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2022 Vol.13, Issue 4

General Article

The impacts of public housing program on housing prices: The case of South Korea
Jinsoo Ko1
,
Chunil Kim2*
1Associate Professor, Department of Urban Planning and Real Estate, Kwangwoon University, 20, Gwangun-ro, Nowon-gu, Seoul, South Korea
2Assistant Professor, Division of Real Estate and Construction Engineering, Kangnam University, 40, Gangnam-ro, Giheung-gu, Yongin-si, Gyeonggi-do, South Korea
*Corresponding Author
30 December 2022. pp. 398-413
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Abstract

Policy interventions in the housing sector are mainly designed to stimulate the provision of affordable housing. Countries across the world, however, seem to grapple with harsh opposition to public housing developments, which local residents tend to blame for a decrease in property values and the deterioration of their neighborhoods. South Korea has continued to expand their stock of affordable housing, but aggressive opposition from surrounding residents is frequently observed. This study adds to the existing literature by conducting an impact analysis of the major public housing program in Korea using the DID (difference-in-differences) methodology. The statistical evaluation results of the selected public housing projects exhibit mixed outcomes, in terms of the impact of public housing projects on surrounding housing prices. The empirical results of this study suggest that the small-scale and scattered provision of public housing in gentrifying areas is the least likely to generate negative housing value impacts on nearby neighborhoods.

Keywords
housing policy
public housing
NIMBY
difference-in-differences
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Information
  • Publisher :Sustainable Building Research Center (ERC) Innovative Durable Building and Infrastructure Research Center
  • Publisher(Ko) :건설구조물 내구성혁신 연구센터
  • Journal Title :International Journal of Sustainable Building Technology and Urban Development
  • Volume : 13
  • No :4
  • Pages :398-413
  • Received Date : 2022-08-12
  • Accepted Date : 2022-11-17
  • DOI :https://doi.org/10.22712/susb.20220030
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