Micro-Analysis of Price Spillover Effect among Regional Housing Submarkets in Korea: Evidence from the Seoul Metropolitan Area

Kim, Leeyoung; wonseok, seo

doi:10.3390/land10080879

Cited by 10 publications

(6 citation statements)

References 40 publications

(50 reference statements)

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“…This phenomenon of spatial transmission of housing prices can be called the "spillover effect". This has been confirmed by studies not only in the U.K. [1] but in the U. S. [2], Korea [3], and many other countries as well. Many studies have shown that urban housing prices in China also have an noticeable spillover effect [4][5][6].…”

Section: Introductionsupporting

confidence: 62%

Spillover effect analysis of home-purchase limit policy on housing prices in large and medium-sized cities: Evidence from China

Guo

Niu

2023

PLoS ONE

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Home-purchase limit is a unique administrative housing policy of China and has non-negligible influences on the housing price. The objective of this study is to analyze the spillover effect of home-purchase limit policy on housing prices in 35 large and medium-sized cities. The panel data of these cities and the spatial Durbin model are employed in this study. The results indicate that the spillover effect of home-purchase limit policy is positive and significant in all of 35 cities. However, when we categorize these cities into high-risk, medium-risk, and low-risk based on housing price characteristics, the spillover effect of home-purchase limit policy is different. It is not significant in high-risk cities, is negatively significant in medium-risk cities, and is positively significant in low-risk cities. This paper suggests that local governments can pay more attention to the precise design and implementation of home-purchase limit policy, and maintain policy continuity to avoid further spillover fluctuations in housing prices.

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Section: Introductionsupporting

confidence: 62%

Spillover effect analysis of home-purchase limit policy on housing prices in large and medium-sized cities: Evidence from China

Guo

Niu

2023

PLoS ONE

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“…In 2021, over 400 000 people left Seoul: nearly 90% moved to Gyeonggi, and the remainder to Incheon. This trend has caused a spillover effect in housing costs: as more people are unable to afford the Seoul housing market, housing prices increase in the communities they move to, as do rental costs and rent deposit rates (the "jeonse" system) (Kim and Seo, 2021).…”

Section: Access To Jobs Is More Dependent On Cars Outside Seoulmentioning

confidence: 99%

Accessibility in the Seoul Metropolitan Area: Does Transport Serve All Equally?

2023

International Transport Forum Policy Papers

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“…Its development process has important research value. The Seoul Metropolitan Area is the second largest metropolitan area in the world [13].…”

Section: Relationship Between Urban Construction and Railmentioning

confidence: 99%

Structure Optimization and Governance of Multilevel Rail Transit Integration under the Background of a Metropolitan Area Based on the Industrial Internet of Things Security Data Fusion Method

Dai

Zhu

2022

Mobile Information Systems

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In recent years, the urban rail transit network architecture has gradually grown, the contradiction between rail transit passenger flow and transport load has been deepening, and its carrying capacity has also been tested. Passenger flow risk has become the most important source of risk in rail transit. The key to restricting rail transit service quality is how to effectively monitor and manage rail transit passenger flow and provide accurate and convenient early warning to staff. In order to effectively manage the complex passenger flow scene, the premise is to distinguish the real-time state of its moving target. The time series data feature extraction and LSTM data fusion were used to analyze the traffic data sequence in the multilevel rail transit network model. The multilevel rail transit integration of the Internet of things is modeled by the method of data fusion. It can be seen from the experimental data that in the data fusion mode, the network comprehensive evaluation prediction value fitting effect can quickly converge, and the error rate is less than 4%. By comparing the mean square error (MSE) and mean absolute error (MAE) data of the traditional method and the experimental method used in this paper through two different datasets, it was understood that the MAE under the data fusion method was reduced by 8 compared with the traditional method, and the MSE was decreased by 33, indicating that this method can bring better simulation effect to the model. The improvement of the synergistic and complementary functional network and the acceleration of the efficient and convenient flow of elements are the inevitable results of the integration of multilayer rail transit in the metropolitan area.

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Micro-Analysis of Price Spillover Effect among Regional Housing Submarkets in Korea: Evidence from the Seoul Metropolitan Area

Cited by 10 publications

References 40 publications

Spillover effect analysis of home-purchase limit policy on housing prices in large and medium-sized cities: Evidence from China

Spillover effect analysis of home-purchase limit policy on housing prices in large and medium-sized cities: Evidence from China

Accessibility in the Seoul Metropolitan Area: Does Transport Serve All Equally?

Structure Optimization and Governance of Multilevel Rail Transit Integration under the Background of a Metropolitan Area Based on the Industrial Internet of Things Security Data Fusion Method

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