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Influence of educational and cultural facilities on apartment prices by size in Seoul: do residents’ preferred facilities influence the housing market?

Lookup NU author(s): Minki SungORCiD

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Abstract

This study uses spatial regression to assess the value of educational and cultural facilities as reflected in apartment prices in Seoul, at district and subdistrict levels. In the district-level analysis, regardless of the spatial unit and apartment size, private academies, museums, or art museums positively influence price, while historical sites and park areas negatively influence it. At the subdistrict level, effects differ by apartment size. The study finds that merely providing housing is insufficient for the success of housing policies. Instead, fulfilling residents’ needs and preferences regarding public facilities, especially according to their life stage and thereby contributing to housing policies, will help develop desirable living environments for all.

Publication metadata

Author(s): Sung Minki, Ki Junghoon

Publication type: Article

Publication status: Published

Journal: Housing Studies

Year: 2021

Volume: 38

Issue: 5

Pages: 814-840

Online publication date: 07/04/2021

Acceptance date: 15/03/2021

ISSN (print): 0267-3037

ISSN (electronic): 1466-1810

Publisher: Housing Studies

URL: https://doi.org/10.1080/02673037.2021.1908962

DOI: 10.1080/02673037.2021.1908962

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