• Journal of the Korean Geographical Society
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• v.32 no.2
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• pp.245-263
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• 1997

Housing market is segmented through 1) housing supply classified by housing characteristics and 2) housing demand classified by different housing opportunity of household. Moreover, neighborhood plays a role in intensifying housing market segmentation as a factor affecting on decision making relevant to housing supply and demand. while segmented housing markets have different mechanism, existing studies on residential differentiation and housing market have overlooked the characteristic differences among housing submarkets as the studies presume metropolitan housing market to be a single housing market. while the concept of 'residential differentiation' pays much attention on spatial pattern after the ecological approach appeared, the concept of ‘housing submarkets' is explanatory of the process of urban space structure formation. Analysis on housing submarkets makes up for the weak points of the behavioral approach inquiring into socio-economic constraint and different housing opportunity of household.

• Journal of Korean Society for Geospatial Information Science
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• v.24 no.2
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• pp.63-70
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• 2016

A housing market in an urban area is not just a single market but a combination of regionally different submarkets. This study begins with a critical mind that previous researches did not consider the spatial autocorrelation of each area where the housings are located. The clustering analysis of housing submarket which considers spatial autocorrelation is performed as it follows. First, 4 housing market attribute variables are reducted to 1 variable by principle component analysis. Then, after calculating $Gi^*max$ by AMOEBA, 7 housing submarkets which have similar characteristics based on $Gi^*max$ are classified. The characteristics of each submarket are investigated, then political implication is deduced as the following. Different level of housing policy should be made to each cluster because each cluster has different level of spatial autocorrelation.

• Environmental and Resource Economics Review
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• v.18 no.2
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• pp.311-344
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• 2009

The hypothesis that the common market equilibria for housing attributes are attained within distinctive submarkets was tested. Markets for housing attributes with greater supply flexibility, i.e., structural variables, were found to be closer to their common equilibria than markets with less supply flexibility, i.e., neighborhood and distance variables. In addition, submarkets with greater mobility were found to achieve common market equilibria for more housing attributes with greater supply flexibility, but not for housing attributes with lower degree of supply flexibility. Results suggest supply flexibility and occupier mobility are both necessary conditions for achieving common market equilibria for housing attributes.

• Journal of KIBIM
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• v.10 no.3
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• pp.54-62
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• 2020

There is growing consensus among planners and policymakers that brownfield remediation has positive impacts on neighborhoods in terms of housing prices, public health, and environmental quality. However, there is a limited understanding of how brownfield redevelopments spatially affect neighborhood housing turnover and stability. This paper addresses the spatial impacts of brownfield redevelopments on neighboring housing turnover in Cuyahoga County, Ohio. This study examines housing turnover before and after the remediation of brownfield sites countywide and in housing submarkets stratified by household income. Based on housing sales data between 1996 and 2007, the extended Cox Hazard model with the difference-in-difference approach is employed to clarify the causal relationships between brownfield redevelopments and neighboring housing turnover. Additionally, along with the results of the previous study examining impacts of brownfield remediation on nearby housing prices, this paper estimates the change of neighborhood stability due to brownfield redevelopments based on both attributes of housing prices and turnovers.

• Journal of the Korean Geographical Society
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• v.45 no.2
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• pp.240-255
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• 2010

This empirical study researched the three major phenomena of differentiation of housing market under the large scale of new town construction in the metropolitan area, the spatial differentiation pattern of housing market due to the urban growth, and the relationship with the distribution of housing submarket and suburbanization. Yongin City, one of the most active growth cities among the metropolitan areas, is optimal place to investigate the spatial differentiation pattern of the housing submarket on the microscopic scale. Furthermore, Yongin City has not only the geographical benefit but also the strong influences from institutional, social, and environmental changes. This city is divided into four housing submarkets, where to Gangnam and Boondang, Gyeongbu and Youngdong expressway has significant effects. In addition, the housing tenure and size, household structure, educational background and income levels and so on also resulted in the differentiation of the housing submarket.

• Land and Housing Review
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• v.12 no.3
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• pp.11-26
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• 2021

With the increasing demand for office space, there have been questions on how office rent distribution produces a change in the urban spatial structure in Seoul. The purpose of this paper is to investigate a relative price gradient and to present a time-series model that can quantitatively explain the dynamic changes in the urban spatial structure. The analysis was dealt with office rent above 3,306 m² for the past 10 years from 1Q 2010 to 4Q 2019 within Seoul. A modified repeat sales model was employed. The main findings are briefly summarized as follows. First, according to the estimates of the office price gradient in the three major urban centers of Seoul, the CBD remained at a certain level with little change, while those in the GBD and the YBD continued to increase. This result reveals that the urban form of Seoul has shifted from monocentric to polycentric. This shows that the spatial distribution of companies has gradually accelerated decentralized concentration implying that the business networks have become significant. Second, contrary to small and medium-sized office buildings that have undertaken no change in the gradient, large office buildings have seen an increase in the gradient. The relative price gradients in small and medium-sized buildings were inversely proportional among the CBD, the GBD, and the YBD, implying their heterogeneous submarkets by office rent movements. Presumably, those differences in the submarkets were attributed to investment attraction, industrial competition, and the credit and preference of tenants. The findings are consistent with the hierarchical system identified in the Seoul 2030 Plan as well as the literature about Seoul's urban form. This research claims that the proposed method, based on the modified repeat sales model, is useful in understanding temporal dynamic changes. Moreover, the findings can provide implications for urban growth strategies under rapidly changing market conditions.