analyze correlation and precedence among KOSPI, Apartment price in Seoul, HPPCI and CLI. As for predicting KOSPI of stock market and real estate market, it is necessary to find out preceding indices and analyzing their progresses first. For 27 years from the January 1987 to December 2013, KOSPI has been grown by 687%, while CLI showed 443%, Apartment of Seoul showed 391%, HPPCI showed 263% of growth rate in order. As the result of correlation analysis among Apartment of Seoul, CLI, KOSPI and HPPCI, KOSPI and HPPCI showed high correlation coefficient of 0.877, and Apartment of Seoul and CLI showed that of 0.956 which is even higher. Result from the analysis, CLI shows high correlation with stock and real estate market, it is a good option to watch how CLI flows to predict stock and real estate market.

• Land and Housing Review
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• v.14 no.1
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• pp.33-46
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• 2023

This study investigated price factors for large apartment complexes in Seoul during the COVID-19 pandemic and compared Gangnam and non-Gangnam areas, which have been recognized as heterogeneous markets. We find that the change in apartment prices in large-scale complexes did not significantly affect the individual characteristics of apartments, unlike previous studies, but was affected by macroeconomic variables such as interest rates and money. On the other hand, considering the units of the interest rate and total monetary volume variables, the effects of two variables on the apartment sales price is significantly high. In addition, the Gangnam area model analysis shows that apartment prices are greatly affected by interest rates and currency volume, and, the non-Gangnam area model analysis shows that apartment prices are greatly affected by interest rates and currency volume, but the degrees are different from the Gangnam area model. Overall, our study shows that interest rates and money supply were the main factors of apartment price changes, but apartment prices in non-Gangnam areas are more sensitive to changes in interest rates and money supply.

• Environmental and Resource Economics Review
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• v.10 no.4
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• pp.483-494
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• 2001

본 연구는 항공기 소음이 주택가격에 미치는 영향을 헤도닉가격기법을 적용하여 분석하고자 하였다. 국제공항이 인천으로 이전하기 전 서울지방항공청장이 소음피해지역(제1종, 제2종 및 제3종)으로 고시한 김포공항 주변의 아파트 가격을 주요 분석 대상으로 하였다. 소음측정단위로는 세계민간항공기구가 권장하는 연속적 동등소음감지단위(Weight Equivalent Continuous Perceived Noise Level: WECPNL)를 사용하였다. 2000년도 여름에 매매된 총 220가구를 대상으로 아파트의 실질거래가격과 소음측정단위, 가구속성 및 지역관련 변수를 사용하여 헤도닉 방정식을 추정한 결과 소음변수를 비롯 아파트 평수 및 방의 개수를 나타내는 변수에 대한 계수의 추정치는 통계적으로 매우 유의적으로 나타났다. 분석대상지역에 있어 항공기 소음의 한계내포가격은 평균 마이너스 340여 만 원으로 추정되었다. 이 추정치는 다시 말해 소음감지단위인 WECPNL이 한 단위 증가하게 되면 아파트의 평균매매 가격의 3.19%가 떨어지는 것을 의미하며 이 지역이 소음피해지역으로 고시되어 있는 상황을 매우 잘 나타내고 있었다.

• Land and Housing Review
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• v.12 no.4
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• pp.41-59
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• 2021

This study reviews theoretical considerations and past studies about real estate prices, macroeconomic variables, and real estate policies. Monthly data from January 2003 to June 2021 are used, and a VEC model, the most widely used multivariate time series analysis method, is employed for analysis. Through the model, the effects of macroeconomic variables and real estate regulatory policies on real estate prices in Seoul are analyzed. Findings are summarized as follows. First, macroeconomic variables such as money supply and interest rates do not have a significant impact on Seoul's apartment prices. Due to the high demand for housing and insufficient supply, there is a demand for buying a home regardless of macroeconomic booms or recessions. Second, tax and financial regulatory policies have an initial impact on the rise in apartment prices in Seoul, and their influence diminishes over time. Third, anti-speculation zones are expected to decrease apartment prices through the suppression of demand. However, these zones cause a rise in apartment prices. This could be understood as a lock-in effect due to the strengthening of capital gains tax. Fourth, the price ceiling did not decrease apartment prices. These findings propose that, in Seoul, where demand is high and supply is insufficient, the supply of high-quality and sufficient housing should be prioritized over various regulations such as tax regulations, financial regulations, anti-speculation zones, and price caps. Moreover, the findings provide an implication that city-specific real estate policies should be implemented for Seoul rather than regulation-oriented approaches in public policy.

• Journal of the Economic Geographical Society of Korea
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• v.20 no.3
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• pp.405-418
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• 2017

SHIFT is public rental housing policy introduced by Seoul Metropolitan in 2007, which works as Chonsei(korean unique deposit rental system). This paper examines the effect of SHIFT on Chonsei prices of neighborhood apartments. To estimate the change in prices of Chonsei after the provision of SHIFT, I collect data on Chonsei prices of apartments within a 5km radius from the SHIFT housings. Summary of main results are following. Chonsei prices of the apartments within a 2-3km radius decreased by 4.4% after the provision of SHIFT housings. In contrast, when it comes to apartments within a 1-2km radius, I can't find the stochastic relationship between the provision of SHIFT hosing and price changes. This results can be explained by "Offset effects" caused by real estate development. Provision of SHIFT can sequentially induce nearby area's development, which plays a factor in the effect of price increases. And this offset effects varies in each apartment complex depending on demand for Chonsei and supply of the SHIFT.