정비사업에 의한 주택공급이 인근 아파트 가격에 미치는 영향

Abstract

Seoul City continues to promote urban development projects to respond to the increasing housing demand due to continued population growth and urbanization. Furthermore, it is establishing related support policies. This study analyzes the impact of housing supply through redevelopment projects, especially on apartment resale prices in the vicinity and provides insights for relevant policy development. Accordingly, the Heukseok 3 redevelopment area was selected as the target site, and apartment complexes within 500 m, 1 km, and 1.5 km of the target site were established as the treatment group, control group 1, and control group 2, respectively, with a total of 10,300 cases in 14 apartment complexes. The analysis used the difference-in-differences method and multilevel modeling. The results obtained at various stages of the project implementation indicated that the prices of the surrounding apartments decreased during the association establishment and completion approval stages, whereas price increases were observed during the project design and property management and disposal planning phases. Moreover, the extent of price increases and decreases varied with distance from the Heukseok 3 zone oriented to the policy. Through this study, we confirmed the impact of housing supply through redevelopment projects in neighboring areas. These findings can serve as valuable evidence for future housing policy development.