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An Influence of Abandoned Homes on Housing Prices in the Neighborhood
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폐가의 주택가격에 대한 영향

논문 기본 정보

Type
Proceeding
Author
Hong, Sung Hyo (공주대학교) Im, Jun-hong (충남연구원)
Journal
The Korean Housing Association 한국주거학회 학술대회논문집 Proceeding of Spring Annual Conference of KHA, 2017
Published
2017.4
Pages
83 - 89 (7page)

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An Influence of Abandoned Homes on Housing Prices in the Neighborhood
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Abstract· Keywords

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This study empirically analyzes the influence of abandoned homes on housing prices in the neighborhood. Vacant homes, especially abandoned homes deteriorate amenities for living and decrease the price of housing units in the neighborhood because they harm the view and become the place of crime. However, since the decision to abandon homes is made theoretically when the value of a home is smaller than its maintenance costs, the housing price would affect the number of abandoned homes in the neighborhood. According to the empirical results of the study based on two-stage least square estimation in order to take into account the endogeneity, the average price of housing units in the neighborhood falls on average by 120 Korean Won when the ratio of abandoned homes to all housing units in the city, county or ward rises by its standard deviation (i.e., 0.64%).
Thus, because policy support to improve the ability to re-use the abandoned homes (e.g., re-building or conversion of usage) would increase the housing price and thus it contribute the public finance via property tax, it is required to obtain the feasibility of the policy through the analysis on benefits and budgets invested on the related policy.
#abandoned homes #housing price #hedonic model #폐가 #주택가격 #헤도닉

Contents

Abstract
I. 서론
II. 이론적 배경 및 분석모형
III. 자료 및 변수
IV. 실증분석 결과
V. 결론
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UCI(KEPA) : I410-ECN-0101-2017-595-002342768